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#美加稳定币监管推进，社区银行获邀入场 The US OCC, relying on the GENIUS Act framework, proactively invites local community banks to participate in the stablecoin sector, allowing them to apply to become stablecoin issuers and custodians; Canada is also synchronously improving regulatory details for reference-type crypto assets. Both North American regions are advancing stablecoin compliance implementation simultaneously, no longer limiting entry qualifications to large banks and leading crypto enterprises.
✅ Positive implications
1. Expansion of participants in the sector: Community banks deeply serve local small and micro enterprises and regional customers. After integrating stablecoins, they can provide on-chain payment and cross-border settlement services to local merchants, filling the underserved markets that large banks do not cover, further broadening stablecoin application scenarios.
2. Natural compliance advantages: Community banks inherently have mature KYC, anti-money laundering, and deposit risk control systems. Compared to pure crypto projects, they more easily meet regulatory hard requirements such as 1:1 reserves, regular disclosures, and redemption guarantees, reducing regulatory implementation resistance.
3. Accelerated integration of traditional finance and crypto: More licensed financial institutions entering the market helps enhance trust in stablecoins and promotes the advancement of RWA and on-chain payment businesses. $BTC $ETH $ZEC Brothers, don’t look down on my small position and little profit! As long as the direction is right, even if I make just one or two bucks, it’s all real skill wrestled from the dog traders’ hands! I short confidently and boldly!
Look at the latest market: $ETH current price is 2320.82, I opened a short at the high of 2354, and now the floating profit has further expanded to 4.22%! And what are these retail traders doing? Looking at the bottom data, the bulls’ proportion has surged again to 71%, while the bears are only 29%. They really have the memory of a fish—after such a drop, they still dare to rush in crazily. The market makers love you bag holders the most!
Let’s dig into the order book to see the real intentions of the main players:
First, the selling pressure above is tightly pressing down. Keep an eye on 2320.84, where a large sell order of 175.22 coins is directly suppressing the price. As soon as the bulls dare to show up, they get smashed back immediately.
Second, the buy orders below are all a confusing trap. Although there’s a buy order of 325.17 at 2320.83, which looks bigger than the sell orders, did the price go up? Not at all! This is bait set by the main players below to fish, deliberately creating the illusion that "it can’t fall further" to lure retail traders in.
Third, the trend is a typical descending channel. The moving average system is firmly pressing from above, and all the weak rebounds are volume-less bull traps.
Don’t be the sucker who takes the bag. My very small short position is held steadily, the forced liquidation price is far away, no matter how the main players shake the market, they can’t blow me out.
$BTC $ZEC #美国9月核心PCE升至3.1%，加息预期仍高 Hyperliquid whales are net short $BTC for the first time since March.
This group managed to long the bottom, but the positioning flipped last week.
The question is whether they are early to a deeper pullback, or about to be squeezed if price turns higher.The 0.0013%/hour funding rate is the number I care about most in this message. In the futures market, when there's a sharp rally, I usually first check whether the position cost has become more expensive, similar to looking at the premium or discount in commodity futures; you can't just focus on how much the price has risen on the screen. Although the mechanisms differ, both serve to account for the excitement in the market.
This time, $LIT rose 6.49% in one hour, with the price reaching $3.19. I actually think that based on this funding rate alone, it's not enough to conclude that the bulls are already crowded. A fast price increase doesn't necessarily mean that leverage sentiment is overheated; these two things need to be considered separately.
The difference between crypto perpetuals and traditional futures is that the funding rate continuously affects the position cost and can change. The annualized rate of about 11% given in the material is just calculated based on the current rate, not a locked-in cost for a year. If the positive funding rate continues to rise, then the burden on long positions chasing the rally will increase; this is my inference, not something that has already happened. A snapshot at this moment also doesn't reveal what exactly is driving this rise.
My old habit might be a bit of a downer: when there's a sharp rise, I first look at the cost before discussing strength or weakness. Are there any friends who have also transitioned from traditional markets? When you encounter such a one-hour surge, do you first check whether the funding rate can be sustained, or do you first look at changes in volume and open interest, and why?I'm buying Google at this price without hesitation. The financial report looks pretty good. It was sold off just because of investments in SpaceX and AI layout. Those who want to sell, go ahead. This position is really attractive. I'm planning to hold GOOGL starting with 280 for the medium to long term. #谷歌Q3营收增长，净利润下滑、每股收益不及预期 #美国9月核心PCE升至3.1%，加息预期仍高
Today’s intraday quick review of the US stock market (2026.10.29): Google drags down the Nasdaq, money is frantically rotating
The opening trend is clear at a glance: money is withdrawing from "burning cash to buy the future" stocks and squeezing into "stocks with earnings, buybacks, and solid fundamentals."
Once Google's earnings report came out, the market immediately voted with its feet. GOOGL is currently around 283.6, down more than 12%, with trading volume soaring to 8.8 billion. This volume is not something retail investors can generate. The issue is not revenue but free cash flow being negative for two consecutive quarters. The money spent on AI infrastructure shows no short-term return, so funds are running first. GOOG also hit the floor, temporarily giving up its top spot.
But the market is not collapsing entirely. Microsoft rose nearly 1%, Apple is up, Meta is holding strong, and Eli Lilly surged 8%, indicating money hasn’t left the market, just changed tables. Funds are moving from AI narrative stocks with high capital expenditure and cash flow pressure to defensive growth stocks with higher earnings certainty.
The worst hit is ServiceNow, which plunged more than 22%, marking the largest intraday drop since 2016. The software SaaS sector was bloodied today. Storage players like SanDisk and Micron also took hits, showing clear differentiation within semiconductors.
