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Brothers, has Bitcoin pretty much bottomed out this time?
Bitcoin has been tossing and turning again, hitting a low of $76,152 intraday, with the 365-day moving average around $77,196, repeatedly contested by bulls and bears. Now the price has fallen back below the moving average!
This bull just lifted its head, only to be pushed down again! However, my judgment about the early stage of the bull market hasn't changed for now. The early bull market is not a straight rise; repeated pullbacks and oscillations test patience.
Currently, the upper edge of the weekly bull market support zone is around $76,565. Next, it depends on whether it can hold and quickly reclaim the 365-day moving average. Hopefully, this is just a deep squat in the early bull phase, not digging a deeper hole!
Continuing to observe, I remain optimistic about the upcoming market! $BTC Will the disaster of October 11 happen again this time? Back then, the liquidation volume of long positions was 16.8 billion, hopefully this time it’s just a bull retracement, not the bull disappearing. Keep in mind, BlackRock's IBIT currently holds 815,000 bitcoins, worth about 63 billion USD, but the vast majority of these coins are custodied by just one company, Coinbase.
The most critical issue is that BlackRock has not purchased separate insurance for IBIT’s bitcoins; meanwhile, Coinbase’s entire commercial crime insurance coverage is a meager 320 million USD (shared among all clients), and the custody agreement clearly states: the compensation limit for each cold wallet address is only 100 million USD.
The terms explicitly state that if one day Coinbase, like Binance today, is hacked through internal operations computers and tens of billions of dollars are stolen and unrecoverable, the 320 million insurance won’t even cover a fraction of the loss. The remaining gap will not be compensated by BlackRock or Coinbase, and all losses will be proportionally borne by the IBIT shareholders themselves.
In short, if you think buying an ETF means escaping the crypto world, in reality, you’re just moving your assets from Binance’s hot wallet to Coinbase’s custody pool. Even if Binance gets hacked, they can cover losses fully with their own profits and the SAFU fund, but Wall Street’s exemption clauses have long washed their hands of responsibility.Is the "zero downtime" handover a technical victory or a PR narrative? Unveiling the behind-the-scenes of Core's founding team stepping back
Core officially announced that Rich Rines and Brendon Sedo have stepped down from their core DAO positions, and the block production rights have been fully transferred to independent validators, with zero network downtime throughout the process, defining this as a decentralization milestone; however, market controversy continues to ferment: is this smooth transition proof of a mature underlying architecture, or a narrative packaging created to resolve on-chain turmoil? The timeline hides key background: this personnel and power transfer occurred after an abnormal validator block reward vulnerability and an emergency hard fork event. Previously, some validators received CORE rewards far exceeding the protocol's set amount. After the vulnerability was exposed, multiple exchanges imposed deposit and withdrawal restrictions, with South Korea's Bithumb even marking CORE as a trading warning asset. Despite the project submitting multiple rounds of explanatory materials, the risk was still deemed unresolved, and it was officially announced that CORE would be delisted on November 30, with liquidity downside looming. The project is currently under dual pressure of doubt from exchanges and the community. From a technical perspective, DAO nodes gradually exited the block production queue, switching to 31 independent validators to take over network production, with no block interruptions or downtime incidents on-chain throughout, proving that the Satoshi Plus consensus architecture has the stable operational capability for node主体 switching. The "zero downtime" itself is a verifiable technical fact. But the controversy lies in the transfer boundary: the founding core personnel only withdrew from DAO management roles and have not completely exited the project, retaining early large token stakes A net profit of $19.53 billion is not a beautiful queen promotion, but a game where software pawns are deliberately sacrificed to the opponent, completing a checkmate with $20.91 billion in digital asset income—yet on the other side of the board, Bitcoin's pawn front is retreating.
This strategy company's quarterly report starts by focusing on the king's wing of digital assets: record net profit, diluted earnings per share of $44.75, with the book's gains and losses almost entirely written by the valuation changes of Bitcoin holdings. Software revenue fell 3% year-over-year to $125.4 million, showing looseness like a central pawn; while there is still heavy firepower on the surface, the underlying pawn chain is no longer solid. A grandmaster seeing this situation would first ask not "how much was won," but "which line was exchanged for this advantage": the operating front hasn't expanded, but asset revaluation has pushed the king forward to the open line early, the profit offensive is fierce, and the rook protecting the king hasn't fully returned.
The real winners are not those who play step by step, but those who have calculated the position twenty moves ahead before placing a piece. Digital asset income is a tactical sacrifice that can tear open the opponent's defense line but also sharply increases one's own time pressure; if Bitcoin's price weakens, next quarter's profit elasticity will be like a hanging pawn in the endgame—seemingly free but actually requiring piece support for every move. The slight decline in software revenue is not fatal, but it reduces the convertible initiative in this game, effectively dragging the long game into an exchange rhythm the opponent is better at.
Looking at the linkage with tokenized US stock XCH, don't treat it as an isolated flank pawn. The main battlefield is the strategy company's Bitcoin exposure; XCH is just an external piece being pulled along: when the parent game's valuation offensive is strong, it easily follows with beautiful tactical moves; when Bitcoin retreats, its thin liquidity and quick linkage expose weaknesses on the open line first. Observing this linkage requires watching piece coordination and pressure order, not just shouting checkmate at a single price line. The financial report is a strong attack on the king's wing; XCH's volatility is the echo on the rear wing; the sharper the echo, the more unstable the pivot in the center of the board.
My judgment is simple: this is a midgame advantage gained by sacrificing pieces, not a checkmate endgame; as long as Bitcoin retreats one more step, the king on the profit statement will be exposed on the open line. #strategyq3profitsurges Valuing a company with a revenue growth rate of over 90% at a high multiple and hanging it in midair is like building a 400-meter tower on soft soil—the flashier the blueprint, the more I first check if the core tube has any cracks. The valuation question for Palantir in Q3, in my view, is not about the level of the P/E ratio but whether the structural system holds: Q2 revenue grew 90% year-over-year, and U.S. commercial revenue nearly one and a half times—that's an astonishing construction speed, but speed never equals structural safety.
Orders are the load-bearing walls, revenue is the floor slabs, profit is the concrete rebound value, and valuation is just the curtain wall area. The curtain wall can be made transparent and light only if the core tube can withstand all horizontal shear forces. The market's ultra-high expectations for Q3 are like the most adverse wind load in a wind tunnel test; if the order backlog is not thick enough, the faster the revenue growth, the easier the floor slabs are to deflect, and if profit falls short of expectations even slightly, the whole building will start to sway. Raising the full-year guidance only pushes the construction schedule forward; the real hidden work inspection depends on whether Q3 orders can be converted into repeatable node stiffness.
