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In the futures market, when I see a concentrated withdrawal of warehouse receipts, I usually first distinguish whether it is just inventory relocation or a real change in supply and demand. This message also made me think that while on-chain transfers are visible, the trading intentions behind them are not necessarily clear.
According to Lookonchain monitoring, a wallet created 3 months ago has withdrawn about 69.125 million PONS and 5,887 ETH from OKX in the past 12 hours, with a total value of approximately 27.42 million USD. I prefer to treat this as a liquidity observation signal rather than directly considering it as a bullish sign.
There are two reasons: withdrawing tokens itself does not equal new buy orders, so it cannot be taken as confirmation of increased buying pressure; if the tradable supply decreases and the order book thins after the transfer, ordinary users may face greater slippage, which is my speculation. The crypto market has this on-chain window that traditional futures lack, but seeing the movement does not mean understanding the demand. Are there friends who have also transitioned from traditional markets? For this kind of news, do you first check the exchange balance or look at the order book depth?$SNDK Let's review yesterday's short positions, did you follow along?
First, the midterm election results came out, and the trend shifted immediately.
Subsidy approvals slowed down, interest rate cut expectations were postponed, and semiconductor policies toward China might become stricter. The previously supporting loose expectations that justified SanDisk's high valuation disappeared, so funds started to flow out, and high-priced stocks were hit first. 1150 is exactly at a resistance level, making it a perfect timing to short.
Second, price hikes peaked + guidance fell short of expectations, a double negative pressure.
Kioxia clearly stated that NAND price increases are cooling down, and downstream cloud providers are no longer stocking up; SanDisk's earnings report looks good, but next quarter's revenue guidance is far below institutional expectations. All the good news at high prices has been fully priced in, and any slight miss will cause a big drop. At this price, all positive expectations are already factored in, so it can't hold.
Third, the price movement is off.
Previously, it rose dozens of times, and high-level chips were already loose. After the earnings report, it dropped for two consecutive days without stabilizing. Last night at the open, it directly hit 1155, just touching the short-term resistance zone. If it can't break through, it will fall.
Midterm view: elections suppress valuation, industry pressures profits, and the price is at a resistance level. With all three combined, shorting at 1150 is following the major trend. In the short term, watch for support at 1000; if broken, look further down to 850. Set defense at 1180.Binance Research says BTC on average rises 54% one year after midterm elections. IOSG's sample is similar, 53.8%.
Sounds great, right? Once the election ends, just hold your eyes closed for a year, and your assets increase by half.
But this 54% this year might not have a dime to do with you.
Because the premise for the historical average to hold is that the starting point is "normal." And the three starting points in 2026—U.S. stocks, BTC, and liquidity—none are near the median.
The average is a summary of the past, not a guaranteed minimum return for you this year.
The position of U.S. stocks is off: the drop wasn't deep enough.
Historically, the median maximum drawdown of U.S. stocks in the year before midterms is 16%.
This year? From June until now, the S&P 500's maximum drop is only 4.5%, the second smallest drawdown for the same period since 1962.
Morgan Stanley's mentioned 9% peak-to-trough is considered a "light injury" historically.
The key is here: the post-midterm rise is money "recovering." The deeper the drop, the bigger the recovery space.
This year, after only a 4.5% drop, waiting for a "big post-election rebound" means there's barely any room to recover.
BTIG puts it more bluntly: "The stock market often performs well in November of midterm election years because it has already dropped thoroughly before the election. This year is exactly the opposite."
What should have dropped hasn't, what should have hurt hasn't. How much of that 54% average is "space created by the drop"? This year, there is none.
BTC's position is also off: this is not a bear-to-bull transition, but a crowded betting table of bulls and bears.
In the three cycles IOSG analyzed, BTC was mostly in early recovery after a deep bear market at election time—fully dropped, shorts cleared, chips clean.
This time?
BTC peaked at 126,000 in October 2025, retraced about 50%, now bottoming around 76,000–78,000. Today it barely returned near $77,800, with volatility significantly reduced.
But what's pressing underneath? CME shorts have piled up to $2.2 billion, about 29,220 BTC.
This is not a clean starting point. This is a betting table where both bulls and bears have heavily staked.
Concentrated shorts mean two possibilities: a short squeeze upward, or shorts are right and it goes down. The average +54% assumes a market where "shorts have already surrendered." This year shorts not only haven't surrendered, they're adding positions.
Liquidity is even more off: inflows during report writing, outflows during election week.
When IOSG wrote the report, ETFs were still part of the net inflow narrative.
By election week, the tone changed abruptly.
On November 2, U.S. spot BTC ETFs saw net outflows of about $400 million; BlackRock's IBIT had a single-day outflow of $405 million, the largest since June 26. Fidelity's FBTC and ARKB also withdrew; no mainstream ETF recorded net inflows.
Selling pressure concentrated on the most liquid leading products. This is institutions adjusting total positions, not retail panic.
More painfully, the annual ledger: since 2026 began, U.S. spot BTC ETF net inflows have officially turned negative. Money that was flowing in at the end of October was fully withdrawn in the first two days of November.
The +54% in historical averages assumes liquidity is a tailwind. This year's liquidity, at least at this starting point, is flowing out.
U.S. stocks: didn't drop enough → recovery space compressed
BTC: shorts that should have cleared haven't → starting point not clean
Liquidity: inflows turned outflows → no driving force
Three starting points, none cooperating with that +54%.
IOSG buried the biggest warning themselves: "Historical averages are for understanding direction, not for setting return targets."
Direction can be somewhat optimistic. But don't fool yourself with a 54% target.
History doesn't give promises, it gives a topographic map.
The map tells you: the probability of an upward direction one year after midterms is high. BTC's three samples all were higher after one year.
But the map doesn't tell you how bumpy the road is. BTC's median return three months after the election is -31%, only after one year is +45%. Not everyone can endure that middle period.
This year's terrain is more special: no cheap chips, no clean shorts, no tailwind liquidity.
What there is, is just a crowded betting table.
The average tells you "it will rise," but not "from where it will rise, or whether it will throw you off before rising."
54% is someone else's average; your account only has 0% or 100%.
$BTC $ETH $ZEC USDC earned $1.4 billion in half a year, but the final net profit was only 7%! Is Circle's stablecoin business really as profitable as imagined?
On November 4th, USDC issuer Circle will release its Q3 earnings report.
The market expects revenue of about $800 million, with earnings per share around $0.40. But more worth watching than whether the earnings beat expectations is how much money the stablecoin business actually retains.
