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Seeing many traders in the square holding 2x and 3x long leveraged ETF tokens, here’s a real example of the actual loss from leveraged ETFs. Never hold long-term leveraged long ETFs!
Using Intel as an initial example: underlying stock at 96.34, 2x long ETF price at 19.36
Even if it opens on Monday and rises 10% 📈 every day for 3 consecutive days.
Day 1: Underlying stock drops 30% | stock = 67.438, ETF drops to 7.744
Day 2: Stock rises 10% | stock = 74.1818, ETF = 9.2928
Day 3: Stock rises 10% | stock = 81.59998, ETF = 11.15136
Day 4: Stock rises 10% | stock = 89.75998, ETF = 13.381632
Day 5: Stock rises 10% | stock = 98.73598, ETF = 16.0579584
Day 6: Stock rises 10% | stock = 108.60958, ETF = 19.26955008
👉 Key result:
The underlying stock fell from 96.34 to 67.44, then rebounded all the way to 108.61, which is about a 12.74% increase from the starting point!
But the 2x long ETF is only at 19.27, not yet back to the initial cost line of 19.36, still at a loss.
Principle: Leveraged ETFs reset leverage daily. Once a big drop occurs, even if the underlying stock recovers or hits new highs later, the losses caused by volatility will eat into the gains.
Leveraged ETFs are only suitable for short-term one-sided trends and are very unsuitable for long-term holding. $LSK This strong pull-up is a bloodbath for shorts on the order book.
Price surged sharply, funding rate directly dropped to -1.4%, and open interest surged by over 40%.
The proportion of large long positions has been steadily declining; there is basically no new capital taking over.
Positions are purely being passively squeezed up.
Wait until these shorts paying interest are completely drained, then see who catches the falling knives at the bottom.
#LSK
$LSK
👇$LSK LSK's funding rate has directly dropped to -1014%.
The shorts are stubbornly holding at this level, paying interest to the longs every day as protection fees.
The spot market just openly burned 100 million tokens, forcibly removing a quarter of the supply.
The market cap has been made so light, and on top of that, it's full of stop-loss orders from the shorts. Just a little capital push upwards will immediately trigger a chain of liquidations.
#LSK
$LSK
👇Three “positives,” but don’t pop the champagne yet🍾
Lately, the announcements look more and more like a numbers game. What I care about more is: will anyone actually pay in the end?
TIA: Voyager’s prototype test is explosive, single node about 21 million transactions per second over 5 hours, simulating 100 million accounts. But the official team also admits it didn’t include state root calculation, node replication, or real-time queries, and it doesn’t mean the mainnet has achieved this throughput.🚀 Next step is to see if it can be reproduced in production and the cost under real load.
LINK: Hanwha Investment & Securities adopts Chainlink data standards and CCIP to serve the RWA tokenization platform, which is the right direction.🏦 But partnership news ≠ asset scale; the key is issuance volume, cross-chain call frequency, and whether LINK is continuously consumed.
OSMO: New minting has dropped from 91,324 per day to zero, with staking rewards now supported by protocol revenue.🔪 This is not a high-yield promise; if transaction fees aren’t enough, stakers still bear the pressure.
I bet on the direction that can form a real fee closed loop. Of the three, first watch if LINK’s RWA can generate sustained paid calls; TIA for production deployment; OSMO to see if revenue can cover incentives. Don’t just compare big numbers, show the bills.📊#美联储官员释放加息信号，12月预期仍存分歧 #OKX、ICE与Trade.xyz联手，推动永续合约进入美国合规市场 What the hell is going on? This guy suddenly unlocked his stake—is he about to dump or shake the market?
On-chain data just revealed that a guy suddenly unlocked 304,600 $HYPE tokens! At the current price, that's $27.19 million, a solid $27 million dumped on the market—who can withstand that?
I traced the address and this guy is something else. He bought this batch from Galaxy Digital three months ago, probably locked and staked them right after buying, then stayed silent for a full three .In-depth Analysis: Is it possible that hackers are dumping ETH (Ethereum)?
Recently, many people have been spreading rumors about "400,000 ETH being dumped by hackers"... First of all, this number is incorrect.
So what is the actual figure?
The ETH that hackers initially obtained and can freely transfer and circulate is divided into two parts:
Native ETH is about 195,000; hackers borrowed about 19,762 WETH on Aave by collateralizing stolen USDT, which can also circulate. In total, the ETH available to hackers is approximately 215,000.
Additionally, 29,934 WBETH staking certificates that were stolen have since been frozen by Binance contracts, so hackers cannot unstake, exchange, or sell them, meaning they will not create selling pressure.
Another point to note: hackers will gradually sell PEPE, LINK, and other altcoins on DEXs and convert them into ETH over time. This portion is dynamically increasing and was not part of the stolen stock at the time.
The widely circulated figure of 400,000 ETH is actually the total value of stablecoins, altcoins, BTC, and other assets converted into ETH at market prices, not the actual Ethereum spot holdings in hackers' hands. This is a misinterpretation caused by differences in statistical scope.
Many people naturally think that large-scale coin theft would lead to immediate concentrated dumping.
However, the hackers' main addresses are continuously tracked and monitored on-chain. If they distribute coins in bulk over a short period, the derived addresses are easily flagged by risk control, and deposits to exchanges risk being intercepted and frozen.
To successfully liquidate, hackers usually have to split the amounts, stagger the timing, and disperse to multiple addresses for gradual circulation. This approach naturally extends and dilutes selling pressure, making concentrated dumping unlikely.
At the same time, large one-time sales cause high slippage, and hackers have no incentive to actively push prices down. They prefer to disperse and slowly offload their holdings.$SNDK's earnings report hit like a sucker punch📉. Revenue at 11 billion, up 378% year-over-year, data center growth nearly 17 times in one year, gross margin at 85%, and they announced a 1-for-8 stock split. Yet, it dropped pre-market as a sign of respect, nearly -10% during trading, with Hynix following down -7%. The comment section is lined up with "cycle peak" claims, the reason being: too good to be true, so it must be the top🤔.
I don't buy it. Storage does have cycles, no doubt, but does a peak look like this? PE at 8.9x, Hynix at 10x, clearly discounting a "collapse next year," not giving a growth premium. True bubble tops usually have PE multiples in the tens, everyone shouting "this time is different," and retail investors flooding in. This looks more like fear running first🏃.
