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1. AMD's earnings report tonight has a 90% probability of "numbers exceeding expectations," but there might be another sell-off after hours.
It's not that I'm bearish; the chip structure has changed.
Market consensus:
Revenue 13.09 billion (YoY +41.5%)
EPS 1.95 (YoY +62%)
Data center expected at 8.2-8.3 billion, continuing a doubling surge
In Q2, data center revenue already reached 6.7 billion, accounting for 58% of revenue. AI chips (MI350/MI450+Helios) and EPYC are the core drivers. EPS has beaten expectations for the past 4 quarters, so this "on-paper beat" is almost certain.
However—the stock price dropped 26% in 10 days, from 658 to 466, indicating the market is not satisfied with just a "passing grade":
What the market wants is Lisa Su to clearly address three things👇
Whether the 2027 data center "more than doubling" can be quantified (sell-side expects 74-75 billion, buy-side bets 80-90 billion)
Whether Helios rack shipments will truly ramp up in Q4 or remain just promises
Whether TSMC N2 + HBM capacity will be a bottleneck or not
Conclusion:
Numbers: exceed expectations (confidence 90%)
After-hours trend: guidance not aggressive enough → good news fully priced, expect continued shakeout
The real explosive point: only if "2027 guidance upgrade + major customer GW-level deployment" happen simultaneously will the current valuation be justified#AMD财报前瞻：HeliosAI系统商业化进展 $PLTR 调整后每股0.44，GAAP也是0.44，一致预期0.41。前瞻里说，这家的调整后连SpaceX的涨跌都算，名义税率又跟实际交的差得远，GAAP跟调整后会差不多，这次两个数一模一样。 账对一下。前瞻粗算SpaceX这季要倒扣每股0.6分钱左右。实际其他收入一整行是负2,578万，按23%扣税摊到每股，粗算0.8分左右，二季度这一行还是正9,184万。调整后营业利润14.27亿，比指引上限12.96亿多了10.1%，前瞻说超5%就够。费用其实比指引隐含的多花了一点，8.87亿对8.68亿，营收多出来的部分盖住了。 美国商业营收9.84亿，第一次超过美国政府的9.53亿。前瞻里说，三季度这一行要是不到9亿，四季度就得做到11.65亿以上，这一关过了。全年美国商业指引又提到35.59亿以上，前三季做了23.43亿，四季度至少要12.16亿，比三季度再多两成多。 正股收在178.34，美东18点20分左右盘后到172.50，跌了3.3%，没领这份成绩单的情。☀️ 大叔早报｜11.03 🪙 Crypto｜BTC跌破77,000，风险偏好仍在承压 BTC报约76,700美元，日内跌幅约1.4%—1.7%，24小时低点在76,500美元附近。 大叔观点： BTC走弱与美股科技股承压发生在同一个风险偏好收缩窗口，但不能简单归因于苹果财报。短线先看76,500美元能否守住，失守再观察75,000美元附近的承接。选举前，仓位管理比猜方向更重要。 🇺🇸 美股隔夜｜苹果双超预期，市场仍在追问增长质量 苹果FY2026 Q4营收约1,145亿美元，同比增长约12%，EPS 2.10美元，均高于市场预期。但EPS中包含约0.05美元关税退款收益，毛利率47.9%也受到关税退款提振。苹果股价盘后先跌后有收窄，不能简单概括为最终跳水。 美股收盘分化：道指**+0.41%，标普-0.51%，纳指-1.07%，费半-3.37%**。半导体和AI相关个股承压，Lumentum、迈威尔、英特尔、AMD均出现明显下跌。中国资产相对抗跌，阿里巴巴上涨。 大叔观点： 这轮AI交易正在从“有没有增长”，转向“增长能否持续、投入能否兑现利润”。苹果的业绩并不差，但关税退款对Has $OKB OKEx exchange ever had coins stolen in its history?
Conclusion upfront: There is no conclusive public record of a "vault-level" coin theft incident on the OKEx/OKX main trading platform; however, it has experienced several "related security incidents" in its history, each of a different nature and should be considered separately.
1. The most easily confused 2020 "withdrawal suspension" — not a theft
On October 16, 2020, OKEx suddenly suspended all withdrawals for about 5 weeks, causing widespread panic in the market.
Reason: Some private key holders cooperated with public security investigations and were temporarily unreachable, making multi-signature authorization impossible.
Nature: Private key management/centralization risk, not a hacker breach of the system.
Result: Withdrawals resumed at the end of November; the official statement claimed reserves were always 100% sufficient.
⚠️ This incident is often mistakenly reported as "OKEx was hacked," but it is completely different.
2. Actual "coin loss" related incidents
1. August 2020: ETC 51% attack indirect loss
Attackers controlled Ethereum Classic network hash power to perform double-spend deposits on OKEx, stealing about $5.6 million ETC.
This was a chain-level 51% attack, not a hack of OKEx wallets.
OKEx blocked the attacker’s addresses, suspended ETC deposits and withdrawals, and absorbed the loss themselves.
2. December 2023: OKX DEX aggregator contract compromised
The private key of the abandoned DEX market maker contract’s proxy admin leaked; attackers upgraded the malicious contract and transferred assets from 18 authorized addresses.
OKX official statement: user asset loss about $370,000, fully compensated.
Third-party estimates (PeckShield, etc.): up to about $2.7 million.
Note: The incident involved DEX product line contracts, not main exchange user balances.
3. June 2024: Individual user accounts hacked
Multiple users’ assets were emptied; investigation found forged judicial investigation documents were used to obtain customer personal data, then bypassed risk controls to change binding verification methods.
This was social engineering plus process loopholes, not an on-chain vault breach.
OKX subsequently compensated users and improved facial recognition and judicial cooperation verification.
4. 2019–2020: Users exploited system bugs to "steal coins"
During a 2019 system malfunction, a user (Deng Mouming from Sichuan) exploited a pricing error to alter low-priced coins into BTC and withdraw them. OKEx later sued to recover losses worth millions. This was an internal logic flaw plus user misconduct, not an external hacker theft.
3. Industry position comparison
Exchange
Major historical coin theft
Bitfinex
$72 million in 2016
KuCoin
$285 million in 2020
Bybit
$1.46 billion in 2025
OKX/OKEx
No confirmed vault-level theft on main platform
Summary materials generally classify it as "no major user fund hacking incidents since 2017."
4. How to understand this conclusion
✅ What has not happened: Main exchange cold wallets hacked and billions in user assets wiped out overnight.
⚠️ What has happened: Chain-level attacks with collateral losses, DeFi/DEX contract permission leaks, account social engineering thefts, private key holder single point risks.
