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ETH-based tokens account for $3.79 billion: The Binance hack is not the end, but the starting point for "custodial trust" repricing
In this record-breaking Binance hacker theft, Ethereum mainnet and EVM ecosystem tokens, as well as ETH itself, constitute a large portion of the stolen assets. The total scale of ETH-related assets is about $3.79 billion, making up a significant share of all stolen assets and becoming the most closely watched component of this heist. Many only see the stolen amount but overlook a deeper issue: even the largest centralized exchange in the industry can have its custodial security defenses breached. This attack was not a traditional private key leak but started with phishing during early job recruitment, malicious development tools in the supply chain, lateral infiltration of the internal network, and then leveraging the EIP-7702 delegation authorization mechanism to gain hot wallet execution permissions. It is a complex multi-layered supply chain plus social engineering attack, exceeding the expected boundaries of conventional security defenses. ✅ Core changes in custodial trust repricing brought by the incident: 1. The perception that "top exchanges = absolute security" is broken. The market previously assumed that custody by large exchanges was a safe choice, but this incident proves that internal personnel, development tool supply chains, and new contract mechanisms can all be entry points; even with MPC multi-party computation wallet architecture, there remain risks of vulnerabilities at the permission delegation level. 2. Insights from asset structure: High proportion of stolen ETH ecosystem assets. There are many types of tokens on the ETH chain and complex authorization interaction scenarios. After hackers gain permissions, they can transfer out large amounts of different contract assets, exposing the complexity of EVM ecosystem asset custody: each type of contract authorization#Circle财报在即，稳定币增长能否兑现收益？ Don't think so A large amount of funds flowed out of Binance due to a theft incident. OKX could have attracted a lot of capital inflow, but instead launched a holding-to-earn campaign, holding USDT and USDC to earn 400,000 USDT. However, very few people participated. If the campaign had been for OKB, it would have been much better than now. They miscalculated, unfortunately, and people didn’t buy into it. The opportunity was missed. Now the funds that flowed out of Binance are starting to flow back. Everyone, take a look at the number of participants 😄On the surface, altcoins seem to be recovering, but underneath, it's still BTC and ETH holding the ground, with SOL stuck awkwardly in the middle. Would you dare to take the position at SOL's current spot? When reviewing charts these past couple of days, I had a subtle feeling: the overall market sentiment isn't bad, BTC and ETH rhythms remain steady, but when it comes to SOL, the scene suddenly quiets down. Current price is 93.30, almost unchanged in 24 hours, with a 7-day range from 90.86 to 103.65. Since sliding down from above 103, it has been grinding just above support. This kind of "surface calm" is actually more worth watching than a big drop because it indicates neither buyers nor sellers want to make the first move.
Let's talk structure first. The key defense line for this wave is between 90.00 and 91.50; the 7-day low of 90.86 sits right within this band, meaning the price is now standing on the last stone at the edge of a cliff. Above, 96 to 100 is a dense resistance zone, where the trapped positions left from the previous drop from 103 will likely try to sell tentatively. So the short-term rhythm is clear: hold 91, there's a chance to test 96 and then 100; if 90.86 breaks, 85 is the next psychological barrier.
But what I want to discuss more is the sector strength and weakness. BTC is stable, indicating big money hasn't retreated; ETH is keeping up, showing risk appetite is still in the mid-range; but SOL, a high-beta altcoin, hasn't followed suit—instead, it has slid from a high level and is hovering on support. This is a typical case of "surface activity with inconsistent underlying structure." The market hasn't fully shifted to offense but is selectively buying. Even within altcoins, there's stratification, with funds preferring to stay in higher-certainty assets.Crypto’s latest rebound has the look of a relief rally, not a regime change. $BTC is back at $77,622, up 0.87%, with $ETH at $2,291, up 1.79%. The gains are real, but the confirmation is missing. Spot Bitcoin ETFs saw clear outflows earlier, and institutional investors have not yet signaled a return. That gap between price and participation is the most telling signal in the market right now. The calendar adds pressure. The US midterm elections are shaping risk appetite, and November 6 brings impThe most surreal thing is that these three statements can all be true at the same time: the negotiations have made no new progress, both sides are still willing to continue talks, and the use of military means is not ruled out.
Iran demands the US respond to 7 conditions, Qatar is mediating in the middle, and Trump added that anything could happen after the midterm elections. It sounds like three different camps' messages, but actually, it's three facets of one message: no one wants to be the first to give in, and no one really wants to break the table.
So now the trend of $BTC largely depends on who speaks first and what statement is released first. While you focus on the K-line looking for support, others are watching the schedule to set the timing. #Circle财报在即，稳定币增长能否兑现收益？ CRCL (Circle) 2026 Q3 earnings report was released today, with the market consensus expecting revenue of about $789 million and net profit of $99.11 million, a significant decline compared to the same period last year. The core pressure comes from the Federal Reserve's interest rate cuts and the decline in reserve asset yields, directly squeezing USDC reserve interest income (the company's main profit source).
On the business side, USDC circulation remains high, with enterprise payments, SAP, and other institutional collaborations implemented, continuous investment in the Arc public chain, and increased R&D expenses. Highlights include institutional tokenized assets and cross-border settlement demand; risks are concentrated in U.S. stablecoin regulation and continued downward pressure on interest rates suppressing profit elasticity, with intensified competition for USDC market share. Performance is highly sensitive to interest rates, causing large profit fluctuations.
Disclaimer: This is only a summary of market expectations and does not constitute investment advice. $BTC has climbed back near 78,000, but don't rush to celebrate; the weekly chart might be showing the fifth consecutive bearish candle. Once the midterm elections are over, volatility will come. Binance has again reported unauthorized transfers of tens of billions of dollars in assets, and ETF funds are also withdrawing, so the rebound lacks strong support.
The A-share market is even more surreal. The main index is falling without resistance, while funds are rushing to speculate on "yang"-sounding pun stocks, with 11 stocks whose names include the sound "yang" hitting the daily limit up. On the other hand, CPO tech stocks are being bloodied, broad-based ETFs dumped nearly 80 billion yuan in a single day to prop up the market, forcibly turning the SSE 50 red, but the STAR 50 still couldn't hold.
