Odaily News: Bitcoin fell to $80,350 on Thursday before rebounding, climbing back above $83,000 at the Friday U.S. stock market open and subsequently fluctuating around $82,500. The rolling 24-hour cryptocurrency liquidation amount had previously exceeded $1 billion. Despite news circulating that Ledger hardware wallet users' funds were stolen, the crypto market has not yet shown significant selling pressure.

Analysts suggest that before the U.S. CPI data is released on October 14, Bitcoin may remain range-bound, with the main trading range between $81,300 and $86,500, and could repeatedly test $84,000. The market is also watching whether Bitcoin can hold the key level of $82,500 before the weekly close. (Cointelegraph)

Odaily News: According to a notice published on the White House website on Friday, U.S. President Trump announced the establishment of a dedicated committee to investigate allegations against Federal Reserve Governor Lisa Cook. According to the notice dated October 7, Trump stated: "To assist me in fulfilling this responsibility, the committee will investigate the allegations against Governor Cook and report to me whether there exists 'good cause' to remove Governor Cook." This investigation will focus on assessing whether Cook meets the conditions for removal under the law, and does not currently mean that she has been removed.

Odaily News: Dragonfly Managing Partner Haseeb Qureshi stated that the "bunker mode" proposed by Ethereum researcher Justin Drake to address the risk of AI cracking cryptographic signatures amounts to "cryptographic doomerism," and argued that migrating tokens to new addresses is not a real solution.

Qureshi said that "bunker mode" can only protect assets that users have not yet transferred out of new addresses. If tokens in other addresses are attacked and heavily sold off, those assets could still lose value. He suggested that blockchain networks adopt a "Cryptographic Recovery Mode," using hash-based backup signature schemes that allow users to bind recovery mechanisms in advance, so that validators can assist in recovering assets after cryptographic signatures are cracked.

Previously, Ethereum researcher Justin Drake warned that with the rapid improvement of AI mathematical capabilities, the ECDSA signature algorithm protecting crypto wallets could face the risk of being cracked within "months rather than years," and advised users to gradually migrate funds to new wallets that have not exposed public keys. Glassnode data shows that approximately 6.26 million BTC are currently held in addresses with potential risk. (Cointelegraph)

Odaily reports that Bank of America strategist Michael Hartnett said money market funds attracted $166.4 billion in inflows in the week ending October 7, the largest weekly scale since April 2020. He believes that as long as the Federal Reserve does not initiate sustained and significant monetary easing, this batch of funds will find it difficult to leave cash-like assets on a large scale in the short term. Hartnett summed up the current logic of capital flows in one sentence: "No rate cut, no reduction in cash."

Unlike the common previous judgment that "too much cash will eventually flow into the stock market," he believes that the current elevated level of cash does not necessarily mean there will be massive potential buying power for stocks in the future, because cash itself can already provide relatively attractive yields. The market now expects that the Fed's next rate hike is more likely to occur in December rather than at the late-October meeting. The rates market is also pricing in the possibility of continued tightening in the coming months. In this environment, cash is no longer a "waiting asset" with almost no yield.

Money market funds and short-term bonds can provide relatively high interest while price volatility is significantly lower than that of stocks and long-term bonds, so investors have no obvious incentive to rush into taking on more risk.