💡 The real risk lies in centralized governance: The 2020 withdrawal freeze shows that as long as private keys are centralized and key holders have issues, users cannot access assets in the short term. $AAPL 这季每股2.10，华尔街估1.98到1.99。新闻稿里写了，其中0.05是关税退款，扣掉也还有2.05，这次是实打实地超。前瞻里说每股超预期不难，难的是12月季度，两头都说中了。毛利率47.9%，含约1个点退款，剔掉是46.9%左右，比指引中值46.5%高了0.4个点，9月季度本身交得不差。 问题在下一季。CFO给12月季度的毛利率是45%到46%，华尔街平均估46.3%。把剔掉退款的毛利率排在一起看，3月季度49.3%，6月季度48.1%，9月季度46.9%左右，12月季度指引中值45.5%。前瞻里说，12月季度要是还比46.5%低，就是连着第三个季度往下走，指引给出来正是这样。12月季度的指引含不含退款，能找到的报道都没写，含的话剔掉以后还要更低。 营收指引反倒不差。12月季度给的是同比增7%到10%，LSEG汇总的预期是6.1%，服务给的是8%到9%。卖得出去，一块钱里赚到的越来越少，盘后的价格先算的是这一笔。正股收在338.32，美东18点20分左右盘后到328.52，跌了2.9%。$SOL has fallen below $95 again, currently priced at $94.80, dragging $ETH down with it 📉
A signal worth noting: although it broke below $95 again, this time it did not repeat the brutal 8.1% single-day plunge seen on October 30; the decline has clearly slowed down.
This means short-term selling pressure has not accelerated its release yet, and the market looks more like it is repeatedly bottoming after a big drop, with no new wave of panic selling emerging for now.
But don’t mistake this for stabilization! $95 is now a crucial dividing line. The key short-term focus is whether it can climb back above this level; if it fails to recover soon, the weak consolidation will likely continue to drag on. For SOL to truly stabilize, just a slowdown in the decline is far from enough — sustained buying support is necessary to hold the bottom.
#With the US midterm elections approaching, which outcomes are worth watching?
If the Republican Party wins the majority in Congress, expectations for crypto-friendly legislation will rise, likely sparking a wave of positive sentiment; if the Democratic Party controls both chambers, crypto regulation will probably tighten, putting pressure on the entire crypto market. The election results will directly influence the sentiment trajectory of risk assets in the near term, so be patient and wait for the outcome!
⚠️This is only a market review and does not constitute any trading advice
#With the US midterm elections approaching, which outcomes are worth watching? In this round of pullback, institutions may not be the main force dumping the market, but they best reveal the true attitude. Retail investors follow emotions, while institutions have to go through subscription and redemption procedures, slower but closer to the truth of the funds. When looking at ETF flows, don't just focus on direction; the key is to see whether redemptions are for portfolio adjustment, deleveraging, or withdrawal.
$BTC 🪙 On the first full trading day after the event, ETF net outflow was $643 million, the largest single-day outflow since the end of June; IBIT alone saw an outflow of $234 million. But the fundamentals remain: cumulative net inflow of 57.4 billion, net assets of 103.2 billion. It looks more like deleveraging, not liquidation.
$ETH 😮💨 Net outflow for the fifth consecutive day, losing $431 million in a week, with a cumulative outflow of 1.61 billion in October. In comparison, institutions have less patience for ETH.
$SOL 🌱 The ETF size is small, also with five consecutive outflows, only two days of net inflow this month; the cold start of the new product was abruptly interrupted.
The ETF narrative is not over, just the rhythm has been paused by the event. ⏸️ What to watch next is not emotional shouting but whether the nature of redemptions will change from "deleveraging" to "true exit." #美国中期选举在即，哪些结果值得关注？ #苹果新CEO迎来iPhone18首份成绩单 #Palantir财报前瞻：高增长能否支撑高估值 📊 $BTC current price $77,147, WAIT
Still holding $BTC long positions with an average price of $83,030, no adding to positions.
A) If the rebound to $77,601 fails to hold, then falling below $76,265 after a pullback increases downside risk; holding above $78,000 invalidates this.
B) After a wick sweeps stop losses at $76,265 and then recovers to $76,519, first target $77,601; failure to recover $76,519 invalidates this.
In the past 29.7 hours, long positions liquidated $12.17 million, open interest decreased 0.9% in 24 hours, price down 1.12%, indicating bulls are exiting.
At $76,519, the price has tested support once and held once, never broken.
If it rebounds near $79,742, I will first take half profits on long positions, then watch the market with the rest.
Would you buy the dip here? #OKXTraderVoices $ETH returned to around 2290 in early trading, briefly dipping below 2250 before quickly recovering, with the trend remaining sticky. Although it seems weak, there are buyers at the low levels; although it seems strong, the 2280-2290 range has yet to be broken, with 15-minute intervals swinging back and forth, making chasing orders prone to buying at emotional highs.
Short-term disturbances mainly stem from the Binance security incident. The platform has resumed partial asset withdrawals and stated that about 95% of the stolen assets have been replenished; however, after withdrawal resumed, capital outflows increased, with Reuters reporting a net outflow exceeding $3.5 billion on Sunday at one point. Binance said it is gradually returning to normal. The incident is marginally easing, but confidence restoration still requires time.
The market is thus showing a tug-of-war: panic selling and short-term leverage are being cleared, the absorbing orders have not disappeared, but the willingness to chase prices is insufficient. At this time, it is unwise to treat the rebound as a reversal, nor to treat the spike as a trend. Operationally, reduce position sizes, watch for support near 2250 and the quality of the 2280-2290 breakout, and decide based on whether outflows after withdrawal resumption converge. Waiting for sentiment and capital to align is more stable than hard betting in the middle of the range. #ETH触及2500美元后震荡 #美国中期选举在即，哪些结果值得关注？ In last week's hacker incident, the funds of three crypto concept stocks chose to expose their divergence: $CRCL, $MSTR, and $COIN all belong to the crypto equity track, but their risk-hedging attributes are clearly different.
Circle proved to be the most resilient. As the issuer of USDC, it just obtained the OCC national trust bank license, and FSOC has included stablecoin custody as a systemically important activity, with regulatory recognition continuously increasing; during the hacker incident, it cooperated to freeze related funds, further demonstrating its compliance execution to investors. The compliance narrative for stablecoins was thus strengthened, and CRCL gained a trust premium.
MicroStrategy is more like a leveraged vehicle for BTC rather than an ordinary US stock. Its treasury stock attribute means its stock price cannot avoid Bitcoin's influence: fluctuations around 78,000 directly transmit, and if BTC cannot reclaim 80,500, MSTR will struggle to have an independent trend.
