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If this $UNITREE doesn't drop soon, I really won't be able to hold on today.
Looking at that scorching red 95.60 on the screen, and then seeing the -75.98% unrealized loss in my account, my chest aches in waves.
I opened a short at 76.28, and now it's been roasted alive for nearly 20 points.
Last night, when I saw it surge to 104, I was already mentally prepared for liquidation.
But why have I been gritting my teeth and still haven't hit the close position button?
Go check the 1-hour chart.
After surging to 104, it was all show and no strength, immediately softening.
Now it's stuck around 95, moving sideways, with EMA20, EMA30, and EMA60 pressing down hard—does this look strong?
This is "exhaustion after a high-level bull trap."
Today they even announced a "20 million investment into the Embodied Intelligence Base," but what happened?
The market can't even make a decent splash.
All the good news is just a cover for the main force to unload!
The astronomical hundreds-of-times P/E bubble of Yushu on the big A market has long been ready to burst.
Now in crypto, this price is propped up purely by sentiment; once funding dries up, the fall will be faster than anyone else.
I'm trapped like this now; cutting losses is impossible, I will never hand over chips at this position in my life.
But I have to warn my brothers: never chase shorts at this mid-level!
Even the dog whales have shaken me this badly; they could spike it up again anytime.
We have to wait, wait until it completely exhausts the last strength of the bulls.
As soon as it dares to break the short-term support at 94, that will be the real signal for us shorts to launch a counterattack.
I can't swallow this anger! Let's see how long it can rage, sitting tight for a high short dive!
$BTC
$ETH
#美联储维持利率不变，12月加息分歧升温 The Federal Reserve no longer provides explicit forward guidance; all decisions depend on CPI, core inflation, non-farm payrolls, and wages; strong data → next rate hike; weak data → next rate cut; end of rate hikes is positive for crypto, takeoff takeoffRegarding Terafab, the easiest misunderstanding is to directly interpret "participating in the project" as having secured huge wafer foundry orders.
Intel is already involved, but the subsequent cooperation model is still worth breaking down: providing manufacturing processes, participating in technology development, or directly undertaking production in its own factories—all have different revenue structures.
At the same time, TSMC has also confirmed that it is discussing capacity cooperation related to Terafab, but no clear conclusions that can be announced have been reached yet.
Putting this information together, I think the most important question now is the division of labor. Who provides the technology, who operates the factories, and who is responsible for production yield and delivery? These will affect how much revenue Intel ultimately receives and how much investment it needs to bear.
I hope Intel's foundry transformation can make progress and acknowledge that a large project may bring opportunities in technology and customers. But the more attention a cooperation receives, the more it requires specific terms to support judgment.
If technology licensing is realized, it could also be a good business; directly undertaking manufacturing depends on capacity and profit. There is no need to choose the most profitable version for the company when details are missing.
Terafab is worth tracking. The next step that would make me willing to raise my judgment would be clearer cooperation scope and execution progress, rather than appearing once again in the same group photo.
#英特尔代工转型迎来Terafab新变量 CoinDCX suffers another $16 million loss: Old wallets become new risks, exchange security boundaries need reassessment. An abnormal transfer of approximately $16 million USDT has once again put the Indian cryptocurrency exchange CoinDCX under dual scrutiny for security and operational management. Unlike traditional attacks targeting active hot wallets, this incident involved decommissioned old wallet infrastructure and a malfunctioning automatic fund aggregation system. More notably, CoinDCX founder and CEO Sumit Gupta initially referred to the on-chain alert as a possible "false positive," before the platform officially acknowledged the loss. For cryptocurrency exchanges, this incident raises a more complex question than whether private keys were leaked: when old addresses can still receive user funds and internal systems fail to promptly transfer funds to secure environments, what does the so-called infrastructure decommissioning truly mean? Why can "decommissioned" wallets still receive funds? The CoinDCX incident exposes a structural blind spot in exchange operations. Wallets are often marked as deactivated in internal records, but the corresponding blockchain addresses remain valid and can still receive deposits. If user-end systems, deposit monitoring tools, and automatic aggregation processes are not fully synchronized with the decommissioning process, funds may remain stuck in addresses no longer actively monitored or protected. In this incident, the automatic fund aggregation system failed, causing incoming USDT to not be transferred timely to a secure environment, thus exposing it to risk. This is not an isolated technical failure but a governance issue.Galaxy believes the BTC bear market may have ended. Why are institutions turning at this point? First, the news. Key points: Galaxy publicly stated that the BTC bear market may have ended (cautiously worded). Market conditions at the same time: BTC at $80,948.4 (+0.49%, nearly one week -4.25%); ETF latest single-day net inflow of 111.5 million, 5-day net outflow of 28.7 million, 10-day net inflow of 308.2 million; Fear & Greed Index at 51; USD at 102.43, gold at 4,065.7, S&P 500 at 7,722.6. Next, looking at capital impact. Institutional turning points are usually based on three observations: first, the price has not broken key support (79,220 held); second, capital begins to flow back (10-day +308.2 million); third, macro environment improves (gold and US stocks rising simultaneously). All three now show preliminary signs, so the judgment that the bear market may have ended has appeared. Implications for BTC: Institutional views themselves do not immediately change prices, but they change capital expectations. As more institutions shift from bearish to neutral-to-bullish, allocation funds will gradually enter. This is exactly the script before the rebounds in June and September—first the viewpoint shifts, then capital inflows, and finally price breakthroughs. I will next watch four indicators: first, whether ETF inflows can continue; second, whether BTC can stand above 84,900; third, whether the US dollar index 102.43 will fall back; fourth, whether more institutions follow similar judgments. So the question is left to you: do you agree Since we've covered the earnings reports of Google and Microsoft, let's also preview Amazon's earnings report coming out early morning! Amazon's position among the three major cloud providers this week is very critical—double verification. Given that Google's earnings report had some flaws, Amazon's report becomes quite important. Whether it can boost confidence in cloud providers depends on Amazon! Amazon's earnings validation logic also looks at five key elements: revenue + AI capital expenditure + free cash flow + future guidance + AWS. The validation logic can be: AWS growth → AI CapEx → AWS profit margin → FCF → Q4/2027 guidance. Compared to Microsoft and Google, Amazon faces more direct pressure; the market wants to draw a conclusion from the earnings report—can AI investment quickly convert into cash flow? Revenue: >203B is excellent, 201-203B is acceptable and meets expectations, 199-201B is weak, <199B is clearly poor. However, revenue has a lower weight in tonight's earnings because the core AWS determines valuation. #AWS computing power demand is strong, what are the highlights of Amazon's Q3 earnings? AWS: the primary focus tonight. Q2 AWS revenue was 42.2B, up 37% year-over-year, with AWS operating profit reaching 16.6B. This means AWS is the core of Amazon's AI growth story and profit story. The mainstream expectation is 45.4B, corresponding to about 40% year-over-year growth, so AWS growth rate reaching 40% is key. >40% is excellent, 41% greatly exceeds expectations, 37%-40%Ethereum ETFs are approaching an unpleasant historical record: a net outflow of about $1.32 billion since October, just about $100 million short of the $1.42 billion record set in November 2025, with only a few trading days left. Meanwhile, Bitcoin ETFs have quietly been attracting funds, with a net inflow of $137.3 million just yesterday, of which IBIT contributed $136 million.