Tokenized U.S. stocks are not another independent building; they are an annex structure connected to the underlying assets through a corridor. When the underlying assets shake, the corridor rattles first; the linkage between Microsoft's tokenized target and Palantir's valuation is essentially a redistribution of wind pressure within the same wind field. Financial reports are just the completion drawings; orders are the foundation inspection reports; high valuation is not the original sin, insufficient structural redundancy is. My judgment is straightforward: this is not a matter of valuation level but whether the core tube can pass the load test of Q3 orders; if it fails the calculation, no matter how beautiful the curtain wall is, it is just a decorative panel hanging in the air. #palantirq3valuation Radar echoes just swept over the skies of Seattle, with the first cloud base layer lower than forecast: total revenue rose 12% year-on-year to 201.9 billion, slightly below expectations—not a clear day, but not at the level of an orange severe rain warning either. The real signal is vertical: AWS's cumulonimbus rainfall jumped from 39.9 billion to 45.984 billion in a single quarter, a 39.3% year-on-year increase, marking the sixth consecutive quarter of strengthening updrafts—this is the most intense convective outbreak in the past five years. The pressure trough is deepening, and the warm, moist transport band remains unbroken.
But as someone who has monitored sounding charts for over a decade, I pay more attention to surface runoff. Capital expenditure for the quarter was 75.9 billion, and free cash flow over the past twelve months was negative 42.4 billion—this is meteorologically described as "abundant precipitation but uncontrolled evaporation": strong vapor convergence, very high cloud tops, yet reservoir inflow is negative. To catalyze this rain, the pulses are too frequent. The cost of artificial rain enhancement is accumulating water on the books; the thicker the clouds, the steeper the thermodynamic cost of advance funding. Acceleration and hemorrhaging appear on the same isobar map, a typical strong convective structure accompanied by downburst: the faster the ascent, the larger the destructive radius of the descending airflow.
Looking downstream at the monitoring stations. $xAVGO-type targets share the same jet stream with this front, with wind shear heights consistent—the upstream cloud system strengthens, and downstream first experiences a southerly wind; however, the low-level dew point does not rise synchronously, indicating this wind is caused by dynamic uplift, not local moisture generation. Historically, this structure fears two scenarios most: one is premature convergence of upper-level divergence causing ascent to stall; the other is outflow from a surface cold pool cutting off the warm, moist channel abruptly. So far, radar has not shown echo top collapse, but a V-shaped gap has appeared in the cash flow column.
I don't guess weather from cloud maps; I only look at three things: pressure gradient, moisture flux, and surface runoff. The gradient is still increasing, moisture flux is ample, runoff is negative. Under this configuration, the forecast conclusion can only be: strong convection persists, with localized short-term heavy rainfall, and simultaneous issuance of mountain flood and urban waterlogging risk warnings, both effective simultaneously.
The updraft has not slowed for six consecutive quarters, while surface water levels have declined for seven consecutive quarters—this is not weather, this is climate. #amazonq3awsacceleratesThe hacker not only didn’t leave, but also used DeFi loans to "leverage" to the max with nuclear weapons.
Aave is now a powder keg that could explode at any moment.
The most likely scenario next is:
• The hacker keeps using borrowed ETH to sell massively.
• This causes Aave to trigger liquidations.
• The market panics and falls again, testing the 2,170 level or even lower as mentioned before.
$BTC $ETH Black swan only made a splash? BTC firmly defends 76,000, ZEC approaches previous highs, this round of bears got their faces bruised
I'm bearish, but I'm not blind. Binance's $6.3 billion security breach hit, which in the past would have triggered a chain liquidation waterfall. So what happened? BTC only dipped to 76,300 at the lowest, then quickly pulled back above 77,000 within hours; ETH bounced from 2,171 to around 2,230. This is not a crash, it's just an ordinary negative event quickly absorbed.
What bothers me most is ZEC. During market panic, it precisely caught support at 1,180, steadily pushed above 1,280, with 1,208 support holding firm, and the next target above is 1,350–1,380. Funding rates turned negative, 86% of liquidations were long positions, bears watched excitedly, but the drop didn't even create a decent pit.
I haven't closed my short positions, but I have to admit: this round of negative news can no longer move the price. If ZEC breaks through 1,306 with volume, I won't hold on. Bears aren't dead, they just need to reposition and wait.#US stocks and gold & silver fall sharply together, with risk-averse capital flows diverging The most prominent feature of this round of market action is the failure of traditional safe-haven logic: US stocks, gold, and silver all fell simultaneously. The core reason is the rise in real interest rates combined with cross-market deleveraging. Federal Reserve officials continue to signal hawkishness, raising expectations for a rate hike in December. US Treasury real yields are rising, and gold and silver, as non-yielding assets, face increased holding costs, leading to valuation pressure.
At the same time, many institutions previously held long positions in both US stocks and gold & silver. The stock market decline triggered margin calls, and since gold and silver are more liquid, they were prioritized for sale to raise cash, resulting in a "safe-haven assets sold for cash" sell-off. Silver is more elastic and typically falls more than gold, compounded by weakening industrial demand expectations.
Safe-haven capital has not disappeared but has clearly stratified: funds no longer prioritize buying gold but instead flow into interest-bearing safe assets like US dollar cash and short-term US Treasuries. This is the core of the current capital divergence.
Going forward, focus on two signals: first, when US Treasury real yields will turn; second, whether deleveraging selling pressure has fully released. In the short term, before rate hike expectations cool down, the weak pattern for gold and silver is unlikely to change. Oversold conditions may occur but sustained recovery is unlikely, so avoid blindly bottom-fishing. $BTC $ETH $SOL $BTC is flooded with shouts of "Extreme Fear = Entry". But those who bottomed out at the start of the extreme fear on January 21 this year still had to endure another 33% drop afterward.
Looking back at the Fear and Greed Index over the past 1000 days (from 2024/2):
✅ There were 211 days with an index ≤25, labeled as "Extreme Fear," averaging 1 day every 5 days.
✅ From January to April, out of 87 days, 82 were extreme fear days, during which BTC fell from 89,456 to 60,000.
✅ On all extreme fear days, only 59% saw higher prices 30 days later, with a median further drop of 6.9% in between.
Currently, the index is 30, not even reaching "extreme" yet.
Fear is a weather forecast, not a buy button.