Coinbase is the most conflicted. Industry risk events first hit the stock price through beta, with a single-day short-sell plunge of over ten points on the 30th reflecting this; however, traffic spillover and long-term trust migration caused by competitors' incidents may become incremental benefits for COIN. Short-term pressure and long-term gains—this split most tests holding conviction. #美国中期选举在即，哪些结果值得关注？ #苹果新CEO迎来iPhone18首份成绩单 #Palantir财报前瞻：高增长能否支撑高估值 $DOGE $BTC Often, large institutional transfer news carries a "self-fulfilling prophecy": when the group shouts about dumping, BTC often responds with a drop. Like this time when Fidelity transferred out 1,722 BTC (about $132 million) within an hour to multiple new addresses, it looks panic-inducing but is essentially just a cold wallet relocation. The key judgment is simple: transfers into exchanges are potential selling pressure, while transfers to unfamiliar new addresses are mostly asset migrations, not equivalent to selling.
My position remains unchanged for now, with a short-term plan to try shorting, with the following strategy by asset:
BTC: Entry range 77,150–77,600, hard stop loss at 77,980, first target 76,650, second target 76,280; if 1H close holds above 77,700, cancel the order immediately. Support at 76,650/76,280, resistance at 77,700/78,300.
ETH: Entry 2,270–2,305, hard stop loss 2,321, targets 2,240 and 2,206; cancel order if 1H closes above 2,310. Support at 2,237/2,206, resistance at 2,310/2,318.
XAU (currently held): Entry 3,948–3,975, hard stop loss 3,988, targets 3,930 and 3,906; cancel order if 1H closes above 3,972. Support at 3,930/3,906, resistance at 3,975/3,995.
Risk control reminder: BTC and ETH are highly correlated, single trade risk control at 0.5–0.7% each, total not exceeding 1.5%; XAU has weaker correlation, reserved at 1%, total exposure of all positions not exceeding 2.5%. Price is falling, fees are full, is this the bottom or a consolidation?
BTC is now 77,058.
In 24 hours, it dropped from a high of 78,866 to 76,660, down 2.8%.
Yesterday the fee rate once dropped to 0.0086%, I took it as a weak rebound.
Today both settlement periods returned to 0.01%, fully loaded again.
But with fees fully loaded, some see it as a bottom-fishing signal.
The price is clearly falling, yet bulls are still paying full fees. This is unreasonable unless someone is holding on.
Positions haven't decreased. BTC perpetual OI is steady at 340,000 contracts.
This is not a bull liquidation, it's spot selling off.
Perpetuals are still at a discount. BTC premium −0.024%.
ETH −0.030%, SOL −0.032%, all three negative together.
ETH 2,259 down 0.78%, SOL 92.47 down 2.00%.
XPL 0.0668 down 5.63%. All moving down together, no safe-haven coins.
Judgment: If the 1-hour close breaks below 76,600 (today's low), I look toward 75,200.
If it stands back above 78,800 (yesterday's high), this scenario is invalidated. Valid until 16:00 fee settlement today.
Personal review only, not investment advice.
$BTC $ETH #BTC跌破77000，空头回补行情是否结束Most people would see this as good news: Liquid officially announced that Bitcoin reserves have been fully restored, and all LBTC now have 1:1 BTC backing.
On the other hand, I think governance reform is more critical than replenishing reserves. First, reserves answer the question "Is there enough money?" but not "Who is responsible?" Second, nodes can verify reserves, but if ordinary users don't know how to use it, supervision still has barriers.
Which is more capable of restoring trust: clarifying responsibility or lowering verification barriers? I choose the former; those who disagree, let's debate.$NEAR
The NEAR governance vote has passed. The maximum annual issuance rate is capped at 1.6%, to be completed over 24 months.
Then the price dropped from 4.27 straight down to 3.886, a 9% decline in one day, just one step away from the daily low of 3.847.
I have always considered NEAR's high inflation a major flaw, thinking this thing couldn't make it big. The flaw fixed itself, and the market gave a slap in return.
The fee rate is still at +0.01%, contract positions are $50 million, not large. Bulls haven't fled, and no one is rushing to take over.
The positive change is to the two-year supply curve, it can't change overnight liquidity. I usually don't act on this kind of news, I'll watch for a month first.
#美国中期选举在即，哪些结果值得关注？ $ETH
In the past 12 hours, 298 million was liquidated across the network, with 271 million on long positions. Ninety percent.
The liquidations are on leverage; those of us holding spot are fine. But when these numbers are spread across the market, ETH only dropped 0.55% in 24 hours, currently priced at 2258, just about twenty off the daily low of 2237. The daily volatility is 3.6%, moving from 2317 down to 2237, then back to the middle.
It's a bit strange. If something serious had happened, it shouldn't be holding like this. The funding rate is still +0.01%, longs are paying, and contract open interest is 1.46 billion, not reduced by a cent.
My interpretation: the liquidations are from altcoins with 20x leverage; no one is really fleeing ETH. Bulls haven't conceded, and bears haven't dared to chase.
What wears people down is never the direction.
#美国中期选举在即，哪些结果值得关注？ One hour, 1,722 bitcoins, $132 million, sent to multiple new wallets.
This message is very straightforward, containing only three elements: time, quantity, and destination. But precisely these three elements distinguish it from the daily noise of "whale dumping." 1,722 coins corresponding to $132 million indicates a complete position transfer at the current market price, not a fragmented portfolio adjustment.
Next, look at the destination. "Multiple new wallets" rules out a common bad scenario—directly sending to an exchange hot wallet. If it were to be sold, the fastest path would be to deposit to an exchange, which would immediately show a large on-chain inflow. Since this step is absent, what can be confirmed is that the money has moved out, but it cannot be confirmed that it will be sold.
When custodians make such moves, they usually fall into three directions: internal address consolidation, client withdrawals to self-custody, or position allocation for market making or staking. The implications for price differ completely among these: the first is neutral, the second leans toward long-term holding, and the third depends on whether there is a return flow in the following days. Looking at this single transaction alone, any directional conclusion is speculation.
The observation window is the next 24 to 48 hours: will these new wallets transfer out again, and will some portion flow to known exchange hot wallets? Only looking at outflows without considering inflows is like reading only half the sentence.
One question remains: the more mainstream the custody, the more transparent the chain becomes, but this transparency only reveals "someone moved $132 million," never "why they moved it." Retail investors see more certainty, but the explainable part has not increased. $BTC is ultimately priced by the latter.To be honest, I used to easily mishear “returning to normal” as “risk reset to zero,” and the first thing that popped into my mind was opportunity, with verification coming later. Later, I realized that just because news can ease people's minds, it doesn't mean risk control can take a break.
Liquid Federation announced that the network's Bitcoin reserves have been fully restored, and all LBTC has resumed 1:1 BTC backing. In the past few weeks, BTC and LBTC exchanges have resumed, allowing users to transfer between Bitcoin and Liquid at a 1:1 ratio by participating providers.
My judgment is that this is a substantial positive repair for the relevant users, but it cannot be directly translated into a positive price impact. Reserve backing and exchange restoration address asset backing and transfer issues, but do not equal new buying pressure. This kind of news reminds me of the old atmosphere of "rush in once the alarm is lifted," where ordinary people tend to mix up these two things.