AI data centers grabbing storage is real demand, with orders lined up through 2028, not just a PPT concept📦. I'm not advising bottom fishing, nor calling a reversal. Just a reminder: those panicking and cutting losses today might be the same people who chased highs a few days ago🧊. The market votes on sentiment short-term, weighs performance long-term, don't let candlesticks think for you. #美联储官员释放加息信号，12月预期仍存分歧 #OKX、ICE与Trade.xyz联手，推动永续合约进入美国合规市场 On the surface, it looks like "bought Google again," but underneath, it's actually a repricing triggered by the earnings report. Is it normal for the same company to have more than double the price difference on two sides? I just had an order taken away by the system this morning, and in the evening, I re-entered the market with a different pricing system, with a reason so simple it's almost funny: the price reached the level I wanted to buy at. But what’s really worth watching is not this operation itself, but what the market is trading after the earnings report. Revenue is still growing, but net profit is declining, and earnings per share didn’t meet expectations — this combination is the easiest to misjudge, because the headline looks okay, but the profit side is quietly deflating. My own feeling is that the excitement is in revenue, the pressure is on profit. The former is the story, the latter is the anchor for pricing. When profit and expectations both loosen, the market will first cut valuation multiples, then slowly digest the quality of growth. This process is often half a beat slower than the news headlines, but the transmission is very real. The more bullish path is: if this is just a short-term profit pullback caused by increased investment, and the revenue base hasn’t collapsed, then the correction will actually attract those willing to look long-term to buy in batches. The bearish risk is more hidden — if profit decline is interpreted as structural cost increases, the valuation center will shift downward, and this correction won’t happen all at once, likely turning into a repeatedly grinding rhythm. For BTC and ETH, the earnings impact on these tech heavyweight stocks acts more like a sentiment thermometer. Risk appetite gets knocked, high beta assets shake first, and altcoins usually have greater downside elasticity. Conversely, if the market ultimately digests Google’s earnings as a "one-time investment," when risk appetite warms up again #Can the high growth of SanDisk's storage business continue? $SOL's chart looks like it's about to break up, with $2.1 billion withdrawn from contracts in a month.
The screen is full of long positions getting cut.
But looking at the spot market, there's been a quiet net buy of over 52 million in half a month.
All the leveraged chips soaked in blood have been taken underwater by large orders.
The vehicle has been lightly washed, and the spot is locked in.
By the time the shorts react, the base positions have already changed hands.
#SOL
$SOL
👇Hyperliquid Whale Data Revealed: Shorts Extremely Crowded, Short Squeeze Counterattack Imminent?
Hyperliquid data shows shorts are extremely concentrated. The total network open interest is $10.39 billion, with shorts holding $5.66 billion, dominating the market. In funding fees, shorts have earned $110 million, while longs have been forced to pay $64.56 million, with whales overall still holding $63.87 million in unrealized profits. This extreme funding rate and long-short ratio suggest shorts are over-crowded and face the risk of being squeezed.
On the chart, whales are focusing on "buying to close shorts" (involving BTC, NEAR, ETH, etc.) and testing "buying to open longs" (BTC, HYPE), indicating that the main players are taking profits and building positions at the bottom. However, some whales are still "selling to close longs," showing market divergence. Currently, BTC is at 77,621, with a large accumulation of green short liquidation chips on the upper right side. The top three whales stubbornly hold over $540 million in BTC and ETH shorts; once the price breaks through, it could easily trigger a chain reaction of short squeeze rallies.
Practical Strategy:
1. Follow whales' short covering in the short term, lightly try going long near BTC 77,000, strictly set stop loss at 75,000, aiming to play the short squeeze rebound caused by short liquidation, targeting the 80,000 level.
2. If the rebound reaches the dense resistance zone between 80,000 and 81,000 with shrinking volume, consider shorting at opportunity, defending previous highs.
3. Pay attention to large whale long openings in HYPE coins, re-enter on pullback support.
4. With intense long-short battles, avoid heavy positions, keep total holdings within 30%, strictly stop losses, and reserve ammunition for sudden spikes. $BTC #PalantirQ3Valuation OKX Market Insights | BTC/ETH Liquidation Data Analysis
Key Points: Significant divergence in long and short positions in the contract market over the past 24 hours
BTC experienced a "long squeeze," while ETH was dominated by "short covering," with the divergent trends indicating the market is in a directional decision phase
1. BTC: Long Stampede
24h total liquidations reached 41.45 million, with long liquidations accounting for over 73% (30.55 million). The extreme "long$TRX has been on a roller coaster these past couple of days. On the early morning of the 30th, it once surged above $0.36, but now it's back around 0.307, down 7% to 9% in 24 hours and over 6% in a week. Meanwhile, BTC actually rose slightly by more than 1%, hovering around 77,600 📉
The issue still stems from the Binance hack. The USDT stolen on the Tron chain could be frozen by Tether at any time. The hacker swapped about $200 million USDT for approximately 638 million TRX on SunSwap, even paying a premium, which pushed the price up temporarily. Unlike USDT, TRX has no issuer who can freeze tokens. This batch of coins was then split into many new addresses, and on-chain data shows a transfer of 120 million TRX.
The earlier price surge was then given back. The market's understanding is that these coins will be sold sooner or later. On the contracts side, TRX funding rates are negative, with many betting on a price drop.
Next, there are two scenarios to watch: if the hacker’s TRX remains idle and Binance resumes withdrawals as planned, selling pressure concerns may gradually ease; but if large-scale splitting, transfers, or swaps into other coins continue on-chain, TRX could remain under pressure for a while longer.#闪迪业绩超预期并宣布拆股，股价跌逾13%
Brothers, SanDisk's earnings report is truly magical. Revenue surged dramatically, profits far exceeded expectations, and they announced a 1-for-8 stock split plan, yet the stock price dropped over 13% after hours.
Why did good news turn into bad news? Three reasons:
First, expectations were set too high. The stock price had an extremely exaggerated rise in the past year, and the market priced it as "perfect." Once guidance didn't "greatly exceed imagination," profit-taking directly crushed the stock.
Second, stock splits at cycle highs are usually a contrarian indicator. When the stock is too expensive, splitting to attract retail investors is often seen by veterans as a signal from management that the stock price has peaked.
Third, the semiconductor sector is facing a broad valuation cut. Intel's disaster caused tech stock funds to retreat overall.
Linking to the market, tech stock valuation cuts directly suppress risk appetite. Bitcoin is currently around 77,400, fluctuating repeatedly between 76,500 and 78,000.
For operations, Lao Mo offers practical advice: those with positions should strictly stop loss below 76,000; those without positions should not catch a falling knife, wait for a pullback to 76,500 with reduced volume and stabilization before considering.