1. What has changed?
Funds are choosing BTC over ETH. ETH ETFs have seen net outflows for three consecutive days, with ETHA alone seeing a single-day outflow of $44.8 million; Bitcoin ETFs have accumulated about $424 million in inflows over the past three trading days.
2. Why is this worth attention?
BlackRock is simultaneously using IBIT to capture BTC buying demand while transferring nearly $200 million in ETH to Coinbase within two days. The same issuer is making completely different moves on these two major assets. This is not retail sentiment; it is institutional money making a choice.
3. Which market observation is currently more supported?
It supports the view that ETH is temporarily weaker than BTC at the institutional allocation level, rather than a full bearish outlook. Whether the tokens transferred on-chain to exchanges are actually being sold as real selling pressure, and whether the October outflow record will ultimately be broken, are the key confirmation signals to watch in the next two days.
If the record is indeed broken in the last three days, the story will become hard to ignore. Feel free to discuss in the comments whether you think ETH is being unfairly punished or if this is justified. #美联储维持利率不变，12月加息分歧升温 $BTC $ETH 📌25x ETH Short Position Breakdown: The stop loss looks set on the order, but the threshold had already triggered liquidation early $ETH
▪️Position: Short 9,700 ETH, valued at 22.46M USDT, average entry price 2311.92 USDT, current unrealized loss 48,000 USD
▪️Orders: Take profit at 2058.2 (down 11%), stop loss set at 2750.1 (up 19%)
▪️Key risk: 25x leverage, if ETH rebounds 4% to around 2400, the position is immediately liquidated, rendering the stop loss order ineffective
💡Opinion: The risk-reward structure is distorted, representing an extreme bet on a one-sided downtrend. This stop loss is merely a placeholder order without real protective effect; such aggressive trading is not suitable for typical traders to follow.
⚠️Market information only, not investment advice$CL crude oil rose early in the morning, but the news only came in the afternoon. Who is positioning ahead of time?
The market pulled up in the early session, and the news broke in the afternoon—a typical case of major players laying the groundwork early and cashing in on the news. Currently, open interest continues to decline, indicating that bulls are taking profits and exiting, not bears dumping positions.
However, the news itself is a double-edged sword: expectations of military action provide a floor, while diplomatic negotiations exert pressure, making it difficult for the market to move smoothly up or down.
It is currently hovering around 101.7, with 99 as the last line of defense. Only above 102.23 will bulls signal a renewed push.
Before the news settles, volatility will only increase. Keep a close eye on key levels and don’t get carried away by emotions.
#霍尔木兹重开方案浮现，油价回落能否持续？ Who exactly profits from crypto trading? The people who make money and those who "trade crypto" are often not the same group.
On the retail side, about 70% of trading addresses incur losses, while 0.0385% of top addresses take over 70% of the profits; among frequent traders, over 60% lose money, and out of a sample of 450,000, only 254 made more than $10,000.
So who is taking the money? Exchanges and market makers first take fees, profiting regardless of market conditions; insiders and manipulators exploit information asymmetry and structural advantages to harvest profits, coordinated wallets simultaneously dump assets; KOLs show public wallet losses, while related wallets profit.
The so-called "nearly 60% profitability" mostly comes from veteran players who have survived three years, while those who lost money and exited are not counted. Survivor bias is the biggest filter in the crypto world.
In short: the money made from crypto trading is not from "trading" itself, but from fees, information asymmetry, structural advantages, and harvesting rights. Retail investors are not investors—they are liquidity itself.
So both those who have lost and those temporarily profiting are just liquidity. People are naturally self-righteous, thinking they are smarter than others, so we all remain in the market proving our uniqueness 😄 After watching today's early morning FOMC, my feeling is: the decision itself (10 to 2 to maintain 3.75%—4.00%) is actually the least important part of the whole event. What is truly worth remembering is what Waller publicly announced — that the Fed will no longer provide forward guidance in the future. 1. What exactly is forward guidance? It is a product of the 2008 financial crisis. When interest rates dropped to zero that year and conventional ammunition was exhausted, the central bank only had "talking" as a tool: telling you in advance that "interest rates will remain low for the next two years," so the market would automatically price down forward rates, achieving easing without spending a penny. Over the next decade-plus, the "dot plot, statement wording, press conference hints" system became the global traders' survival manual — you are not trading today, but the tomorrow the central bank previews. 2. Why did Waller tear it up? Today, his exact words were "Do not pre-judge meeting outcomes," adding "unless a crisis occurs, the market should not overly rely on forward guidance." The logic is actually consistent: forward guidance is a tool from the zero interest rate era, using certainty to guide expectations; but now the Fed is in a rate hike cycle, the economy is "strongly expanding," inflation at 3.7% has been above the 2% target for more than five consecutive years, and any promise can be contradicted by the next data point, which damages credibility. He even refused to describe current financial conditions as "tightening," saying "neither willing nor able" — giving you no words to bet on. The history of guidance failures is not far off. The 2021 "inflation is just temporary" episode... [Federal Reserve Early Morning Decision] 10:2 Hold Steady, But Market Interpretation Is Far From "Positive"
At 2 a.m., the FOMC voted 10:2 to keep the interest rate unchanged at 3.75%—4.00%. The dissenting votes came from Governor Cook and Cleveland Fed President Mester, who advocated for a direct 25 basis point hike; this is Cook's first dissenting vote since becoming a governor, indicating rising internal inflation concerns.