I place more importance on whether continuous verification can be maintained afterward. According to Liquid, node users can directly verify reserve proofs, and the public dashboard can monitor reserve balances and network activity; however, governance modernization, duty supervision, and more safeguards are still planned for the future. Announcing the repair does not mean these tasks are completed.
Now I set two rules for myself: when I see “restoration,” first distinguish what has been fulfilled and what is still planned; and do not use a single repair announcement as a reason to leverage up. Work is already busy enough; I’d rather be slower than skip this verification step.The election voting starts at 6 PM tonight. Who do you think will win? The Democrats or the Republicans?
1. Inflation
September PCE monthly rate 0.5% (previous 0.3%), both overall and core increased by 0.1% month-on-month, the fastest monthly acceleration since 2026.
2. Interest Rates
Federal funds rate 4.00%/3.75% (held on 10/29), US Dollar Index 101.96, VIX 17.2 (not panic level).
3. Institutions
IBIT down 11.39% this year, down 9.4% in the last 20 days — BlackRock's spot Bitcoin ETF is the most authoritative institutional thermometer, and it is falling.
The real trading opportunity lies in the "expectation gap": the Democrats taking the House is already priced in at 95%, almost zero information value. The only marginal variable is the Senate, whose pricing has risen from 63% in early October to 73% now. If the Democrats end up only taking the House and losing the Senate (23% probability), the market will reduce concerns about "stricter regulation + corporate tax hikes," and risk assets may rebound, with crypto following suit.
Still bearish on $2000 ETH On last Friday alone, the US spot Bitcoin ETF saw a net outflow of $643 million, marking the largest single-day outflow since June; over the past six trading days, the cumulative outflow was about $859 million. The aftermath of the Binance hack is still unfolding, with net user fund outflows expanding from an initial $3.64 billion to $4.72 billion, accounting for about 3% of the platform's total assets.
However, on-chain whales are taking the opposite position: whale holdings have increased to approximately 3.03 million BTC, representing the fastest accumulation rate since February this year. While ETFs are selling, whales are buying—this opposition is the core reason for the current market condition of "not falling deeply, nor rising strongly." ETFs represent institutional short-term risk exposure adjustments, while whales represent longer-term chip accumulation; the two operate on different time scales.
The midterm elections on November 3 and the non-farm payroll report on November 6 are two key event windows this week. The market's baseline expectation for the election is a "divided government," a result that is neutral to slightly positive for risk assets, but it cannot change the core contradiction currently facing BTC—the absence of spot buying from ETFs. 🔤 Inscription Dictionary Day 9: BRC-20
📖 In one sentence: The first token issuance standard on BTC, interpreted by indexers.
🔍 Key points: Commands written in JSON format: deploy, mint, transfer, all interpreted by indexers.
It has clogged the BTC network to the max, but it indeed brought in funds. My view is straightforward: BRC-20 is a "tradable consensus," not a technological breakthrough. If the indexer crashes, your tokens become invisible, a risk many don't realize. Don't treat inscriptions like ERC-20; the underlying logic is completely different.
❓ Do you think BRC-20 counts as a token standard or just a gimmick?
$BTC $ETH $ORDI #Palantir财报前瞻：高增长能否支撑高估值
Palantir's Q3 report has officially landed, with performance fully exceeding expectations, delivering a solid answer on AI commercialization.
Q3 total revenue was $2.313 billion, a year-over-year surge of 96%, significantly beating market expectations. A landmark structural turning point appeared: U.S. commercial revenue reached $984 million, up 148% year-over-year, surpassing government segment revenue for the first time. Growth momentum shifted from fiscal budgets to real enterprise payments, validating AI commercialization capabilities. GAAP net profit for the quarter was $1.128 billion, EPS $0.44, with profits driven by orders rather than cost cuts.
More valuable is the upward revision of guidance: Q4 revenue guidance is $2.649-2.653 billion, with full-year raised to $8.530-8.534 billion. U.S. commercial revenue growth is expected to be no less than 143% for the year, confirming management's high confidence in subsequent orders.
However, the margin for error under high valuation remains narrow. A forward PE of 100x already fully prices in optimistic expectations. The market's game is whether growth can continue to accelerate; once growth marginally slows, even strong absolute performance may trigger valuation corrections.
For the crypto AI sector, this report indirectly confirms accelerated enterprise AI spending, but on-chain tokens lack clear paid adoption paths, so narrative positives are hard to directly translate into fundamental support.
$PLTR #苹果新CEO迎来iPhone18首份成绩单
The new CEO, Tim Cook's successor, has released his first financial report, with revenue reaching $114.48 billion and profits both exceeding market expectations. The market value has returned to the $5 trillion mark, showing an overall pattern of "impressive appearance but underlying pressure."
The core concern focuses on profitability: this quarter's gross margin was 47.9%, down more than 2 percentage points from last quarter's 50.1%. The main drag was the price increase in storage chips, with related costs nearly doubling in proportion. The company offset some pressure through price hikes in the Pro series and high-margin service business, but cost pressures have not fundamentally eased.
Further pressure is still being released: next quarter, the impact of storage price increases will become more apparent, with institutions warning that profit margins could be hit by another 150 basis points; the foldable model iPhone Duo's market feedback is below expectations, adding uncertainty to sales growth.
From an operational perspective, short-term sentiment spikes are suitable for phased reductions; in the medium term, if the gross margin pressure causes a pullback to the $300-310 range, it represents a buying opportunity after an oversell; the long-term core anchor remains the progress of on-device AI implementation, which will determine Apple's valuation space in the next phase.
$AAPL First, look at the most eye-catching orange bars: there are two peaks in the 100x leverage zone. The upper one at 78556—78836 is the thickest, with a single bar reaching about 19.5 million, acting like the heaviest long position chip magnet in the entire market; the lower one at 76932—77212 also has a cluster, representing long positions trapped after bottom-fishing. 📊
Next, look at the cumulative lines: the red line for long liquidations has nearly reached zero, indicating that longs below 77000 have been largely cleared; the green line for short liquidations has risen from around 78000 to 200 million, confirming that this rally looks more like short covering rather than sustained inflow of new buying. 🔥
Translated into market terms: 78000 is the middle ground. The pressure is most concentrated near 78800 above; if the price tests this level, it is likely to encounter longs trying to break even and short-term profit-taking; below, 77000 still has support, but a real pullback could trigger another round of long liquidations. ⚠️
Considering the liquidation structure, I believe the fuel for this rally is more passive, dominated by short covering. If 78800 cannot be effectively absorbed by new buying, the probability of a pullback after a spike is higher, then watch the 77000 support. 📉📈
In terms of trading, do not chase longs or shorts at 78000: wait for a rebound near 78800 to face resistance before considering a short; after a pullback stabilizes at 77000, then consider going long. The key is not to guess the direction but to wait for the position and confirmation. 🎯$BTC #美国中期选举在即，哪些结果值得关注？ #苹果新CEO迎来iPhone18首份成绩单 #Palantir财报前瞻：高增长能否支撑高估值 Liquid Federation posted a low-key announcement today: the network's Bitcoin reserves have been fully restored, and all LBTC have returned to a 1:1 backing with BTC.