Traders’ intuition: today is not indiscriminate selling but precise position cutting. Google dragged the Nasdaq down, but Microsoft and Eli Lilly caught some of the liquidity.【Nasdaq futures fall nearly 1%, the AI money-burning spree begins to pay the price】
US tech stocks are taking a hit, with the focus squarely on how much profit AI investments can actually generate. On October 29, Nasdaq 100 futures dropped about 1% at one point, Alphabet, Google's parent company, fell over 10% pre-market as core search ad performance missed expectations and AI spending continued to drain cash flow. Microsoft, however, rose against the trend due to strong cloud business growth and cash flow, showing that the market is starting to differentiate between AI spenders.
This selling pressure isn't just dragging down Google. Nvidia fell pre-market, AMD and Intel declined even more, and software stocks also reported earnings shocks. Meanwhile, US Q3 GDP grew 3.4%, core PCE rose 3.1% year-over-year, indicating the economy and inflation remain robust, making rate cut expectations hard to gain traction. The crypto market has also been affected, with BTC briefly dropping below $80,000 and over $300 million liquidated in 24-hour contracts.
What concerns me more than the Nasdaq $QQQ dropping 0.9% is that AI trading is shifting from "who spends the most" to "who can actually make money back." Tonight's earnings reports from Amazon and Intel will be another test; if the market continues to punish companies with high spending and low returns, both tech stocks and crypto assets will face short-term challenges.The SOL spot ETF lost about $24.8 million in two days, but the coin just broke around 100 and then bounced back. I'll keep an eye on this level first.
According to SoSoValue on 10/27 Eastern Time, the spot SOL ETF had a net outflow of about $19.16 million in one day, and on 10/28 it lost another $5.66 million, totaling about $24.8 million over two days.
The 10/27 redemption was the second largest single-day redemption since last December. The cumulative outflow in October has exceeded about $105 million, while the cumulative net inflow is still around $1.5 billion.
During the same period, the BTC spot ETF continued to see inflows (about $137 million on Wednesday). While BTC is still attracting funds, SOL is losing them.
On OKX, the current price is about 100.3, with a 24h high of about 103.9 and a low of about 99.3. The Beijing opening price was about 101. The price did dip near 99 during the session but is now hovering around 100.
I tend to see institutions redeeming while the spot price tests around 100 back and forth; this is not a bottom-fishing signal. Let's first see if the 99.3–100 range can hold. If it recovers to about 103–104, then we can talk. If the 4H candle closes below about 99.3, the psychological barrier at 100 will loosen.
Do you think 100 can hold, or will it test 96–98 first?
$SOL
$BTC
#VanEck与富兰克林推出含BTC配置的新型ETF 中期选举牵动加密监管 链上金融作为技术革新，在全球多数地区仍处于监管萌芽期。不同于传统金融拥有成熟的合规环境，加密行业的发展高度依赖政策走向。 美国中期选举直接决定了下一届国会的议员构成，这将直接影响2027年新国会是否愿意以及在多大程度上重启对加密货币的市场结构立法。随着选举临近，加密资本正通过各种政治行动组织直接干预选举结果。 Fairshake重金组建亲加密阵营 本轮选举的核心操盘手是由 Coinbase、Ripple 和 a16z 出资成立的超级政治行动委员会（Super PAC）Fairshake。该组织的目标是在美国历史上组建规模最大的“亲加密议员集团”。 在2024年总统选举周期中，Fairshake 及其关联组织筹集并支出了1.3亿至2亿美元，成为当年企业政治支出最大的主体之一。该组织通过在数十场国会选举中投放广告，全力支持亲加密候选人并阻击立场不友好的议员。 俄亥俄选战阻击反加密议员 俄亥俄州参议院席位成为本次中期选举中最受瞩目的关键战役。前银行委员会主席Sherrod Brown被视为加密行业在国会中最大的对手。 2024年选战结果：Fairshake 投入约400Coinbase 昨天收在 162.32，9 月底还是 186.41，一个月跌了 12.9%。同一段时间比特币只跌了 2.8%，股价比币跌得狠多了。美东今天收盘后它出三季报，换成北京时间是明早 4 点多，5 点有直播问答。 每股收益这关我不太担心。华尔街是按调整后的口径估的，大多是每股亏一两毛。可公布出来的 GAAP 数里有一行，是 Coinbase 自己手里的比特币、以太坊按季末价记账。三季度比特币涨了 42.8%，以太坊涨了七成，粗算这一行有 6 亿多美元的账面收益。前三个季度币价往下走，它连着亏了三季，这季反过来，我粗算每股能赚 1.5 到 2 美元。 我真正等的是股东信里的一个数。Coinbase 每次出财报，都会在股东信里顺带报一下这个季度到前几天为止的交易收入。7 月底那次报的是 7 月前 26 天 1.3 亿美元左右，一天 500 万，比二季度一天 660 万慢了两成多。第二天股价跌了 10.6%。 这次要报的是 10 月。10 月比特币从 8.36 万跌到了 8 万左右。Coinbase 交易所几个主要币对的成交额，我粗算比三季度平均少了一成多。好的一面是 10 月币价⚠️Heavy data releases are coming tonight, opening a volatile window for BTC.
Currently, BTC is repeatedly tugging at the 80000 level, facing short-term pressure.
The previous night's Fed decision maintained the status quo, but hawkish voices emerged internally; tonight's PCE is a major macro test.
$BTC #美国9月核心PCE升至3.1%，加息预期仍高
Short-term attention should be paid to pullback risks.
If core PCE exceeds expectations combined with strong GDP, tightening expectations will reemerge. If the price falls below 79700, support levels are at 79000 and 78500;
If inflation data weakens, and the US dollar index and US Treasury yields decline, a recovery rebound will follow, first testing 81300, and if it holds, then 81800.
No need to obsess over data numbers; the market's immediate feedback is more valuable.
The market changes rapidly; anchor key levels in advance and wait quietly for signals.
