On October 27th, the BitVol (Bitcoin volatility) index launched by financial index company T3 Index and Bitcoin options trading platform LedgerX rose to 60.2, with a daily increase of 1.9%. Note: The BitVol index measures the 30-day expected implied volatility derived from tradable Bitcoin options prices. The actual price of the option is formed by the competition of many option traders. Therefore, implied volatility represents the market participants' views and expectations of the future market, and is regarded as the most accurate measure of the true volatility at that time.

Bitcoin's dominance in the cryptocurrency market has reached a multi-year high, accounting for 51.5% of the entire sector. <br>

Argentina presidential candidate Patricia Bullrich said she has reconciled with Bitcoin supporter Javier Milei, who will compete in next month's election, but she did not express direct support for the new liberal elite. Bullrich was cautious in her words on Wednesday. Previously, her pro-business alliance only received 24% support in the October 22nd election, ranking third and was eliminated. Milei won 30% of the vote, ranking second, second only to economic minister Sergio Tomás Massa's 37% vote. "We cannot remain neutral," Bullrich told reporters in Buenos Aires, "this country is in danger." Bullrich's support, as well as former president Mauricio Macri's support, makes Milei more competitive than Massa in the November 19th election.&nbsp;

Recent outstanding performance of Bitcoin is driven by institutional demand, as stated in a research report by JPMorgan on Wednesday. The report indicates that a large amount of Bitcoin has flowed into larger wallets, indicating demand from institutional investors.

2766 BTC ($96,205,508) was transferred from an unknown wallet to Coinbase.

On October 26th, Bloomberg ETF analyst James Seyffart stated on social media that cryptocurrency asset management company Bitwise has submitted a modified version of its spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC), "just a response to Bitwise's comments and concerns about the SEC," and if Bitwise's product is approved by the SEC, it will be traded under the ticker symbol BITB.

Mexican Senator Indira Kempis is pushing for Bitcoin to become a part of her political agenda, after introducing a bill last year to create a central bank digital currency. Initially, the bill did not mention Bitcoin or decentralized assets, but Kempis modified it to include the cryptocurrency. Despite facing backlash from the crypto community, Kempis remains optimistic and hopes to communicate to the Mexican public where legislators stand on the bill. While Mexico has a blossoming tech scene and a tech-savvy population, the bill still has a long way to go before it becomes law.

The BTC dominance rate, which measures Bitcoin's market value relative to the entire digital asset market, has soared to 54.4%, the highest level since April 2021. A ratio of over 50% means that Bitcoin's market value exceeds the sum of all other cryptocurrencies. The index has fluctuated between 39% and 49% over the past two years until it broke through this range in mid-June. This breakthrough coincided with the news that BlackRock had applied for a spot BTC ETF in the US, causing the Bitcoin price to rise above $30,000. Market data shows that BTC prices have risen 32% in the past month.

The recent surge in Bitcoin's price has resulted in the liquidation of $230 million worth of bearish futures contracts, while the open interest in BTC futures has increased from $13.1 billion to $14 billion. The increase in futures open interest suggests that demand for new leveraged positions outpaced forced closures, indicating a "gamma squeeze" caused by arbitrage desks being forced to hedge short positions. There are several theories circulating on social media, including Changpeng Zhao using BNB as collateral for margin on Venus Protocol to shore up the price of BNB token, but these speculations cannot be confirmed. Despite ongoing speculation regarding the approval of a spot Bitcoin ETF, there is enough evidence to support a healthy influx of funds, justifying a rally beyond the $35,000 mark.

Bitcoin's price has reached $34,795, with a 25% increase in just one week. This has resulted in 82% of all Bitcoin wallet addresses being "In the Money", according to data from IntoTheBlock. The majority of Bitcoin holders are long-term holders, with only 11% being classified as "Investors" or "Whales". Despite the high percentage of holders in a profitable position, there is still a possibility of them selling their holdings to secure gains or protect against losses. However, trend signals suggest that the bullish momentum for Bitcoin may continue, with an increase in "In the Money" holders, buy orders on exchanges, and derivatives.