Data: alternative.me Fear and Greed Index, OKX daily chart, not investment advice #美联储官员释放加息信号，12月预期仍存分歧 💥Liquidity drained, leverage is all fuel, this market wave is specifically killing bottom-fishers
BTC dropped directly from 78k to 76.4k
ETH broke below 2200
SOL fell below 95
Altcoins are all wailing
The aftershocks of Binance hot wallet have not yet been digested
US core PCE at 3.1%, rate hike expectations continue to press down
US Treasury yields hold steady above 4.9%
Liquidity continues to drain
Long leverage is the main force's fuel
Looking at on-chain smart money
BTC long-short ratio still leans bullish, positions have not decreased
Retail investors are catching falling knives at 76k
ETH 4h long-short ratio above 3.0
Above 2300 is a pile of trapped positions
Below 2200 is the liquidation zone
Once broken, it’s a stampede
SOL lost the 100-dollar mark
The 99→95 plunge wiped out a large wave of chasing longs
In this market, don’t just ask if you can bottom fish right away
First think clearly: how many times leverage, where to set stop loss
Whales are all cutting losses to survive
Maji’s ETH longs floating loss 1.88 million
HYPE shorts floating loss 5 million
Retail investors all in at 100x leverage, pure money giveaway
Operation reference
• BTC: Light long trial if 76100 holds, if broken look to 74k, strictly no chasing highs
• ETH: If 2200 doesn’t hold, look to 2150, rebound 2280-2300 is escape zone, not add-on point
• SOL: Do not catch below 95, wait to hold 100 before talking reversal
Election expectations combined with macro pressure on top
The market specifically hunts the phrase: I feel it’s the bottom
Deleverage, withdraw coins to self-custody, keep cash ready
Surviving this week is the most important
Are you now watching for stabilization, or already testing positions?
Market review only, not investment advice
$BTC $ETH $ZEC
#美联储官员释放加息信号，12月预期仍存分歧 Whales showing off their positions, the easiest place to be deceived is here: what you copy is their previous move.
Brother Maji just closed his long Bitcoin position, then switched to 25x leverage on Ethereum, holding 2125 ETH. At the same time, he reduced his HYPE long position to 4500 tokens, with 10x leverage.
One add, one reduce, one clear — it looks like expert trading, but the overall position profit is only 0.89%.
That 0.89% is after applying 25x leverage. If followers copied his screenshot from yesterday, they’re probably already asking in the group whether to stop loss today.Binance was hacked for 6.3 billion dollars. I hadn't even finished my instant noodles before I was already thinking there would be an FTX-style waterfall crash... But in the end, Bitcoin only dropped about 2% from the incident until now, and today it climbed back above 77,000.
To be clear, this time it was Binance's own hot wallet that got stolen from; Bitcoin itself is totally fine. They directly covered over 6.3 billion out of pocket, and about 3 billion of the stolen funds have already been frozen. Back during FTX, the money was really gone, and the price dropped 26%, which is a completely different situation.
But don't celebrate too early. In the last 24 hours, 570 million dollars worth of positions were liquidated across the entire network, 70% of which were long positions. Also, a bunch of short-term traders have been cutting losses and transferring over 36,000 BTC to exchanges in one day, which means they can't hold on and are about to run. Bitcoin has already dropped over 8 points in October, and it's very likely to be another red October.
My view: The panic selling wave is basically over, but the hackers still hold 18,000 BTC untouched, spread across 19 addresses. The day they start moving those coins out will be the next spike. The 200-day moving average is around 73,000; if it really breaks below that, I'll honestly admit defeat.
Anyway, my small capital can't handle sharp spikes, so I'll be lightly positioned watching the show these days, waiting for the hackers to make the first move.
$BTC Position changes like this are meaningless if you look at just one trade; you have to look at several trades together.
Brother Maji has done three things in the past two days: closed out his long Bitcoin position, added to his Ethereum position with 25x leverage up to 2125 coins, and reduced his HYPE long position with 10x leverage down to 4500 coins. One closed, one added, one reduced — the direction is very clear: money is moving from $BTC to $ETH.
What’s worth pondering is the leverage. $ETH is at 25x, the highest in the market; HYPE is only 10x and still being reduced. He’s not reducing overall risk; he’s switching targets: concentrating his bullets on a more favored asset, and expressing it in the most aggressive way.
But the paper profit is only 0.89%. This number says a lot. 25x leverage leaves very little room for error, and risking that much to earn less than one percent suggests the BTC position he closed was probably not profitable, maybe even covering losses; the newly added ETH hasn’t yet moved in the right direction.
So don’t take this as "a big player bullish on Ethereum" and rush to go long. He’s restructuring, not harvesting. What you really need to watch is how he handles the 25x leverage next: if he starts to reduce leverage, it means he’s also cautious; if he continues to add, that’s when he has conviction.
The worst thing for copy trading is to catch the middle stage. 2125 ETH is his current position, not his final conclusion."When the panic index was only 30, someone spent 17.24 million USD to buy ETH"
What's the market sentiment today? Panic and greed index at 30, Binance hacked, BTC dropped below 77,000, ETF net outflow of 643 million. The group chat is full of "it's going to drop further."
Then a transaction popped up on-chain.
9 hours ago, a whale spent 17.24 million USDC to buy 7,703 ETH at an average price of 2,237.6 USD.
If it was just this one transaction, you could say he bottom-fished too early. But looking back half a month — he also withdrew a batch of ETH from a CEX. Together, the two transactions total 9,375.6 ETH, worth 21.23 million USD, with a combined average price of 2,264 USD.
The interesting part is here: his first batch cost more than today's purchase.
In other words, this person didn’t wait for the price to bottom out before acting; he kept buying as the price dropped, buying more even as it continued to fall. Today's average price of 2,237.6 actually lowered his overall cost basis to 2,264.
Retail investors ask "where is the bottom" when the panic index is 30, while whales place orders at a panic index of 30.
Of course, this doesn't mean the bottom has arrived. Someone spending 17.24 million could still get trapped tomorrow. But when the market is at its most fearful, there are always people voting with real money — you may disagree with their judgment, but you can't say they haven't thought it through.
Panic is emotion; buying is action. Both happened today simultaneously. #苹果新CEO迎来iPhone18首份成绩单 Brothers, this early morning spike was even more brutal than the script.
BTC dropped straight from 78k to 76.4k, ETH smashed through 2200, SOL fell below 95, altcoins are all wailing. Binance hot wallet aftershocks haven't been digested yet, US core PCE at 3.1% and rate hike expectations are pressing down again, US Treasury yields stuck above 4.9%, liquidity is drained, long leverage is the fuel.
Looking at on-chain smart money: BTC long-short ratio still leans bullish but positions haven't decreased, retail investors are catching the falling knife at 76k; ETH 4h long-short ratio above 3.0, with 2300 trapped positions plus 2200 liquidation zone below, a break means a stampede; SOL lost the 100 mark, the 99→95 spike wiped out a batch of longs.
In this market, don't ask "can I bottom fish?" but first ask yourself how much leverage you have and where your stop loss is. Big whales are cutting losses (Maji ETH longs floating loss 1.88 million, HYPE shorts floating loss 5 million), small retail with full 100x leverage is just handing out money.
Operations:
• BTC: Light long positions if 76100 holds, if broken look at 74k, no chasing;
• ETH: If 2200 doesn't hold, look at 2150, rebound to 2280-2300 is an escape zone, not an add zone;
• SOL: Don't buy below 95, wait for a stable close above 100 before talking reversal.