Follow the trend, maintain discipline.Funding situation: ETF "IBIT single-handedly supports" + $11 billion options expiration gamma trap
ETF—Three consecutive days of inflows, but almost all from IBIT
On October 28, the US spot Bitcoin ETF recorded a net inflow of about $137 million, marking the third consecutive day of inflows, with BlackRock's IBIT accounting for nearly the entire amount ($136 million). The cumulative net outflow in October has narrowed from several hundred million dollars to about $26–27 million. However, the structure of "one entity supporting all, others remaining still" has not changed—the $774 million outflow on October 22–23 has yet to be fully recovered.
Options expiration—$11 billion gamma risk concentrated on the downside
About $11 billion worth of Bitcoin options will expire on October 30, accounting for about one-third of Deribit's open interest. Call options with strike prices at $90,000, $95,000, and $100,000 dominate the market, but if prices remain unchanged, they are likely to expire worthless. The key point: about 70% of the expiring gamma risk is concentrated between $75,000 and $82,000, and the number of put options below $80,000 is more than twice that of call options. If market makers are net sellers of these options, their hedging activities during a decline could exacerbate losses between $75,000 and $78,000.
Liquidation structure: During the decline from October 22 to 24, long liquidations reached $1.23 billion, accounting for 82% of total liquidations in the same period, with leverage-induced selling pressure far exceeding the marginal ETF buying. Long leverage has already been systemically cleaned out once, but the gamma risk of options still accumulates on the downside. $BTC $ETH $ZEC #闪迪存储业务高增长能否延续？ 10月29日美股开盘，三大指数分化显著。道指期货逆势上涨约0.6%，但纳指期货跌超1%，谷歌盘后暴跌近10%成为主要拖累——Q3自由现金流大幅萎缩，市场对AI巨额资本开支的耐心正在耗尽。 加密市场则遭遇了同步的杠杆清洗。 过去24小时全网清算高达5.78亿美元，其中91%为多头——$BTC 贡献2.35亿，ETH 1.84亿。BTC在议息后冲高至81,106，随后数小时内急速砸至79,710，反弹成果悉数回吐，$ETH 同步净流出1.69亿美元。ETH跌至2,310附近，十月现货ETF累计净流出约13.2亿美元，逼近月度纪录，且日线已跌破6月以来的上升通道下沿。 $ETH 是少数逆势品种，但资金信号并不干净。 从低点反弹至1,290附近，空头一度被清算500万美元，但24小时整体资金仍在净流出，成交量仅为7日均量的0.62倍，追高意愿并不坚决。ETF端单日净流入207万美元，体量有限，难以对冲现货端的撤退压力。 微软凭借Azure 48%的增速逆势涨近3%，但难以对冲谷歌的拖累。半导体板块盘前一度反弹，SOXL合约价较盘前参考价上涨超7%。 核心矛盾：谷歌的现金流警报与美联储“按兵不动$SNDK SNDK whale long position liquidation loss of 4.58 million USD reflections.
Even whales with abundant capital can misjudge the market. The average entry price was 1814.45, ultimately closed at 1247.20, a drawdown of over 30%, ending a month-long long position layout with a huge loss.
There are no eternal winners in the market; no matter how smooth the market logic is, risk control must always come first. Also remind yourself not to blindly follow so-called whale positions, as you cannot fully know others' trading plans.
The core of trading is managing position size, controlling drawdowns, and always maintaining respect for the market.
(Personal review, not investment advice)U.S. stocks all opened lower tonight, with none of the three major indexes holding up: the S&P 500 fell 0.55%, the Dow Jones dropped 0.59%, and the Nasdaq declined 1.35%. The real shock was in individual stocks—Google A shares plunged 12.27% in a single day; this is not a correction, but capital voting with its feet.
Among large tech stocks, Apple rose 1.70% and Meta gained 1.28%, becoming rare safe havens; Amazon fell 3.44%, AMD dropped 2.29%, and SpaceX declined 2.24%. All the casualties were overvalued growth stocks.
Chinese concept stocks also showed divergence: Pinduoduo rose 1.20% against the trend, while NIO fell 1.36%, Li Auto dropped 1.67%, Alibaba declined 1.70%, NetEase fell 1.76%, and XPeng dropped 2.25%.
This combination indicates not that any single company is in trouble, but that the market is repricing future cash flows. When interest rate expectations rise, long-duration assets are the first to be cut. High-beta risk assets like $BTC and Ethereum tend to show amplified correlation with the Nasdaq on nights like this; with the Nasdaq down 1.35%, the crypto market often falls even more sharply, and leveraged positions are most vulnerable to cascading liquidations at such times.
Therefore, the short-term key is not to guess the bottom but to see if the Nasdaq can stop falling. If the Nasdaq remains unstable, every BTC rebound is just a retracement; if the Nasdaq stabilizes, that signals a joint recovery of risk assets. Keep positions light and wait for confirmation.
Watch: BTC, ETH, SOL1. The hardest fact today: All 14 B tokens are trading at a discount. Comparing the mid-price of B sample spot with the mid-price of the same-name perpetual contracts one by one, all 14 targets show negative premiums; none are at a premium. The deepest discounts are: Advanced Micro Devices -0.141%, Triple Nasdaq ETF (TQQQ) -0.115%, Google -0.109%; the shallowest is Berkshire Hathaway Class B -0.004% (almost flat). The average discount is about -0.075%. Meaning: The USDT perpetual pricing leads the spot B tokens, and the market's answer is "on-chain certificate selling pressure outweighs perpetual longs." Those passively taking the spot side are paying for liquidity premium. 2. Who is bleeding, who is supporting the market (sorted by trading volume) · Google B token $294.25, 24h -9.894% (perpetual $294.55, -9.860%), trading volume $34.5 million, ranked first overall, the biggest price discovery source today. · Nvidia B token $213.26, -2.376%, trading volume $12.42 million. · MicroStrategy B token $140.64, -0.846%, trading volume $12.12 million, discount only -0.021%. · Tesla B token $399.80, -2.060%, trading volume $4.78 million. · Robinhood B token $89.41, +2 Tonight Coinbase will release its Q3 earnings report, with the market predicting a 65% chance of exceeding expectations.