$ETH is barely holding at 2280, while $NEAR has dropped over 6% and is still being cut down by leveraged funds. The Nasdaq rebounded 0.83%, AI giants collectively recovered, but Goldman Sachs poured cold water, saying 60% of the S&P 500 components have already fallen into a "hidden bear market." The excitement is localized; losses are widespread.$BTC breaks below 77,000 again, don’t just focus on the round number levels
Today BTC once again fell below $77,000. The US midterm election results remain uncertain, and weak tech stocks continue to suppress risk appetite.
But what’s more worth analyzing is the structure of the decline.
Glassnode’s report shows that the last round of pullback was mainly driven by active selling in perpetual contracts, while spot buying did not collapse in sync; instead, it retained some support.
The subtlety lies in this: the price has fallen, but leverage has not noticeably cooled down. Futures open interest remains at a relatively high level, longs continue to bear high funding rates, and demand for downside protection in the options market is also rising.
What does this indicate?
The price is falling, but the leverage risk has not been fully released.
So what we should be more cautious about now is not which round number $BTC has lost again, but that in a highly leveraged market, external shocks can amplify volatility once more.
Of course, spot buying still shows resilience, which also means the market has not completely lost support.
Going forward, the focus is on two points: whether contract positions can decline in an orderly manner, and whether spot demand can continue.
For $BTC to truly stabilize, it won’t rely on a sudden sharp rebound, but on risk gradually clearing out and buying returning steadily. #美国10月非农前瞻：就业增长或牵动12月加息预期 BTC futures open interest surged 12.1%, while spot is quietly bleeding — Is this 78,000 wave really backed by real money leveraged buying?
$BTC: Price dropped 5.3%, but futures open interest surged to 694,000 BTC, funding rate annualized at 17%, leveraged longs are holding strong. But Bitfinex bluntly says buy orders in the 77,000-80,000 range are "passive," placing orders to catch the knife, not actively sweeping. Without spot ETF inflows, a rebound to 81,300 will face resistance.
$ETH: BitMine, the world's largest ETH enterprise holder, is underwater by over $4 billion, with stock price only 0.88 times net asset value; buybacks of their own stock are more cost-effective than buying coins — the largest spot buyer is stepping back. But 1.37 million ETH are queued for staking on-chain, with a 24-day wait and an in/out ratio of 137:1.3. The network is locking tokens, ETH/BTC fell to 0.029 approaching a three-month low.
$XRP: Today at UTC 14:46, XRPL activated the fixCleanup3_4_0 amendment, fixing the PaymentBurn token minting vulnerability, with 33 of 35 validators supporting; XRP native supply remains unaffected. Event-driven, short-term funds are playing before the boot drops.
Summary: BTC is propped up by leverage, ETH whales are "defecting," XRP is waiting for the security patch to land. Are you holding futures longs or spot chips? Show in the comments, let's see who's swimming naked👇
#BTC现货ETF连续流出 Lively positions, cold structure: What exactly is the $14 million ZEC bet on? If the upgrade was already announced, why did the price slowly slide from 1400 to 1243? - On the 2nd of the month, an address t1JJnA spent $3.8 million spot to buy 3,052 ZEC at an average price of 1250, while simultaneously opening a long contract position twice the size of the spot, 8,000 contracts, with a nominal value of $10.16 million, totaling nearly $14 million. On the surface, this looks like a strong early stake, but what really made me pause is the rhythm: The NU7 mainnet upgrade lands on November 5, reducing block time from 75 seconds to 25 seconds. This information has long been public, yet the price did not move up in advance; instead, it steadily declined. This indicates the market has not priced the upgrade as a new positive but is more waiting for a realization window. My own feeling is that the most dangerous aspect of this position is not the direction but the structure. The 3,052 spot coins are solid, but the 8,000 long contracts amplify volatility. If the old script of "sell immediately when the event lands" plays out around November 5, the leveraged side will face pressure before the spot side. ZEC has indeed had this habit over the past two years: buying on news, selling on event release. Some analysts even warn of a 50% to 70% pullback after the upgrade. This is not bearish talk but a reminder—when someone uses contracts nearly three times the spot size to express a view, what they are actually betting on is notInterest rates are still pushing higher; Bitcoin is just catching its breath inside the box.
Overnight, US job openings and factory orders were stronger than expected, the 10-year US Treasury yield hit 4.966%, and the US dollar index stopped falling, closing at 101.86. Gold closed at 3930, briefly dipping below 3900 during the session. The probability of a Fed rate hike in December is about 75%. The Reserve Bank of Australia raised rates by another 25 basis points to 4.85%, an 18-year high. Tonight, US ADP and ISM services data are due.
BTC is around 77800, up just over 1% in 24 hours. Funding rate is +0.01% per 8 hours, longs are paying but not extremely. About 70% of accounts are long. The total market liquidation in 24 hours is 175 million USD, with longs slightly more; in the past 12 hours, shorts have been squeezed. The liquidation zones are clear: above, first watch 78000, then 80000–82000; below is 76200.
$BTC $ETH
#美国中期选举在即，哪些结果值得关注？ Bitcoin's "Darkest Hour"? Continuous Decline: Is It the Darkness Before Dawn or the Beginning of the Abyss?