The statement upgraded the economy from "solid" to "strong expansion," with inflation at 3.7%, exceeding the 2% target for over five consecutive years—hotter economy + higher inflation reads as "more hikes possible."
Waller explicitly rejected forward guidance, saying, "Don't preset meeting outcomes"—meaning the Fed will no longer give advance hints about its intentions; everything will depend on the data.
Market pricing is straightforward: a 78.4% probability of a 25 basis point hike in December, and over 50% probability of a cumulative 50 basis point hike by January next year.
The crypto market reacted realistically: BTC surged to 81,768 immediately after the decision, then volume sold off breaking below 80,000 in the afternoon before recovering to 80,150, down 1.6% over 24 hours; ETH was weaker, down 2.1%.
Why didn’t "no rate hike" lead to a rally? This time it’s not a dovish turn but a wait-and-see on data. In an environment without guidance, every key data point (Q3 GDP, September PCE) becomes a volatility amplifier. Don’t read "no hike today" as "no hikes in the future." #美联储维持利率不变，12月加息分歧升温 $BTC $ETH $SOL $NEAR, can the AI theme heat up and convert into on-chain demand? AI capital expenditure is driving up expectations for storage and computing power, but the infrastructure narrative must be validated through paid tasks, call volume, and developer retention. Cross-market tech volatility also reminds us that investment themes are not one-directional. If network usage and revenue rise simultaneously, the AI premium is justified; if there is only conceptual exposure and actual calls stagnate, I will lower valuation expectations.#Hormuz reopening plan emerges, can the oil price decline continue? $GOOGL Google earnings report bombed, I continue to short on the rebound! No matter how hot AI is, it can't stop the market from settling accounts!
The most interesting part of Google's earnings report is: cloud business grew 103%, looking very impressive, but the stock price fell about 10% in after-hours trading.
Why? Because the market not only looks at how much you earn, but also how much you spend and how much profit you finally keep.
Q3 revenue was $127.6 billion, below expectations; adjusted EPS was $2.67, lower than the market expectation of $3.02; free cash flow turned negative to about $9.1 billion. No matter how imaginative the AI business is, with continued expanding investment and advertising revenue missing expectations, the market naturally recalculates the valuation.
My direction is very clear: continue to be bearish on GOOGL in the short term, prioritize shorting opportunities on rebounds! For operations, refer to rebound resistance around $298-302, consider shorting in batches when under pressure, with a target initially at $286.
This time, I'm not focused on how beautifully the AI story is told, but whether the market is willing to keep paying for high investment. No matter how good the news is, if the stock price doesn't agree, you have to respect the market.
#谷歌Q3营收增长，净利润下滑、每股收益不及预期 Tonight at 8:30 PM, the final battle deciding the fate of the Federal Reserve is coming, with the probability of a rate hike reaching 85%!
Q3 GDP preliminary, September PCE, and initial jobless claims will all be released simultaneously: 1. Core PCE is expected to be 0.3% month-over-month (last month 0.2%), 3.1% year-over-year (last month 3.0%)
2. GDP is expected to be 3.2% annualized quarter-over-quarter (Q2 was 2.2%). Additionally, September CPI has already been somewhat hot (0.6% month-over-month, 3.7% year-over-year), so there is mental preparation.
3. Initial jobless claims are expected to be 198,000-199,000, with the previous value at 194,000. If the data comes out below 190,000, pressure increases; above 210,000, pressure eases.
No bad news is good news!$DOOD This dealer is so blatant that they don't even bother to pretend anymore.
Over 10 million dollars net inflow in 30-day contracts, equivalent to forcibly buying 46% of the total market value. On the surface, the market looks calm, but underwater, they're quietly scooping up.
Controlling the market with such density, the resistance above is basically cleared. Anyone still stubbornly shorting at the top is purely leaving fuel for the main force to squeeze the shorts.
It's just a matter of when the dealer feels like it and hits the gas pedal to explode the price.Y Combinator's latest Requests for Startups clearly positions crypto directions: stablecoins, asset tokenization, institutional products, trading, privacy-enabled scalable chains, and AI Agents using crypto networks for financial rails.
The key is that it doesn't treat crypto as a new asset class but places it back into payments, financing, trading, and software infrastructure. YC is not betting on which Token will rise, but on which financial activities will be reorganized.
The driving force has shifted over the past year. Consumer speculation has given way to institutional demand: risk hedging, corporate cross-border fund transfers, and more efficient settlement. If this shift holds, the 2027 RWA competition won't be about who puts assets on-chain first, but who controls issuance standards, who has compliance interfaces, and who has liquidity.
Data also confirms this. The top ten categories of on-chain RWA assets total about $38 billion, with U.S. Treasuries at $14.6 billion accounting for 38.4%, commodities at $5.15 billion, and stocks at $3.61 billion. The most mature demand remains cash management and low-volatility yields, with USDT and USDC having the largest individual scales.
So, "RWA getting busier" does not mean "all RWA will rise." Those with real underlying assets and compliant custody will attract institutional money; those with issuance but no application will gradually lose attention. $ONDO is worth following for issuance standards and channels, not sentiment.比特币今天短线偏震荡，反弹别急着看高，先别把反抽当反转。以太坊更弱，卖盘占上风，反弹后还有回落压力。觉得分析有帮助，记得点个关注、点个赞，你的支持就是我持续更新的最大动力。 比特币近12小时低点在79,709.50，高点在81,434.40。比特币公开表态里看多的人明显更多，可公开成交里卖出金额更重，这就是眼下的矛盾。看多声音能托住情绪，却未必托住价格。近期价格从区间上沿滑到下沿附近，又被买回，说明低位有人接，但买盘没有连续占优。个别大额成交还在加空，同时也有减空买回，方向并不齐。接下来就看下沿附近能不能接住，以及反弹能不能带量站上区间中部。人多未必能托价，成交更诚实。 以太坊近12小时低点在2,293.93，高点在2,368.31。以太坊的卖压更直接。反弹更容易被卖单压回去。公开成交里卖出金额明显压过买入，买盘没有形成连续承接。价格从近期区间上沿回落后，只在下沿上方反抽，力度不算强。那条看多观点只是转述大账户的多单，不能当成现货买盘，也覆盖不了眼前的卖出成交。短线若下沿附近接不住，回落会更顺；反过来，只有买入成交转强并站回区间中部，反弹才像样。现在说它转强，证据不够。 先看下沿能否接#美联储维持利率不变，12月加息分歧升温
On October 29 Beijing time, the Federal Reserve maintained the federal funds target rate range at 3.75% to 4.00% with 10 votes in favor and 2 against. This is the first pause since the rate hikes resumed in September, but it does not indicate a policy shift.