① $1.4 billion revenue, where did the money go?
$CRCL disclosed that revenue for the first half of 2026 was about $1.4 billion.
Of that, $819 million went to channel commissions and transaction-related costs, accounting for about 59%.
Another approximately $473 million was invested in operations, compliance, and infrastructure.
In the end, for every $1 earned, net profit only retained about 7 cents.
② Federal Reserve rate cuts may actually impact profits
Circle mainly relies on interest income generated from USDC reserve assets.
In Q2, USDC circulation reached $73.3 billion, a 19% year-over-year increase, but total revenue and reserve income for the quarter only grew 7% year-over-year.
③ What to focus on in this earnings report?
Not just whether revenue exceeded expectations, but three things:
Whether USDC circulation continues to expand.
Whether reserve income can offset the impact of declining interest rates.
Whether the proportion of channel costs has improved.
#Circle财报在即，稳定币增长能否兑现收益？ $BTC is hovering above 77,000, up only 0.28%, almost unchanged, with the fear index at 34 still stuck in the fear zone.
Ethereum climbed back to 2,276, but the ETF lost over 1 billion USD in the past two days, institutions haven't returned at all.
Tonight's ADP and ISM Services PMI are the real tests; once employment heats up, rate cut expectations will be pushed back again.
On the A-shares side, the ChiNext Index pulled up, Baijiu Huangtai Liquor had a 4-day winning streak, and the chip sector jumped following Yunnan Germanium's big order of 900,000 indium phosphide wafers.
But insurance and banks are dragging behind, volume is shrinking while prices rise, and the gains are all stories, not real money.
The US stock market is the most divided: the Nasdaq rose 0.83%, Nvidia and Microsoft are recovering, but Apple’s gross margin dropped nearly 2% again due to memory price hikes.
The Hang Seng Index in Hong Kong opened down 74 points, Xiaomi fell nearly 2%, tech stocks are weak, and WuXi AppTec briefly resisted the trend but couldn't hold the market.
The most chaotic is commodities: sometimes US-Iran say no plans to fight, then rumors say plans are ready; oil prices first plunged then pulled back, gold is hovering around 3,923,
and copper was directly smashed to a seven-week low.
Money is just this limited; money is taken from one place and leaks from another, nowhere is stable.On voting day, BTC couldn't even hold above 78,000.
This morning in Asia, Bitcoin hovered around $77,000, up slightly by 0.28% in 24 hours. The CMC Fear and Greed Index dropped to 33, officially entering the "Fear" zone. In the past 24 hours, the total liquidation across the network was $282 million, with longs accounting for $211 million.
Everyone is waiting for one answer: will the Democrats win or the Republicans, and which is better for crypto?
But the real answer isn't in the ballot box; it's in the calendar.
The CLARITY Act procedural vote in the Senate on September 15 ended 49:50, not even reaching the 60-vote threshold.
The controversy isn't about "whether to regulate." The dispute lies in the ethics clauses and stablecoin yield structures—both parties are deadlocked on the details.
What does this mean? Changing the majority party won't solve it with a single click. Changing the majority just moves the same argument to another meeting room to replay.
So what does the election actually change?
TD Cowen's judgment is straightforward: if the Democrats take both chambers, Warren might become chair of the Senate Banking Committee, described as "the worst election outcome for cryptocurrency."
But note the next sentence: Warren cannot stop regulators from adopting policies favorable to crypto.
To translate: the election changes the legislative pace, not the regulatory endpoint. And a slowed legislative pace means the "certainty premium" for the CLARITY Act is pushed back by at least one congressional cycle.
The election is likely not a catalyst for crypto legislation. It is a delay mechanism.
BTC spot ETFs have seen a cumulative outflow of $859 million over nearly six trading days, with BlackRock's IBIT seeing a single-day outflow of $233.7 million. Since 2026 began, the net inflow for U.S. spot Bitcoin ETFs has officially turned negative.
On-chain whales are buying, ETFs are selling. At the institutional level above $80,000, there is no willingness to absorb.
Why?
The probability of a rate hike in December is 79%, according to CME data. Legislative windows pushed back + unresolved rate hike pressure = institutions prefer holding cash and waiting rather than chasing an asset with "unclear rules."
This has nothing to do with who wins the election.
Many treat the midterm elections as a "policy catalyst" for BTC in trading.
But the election changes the political arithmetic when Congress restarts CLARITY in 2027.
It does not change the capital flow in Q4 2026.
And the latter is the direct source of your account's profit and loss.
So what should you watch?
Not CNN's seat count.
Watch whether ETF funds can stop bleeding after the November 6 nonfarm payrolls. Before that, BTC will likely hover between 76K-78K, with 76,000 as core support; breaking below targets 74,000-74,900.
The rebound is structural, not a trend. The election cannot change this structure.
Don't treat the ballot as a candlestick chart.
The election provides a four-year narrative; ETFs provide daily buying and selling.
You trade the latter, not the former.
$BTC $ETH $ZEC #美国中期选举进入计票阶段，国会控制权将如何变化？ There was a number I read three times: The South Korean stock market triggered 6,646 volatility halts in October, 1.8 times that of August.
Volatility halts sound serious, but actually, the exchange is just afraid that machine quotes will run wild, so it forcibly pauses trading for a few minutes. 6,646 times in a month means the market basically never had continuous quotes.
KOSPI fell 16.19% for the whole month, for two reasons: no one believes the AI profit story anymore, and the US company CoreWeave has credit issues again.
I used to think a 16% drop was a big deal. Now I feel it's actually more straightforward to drop all at once; what's painful is being forcibly halted several times every day at market open. $BTC $ETH Asian buying is probably drained the same way.This is quite interesting, but at first glance, what I want to look at is not how strong the direction is, but how much room for error the position size allows for judgment. After studying high-volatility assets for a long time, I first remove the "large order filter" and then see how it withstands reverse volatility. 👀
This time, the wallet Core Trader 97 (0x940acf…7e639) opened a short position on $HYPE with 10x leverage, with a notional value of about $554,500, referencing a price of $83.1. This is an opening signal; the result is not out yet, so it cannot be prematurely considered a successful bearish case.
My judgment is: the key to this trade is not the large amount, but whether the leverage and volatility match. Based on the notional value, the initial margin is roughly $55,500; ignoring fees and margin adjustments, if the price rises 1% against the position, the floating loss is about 10% of the initial margin, so the tolerance is not wide.