Macro risk-off sentiment hasn't dissipated; don't stubbornly fight the trend with fundamentals. What do you think about this tech stock sell-off? Let's discuss in the comments. $BTC $ETH $SOL The market is currently guessing whether there will be a rate hike in December, with probabilities given at 78%—82%, and economists almost unanimously betting on a hike. To be honest, whether there will be a hike or not is actually an open card. What concerns me more is that the October meeting already showed some serious cracks: 10 to 2, Cook and Harker directly voted against, demanding an immediate 25bp hike. Board members and regional presidents opposed together in the same session, the first time since 1992. This signal is quite clear: there is no consensus on inflation among insiders. The statement was also changed, with the economy described as "strong" instead of "solid," and the phrase "this action supports inflation returning to 2%" was removed. What does this mean? It means they are not committing in advance on the next move. After Waller took office, it got even more extreme; at the press conference, he directly said "don't preset meeting outcomes," and unless there is a crisis, don't rely too much on forward guidance. KPMG's phrase "December is live" is quite fitting: the meeting is live, but no previews are given. He himself doesn't even provide a dot plot forecast and plans to have one meeting per year starting fall 2027 without voting, dedicated solely to discussing the framework. On the surface, this reduces meetings, but in reality, it cuts out the nodes that can be priced in advance. For traders, this is not a friendly move, it's volatility. The September dot plot already raised the year-end median to 4.1%, corresponding to one more rate hike; 4.1% in 2027, basically steady; 3.9% in 2028 before a cut. On the inflation side, core PCE is still at 3.4%—3.6%, CPI at 3.7%, not close to 2%. Waller is stubbornly sticking to 2% without a range, so "higher for longer" is not just a slogan, it's the framework. There isHistorically, the S&P 500 has averaged roughly 14% gains in the 12 months following midterm elections, as political uncertainty tends to ease once results become clear.
A divided Congress could limit major policy changes, while a Democratic sweep may increase regulatory scrutiny across technology, AI, energy, financials and crypto. A Republican sweep, meanwhile, could reinforce expectations of deregulation.
#BTCUnderPressure 💥BTC tug-of-war at 76,000! Don't guess the bottom, wait for confirmation🔥
$BTC sharply dropped and is weakly consolidating near 76,000–78,000 USD, with bulls and bears both hesitant to make big moves. The trigger was Binance's security incident combined with a bearish macro environment, causing funds to withdraw together and prices to plunge rapidly.
Key level breakdown
76,000 USD is seen by many as the "bull market dividing line": if it holds, it might just be a shakeout; if it breaks, the risk of dropping to 67,000–69,000 USD becomes significantly higher. Short-term resistance above is 78,500–79,000 USD; with less weekend liquidity and weak sentiment, breaking through directly is difficult; stronger resistance lies at 80,400–81,400 USD. Don't rush to guess the bottom; waiting for a stable breakout with volume is more reliable than bottom fishing early.
Funds are battling
Large orders flowing out, main force net outflow, and order book pressure indicate bearishness; but ETFs have some capital inflow, creating a hedge. Three triggers to watch: whether a second run on withdrawals occurs after Binance resumes withdrawals, and whether the reserve proof is reliable; under high interest rates, risk-free yields of 4%–5% suppress appetite for chasing highs, and there is still disagreement on December rate hike bets; the November 3 midterm elections bring regulatory concerns, but uncertainty will be resolved post-election, possibly leading to capital inflow.
Personal thoughts
In the short term, watch if 76,000 USD holds. If it holds, the bottom structure is initially established; if not, seriously prepare for a drop to 67,000–69,000 USD.
Market observation only, not investment advice
$BTC
#美联储官员释放加息信号，12月预期仍存分歧 #美联储官员释放加息信号，12月预期仍存分歧 Three days remain until the U.S. midterm elections, and gas station price boards look worse than the polls. According to GasBuddy, the national average gasoline price on Friday was $4.20 per gallon, nearly 40% higher than the same period last year; diesel was $6.32, up about 70% year-over-year. Analyst DeHaan said this will be the most expensive Election Day fuel prices ever. Trump promised in 2024 to cut energy prices in half within a year and reduce gasoline below $2, but now calls it a "small price" to prevent Iran from acquiring nuclear weapons.
Fuel prices won't come down, stuck until after November 3. Trump said no strikes on Iran before the election, effectively leaving room for action afterward; the last confirmed U.S. airstrike was on September 1. Qatar's mediator talked for over 12 hours in Tehran on Friday, aiming to avoid a new round of attacks after the election, and continued talks in Doha on Saturday. However, Iranian Foreign Minister Araghchi said there was no intention to meet with the U.S., and Supreme Leader Mojtaba Khamenei's account posted the same day that any threat will be met with "unrestricted" retaliation. On Friday, Iran also reported four oil tankers hit mines in the Strait of Hormuz; Brent crude rose 2.4% in December delivery, closing at $117.64, the highest since late April.
In these last three days before the election, oil prices are pre-pricing the post-election impact. If Doha negotiates a ceasefire framework, Brent could drop a few dollars first, and gasoline would ease; if talks fail and the U.S. military acts after the election, Brent will surge past the March wartime high, with diesel and airfares rising again before Thanksgiving, and November CPI will be dragged up again by energy costs. $BZ $CL #美联储官员释放加息信号，12月预期仍存分歧 $LINK whales have been relentlessly moving LINK into cold wallets for 18 consecutive days.
Retail investors are still being scared by hackers crashing the market, frantically selling off their chips, with contract positions shrinking drastically—pure panic and stampede. But these people forget there's a clear buyback promise hanging above: Binance officially announced it will backstop and repurchase over 2 million stolen tokens.
The circulating chips in the exchange have already been pulled tighter and tighter, and soon they will have to absorb a targeted buy order worth tens of millions of dollars. Shorting at this point is basically just handing wealth to the platform.
Those who keep moving coins to cold wallets daily and those who keep cutting losses will eventually have to admit defeat.
#LINK
$LINK
👇Bitcoin held around 77,400 late Saturday night, while Binance is still covering that 6.3 billion gap. The money hasn't gone far, jumping back and forth among STX, HYPE, and MORPHO.
$STX is near 0.315, with a wick that pulled back again
Up 12% in 24 hours. On Saturday, a 4-hour candle surged to 0.399, the largest volume since mid-October, but soon gave up more than half. No new news matches this; what supports it is still Bitcoin staking, with 493 million STX locked up.
