On October 30th, the cryptos market sentiment was optimistic, with Bitcoin briefly rising above $73,000, approaching an all-time high. As of the time of writing,$Bitcoin (BTC.CC)$ down 0.54% to $72,237.46, with an increase of nearly 2% in the past 24 hours; $Ethereum (ETH.CC)$ up 1.08% to $2,665.11.

Hong Kong stocks cryptos spot, futures, and ETFs continue to rise. $CSOP Ether Futures ETF (03068.HK)$N/A.$Harvest Ether Spot ETF (03179.HK)$up more than 2%,$Bosera HashKey Ether ETF (03009.HK)$and$Bosera HashKey Bitcoin ETF (03008.HK)$N/A.$Samsung Bitcoin Futures Active ETF (03135.HK)$and$CSOP Ether Futures ETF (03068.HK)$Please use your Futubull account to access the feature.$Harvest Bitcoin Spot ETF (03439.HK)$Stocks rose nearly 2% on average.

Key Focus

• The US Department of the Treasury released a financial inclusion strategy, mentioning cryptocurrencies only once, causing a contrast with the Vice President's stance on the election.

According to CoinDesk, the US Department of the Treasury has developed a new financial inclusion strategy to help people enter the financial system. However, in the 35-page report, cryptocurrencies are only mentioned once to highlight the Treasury's efforts to mark the industry's hazards. Despite Vice President Kamala Harris indicating during the campaign that she would encourage cryptocurrencies as part of her economic agenda, the current administration maintains a distance from digital assets, making this likely the Treasury Department's final mention of cryptocurrencies before the upcoming election next week.

In its report on Tuesday, the Biden administration's Treasury Department pointed out that it is 'fostering financial inclusion by developing and promoting research,' for which it released a report on 'risks related to digital assets' in 2022. It is currently unclear whether the Vice President's office will have any say on the latest strategy of the Treasury Department, but this seems to sharply contrast with her consistently open attitude towards cryptocurrencies displayed during the campaign.

• The Chief Financial Officer of Florida in the USA proposed using bitcoin to diversify the state's retirement fund.

According to CryptoBriefing, Jimmy Patronis, the Chief Financial Officer of Florida in the USA, wrote to Chris Spencer, the Executive Director of the Florida Government Management Committee, requesting the committee to submit a report exploring the possibility of investing bitcoin and other digital assets as feasible investments for the state's retirement fund. Patronis cited Florida's strong economic performance and innovative history as reasons to explore the potential of crypto investments. He argued that bitcoin, often referred to as the 'digital gold', could diversify the state's investment portfolio and provide a hedge against volatility in other asset classes.

He suggested that the 'Digital Currency Investment Pilot Program' is ideal for Florida's Growth Fund, which allows for more investments in innovative and emerging fields. Patronis' letter highlighted the latest developments in the crypto field, including President Trump's proposed national crypto reserves plan, and Governor DeSantis' efforts to protect Florida residents from the impact of central bank digital currencies (CBDC).

The letter also pointed out other states that have already taken action to invest in crypto. Wisconsin and Michigan have allocated a small portion of their retirement funds to crypto, while the Arizona Senate has been working on incorporating crypto into the state's pension fund. Additionally, Wyoming and Nebraska have enacted laws to attract the crypto mining industry, including establishing a framework for chartered crypto banks.

• QCP Capital: Bitcoin breaks $0.07 million for the first time in over 7 months due to various factors.

QCP Capital noted that Bitcoin surpassed the $0.07 million mark for the first time in over seven months. This was due to various factors, including strong inflows from spot ETFs last week, approaching nearly $1 billion. This excitement has extended to cryptocurrency-related stocks. Companies like IREN, Hut8, Bitdeer, and TeraWulf have benefited from increased demand in artificial intelligence and Bitcoin's recent rebound. The Trump administration may adopt expansionary fiscal policies, which could push up deficits and inflation, benefiting BTC particularly in the medium term.

• Matrixport: Spot ETF demand may drive year-end bitcoin rebound with the US presidential election.

Matrixport released a latest report stating, "Bitcoin has surpassed the $70,000 mark, reaching our year-end target set for early 2024. According to the latest 'Matrix on Target' report, we expect the Bitcoin price to possibly further rise before the end of the year. The U.S. presidential election may serve as a positive market catalyst, coupled with strong demand from investors for Bitcoin spot ETFs, which will further boost Bitcoin prices. With more bullish investors disclosing their Bitcoin spot ETF holdings in the upcoming 13F filings, this may inject more momentum into Bitcoin's year-end rebound."

• View: The unlocking amount of TIA is several times the average daily trading volume, which may lead to increased volatility.

Approximately 0.175 billion Celestia (TIA) tokens were unlocked on October 30, including distribution to early investors, which will increase the token's supply by 80%, marking the largest single unlocking event since the token was launched last October. These tokens are currently valued at 0.92 billion dollars, with exchange prices slightly above $5 per token.

Anagram partner David Shuttleworth stated: "Some noticeable impacts may occur," which could lead to increased volatility. He pointed out that the number of unlocked tokens is several times the average daily trading volume of TIA, ranging from 50 million to 0.2 billion dollars in the past month. Cryptocurrency analyst Will Clemente suggests that the possibility of a rebound in TIA after unlocking has increased, stating: "The price of Bitcoin further reduced the likelihood of a bearish impact on the market from Thursday's TIA unlocking."

• Blackrock's spot bitcoin ETF traded volume was $3.3 billion yesterday, reaching the highest level in six months.

According to data released by Bloomberg ETF analyst Eric Balchunas on X platform, Blackrock's spot Bitcoin ETF IBIT traded at $3.3 billion USD yesterday (October 29), reaching the highest level in 6 months. The analyst said: "This is a bit strange because Bitcoin rose by 4% (usually ETF trading volume surges during economic downturns/crises). Occasionally, if there is FOMO frenzy (like in 2020 with ARKK), trading volumes may surge. Given the recent price surge over the past few days, I suspect this is the latter, meaning there will be (more) significant inflows of funds this week."

• View: This week's U.S. unemployment rate data may push Bitcoin to new highs.

MN Trading founder Michaël van de Poppe stated that this week's U.S. unemployment rate data may drive Bitcoin to new highs. The market is already prepared for data that could potentially influence the market.

Editor/rice