High volatility offers shorts the opportunity to realize gains faster; the risk is that even if the direction is correct later, the interim pullback may hurt the position first. This is my scenario analysis; based on this monitoring alone, I cannot see his stop loss and margin arrangements.
I will continue to observe whether this address adds or reduces positions and how it handles reverse volatility, rather than taking the short amount as evidence of direction; first, see how the risk is managed, then see if the judgment can be realized. 46 hours, $11 billion withdrawn. Binance was not brought down by hackers, but by a run from its own users.
Hackers stole $6.3 billion, and Binance fully compensated with the SAFU fund. But users lost trust.
Within 46 hours after the withdrawal channels reopened, users withdrew $10.97 billion in cryptocurrency and cash from Binance. Withdrawals exceeded deposits by $5.28 billion. During the most panic-stricken hour, outflows exceeded inflows by $936 million.
CZ spoke out, and current CEO Changpeng Zhao also addressed the situation, stating strong liquidity and total assets of $171 billion. But data doesn't lie: once trust is broken, no amount of compensation can fix it.
The US FBI blamed the North Korean hacker group TraderTraitor. But retail investors don't care who did it; they only care if their coins are still there.
#美国中期选举进入计票阶段，国会控制权将如何变化？ Looking at the South Korean stock market, many people only focus on the KOSPI dropping 16.19%. But the truly striking number is another one: the volatility interruption mechanism VI was triggered 6,646 times in October.
VI is a safety valve installed by the exchange for programmatic trading. When index futures deviate to a threshold, the machine forcibly pauses for a few minutes to realign quotes. In August, it was triggered 3,695 times, in September 3,749 times, and in October it jumped to 6,646 times. By the end of October, the cumulative total for the year reached 53,400 times, surpassing the entire 2020 total of 35,500 times.
The safety valve being triggered so many times indicates not a single day of crash, but that the KOSPI was violently swinging every day in October. The average daily volatility was 3.58%, with almost no calm trading days. This situation is a disaster for market makers: quotes are withdrawn faster than anyone else, the order book is thin, and a single sell order can break through several levels.
There are two main triggers: AI profit concerns and the credit crisis of the US company CoreWeave. One hits valuations, the other hits liquidity. The former makes capital unwilling to pay for high growth, the latter makes leveraged funds self-check counterparties.
What about crypto? South Korea is one of the global markets with the heaviest retail leverage and is also an important source of spot and futures for $BTC and $ETH. With margin being eaten up by the stock market, naturally less money is allocated to high-beta assets like $SOL.
One point worth considering: VI trigger counts nearly doubled, while KOSPI only dropped 16%. Volatility expanded more dramatically than the price decline.11-3
Macro: Slight geopolitical positive (oil price drop) + US stock decline + inflation rate drop (2.29%)
Data: Coinbase premium negative + ETF outflow for 3 days + strong on-chain options long positions + stablecoin supply remains low
BTC short-term support: 76600 / 74800; resistance: 78600 / 79500
ETH short-term support: 2240 / 2170; resistance: 2300 / 2370
1. The main reason for the morning decline today is a small amount of treasury bond safe-haven behavior (due to election issues) + uncertainty in AI policy
2. Oil price is slightly positive but has been suppressed; currently, the market is not a typical risk-off scenario (in which the dollar usually strengthens). It now looks more like policy/growth expectation changes brought by the election results favoring the Democratic Party, and some funds flowing from risk assets to bonds, rather than pure global risk aversion.
Let's wait for the election results and the big and small non-farm payroll data on Wednesday/Friday, folks As of November 2, the number of U.S. companies opposing the OKXICE stock tokenization plan has risen to 56, with 49 out of the initial 62 target companies (about 79%) having raised objections; among the "Big Seven," Tesla, Amazon, Microsoft, Alphabet, and Nvidia have explicitly opposed it.
The essence is not "anti-tokenization," but a "dispute over consent rights."
Under the SEC's innovation exemption framework, there is a 30-day default consent mechanism: if the issuer does not actively oppose, it is deemed consent.
The 56 companies are contesting who has the right to decide in what form and where the company's stock is traded.
The objections are only against the OKXICE venue, not against tokenization itself.
The reasons for opposition focus on three points: the uncertain impact of tokenization on stock price valuation, liquidity, and volatility; investors might mistakenly believe the company endorses it; OKXICE is not registered with the SEC, creating regulatory and asset ownership vacuums.
The ceiling for securities tokenization lies not in technology but in governance.
Without resolving "who has the right to decide," the tokenization narrative cannot bypass the issuer's authority granted by corporate law and listing agreements.
The remaining companies remain silent, awaiting whether the SEC will amend the default consent mechanism or whether OKXICE will adjust the list or timeline. $BTC $ZEC $HYPE @OKX中文 @OKX星球 Democrats reclaim the House of Representatives! Is Trump's "crypto grand plan" doomed?
Lords, here’s the big breaking news from Jin10: The Democrats have taken back the House, officially ushering the U.S. into an era of "divided government." For the crypto world, this is like flipping over the freshly served "crypto feast" on the table!
Let's break down the knives behind this:
First knife, aimed at legislation. The promises drawn by the Republicans—national Bitcoin reserves, comprehensive deregulation—are now completely stuck in the House. The so-called "policy dividends" have become Schrödinger's cat.
Second knife, precise audits. The Democrats have declared they will thoroughly investigate the finances of Trump's inner circle. Don't forget, the Trump family holds massive crypto assets; with a magnifying glass on the whales' accounts, a major scandal could erupt at any time.
Third knife, macro division. The two parties are at each other's throats, making it highly likely that government spending bills will stall.
Looking at the market, Bitcoin is now fiercely testing the critical $76,000 support line. Bulls were counting on post-election policy benefits, but instead got caught in political bickering.
I’ll be blunt: political uncertainty is the Achilles' heel of risk assets. The iron lid at $81,700 is getting heavier; if $76,000 support fails, the $74,000 liquidation minefield will explode immediately.