First, the nature of it. LBTC is a pegged version of Bitcoin on the Liquid sidechain—lock one BTC on-chain and issue one LBTC; redeem it to get the BTC back. In theory, it tracks BTC closely, but what really determines whether it can maintain the peg is not the code, but whether the reserves actually hold that many coins.
The announcement has three layers. The ratio is 1:1; the path is through participating providers with bidirectional transfers, and the redemption channel is open; most importantly, the reserves can be independently verified—running a Liquid node lets you verify yourself, and balances, network activity, and a public dashboard are available in real time.
Why is the third layer important? Almost all lessons from pegged coins come from the same issue: it’s not that the chain was compromised, but that no one could confirm whether the reserves still existed. Shifting verification from "you trust me" to "you check yourself" moves the trust cost away from users.
Judging from this, it is a restorative measure for LBTC’s use cases. Cross-chain lending, market making, and liquidation fear trust gaps in pegged assets the most; if reserves can self-prove, there is one less reason for discounting. But it does not change the more fundamental ceiling: Liquid is a federated model, custody rights lie with a group of members, so while you can verify reserves, you still have to trust that these members won’t act maliciously.
Verifiable and trustless are two different things.#美国中期选举在即，哪些结果值得关注？
The U.S. midterm elections will officially vote on November 3, a core variable for the crypto market this month. Pre-election sentiment is cautious, with BTC dropping nearly 2% intraday, hitting a low of $76,700, about 5% down from the previous high.
The market generally expects the Democrats to likely take the House, while the Senate remains uncertain. Prediction platforms show the probability of a Democratic sweep of both chambers is rising. The crypto industry has invested over $200 million in political donations to push the CLARITY Act, and control of Congress will directly determine next year's regulatory strictness: a Republican loss could disrupt the easing regulatory pace, while full Democratic control raises expectations for tighter regulation.
Historical patterns show that BTC fell 48%, 37%, and 16% respectively before the last three midterms, with an average 12-month post-election gain of 53.7%, generally showing a "pre-election sentiment sell-off, followed by recovery after the event" pattern. However, this time the interest rate hike expectations add pressure, so history is only a reference.
Liquidity has cooled in advance: BTC spot ETFs saw a net outflow of $643 million on Friday, the highest since June; the options market is dominated by bearish sentiment, with the top three contracts being puts. ETH is more sensitive to regulation and ETF funds, with greater volatility elasticity than BTC.
Before the results are finalized and combined with the nonfarm payroll window, market sentiment is cautious. The lower boundary of the BTC $76,000-$80,000 range is easily tested, so it is not advisable to heavily bet on a one-sided move in advance.
$BTC $ETH $SOL $UNI exchange inexplicably incurred a spot gap of nearly 40 million dollars. If this rigid buyback demand is not fulfilled, bears will have no foothold around 6.8. Without insider trading or sniper attacks to dump the market, the chips are as clean as loose bulk, forcibly becoming the biggest obvious long position on the board.
#UNI
$UNI
👇$SUI tens of millions of dollars worth of clear unlocks were stubbornly absorbed by spot buy orders, with no decent sell-off on the chart.
Originally waiting to see a selling pressure stampede, but big players were aggressively placing orders around 0.9 and catching them dead-on. A quick look on-chain shows 70% of the tokens are locked in staking.
The market makers are purely using the unlocking negative news to bottom out and rotate hands. There are very few loose tokens floating outside, so shorts can't find volume to dump. Since this level can't be broken no matter what, the bulls can easily borrow some sentiment to push the price away from the cost zone.
#SUI
$SUI
👇Staring at that terrifying pile of huge buy orders on the order book, do you feel the bottom is stable and want to put your hands down first! The order book is something you can't trust just by looking. I just dug into the main players' order cards, these guys are too sneaky
$BTC current price 76882, order ratio 46 to 54, sell orders pressuring buy orders. The funniest part is at 76000, where there's a solid buy order of over ten million, the main players place a big order at the bottom to make you think it won't fall further, but if you look up, 77000 is all real selling pressure, once you chase longs, they can cancel orders anytime and smash the price, this trick works repeatedly
Looking at $ETH current price 2258, order ratio 50 to 50, bulls and bears are in close battle, but at 2310 there's a sell wall of over eight million, as thick as an iron plate, with such heavy resistance above, anyone chasing highs is just feeding the main players' defense funds
The most interesting is $SOL current price 92.28, after breaking below 100, the order ratio is as high as 63 to 37, buy orders clearly dominate! Also, around 89 there's over five million real money propping the bottom, looks like big holders want to bottom-fish here, but don't rush, from 93 to 95 is all trapped positions
My view: the current order book is the main players' psychological warfare, the thicker the buy orders at the bottom, the more it shows they don't want to really spend money to pump the price, just want to stabilize you
What do you think about that over ten million buy order at 76000, is it real support or a fake move to deceive? Do you have any positions now?
#非农来袭，12月加息会否生变？ Crypto circle hit again by a black swan shock: Hacker money laundering shadow looms, BTC struggles to hold 76,000
The crypto market, already on edge due to the US midterm elections, took another hit. Brazilian exchange Mercado Bitcoin was hacked, losing $46.5 million in assets (including 3,680 ETH, 106 BTC, and 8 million USDT), dispersed across 46 addresses. Such a sudden black swan event easily triggers panic; if hackers dump and launder funds, tight liquidity could allow major players to amplify the panic with downward spikes.
Market divergence: Some panic and retreat, others buy against the trend
Though prices fell, the patterns differ greatly. BTC currently at 76,811, down 1.91% daily, with $91.57 million liquidated in a single day, yet contract positions increased 1.52% against the trend. Liquidated positions were quickly taken over—this is turnover. In contrast, ZEC dropped 8.02%, four times BTC’s decline, with positions decreasing 3.75%, only $14.52 million liquidated, indicating funds are withdrawing—this is a retreat. Additionally, ETH’s rebound after falling below 2200 is extremely weak; the 2200-2250 range above is a strong resistance, creating heavy short-term pressure.
Strategy: Hold your hands, wait for sentiment to release
The current market is volatile; short-term hope lies in non-farm payroll data. Below, watch if BTC’s 75,000 level can hold. The approach is straightforward: to support, stand on BTC’s side—there are funds to catch the dip; for ZEC, before positions turn positive, rebounds should be used to reduce holdings. Don’t blindly catch falling knives with blood; reduce contract leverage quickly, and only consider action once support is secured.Surface calm, but undercurrents remain 🌊
$BTC did not break down after the black swan event; giant whales are quietly accumulating, ETF funds are still flowing in, and institutional support makes the market appear resistant to decline 😌. However, the fear index is relatively low while volatility is rising, and the batch of coins held by hackers remains unmoved, always like a looming risk overhead ⚠️. ETFs bring long-term money, but in the face of sudden panic, they may not hold up.