$HYPE is near 86.9, unable to surpass previous highs 🩸
Down 5.4% in 24 hours. NYSE parent company ICE invested in TradeXYZ to launch regulated US perpetuals on Hyperliquid. HYPE rose 25% in three days. Today it was pushed back near the historical high of 98, and 9.92 million tokens will unlock on November 6.
$MORPHO is near 2.21, lending sector taking over
Up 7.9% in 24 hours. RWA market deposits just passed $2.1 billion, but there’s no specific news today; it seems more like a catch-up rally following AAVE.
All three are testing if there’s anyone to buy after the rise. HYPE has ICE backing but awaits CFTC approval; if 85 breaks, it will drop to 75. The long upper wick on STX tells half the story; failing to close above the 0.33 monthly moving average is a wick. MORPHO has numbers but no buybacks; every attempt above 2.2 meets selling. #OKX、ICE与Trade.xyz联手，推动永续合约进入美国合规市场 📊 OKX Market Insights | BTC/ETH Liquidation Data Analysis
Key Points: Significant divergence in long and short positions in the contract market over the past 24 hours
BTC experienced a "long squeeze," while ETH was dominated by "short covering," with the divergent trends indicating the market is in a directional decision phase
1. BTC: Long Stampede
24h total liquidations reached 41.45 million, with long liquidations accounting for over 73% (30.55 million). The extreme "long kills long" corresponds to a key support break, and the clearing of high-leverage longs has released downward selling pressure. Beware of a potential secondary dip risk.
2. ETH: Shorts Hurt
24h total liquidations reached 6.45 million, with short liquidations of 4.51 million dominating the market. The upward shift in price forced bears to stop losses ("short squeeze"), but against BTC's weakness, there is a risk of ETH experiencing a subsequent catch-down.
Strategy Suggestion
The divergence between BTC and ETH is unsustainable. If BTC stabilizes, ETH may continue its strength; if BTC dips, ETH is likely to catch down. Given the current high volatility, it is recommended to reduce leverage and avoid aggressive speculation
$BTC $ETH 6 billion in security incidents only caused a 3% drop, BTC's resilience signal is worth savoring 🧐
To be honest, this time $BTC's performance was somewhat unexpected.
If you had known in advance that the world's largest centralized exchange would suffer a security incident exceeding 6 billion dollars, most people's first reaction would definitely be that Bitcoin would face a severe sell-off. But in reality, today $BTC only dropped about 3%.
📊 Impact and reaction: With such a large-scale negative event, the price did not experience a panic collapse, indicating that selling pressure was absorbed and market sentiment did not lose control. This kind of "should have dropped but didn't drop much" trend is often more worth paying attention to than a simple rise.
🔍 Signal interpretation: Holding key ranges when negative news is concentrated may mean that pessimistic expectations have been partially priced in and the bottom area is gradually approaching. Of course, resilience in a single day does not equal confirmation of a reversal; further observation is needed to see if the pressure resistance continues.
At least this time, BTC gave an answer worth savoring with a 3% drop.What makes this worth paying attention to is the revenue opportunity.
Pump's mobile app has already generated approximately $4.46M in protocol revenue in October, compared with $3.73M in September, according to DefiLlama. That figure covers the mobile app's broader activity, not perps alone. DefiLlama +1
If perp adoption continues at this pace, it could become another meaningful revenue stream for Pump, particularly as the platform expands beyond its original memecoin trading audience. $XRP The chips in this wave have been completely collected by the main force.
Whales holding over ten million tokens on-chain have unknowingly locked up 68.5% of the global $XRP in their wallets, with concentration reaching a new high in more than two years.
Retail investors are still watching and waiting for a pullback, while big players have already eaten up the circulating supply. The selling pressure below has been fully absorbed, and with some buying support later on, it is highly likely to rebound directly.
#XRP
$XRP
👇A refund was issued twice, causing the entire cross-chain channel to be paused. Ethereum just experienced a chain reorganization, and the cross-chain protocol THORChain mistakenly issued a double refund to a user who deposited 10 ETH, which immediately triggered an emergency pause.
The status interface shows the scene: among the 13 listed chains, 12 have transactions paused, but outbound signatures on most chains remain active. This detail is crucial; the pause is a stop-loss measure, not a full shutdown. Users can withdraw, but no new transactions are accepted.
The problem lies in the chain reorganization causing the protocol to have conflicting judgments on the same deposit. The 10 ETH should only be refunded once, but it was refunded twice; the extra amount is real money, causing an immediate shortfall in the pool, so it had to be frozen first.
The most ironic side effect is that this pause incidentally blocked North Korean hackers from laundering stolen Binance funds. The same infrastructure serves both as a highway for attackers and a stop-loss switch for the attacked; it does not distinguish who is using it or why.
Two points of judgment: First, the $ETH reorganization itself is not abnormal; the risk lies in the cross-chain protocol's logic for handling reorganization states. This time it was breached by a single operation; next time it could be a batch. Second, $RUNE volatility will be even more severe, and the pause means zero fee income.
What is worth considering is that this vulnerability is not in signature verification but in the judgment line for abnormal refunds. True black swans often hide in "logically correct but boundary incorrect" places.$ZEC perpetual 50x long position, opened at 1229.52, now at 1278.77, floating profit +200.28%.
Just betting on a bottom reversal: 1229.52 tested three times without breaking, volume decreasing stepwise, classic double bottom pattern. Enter at the moment the bullish candle pulls up, never guessing the bottom prematurely. 50x leverage. This move has been very clean, almost no pullbacks, a big profit trade secured.
For now, hold steady and let the bullets fly a bit. Set 1245 as the defense line to protect the principal, wait for a clear signal around 1300 before deciding to add or reduce, no rush. $BTC $ETH #美联储官员释放加息信号，12月预期仍存分歧 $HYPE perpetual 50x short position, opened at 91.808, currently at 88.025, floating profit +206.02%.
Just betting on a top reversal: 91.808 tested three times without breaking, volume decreasing stepwise, classic double top pattern. Enter the market the moment the bearish candle crashes down, never guess the top prematurely. 50x leverage. This move was very clean, almost no rebound, big profit secured.
For now, hold steady and let the bullets fly a bit. Set 89.5 as the defense line to protect the principal, wait for a clear signal around 85 before deciding to add or reduce, no rush. $BTC $ETH #美联储官员释放加息信号，12月预期仍存分歧 Since the Binance hacker incident yesterday, the price of $BTC has experienced a rather sharp decline and is currently consolidating within a short-term range of 76,500-77,500.
Main script:
Considering the previous push that drove BTC from 75K to 87K, BTC buyers were also actively involved, pushing the price up to a new area (87K) with huge volume, overwhelming the sellers.