Pre-election + macro overhead, the market is specifically killing the "I feel it's bottomed" mindset. De-leverage, withdraw coins to self-custody, keep cash, survive this week first. $BTC $ETH $ZEC #Palantir财报前瞻：高增长能否支撑高估值 Current environment makes it difficult to support high valuation Storage can't hold up either, where is the left-side bottom-fishing window?
The pre-market atmosphere remains grim. The storage sector, propped up by SK Hynix for a day, still fell further, the cover was lifted. Google has returned to near its March lows, Micron and SanDisk are testing July support, next to watch are the midterm election results and the evolution of the war.
There are roughly two paths: if both chambers are lost, the market may continue to sell off first, then brew a major reversal at some point; if Congress is split, it might reverse directly. My plan is to fully buy in batches on the left side before November 3, then increase leverage on the right side after news confirmation. This is a window for a capital scale leap, but leverage is a double-edged sword, discipline must not be lost.
#英特尔Q4指引不及预期，股价暴跌近30% 🔥$SNDK SanDisk dropped to 1117, is it time to bottom-fish and go long now?
Yesterday, shorting SanDisk hit both targets at 1160 and 1120, with a low probe at 1117. Friends who followed the rhythm all made profits ✅
Many are puzzled: with explosive earnings, revenue nearly quadrupling, and a 1-for-8 stock split announced, why the sharp drop? The essence is that the good news has been fully priced in. The stock had already surged significantly before the earnings report, so the positive news became an opportunity for the main players to unload. Coupled with Intel’s Q4 revenue guidance crash, plummeting nearly 30%, dragging down the entire semiconductor sector, it’s hard for SanDisk to stand alone!
The market clearly shows the rebound was heavily suppressed at 1240, with strong resistance at 1260 that’s difficult to break. After confirming the bearish trend, the decline continued.
In the short term, it will likely enter a consolidation and recovery phase. Whether 1117 can hold is the watershed. Holding here offers a chance to rebound; if broken, look down to the 1000 level. The heavy resistance zone above at 1260 won’t be broken without volume, so don’t expect a reversal.
Trading idea: bearish profit-taking can be done in batches; for long-term bulls, patiently wait for support to stabilize before positioning on the left side. Pay close attention to capital flows around the stock split implementation on November 20.
⚠️This is just my personal review and not investment advice. US stocks are highly volatile, so manage your risk well!
#美股与金银同步大跌，避险资金流向分
#美联储官员释放加息信号，12月预期仍存分歧 🚨 $HYPE bullish logic is not over yet! What truly deserves attention is not just the price rebound, but whether protocol revenue can continuously convert into buying pressure!
Recently, when HYPE pulled back, many started doubting if the rally was over. But if you only focus on the candlesticks, it's easy to overlook the underlying supply and demand changes.
📌 First, protocol buybacks are still ongoing
As of October 30, the Hyperliquid aid fund bought about 772,500 HYPE in the past 30 days, worth approximately $68 million, with a total holding of about 48.4 million tokens. The protocol uses most of the fee income to purchase HYPE, providing potential demand support for the token.
📌 Second, on-chain finance still has room to grow
Hyperliquid is expanding perpetual contract markets beyond crypto assets. HIP-3 offers more trading possibilities for stocks, commodities, and other assets. If new markets continue to bring volume and fees, protocol revenue has a chance to keep growing. But ultimately, it depends on real trading data, not just concepts.
📊 Third, don’t overlook the November 6 unlock
About 9.917 million HYPE tokens are scheduled to unlock then, roughly 4.1% of the current circulating supply. Unlocking doesn’t necessarily mean tokens will be sold, but short-term supply pressure is indeed worth watching.
My bullish logic is clear: buybacks provide demand, ecosystem expansion offers growth potential, and what truly determines the trend is whether protocol revenue can outpace new supply.
$ETH $SOL #美联储官员释放加息信号，12月预期仍存分歧 📉 Market: Weak stabilization, long leverage liquidations
BTC dipped to $76,000 overnight before rebounding to around $77,300, ETH is at $2,242. $1.347 billion liquidated across the network in 24 hours, with longs accounting for a high 86.68%, a typical long squeeze. The Fear and Greed Index plunged to 30 (Fear), hitting a nearly two-and-a-half-month low.
🔓 Binance Incident: 80% Recovered, Withdrawals Pending Resumption
The confirmed theft amount is $6.3 billion (about 18,000 BTC). Binance has recovered about 80% of the funds, with approximately $3 billion frozen on-chain, and no evidence of private key leaks found. Withdrawals remain suspended, with phased restoration targeted within 34 hours.
💰 "Triple Fragmentation" of Capital Flows
1. ETF Divergence: BTC ETFs saw a net inflow of $135 million against the trend (absorbing 1,684 BTC); ETH ETFs have had cumulative outflows approaching $1.32 billion in October.
2. Whale Bottom Fishing: A certain address bought 7,703 ETH at an average price of $2,237 against the trend, contrasting ETF outflows.
3. Corporate Buyers Struggling Alone: Strategy's holdings increased to 848,000 BTC and plans to raise $30 billion for further purchases, but public companies have largely ceased buying.
⚖️ Regulation and Financing
• Custody Regulations: The SEC continues to advance a customized custody framework, relaxing restrictions on qualified custodians. Black swan event lands, BTC's "bleeding" depends on two things
Binance hot wallet was compromised by an operations-side intrusion, about $6.3 billion in assets were cross-chain transferred out, $BTC once dropped to $76,368. This is not an ordinary pullback; it's a breach of infrastructure trust.
First, has the panic selling finished? Not completely cleared yet. The contract liquidations triggered by the event were mainly long positions, with about $356 million liquidated on the 29th alone, of which longs accounted for $205 million. ETF funds also flowed out during the same period, indicating that active selling pressure and passive stop-losses overlapped, and the tail risk of a cascading sell-off still exists.
Second, can the bottom support stabilize confidence? There is currently "bleeding control," but no "healing" yet. CZ promised full compensation, and Tether and Circle froze about $2.5 billion of involved stablecoins on-chain, temporarily suppressing the panic-driven run. However, whether the SAFU fund and proprietary capital can cover the final net loss, and whether a secondary outflow will occur after withdrawals resume, are the true tests of confidence.
The key support level below is between $73,000 and $75,000; if broken, the adjustment level will escalate. In a black swan market, the most costly move is "bottom guessing." Survival depends on having a light enough position to withstand spikes and hedging until panic truly exhausts.
#美联储官员释放加息信号，12月预期仍存分歧 Who's the first target next week? 📣
Here's the calendar for next week tonight: Monday morning brings the private manufacturing PMI, expected at 51.6, previous 52.1; at 23:00 Monday, ISM follows, expected between 54.5 and 54.7, previous 54.5. The price component jumped from 71.1 last month to 77.9, which I'm watching closely. 📊
After the clock strikes, data arrives one hour later Beijing time; ISM is at 23:00, not 22:00.