At this moment, don’t try to bottom-fish those concept coins highly tied to Trump. When gods fight, mortals suffer. Hold your hands, wait for this tsunami wave to pass, and then see who’s swimming naked!Everyone at $ETH Square is talking about Ethereum, review: valid range 2,237-2,304; short position 20x, opened at 2,259 stop loss 2,332 T1 2,241 T2 2,174; Auntie ETH is always upgrading, never lukewarm; actual drop 0.1%, 20x perspective magnified about 0.0x; the biggest fear for short positions is sudden rebound, 20x tolerance only 5.0%, reverse volatility is fatal; main position violently withdraws to lock in profits, base position stop loss welded at opening price, remaining positions float as free chips with the trend, withdrawing with money is the bottom line #crypto #ETH🔍I see this short position, and the first thing I want to check is not "what does he know," but "how long is he prepared to hold." A short position can indicate direction, but it doesn't necessarily reveal the trader's patience, so don't rush to conclusions.
Core Trader 97 (0x940acf…7e639) opened a short on $HYPE with 10x leverage, holding 6,554.08 tokens, with a notional value of about $538,800, reference price $82.2136.
An interesting detail here: this is an opening position, so the outcome is not yet decided; notional position does not equal principal; roughly calculated at the current scale, a 1% adverse price move would result in an unrealized loss of about $5,388. My speculation is: he might be aiming to catch a pullback rather than holding a long-term short, as leverage compresses the room for waiting.
I will continue to watch his actions when facing adverse price movements: whether he reduces the position or adds margin. Which do you think better indicates his willingness to hold long-term? Let's watch the follow-up together and see whose speculation is closer.The biggest difference between UNI and NEAR right now is not how much they have dropped, but whether they have hit the brakes. UNI is repeatedly testing key levels, while NEAR has already broken through the floor.
$UNI is currently around 7.15, with repeated tests between 7.0-7.06 that have not been broken through at once. 7.0 is the platform support from early September. The 1-hour chart is weak, the 4-hour chart is strong; this kind of cycle divergence looks more like a consolidation bottoming. Only if it stabilizes above 7.4 can we talk about a rebound. If 7.06 is effectively broken, look for 6.8-7.0. If 7.0 holds, the bottom range is still forming.
$NEAR is the opposite. The 4.60-4.65 box support has been lost, the 1-hour moving averages show a bearish alignment, funding rates are still positive, and the price drop means bulls are still paying to hold on hard, indicating that trapped positions have not been cleared. The risk of a wick to sweep lows is increasing. The short-term watershed is 4.096; a volume breakout below this level targets 3.90 or even 3.40. RSI at 31 is oversold, but oversold does not mean the decline has stopped.
So UNI is building a bottom, while NEAR is still searching for one. But UNI’s signals are clearer: if 7.06 holds and it returns above 7.4, the bottoming process can be considered initially established. NEAR needs to wait for a volume-supported stop of decline at 4.096, a drop in funding rates, or a return above 4.27 before discussing a pause in the trend. Right now, UNI is closer to being watchable, while NEAR is better suited for the observation list, waiting for the right side.Looking at the BNB chart, price spiked up to 810.10 dollars before dropping back down near 691 dollars, showing a strong correction similar to older market cycles when pumps were followed by sharp pullbacks. Back in July, BNB saw a low near 537 dollars before climbing higher, mirroring past volatility where huge gains face fast drops. My best prediction is that BNB will test support around 650 dollars before attempting another massive rally toward new all time highs above 900 dollars next year. Blue Whale Crypto Daily｜November 4
The market is still somewhat volatile today
Total market cap has fallen back, the fear index dropped to 34, over $200 million liquidated in 24 hours, the disagreement between bulls and bears remains
Currently, BTC's key focus is the support around $76,300, and ETH also needs attention near $2,170
In this kind of market, rushing to judge the direction is not very meaningful. For trading systems, it's more important how to control position size, how to execute after signals appear, and how to handle situations when the market moves beyond expectations
First, clearly understand the market structure, then consider the next step
The market changes every day, rules should not change with emotions 11.4 BTC Morning Analysis:
Entry: Enter near 77600 on rebound pressure and stabilize to set up a short position, targeting 76300/75300
Stop Loss: 78500, break through key resistance, short logic invalid, exit position
Current Market Status: BTC surged to a high of 78039.4, then the upward momentum exhausted, price faced pressure and turned downward. Although there were several short-term rebounds during the decline, the rebound height was limited and never managed to break the previous high again. After the rebound, it faced pressure again and continued to decline, with a low probe to 76714.2. From the candlestick pattern perspective, this is a typical downtrend after a peak surge, with 78039.4 becoming the core strong resistance level in this round. Every rebound is blocked below this resistance. The current market is in a breakdown downtrend phase, with short-term bears holding the upper hand. Only by stabilizing above the 78039.4 resistance can the bears have a chance to reverse this downtrend pattern.
Key Levels: First resistance above at 77600, strong resistance at 78500; first support below at 76300, strong support at 75300. $BTC #美国中期选举进入计票阶段，国会控制权将如何变化？ $SOL has a visible short liquidation order of 250,000 SOL on-chain, with all liquidation prices clustered around $123.
The leverage below has long been completely cleaned out, and the spot buy orders are holding strong.
This juicy bait hanging right in front of everyone, the short sellers can't pretend not to see it.
Pulling up just over ten dollars can tear all these shorts apart; the natural liquidation engine is already in place. It's just a matter of when the throttle will be floored.
#SOL
$SOL
👇#OneChartOneStrategy
He is Martin Luk, a trader from Hong Kong. In one year, he made 940 trades, lost 731 of them, with a win rate of only 22%, yet his account still grew by 969.8%, winning the 2025 US Investment Championship in the stock category.
His method is that the amount earned is unpredictable, but the amount lost can be controlled. So he only buys where the stop loss can be set very close, admits losses immediately if wrong, and holds a bit longer if right.
I made his entire strategy into this chart.
This chart can be viewed like this: top left first does the math, average gain 14.12%, average loss 2.08%, one winning trade covers nearly 7 losing trades, similarly a 25% gain with a 3% stop loss is just over 8R, and a 1.5% stop loss is nearly 17R.
Top right is daily stock selection, two scanners filter the watchlist.
The middle row shows three buying methods: pullback, breakout, and EP gap, each with an illustration. Below that is the main flow of the entire chart, how a trade progresses from entry point to stop loss and position size all the way to exit. The rules legend on the right lists all stop loss and exit rules. At the bottom is a real AMPX trade and when to reduce trading.