As of November 4, 2026, Bitcoin is priced at approximately $77,700, down about 4.7% over the past 7 days, with the Fear and Greed Index remaining deep in the panic zone at 26. But more thought-provoking than the short-term decline is that the digital gold narrative is undergoing a real stress test. First: The failure of its safe-haven function. Since 2026 began, gold has risen about 32% for the year, while Bitcoin has retraced over 40% from its $126,000 peak. During geopolitical conflicts, gold rises while Bitcoin falls; this divergence has repeatedly occurred. Second: The inflation-hedge logic has been disproven. The US PCE inflation has risen to 3.8%, but Bitcoin holders’ real purchasing power has actually shrunk by about 39%. In true inflation-hedging scenarios, Bitcoin has not delivered on its promise. Third: ETFs have changed its nature. When Bitcoin enters Wall Street trading desks through ETFs, it becomes part of the same risk budget system—when tech stocks fall, Bitcoin falls with them, and often more sharply. But the story is not over yet. Michael Saylor divides Bitcoin’s value narrative into four camps: monetary, capital, technical, and libertarian. Currently, pricing power is held by the capital camp—they treat Bitcoin as an interest rate-sensitive financial asset, and the ETF redemption wave is clear proof. However, another underlying trend is happening simultaneously: long-term holders are absorbing chips sold by retail investors, with about 75% of circulating supply now controlled by LTH. $BTC is stuck at $76,868, unable to reach $78,000 above or break $76,000 below — this is not calm, but rather neither side has triggered. In the past hour, BTC dropped 2.93%, $ETH fell 1.22%, $SOL declined 0.80%, while only $ZEC rose 0.68% against the trend, yet it still fell 9.72% over 24 hours, making it the worst performer overall. Short-term all are down, long-term diverging; this structure often means the market is waiting for a direction, not that a direction has been chosen yet. What’s truly worth watching is the chip distribution. There is a thick wall from $78,500 to $79,500 above, with the lower edge about $500 higher than $78,000; below, $76,000 to $76,800 is also substantial, with the upper edge raised to $76,800. $BTC is exactly stuck just outside the lower edge, with neither side activated. My judgment is simple: only acknowledge strength if it stands above $78,000, only acknowledge a breakdown if it falls below $76,000, everything in between is noise. This is not a prediction, it’s discipline. Leverage is quietly cooling down. Total network open interest is $134.154 billion, shrinking 2.17%, but funding costs are not cheap at all — $BTC rate is 0.0106%, the highest in the market, $ZEC the lowest at 0.0066%. $ETH is at 2256, $SOL near 92.27, $ZEC dropped to 1140, all three negative, with $ZEC funding rate at -10.07% the deepest. Positions are decreasing while rates remain high, indicating longs are paying to hold positions, not shorts panicking. Under this combination, an upward breakout requires#The Circle financial report is coming up, can the growth of stablecoins translate into profits? I believe Circle (CRCL) faces a major challenge: growing USDC adoption does not guarantee higher profitability. High distribution costs, agreements with Coinbase, and the possible drop in interest rates could pressure its margins. For me, the real test will be to prove that growth comes from real and sustainable transactions, not just accounting figures. #美国中期选举在即，哪些结果值得关注？ $BTC $ETH $XAU The US midterm elections essentially represent a vote on US fiscal and regulatory policies. Control of both chambers will directly change the short-term pricing logic of US debt, the dollar, gold, and BTC.
The market's current baseline expectation is a divided Congress, meaning each party takes one chamber. Under this scenario, large-scale tax cuts, new fiscal stimulus, and aggressive regulatory bills are unlikely to pass.
Two other scenarios are unexpected and would cause greater volatility:
✅ Republicans take both the House and Senate
Expectations for tax cuts and deregulation of industries heat up, concerns about deficit expansion resurface, and interest rate hike expectations will be repriced. US Treasury yields and the dollar strengthen, gold comes under pressure; US tech stocks and AI preferences rise, BTC follows risk assets with a slightly stronger oscillation.
✅ Democrats sweep both chambers
Tend to constrain fiscal spending, promote tax increases and strong regulation, leading to deficit expectations narrowing. US Treasury yields tend to fall, benefiting gold; expectations for strong regulation in tech and crypto sectors rise, bearish for BTC.
📌 Reference price levels
Gold: support at 3900, resistance at 4020
BTC: support at 76000, resistance at 81000
👉 Trading approach
Elections are a typical event with expectation gaps; do not heavily bet on the outcome in advance. Focus on comparing actual outcomes with prior market expectations, prioritize observing US debt and dollar correlations for validation, and consider light trial positions only after market signals stabilize, with strict stop-losses. Macro event-driven markets have far more uncertainty than certainty.
Brothers, what are your thoughts US Stocks: Since 1950, in 19 midterm elections, the S&P 500 has risen in the 12 months following every election, with an average increase of 15.1% and a median of 14.5%. But this year is different—the maximum pre-election drawdown was only 9% (historical median is 16%), and the distance from the historical high is just 3%, so the space for recovery is limited; historical gains cannot be simply applied.
BTC: Having gone through 3 full cycles (2014/2018/2022), it rose one year later on average by about 54%. But the key point is—the median dropped 31% in the first three months after the election, meaning the direction was right but the process was extremely painful. Also, these 3 times coincided with two and a half years after halving, where bull-bear cycles and election cycles overlap, so it cannot be proven as an "election effect."
Policy: The CLARITY Act missed passing the Senate by one vote in September and is now stalled; the new Congress will decide the legislative direction. A divided Congress is positive for the stock market (restraining fiscal spending) but negative for crypto (legislative deadlock prolongs uncertainty).
Core conclusion: Being optimistic about one year later ≠ no short-term decline. The real determinants of direction are the Federal Reserve's December meeting, corporate earnings, and BTC ETF fund flows; the election is merely an emotional catalyst.
#美国中期选举在即，哪些结果值得关注？ $BTC $ETH $ZEC Bitcoin did not plunge further over the weekend, and the Binance turmoil has basically eased. The price is now back around $76,000–$78,000, recently dropping below $77,000 again, hovering near the 100-day moving average in the short term.
The 100-day and 200-day moving averages can be used as short-term references:
- In a bear market, rebounds near these two lines often face resistance;
- In a bull market, pullbacks near these two lines often find support.
But don't apply this mechanically; the key is whether there is volume to break above or below these lines.
Three short-term scenarios:
1. US-Iran easing → risk sentiment recovers, $BTC has a chance to stabilize near the 100-day moving average;
2. Fighting while negotiating → continued volatility with repeated shakeouts;
3. Conflict escalation → possibly another drop, but near the 200-day moving average, around $73,000, will be a more worthwhile bottom-fishing zone.
I am more optimistic in the medium term. Historical data shows that in the six months after the US midterm elections, the S&P 500 mostly rises, with an average gain of about 16.6%. This doesn't mean that if the US stock market rises, Bitcoin will definitely rise, but at least it indicates a reduced risk of a major US stock market crash, which is a positive factor for BTC's subsequent recovery.
In terms of trading, watch the 100-day moving average resistance and 200-day moving average support in the short term; for the medium to long term, still consider buying in batches, avoid chasing highs, and don't panic sell.Major macro event incoming! The midterm election boot has not yet dropped, and BTC stands at a crossroads of directional choice.