Price roundup first: BTC hovers at 77546, moving 0.09% in a day; ETH grinds at 2248, up 0.54% daily; SOL lingers at 95.9, down 0.78% daily; ZEC stands at 1282, up 2.75% daily, the furthest mover.
Positions are interesting: all four coins rise together in the last hour, ranging from 0.27% to 1.05%; over the day, no consensus—BTC and SOL remain positive, ETH down 1.04%, ZEC barely moved near zero.
Funding costs are also mixed: BTC highest at +0.0102%, ZEC +0.0091%, SOL +0.0067%, only ETH flipped negative to -0.0058%, shorts paying, positions not following costs. 👀
Mismatch between costs and positions indicates some are voting with money, others with their feet.
Putting it together: short-term one-hour window has returned, long-term window not aligned, price component topping high, data pushing inflation further—this return may not be a trend. Until the two lines align, I won't chase 👇 Which line will you watch first next week?Withdrawals have not yet resumed, but the price has stabilized for now.
Binance aims to resume withdrawals in phases, roughly within 34 hours. The reserve snapshot results are said to be announced before November 2. Withdrawal resumption and reserve announcement are two points pending verification.
About 18,270 stolen $BTC are distributed across 19 wallets. As of tracking on October 30, they have not moved out. $BTC has no issuer to blacklist. We can only wait for them to land on exchanges or OTC.
$BTC is around $77,700. The 24-hour range is about $76,141 to $77,958. $ETH is around $2,243. Focusing only on withdrawal resumption and reserve announcement, no directional speculation.Terrestrial compute will be peanuts compared to orbital compute.
Orbital compute deployed per month probably exceeds terrestrial around the end of 2028 and then far exceeds it in 2029.
This is in response to Sequoia Capital partner Shaun Maguire's SpaceX financial model (which predicts revenue exceeding $700 billion in 2028, mainly from terrestrial compute business). Musk believes terrestrial compute will ultimately be left far behind by orbital compute.
SpaceX has applied to the FCC for up to 1 million orbital data center satellites, each designed with a power level of about 100-150kW, interconnected via laser links.
This is Musk's judgment on the future main battlefield of AI compute power—once terrestrial power and approvals become hard constraints, orbit will become the main source of new compute power. It is both a technological vision and the core story supporting SpaceX's (and xAI's) long-term narrative and valuation. Whether monthly incremental deployment surpasses terrestrial in 2028-2029 depends on the Starship launch cadence and the pace of orbital satellite projects, which remains a challenging goal.
$SPCX Are exchanges no longer making money from trading? The highlight in Coinbase's Q3 report is the prediction market📊
According to Decrypt, Coinbase announced its Q3 report on October 29, Eastern Time:
🔹 Net profit of $719 million, but about $715 million came from the appreciation of crypto assets it holds; excluding investment gains, adjusted net profit is only $78 million
🔹 Total revenue of $1.22 billion, flat quarter-over-quarter, down 35% year-over-year
🔹 Trading revenue of $590 million, down 1% quarter-over-quarter, with market volatility at multi-year lows
🔹 Prediction market annualized revenue exceeded $200 million, daily active traders increased over 60% quarter-over-quarter
🔹 Subscription and services revenue of $570 million, nearly half of net revenue, with stablecoins contributing $307 million
CFO Alesia Haas said: The prediction market has brought a new source of revenue, with lower correlation to crypto volatility.
My view: The attractive profit mainly relies on unrealized gains on the books, which could be given back if coin prices pull back. What’s truly worth watching is the changing revenue structure: the share of trading fees is decreasing, while subscriptions, stablecoins, and prediction markets are filling the gap. When the market is cold, exchanges are also looking for businesses that don’t depend on coin prices to survive.
Have you ever played the prediction market? What events did you bet on?
Personal opinion, not investment adviceA brother in the $HYPE group just asked me: Isn't there a big institutional move on perpetual contracts for this coin? So why is it still falling? I replied: Precisely because there's a big event, some are taking the opportunity to sell off. The current price is 87.88, up 15.5% in 7 days, but the trading volume is only 60% of usual. The price is pushed up while volume shrinks like this—there's a story on top, but no fuel burning underneath. The most painful part is the thin market cap, only 32 million traded in a day. Two addresses dumped over 1.2 million $HYPE tokens, apparently making 26 million yuan profit. Putting that into this pool causes a commotion like everyone slamming down their chopsticks at the table. I said in the group this morning, those opening longs with liquidation prices close to the current price are purely gambling. Now with shrinking volume and slight decline, no one is lifting the price, and those holding hard can be swept out anytime. $HYPE Freezing Point and Frenzy Side by Side: Crypto Divergence Under the Impact of a $6.3 Billion Black Swan
On October 31, the crypto market showed extreme contradictions. The panic index dropped to 30, BTC sharply probed $76,400 triggering $1.65 billion in liquidations; meanwhile, the dark pool AI giant ANTHROPICUSDT was priced at $1698, with capital crossing different pricing dimensions.
$ANTHROPICUSDT (around $1698): Pre-IPO perpetual product, implied valuation about $1.61-1.9 trillion, discounted 10%-20% from the $2 trillion target, dark pool maintains high premium speculation.
$BTCUSDT ($77,539, +0.33%): Binance suffered a $6.3 billion hacker attack causing a plunge and liquidations. But spot ETF net inflow of $135 million (absorbing 1684 BTC) strongly supported the price, which recovered above $77,000.
$ETHUSDT ($2,247, +0.17%): Shows a divergence of “institutions selling, whales buying.” Spot ETF monthly outflow nearly $1.32 billion, while whales spent 17.24 million USDC to counter-trend buy 7703 coins at $2237.
Summary: Macro contraction and micro-level games overlap. Panic events suppress risk appetite, but ETF support, whale bottom-fishing, and high AI dark pool valuations reflect capital resilience. Before leverage clearing, prudent management is stronger than blind chasing.
Risk Warning: This article is for review reference only and does not constitute investment advice.
#英特尔Q4指引不及预期，股价暴跌近30% $USDC
After Binance was hacked, where exactly did the money go?
I just checked, the total circulating supply of USDC is now just over 71.7 billion, down by about 800 million in seven days. Not a crash, but the direction is clear: after this incident, some people redeemed stablecoins to wait and see.
At the same time, Coinbase just adjusted its cold storage system, and the foundation warned of a new round of phishing emails, so security nerves are all on edge. The price remains very stable at 0.9999, the peg hasn't loosened, it's the volume that's shrinking.
My view is that at times like this, circulating supply is more honest than price. A large order can easily distort the price, but redemptions are real money moving in and out. Whether this volume contraction stops or not is more telling than any statement.