$ETH staking tokens remain stable, but ETFs continue to bleed out, and the security controversies around upgrades have not dissipated 😕. SOL has frequent positive news, yet the price weakens, bulls are continuously swept out, showing a clear disconnect between fundamentals and market performance 📉.
Right now, the key is not the story, but whether there is capital willing to take over. Sentiment is cautious, leverage is uncleared; BTC is more stable with institutional backing, while ETH and SOL are more easily dragged by sentiment. The surface stability is not solid; any slight movement could trigger another round of liquidations ⚡️.#美国中期选举在即，哪些结果值得关注？ #苹果新CEO迎来iPhone18首份成绩单 3 of 28 liquid pairs are green. That is 11% breadth, Fear & Greed at 26.
Not a crash - a wide, quiet bleed. $BTC near $76.9k, $ETH flat, only $TRX and $XAUT still finding bids.
Thin breadth means any bounce is one or two tickers wide, and those unwind first.
My stance: waiting until advancers clear 40%.
For you, is 11% breadth a bottom or the start?
$BTC $ETH #OKXOrbit #Crypto
Crypto is high-risk. Personal observation only, not investment advice. DYOR.😱 The old version of BTCPay ran into trouble, and I traced the chain again; the more I look, the colder I feel.
🔍 Hackers swept about 18.4 BTC (approximately 1.44 million USD) from over 10,000 payment addresses, and deposits are still coming in as of noon today. The official report at 12:07 stated that the affected versions are 2.4.1 and earlier.
⏰ According to block time, from 9:00 PM last night to 6:25 AM this morning when the official stop was called, this address received about 16 BTC, accounting for 87%; the most intense hour was midnight, with 8.8 BTC.
😮💨 Even more outrageous is that after the stop—from 6:25 AM until now, another 1.64 BTC was swept from 1,273 addresses, with the latest transaction at 12:57 PM. This indicates many merchants never saw the notice and their servers were still running.
💸 The money didn’t stay long: about 17.9 BTC was transferred out in total, leaving only 0.48 BTC; Litecoin addresses also received about 3,383 LTC (around 190,000 USD), none of which moved.
🤔 Binance lost 6.3 billion, which the exchange bore, but this time the ones hit are small merchants running their own servers to receive coins. Self-custody saves the middleman but also means bearing the full cost of "not upgrading for months."
💬 So, is running your own server for payments ultimately safer or more dangerous? My answer is: safety doesn’t depend on the words "self-custody" but on whether you take patches seriously.🔐"Market depth calls for selling, whales are scooping up (ง •_•)ง"
🟠 $BTC (77,753): The buy-sell depth ratio of the top five levels is only 0.15, with the sell side so thick it’s suffocating; yet on-chain whales’ holdings are nearing 3.03 million coins, with the fastest accumulation rate since February. ETFs are withdrawing, whales are buying, 78,000 has become the short-term watershed; if it can’t hold, it will keep grinding (￣▽￣).
🔵 $ETH (2,284): The most conflicted asset. ETFs have bled for five consecutive weeks, with another $432 million outflow last week, yet the price stubbornly holds above 2,300 from 2,247, and the perpetual funding rate is slightly negative—shorts are paying longs. With bearish factors dulled to this extent, either shorts admit defeat or spot prices get forcibly pulled up (๑•̀ㅂ•́)و✧.
🟡 $OKB (112.23): OKX leads the market with a net inflow of $445 million, but OKB itself fell 1.97%. ICE compliance benefits have landed, daily trading volume shrank to $3 million, X Layer’s Gas fees are not recycled, cutting off token value capture. No price rise despite good news, volume is thin and falling quietly; any selling pressure breaks support (｡•́︿•̀｡).
Summary: BTC is tearing, ETH is diverging, OKB is bleeding. Whales are scooping while ETFs are fleeing, which side are you on? Bet in the comments below 👇
#BTC持续承压，资金与市场走势出现分歧
#美国中期选举在即，哪些结果值得关注？ South Korea's chip export data exploded 📈, with Samsung and Hynix's performance also exceeding expectations. The narrative of memory shortages has been extended to 2028, and fundamentally, there really isn't much to fault. Yet the stock prices are pulling back; the problem isn't the story, it's the chips. In a deleveraging market, liquidity acts like a pump; when other positions blow up, institutions can only sell what they can, and good companies get collateral damage 💥.
I've kept a bit of a long position in storage, doing only the recovery phase after an oversell, not mistaking the rebound for a reversal. Fundamentals tell you where the endgame is, but the capital side decides where you get hit first on the way 🔪.
So, are you now betting on a full cycle turnaround, or just catching a short emotional rebound? 🤔#美国中期选举在即，哪些结果值得关注？ #苹果新CEO迎来iPhone18首份成绩单 #Palantir财报前瞻：高增长能否支撑高估值 A blogger with 1.26 million followers has also started to be bearish on Bitcoin's performance in Q4. Although it's like carving a mark on a boat to find a sword, I think this method really works. Trading and investing are fundamentally about probabilities.
In this world, no one is a god, no one knows for sure if it will rise or fall, or by how much. At best, one can only judge whether it is more likely to rise or fall. Therefore, referencing the historical performance of the asset is crucial.
I remember before October 11 last year, Bitcoin had surged to 126,000, and many people were talking about an eternal bull market, institutions entering, no more bear markets, no more four-year cycles. But what happened? It fell from 126,000 to 57,800 in 2026, which is still within the four-year cycle. I can only say this drop was a bit small, which left me somewhat at a loss.
Carving a mark on a boat to find a sword essentially improves the probability of making a correct judgment and is useful. I've benefited a bit from this method and will continue to use it until it stops working. $SPCX Yesterday oil prices plummeted. Everything was fine before going to sleep, but when waking up, it felt like the sky was falling.
Analyzed two reasons:
1. Before the midterm elections are finalized, large funds are reducing risk and cutting positions at high levels to observe.
2. Oil prices crashed; although there are signs of easing in the situation, nothing is finalized yet, so it's still like a knife hanging in the air.
In summary, we can only wait for the midterm elections to be finalized tomorrow.