In the current area, buyers are relatively active. If the selling pressure is fully absorbed, buyers may take full control and push the price to a new level (predicted at 91K).
Conversely, if BTC buying pressure is not strong enough; it is entirely accumulated in the lower price range, or more precisely, trapped in the lower price area. The real buying pressure is here (expected around 74,500-75,000).
Personally, I would not rush to make a choice; after all, this is a good place for allocation.
Don't rush to take sides, observe carefully to optimize entry timing, and for spot positions, just buy cautiously.
What do you think? Will BTC consolidate upwards from here, or will it at least fall to the 74K area?$WLD perpetual 50x short position, opened at 0.4145, currently at 0.3973, floating profit +207.47%.
The idea is very simple: a top consolidation with volume but stagnant price, volatility compressed to the extreme, indicating that chips are ready to be distributed. A single high-volume bearish candle smashed the price down from 0.4145, a typical breakdown signal, shorting is favored over longing. 50x leverage. The trend keeps going down without giving any comfortable exit point, profits take off directly.
At this position, I plan to first reduce half of the position to lock in profits, and move the stop loss of the remaining half to 0.405 to let profits run. If 0.37 breaks down with volume, I will continue holding; if it can't fall further, I will close all positions. $BTC $ETH #美联储官员释放加息信号，12月预期仍存分歧 Family, the Middle East drama has updated again! 🎬 This time Qatar is stepping in as a mediator, negotiating between the US and Iran.
Logically, as long as they are willing to sit down and talk, that's a good sign, and crude oil prices should dive, right? But guess what? Oil prices remain firm and won’t drop! 💪
Why isn’t capital buying it? Because everyone’s mind is as clear as a mirror. Negotiations are negotiations, but the geopolitical powder keg hasn’t been completely removed. Ships near the Strait of Hormuz are still on edge; as long as the risk of conflict remains, the "insurance premium" (risk premium) in crude oil won’t be squeezed out. 🛢️
So what impact does this have on us crypto traders? It’s huge! 🤔 Let’s break down the transmission logic:
High oil prices oscillate ➡️ US inflation stubbornly won’t come down ➡️ Federal Reserve lacks confidence to cut rates ➡️ Global liquidity tightens. Without new funds entering, what will lift our market? 📉
Therefore, the current macro environment is a "vicious cycle." 🛡️
In terms of trading strategy, don’t jump at every rumor. When negotiation news breaks, don’t impulsively short crude oil or blindly bet on direction. For us crypto folks, macro uncertainty is too high; the top priority now is to preserve capital. Watch more, act less, hold your USDT tight, and wait for the external situation to become clear before striking hard.
What do you think, how long will this Middle East tug-of-war last? Will it significantly affect Bitcoin’s trend? Come to the comment section and discuss 👇🍵$CL $BZ
#卡塔尔斡旋美伊谈判，油价仍受冲突风险支撑 Are hackers just scapegoats? Even without that $6 billion theft, this whole trapped market is bound to collapse sooner or later!
Last night saw an epic crash in the crypto world. Besides the black swan event of Binance losing nearly $6 billion triggering panic, the chip distribution reveals a deeper crisis.
Currently, only 4.03% of BTC holders are in profit, meaning 96% of positions are underwater, with an average cost as high as 78,967. Massive red trapped positions pile up in the 78,000-81,000 range. This means huge resistance above; once the price rebounds, these positions will rush to sell, creating enormous selling pressure.
Simply put, this is a triple blow of a black swan crash, everyone trapped, and heavy selling pressure on rebounds. Until this heavy trapped position is digested, any rebound could be a last-ditch escape wave. Do not blindly bottom-fish.
$BTC $ETH $SOL
#Strategy Earnings Preview: BTC's book profits rebound sharply The original plan for this wave of Bitcoin was to build a position at 76000. From the daily chart, as long as it doesn't break below the previous low of 74900, the bullish outlook remains. You can keep building small positions these two days until the midterm elections. It's still too early to say it's a counterattack, but that doesn't mean you shouldn't move at all. You also need to set stop losses. Referencing this year's rapid 4-day surge, compared to the multi-month bullish trends in previous years, this year feels very volatile. Sometimes if you don't watch for a few days, it might have already surged without giving much chance to get in. Large funds are also buying spot now. If smaller altcoins gradually emerge later, and sector linkage appears with altcoins like Ethereum and Solana, that would indicate the timing has come. The last time Bitcoin surged to 84000 was different. With the same pump, altcoins like Ethereum and Cardano were sluggish, indicating it was a rebound rather than a pump. $BTC I went all in on NO with my XP.
My decision isn’t based on weak earnings. SNDK’s financial results are actually impressive, but:
- The AI storage rally had already priced in much of the good news.
- Storage is a cyclical industry, and future supply and price guidance matter more than strong current numbers.
- The broader hardware sector is facing pullback pressure, making further upside harder.
#FedHikeOutlookDivided #BEAT Unlocking and landing, will it delay the sell-off?
⚠️BEAT unlocks 17.64 million tokens on November 1, accounting for 5%–6.3% of the circulating supply. Historically, the average pullback 14 days after unlocking is 31.8%. The market has already risen 34% in advance, with the hourly chart repeatedly surging and falling back, showing signs of news being realized.
Do not chase longs near 0.109, try light short positions with well-set stop losses. After unlocking, focus on 0.079; if it holds, there is still room for consolidation.
Check your stop losses by opening the position list; if there is a volume breakout above resistance, this observation logic becomes invalid.
$BTC $ETH $SOL The rebound is strong, but the funds are cold?🤔
The market briefly recovered in the afternoon, but the rise in U.S. Treasury yields and the increased risk aversion in the Middle East both weakened in the same direction, so it cannot be simply interpreted as interest rates being bearish for coin prices. Poor U.S. stock earnings reports also suppressed risk appetite, with dense short positions at 81561 on BTC and a lack of incremental relay, making it naturally difficult for the rebound to hold.📉
ETF flows are more honest: $BTC only saw a slight inflow of 135 million, while $ETH and $SOL were continuously withdrawn, as institutions are retreating from high volatility to stable assets.💸
News-driven liquidations may amplify short-term declines but cannot change the overall interest rate environment. Only when core PCE falls and rate hike expectations cool down can funds possibly flow back into small-cap coins.🧊
In terms of operations, open your position list, keep any single coin under 30% of total funds, protect your principal first, then consider offense.🛡️#美联储官员释放加息信号，12月预期仍存分歧 #OKX、ICE与Trade.xyz联手，推动永续合约进入美国合规市场 22% is just the beginning? Storage price hikes are pushing the PC supply chain into a “cost dead end”💥
Intel plunged 22% after hours, like a sucker punch waking the market😵. Chen Liwu bluntly said: PC demand is weak, but memory prices are soaring, and this gap is unlikely to close until the first half of 2027. The problem is straightforward—AI computing power is toasting with cheers🥂, while traditional PC side is busy patching and repairing.