#美联储官员释放加息信号，12月预期仍存分歧 Don't fantasize about "US stocks crash, BTC stable" 📉
When US stocks sneeze, the crypto market catches a chill 🥶. The recent pullback in BTC and ETH is not accidental; it's a synchronized reaction of risk assets under expectations of tightening liquidity. BTC has never been a safe haven island; it is more sensitive to funding conditions and carries higher leverage. If US stocks truly experience a 30% correction, it's no surprise BTC would fall faster and harder ⚠️.
Some folks are still waiting for the "US stock market crash, BTC independently strengthens" scenario, but that's more like wishful thinking 🧊. When liquidity recedes, risk assets rarely move independently; it's just a matter of timing and magnitude. The current volatility is more like an appetizer, not the main event yet.
BTC is still tugging around 77,000, the consolidation pattern hasn't broken, nor has a downtrend been confirmed. But the more this is the case, the more we must respect the market: don't mistake short-term fluctuations for a safety net, and don't confuse fantasies for strategy 🚨. Real risk often creeps in when everyone thinks "this time is different".
$BTC $ETH
#美联储官员释放加息信号，12月预期仍存分歧
#美股与金银同步大跌，避险资金流向分化 Lying on the couch staring at the K-line, while others are crashing hard, this guy actually held firm
Last night, as soon as the hacker news came out, the market was directly smashed through, and the wails in the group chat could almost pierce through the screen. I lay on the couch watching the market for a long time today, seeing it go in and out of ICU, feeling really anxious inside.
But after carefully comparing, I found a particularly ridiculous phenomenon: at the peak of the market-wide panic selling, $DOGE's decline was actually more restrained than the overall market. Some even tweeted that in this historic storm, Dogecoin's performance was not only resilient but even outperformed those so-called orthodox assets.
I held my cup and thought for a while. Why? On one hand, the hackers didn’t have coins to dump; on the other hand, the community’s foundation is really solid, and during the panic, people surprisingly didn’t trample on each other much, holding their chips tightly.
I glanced at the chart, and the inverted head and shoulders pattern on the 4-hour chart was still firmly standing, the neckline unbroken. I had mentally prepared for my assets to be halved, but it only got a little scratched. This kind of resilience against the drop made my hand, which was about to move, completely stop. $DOGE, the bigger the storm, the tighter I hold on.One address, one long position, a cumulative profit of 21.71 million USD. This is not a joke; it just happened on-chain.
0xbf73…5d58 reduced about 12.12 million USD worth of $HYPE long positions within the window, closing trades totaling approximately 12.11 million USD at an average price of 87.64 USD. The key is the last sentence: after the reduction, its position in this asset is zero. Not halved, not leaving a base position, but completely cleared.
Why is this worth a look? Because a 12.11 million USD order had to be fully executed on the order book, with slippage and absorption paid in real money. The fact that it could offload at around 87.64 USD indicates there was buying interest at that price—another party opened the opposite position here.
The counterparties may not have thought it through. The longs’ counterparties are new bulls; the chips transferred from hands that made 20 million USD profit to those who just opened positions. The former cashed out, the latter placed a bet.
My judgment is: such a large-scale liquidation is a real short-term pressure, but the pressure has been fully released because the position is zero. Next, we watch if it will come back. If similar addresses follow in the next few days, the $HYPE long structure is loosening; if it’s just this one, it’s an individual taking profit.
One point to consider: 21.71 million is the account’s cumulative profit, not the profit from this single trade. How much a 12.11 million USD position contributed to that profit is a calculation no one can do for you.⚡Storage chips collectively plunge! The differentiation logic is clarified
$SNDK｜1180 💾
SanDisk focuses on NAND flash memory, plunging over 13% in a single day, with the Philadelphia Semiconductor Index falling 7.2% simultaneously. Although the storage cycle is warming up and AI server SSD demand is rising, the market is beginning to question whether high growth can be sustained. Today belongs to a collective valuation cut in tech stocks.
$SKHYNIX｜1050 🧠
SK Hynix is the leader in the HBM track, with HBM4 orders exceeding expectations. It was originally the most certain stock in this storage cycle. This time it fell nearly 8%, purely dragged down by market sentiment; the company's fundamentals are fine.
$xMU｜900 🧠
Micron is pushing DRAM, with HBM as its incremental business, down over 5%. The rising demand for HBM benefits the entire sector, but its HBM4 progress is slower than SK Hynix's, and the market is re-pricing this chasing player.
#美联储官员释放加息信号，12月预期仍存分歧 $BNB This 50x short position entered at 749.45, target 704.66, floating profit +298.81%.
Calculate: from 749.45 down to 704.66, a drop of 44.79, about 5.98% decline, multiplied by 50x equals 299% — matches the number on the screen.
So this less than three times is essentially the "target dropped less than 6 points" amplified by leverage. When it moves in the opposite direction, it shrinks back by the same ratio.
From the trend perspective: the shape of this line on the chart is very clear — first slight fluctuations, then a significant drop, now in low-level consolidation. This indicates the main drop phase is over, and the market is finding direction after the decline. Remember the 50x leverage conversion: for every 1% reverse rise in the target, floating profit decreases by 50 points; converted to price, about every 7.5 increase causes floating profit to drop 50 points. For your reference: back to 710, floating profit about 263; 720, about 196; 730, about 130; back to cost 749.45, zero. Downward side: breaking 700, about 330; 690, about 396; 680, about 463. In other words, going up only needs a 3.4% move to lose half the profit, going down needs another 3.5% drop to gain 100 more points — the current position has faster risk above than reward below. So I first closed part of it, set the trigger line above cost, and if it stands above 720, I will recognize the exit. $BTC $ETH
#美联储官员释放加息信号，12月预期仍存分歧 🔥 【Behind the gold plunge, there may be a national-level chip transfer underway!】
Some things I originally didn’t want to say, but recently too many people have asked: Why has gold been falling continuously? Has the gold bull market ended?
On the contrary, I believe that behind the pressure on gold prices, there may be even greater long-term bullish factors.
There is a market hypothesis worth noting: some central banks may be adjusting the storage locations of their overseas gold reserves, gradually completing asset swaps through selling and buying in different markets.
If large funds sell off concentratedly, prices could be pushed down in the short term; then by buying back in batches, there is an opportunity to lower the overall purchase cost.
Sell concentratedly, buy dispersedly. On the surface, it looks like selling pressure, but behind it may be a redistribution of chips.
However, it must be emphasized that currently there is no sufficient public evidence proving that central banks are jointly suppressing prices to accumulate chips; this is just a market speculation.
What truly deserves attention is: if global central banks continue to increase gold holdings while tradable physical supply gradually tightens, the future supply-demand relationship may once again drive gold prices higher.
💡 In the short term, gold depends on liquidity; in the long term, on credit and supply-demand.