But what really matters is not how much it earned this quarter, but whether Coinbase can break free from the exchange fate of "making money in bull markets and struggling in bear markets" after acquiring Deribit.
In the past, Coinbase mainly relied on spot trading fees: the better the market performs and the more frequent retail trading is, the more it earns; when the market is quiet, revenue quickly shrinks.
Deribit fills exactly the gap it lacked most. Coinbase is strong in the US market, spot trading, and compliance, while Deribit excels in the global market, institutional users, and crypto options. After combining, Coinbase now covers spot, perpetuals, futures, and options, upgrading from a retail spot exchange to a global crypto financial infrastructure.
Tonight's earnings report will focus on three key data points:
1. Whether spot trading revenue can stop declining;
2. Whether Deribit can bring incremental derivatives volume;
3. Whether USDC-related revenue can continue to grow.
However, the unified platform integration of Coinbase and Deribit was only completed on October 1, so Q3 is more like a "pre-integration baseline," making management's guidance for Q4 even more important.
Coinbase is transforming into a "crypto version of Goldman Sachs" covering trading, stablecoins, and institutional services.
#Coinbase整合Deribit，Q3收入能否改善？ $xNOW Many people look at a project and first focus on the token price and trading volume.
But I believe that besides market data, one should also understand what the project itself aims to do.
STAK is a public chain project focused on privacy, security, and decentralized infrastructure. We hope to gradually advance anonymous privacy wallets, anonymous SocialFi, anonymous DEX, and subsequently a privacy mainnet.
Compared to only discussing token market trends, I prefer everyone to understand the project's technical direction and actual development progress.
Our ecosystem token is SAK. Everyone is welcome to search and learn about it, and rational discussions are encouraged.CORE: A public chain with a TVL of 3.82 million and daily trading volume of 900 USD, ranked in the top 200 by market cap
A stark contrast in data is presented to the market: the CORE token's market cap still firmly holds a position within the top 200 of all tokens, but the native DeFi locked assets on the Core chain have dwindled to only 3.82 million USD, and the on-chain DEX daily trading volume has dropped to as low as 900 USD. There is a severe mismatch between market cap size and actual on-chain activity. Many people easily confuse two completely independent data sets: the BTC staking assets supporting the BTCFi narrative are not the DeFi funds within the Core chain. The BTC used to participate in the Satoshi Plus consensus is locked on the Bitcoin mainnet through CLTV time locks; these assets have not crossed over into Core chain DeFi contracts. The 3.82 million TVL and 900 USD daily trading volume represent the true vitality of the Core chain DeFi ecosystem. This data indicates that on-chain DeFi funds have largely fled, liquidity is exhausted, slippage is huge, and almost no users are willing to conduct lending or exchange operations on the Core chain. On-chain fee income is nearly depleted, making the foundation's envisioned value flywheel of fee buybacks for CORE difficult to realize. Of course, the project has not completely collapsed; the BTC staking narrative and institutional LST products are still progressing. But relying solely on the consensus layer staking narrative to support market cap while the on-chain application layer is nearly in shock is a very high warning signal. Coupled with the continuous retreat of independent validators and 69 million ghost tokens looming overhead, the market cap is a premium leftover from the bull market, and on-chain trading volume is the real current answer of the ecosystem.The evening market overall is slightly volatile and weak, with BTC currently priced at 80105.1, a slight drop of 0.52%. The market has entered a grinding phase, with bulls and bears temporarily tugging. ETH follows the broader market closely, slightly declining around 2322, showing strong correlation.
Most mainstream coins are weakening in sync, except OKB, which is slightly up against the trend, showing independent movement and resilience; SNDK has a relatively larger drop and more aggressive volatility.
Currently, there is no clear one-sided direction; it is a choppy consolidation market. This kind of market has a high risk of stop-loss hunting back and forth, so do not rush to heavily chase positions. Be patient and wait for a directional breakout, and control your position size "A 14.85% buffer against the daily fluctuations of $HYPE — this is the riskiest part of this trade."
$HYPE 50x leverage, from 79.137 to 90.888, +742.44%. Conversely: it only needs to pull back about 1.48% for that 742% gain to vanish completely.
What does 1.48% mean for $HYPE? A normal downward wick, or even a large sell order on the order book. In other words, this trade doesn't require any fading of positive news, a trend reversal, or even someone deliberately shorting — a purely technical correction is enough to wipe it out.
50x leverage magnifies 14.85% into 742%, but it also magnifies 1.48% into zero. It offers you huge returns but is always ready to take them back.
The market itself is holding up: price is running high. But the key support below is not far away.
So I never decide to exit based on "how much I've earned," only on how far the price is from my cost line. 14.85% looks like a buffer, but altcoin fluctuations never make sense.