The dissenting votes came from Governor Cook and Cleveland Fed President Mester, both advocating an immediate 25 basis point hike. Cook cast his first dissenting vote in office, signaling that internal FOMC disagreements over the pace of tightening have entered the voting record.
Inflation still does not support the Fed stopping. September CPI rose 3.7% year-on-year, core CPI rose 2.6%, both higher than previous values; PPI rose 6.3% year-on-year. Chair Powell reiterated that inflation still faces a "sixth year of overshoot" and clearly stated no forward guidance would be provided, refusing to predict the future path. On the employment side, cooling appeared: September nonfarm payrolls increased by only 29,000, and the unemployment rate rose to 4.2%, providing the Fed a window to wait and see.
Market consensus still expects a 25 basis point hike in December. FedWatch shows the probability of a December hike after the meeting is 83.1%, only slightly down from before the meeting. Institutions like CICC and Goldman Sachs also expect action in December, then continued observation.
However, "high probability" does not mean "set in stone." Rising US Treasury yields and mortgage rates, refinancing pressure on commercial real estate, and other financial stability constraints may limit further tightening space. The core signal conveyed by the October decision is: the tightening bias has not reversed, but policy certainty has decreased, and data dependence has been pushed to the extreme.BTC's net ETF inflow this year is almost zero, yet the price has only dropped about 7%! Is the selling pressure on Bitcoin really easing?
On October 29, CryptoQuant founder Ki Young Ju pointed out a noteworthy phenomenon: since the beginning of this year, Bitcoin ETF net inflows have been close to zero, but BTC's cumulative price decline is only about 7%.
What makes this data interesting is that the ETF, an important incremental buyer, has not shown significant activity for now, yet Bitcoin has not experienced the sharp decline some investors expected. In other words, the market has lost an important buyer, but the price remains relatively resilient.
Ki Young Ju believes this may indicate limited large-scale selling pressure from early holders and miners, or it could mean some investors who originally intended to sell have already reduced their holdings. If this assessment is correct, the market might be going through a phase where new buying is weak, but the active selling force is not as large as imagined.
However, caution is necessary here. **Price resistance to decline does not equal confirmation that no one is selling coins.** Net ETF inflow close to zero only indicates limited net fund changes through this channel; it does not mean there are no other buyers in the entire market, nor can the true scale of selling by early holders or miners be inferred solely from the price drop.
Next, there is a key variable: the policy and market uncertainty brought by the U.S. midterm elections.The PCE data will be released at 8:30 PM. From an intuitive perspective, this data doesn't look optimistic. For specifics, you can refer to the CPI and PPI data from two weeks ago, both leaning hawkish and hot narratives. After all, high oil prices have persisted for so long, especially diesel prices which affect the US logistics industry and eventually pass through to consumer goods, making it really hard to suppress.
However, thanks to the previous high CPI and PPI data that have already caused two waves of market shocks, as long as today's third wave isn't too extreme, the market can actually withstand it. It might even turn a disaster into a blessing if it's not ridiculously bad.
Currently, the market expects September core PCE to be 0.3% month-over-month and 3.1% year-over-year; overall PCE to be 0.5% month-over-month and 3.6% year-over-year. Against the backdrop of high oil prices, as long as the final published value is less than or equal to expectations, it's a victory (provided they aren't playing decimal rounding games).
If the PCE data is unexpectedly mild and dovish, the possible breakthrough point might occur in the handling of the airline ticket weighting coefficient conversion. In any case, when the data is released, you can quickly check whether the core monthly rate is 0.2% or 0.3% to judge the heat level. #美联储维持利率不变，12月加息分歧升温 📉 After Google's (GOOGL) earnings report was released, it faced a significant sell-off, with the stock price dropping from $328.04 to $288.22. Market sentiment quickly weakened, and retail investors' panic intensified. But what truly deserves attention is the different choices made by capital during the decline. 🐋 According to raw data, there are 19 accounts on Hyperliquid increasing their long positions in GOOGL, with a total scale of about $20.56 million. While the market is still digesting the impact of the earnings report, some large funds seem to have already started looking for potential rebound opportunities. Does this mean a bottom is forming? It's too early to conclude. 🔎 Next, focus on three signals: - Earnings impact: Is the market digesting short-term performance pressure, or reassessing Google's future growth expectations? - Capital movement: The increase in long positions is noteworthy, but it must be judged in conjunction with position changes, liquidation risks, and subsequent price trends. - BTC correlation: If the overall risk appetite in the crypto market declines, BTC's trend may also affect capital sentiment; if BTC remains strong, observe whether this divergence can continue. ⚠️ Remember: Large funds opening longs does not mean the price will immediately reverse, and an increase in positions does not mean these accounts are already profitable. Real opportunities require price confirmation, not just betting based on whale movements. Do not blindly bottom-fish, nor be driven by panic. Pay attention to capital flows and wait for the market to provide answers. #GOOGL #BTC #HyperliSisters!
The most dangerous thing about this $ETH drama is not that it has fallen, but that after it falls, it tries to lure the bulls back with a few rebound candlesticks!
It surged to 2391 earlier, then dropped back to 2292. In such a short market move, whether chasing the rise or bottom fishing, anyone can get confused and lose direction!
Now ETH is back around 2319, the 15-minute MACD histogram has turned positive again, indicating short-term repair, but the price has not yet reclaimed the previous high near 2390.
Regarding the October Federal Reserve meeting, the result is out: interest rates remain at 3.75%–4%, but two voting members advocated for a rate hike, and the statement emphasized that inflation remains high.
A pause in rate hikes does not mean a shift to easing; future policy still carries uncertainty. Whether December will see further tightening depends on inflation and economic data.
This is what I am cautious about now: the market may treat "no rate hike for now" as good news but overlook that the hawkish signals have not disappeared.
If optimistic expectations are prematurely priced in, once subsequent data disappoints, risk assets may come under pressure again.
Next, focus on the rebound resistance between 2330–2340 and whether the previous low at 2292 will be tested again.
If the rebound is blocked, watch for shorting opportunities.
Sisters, don’t treat the pause in rate hikes as risk being cleared!
I maintain a bearish bias but do not blindly short.