Smart investors don’t need to guess every candlestick but should see the long-term trend clearly while managing positions and cash flow well.
Remember: price drops don’t necessarily mean value disappears; real opportunities often hide when the market is most pessimistic.
#黄金 #央行购金 #贵金属 #投资逻辑$XAU Differences and Advantages of $ORDI Compared to $ETH
6️⃣ Security Threats: Index Parsing Divergence vs. Smart Contract Code Vulnerabilities
Inscriptions fear "referees (indexers) having inconsistent rules," while ETH fears "hackers draining the contract liquidity pool."
The biggest fatal flaw of ETH assets lies in vulnerabilities caused by the complexity of smart contract code (such as reentrancy attacks, privilege escalation, flash loan attacks); whereas ORDI assets on the BTC chain cannot be stolen by hackers through code logic. Its greatest security threat is not on-chain but off-chain, where indexers may cause consensus divergence during BRC-20 protocol version upgrades (such as risks of soft or hard forks).
[In summary] The risk for inscriptions lies in "off-chain social consensus on rules," while ETH's risk lies in "on-chain physical code vulnerabilities."😱 Massive capital flight! October ETF data is too glaring
Throughout October, both BTC and ETH suffered outflows, with Ethereum hitting a new record 💸
On 10.30 alone: BTC ETF net outflow was 643 million, ETH outflow was 156 million
✅ BTC: net outflow for the whole month about 515–618 million
✅ ETH: outflow of 1.607 billion for the month! Three times that of BTC, marking the largest monthly outflow since listing
Even more shocking, out of 22 trading days in the month, ETH had net inflows on only 3 days, with the remaining 19 days continuously fleeing 📉
Both are BlackRock products, but the contrast is stark:
IBIT (BTC) still attracted 932 million in October, while ETHA (ETH) saw a massive outflow of 1.42 billion
In short: Although BTC faces selling pressure, there is still main capital support; on the Ethereum side, even the most important ETF capital channel is retreating.
#BTC持续震荡，后续走势受多重因素影响 Conclusion first: $PENDLE has been moving against expectations these past two days. Q3 data is solid, but the token price first dropped then rebounded.
I'm focusing on three points. ① The protocol is improving: Pendle officially cited Alea Research's Q3 report, showing TVL up 43% quarter-over-quarter to $1.16 billion, with RWA accounting for 82% of TVL in USD markets, and token incentives cut by 58%—cutting incentives by half while TVL rises indicates real demand. ② Revenue lagging: Q3 V2 revenue dropped to $2 million, with a buyback/distribution ratio of 3.2x supported by retained fees; with revenue declining, this ratio will thin out. ③ Maturity dates are key: as of 9/30, 91% of TVL ($1.06 billion) matures before December 17, including $236 million from re.xyz maturing on December 10.
Price-wise, it dropped from 2.026 to 1.676 between the 10th and 30th, then rebounded today to 1.873, up 10.4% in 24h; perpetual open interest is only $3.13 million, with 24h perpetual volume at $5.86 million and spot at $1.05 million. Circulating supply is 174 million, total supply 282 million, with 38% still locked.
I only focus on the buyback/distribution ratio and maturity concentration, not chasing the rebound. Will you roll over the PT maturing in December or redeem it for stablecoins upon maturity?$BTC 🔥 This time, on-chain data shows a giant whale holding short positions simultaneously in BTC, ETH, and SOL, with a total position size of about $650 million. The position size is considerable, and the strategy is not simply a one-sided bet on a decline.
📌 BTC uses 5x full margin, holding 2,319.6 coins, with an unrealized loss of $693,100 but has already collected $3,375,200 in funding fees; ETH uses 5x full margin, holding 100,000 coins, currently with an unrealized profit of $8,602,800 and funding fee income of $4,332,700; SOL uses 7x full margin, holding 696,100 coins, with an unrealized loss of $698,400 and funding fee income of $3,899,700. The total funding fees from these three positions exceed $11.6 million.
⚠️ This indicates that funding fees can indeed offset holding costs and unrealized losses to some extent, but they should not be understood as a permanent safety cushion. Funding rates may reverse, and the market could suddenly surge. Full margin leverage still carries risks. Especially for large positions, the impact of price fluctuations cannot be judged solely by current unrealized losses.
If the market continues to rebound today, will these short positions adjust? Do you think the giant whale is patiently collecting funding fees or waiting for a better opportunity to close positions? #FederalReserveOfficialsSignalRateHike, December expectations still diverge Nonfarm Payrolls Approaching: Will BTC and ETH Trade Employment Changes First or Interest Rate Expectations?
The nonfarm payrolls report hasn't been released yet, but the market is already guessing: the worse the employment, the easier it is for crypto prices to rise?
I think this time we shouldn't rush to apply formulas. In the short term, the market may first trade the data through interest rate expectations, but if employment is weak enough to worry about the economy, BTC and ETH could also come under pressure.
In the last report, new nonfarm jobs were only 29,000, with an unemployment rate of 4.2%; meanwhile, some Federal Reserve officials still believe tightening is needed soon. Employment and inflation are pulling in opposite directions, which makes next week's data difficult to trade.
After the nonfarm payrolls release on November 6, I will first look at whether employment numbers, unemployment rate, and wages all weaken together, then see how interest rate futures price December. If the data is weak and rate hike expectations fall accordingly, and both coins can hold the lows at the time of the data release, a recovery will be more credible.
Conversely, if employment is clearly weaker than expected but BTC and ETH rebound only to quickly fall back to pre-release prices, be cautious that the market is starting to worry about growth rather than simply celebrating possible policy easing.
For now, note two observation points: around 78088 for BTC and around 2262 for ETH, which are their respective 24-hour highs at the time of verification. If after the data the hourly chart closes above and holds on a pullback, consider light positions; if it breaks below their respective 24-hour lows and fails to recover on a rebound, abandon the short-term recovery idea.
$BTC $ETH #美联储官员释放加息信号，12月预期仍存分歧 #OKX星球话题来啦 A $300 loss on $DOGE, a 10% buffer before total wipeout, and a holder openly admitting exhaustion: this is not a market update but a position diary. The details matter less than the structure they reveal. Retail participants are holding losing longs, hoping for recovery rather than managing risk, and the language of endurance has replaced the language of conviction. ʕ •ᴥ•ʔ Bitcoin's defense of 76,000 tells a different story. Accounts were liquidated, yet dip buyers outnumbered the wreckage. That$PARTI PARTI This chart is quite interesting, short accounts almost make up sixty percent, yet they have to pay interest to the longs every day. The price is good, it can't be smashed down, firmly hovering above the support level. Retail investors are crowded below guessing the top, while big players are quietly accumulating chips, those who understand the rhythm get it.
#PARTI
$PARTI
👇$PARTI PARTI's recent surge is purely a bull trap.