The “storage super cycle” was loudly proclaimed a couple of years ago, but now the side effects are showing: SK Hynix, Samsung, and Micron are making huge profits💰, while downstream PC manufacturers and chipmakers are suffocated by high storage costs. End products aren’t selling, costs can’t be lowered, and production is becoming increasingly awkward😣.
So, don’t get itchy to catch the falling knife just because of a big drop🔪. A rebound in a declining sector doesn’t mean a reversal; the key is where the money flows in the industry chain. Currently, AI computing power and upstream storage are still attracting capital, and the tough days for the traditional PC chain may not be over. Keep your position steady, don’t get carried away🧊.
$INTC
#英特尔Q4指引不及预期，股价暴跌近30% The kitchen at 4 a.m., the range hood suddenly stopped, and all three burners scorched the pots at the same time—this is the smell wafting from last night's cross-asset market.
The Nasdaq fell 2.86%, the Philadelphia Semiconductor Index plunged 7.2%—this isn’t a correction, it’s the main course wiped out: the bottom of the pot burned through, yet they still tried to plate it. Spot gold slid 3.5% back to around 3882, silver dropped over 6% below 50—I’ve been brewing this old broth for ten years, but a ladle of it spilled on the ice; even the signature creative dish Bitcoin fell below 77,000, canceled on the spot by customers. The 10-year yield retreated to 4.93%, bond prices rose—basically turning off the heat and removing the pot from the burner—not a new recipe, just fear that an open flame might ignite the whole stove.
The so-called “margin pressure, cross-asset deleveraging” in kitchen slang means: someone was greedy and dumped a whole basket of super spicy chili peppers into the pot, the smoke drove everyone out of the store, and whoever was holding a dish had to drop it first. You think each dish is cooked separately? No, this stove is shared; once the heat is on, all dishes get tainted simultaneously. Tokenized stock assets are the same, cooked in the same pot and fire as the market, just plated differently with different labels; once the sauce reduces, no one escapes the burnt taste.
I’ve only ever talked about one thing: the ratio. The main dish takes up 70% of the plate, half a spoon of seasoning to enhance aroma, a drop of chili to awaken; chili is never an ingredient, it’s courage. But some always mistake courage for food, leverage up to ten times, which is like heating the oil until it smokes blue but still not hot enough—they’re not stir-frying, they’re burning down the kitchen. When the market is good, this combo is called “exciting flavor”; when it turns, it’s “spicy enough to burn your guts.”
The question now is: will the selling pressure contaminate the flavor? Can gold and Bitcoin still be served again as that “safety cushion”? My judgment is: gold is the old broth base, it can be reheated even when cold; Bitcoin is a freshly made signature dish, once the heat changes, customers look at its color before picking up their chopsticks. The most realistic kitchen status now is—the range hood is still under repair, the stove temperature hasn’t cooled, everyone is holding their stomachs, waiting for a clear broth.
Reducing the sauce until it’s scorched and still adding sugar—that’s not rescue, that’s self-deceptive caramelization. #stocksgoldsilverselloffGold and silver took a "plunge" overnight 💥 $XAU dropped nearly 4%, $XAG fell over 6%, catching the bulls off guard. Is it time to bottom-fish now? Not so fast.
The core reason for this sell-off isn't the failure of the safe-haven logic, but liquidity tightening: US employment is stable, the economy is strong, inflation remains high, tensions in the Middle East haven't eased, global stock markets have plunged again, and cash demand has risen. Liquid assets like gold and silver are sold first. The Nasdaq dropped nearly 3%, Intel plunged 30% after earnings, and weekly charts suggest risks may not be fully released; if Democrats sweep both houses in the midterm elections, tech stocks will also face pressure.
So, heavy bottom-fishing now? I don't recommend it. Until the three variables—the Middle East, midterm elections, and Federal Reserve policy—become clear, it's safer to wait and see. Even if there's a rebound, treat it as a recovery, not a reversal. Historically, gold and silver are often sold early in crises to raise liquidity, and only strengthen once liquidity improves.
In short: what matters now isn't speed, but patience ⏳. The long-term logic for gold and silver isn't dead, but in the short term, watch liquidity and don't rely on faith to hold firm 🧊. #美联储官员释放加息信号，12月预期仍存分歧 #OKX、ICE与Trade.xyz联手，推动永续合约进入美国合规市场 Three pillars, two independent load-bearing systems, and a construction permit not yet stamped—this is the real structural blueprint for pushing perpetual contracts into the U.S. market this time.
First, look at the column grid layout. Splitting trading and clearing into two independent systems is not just putting up a partition during renovation; it’s a complete rearrangement of the load-bearing system. Independent clearing is like giving the entire building a separate foundation settlement monitoring system; independent trading is like adding a layer of steel profile outside the load-bearing columns. Both being independent is the only way to meet seismic standards. Too many projects in this industry have failed because "trading and clearing are handled together"—all the load presses on a single column, and at the first wind, the truth shows; no matter how beautiful the blueprint is, it’s useless.
Next, consider the source of components. The core engine uses external technology supply, which is equivalent to using prefabricated components for the main structure: shorter construction time, lower cost, higher assembly precision, but the structural control is not entirely in the hands of the pouring party. Prefabricated parts can be mass-produced, but the cost is that interface tolerances must be aligned perfectly the first time; if not, the cost of reinforcement later is far higher than casting in place initially.
Exclusive operating rights are assigned to a specialized entity, which is like outsourcing the foundation excavation rights exclusively; meanwhile, the retail customer access is handled by a joint venture—note this link, it’s the connecting utility corridor between the main building and municipal pipelines, buried underground, easiest to fudge during inspection, hardest to repair when problems occur. The vast majority of accidents won’t collapse the lobby but seep through the utility corridors.
The price increase is just the rebound value after a certain floor slab is stripped early. A high rebound only proves that the concrete curing at that spot was decent; it cannot replace the static load test of the entire building. Between test block strength and structural safety lies a whole set of complete loading.
As for making U.S. stock targets into on-chain mappings, in my view, that’s the curtain wall. The facade determines the appearance, but the curtain wall’s survival depends on wind load and inter-story drift angle. Any loosening of anchor points in the underlying assets, custody, or clearing paths will cause cracks to start from the most inconspicuous sealant joint.