The only move: push to break even, at worst lock in zero, and no longer increase exposure. $BTC $ETH #美国9月核心PCE升至3.1%，加息预期仍高 CORE ecosystem status: BTC re-staking stands alone, other protocols collectively inactive
The CORE ecosystem shows an extremely fragmented pattern: the BTC re-staking track solely supports the entire BTCFi narrative facade, while the vast majority of native DeFi protocols such as on-chain DEXs and lending continue to see capital outflows, nearly collectively inactive ✅ The standout BTC re-staking relies on the self-custody BTC staking mechanism based on the Satoshi Plus consensus, combined with institutional cooperation and liquid staking certificate SolvBTC.CORE. The re-staking track remains the only highlight of the ecosystem and is the core focus of the Core Bitcoin Grid strategic bet. Users lock BTC to participate in consensus staking to earn CORE rewards, forming the ecosystem's most core narrative asset ❌ Other protocols are collectively hemorrhaging:
TVL and trading volume of lending and trading protocols like Colend and DEXs continue to collapse, with DEX daily trading volume only a few hundred dollars and on-chain active users fewer than three digits. Most users participating in BTC staking only earn token rewards and do not engage in lending or exchange operations on the Core chain; staking users and DeFi users are completely separate groups. Core risk: relying solely on the single re-staking track makes it difficult to support a complete ecosystem value flywheel. If lending, trading, and other supporting protocols remain inactive, on-chain fee revenue cannot scale; combined with independent validator withdrawals and 69 million ghost tokens looming, even if BTC staking maintains volume, the ecosystem's single-track risk is very high, and competitors in the track are continuously vying for BTC re-staking market share $DYDX
Perpetual futures platforms operate in a demanding environment where traders can shift venues rapidly in search of deeper liquidity, better execution, and lower costs. dYdX must compete on the complete trading experience, not merely its decentralized architecture. Open interest and volume can indicate activity, but neither guarantees durable demand. Market share, liquidity quality, and incentives deserve close attention when assessing the platform’s competitive position.$VRT, will AI server expansion first be bottlenecked by power supply and cooling? Samsung and SK Hynix's performance confirms strong AI hardware demand, but data center deployment is still limited by power, cooling, and delivery cycles. If orders turn into scheduled deployments and service revenue increases, infrastructure suppliers can fulfill demand; if grid connection is delayed or customers cut capital expenditures, backlog orders may not immediately translate into revenue.Term Structure Radar
$BTC mark shows positive basis with a significant shrinkage in the best bid-ask spread. Near-month annualized +7.69%, far-month annualized +5.93%, near end is more expensive; mark near-far spread +1.78%, best bid-ask spread for buy near sell far +0.44%. Positive basis, best bid-ask spread shrinks.
$SOL mark basis is positive, but the best bid-ask spread for buy near sell far is inverted. Near-month annualized +1.9%, far-month annualized +0.44%; mark near-far spread +0.03%, best bid-ask spread for buy near sell far -1.39%. When inverted, trading costs will consume the entire mark spread.$EGLD
Scaling a blockchain is not just about processing transactions; it is about creating an environment where applications can attract users without sacrificing usability. MultiversX has pursued sharding as part of its scaling approach. The harder challenge is turning technical capacity into sustained economic activity. Developer retention, application quality, and organic demand will help determine whether network capabilities translate into lasting ecosystem value.The parent company of the NYSE is entering the market, $HYPE rose 10% in one hour
The hardest news today is not in the crypto circle, but on Wall Street.
Intercontinental Exchange ICE, the parent company of the NYSE, plans to cooperate with Trade.xyz to build a US perpetual contract market on Hyperliquid, and also intends to take a stake in Trade.xyz. Note, this is a plan and still requires regulatory approval, it is not yet launched.
But the market does not wait for approval: within half an hour of the news, 12 whale wallets opened $HYPE positions worth over $1 million, 9 went long about $29.32 million, 3 went short about $8.04 million, with a long-short ratio of about 3.64 to 1.
$HYPE is currently about $91.9 (Beijing time 21:26), opened 24 hours ago at about $80.3, rising more than 10% within one hour to break through $87, with an intraday high of $92.1.
On the other hand, it is worth mentioning: in the past 5 days, a mysterious whale just sold 694,000 $HYPE, about $53.27 million. One side sold $53.27 million in 5 days, the other opened more than $52.7 million in long positions in a few hours—tonight's drama, both sides have placed heavy bets. $STX
Bitcoin’s ecosystem offers opportunities beyond simply holding BTC, but expanding its utility requires balancing innovation with security and usability. Stacks aims to bring smart-contract functionality to Bitcoin-linked applications. Its broader opportunity depends on whether developers can build products that attract real users without making the experience unnecessarily complicated. Brothers, the evening data is here!!! If you find the text too long, you can just look at the charts!
$BTC
- Liquidation fuel: Short positions accumulated $613M above, long positions $362M below
- OI $46.7B, intraday $47.4B → $46.4B → $46.7B; BTC count 676,761 coins, 5-week high, price fell while OI rose 9.2%
- Fee rate +0.0061%, recovering from midday low of 0.0047%
- 24h liquidations $290M, longs account for 62%; today's peak was short liquidations at $50.6M/hour at midnight, long liquidations $84.3M/hour in the morning
- Whale (Hyperliquid) net short, first time since March, this time, short positions should explode!
#美国9月核心PCE升至3.1%，加息预期仍高 #Strategy财报前瞻：BTC账面收益大幅反弹 #闪迪存储业务高增长能否延续？ $ETH $ZEC The BTCFi narrative of CORE is very appealing, but on-chain data says: users haven't arrived yet
The story of BTCFi's trillion-dollar idle Bitcoin assets sounds highly imaginative, but the real on-chain activity tears apart the harsh reality: funds participating in BTC consensus staking do not equal active DeFi users. Currently, only a small amount of BTC participates in Satoshi Plus consensus staking, while the daily trading volume on Core chain DEX is extremely low, and daily active DeFi users are less than triple digits. Many users have already withdrawn from on-chain DeFi protocols. Many BTC stakers are only aiming to earn CORE token rewards and do not actually engage in Core chain DeFi operations like swapping or lending. The consensus stakers and on-chain DeFi active users are two completely separate groups. ✅ Narrative highlights: Satoshi Plus self-custodied BTC staking, institutional LST products, SatPay concept — this BTCFi story has strong appeal in a bull market narrative and is a selling point that differentiates it from other BTCFi projects. ❌ Biggest shortcoming: the attractive narrative has not yet translated into sustained active on-chain users. Without stable DeFi users, on-chain fee revenue cannot be continuously generated, making it difficult for the foundation's envisioned revenue buyback value flywheel for CORE to function. Coupled with the continuous withdrawal of independent validators and the looming risk of 69 million ghost tokens, relying solely on narrative makes it hard for the token price to break into a major rally. For spot trading, I would monitor whether XP can hold its support area, whether buying volume increases, and whether it starts making higher highs and higher lows. Avoid buying simply because the price is much lower than its all-time high.