The U.S. midterm election voting has begun, and Bitcoin has retreated to around $76,500. The sentiment of tech stock adjustments continues to transmit to the crypto market. On the capital side, an extreme reversal drama is playing out: from October 26–29, the U.S. spot BTC ETF saw a cumulative net inflow of about $441 million, but on October 30 alone, there was a large net outflow of $643 million, clearly showing huge institutional long-short divergence and unstable buying pressure.
📊 Reviewing history, after the previous three midterm elections, BTC followed a highly similar trajectory: first a pullback to digest risk, then a rebound lasting about a year. The sample average maximum drawdown was about 38%, and the average increase one year after the election was 54%. If only doing scenario simulation, the corresponding phase low is about $47,400, and the estimated position one year later is $117,700; ⚠️ history will not simply repeat, this is for reference only and not a market prediction.
💡 What truly determines BTC’s subsequent trend is not the election result itself! The core points to watch are: changes in regulatory policy expectations, whether ETF funds can return to net inflows, and the strength of buying support at the pullback level.
Once negative news lands combined with capital inflow, the market may see a rebound; if policy concerns persist and ETF outflows continue, downward pressure remains.
Short-term advice is to patiently wait for signs of market stabilization, plan funds carefully, and always pay attention to trading risks #美国10月非农前瞻：就业增长或牵动12月加息预期 "Is the benefit of asset recovery turning into a death sentence? CORE's trust fracture is hard to mend, yet AI optical communication remains fervent"
On one side, AI technology is blazing like a fire fueled by oil; on the other, trust in public chain governance is collapsing. The market's joys and sorrows do not align.
🔥 The AI sector continues to surge: Marvell plans a stock swap acquisition of Lumentum, heavily investing in AI optical communication infrastructure. This indicates that external capital's enthusiasm for AI foundational computing power infrastructure remains undiminished, with giants accelerating their territorial expansion.
⚠️ CORE's "positive" turns "negative":
The hard fork recovered 68.15 million CORE tokens, which sounds like great news? But the market responded with a harsh slap via a drop of over 6%. Why? Because although transactions were not rolled back, the attack records remain permanently on the chain. The technology was fixed, but trust was broken. More importantly, these 68.15 million tokens have only been transferred to a recovery address and have not been distributed to the affected users—this huge invisible landmine could explode into massive selling pressure at any time.
Operational advice:
Amid the macro storm of the upcoming midterm elections, market sentiment is extremely fragile. CORE holders, immediately check your holdings list and reset your stop-loss points! Focus only on the current core support; as long as support holds, there is a chance for recovery; once broken, be sure to retreat decisively. Do not blindly increase your position driven by this "asset recovery benefit" hype—the outcome of catching a flying knife is often disastrous. Funds are flowing out; why would you play the savior?
#美国中期选举在即，哪些结果值得关注？ #伊朗授权政府谈判，霍尔木兹重开能否提速？
Iran's Supreme Leader Mojtaba has granted the government certain authorities to negotiate with the U.S., seeking to end the Middle East conflict. The Iranian Foreign Minister immediately proposed a "two-day plan": on the first day, the U.S. fulfills its commitments; on the second day, the Strait of Hormuz reopens and shipping resumes. On the surface, compressing from "seven days" to "two days" seems to significantly accelerate the reopening.
But the actual threshold has not lowered; it has risen. The U.S. must complete a series of actions within one day, including unfreezing Iranian funds, lifting the maritime blockade, granting oil export exemptions, and removing new sanctions. Experts point out that the time compression cuts down the U.S. preparation time, and the negotiation itself is even removed from the plan—the Strait reopening is no longer conditional on resuming negotiations but on the U.S. unilaterally fulfilling its commitments first.
The more fundamental deadlock lies in the logic of the exchange: Iran views the right of passage through the Strait as a tradable asset, while the U.S. believes international waterways should be open by default and does not recognize this as something to be bargained for. Authorizing negotiations has opened a diplomatic window, but the "two-day plan" seems more like a pressure tool rather than a genuine compromise. The reopening of Hormuz is unlikely to truly accelerate in the short term.$BTC $ZEC $SOL On October 30, the French National Assembly rejected two proposals for crypto "exit taxes." Let's look at the specific data first. The first was Amendment I-3904, which aimed to forcibly include crypto assets (including self-custodied wallets where the user holds the private keys) into France's existing exit tax framework. It was directly killed with 55 votes against, 27 in favor, and 1 abstention. The second was I-3432, targeting households holding over €800,000 in crypto assets and who have been French tax residents for at least 6 of the past 10 years. It sought to tax "unrealized gains" when they move abroad, but it also failed with 60 votes against and 31 in favor. Both proposals had been provisionally approved by the Finance Committee on October 8 but were blocked during the plenary debate. The so-called "exit tax" is fundamentally designed to prevent wealthy individuals from fleeing. Even if you move overseas, if your assets have appreciated—even if unsold—the tax authorities treat it as if you intend to cash out and tax you in advance. This time, the attempt to include crypto assets was stopped by the Assembly. However, don't misunderstand: rejecting these two proposals does not mean France is abandoning crypto taxation. Other provisions remain in the budget, such as the clause taxing the conversion of crypto assets into stablecoins, which has already passed but is not yet finalized. The Assembly still has over 700 amendments to discuss, and the entire 2027 budget has been delayed until the November 17 deadline. 0x50c2be4b3958c358e2654c6dabb4feb9e1cc7777 0xe797e34845f5A historical pattern worth noting:
After past U.S. midterm elections, $BTC has always experienced a pullback.
Tomorrow marks a new round of midterm elections. Will BTC break the pattern this time, or will it decline againEpic "Blunt Knife Cutting Flesh": Bitcoin Continues to Fall, a Tragedy Directed by Greed and Fear
As of November 4, 2026, Bitcoin is priced at about $77,700, down approximately 4.7% over 7 days, with the weekly chart approaching a fifth consecutive week of decline. This round of decline is not a crash but more like a blunt knife cutting flesh: weak rebounds, scattered selling pressure, and fluctuating sentiment.
The real pressure comes from three layers.
The first layer is the aftermath of security incidents. On October 29, Binance suffered a hot wallet theft of about $6.3 billion. Although withdrawals have been gradually restored and a guarantee promised, the market remains uneasy about custody risks.
The second layer is institutional fund withdrawal. On October 30 and November 2, the US spot Bitcoin ETFs saw a cumulative net outflow of about $1.04 billion, with BlackRock's IBIT being the main force behind the withdrawal. Institutions can buy, but they also sell quickly.