The three buying methods plus stock selection, stop loss, position sizing, and exit rules—all the strategy is put into one chart.The Korean stock market fell 3.59% today, closing at 5648 points. The two major memory leaders dropped 4% and 5% respectively. Foreign investors net sold 15 trillion KRW, while retail investors took the opposite side with 17 trillion KRW. The chip industry's performance itself did not reveal any new bad news; the trigger point was the exposure that two major US tech giants are each seeking to raise $20 billion to invest in AI. The market is now pricing not a memory price increase, but how long this round of capital expenditure money can still be borrowed. #AMD data center revenue nearly doubled, revenue and guidance both exceed expectations
The boss has something to say
AMD's Q3 earnings report is extremely explosive. Revenue reached $13.377 billion, a 45% year-over-year increase. Data center business revenue was nearly $8.5 billion, a staggering 97% year-over-year surge, setting a new quarterly high. The Q4 guidance was also given at $17 billion, exceeding expectations. CEO Lisa Su even expects revenue to grow at least 80% year-over-year by 2027.
But the market gave a direct blow. AMD fell 2.65%, xAMD fell 2.61%. Why was the stock crushed despite such good results and strong guidance?
I believe this is a typical case of "expectation overreach and macroeconomic squeeze". Market expectations were already very high before the earnings, even pushed up pre-market. Once the data landed, even though it exceeded expectations, funds chose to take profits. More importantly, the aftereffects of last night's global liquidity squeeze are still present, coupled with a 70% probability of a rate hike in December. Under a hawkish macro environment and deleveraging backdrop, no matter how good the earnings are, they can't withstand the flood of capital withdrawal.
The impact on crypto is indirect. Even the semiconductor leader's strong guidance can't lift the market, indicating that the tech stock valuation cut sentiment has reached an extreme. Risk appetite is shrinking, and BTC also lacks upward momentum.
BTC is currently oscillating between 77,000 and 80,000. Let's see if it can hold above 80,000; if not, expect a deeper pullback, with resistance above at 84,000 to 85,000. Don't chase the rise or kill the fall, just set your stop losses properly.
The above analysis is time-sensitive; orders must have stop losses set. Good luck. $BTC $ETH $ZEC The weekend panic has just passed. What the market fears most is not sudden negative news, but the obvious supply scheduled on the calendar. Unlocking events are never hidden; anyone can check the timetable. The real difference lies in whether you have factored it into your position.
I checked Tokenomist's schedule for this week, totaling about $548 million in unlocks:
$IMX releases 24.52 million tokens on November 29, accounting for 1.47% of circulation;
$OP releases 31.34 million tokens on the 30th, accounting for 2.5%;
$1INCH releases 98.74 million tokens on the same day, accounting for 7.72% of circulation, the most severe among the three.
10x Research has previously warned that large unlocks will suppress altcoin rallies, as venture capitalists have redemption needs. In terms of price, when the rebound hits resistance levels, some will sell, and even small fluctuations get amplified.
My plan: For 1INCH at this scale, I won’t touch it before it lands; for OP derivatives, the outlook is constructive, with over 60% of top traders going long, so only consider adding positions if it stabilizes above 0.16; for IMX, wait until after the unlock day to look for a dip to buy. Obvious negative supply won’t cause a deep pit, but there’s no need to rush.
Waiting for the unlock to land before acting is the most worry-free strategy this week.Not exceeding expectations indicates that the crypto boom is just a false prosperityGood morning, brothers, I am Siqing.
Taking a look at the market, it's simply unbearable to watch. BTC has fallen below 76,800, ETH has dropped over 1.6%, and tech stock tokens are all plummeting. But only ZEC is stubbornly holding around 1200, with a decline of just 0.3%.
Why is it so resistant to falling? Just look at the data:
The long-short ratio has dropped to 0.82, and retail short accounts are as high as 55%!
Everyone across the network is shorting ZEC as the market falls, but the main force has placed thick buy orders at 1200 to firmly support the price. This is a classic "short squeeze trap"! The main force is holding hard to prevent a drop, waiting for retail shorts to add positions.
🎯 Siqing's practical judgment:
1️⃣ Absolutely do not chase shorts: Shorting now is just fueling the main force; once the market stabilizes, shorts could be blown up at any time.
2️⃣ Wait for a breakout on the right side: If the market stabilizes and ZEC volume increases to hold above 1205, you can lightly go long; if the market continues to crash and the main force can't hold and withdraws buy orders, breaking down through 1192 with volume, that is the right-side opportunity to short with the trend.
If the overall environment hasn't stabilized, avoid guessing blindly in the middle. Hold your USDT tight; don't release the hawk without seeing the rabbit!
⚠️ This is an objective review only and does not constitute investment advice.
👇 Brothers, do you think this 55% short position will be counterattacked? Let's discuss in the comments!🍵#美国中期选举进入计票阶段，国会控制权将如何变化？ $ZEC $BTC $XAU Rumors say the US military might strike Iran as early as Wednesday after the midterm elections, with three aircraft carriers already deployed, yet oil prices continue to weaken. Many wonder: with geopolitical conflict imminent, why aren't oil prices rising, and why isn't safe-haven capital flowing in?
The market no longer simply applies the old logic of "war = safe-haven rally." The full transmission path is: conflict pushes oil prices up → inflation rebounds → rate cut expectations are delayed, ultimately putting pressure on gold and risk assets alike, making it naturally difficult for Bitcoin to benefit.
Don't reflexively rush to safe havens just because of Middle East geopolitical news. First, assess: if the conflict materializes, will the market interpret it as a safe-haven event or as new inflationary pressure and rate hike expectations? Think carefully before acting.
⚠️ This is only a market perspective sharing, not investment advice. BTC SHORT SETUP
$BTC is facing bearish pressure at 76,863.6. A weak recovery toward the entry zone could offer a short opportunity. Sellers need to maintain control below resistance.
Entry: 76,940–77,094
TP1: 76,249
TP2: 75,788
TP3: 75,326
SL: 77,479
Wait for bearish rejection before entry.#SonyQ2GamingAndMusic On November 4th, $BTC, Federal Reserve officials' hawkish statements suppressed rate cut expectations, the US dollar strengthened, continuously suppressing risk assets; Bitcoin spot ETF has seen net outflows for several consecutive days, with institutional funds continuously withdrawing.
【Today's Strategy】
Entry range: Short positions arranged on rebound between 77800—78300
Stop loss set: Above 78800
Take profit set:
Target: 77000—76200
【Core Logic】
60-minute level shows a downward continuation pressure zone, concentrated trapped selling pressure, rebound lacks volume support, high probability of falling back under pressure. Market expectations for a December rate hike remain above 73%, interest rate futures pricing still allows room for hikes within the year, the expectation of a continued high interest rate environment is strengthening, directly suppressing risk asset valuations. #BTC现货ETF连续流出 #美国中期选举进入计票阶段，国会控制权将如何变化？
✅ Current Situation
Voting day was November 3rd, and states are still counting votes. The latest media forecasts: the Democratic Party is highly likely to regain control of the House of Representatives, while the Senate outcome remains uncertain.