But don't be afraid. Looking back, no matter who takes control after the elections, the market always rises. Be patient; the darkness will eventually fade away 开盘前扫了一眼自选，科技股那边的温度先变了。 这波到底是启动，还是又一次分歧前的假动作？ 高盛把 Palantir 上调到买入、目标价 230 美元，对应约 18% 上行空间，理由不是单季业绩，而是行业交流里反复出现的一个判断：主权 AI、定制化应用、垂直化打法，可能把它的可服务市场再抬一个台阶，强势期有望延续到 2027。我盯着这条消息的第一反应不是追价，而是去想它会把风险偏好往哪儿推。 先看传导。这类上调本质是在给 AI 叙事续命，而且续的是偏企业端、偏政府订单的那条线。美股 AI 情绪一旦被重新点亮，BTC 和 ETH 通常不会立刻跟涨，但会先体现在风险资产的持有意愿上，尤其是杠杆多头敢不敢加。真正敏感的是山寨里的 AI 概念板块，它们对这类消息的反应往往比主流币更快、更夸张，也更容易在冲高后留下一根长上影。 再看阶段。现在更像启动初段还是分歧段，我倾向后者偏启动的混合体：叙事有新增量，但价格已经提前计价了一部分乐观预期。18% 的空间说多不多，说少也不少，关键看后续有没有更多机构跟进上调，以及订单侧能不能给出实打实的数字。如果只有评级变化、没有基本面接力，那这波更像情绪脉冲，而Apple's new CEO delivers the first performance report for iPhone 18, and consumer electronics sentiment directly impacts semiconductor leveraged products. I hold a cautiously bearish short-term view on SOXL. It plunged 11.9% in the past 24 hours, currently priced at 70, close to the intraday low of 67.66. It has retraced nearly 35% from the four-hour high, with the trend completely weakening; bottom-fishing requires extreme restraint. The top 10 order book buy-sell ratio is 0.88, with sellers dominating. The funding rate remains positive at 0.0277%, indicating crowded longs not yet cleared, making rebounds prone to selling pressure. Strategically, a light short position can be tested on a rebound to 71.35, with a stop loss at 73.85 and a target of 66.45; if 67.66 does not hold, exit and wait. Single position size should not exceed 5% of total capital; execute stop loss immediately, no averaging down or holding stubbornly.
— This is only a personal opinion and does not constitute investment advice. Wishing you successful trading. —
$SOXL#苹果新CEO迎来iPhone18首份成绩单
#苹果新CEO迎来iPhone18首份成绩单
$SOXL House of Stake has reduced NEAR's annual issuance cap from 2.5% to 1.6%, with on-chain voting overwhelmingly in favor. The official account also clarified: the reduction will be implemented gradually over 24 months, not an immediate change tonight.
Passing the vote does not mean the rule is already in effect. It still needs to pass the Security Council window and wait for the majority of validators to upgrade; if stuck in the middle, the numbers remain just a proposal. The reduction sounds beneficial to token holders, but opponents argue that staking rewards will decrease accordingly, making it more like a short-term liquidity drain rather than an immediate reduction in dilution.
If the Security Council vetoes within two weeks, or if validators delay upgrading, treat this as sentiment news rather than a confirmed change in the supply curve. Snapshot was around 08:02 Beijing time, spot price about $3.87, down roughly 10% in 24 hours. The price has already softened somewhat; let's watch the implementation progress before discussing whether this narrative holds.
$NEAR
#NEAR #Tokenomics #Cryptocurrency#美国中期选举在即，哪些结果值得关注？
Brothers, tomorrow is the US midterm election. Many want to bet on the election outcome, but Old Mo advises you: don't treat the election like a guessing game.
For our crypto circle, the core issue is not who takes control of both chambers, but whether the CLARITY Act can survive. The Senate vote in September failed by 11 votes. Now there are three scenarios: Democrats win comprehensively, Warren takes control, and the bill is basically shelved for two years; Republicans hold the Senate, Scott remains, and there is room for negotiation; a complete landslide victory is very unlikely.
Don't expect immediate benefits after the election. Regardless of who wins, the probability of passing this year is very low; the real legislative window is in 2027. Currently, big money is waiting to act after the election. $BTC $ETH $SOL From this set of cryptocurrency perpetual contract positions, this is a typical "mainstream coin hedging + small coin speculation" portfolio approach: on one side, shorting ETH and BTC with 30x leverage, and on the other side, longing XIAOMI with 5x low leverage, attempting to balance trend judgment and local opportunities in large-scale market movements.
However, the actual profit and loss results reveal a clear imbalance: the ETH short position smoothly realized profits, the BTC short position incurred losses in the opposite direction, and the small coin long position directly consumed nearly 60% of the margin. Although the current maintenance margin ratio is sufficiently high, so there is no immediate liquidation risk, the 30x leverage itself offers very little tolerance for short-term volatility. Once the mainstream coins experience a rapid surge, it can quickly erode the existing profits.
The core issue with this position is not the correctness of the direction but the unreasonable risk allocation—placing the largest loss exposure on small coins with volatility far exceeding BTC and ETH, while using high leverage to short relatively stable mainstream coins. If hard stop losses are not promptly set for losing positions and the risk of small coins is not further isolated, it is easy to give back all previous profits in an extreme market event.
#苹果新CEO迎来iPhone18首份成绩单 SanDisk's earnings exceeded expectations but the stock price dropped more than 13% after announcing a stock split, indicating that the sentiment of selling on good news is dominating risk assets. BCH is similarly caught in this cautious atmosphere, and I judge the short term to be weak with fluctuations. The four-hour chart is still in an uptrend structure, but the one-hour chart has turned downward and has fallen 6.38% from the high. 272.67 is today's key support line, with resistance at 286.71 above; the order book buy/sell ratio is only 0.75, with sellers clearly dominant, while the funding rate of 0.0039% shows longs are still paying to hold positions, so sentiment has not completely turned bearish. Whether the price breaks the support is the core of the turning point. Strategically, if the price rebounds to around 281.35, a light short position can be tried with a stop loss at 286.95 and a target of 273.45; if volume increases and the price stabilizes below 272.67, then follow the trend to short with a stop loss at 276.85 and a target of 267.35. Position size should be controlled within 20%, and any breakout trades must wait for close confirmation before acting.
— This is only a personal opinion and does not constitute investment advice. Wishing you successful trading. —
$BCH#闪迪业绩超预期并宣布拆股，股价跌逾13%
#闪迪业绩超预期并宣布拆股，股价跌逾13%
$BCH Have you noticed that the USDT in wallets is increasingly being transferred on TRON rather than Ethereum?
It's not an illusion. By the end of Q3, USDT on TRON was $92.35 billion, while Ethereum had $86.69 billion. TRON overtook on July 23 and has maintained the lead until the end of the quarter, now reaching $94.25 billion.
Sustaining this for over two months indicates it's not a one-time large portfolio adjustment; money is continuously moving in one direction. The difference in gas fees and waiting times for transferring USDT is there, and after using it for a while, everyone tends to choose the cheaper option.
$ETH has no shortage of stories, but what it lacks is a reason for people to want to transfer stablecoins on it every day.USDT's home base has quietly shifted from Ethereum to TRON.
Let's first look at a verifiable set of numbers: by the end of Q3 2026, the circulating supply of USDT on TRON was $92.35 billion, while on Ethereum it was $86.69 billion. TRON overtook Ethereum on July 23 and has maintained the lead through the end of the quarter, currently standing at $94.25 billion.