The third layer is the resonance of macro and political factors. With the US midterm elections approaching, selling pressure on tech stocks, oil price volatility, and concerns over AI capital expenditure collectively suppress risk assets.
The problem with greed and fear is that they are both rearview mirrors. The panic index dropping to 26 does not mean the bottom has been reached; it only means the price has already fallen through a cycle. What truly determines the direction is whether ETF funds will flow back, whether the $76,300–$76,500 range can hold, and whether it can regain footing above $78,000.
This tragedy is not that the emotions have finished playing out, but that the emotions are still unfolding and the chips have not yet fully changed hands. #Circle财报在即，稳定币增长能否兑现收益？ #Circle财报在即，稳定币增长能否兑现收益？ My core view is: Circle's stablecoin growth indeed has the potential to translate into revenue growth, but USDC scale growth does not equal profit growth at the same rate.
The most important focus of this earnings report is not the USDC issuance volume itself, but three variables:
Whether USDC circulation growth continues.
Whether interest income generated by reserve assets can be maintained.
How much revenue is taken by distribution partners like Coinbase.
Among these, the third point is especially important. Circle's revenue growth and the profit ultimately received by shareholders are not the same thing.U.S. midterm elections, what elections and what results? How will it affect the U.S. stock market? An infographic to analyze
I'm trading SNDK, how about you? $SUI is facing monthly unlocks of tens of millions, yet the retail long-short ratio can still be pushed above 2.1.
The project team only buys back 1 million tokens annually, like scooping water out of a leaking boat with a small spoon? The spot price simply can't rise; it's all bulls using leverage to rush ahead.
With no real consumption or burn, under such market conditions, liquidating retail leverage with a spike is just a matter of the whales flicking their fingers. The previous low of 0.82 probably won't hold for long.
#SUI
$SUI
👇$IRYS This rebound looks impressive, but the order book is actually extremely weak.
The price rose by 64%, yet the trading volume plummeted by 85%.
There is basically no capital entering to catch the dip; it's purely a thin order book being forcibly pulled up.
Above, there is a pile of trapped holders stubbornly holding on; if the buying stops even briefly, it could immediately reverse and crash through.
#IRYS
$IRYS
👇I've always been puzzled: whenever there's talk of cutting aid or trouble brewing, should I first buy some hard assets?
But every time the news comes out, the first to drop are the coins. This time is no different. Trump said he wants to end security aid to Israel; Israel was clueless, saying they hadn't even received the documents, yet the market ran first out of caution.
Later I realized, what falls isn't faith, but leverage. People who have multiplied their positions, upon hearing news that can't be priced, their first move is to reduce positions to survive. Whether you believe in Bitcoin or not doesn't matter. $BTC often takes the first hit from its own people.
So when this kind of news comes out, I don't rush to chase. I wait for those forced liquidations to finish before looking for direction. Israeli officials and defense agencies are now very concerned because Trump said that security aid to Israel is about to end. But the most notable thing about this whole matter is not the statement itself, but that Israel has not yet received any formal documents.
Security aid has never been a simple gift; it is the foundation of the US-Israel military procurement agreements. Israel's Channel 12 said this decision will affect the military procurement agreements between the two countries and also impact the Israeli Defense Forces' procurement plans. Even Israel's own defense department cannot clearly explain the meaning or implementation timeline of Trump's statement.
This creates a typical uncertainty gap: the direction is known, but the boundaries are not. What the market fears most is never bad news, but news that cannot be priced.
The transmission path is also very clear. Such events first hit risk premiums, not fundamentals. $BTC often moves first because it is treated both as a risk asset and a safe haven asset, attracting funds from both sides; $ETH and $SOL have greater elasticity, with their rises and falls amplified. But it should be noted that $BTC's reaction is emotion-based pricing, not a fundamental revaluation.
My judgment is twofold. If it is just a statement, it is closer to a bargaining chip, and risk assets will recover their losses within a few days. If it really materializes into a document and is written into the budget, then it is structural, and the Middle East arms procurement chain and the credibility of US fiscal commitments will need to be recalculated.
So what really needs to be watched is not what Trump said, but whether there is that piece of paper. Statements without documents can be withdrawn at any time; policies with documents require portfolio adjustments. In the last round, there were three directions: one win and two losses. BTC went from 77,668.49 to 77,795.30, a +0.16% gain, with neither the take profit at 78,630 nor the stop loss at 77,092 triggered; XRP went from 1.2827 to 1.2803, down -0.19%; TRX went from 0.323390 to 0.321950, down -0.44%. Among the three trades, only one hit the target, and neither take profit nor stop loss was triggered. I will not change any direction or position, and the reasons are below. Voting has already started, but the votes are not yet counted. The market odds for a Democratic sweep of both chambers are 70%, and the options market is even more direct: the implied volatility for the November 4 expiration is 43.5%, which is 7 points higher than later expirations—this is insurance for election night, not pricing the trend. I reviewed the past three full election cycles; the one-year returns were all positive, but none were a straight upward trend. It is normal for positions to be shaken out in the first few weeks after the results land. After the trust collapse in November 2022, there was a two-week decline followed by three months of sideways movement; this time it’s different because the $6.3 billion bomb was swallowed on the same day, and the drop to 76,300 left only a lower shadow candle. The funding situation looks bad: over two trading days, spot products were redeemed for about $1.04 billion, including a single-day outflow of $405 million from a leading institutional fund—the largest since June—and the total industry fund holdings fell below $100 billion. Yet the price climbed back from 76,455 to above 77,800. Money is moving, prices are rising, but the buyers are not from these channels. Here isTriple-line hedging is not a free pass: Big Brother Maji's tough ledger
Big Brother Maji is toughly holding the market with a massive long-short combination: $BTC short, $ETH long, $HYPE short advancing on three fronts, with a total margin of about 5,698,000 U and a total position value of about 62,980,000 U, maximizing the intensity of the game.
The BTC short is the "profit cushion" in the portfolio: 40X full position, holding -249.9 BTC, opening average price 78,104.1 U, unrealized profit +325,700 U, funding fee +166,300 U, liquidation price 103,059.49 U. The ETH long is under pressure: 25X full position, holding 9,823.81 ETH, opening average price 2,427.28 U, unrealized loss -1,722,900 U, funding fee -82,200 U, liquidation price 1,561.77 U. The HYPE short is the main source of loss: 5X full position, holding -259,600 HYPE, opening average price 72.8005 U, unrealized loss -2,765,900 U, funding fee +1,203,000 U, liquidation price 106.72 U.
