4E: Institutions Continue to Accumulate, Bitcoin Market May Enter a New Cycle

October 13 news, according to 4E observation, MARA Holdings bought another 400 BTC through FalconX two hours ago, with a transaction amount of approximately $46.31 million. The current cumulative holdings have reached 52,850 BTC, with a total value of about $6.12 billion at current prices. Meanwhile, Strategy founder Michael Saylor once again released Bitcoin Tracker information, and the market expects that his company may disclose a new round of increased holdings this week. On the macro level, the risk of a U.S. government shutdown remains as high as 96%, but the market generally expects the Federal Reserve to cut interest rates by 25 basis points in October (probability 98.3%). Federal Reserve Chairman Powell and several governors will deliver intensive speeches this week, while the delayed release of economic data is intensifying market expectations for policy easing. In terms of precious metals, the spot gold price once rose to $4,060 per ounce, hitting a new all-time high. At the same time, Glassnode data shows that the crypto market funding rate has dropped to the lowest level since the 2022 bear market, indicating that leverage has been systematically cleared and market volatility has significantly decreased. Market opinions are diverging: trader Alex Becker pointed out that this plunge may mark the early stage of a bull market; Jan3 founder Samson Mow also believes that Bitcoin is about to start a new upward cycle. In addition, Forbes reported that U.S. President Trump may be one of the largest individual Bitcoin investors in the United States, indirectly holding about $870 million in BTC through his holding company TMTG. 4E reminds investors: signals of deleveraging and institutional accumulation are strengthening, and Bitcoin may be at the starting point of a new cycle after a mid-term adjustment. Macro and political events may become key catalysts for the market going forward.