For a longer-term investment, monitor actual network transactions, DeFi usage, exchange liquidity, circulating supply, and whether the project delivers its roadmap.英特尔昨天收在 95.53，比 6 月下旬的高点低了三成多。可从 10 月 22 日的低点算，四天又反弹了 11.7%。美东今天收盘后它出三季报，换成北京时间是明早 4 点多，5 点开电话会。 每股收益这关看的是调整后的数，到 0.41 才算超。英特尔 7 月给自己的指引是 0.38，华尔街估 0.40 左右。它过去 8 季的营收，每季都高过自己指引的中值，所以多赚 3 分不算难。我估过线的可能六成，没敢给更高，是因为电脑这块。微软昨晚说，7 到 9 月卖给电脑厂商的 Windows 收入比去年同期少了 27%，厂商和渠道都在清库存。英特尔一半多的营收是电脑芯片，厂商少拿货，它这季就很难像上季那样大超。 我更在意的是第二天。过去 8 次财报，英特尔第二天 3 涨 5 跌，开盘以后的走法挺有规律。开盘就大跌的 3 次，收盘一次都没收回来。开盘涨不到 1% 的 2 次，收盘都跌了，7 月那次开盘还是平的，收盘跌了 7.9%。开盘涨 4.9% 的那次，收盘只剩 0.3%。只有开盘就涨了 7% 和 23% 的那两次，才守住了。 所以决定第二天的，还是四季度指引。华尔街估四季度营收 170.6 Can CORE's TVL still recover? The key depends on this quarter
The native DeFi TVL on the Core chain has shrunk significantly, and DEX daily trading volume is sluggish. The biggest market question is whether TVL still has a chance to recover. This quarter is a very critical verification window. It is necessary to distinguish again: BTC staking locked by Bitcoin mainnet CLTV and Core chain DeFi TVL are two separate asset sets. The TVL recovery everyone expects refers to the capital inflow back into the Core chain DeFi ecosystem. ✅ Three major verification points this quarter 1. Progress of institutional BTCFi product implementation: Whether the Bitcoin Power Grid strategy can attract more institutional funds to enter, driving the circulation of liquid staking assets like SolvBTC.CORE on the Core chain, is the most important driver for TVL recovery 2. Independent validator data: If independent validators continue to withdraw, the risk of network decentralization cannot be eliminated, and large funds will not enter on-chain DeFi protocols with confidence, making TVL recovery difficult 3. Ghost chip selling pressure: If 69 million ghost chips are dumped in this quarter, it will directly hit market confidence, and ecosystem funds will not dare to flow back ❌ Core risks Even if the amount of BTC staking remains stable, if on-chain DeFi protocols continue to lack new users and funds, relying solely on narrative cannot drive TVL growth. Moreover, competitors in the same track like Babylon continuously poaching BTC staking users will further compress CORE's growth space.$AAVE
A lending protocol’s real strength is revealed when market conditions become uncomfortable. For Aave, the important question is whether lenders continue supplying assets and borrowers continue finding value in its markets during periods of volatility. Sustainable borrowing demand, healthy collateral ratios, and effective liquidation mechanisms matter more than short-lived attention. DeFi adoption becomes meaningful when users trust the infrastructure enough to rely on it repeatedly.Polygon has connected the entry point of Open Money Stack to Solana.
This means that businesses only need to integrate once into their own systems to accept bank transfers, card payments, cash, and even crypto assets. The money received is directly converted into USDC, USDT, PYUSD, or $SOL on Solana, stored in custodial or embedded wallets, without the need to build on-chain infrastructure themselves.
The payout side is also connected: relying on Polygon Trails to route and exchange between Solana, Polygon, Ethereum, Base, and TRON, finally settling back to bank cards, online cash points, or wallets.
The real highlight is the stablecoin payment channel, not just another cross-chain bridge. What businesses want has never been "I support ten chains," but rather "collect money, exchange money, and payout all in one go." Solana transactions are cheap and fast to confirm, suitable for small, high-frequency payments; Polygon holds enterprise clients and compliance interfaces, each side contributing what they excel at.
PYUSD is also included as an optional asset. The competition among stablecoins has now reached the enterprise payment acceptance layer, no longer just fighting for market share within exchanges. For $SOL, this adds a new real-world use case. Going forward, it depends on whether enough payment providers connect and whether businesses are willing to switch their settlement main chain.The stronger the rebound, the more it looks like a bull trap? Before the Fed news, should shorts be cautious or keep waiting for a waterfall
From a short-seller's perspective, this current rebound looks more like a liquidity game before the news rather than a confirmed trend reversal. $BTC is currently around 80,088 USDT, down 0.99% in 24 hours; $ETH about 2,323 USDT, down 0.91% in 24 hours. Although there was some support during the session, BTC's daily MACD is still a death cross, ETH's supertrend remains bearish, and both prices are below the MA7.
More importantly, volume has not significantly increased: BTC volume is only about 0.60 times the 7-day average, ETH about 0.59 times. Without sustained incremental volume to support the rise, it is easy to become a liquidity grab after a short squeeze followed by a pullback.
My short positions are not guaranteed winners, so my position size is small. If the price continues to surge, I won’t stubbornly hold; I keep flexibility to adjust the rhythm after volatility subsides. Before the Fed news is released, the real direction may not yet be revealed, so first respect the risks and the market.
#美国9月核心PCE升至3.1%，加息预期仍高 $ORCL
Oracle had a big bullish candle of 10.7% last night. My first reaction wasn’t positive news, but that management simply restated the fiscal year 2030 revenue target of $225 billion — and the market actually bought it.