Roughly summed up, unrealized P&L is about -4,163,100 U, funding fee about +1,287,100 U, still an unrealized loss after hedging. The money earned from the BTC short is being swallowed by the ETH long and HYPE short. #美国中期选举在即，哪些结果值得关注？ #苹果Q4营收超预期，下季度毛利率指引承压 #PalantirQ3营收增长96%，股价不涨反跌 $SOL
8567 SOL tokens. This batch of coins was transferred from the stolen funds address to Privacy Cash this morning, clearly visible on-chain.
At the same time, 1WIN's TGE running on Solana saw a subscription of 61.02 million USDC, oversubscribed by 15.6 times. While some are laundering, others are rushing to grab shares.
Price is 93.34, 1.3% higher than yesterday's opening, just 0.60 away from the 24-hour high of 93.91.
I'm watching the volume. At 10 PM last night, the hourly candle showed 580,000 trades; the latest candle shows 31,131 trades, shrinking nearly twentyfold in nine hours, yet the price remains steady between 93.3 and 93.9.
Open interest is $336 million, with positive funding rates—longs are paying to support shorts.
I'm not chasing this move. Those laundering are selling, those grabbing quotas are buying; neither side is in a hurry. When volume empties, whoever acts first sets the direction. I'll wait until trades exceed 200,000 again before watching.
#美国中期选举在即，哪些结果值得关注？ Short positions account for more than half, but the real pricing factor is not the long-short ratio, it's the number on Friday night
All three coins have a short position advantage, which easily makes people think that "following the trend to short" is a natural choice. But first, take a look at the macro background: the probability of a 25 basis point rate hike in December is already priced at about 75%, with only 25% left for no change. Under this denominator, the overall bearish bias in the crypto market is not "sentiment," but a result of interest rate expectations.
The problem is, between "shorts dominating" and "being able to push the price down," there is a layer of position structure. In the past 24 hours, BTC long liquidations were 203 million, while shorts were only 17.2 million, a brutal long squeeze; but open interest barely moved, and the funding rate remains at a positive premium of +0.65%, with a long-short position ratio of 65/35 still favoring the long side. Long positions were liquidated, but leverage was not cleared—when one batch falls, someone immediately fills the same position. This means BTC's short advantage is an "on-paper advantage," not a "fuel advantage."
ETH is more subtle. The funding rate turned negative to -0.0054%, shorts started paying fees, and short-term sentiment is indeed weak; but open interest still has about 71.94 million contracts, with leverage piled up and not withdrawn. Shorts hold 56.79% while also bearing holding costs. The more crowded the shorts, the greater the elasticity of the reverse sweep.
So "shorting at this position is not cost-effective" is correct, but the reason is not "too many shorts," rather the nonfarm payroll on Friday is the real directional arbiter. October's new job additions are expected at 65,000, previous value 29,000. Just now, both speakers were turned down together. Around 05—06, BTC touched 78000, and ETH almost reached 2300. In the next hour, neither side reached the previous high again, closing slightly lower, and the trading volume also dropped together.
According to OKX spot data, from 06—07, BTC trading volume was about 20% less than the previous hour, and ETH was down by more than 20%. The hourly volatility on both sides narrowed, but placing this closing back into the 00:00 to 04:00 range, the difference remains. BTC closed at 77880, just 24.6 USDT below that highest price segment; ETH closed at 2293.29, still below the midpoint of its range.
I will treat this as a pause after a surge. Both coins are quiet together, but they may not choose the same direction. If BTC later also closes below the midpoint of the previous four hours, this positional advantage will fade. If ETH first recovers its midpoint, then the gap between the two will show signs of narrowing. Data is as of 07:00 Beijing time on November 4; the new hourly and current four-hour candles have not closed yet. For informational purposes only, not investment advice.$CORE CORE is now completely a pile of useless mud that can't be helped. On-chain data shows transactions flying fast, with 34,000 transactions in a single day, but guess how much the DEX trading volume is? Less than $150. This isn't even wash trading; it's pure empty self-entertainment.
The buy orders have long been drained, and even a little selling pressure is a bottomless pit, with order book support thinner than paper. The most critical issue is the 166 million "untraceable" ghost tokens still hanging overhead. Exchanges are shutting down one by one, the main players don't even bother to pretend anymore, just shuffling assets left to right to keep the lifeline alive. Don't catch the falling knife.
#CORE
$CORE
👇Fear and Greed Index at 27, down 11 points from yesterday. 📉 Sentiment has entered the "fear" zone, but fear itself does not constitute a bottom signal. BTC is currently around $77,000**, down 1.74% in 24H, daily low at **$76,641, with a 24H spot net outflow of $81.58M, weekly spot net outflow of **$488.59M**, and weekly contract outflow of $3.00B**—outflows are narrowing but have not turned positive. Price remains below MA(5) $77.39K and MA(10) $78.73K, structure not yet repaired. On the ETF side, on November 2, Bitcoin spot ETF had a net outflow of **$399M, with BlackRock IBIT withdrawing $405M in a single day. ETH is relatively resilient, currently around $2,300**, up 1.18% in 24H, daily low at **$2,242 but recovered. However, the capital flow is not supportive: ETH spot ETF has had net outflows for 6 consecutive days, with a single-day outflow of $140M on November 2**, ETHA accounting for **$138M. Price rebound and ETF bleeding are happening simultaneously, raising questions about sustainability. SOL is around $93.5, basically flat in 24H, but the liquidation structure is extremely skewed: over 90% of 24H total SOL liquidations are longs, with shorts only about $2.5M. Longs are crowded, the fuel for the rebound is in Has $BTC $ETH pulled through? Can the ICU tube be removed or should it be transferred to a general ward!