This is not a fleeting lead. The positions have not swapped for over two months, indicating that this is not a temporary fund transfer but a sustained accumulation on one side. Once the distribution of stablecoins forms inertia, the cost of reversing it is very high—merchant receiving addresses, exchange deposit and withdrawal channels, and market makers' reserve pools are all configured by chain, and changing them requires overhauling an entire process.
The mechanism also makes sense. The vast majority of USDT holders are not waiting for it to appreciate but use it for transfers, settlements, and instant on-exchange conversions. These needs are extremely sensitive to fees and confirmation speed and almost indifferent to the chain's narrative. Whichever chain handles this mundane task cheaper and smoother will attract the stockpile.
The issue with $ETH is not that it is weak, but that its strength does not manifest in this scenario. $TRX has captured the least glamorous but most essential segment, and the $94.25 billion weight lies here.
It is worth pondering: when the main settlement backbone of stablecoins is not on the most mainstream chain, what will support Ethereum's valuation story?$SUI's market crashed heavily, but SUI stubbornly held at 0.9. Tens of millions worth of unlocked tokens were dumped, and it was expected to bleed, but all were swallowed up by spot buyers in one gulp, without even a decent drop. 70% of the tokens on-chain are still tightly locked in staking, so bears can't find enough liquidity to crash the market. The interaction cost of flipping the order book is as low as getting something for free, and market makers and quant funds are happily gobbling up at the bottom. As long as 0.88 doesn't break, some keyboard warriors who hope for a crash every day will end up breaking their own legs again.
#SUI
$SUI
👇$BTC
73%. The probability of a 25 basis point rate hike in December according to CME is 73%, Kalshi 72.5, Polymarket 70.5. The three platforms are almost the same number; this time it's not calculated by any media outlet.
On the same night, I also saw Citi say that this year they want to establish institutional Bitcoin custody, becoming the sixth global systemically important bank. Banks lining up to build pipelines like this was not considered a serious business a year ago.
The market hasn't responded to this. BTC is now 76808, the 24-hour low is 76700, just 100 short. The fee rate remains at the baseline of 0.01%, contract positions climbed from 2.57 billion to 2.611 billion, an increase of about 40 million.
The pipeline is a three-year matter, the interest rate is a six-week matter. In the short term, I lean towards consolidation; don't chase custody as a bullish factor. What really moves things is the funding cost of those few basis points.
#美国中期选举在即，哪些结果值得关注？ The crypto market has really been nerve-wracking these past few days. 😓 Binance was hacked for over 6 billion USD, and the market immediately panicked!
$BTC has now dropped to around 76,000, breaking short-term previous support with a clear increase in trading volume, causing a wave of long liquidations one after another. Below, first watch if 75,000 can hold; if it breaks, it could fall to 70,000.
After $ETH broke below 2200, its rebound has been very weak, with larger drops and volatility than Bitcoin, poor liquidity, and heavier short-term pressure. The 2200-2250 range above has become strong resistance, overall sentiment is panic, and the rebound strength is weakening.
It's best not to trade blindly now; wait for support to hold before considering action. The market is currently volatile and unpredictable, with no bottom in sight!
Let's see if the non-farm payroll data can boost the market a bit!本周美股科技股普遍下跌，即便是AI相关业务持续增长的公司也未能幸免。Alphabet与Intel均展示了AI领域的进展——Google Cloud与TPU利润改善，Intel数据中心和代工业务有所增长——但潜在的现金流压力和供应限制拖累了投资者情绪。 盈利能力与现金生成 市场关注点已从AI营收增长转向巨额资本开支的现金回报质量。Alphabet云业务利润率扩大，但AI基础设施资本开支上升使自由现金流承压。Intel面临不同挑战：服务器增长受限，PC/存储成本上涨和零部件短缺拖累业绩。在大型科技股中，微软维持正自由现金流，而亚马逊和Meta自由现金流转负——这种鲜明分化凸显了投资者对AI支出可持续性的担忧。 资本开支与外部收入稳定性 此次抛售反映了市场对AI投资估值的更广泛重新校准。企业正投入数百亿美元用于数据中心、芯片和模型训练，但货币化时间表仍不确定。投资者越来越质疑，来自云客户、企业AI服务和广告的外部收入能否跟上支出步伐。当自由现金流恶化时，即便AI叙事强劲也失去防御吸引力。 对科技板块的影响 本周价格走势表明市场正进入更具辨别力的阶段。能展示纪律性资本配置和可见现金回报的公司可This morning I compared BTC and ZEC side by side: both are falling, but the way they fall is completely different. One still has people adding in, the other has fewer and fewer. I'll put ETH and SOL aside for now and discuss them after this.
First, look at BTC: around 76811, down 1.91% in one day, position size 53.886 billion, with a 1.52% increase in one day; liquidations of 91.57 million in one day, the highest among the four, yet the position size did not decrease but increased. The liquidated positions were taken over by others, this is called turnover.
Next, look at ZEC: around 1136, down 8.02% in one day, more than four times BTC's drop; position size only 2.33 billion left, down 3.75% in one day; liquidations of 14.52 million in one day, about one-sixth of BTC's. Not many people were liquidated, people are withdrawing on their own, this is called a retreat.
The cost basis on both sides is similar: BTC's capital cost is 0.0109%, ZEC's is 0.0101%, leverage is equally expensive; the divergence is not in cost but in whether to stay or leave. ETH and SOL are in the middle: ETH down 0.94%, most resistant to the drop, but position size decreased by 0.90%; SOL down 2.66%, position size still increased by 0.62%. The whole network longs and shorts are 49.11 to 50.89, all four positions are close to the ground in one hour, and the market hasn't decided yet.
My rating is straightforward: if you want to take over, stand on BTC's side, there is still money to catch on the dip; for ZEC, before its position size turns positive for the day, I treat any rebound as a chance to reduce positions, not a bottom-fishing signal. With this comparison laid out, don't pick the wrong side.$OKB What about those stubborn people? They keep posting every day bragging about how great OKB is, showing their faces. Are they still praising the total supply of 21 million as extremely deflationary? The fate of OKB has already been sealed along with OKT. All of OKB's ecosystems have been completely removed, the transaction fee discounts are gone, staking mining is gone, the VIP levels for OKB holders are gone, and the X chain is also dead. Basically, OKB has nothing to do with it anymore. OKai is also finished. And the hyped-up OKXICE was unsurprisingly opposed. The only thing left is gas consumption, which is basically negligible because it would take hundreds of years to consume it all. Where did the consumed OKB go? Of course, into the pockets of the exchanges. The vision is really poor. Gas is not used to empower OKB. So, to those who keep posting to hype OKB, what use does OKB still have? List it out for everyone to see, don't just shout orders every day. Have some integrity and stop misleading people.