👉 Core Impact: The possibility of a split Congress (different parties controlling the Senate and House) has greatly increased, directly making it difficult for new legislation to pass quickly.
🧾 Three Community Perspectives Breakdown
1️⃣ “Historically, BTC pulls back to a bottom before rebounding after midterms”
This is just a historical statistical pattern with a very small sample size (only a few midterm elections), so there is no guarantee it will repeat.
• Even if history shows a "drop then rise," the real drivers of the rally are usually Federal Reserve interest rates and ETF funds, not the election itself; elections mostly cause short-term emotional disturbances and rarely change the big trend.
2️⃣ “Market consensus is one-sided, order books thin, so volatility will amplify if surprises occur”
This is a very critical risk point:
If the vast majority have already bet on the same outcome in advance, once the counting results differ from mainstream expectations, capital will reverse sharply, causing violent market swings; at the same time, insufficient liquidity will cause severe slippage.
3️⃣ “Whether stablecoin and market structure bills pass will determine crypto sector differentiation”
✅ If the Republicans maintain control of both chambers: the resistance to pushing stablecoin legislation (GENIUS Act) and the "Clear Act" will be smaller, which is positive for stablecoin issuers like Circle The product expires on November 26. Seeing this date, I want to pour some cold water first: a product nearing expiration going live alone can't support the imagination of "continuous inflow of institutional funds." Janus Henderson's AAA CLO strategy launched deJAAA on Pendle through Centrifuge, and the platform also released an interview with the person in charge. The news carries weight, but what I care more about is what this integration will leave behind, not how famous the name is.
I am cautious for two reasons. First, going live does not equal new funds; the materials did not provide subscription scale or participation details. If the market directly interprets product availability as funds already entering, that is mistaking the entry point for traffic. Second, the expiration date is imminent. Even if there is heat now, it cannot be used to judge how long the demand will last. For Pendle-related sentiment, integrating traditional assets is a good story, but whether the story can turn into sustained usage depends on the handover before and after the product expires, not just the moment it goes live.
Of course, I might be underestimating this step. If the integration itself can lower the usage threshold for similar products later, its significance is not limited to this issue. If later we see actual participation, smooth handling at expiration, and subsequent products continuing to meet demand, I will upgrade my judgment from "sentiment positive" to "business progress." For now, I will watch the direction after expiration and not applaud funds that have yet to appear. A single on-chain action pressed down both legs of HYPE simultaneously.
Let's start with the numbers: an address called Yeti0x transferred about 2.49 million USD worth of KHYPE from a multisig wallet, exchanged it for 29,870 HYPE, which at the time was worth about 2.45 million USD, and deposited the full amount into Hyperliquid, already placing sell orders on the spot market.
Note the difference. 2.49 million in, 2.45 million out, a loss of about 40,000 USD in between. This is not a fee; it’s the discount he paid to "immediately get spot assets." People willing to take a loss at the exchange step usually aren’t here for swing trading—they want certainty.
Now look at the path. KHYPE is a staked form of HYPE, requiring a queue and time to exit. He took the route of staking certificates, spot assets, exchanges, and selling—a very short process. He gave up not only that 40,000 USD but also the yield he would have continued to earn.
The implication for $HYPE is twofold. The spot side now has a certain selling pressure of 29,870 tokens; 2.45 million USD isn’t fatal, but when liquidity is thin, it’s enough to suppress a rebound. More importantly, watch the staking side: if this isn’t an isolated case, it could be followed by a batch of positions wanting to exit.
One point worth considering: by converting interest-bearing positions into immediately sellable ones, is he selling the tokens or his judgment during this period?Let's start with a rather awkward scene. The US stock market closed higher last night. The Philadelphia Semiconductor Index rose +2.6%, AMD gained +5.65% in a single day—good earnings, and the AI momentum continued. This morning at 9:15 AM, the Nikkei 225 dropped more than 2%, the South Korean Composite Index reversed from over +3% gains to decline, and Nasdaq futures fell more than 1%. Meanwhile, BTC was still at $77,861 (+1.32%) at 8:19 AM, but now it's $76,802 (-0.35%). Within one day, most of the gains have been given back. When the results came out, why did it fall instead? Many people's first reaction was: the election had an unexpected outcome. It did not. In late October, prediction markets gave the "Democrats taking the House" a 93% probability and the Senate 68%. In other words, the market had already priced in the "president and Congress split between two parties" scenario. So no rise on election day is not surprising. It would only be surprising if the results deviated from this expectation. What was truly repriced was another matter: interest rates. On October 28, the Federal Reserve kept rates at 3.75%—4.00%, but two members dissented. The market began to factor in the possibility of a rate hike in December. This is the real source of pressure on risk assets these past two days. The election is the backdrop; interest rates are the variable. Yet most people are focused on the backdrop. On the crypto side, by around 10 AM, BTC was at $76,802 (-0.35%), ETH at $2,260 (+0.16%) If the Democratic Party sweeps Congress, the real thunder in the crypto world won't be legislation, but subpoenas.
PUPples
$BTC Kalshi gives the Democrats' winning odds: 94% for the House, 74% for the Senate. Many are focused on whether the CLARITY Act will pass or fail, but more attention should be on Warren. She is very likely to become the chair of the Senate Banking Committee, holding subpoena power, and her first move will be to target the OCC's approval of bank licenses for Ripple, Coinbase, and WorldLiberty Financial. This is not legislation; it's a direct audit of your assets.
$ZEC TD Cowen's assessment is straightforward: if Democrats sweep, CLARITY will be delayed at least two years, and personnel appointments at the SEC and CFTC will be blocked. In the short-term pricing, BTC is relatively resilient, with a median expectation around 76,000; ETH is already pressured by ETF outflows and is less elastic; COIN and altcoins will take the initial hit. However, a divided Congress might actually be "bad news priced in" — one bill won't pass, but SEC/CFTC administrative rules will fill the gap, keeping volatility manageable.