"Snapshot of Chips in the Squeeze Market"
Currently, the daily chart is oscillating back and forth on a flat needle, with a chip wall above and support piles below, the price rubbing back and forth in the middle
First, look at the 24-hour concentration zone below: BTC 76236.7, funds 44,062,700, -0.73% from current price; ETH 2233.08, 10,697,500, -0.76%; SOL 90.69, 4,911,400, -0.97%. Close support clusters make it easy to find backing when falling
Above is not empty either: BTC current price 76798, upper concentration at 78721.3, 42,124,600, +2.50%; ETH current price 2250.27, upper 2297.66, 20,388,100, +2.11%; SOL current price 91.58, upper 95.26, 6,116,600, +4.02%. The chip concentration overhead is also dense
The squeeze has not broken yet, with many short-term disturbance windows back and forth. Focus on which edge loosens first, don’t chase shadows, be cautious catching flying knives!
#PalantirQ3营收增长96%，股价不涨反跌 Historical benchmark is somewhat positive: In the 12 months following 19 midterm elections since 1950, the S&P 500 posted positive returns every time, with an average gain of about 15%; however, the process was not smooth. In 11 of these 19 cycles, there were drawdowns exceeding 10%, and the median low point often occurred about 5 weeks before the election. The election outcome mainly serves to "end uncertainty" rather than "create a bottom." Sector-wise, in the three months after the election, Information Technology, Real Estate, and Communication Services showed relatively outstanding average returns, reflecting a phase of risk appetite returning.
But 2026 presents a key difference: suppressing factors are not limited to the election. Currently, the U.S. stock market faces triple headwinds from AI capital expenditure concerns, midterm elections, and liquidity tightening, with liquidity considered the greatest risk. The Federal Reserve is holding interest rates steady, but the market still prices in a high probability of a rate hike in December, and the 10-year U.S. Treasury yield remains elevated. HSBC warns that historical patterns may mislead this time, as risks like excessive AI investment and Middle East tensions persist.
The impact of the election result itself on direction is also overestimated. In cases of divided government, the average gain one year after the election is about 15%.
In summary: For the U.S. stock market after midterm elections, historical patterns provide a probabilistic advantage, not a smooth upward line. The record of positive returns in the 12 months post-election is striking, but double-digit drawdowns mid-cycle are normal. What truly determines the height of the trend is not which party controls Congress, but whether the Fed hikes rates in December and whether AI capital expenditures can translate into profits. The election gives the market a "breather," but how long it lasts depends on macro variables.I always thought that when short on money, bonds would be issued, but I didn't expect the Treasury to buy bonds back. On November 4th, it plans to spend up to $6 billion to buy back some 10- to 20-year government bonds.
Sounds impressive, but this amount is actually tiny in the government bond market. It's more like a signal saying: I'm keeping an eye on the long end.
As for whether $BTC will rise because of this, don't overthink it. A bit more liquidity is good, but $6 billion won't move a big market. If you want to get a feel for it, you have to see if there's another round coming.On November 4th, the U.S. Treasury plans to repurchase up to $6 billion of 10- to 20-year Treasury bonds. The scale is not large, but the direction is worth noting — this means the Treasury is injecting money into the market, not withdrawing it.
First, let's look at the focus. The $6 billion will be used to buy medium- to long-term old bonds with maturities of 10 to 20 years, not short-term overnight bonds. The medium- to long-term segment is precisely where liquidity is thinnest and where selling often causes sharp price drops. By using cash to buy back these old bonds, the Treasury is effectively cushioning the most fragile part of the entire yield curve.
To clarify the mechanism: this is debt management, not monetary policy. The Treasury's repurchase of outstanding bonds moves money from the Treasury account to bondholders, increasing cash in the market slightly and pushing down long-term yields a bit. It will not cut interest rates or expand the balance sheet, but it does ease the cost of money marginally.
For crypto, this is a marginal variable, not a driving force. $BTC is most sensitive to liquidity and often reacts first to such moves; $ETH follows risk appetite and needs the stock market to cooperate; $SOL is the most volatile, rising quickly and falling quickly. The real determinant of direction remains how interest rates move afterward.
One point worth considering: $6 billion in the U.S. Treasury market is barely a drop in the bucket. So the value of this round of repurchases lies not in the scale but in the fact that the Treasury is willing to act on the long end. The market reads the attitude, not the amount.#تقرير Circle earnings are on the horizon, can stablecoin growth deliver returns? The market doesn't lie: The positives and pitfalls of three coins🌊
$TRX On-chain volume is brisk, but the market looks calm. About $242 million stolen funds were laundered through the TRON channel in two days, with turnover ten times the hacker's holdings, yet the price remains steady; more troubling is that about 475 million TRX are still held by the hacker, and a slow sell-off is the real risk.🧨
$UNI The rise has two drivers: DEX market share grab, and protocol revenue plus burn expectations; an 18% weekly gain shows capital favors stories with "cash flow." But the sell wall is real too: hackers have cashed out about $22.8 million via swaps, with 3.16 million tokens still to be dealt with. The narrative pushes up, while chips press down.⚖️
$LIT License expectations lead the rally: near the top of gainers, FDV about $3.4 billion, planning to apply to the CFTC in November; if approved, it will be a compliant on-chain perpetual in the US. But the contract reveals another side: 50% of team and investor tokens locked until December, then linearly released over three years; buying above $3 is buying expectations, after December supply pressure awaits.🎢
Summary: Watch $TRX at 0.30 and hacker holdings, $UNI at $7 to see if the sell wall is absorbed, and $LIT for overextended expectations above $3.📌Bithumb's announcement—did it make CORE holders' hearts skip a beat? If OKX follows suit tomorrow, will you still hold onto your CORE? When I saw the news this morning that Bithumb would stop supporting CORE trading pairs, I stared at the order book for a few seconds. It wasn't because of how large my position was, but that real feeling of "the trading channel is narrowing" was more alarming than a single bearish candle. The original statement was actually quite restrained: OKX hasn't announced anything yet; it's just a hypothesis. But the market never waits for announcements to move; it trades on expectations, on the fear of "will I be next?" Let's clarify the facts first. Bithumb announced it would stop supporting trading, not that the project is worthless or that on-chain assets have disappeared. This difference is huge, but the market often prices in the worst-case scenario first. For assets like CORE that rely on centralized exchange access, once the main channels shrink, the first to be affected is the trading depth, then the quote slippage, and finally the psychological defense of holders. You'll find that what really gets repriced isn't the token itself, but the "convenience of exit paths." There's a second layer of transmission that's easy to overlook. When exchanges delist or stop support, the short-term impact is on CORE's spot sentiment, but the mid-term effect changes the preferences of a certain class of capital: market makers don't want to hold inventory in assets with uncertain channels, quantitative strategies will remove such coins from their whitelists, and projects in the altcoin sector that "depend on traffic from a single platform" will be re-evaluated. BTC and ETH What does the Binance hack incident illustrate? What lessons does it offer?