Institutions conveniently offered support: Bernstein reiterated a target price of 325, Barclays gave 252, closing at 144.54. This morning, US stocks pulled back a bit pre-market, and ORCL tokens on OKX are still hovering around 144, having touched a high of 148.6.
Looking at Microsoft the same night, it issued dollar bonds for the first time since 2017, at least $25 billion, explicitly saying the funds are for capital expenditures. While claiming AI spending will soon pay for itself, it’s issuing debt to buy chips; meanwhile, tech stock shorts have piled up to near a five-year high. Whether the accounts balance out depends on next quarter’s cash flow, but the market is already optimistic.
#美国9月核心PCE升至3.1%，加息预期仍高 If this shorting wave starting from 81500 is just a mid-trend divergence rather than a top distribution, then what we should really focus on now isn't the candlestick chart, but the hidden line across markets. Guess what the market is truly pricing in—is it BTC's own story, or the shift in external risk appetite? When I watch the market, I have a strong feeling: this round of bearish sentiment didn't come late, but its rhythm is "twisted." On one side, the Federal Reserve is holding steady, with rising disagreements about a December rate hike; on the other, BTC is repeatedly tested above 81500, while ETH hasn't shown independent strength. The friend who shorted above 81500 with a small position, waiting patiently and not rushing to close, is essentially saying: I'm not sure if this is the top, but I am sure the odds here are turning unfavorable. A small position isn't cowardice; it's leaving room for error correction, which I quite agree with. Looking across markets, the swings in interest rate paths first affect the discount expectations of the dollar and risk assets, then transmit to the marginal buying in crypto. BTC, as the "anchor" of risk appetite, once its upward momentum weakens, ETH and altcoins are more likely to shrink volume first and then weaken, amplifying the difference in elasticity between sectors. The market now is trading more like the "expectation of rate cuts being delayed" rather than an independent narrative of any coin. In other words, the pressure above 81500 may not be how strong the bears are, but that the bulls are unwilling to raise prices further here. The bullish path remains: if subsequent data shifts rate hike disagreements back toward dovishness, the dollar falls, and BTC stands back above the range with volume, then this bearish wave will turn into a consolidation within the trend.$SOL
From January to October 27, stablecoins on Solana transferred 5.76 trillion USD, while Tron transferred 6.94 trillion in the same period. Money moves on-chain every day, but companies still face the old problem: how money comes in and how it goes out.
Today Polygon announced that Open Money Stack supports Solana. This is a complete money pathway laid out for merchants—bank deposits, stablecoin exchange, cross-chain scheduling, and then payment back to bank cards, all connected through a single API, so end customers never have to deal with bridges. Among the first clients is Kira, which does cross-border payments.
Coincidentally, a week ago Solana completed the Alpenglow upgrade, reducing transaction finality from 12.8 seconds to 150 milliseconds. Infrastructure is catching up, and money pathways are being laid out by newcomers. I remember these two ecosystems fiercely competing for developers back in the day; now Polygon comes to build a wallet for Solana. In the end, business decides the camp, and I never once bet correctly on who would beat whom.
#美国9月核心PCE升至3.1%，加息预期仍高 Don't be fooled by the "full staff regularization"! The truth lies in the scale of funds⚠️
Three major coin ETFs simultaneously turned positive
It looks like a collective recovery
But in reality, the strength varies greatly, with many traps!
$BTC
Single-day net inflow of 525 million
7-day cumulative +513 million
Institutions are clearly replenishing
But the outflow gap from the previous two weeks has not been filled
Key reminder:
If subsequent inflows quickly decline
It's just a one-time oversold replenishment
Not a complete trend reversal to bullish
$ETH
Single-day inflow of 14.95 million
Ending a continuous 5-day outflow decline
But internal funds offset each other
The quality of turning positive is very poor
Still net outflow over 30 days
Short-term sentiment recovery
≠ market reversal
$SOL
Single-day only 585,000
Almost negligible compared to market cap and daily trading volume
The market deliberately exaggerates the "simultaneous positive turn" narrative
The real bullish signal is very weak
Core conclusion:
Although institutions are returning, the quality is seriously uneven
Don't look at direction, only look at sustainability!
Let's talk:
Do you think this ETF inflow is a short-term bull trap or a real reversal start?
For record-keeping only, not investment advice
#美国9月核心PCE升至3.1%，加息预期仍高 #Strategy财报前瞻：BTC账面收益大幅反弹 #闪迪存储业务高增长能否延续？ #Samsung's Q3 Operating Profit Hits Record High, Net Profit Falls Short of Expectations Samsung's earnings report is quite typical, with both revenue and operating profit reaching new quarterly highs. HBM4 drives strong growth in the memory business, and the fundamentals of AI storage remain very strong. However, the stock price plunged because the "good news was priced in advance." Market expectations had been set too high, and the final net profit fell short of estimates, prompting investors to take profits. Short-term sentiment is under pressure, while the long-term outlook depends on the sustainability of HBM orders and the pace of subsequent capacity expansion. The competition in the memory chip market cycle will become increasingly intense.Gold, an oversold rebound is not a reversal. Intraday early morning setup to short at the 4068 level rebound,
During the day session, it fell to the 4015 level, a drop of 53 points. Going long can only lead to defeat,$HUMA
On-chain credit is compelling because it attempts to connect blockchain-based capital with real payment and financing activity. Huma Finance operates in this broader decentralized finance category, where growth depends on more than attractive yields. Credit performance, borrower quality, liquidity management, and transparent risk controls will determine whether the model can remain resilient when financial conditions become less favorable.zkLink: Block production has been suspended and withdrawals are closed. A 20% white hat bounty will be awarded if the attacker returns the funds.
If you are using affected products, first check the announcements from the project team and security agencies, and temporarily suspend related operations. Do not click on unfamiliar "wallet repair" links, and never provide your mnemonic phrase or private key.
$ETH ,
#ETH $BTCSKHYNIX/USDT｜Earnings Surge, How to Position for Short-Term Long and Short?