$BTC
$ZEC
#美联储维持利率不变，12月加息分歧升温 $AXIS
AXIS dropped from 0.2235 to a low of 0.1312 within 24 hours, now at 0.1366, down nearly 39%. Okx perpetual contracts traded over 36 million USD in one day.
The numbers are even more interesting: total supply is 1 billion tokens, but only 165 million are circulating, with a market cap under 30 million USD, yet the fully diluted valuation is listed at 180 million. The trading volume is more than three times the market cap; this isn’t just turnover, it’s a queue to exit. The funding rate has turned negative, open interest is only 2 million USD, the liquidity is pitifully thin, and a few sell orders can push the price down by ten percent.
The peak of 0.37 was just a short while ago, with many profit-taking positions on board. 84% of the tokens are still locked up in warehouses, and every rebound is a selling window for them. I don’t touch this kind of token; I’ll consider it again when the circulating supply doubles after a crash.
#美联储维持利率不变，12月加息分歧升温 #Google Q3 revenue growth, net profit decline, and earnings per share below expectations
My view is: the core contradiction in Google's earnings report is not insufficient revenue growth, but whether profits can keep pace after continuous AI investment.
Revenue growth shows that Google's core business remains resilient, but the decline in net profit and earnings per share below expectations also reflect the market's increasing demands for profit quality and cost control.
Especially in the context of intensifying AI competition, Google needs to find a balance between search advertising, cloud business, and AI infrastructure. AI may indeed open new growth opportunities, but computing power, data centers, and R&D investments will also bring huge cost pressures.
Going forward, I am more focused on three aspects:
1. Advertising business: Whether search ads can maintain growth determines the stability of Google's foundation.
2. Cloud business and AI commercialization: Whether AI investments can be converted into actual revenue, not just increased capital expenditure.
3. Profit margin and cash flow: Whether revenue growth can ultimately translate into profit is the key to judging long-term value.
My conclusion is: we cannot be bullish just because of revenue growth, nor bearish simply because earnings per share fall short of expectations.
In the short term, disappointing earnings may pressure the stock price; in the long term, what truly determines Google's valuation is whether AI can continuously generate revenue and whether profitability can keep up with investment.
In the AI era, the market is not short of growth stories, but lacks profits that can be realized. $BTC Ethereum ETFs are approaching an unpleasant historical record: a net outflow of about $1.32 billion since October, just about $100 million short of the $1.42 billion record set in November 2025, with only a few trading days left. Meanwhile, Bitcoin ETFs have quietly been attracting funds, with a net inflow of $137.3 million just yesterday, of which IBIT contributed $136 million.
1. What has changed?
Funds are choosing BTC over ETH. ETH ETFs have seen net outflows for three consecutive days, with ETHA alone seeing a single-day outflow of $44.8 million; Bitcoin ETFs have accumulated about $424 million in inflows over the past three trading days.
2. Why is this noteworthy?
BlackRock is simultaneously using IBIT to capture BTC buying demand while transferring nearly $200 million in ETH to Coinbase within two days. The same issuer is making distinctly different moves on these two major assets. This is not retail sentiment; it is institutional money making a choice.
3. Which market observation is currently more supported?
The data supports the view that ETH is temporarily weaker than BTC at the institutional allocation level, rather than a full bearish outlook. Whether the tokens transferred on-chain to exchanges are actually being sold as real selling pressure, and whether the October outflow record will ultimately be broken, are the key confirmation signals to watch in the next two days.
If the record is indeed broken in the last three days, the story will become hard to ignore. Feel free to discuss in the comments whether you think ETH is being unfairly punished or if this is justified. $ETH $UNI The current ledger of UNI simply can't withstand detailed scrutiny.
The official issuance budget is 20 million tokens, and even if all the burned tokens are included, there is still a net inflation of 8 million tokens for the whole year.
Additionally, the recent protocol fee output is also declining.
The buying pressure was weak to begin with, and now it can't absorb the daily new tokens being released.
Buyback and burn is just for show, the issuance budget is the real deal. Without new external money coming in, the excess tokens can only be forcibly dumped onto the market, and the continuous downward drift is not without reason.
#UNI
$UNI
👇#Google Q3 revenue growth, net profit decline, earnings per share below expectations Data as of 17:40 on the 29th: Bitcoin 80,094, down 1.7% in 24 hours, intraday low 79,883; Ethereum 2,318 down 2.3%; among the top ten by market cap, only TRX remains unchanged. In the past 24 hours, about $356 million worth of long positions in crypto contracts were liquidated—not retail small orders, but those leveraged positions hanging in the air waiting for a rebound. First, why I consider this earnings report relevant to crypto. Q3 revenue grew, but profit dropped and earnings per share missed expectations; these two facts together have only one explanation: computing power procurement and depreciation are eating into the profit statement. This is the common ledger for the entire AI trading sector. Another large-scale company pushed cloud business growth to 48% in the same period, which also means capital expenditures will continue to increase. The market used to buy into revenue growth, but now it’s starting to ask who is paying this money and when it will return. In the same week, tech stocks led by Samsung plunged, triggering this round of risk aversion; silver fell about 56% from its January high, hitting the lowest point of the year. Even safe-haven assets are being sold, indicating that what is lacking now is not a story, but liquidity. The question of where the money comes from has played out historically. Before the Nasdaq peaked in March 2000, telecom operators borrowed to lay fiber optics, equipment vendors had orders booked two years ahead, Cisco’s market value peaked that month, then dropped 80% over the next year. Orders followed capital expenditures, and capital expenditures followed financing, financingIt's been a day since the resolution was implemented, no clear direction yet, but the K-line is starting to tell a new story
First, look at $BTC lows: 79220, 79377, 79505, today 79709. Over the past week, each pullback bottom has been moving higher. Now look at the highs, from 84899 down to 81820, each time lower than the last
The support below is moving up, the resistance above is moving down, the two plates are slowly tightening. This is not calm, it's compression. The tighter the spring is squeezed, the stronger the rebound will be
There might be some movement tonight. Amazon's earnings report after market close, previously Google’s profit declined, Microsoft Azure exceeded expectations. The sentiment of tech stocks is all hanging on this AWS shot. If it’s good, risk appetite could push BTC to test the upper boundary. If it fails, this squeeze might break downward directly
So don’t be fooled by the boring market now, tonight is not the time to watch a show, it’s the time to watch the lines
The positions remain the same: above 81800 to 82000, below 79200 to 79700. Whichever side breaks out with volume first means the squeeze is broken. Follow that move, don’t bet heavily within the range
If you think the direction will come out tonight, press 1; if you think it will grind longer, press 2
#美联储维持利率不变，12月加息分歧升温 $AMZN $ETH #Pratinjau Laporan Keuangan Palantir: Apakah Pertumbuhan Tinggi Bisa Mendukung Penilaian Tinggi Palantir will announce its Q3 financial report after the US stock market closes on November 2, with the exact date pending official confirmation. Previously, Q2 revenue grew 93% year-over-year, US commercial business increased 149%, and the company subsequently raised its annual revenue guidance. In the context of high valuation, can Q3 orders and revenue continue strong growth? yuumi report: Microsoft's earnings report caused the after-hours price to briefly approach +6%, now hovering around 550. Azure's quarterly revenue is about $33.2 billion, up 48% year-over-year, and next quarter they still dare to forecast growth of 49%–50%. Revenue of about 92.3 billion also exceeded expectations. However, free cash flow dropped about 30% year-over-year, commercial bookings fell 12%, so strong revenue realization doesn't necessarily mean orders can catch up. Google's next door just took a hit, so don't treat this as a victory declaration and rush in here.