The watershed is not the price increase but that stamped approval: without approval, everything is still a blueprint; once approval lands, the geotechnical report truly becomes the pile foundation.
There is no "close enough" in structural calculations, only pass or fail. #okxicetradexyzperps$DOOD The market makers are too lazy to even pretend anymore.
In the past 30 days, the net inflow of spot directly accounts for 64% of the market cap, and the big players have been moving their holdings into wallets.
As a result, the contract funding rate has been negative every day.
These shorts are paying interest to hold on stubbornly, without even checking how much circulating supply is left outside.
With the spot locked up like this, the main force can easily step on the gas, and the shorts will have to line up to be squeezed.
#DOOD
$DOOD
👇#美联储官员释放加息信号，12月预期仍存分歧
The baseline scenario in the current market is a rate hike in December, but the true meaning of the "divergence" has been misunderstood—the internal disagreement within the committee about "whether to act" is actually very small; the real disagreement lies in how far to go after December. Summarizing the current situation simply as "officials signaling, with December still having disagreements" can easily mislead people into thinking there is still uncertainty about whether to hike rates in December. The actual situation is: at the October meeting, the rate was maintained with a 10 to 2 vote, and the two dissenting officials (Governor Cook and Cleveland Fed President Mester) advocated for an immediate rate hike rather than holding steady. In other words, the hawkish dissent was about "hiking too slowly," not "not hiking." Market pricing also confirms this: after the meeting, the CME FedWatch showed the probability of a December rate hike fluctuating between 70% and 85%. The real disagreement is on the time dimension, not the direction; the probability pricing for a December hike is already quite sufficient, and the real expectation gap lies in the path for 2027. Bank of America admitted in its report that it previously mispredicted the October hike and has now adjusted the pace to December plus March; it also pointed out a reverse scenario where if next year's base effects cause core inflation to drop sharply, the Fed might stop after the December hike. RSM's judgment is even more hawkish, believing the Fed will hike at every interim meeting until there are clear signs of inflation easing. Implications for crypto assets: the "long end" of the interest rate path is more important than the "near end" #苹果新CEO迎来iPhone18首份成绩单
Market Expectations and Focus Points
• Consensus expectation: revenue around $113.3 billion (year-over-year approx. +10.6%), EPS about $1.98–1.99. The company previously guided revenue growth of 9%–11%, with double-digit growth in iPhone sales.
• Institutions like Goldman Sachs are relatively optimistic, expecting a slight beat, maintaining a buy rating and raising the target price (mentioned up to $390), believing that iPhone's ASP (average selling price) increase offsets shipment declines, supported by the services business, and new forms like the iPhone Duo (foldable screen) driving next fiscal year growth. 
Key points for the conference call: holiday season (Christmas season) guidance, impact of memory costs and supply constraints on gross margin, Ternus's comments on product cycle and AI/hardware strategy.The strongest print in memory hardware is not lifting $SNDK, and that disconnect is the story. SanDisk’s fiscal first-quarter revenue rose 378% year over year, with guidance for the second quarter described as strong. Yet the market’s own probability gauge on further upside sits near 65 points on the No side — a quiet verdict that good numbers have already been paid for. That verdict rests on three pillars. First, AI storage ran hard into the report, so the marginal buyer was already positioned;After the Binance theft incident, the frenzy cooled down, and investors began to think logically and calmly.
In this Binance event, the platform's emergency response, asset freezing, compensation plan, and information disclosure were relatively timely, without shirking responsibility or passing the blame. This relatively prudent handling brought about a very special market effect:
It did not cause a one-time panic stampede collapse due to the platform's failure or run-away; but precisely because this incident truly happened and was on a large scale, it exposed the structural hidden risks that the industry had long selectively ignored, causing many deeply Bitcoin-believing investors to shed some of their fanatic obsession.
1. Why proper handling makes people calmer rather than simply angry and leaving
If the platform had directly failed, assets completely disappeared, and no compensation plan was offered, market sentiment would be pure rage and panic selling, an emotion-driven escape.
This time, Binance's quick suspension of withdrawals, tracking of funds, activation of SAFU coverage, and continuous public updates on investigation progress gave the market a window to think:
People realize that this timely coverage was due to luck plus sufficient platform reserves; next time, the same conditions may not exist.
Compensation is a commercial commitment of the platform, not a guarantee inherent in blockchain mathematics. The platform can cover losses once, but custody risks themselves have not been eliminated.
Many who previously only focused on "Bitcoin scarcity, digital gold, long-term appreciation" are forced to include another set of risks in their evaluation framework: centralized custody vulnerabilities and the ongoing presence of advanced APT hackers. The frenzy was built on the imagination that "risks are far from oneself," but when a major incident truly occurs, that imagination is shattered.
2. Several obvious changes in Bitcoin holders' mentality
1. No longer unconditionally treating exchanges as safes
Many BTC believers used to buy and hold long-term on top exchanges, equating top platforms with safety. After this incident, many investors began to distinguish between "trading venues" and "asset storage tools," re-examining the necessity of cold wallets and self-custody.
2. Layered consensus, reduced obsessive faith
Some pure believers still insist on the long-term BTC narrative but no longer blindly ignore risks;
Many have abandoned the extreme obsession that "Bitcoin will only keep hitting new highs with no fatal hidden risks," starting to accept that BTC has a value storage narrative advantage but also bears two long-term risks — current custody hacker risks and future quantum attacks on elliptic curve cryptography.
3. Valuation logic shifts from a single narrative to multidimensional trade-offs
Previously, many people's logic was very simple: total supply 21 million, scarcity must mean continuous appreciation.
Now more people add safety weighting: can custody risks be tolerated, is there an upgrade path for underlying cryptography, regulatory black swans, and the possibility of new technologies replacing the track. Decision-making shifts from emotional faith to weighing pros and cons.
3. But we must objectively see: obsession will not completely disappear
Bitcoin has developed for over a decade, accumulating a huge existing consensus, ETF funds, and a global trader community.
This incident is a cooling agent, not a consensus crusher:
- More people think rationally, and the proportion of blindly chasing rallies and reckless heavy positions declines;
- Still, many investors define this theft as a "centralized platform problem unrelated to the BTC mainnet," and remain optimistic about Bitcoin's scarcity narrative itself;
- Market divergence will continue to widen, no longer a one-sided single belief.