This largest-ever coin theft at Binance shatters the illusion of absolute security at top exchanges. The hacker did not break private keys but gained internal permissions and exploited the EIP‑7702 authorization mechanism to transfer funds. This reveals that custody security weaknesses often lie in personnel, permissions, and processes, and even the largest platforms face single points of failure risk.
The underlying mechanisms of different tokens determine vastly different fates after theft: stablecoins have issuer freeze permissions to block and limit losses; governance tokens like SNX can be recovered through contract permissions; pure PoW coins like BTC, ZEC, and RVN have no centralized switch, making on-chain confirmed transactions nearly irreversible.
Custody is only a platform’s credit endorsement, not true ownership of your assets. For long-term holdings, self-custody is preferable; exchanges should only hold short-term trading funds. Do not place all your chips on a single platform.
The fundamental logic of inflation and scarcity also manifests in security incidents: coins with a hard cap rely on consensus and computing power for value; coins with unlimited issuance face not only custody risks but also ongoing long-term pressure from dilution. The big short position holder on the $SOL chain hasn't withdrawn yet; the liquidation line for 250,000 SOL is stuck firmly at 123.
With such an obvious target hanging on the chain, how could the main forces on the market let it go? Large spot funds below are continuously supporting the price, and the long leverage in the market has mostly been washed out.
As soon as it pushes up a bit and triggers a forced liquidation, a huge passive buy order will directly crash into the market. Each of these people will be carried out one by one.
The shorts are purely holding on by tough talk this round; it's almost time for the buy orders to settle.
#SOL
$SOL
👇Three coins rebound simultaneously, all with shorts pressing down on their heads. But at their feet, they diverge into three paths: ETH clears shorts below, shorts above are recognized by the cycle, bulls are pushing; BTC bulls are cleared, positions are still withdrawing, no one is catching the rebound; SOL's liquidation amount is an order of magnitude smaller, the short above is a bull trap not recognized.
$BTC | Resistance 78,230 | Support 76,440
BTC short above 78,230 is 0.50% from the current price, very close, but the cycle only recognizes downward movement, not this upward wave; long below 76,440 is 1.80% away and is more solidly recognized by the cycle. The liquidation amounts above and below are almost symmetrical, each about 21 million. The 4-hour Bollinger middle band is up 0.37%, bandwidth 2.81%, amplitude 0.70%, very small, price is moving sideways. Positions withdrew 1.29% in 24 hours; among nearly 14 liquidations, 95% were longs, big players are bearish, retail is catching, the rebound is a short squeeze with no one catching it. The short above is very close but not truly touched, the side below is heavier.
$ETH | Resistance 2,322 | Support 2,276
ETH long below 2,276 is 0.72% close to the current price, but the cycle does not recognize downward movement; short above 2,322 is 1.28% away and is recognized by the cycle; liquidation amounts above and below are each about 20.78 million. The 4-hour Bollinger middle band is up 0.80%, bandwidth 3.13%, amplitude 0.89%, price is above the middle band. Positions increased 2.40% in 24 hours, volume ratio 3.05 shows obvious volume expansion; among nearly 10 liquidations, shorts dominate.HOT current price is 0.00056200, exactly stuck at the upper edge of the short position liquidation dense zone. MACD is still rising, the 50/100/200 moving averages are in a bullish alignment without divergence, but RSI is already close to overbought, indicating a clear discount on short-term upward momentum. The 24-hour market volume of 63.85 billion USD is shrinking, showing that incremental funds have not kept up. For small-cap coins like HOT, the pump relies more on stock game. After short positions above 0.000562 are triggered, a quick spike followed by a pullback is likely, making chasing longs a poor risk-reward trade.
Just moved the electric bike that was parked disorderly outside the booth into the line, now back to watching the market.
Trading bias is bearish on pullback: do not chase longs near the current price of 0.00056200, wait for a rebound to the 0.00056500 to 0.00056800 range to try light short positions in batches, with the first take-profit target at 0.00054800 and the second at 0.00053800. Place stop loss at 0.00057500; if it holds above this level, it means liquidation momentum is not over, and shorts must be exited. If the price directly breaks down below 0.00054800 with volume, do not catch the falling knife; wait for a pullback confirmation before considering a short-term long. Control position size; in this overbought and liquidation-squeezed market, the probability of stop-loss hunting back and forth is high.
$HOT
#PalantirQ3营收增长96%，股价不涨反跌
@OKX星球 Epic Slow Bleed: CORE Keeps Falling, a Game with No Winners
As of November 3, 2026, CORE is priced at about $0.012, down approximately 29% over 7 days, with a 24-hour trading volume of only about $3.09 million and a circulating market cap of around $12.48 million, down over 99% from its all-time high. This is not a sudden crash but a daily slow bleed: weak rebounds, thin support, repeatedly frustrated narratives, making holders increasingly passive. The first blow was a security incident that shattered trust. On October 31, the b14g dual staking protocol was attacked, with about 97 million CORE tokens withdrawn without authorization. On November 3, the Core network recovered about 68.15 million tokens through a hard fork, accounting for approximately 70.2% of the affected amount, but these have not yet been allocated to affected users, and frozen exchange funds have not been returned. The second blow is the slow implementation of the buyback mechanism. The 2026 roadmap proposes revenue-driven buybacks sourced from BTC staking yields, AMP management fees, LST issuance fees, ecosystem transaction fees, and more. However, the current real ecosystem revenue scale remains small, making it difficult to offset the trust loss after the security incident. The third blow is the delay of key modules. lstBTC development is suspended due to Maple-related compliance issues, weakening the short-term implementation capability of the BTCFi flywheel. The fourth blow is liquidity drying up. Trading volume is only about $3.09 million, and a small number of sell orders can easily crush the price, with rebounds lacking support. The fifth blow is ghost tokens looming overhead. Recovered tokens, frozen funds, and affected user balances remain unclear, potentially becoming latent selling pressure at any time