$MSFT #微软Q1营收增长，Azure增速至48%超预期 $AXIS top 10 holdings changed from 97.28 three hours ago to 96.6, with one top 10 holder address selling nearly 10 million tokensTonight at 20:30, the US September PCE data will be released 👀
Core PCE monthly rate is expected at 0.3%, previous value 0.2%, annual rate expected to rise from 3.0% to 3.1%
Last night, the Federal Reserve just announced it will keep interest rates unchanged, and among the 10 voting members, 2 supported a rate hike, showing a clearly hawkish stance
If the core PCE exceeds expectations, it indicates that inflation stickiness may be stronger than the market imagines, giving the Federal Reserve more reason to turn more hawkish, which is not good news for $BTC, gold $XAU, and US stocks
Conversely, if the PCE is below expectations, market concerns about monetary policy may ease, and risk assets could see a rebound
If economic growth remains strong and inflation does not come down, the Federal Reserve may really have little room for easing in the short term
After tonight's data release, I will first observe the reaction of US Treasury yields and the dollar, then see how BTC and gold move
After all, what the market fears most now may no longer be an economic recession, but inflation that won't come down
#美联储维持利率不变，12月加息分歧升温 I think in the short term, attracting buying interest, memes are often easier than technical narratives. Once you get the meme, you can spread it; technical projects still need to explain what problems they solve and who will actually use them, which sounds mentally taxing.
But I also don't think that just because a dog coin is popular, it will easily rise. A screen full of memes might just be the same group of people hyping each other up, with not many new buyers. Even good technology doesn't necessarily get immediate recognition, which is quite frustrating. If developers spend a long time explaining but a dog picture works better, then who should actually present at the roadshow?10-year US Treasury yield at 5.02%, US Dollar Index at 102.1, December rate hike probability at 85% — these are the three tightening constraints the FOMC has placed on risk assets. Tonight at 20:30, the US September Core PCE Price Index will be released. The market is not waiting for direction, but for whether it "hurts enough." BTC: Money has returned, leverage has not. Current price around $81,260, US spot Bitcoin ETF net inflow of $176 million on October 27, marking the second consecutive day of inflows. However, when the price rose 2.3%, open interest contracts fell 0.1%; funding rate at 0.0090%, close to the baseline, not crowded. In the past 24 hours, short liquidations accounted for 75.3%. The price rise is due to short covering, not new money. 📈 Conditional: If the core PCE year-on-year exceeds expectations, the $81,000–$80,000 range is likely to be quickly retested; ETF inflows can only provide support, not independently drive the trend. ETH: Institutions are withdrawing, old holders are selling. Current price around $2,331, down 13.6% since October, pointing to the worst October since 2018. US spot ETH ETF net outflow about $1.35 billion this month, the second largest monthly outflow in history; 17 out of 20 trading days have seen outflows. Meanwhile, long-dormant early wallets have cumulatively transferred about 56,000 ETH to Coinbase and Kraken, with foundation-related addresses also moving funds. Funding rate only 0.0022%, so cold that almost no one is willing to pay for longs. 📉 Conditional: 2,250 Conclusion first: OKX officially announced a new round of XDP trading rewards this afternoon, with a prize pool of 15 million tokens. The rules have changed: only perpetual contracts count, and an additional ANTHROPIC pair is included.
Let's look at the money. XDP's current price is 0.0193, and 15 million tokens equate to about 290,000 USD, accounting for 1.5% of the circulating supply. Within a month, OKX has already launched three rounds on XDP: 20 million spot tokens on 9/28, 20 million Wallet phase 2 tokens on 10/12, and today 15 million perpetual tokens, totaling 55 million tokens, roughly 5.5% of the circulating supply, with rewards credited before 11/6.
The threshold is not low: a single account must have a trading volume starting at 5000 USDT, with a cap of 50,000 tokens, distributed proportionally based on effective trading volume. XDPUSDT has a 1.2x token multiplier, ANTHROPICUSDT only 1.0x, and the first two days also stack a 1.3x early bird multiplier.
But depth is worth noting. The combined top 20 buy and sell orders for XDP perpetual contracts total less than 400 USD; ANTHROPIC is Anthropic's pre-IPO equity perpetual contract without spot backing, with about 5000 USD depth across 20 levels. Setting the threshold at this depth means slippage will be a factor.
Will you be trading XDP or ANTHROPIC, or wait until the rewards arrive on 11/6 to see the selling pressure? $XDPThe Federal Reserve will reduce the number of interest rate decisions starting in 2027. I think this is somewhat neutral, even slightly positive. $BTC $ETH $SNDK
Wash said this time that there will still be 8 meetings per year, but in 2027 there will be 1 meeting dedicated to discussing long-term strategy, with no voting or statements issued; by 2028, these strategic meetings are expected to increase to 2, and the number of interest rate decisions will drop to 6.
In other words, it means cutting down on "meetings just for the sake of meetings" formalities and leaving time for thinking about the long-term framework, which is a sound direction.
In the short term, the impact on the market is limited, but as the intervals between meetings lengthen, each decision will carry more weight. If data suddenly changes in between, volatility might actually increase.