The overall market is lifeless, yet it counter-trends, pumping up to 0.06 with extremely high turnover, while the contract open interest (OI) actually dropped by 7.5%. The price is creeping up, but the main leveraged funds are sneaking away, clearly dumping their holdings onto retail investors chasing the highs during high volatility.
The order book depth is already thin, and the vast majority of liquidations in the past few hours are longs. On top of that, the team and private placements keep unlocking and dumping, and once the leftover buying pressure from this pump-and-dump is exhausted, the ensuing stampede is unimaginable.
#PARTI
$PARTI
👇"A 6.68% buffer, with $CT leveraged 20x shaking — this is the most dangerous aspect of this position."
$CT 20x long, 0.1332→0.1421, +133.63%. Conversely: it only needs to pull back about 0.33% for that 133% gain to vanish completely.
What does 0.33% mean for $CT? A normal downward wick, or even a large sell order in the order book. In other words, this position doesn't require any fading of bullish momentum, a trend reversal, or even someone deliberately shorting — just a technical pullback is enough to wipe it out.
20x leverage magnifies 6.68% into 133%, and likewise magnifies 0.33% into zero. It offers huge profits 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 close based on "how much profit" I have, only on how far it is from the cost line. 6.68% looks like a buffer, but market fluctuations never make sense.
The only move: push to breakeven, at worst lock in zero, and do not increase exposure. $BTC $ETH #美联储官员释放加息信号，12月预期仍存分歧 Yesterday, the US stock market dealt a heavy blow to all AI believers. Intel plummeted 30% intraday, while Amazon and Google's combined market value evaporated by nearly one trillion dollars. The problems of the three companies seem different, but the market's question is the same: When will the money you burned be earned back? Google's predicament is the most typical. The growth rate of search ads slowed to the slowest in five quarters, and management admitted that AI search's monetization ability is low. On one hand, the core cash cow is slowing down; on the other, future AI infrastructure payment obligations exceeding one trillion dollars hang overhead. The market told you with a 12.64% single-day drop: if AI is consuming your present but has yet to prove it can secure your future, this story cannot continue. Amazon's irony is even stronger. AWS growth is 39%, the best in nearly five years. But quarterly capital expenditure is 77.2 billion, and free cash flow turned from positive 14.8 billion to negative 42.4 billion. Investors do recognize the cloud business but are no longer willing to unconditionally buy into the narrative of "burn money first, talk about returns later." When the CEO says spending will "significantly increase" again in 2027, the market's reaction is: when will the cash flow turn positive? Intel tells a different story: the script of a turnaround has been disproved. It rose 150% this year relying on the expectation that "AI needs CPUs." But once guidance came out—weak PC demand, supply chain bottlenecks, free cash flow turning negative—analysts bluntly said three words: "not yet fixed." Three earnings reports, one signal: the pricing power of the AI narrative is shifting from "vision" back to "cash flow." It's not that AI is failing, butDuring the $BNB FTX crisis, CZ mentioned holding $1 billion worth of SPX stocks. I prefer to interpret this as a response to Musk's sarcasm, proving he could handle the situation. The point wasn't to sell these stocks, but to show that the crisis could be managed without selling them. Interpreting this as insecurity is indeed somewhat subjective. $BNB$UNI Binance was hacked yesterday, and 182,000 UNI tokens were burned across the entire network in a single day, usually about 30,000 tokens, a direct 5-fold increase. Among them, 79.1% came from the Ethereum chain. The stolen funds were all transacted through Uniswap, and Binance will later have to replenish the stolen tokens' shortfall from Uniswap — with this twist, does UNI count as an unexpected positive? 😂BTC
There are subtle changes in the geopolitical conflict on the news front. The mediator Qatar has proposed a new plan to Iran in an attempt to bridge the US-Iran divide, but Iranian officials say the new plan is "unacceptable." Meanwhile, the US has informed several Gulf countries to prepare for a "short, intense military operation" against Iran after the midterm elections, but Trump has not yet made a final decision. Risk aversion sentiment and policy uncertainty continue to suppress risk assets. A more direct impact comes from the Binance hot wallet theft incident, with reported losses as high as $6.3 billion. Market panic surged sharply, and BTC once fell to around 76,000 before slightly rebounding to about 77,480. There was a dramatic reversal in the capital flow: BTC spot ETFs saw a net inflow totaling $440.8 million over four consecutive days from October 26 to 29, with BlackRock's IBIT accounting for $410.6 million (about 93%). However, on the first full trading day after the theft incident on October 30, it turned into a net outflow of $409.5 million, with Fidelity's FBTC outflowing $201 million, ARKB outflowing $129.5 million, and IBIT data not yet fully reported. Previously, the single-day inflow on October 29 had sharply dropped from $137.3 million to $17.2 million, showing that inflow momentum had already significantly weakened before the hacker incident. A payment volume of 16 trillion dollars, yet it didn’t boost XRP! 😱 My first reaction was: with such a huge business movement, why didn’t the coin price catch it? The material also mentioned Ripple’s new business and increasing financial partners; just looking at these, it’s easy to get excited.
Calming down, I think the two things that need to be separated most are the company’s profit and the benefits to token holders. Buying $XRP is not buying Ripple shares; token holders have no claim on the company’s profits. Partnerships can bring revenue to the company but don’t have to be shared with token holders—there’s no automatic transmission chain in between. My judgment is: directly treating company business expansion as token bullishness is a logical leap.
Remind yourself: next time you see such big numbers, first look at how they translate into token demand; don’t let the scale drive your emotions.Is it a true public chain or just a "rebranded" DAO? Behind Core handing over control to the community, can 31 nodes uphold decentralization?
Core recently officially announced that the DAO will completely withdraw from block production and the founding core members will step down. The market interprets this as a milestone in transferring governance rights to the community, but the controversy centers on the network's core architecture: currently, Core's active validators are fixed at 31 seats, scored daily by a weighted mix of BTC hashrate, custodial BTC staking, and CORE staking, with the top 31 nodes selected each day to produce blocks. Expanding from 21 to 31 nodes was originally a decentralization upgrade goal set by the community CIP-2 proposal. Increasing the number indeed broadens participation, but the limited set of 31 validators has become a key point of skepticism about its decentralization. The design intent of the Satoshi Plus consensus is to use Bitcoin miners' hashrate to counterbalance the risk of monopoly by single-token staking, theoretically adding an extra security layer compared to pure PoS chains; however, the hidden risk is that even with 31 nodes, if BTC hashrate delegation, large BTC staking, and CORE token staking are highly concentrated in a few leading institutions, the seemingly independent validator group can still form an oligopoly. The number of nodes does not equal power dispersion. Previously, validator block reward anomalies also raised market doubts about node parameter governance and reward rule enforcement. The Korean Bithumb exchange has decided to delist CORE citing this risk.