My own observation: the real risk this round is not "banning crypto," but a sudden increase in compliance costs. Whoever holds bank license applications or has ties to the Trump family will be the first to be targeted by subpoenas. 11.4 BTC Layout Strategy
Currently, BTC is in a retracement adjustment phase, with the latest price fluctuating around 77000. The Bollinger Bands are opening downward, and the price has approached the lower Bollinger Band support; short-term bearish momentum still dominates and is in a release phase. The key support below is at the previous low around 76270. Today's strategy is to trade for a rebound as long as the previous low support is not broken.
Entry range: Around 76500 for a long position (enter only after stabilizing without breaking the previous low)
Stop loss: 75750
First target: 77500 (middle Bollinger Band, first rebound target)
Second target: 78200 (near the upper Bollinger Band, short-term strong resistance)
Third target: 79000 (near previous high resistance) $BTC #美国中期选举进入计票阶段，国会控制权将如何变化？ Funding rates have hit the floor? Do you really think this is a signal for bottom fishing or top timing?
📊 Market snapshot for November 4 (Wednesday): BTC 76,947 (24h -0.1%)｜ETH 2,262 (+0.3%)｜SOL 91.88 (-0.3%)
Today, several newbies messaged me privately, waving screenshots of BTC funding rates asking, "The rates are almost down to zero now, does that mean everyone is bearish and about to dump?" I glanced at the current sideways price of 76,947 and could only say these people haven’t even grasped the basic logic of funding rates, yet they dare to throw real money into the market with contracts.
Many people have a deep misunderstanding of funding rates, always thinking "high rates mean the whole market is long and about to crash, low rates mean the whole market is short and about to rally." At this level, less than 0.1%, frankly, it just means the market has been sideways for too long, longs and shorts are too lazy to adjust positions, and the calculated number is just a filler—if big money were really leading the charge to pump or dump, could funding rates stay so indecisive and emotionless?
I’ve personally suffered from this before. Recently, when I saw rates drop close to zero, I thought everyone was aligned to move in one direction, so I opened a position and waited three days, but the market kept sideways, and small fluctuations wiped out my unrealized profits. In the end, I closed out with nothing to show for it.
#MarketAnalysis #Contracts #TradingPsychology #ValueSharingStarting at 7 AM, $ETH slid down from 2295 all the way to 2259 within two hours, wiping out a wave of long contracts, and the open interest also dropped by about four points.
Logically, the bulls should have calmed down by now, but the account long-short ratio rose again from 2.24 back to 2.34, with retail investors buying more aggressively during the decline than last night.
Originally planned to take that spot at 2250, but I'll hold off for now, waiting for this batch of bottom-fishing longs to be shaken out and the long-short ratio to fall back below 2.2 before proceeding.
$BTC $ZEC
#美国中期选举进入计票阶段，国会控制权将如何变化？ $AAPL beat earnings expectations, but the stock still fell. The market isn't focused on current profits; it's questioning Apple's future AI growth. Strong earnings reflect the past, but stock prices are driven by future expectations.Conclusion first: $NEAR 3.776. On November 2, the community vote passed to cut the annual issuance cap from 2.5% to 1.6%—yet the token price dropped 9.87% that day and fell 11.9% over two days. This "positive" cut is actually cutting your earnings.
Three numbers:
① Total staking yield dropped from 5.27% to 3.37%. For 10,000 tokens (about $37,800), annual earnings fell from $1,990 to $1,273.
② 32,200 fewer NEAR tokens issued daily. The proposer estimates 11.8 million fewer tokens issued over two years, a 4.36% lower supply compared to the original path.
③ The proposer Sal Ternullo (SVRN CEO) holds 55 million NEAR, 90% already staked, accounting for over 8% of total network staking.
Not yet effective: security council review → 90-day grace period → validator upgrade before binding, and it takes 24 months to reduce to 1.6%. The proposal admits: under the new rate, 24 validator pools cannot cover costs.
The market also does not support this "positive": perpetual/spot trading volume is only 1.6x (not a leverage liquidation); open interest dropped from $55.56 million to $52.88 million (-4.8%); funding rate remains +0.01%/8h, longs are paying.
For a 4.36% supply reduction, accepting yields dropping from 5.27% to 3.37%, why would you do that? $NEAR A screen of red across major crypto pairs is rarely the story of one coin breaking. Today it is a story of stacked pressure: $BTC at $77,046, $ETH at $2,268, $SOL at $92.38 and $DOGE at $0.07415, with $BTC's modest 0.60% decline setting the tone rather than the temperature. The outlier is $OKB, down 3.15%, more than five times the flagship's move. That gap matters because it does not fit the macro explanation neatly. The backdrop is familiar: US technology shares remain under pressure, global ri$SNDK The bearish view from last night still applies today
Brothers, last night ChainEye said that after SanDisk opens, if it rebounds to around 1150-1160 without volume, don't chase the longs. As a result, it peaked near 1153 last night and then dropped, following the same script: rebound to lure longs, pressure not broken.
The news side is also not cooperating. Kioxia said the momentum of flash memory price increases is slowing down, and the market's biggest fear is that the price hike logic has peaked; institutional target prices are also being lowered, and SanDisk executives are still reducing holdings at high levels. All these are suppressing sentiment.
What about the follow-up??
The first target now is still 1080, and if it breaks below, then look at 1020. As long as it doesn't stand back above 1160, the bearish structure remains intact.
$ZEC $SOL #Circle财报在即，稳定币增长能否兑现收益？ Watching celebrities shorting is often mistaken as a bearish signal. Lookonchain monitored: James Wynn was liquidated 5 days ago and shorted 1.256 $BTC with 40x leverage, about $96,000.
On the other hand, I think the emotional impact of this news outweighs its informational value: a single position doesn't indicate market direction; high leverage amplifies volatility's effect on the position and doesn't increase judgment reliability. I don't use celebrities' positions as a guide.$ZEC whale alert! A major player bought 3,052 ZEC spot for $3.8M and opened an additional 8,000 $ZEC 2x long worth $10.16M. Spot accumulation plus low-leverage longs signal strong bullish conviction. All eyes on the next move! 🔥🤔$BTC bulls still fantasizing about a bull comeback? Look at this trading volume, it can't even touch 78000 before being pressed down by the bears!
Look at this 1-hour chart, all moving averages have formed death crosses pointing downwards, clearly a descending channel! Then check the whale data, the bears have a massive force of 3.47 billion U pressing in, while you bulls only have 600 million U, what do you have to hold against that?
Although the bears are slightly trapped at 75941, as long as they push down a bit more and break below 76260, you bulls deeply trapped at 84k will immediately trigger a chain stampede, and liquidation orders could instantly smash the price down to 75000!