The core logic for trading remains unchanged: keep a close eye on the actual path of interest rates and don’t get hung up on the fact that there are fewer meetings. #美联储维持利率不变，12月加息分歧升温 #谷歌Q3营收增长，净利润下滑、每股收益不及预期 #微软Q1营收增长，Azure增速至48%超预期 $BTC Big bro Maji's three short positions in BTC, ETH, and SOL are all currently at a floating loss. As the market moves up, the funding fees can only recover a bit. Looking at the positions alone is quite painful, but when viewed in the overall account ledger, it's a different story.$GOOGL $BTC
Google plummeted after releasing its earnings report, retail investors panicked, but big players started bottom-fishing
After the earnings release, GOOGL plunged, with the price dropping from 328.04 to 288.22 USD
Interestingly, while the price was crashing, big players on Hyperliquid began to go long, with 19 accounts adding long positions totaling about 20.56 million USD
This is intriguing! On one side, the stock price is crashing and market sentiment is weakening 不爱画饼的谷歌，起势的「全栈 AI」，撞上了只认数字、不看未来的「坏时候」 。 撰文：Frank，MSX 麦通 隔夜美股盘后，谷歌母公司 Alphabet 财报出炉，股价一度暴跌逾 10%，几乎回吐过去大半年的涨幅。 只看快讯推送里的几个刺眼数字，谷歌的天，真的要塌了——搜索与广告业务全线低于预期，自由现金流更录得惊人的「负 91 亿美元」（市场预期约负 35 亿美元），AI 巨额资本开支的压力，似乎要把现金奶牛给啃穿了。 但如果把整场财报电话会的实录翻完，再对照前不久《Gemini 4.0 强到「刷屏」，Google 的 AI 反攻，来了？》里拆解过的长线逻辑，大概率会发现，这份财报远没有股价表现出来的那么悲观：谷歌的老业务确实出现了减速，但新业务的进展也比很多人想象中更猛。 这一波大跌，与其说是基本面崩盘，不如说是一场典型的「转型期误杀」。 这让笔者想起此前微软在云与 AI 转型过程中，市场围绕短期业绩、资本开支和长期回报反复定价的那些时刻。 谷歌就恰恰也撞上了这样一个只认当期数字、不愿为未来买单的「坏时候」。 一、拆解「爆雷」财报：是基本盘失速么？ 先把市场最恐慌的几个「雷点」摊Headline: The Fed "didn't raise rates," but why can't Bitcoin rally?
FOMC maintained the interest rate at 3.75%–4.00% with a 10:2 vote, while Governor Cook and Cleveland Fed President Hammack advocated for a 25BP hike;
The statement upgraded the economic wording from "solid" to "strong," Chair Waller said price stability has not yet been achieved, and clearly stated that no further forward guidance will be given unless a crisis occurs.
Three suppressing factors:
The no-rate-hike was already priced in (about 90% market expectation before the meeting), so the news brought no incremental positive impact;
The probability of a rate hike in December jumped from 75% to 81%–86%, with the market already betting on another 25BP hike on 12/9;
The 10-year US Treasury yield rose above 5%, the 2-year yield once hit 4.78%, and the dollar approached its yearly high—holding US Treasuries yields 5% interest, while non-yielding BTC is being neglected.
On the funding side, the US BTC spot ETF saw net inflows of about $286 million combined on 10/26 and 10/27, but $774 million just flowed out on the 22nd–23rd, and the gap has yet to be filled.CryptoQuant founder Ki Young Ju's latest analysis reads a positive signal from ETF capital flows 📊
He points out:
Since the beginning of this year, net inflows into Bitcoin ETFs have been close to zero, yet BTC price has only dropped about 7%
What does this "price resilience" indicate?
He believes: With limited ETF demand, the price remaining relatively stable means the likelihood of large-scale sell-offs by early holders or miners is low — some investors who intended to sell may have already completed their reductions
Expectations going forward:
He anticipates that once uncertainties related to the U.S. midterm elections subside and ETF funds flow back in, Bitcoin's upward momentum may resume
Ki Young Ju focuses on the outcome indicator of "whether the price has sharply dropped due to selling pressure," rather than simply looking at the absolute numbers of capital flow. If ETF inflows are nearly zero this year but the price decline is relatively limited, it can indeed be inferred that selling pressure is not as large as imagined. However, this judgment is more of an optimistic speculation that the "clearing of existing holdings is nearing completion." Whether this will materialize depends on whether ETF funds truly flow back in as expected.The whole Hormuz drama is just a scheme, don't be fooled
The Hormuz 7-day plan looks lively, but it's actually an extreme tug-of-war; $BZ oil prices simply can't fall deeply. The core issue is not whether the strait is open or not; the pricing logic of crude oil has completely changed. Don't be fooled by the fact that the strait's flow is almost back to pre-conflict levels; oil prices stubbornly hold above 110. Why? Because the market fears not a shortage of oil, but the surge in freight and insurance costs. There aren't enough oil tankers, and delivery costs have been forcibly pushed up. Global inventories have bottomed out, strategic reserves are empty, so crude oil can't fall in the short term, and this inflation fire won't be extinguished. UBS raising its forecast is a slap in the face to the pessimists.
Look at $XAUT gold's crazy shakeout around the 4000 mark; this is textbook liquidity stampede. After gold prices surged, programmatic stop-losses were triggered by data fluctuations, and leveraged funds were instantly liquidated, breaking through the level within half an hour. But after the drop, market makers and physical buyers immediately stepped in, pulling it back within minutes. This is not a trend reversal; it's old bulls closing positions and new bulls opening positions calling each other fools, clearing floating profit chips. As long as inflation stickiness remains, the December rate hike sword will always hang overhead.
Look at $BTC, macro high interest rates are tightly suppressing it, and there's no fresh liquidity off-exchange. Don't chase highs now; long-term bullish but short-term must guard against pullbacks. Shorting for the short term means shorting, stop-loss must be firmly set; don't stubbornly hold and turn it into a loss, no stop-loss is just giving money away.
Don't be dazzled by negotiation news and gold's deep V-shape; the trump card for oil prices has shifted from production to freight costs. #霍尔木兹重开方案浮现，油价回落能否持续？ Don't be fooled by headlines like "VanEck and Franklin both launch BTC ETFs" — these old money players aren't here to pump the market; they're quietly "covering their tracks."
WBMO targets a 2% position, fluctuating between 1%-5%; Franklin is even sneakier, backing 95% in US stocks and automatically buying BTC when dividends arrive. In plain language: this is slow money on a monthly dollar-cost averaging level, not the kind of fast money sweeping billions daily like the 2024 spot ETF.
