#SOL #Eth #BTC

### 🔥 Today's Key News Analysis

#### 1. Political and Regulatory Aspects: Major Positive Developments
This is the main driving force today, and market sentiment has been greatly boosted as a result.

* **Trump Sends Strong Signals of Support for Cryptocurrency**: Former U.S. President and current presidential candidate Donald Trump clearly stated in a public speech yesterday (October 4th):
* **"I will ensure that the future of cryptocurrency and Bitcoin is minted in the United States, not driven overseas."**
* He criticized the current government for attempting to suppress the cryptocurrency industry.
* **Market Interpretation**: This is interpreted by the market as an unprecedented positive signal. Trump's stance has attracted a large number of voters and supporters from the cryptocurrency sector, increasing expectations that future U.S. cryptocurrency regulatory policies may turn friendly. This is the **most direct catalyst for today's surge**.

* **Concerns about the "grayscale effect" alleviated, institutions continue to buy in**:
* Despite the continuous outflow of funds from Grayscale's GBTC in recent times, other spot Bitcoin ETFs (such as BlackRock's IBIT and Fidelity's FBTC) continue to show **net inflows**.
* This indicates that **the buying power of institutional funds is sufficient to offset the selling pressure from Grayscale**, providing strong confidence to the market.

#### 2. Macroeconomic Level: Expectations of Interest Rate Cuts Heat Up
* **Weak U.S. Employment Data**: The latest figures for initial jobless claims in the U.S. exceeded expectations, indicating that the job market is cooling.
* **Strengthened Expectations for Federal Reserve Rate Cuts**: Weak employment data has reinforced market expectations that the Federal Reserve may begin a rate-cutting cycle earlier. For non-interest-bearing assets such as Bitcoin, **a rate cut means lower capital costs and increased liquidity**, which is an important macro-positive.

#### 3. Industry and Technology Level: Actively Develop
* **Ethereum ETF Approval Expected Sooner**: The market begins to bet that the U.S. SEC may approve the spot Ethereum ETF this month (instead of at the end of the year). This has not only driven up ETH itself but also boosted the optimistic sentiment across the entire public chain sector and altcoins.
* **Strong Performance of Solana Ecosystem**: Although SOL itself is in a consolidation phase, the Meme coins within its ecosystem (such as BODEN and IWY) and DePIN projects are performing actively, attracting significant funds and attention, adding excitement to the market.