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More →Gate Research: Federal Reserve raises interest rates by 25 basis points, crypto market enters a high-rate divergence phase
According to news from Bijie, a report recently released by Gate Research Institute states that in September 2026, the Federal Reserve raised interest rates by 25 basis points, the first increase in the policy rate in more than three years, but the crypto market did not experience significant selling. Over the following 7 days, it cumulatively rose 11.58% and 11.94%, while SOL rose even more, by 18.70%. The report's analysis suggests that a rate hike does not necessarily mean crypto assets will fall; what the market is really trading is the gap between policy and expectations. During the four rate hikes in 2023, market trends diverged afterward, while the deep correction in 2022 was caused by rapid rate hikes combined with an industry credit crisis. High interest rates increase the yield on dollar assets and the opportunity cost of holding crypto assets. BTC, with its higher liquidity and institutional participation, is relatively more defensive, while high-beta assets such as SOL have greater elasticity when the market recovers, but also face higher drawdown risk when liquidity tightens. Looking ahead, if inflation and employment gradually cool and rate hike expectations peak, the market may price in an improvement in liquidity in advance, with the effect gradually spreading from BTC to ETH and altcoins.
Bitcoin returns to $82,000, ETF data shows warning signs
Bitcoin price returns to $82,000, but ETF data shows warning signs. U.S. spot Bitcoin ETFs slightly returned to positive inflows on October 15, recording $5.1 million in net inflows, despite experiencing net outflows of $261.4 million and $65.4 million on October 14 and 12, respectively. Despite the rebound in inflows, institutional demand remains significantly lower than earlier this month. BlackRock's iShares Bitcoin Trust (IBIT) led inflows in the latest round, gaining $16.8 million, while Grayscale Bitcoin Trust (GBTC) recorded $7.6 million in outflows. Bitcoin has also shown signs of recovery over the past 24 hours, with the price rebounding to $82,087, up more than 1% from the previous day.
Off-exchange short sale volume for QQQ reported at 54.42%.
BiJie.com US stock data: QQQ's off-exchange short selling volume accounted for 54.42% of the total that day. Compared with the same-caliber snapshot 24 hours earlier, it fell by 16.9204 percentage points; compared with the same-caliber snapshot 7 days earlier, it fell by 13.7452 percentage points.
South Korea's largest crypto exchange Upbit has announced the suspension of deposit and withdrawal services with Bitmex.
According to news from Bijie, South Korea's largest cryptocurrency exchange Upbit has announced that, because Bitmex has terminated its integration with the VerifyVASP (VV) identity verification service, starting from October 16 it will stop supporting regular deposits and withdrawals of digital assets worth 1 million Korean won (about $750) or more with Bitmex. Withdrawals to Bitmex were already stopped on September 23, and large manual deposits from Bitmex will be stopped starting at 14:00 on December 18, after which related deposits must be requested to be returned. Deposits of digital assets below 1 million Korean won are not affected.
Bitcoin rebounds above $82,000 as Ethereum, SOL, and ZEC funds continue to see outflows
Bitcoin price rebounds above $82,000, while Ethereum, SOL, and ZEC funds continue to see outflows, according to Bijie data.
Hyperliquid on-chain perp trading volume surpasses 10 billion.
BiJie Network data: On-chain analyst Yu Jin reports that since the launch of loss-making mining on the 10th, within less than 6 days, the perp trading volume on the Hyperliquid chain has seen its top three traders all exceed $10 billion in volume. The first-place trader reached $11.6 billion in volume, lost $780,000, received 46 million paper, with a token acquisition cost of $0.017. The second-place trader had $10.3 billion in volume, lost $930,000, received 85 million paper, with a token acquisition cost of $0.011. The third-place trader had $10.1 billion in volume, lost $980,000, received 252 million paper, with a token acquisition cost of $0.0039.
Glassnode and Coinbase release a Bitcoin market report.
Crypto media data: Glassnode and Coinbase Institutional jointly released the Q4 2026 "Charting Crypto" report, stating that Bitcoin has moved from a bottoming phase into an initial recovery in Q3, with a generally positive view on Q4 as a whole, though caution is still warranted in the short term. The report shows that BTC's Net Unrealized Profit/Loss (NUPL) indicator has returned to the "optimism/anxiety" zone, while still remaining below the threshold of the "belief/denial" phase. The supply of BTC that has not moved for more than a year continues to increase, long-term holders have largely maintained their positions during the rebound, and the return of new participants has driven a recovery in recently active supply. The report also points out that as of the end of September, there is a dense cost-basis cluster above Bitcoin's price, including the resistance zone that previously capped September's rally, while multiple layers of support are distributed below.
Microsoft completes pre-training of a 2.8 trillion parameter model: stronger than the GPT-5.6 base, using only
According to CoinWorld news, Microsoft announced the completion of pretraining for its new-generation in-house model mai-base-2. The model has a total of 2.8 trillion parameters and adopts a MoE (mixture of experts) architecture, activating 80 billion parameters each time. From August to September this year, Microsoft used 16,000 NVIDIA GB200 GPUs, training for 38 days and processing approximately 50 trillion tokens. The new model introduces native visual pretraining for the first time, with visual data accounting for 18% of the training volume. Internal testing shows that mai-base-2 surpasses models such as deepseek-v4-pro-base, kimi k3, and qwen3.8 on multiple text prediction metrics. Microsoft stated that if it only wanted to train a model at the same level as deepseek-v4-pro-base, the required compute would be only 1/4 to 1/12. AI head Mustafa Suleyman said that the pretraining base of mai-base-2 is already stronger than the OpenAI model supporting GPT-5.6, while using only one quarter of the latter's training compute. The model is still in the post-training stage. Microsoft plans to use it in its own products and license the model weights to enterprise partners through Foundry.
$1.47 billion in BTC options expire today, with the max pain point at $83,000.
CoinWorld data: Approximately 18,000 BTC options expired today, with a notional value of $1.47 billion, a put/call ratio of 1, a max pain point of $83,000, and an expiry size accounting for about 4.5% of Bitcoin options open interest. Adam, a researcher at greeks.live, said that the current implied volatility is about 35%, the market's expectation for future price fluctuations is at an extremely low level, and options buyers remain relatively cautious.
S&P 500 ETF China: Secondary market price shows significant premium, investment risk warning issued.
News from Bijie: ChinaAMC S&P 500 ETF: Secondary market price significantly premium, investment risk warning. ChinaAMC S&P 500 ETF announced that the secondary market trading price of the fund is noticeably higher than the fund's reference net value per unit, showing a relatively large premium. On October 16, 2026, the fund's secondary market closing price was 2.022 yuan, while the fund's reference net value per unit at close was 1.8878 yuan. If the premium does not effectively decline by October 19, 2026, the fund has the right to apply for intraday temporary suspension of trading, extension of the suspension period, and consecutive suspension measures to warn of risks. The fund is operating normally, and there is no material information that should be disclosed but has not been disclosed. Investors are reminded to pay close attention to premium risk and invest prudently.