Looking at the market makes it clear: BTC is just above $80,000, having steadily declined from $84,000 on the 19th; ETH is weaker around 2310, dropping over two points today, while the BTC/ETH ratio quietly strengthens. Funds are shrinking into BTC, altcoins are being abandoned — this is institutional portfolio adjustment sentiment, not a bull market kickoff.
That 2%-5% position from old money corresponds to bottom-support buying over the next six months to a year, not a bullish candle tomorrow. In the short term, don’t expect WBMO’s launch to immediately free you from losses; watch two numbers: whether BTC holds $78,000 and whether ETH breaks 2200.
The bottom support is real, but don’t expect a pump just yet. $BTC $ETH #VanEck与富兰克林推出含BTC配置的新型ETF Xiaomi's “Valuation Anchor”: When the Electric Vehicle Halo Meets a Capital Cold Wave
Xiaomi's stock price in today's Hong Kong market is undoubtedly the most "conspicuous" casualty.
As the Hang Seng Tech Index retreated by -1.5% overall, Xiaomi led the tech stocks with a decline of -4.61%, closing at HKD 25.66. Intraday, it once dipped to a low of HKD 25.52; although it slightly recovered near the close, the closing price still hovered near the day's low. This "bare-footed bearish candle" pattern often leaves investors more unsettled than a simple plunge—because it means that until the very last second of trading, sellers maintained absolute dominance, leaving bulls powerless to fight back.
Tokens related on OKX also faced pressure, dropping to 3.245, running close to the lower bound of the 24-hour range. This cross-market synchronized decline indicates that market sentiment is not just panic but a kind of confusion about the future.
This is not a "Black Swan"; this is a "Gray Rhino."
First, it must be clarified that today's heavy blow was not caused by any sudden shocking negative news from Xiaomi itself.
It is more like a long-planned "valuation correction." We must note that as early as October 22, Xiaomi had already recorded a bearish candle of -3.73%. Today marks the second consecutive large bearish candle with an expanded decline. This shows that capital is withdrawing in an orderly manner, or rather, the market is conducting a brutal "stress test" on Xiaomi's pricing logic.
Victory and defeat both lie with Xiao He: The two sides of the electric vehicle story Before BTC confirms a rise, altcoin rallies basically rely on strong sentiment support, and most eventually fall back; $NEAR and $BCH are examples. PEPE is still at a high level, not because it's stronger, but because Justin Sun hoarded about $51.25 million in 10 days, and the 2.27 trillion tokens transferred out by a whale were also bought up by buyers. Large holders control 94.66% of the supply, so someone is buying at the high.
But the quality of support is deteriorating: the resistance is at 0.00000510-0.00000520 above, and the RSI at 66.79 is close to overbought. PEPE supply on exchanges first decreased then increased; some took advantage of the rebound to move coins back, indicating potential selling pressure is accumulating.
Therefore, in the short term, it is more resilient than NEAR and BCH, but holding up does not mean no further drop. If BTC continues to consolidate or decline, the drop is just a matter of time. Only if it can break and hold above 0.00000520 with volume, will it be a true breakthrough, depending on whether those buyers are willing to keep buying. $PEPE This crappy toy company is really disgusting, damn disgusting to the core!
Shorting other coins is for profit, but shorting this thing is basically donating blood to the dog whales!
The funding rates have numbed me; every day they take our short sellers' money to give benefits to the bulls. I'm almost drained dry by this extreme positive funding rate!
Bro, I totally understand how you feel right now.
Seeing my account not only not making money but also being charged 5.7U in funding fees, plus a -118% floating loss, it really makes me want to kill.
These dog whales rely on controlling the market tightly, using funding rates to wear us down.
$UNITREE was pulled up to 104.24 last night, did you see that long upper shadow?
That's the limit it could reach! And today?
It’s been steadily dropping, now down to 95.45, nearly a 2% drop for the whole day.
What does this mean?
It means it simply can’t be pushed up anymore!
The dog whales distributed all their chips above 104, now they’re slowly grinding it down.
The so-called "Embodied Intelligence Pilot Base injected 20 million yuan" news is purely a smokescreen to facilitate selling.
This thing has completely weakened; the moving averages are like high-pressure lines suppressing it, and each rebound is weaker than the last.
It’s like a grasshopper after autumn, it won’t jump for many more days. If you chase longs now, you’re just a pure bag holder.
Don’t be scared off by the small funding rate, hold your short positions tight.
The dog whales are in their last frenzy; once this wave of sentiment is exhausted, breaking below 90 is just a matter of time.
Let’s fight to the end and see who outlasts whom!
$BTC
$ETH
#美联储维持利率不变，12月加息分歧升温 Where is the biggest bet on $SPCX? What impact would a Democratic victory in the upcoming midterm elections have on SPCX?
If the Democrats win the midterms, the first to be liquidated would be Marx's enterprises. Tech stocks would collectively come under pressure, and the market values of SPCX and Tesla would rapidly decline.
Also, regarding how SPCX secures government contracts and other reasons, Marx heavily supports the Republican Party, having donated a total of $446 million.
In the short term, Chaige leans bearish after the midterms because the subsequent Anthropic IPO on Nasdaq could drag down the storage and AI sectors.
Based on Chaige's extensive experience, stocks with high hype usually fall right after going public.
#美联储维持利率不变，12月加息分歧升温 #谷歌Q3营收增长，净利润下滑、每股收益不及预期 #微软Q1营收增长，Azure增速至48%超预期 Losing $0.15 is still good news: Coinbase reports Q3 after market close tonight, last year at the same time it earned $1.44.
Market expects revenue of $1.2 billion, down 36% from $1.87 billion last year.
Last quarter it already shocked: expected to earn $0.14, actually lost $0.39, stock dropped 10.6% the next day.
Interestingly, the earnings expectations themselves conflict: consensus is a loss of $0.15, but the most accurate forecasts predict a gain of $0.07.
The stock price has already fallen: closed at $162.32 on October 28, down about 27% year-to-date.
I think tonight's focus is not on profit or loss, but whether trading volume has stopped bleeding and if subscription revenue can hold up; observing, not chasing.
The failure point is revenue falling below $1.2 billion and subscription revenue also declining, then the "platform transformation" narrative is invalid.
Do you think tonight will be an earnings surprise correction or confirmation of three consecutive losses?
$COIN $BTC
#Coinbase #EarningsReport