Stop catching falling knives, when it rebounds near 77200, join me in shorting, breaking the previous low will lead to a waterfall drop!
$ETH $SOL
#美国中期选举进入计票阶段，国会控制权将如何变化？ BTC surged to 78,000, now pulling back to around 77,000.
This wave has nothing to do with the crypto circle—last night the Philadelphia Semiconductor Index rose 2.6%, AMD's earnings blew up, chip stocks led the Nasdaq rebound, and BTC just followed along for the ride. ETH is at 2,269, not even reclaiming 2,300.
But the money hasn't returned. The US spot BTC ETF is still seeing net outflows, with BlackRock's product being the main source of withdrawals. Another 170 million exploded in 24 hours, bulls account for 59%. The fear and greed index is 35, still in the fear zone.
Today's real variable is the election. Betting platforms give the Democrats a 95% chance to take the House and 77% for the Senate, but institutional positions haven't caught up at all. If a "blue wave" really happens, there's a high probability of a first dip.
Conversely, since 1982, in the 6 months after midterm elections, the S&P has averaged a 15% rise. Short-term and mid-term directions are opposite.
What do you think today, will it rise first or fall first?
#美国中期选举进入计票阶段，国会控制权将如何变化？ $CORE The most ironic thing about this chain: it is still "alive," but all the evidence of life are just specimens.
An on-chain ecosystem statistic gave a number: there are 300 contracts listed, but only about 10 actually have funds, users, and ongoing transactions.
The remaining 290 are "zombie DApps" deployed with one-click templates—launched for airdrop events, once incentives stop, funds drop to zero, contracts remain, event records remain, but the people are gone.
The daily transaction volume on the on-chain DEX once was only $148. Over 34,000 transactions, the real value exchanged was less than $150. Scripts are running, addresses are moving, blocks are being produced, but the economic activity column is filled with air.
Another line is quieter and more honest. BTC staking volume slid from a peak of 5,588 coins down to just over 3,600 coins, with the total staked amount simultaneously evaporating 200 million CORE. In the same time window, official related addresses transferred over 20 million coins to exchange hot wallets.
On one side is the narrative of "locked tokens are bullish," on the other side, on-chain transfer records are writing a different version.
So the phrase "the chain is alive" is not wrong. The Core mainnet is indeed still producing blocks, and in the past 30 days, its transaction count even ranks first in the BTCFi sector.
But "alive" and "alive" are two different things. Having 300 contracts on a chain does not equal having 300 ecosystems; having 30,000 transactions does not equal $30,000 in economic activity. Numbers can be displayed, specimens can be exhibited, but specimens do not sweat.
A real ecosystem does not need to prove it is alive by the number of contracts. It only needs one thing: people willing to use their own money to do something here other than just claim rewards.
What $CORE lacks today is not a story, but this very thing.
$CORE When I saw this message, my first reaction was: just got liquidated, and now 40x leverage again? I've only been in the circle for a year, and I'm still attracted by this kind of operation, but after reading it, I remind myself not to mistake daring to open a position for being right 😂
According to PANews citing Lookonchain monitoring, James Wynn returned 5 days after being liquidated and shorted 1.256 $BTC with 40x leverage, with a position value of about $96,000 and a liquidation price of $78,227.92.
My understanding is that this message is more like a high-leverage risk example, not enough to be taken as a basis for bearish market sentiment. I don't know if I'm right, but one person's position only shows their choice and cannot directly prove where the market will go next.
Leverage amplifies the impact of price reversals on margin; judging direction and being able to withstand interim volatility are two different things. Also, the material doesn't explain his complete assets and hedging situation. Ordinary users who just follow the leverage ratio might face completely different risks. This is why I think its significance as a reminder to beginners is greater than its directional significance.
I haven't figured out what position this trade holds in his overall strategy. Next, I want to observe how the position changes and not infer the entire trading logic from a single opening action.$SNDK SanDisk (SNDK) Comprehensive and Firmly Bearish Analysis: The Thousand-Point Threshold Will Definitely Break, High-Level Market Completely Ends In-depth Short Logic Review of SanDisk SNDK. No optimism, no betting on rebounds, no guessing on fluctuations, just explaining why the 1100+ level is absolutely the top, and the only future trend is a gradual decline + breaking below 1000, possibly further probing new lows. Many retail investors are still hoping: earnings reports exceed expectations, gross margin is outstanding, performance looks good, so the stock price should hold steady. This is the biggest trading misconception—the stock market always trades expectations, not the current situation. All market signals, industry turning points, and capital behavior point to one thing: SanDisk's bull market is completely over, and the main downtrend has just begun. 1. Core Fatal Logic: The Industry Price Increase Cycle Has Officially Peaked The only support for this round of SanDisk's doubling rally was the AI storage price increase logic. In recent quarters, flash memory prices have continuously risen, directly pushing the company's gross margin beyond 85%, creating historic-level performance, and driving the stock price all the way to the 1200+ high level. But recently, the industry's core turning point has been confirmed. SanDisk's deeply tied partner Kioxia officially announced: the AI-driven flash memory price surge is cooling down, future price increase space is exhausted, and the industry's prosperity has peaked. This is not a minor negative; it is the complete collapse of this bull market logic. The storage industry is an extremely cyclical industry: the price increase cycle lifts all valuations, and once price increases stop, what follows is inventory accumulation, price decline, gross margin drop, and performanceMPC architecture can't save "authorization already effective" — what this means for on-chain perpetuals
Following up on the previous point about the technical layer.
The advantage of MPC wallets is that there is no single private key, theoretically making them more secure — no single key can be stolen. But this time it exposed another side: without a single private key, there is no "one-click revoke" action.
After the attacker delegates execution rights to a malicious contract using EIP-7702, revoking this delegation can only be done by initiating a new on-chain transaction. During this period, the authorization remains valid.
The permission model of on-chain perpetuals has the same problem. Once your account authorization, API key, or sub-account permissions are granted, revocation requires on-chain confirmation.
So the practical approach should be:
1. API keys should only be given necessary permissions. Do not grant withdrawal permissions or full account permissions.
2. Isolate sub-accounts. Separate trading and funds; if one account is compromised, it doesn't affect all.
3. Regularly clean up authorizations. Revoke all those you no longer use or were temporarily granted.
"Security" in the on-chain world is not a state, but a continuously maintained permission list.$FIL currently has paid orders of only $4 per day. How to reverse this?