4. Linkage with the main track
After investors calm down, the criteria for fund selection quietly change: no longer only looking at existing market cap and historical legends, but also evaluating security architecture, cryptographic routes, and custody solutions. This is why anti-quantum underlying narratives (such as STRK's post-quantum route) gain more funding attention as a foundational emotional soil.
Summary
Binance's timely and prudent response this time avoided a market-destructive stampede but did not erase the risk itself. It was like a bucket of cold water, extinguishing some irrational fanatic obsession and pushing many BTC investors from pure faith to rational scrutiny with risk awareness. The faith remains, but the filter has thinned. Wall Street brings perpetual contracts "into the living room" 🌐
On October 29, ICE partnered with Trade.xyz, and OKX entered the scene through a joint venture, planning to bring perpetual contracts into the compliant U.S. market. 🧭
The highlight is not just another exchange collaboration, but the product logic migration: ICE provides trading clearing and regulatory credibility, Trade.xyz supplies the Hyperliquid technical foundation, and OKX offers retail access. The three parties are competing with a "compliant shell + on-chain engine + traffic entry point." ⚙️
Focusing only on $OKB and $HYPE risks misinterpreting industry signals as token signals. Approval is not finalized, and business operation does not necessarily mean price will rise. 📉
What’s more worth considering is that if perpetual contracts cover U.S. stocks, indices, commodities, and forex with 7×24 availability, traditional trading hours, margin rules, and risk control systems will all be reconsidered. 🕰️
The future may not be dominated by one side: Wall Street holds regulations and institutional funds, while native platforms hold product speed and global retail investors. After successful operation, the boundary may become a hybrid arena. 🏟️ Who wins depends on whether liquidity, compliance, and user experience can coexist. #美联储官员释放加息信号，12月预期仍存分歧 #OKX、ICE与Trade.xyz联手，推动永续合约进入美国合规市场 #加密行业协同守护资产安全 $ETH Around $2345 above, there is about $891 million worth of short liquidation pressure📌
This is not the money shorts have already lost, but the position size that may be forcibly closed when the price reaches there.
According to statistics on mainstream platforms' short liquidation lines: the higher the price goes, the more shorts get triggered, and the system buying to close positions creates additional buying pressure, which in turn pushes the price further 🚀
Around $2124 below, there is about $440 million worth of long liquidation pressure. The difference between up and down is nearly double, indicating shorts are more crowded and the upward resistance is relatively smaller.
But don't misunderstand: if it really surges up, the shorts get closed first, which doesn't mean the market itself is very strong, it only means this round of leverage was bet in the wrong direction ⚠️
Key levels: $2345 above, $2124 below. Look at liquidations, not just sentiment👀 #美联储官员释放加息信号，12月预期仍存分歧 #OKX、ICE与Trade.xyz联手，推动永续合约进入美国合规市场 I went all in with all my XP
I bet No, and the underlying logic behind this judgment is not that the financial report is bad; on the contrary, the financial data is very strong.
First, the AI storage theme had already experienced a big rally before the financial report, so the positive news was largely priced in by the market, turning the good news into bad news upon realization.
Second, although the current revenue and orders are outstanding, storage is a cyclical sector. The market will prioritize pricing future supply and price guidance. Once the guidance does not exceed explosive expectations, it is difficult to support further gains;
Third, today the computing hardware chain (optical communication, storage) has collectively experienced a pullback sentiment, with the sector's beta being relatively weak, making it harder for SNDK to independently continue rising.
The current market pricing of No at 65 points itself indicates that most funds believe the probability of further gains is low. My bet is on the pullback after the positive news is realized.
$ZEC $SNDK $BTC
#闪迪Q1营收同比增378%，Q2营收指引强劲 #加密行业协同守护资产安全
Collaborative Protection of Asset Security: The Crypto Industry is Taking a "Trust Infrastructure" Course
The true value of industry collaboration is not just freezing hundreds of millions of dollars during crises, but in transforming "trust" from marketing rhetoric of individual platforms into a set of verifiable, callable, and accountable public goods. The coordinated response by institutions like Circle, Tether, OKX, and Coinbase during the Binance security incident at the end of October is commendable, but if collaboration stops at "post-incident freezing," the crypto industry is merely patching the decentralized world with centralized methods. Genuine asset security protection requires advancing collaboration from emergency response to pre-established standards and verifiable on-chain execution.
The "achievement" of freezing conceals structural flaws
Let's look at the data. CertiK reports that the cumulative losses in the crypto industry will reach approximately $9.2 billion by 2026, setting a record; in October alone, there were 89 incidents with gross losses of about $6.5 billion. In the Binance incident, about $3 billion was frozen or returned, but adjusted losses still reached $3.47 billion. Tether and Circle froze related stablecoins ranging from hundreds of millions to over a billion dollars, and OKX founder Star publicly acknowledged the speed of this action and called for compressing the response window from "several hours to a few minutes." Unbelievable, an old bug hidden for 7 years just wiped out an entire public blockchain 😂
On October 27, someone found a vulnerability on Iron Fish, a privacy chain, where the same funds could be spent multiple times. They moved all the extra coins created out of thin air across the bridge to Base. On the bridge side, about 1.98 billion wIRON were minted in 14 transactions in one day. The total IRON supply is only about 76.9 million, so this was like printing 38.7 times more.
After minting, they dumped it. Two new wallets poured all the coins into pools on Base and sold out in over 14 hours, exchanging for about $197,400. wIRON could still sell for around 7 cents in the morning, but by evening it was almost worthless, and now the liquidity in the pool is down to about $300.
The worst hit were the later buyers. 212 addresses bought cheap wIRON hoping to swap back to real IRON via the cross-chain bridge, burning about 192 million tokens in total. Whether they can redeem them or not is impossible to tell on-chain.
In the early hours of October 31 Beijing time, the team announced they would stop all support for the entire network. This problematic code had been audited both internally and externally, yet no one caught it.
The phrase "audited" really deserves a question mark from now on. Coins accumulated over years might be destroyed by a single line of code that no one noticed was faulty.
For beginners, the advice is to watch more and trade less; when buying coins, only buy $BTC 🔷 Intel −30%, gold −3.6%, $BTC at $77K
Markets are falling together. Nasdaq −2.5%, gold $3,891, a one-year low. BTC below $80,000 and at risk of closing October down −7.7%, the worst since 2014.
Background: hack of the largest exchange for $6.3 billion.
Red flag: doubts about AI monetization.
QCP Capital calls this a "period of intensified revaluation." Personally, I’m watching tech stocks: as long as they fall, crypto struggles.
What’s more dangerous: stocks or the hack? 👇
DYOR.