News: SK Hynix Q3 revenue exceeded 100 trillion KRW, operating profit increased by 632% year-on-year, with strong demand for HBM4 and AI storage. However, after the earnings rally, watch out for profit-taking.
Key Levels:
Support: 1,113—1,125, 1,090—1,100
Resistance: 1,165—1,185, 1,200
Long Plan: If it stabilizes near 1,125 on a pullback, you can try a light position, targeting 1,165—1,185; a volume breakout above 1,185 looks toward 1,200. Be cautious and stop loss if it falls below 1,110.
Short Plan: If it rebounds to 1,165—1,185 and faces resistance, you can try a light position, targeting 1,140, 1,125; if it effectively breaks through 1,185 and holds, stop loss and exit promptly.
$SKHYNIX
#美国9月核心PCE升至3.1%，加息预期仍高 $ONDO
Tokenized real-world assets are only as useful as the financial products and access they enable. Ondo Finance focuses on bringing traditional financial exposure onto blockchain infrastructure, but expanding the category does not automatically guarantee sustained token demand. Product adoption, regulatory clarity, liquidity, and the relationship between protocol growth and ONDO’s actual token utility deserve separate evaluation."Tonight at 4:30, the crypto rebound faces a retest"
Bitcoin reclaimed 80,000 yesterday and stood above 81,172 today. Honestly, this has little to do with crypto itself. What’s driving it is the storage chip sector: SK Hynix’s record-breaking earnings report and announcement that memory supply will remain tight until 2030, KOSPI up 6.63% in one day, with risk appetite spilling over into the crypto space.
And the next test for this sector is tonight.
SanDisk (SNDK) will release its Q1 FY2027 earnings after the US market closes on October 29, with a conference call at 4:30 AM Beijing time tomorrow morning. It just rose 7.66% on October 28 to close at 1,404.77, but is still about 40% below its 52-week high; the options market prices the earnings volatility between 8%–14%, with a reference range from 1,090 to 1,400.
The real issue isn’t EPS. Guidance is $44–46, revenue $10.3–10.8 billion, market consensus $45.22 — this report isn’t about the numbers, it’s about the doubt whether "storage prices have already peaked."
Just look at the slope: DRAM contract prices rose nearly 80% quarter-over-quarter in Q2, about 40% in Q3, and are forecasted to rise only 10%–15% in Q4; NAND 15%–20%. Prices are still rising, but at a slowing pace. SanDisk’s stock rose 858% in the first half of the year, Bernstein raised its target price from 1,700 directly to 3,000. The slope is flattening, valuation accelerating — this gap is the risk itself. Morgan Stanley’s June report "Chipflation" already hinted that prices and profits may be near the peak of this cycle.
Why does this matter to crypto? Because the funding channel for this rebound is "AI capital expenditure is fine → risk appetite returns → buy high beta." Storage is the upstream price setter in this chain. If it collapses, the channel breaks, making it even harder for Bitcoin to break through the 81,911–82,000 moving average wall above.
Key levels remain: above 82,000, below 80,000 and 79,500.
Discussion: Is the storage price increase "evidence" of AI capital expenditure, or the "last inflation"?
I lean halfway to the latter: the price increase itself is real, but the acceleration of the price increase has passed. The market never buys "expensive," it buys "more expensive."
Poll: After SanDisk’s earnings tonight, what worries you more — A. Guidance misses expectations, AI narrative breaks; B. Beats expectations but gross margin peaks, stock rises then falls; C. Everything goes smoothly, crypto surges to 82,000; D. No relation to crypto, don’t force the connection.
I choose B. Western Digital fell about 9% two days after beating expectations last week; this script just played out.
Not investment advice, risk on you. #MarketAnalysis$LINK
Chainlink addresses a fundamental blockchain limitation: smart contracts often need reliable information from outside their own networks. Price feeds, cross-chain communication, and other oracle services make that infrastructure potentially valuable across multiple sectors. The analytical challenge is connecting service adoption to economic value captured by LINK. Infrastructure importance and token demand are related questions, but they are not automatically the same thing.Last week, Solana captured 81% of the trading volume on multi-chain trading terminals, the highest share in 17 weeks. At the end of August, this figure was around 57%. Trading terminals refer to platforms like Axiom and GMGN that route trades to DEXs, with users favoring high-frequency and Meme coins, so this share reflects the retail segment's activity. In the same week, the spot DEX market share was 38%, but this share was boosted due to a 36.5% contraction in the overall weekly market volume.
Another figure moves in the opposite direction. According to data compiled by Bloomberg, Solana's share of on-chain perpetual contract trading volume has dropped from 17% to 6%. On the spot side, it ranks first in DEX volume for the fifth consecutive week, but on the derivatives side, competitors like Hyperliquid have taken a significant portion.
Putting these two facts together, Solana's strengths are clear: Meme coins, launch platforms, and retail spot trading, while its weakness lies in more professional derivatives trading. The Bloomberg report mentioned that Solana aims to pivot towards stablecoins and tokenized assets, with JPMorgan, Morgan Stanley, Standard Chartered, and Visa already operating on-chain.
$SOL has fallen nearly 20% this year, with ETFs seeing net outflows for three consecutive weeks. Whether the transformation story can be supported by the price remains unanswered yet. Brothers, today's market is really crazy 😂
The Fed stayed put, but two people insisted on raising rates, and the market was totally confused. BTC is hovering back around 80,000, ETH is wobbling along too. Tech stock earnings reports tanked, and the crypto world immediately started trembling.
ETFs are still pulling in money, but prices just want to slide down — a classic case of "money is coming in, but people are panicking."
Where are you now:
A. Ready to bottom-fish
B. Just lying low and watching the show
C. Already cursing out loud
Drop your choice in the comments~
(Content is for discussion only, not investment advice)
#BTC #ETH #CryptoMarket