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#The Circle financial report is coming up, can the growth of stablecoins translate into profits? I believe Circle (CRCL) faces a major challenge: growing USDC adoption does not guarantee higher profitability. High distribution costs, agreements with Coinbase, and the possible drop in interest rates could pressure its margins. For me, the real test will be to prove that growth comes from real and sustainable transactions, not just accounting figures. #美国中期选举在即，哪些结果值得关注？ $BTC $ETH $XAU The US midterm elections essentially represent a vote on US fiscal and regulatory policies. Control of both chambers will directly change the short-term pricing logic of US debt, the dollar, gold, and BTC.
The market's current baseline expectation is a divided Congress, meaning each party takes one chamber. Under this scenario, large-scale tax cuts, new fiscal stimulus, and aggressive regulatory bills are unlikely to pass.
Two other scenarios are unexpected and would cause greater volatility:
✅ Republicans take both the House and Senate
Expectations for tax cuts and deregulation of industries heat up, concerns about deficit expansion resurface, and interest rate hike expectations will be repriced. US Treasury yields and the dollar strengthen, gold comes under pressure; US tech stocks and AI preferences rise, BTC follows risk assets with a slightly stronger oscillation.
✅ Democrats sweep both chambers
Tend to constrain fiscal spending, promote tax increases and strong regulation, leading to deficit expectations narrowing. US Treasury yields tend to fall, benefiting gold; expectations for strong regulation in tech and crypto sectors rise, bearish for BTC.
📌 Reference price levels
Gold: support at 3900, resistance at 4020
BTC: support at 76000, resistance at 81000
👉 Trading approach
Elections are a typical event with expectation gaps; do not heavily bet on the outcome in advance. Focus on comparing actual outcomes with prior market expectations, prioritize observing US debt and dollar correlations for validation, and consider light trial positions only after market signals stabilize, with strict stop-losses. Macro event-driven markets have far more uncertainty than certainty.
Brothers, what are your thoughts US Stocks: Since 1950, in 19 midterm elections, the S&P 500 has risen in the 12 months following every election, with an average increase of 15.1% and a median of 14.5%. But this year is different—the maximum pre-election drawdown was only 9% (historical median is 16%), and the distance from the historical high is just 3%, so the space for recovery is limited; historical gains cannot be simply applied.
BTC: Having gone through 3 full cycles (2014/2018/2022), it rose one year later on average by about 54%. But the key point is—the median dropped 31% in the first three months after the election, meaning the direction was right but the process was extremely painful. Also, these 3 times coincided with two and a half years after halving, where bull-bear cycles and election cycles overlap, so it cannot be proven as an "election effect."
Policy: The CLARITY Act missed passing the Senate by one vote in September and is now stalled; the new Congress will decide the legislative direction. A divided Congress is positive for the stock market (restraining fiscal spending) but negative for crypto (legislative deadlock prolongs uncertainty).
Core conclusion: Being optimistic about one year later ≠ no short-term decline. The real determinants of direction are the Federal Reserve's December meeting, corporate earnings, and BTC ETF fund flows; the election is merely an emotional catalyst.
#美国中期选举在即，哪些结果值得关注？ $BTC $ETH $ZEC Bitcoin did not plunge further over the weekend, and the Binance turmoil has basically eased. The price is now back around $76,000–$78,000, recently dropping below $77,000 again, hovering near the 100-day moving average in the short term.
The 100-day and 200-day moving averages can be used as short-term references:
- In a bear market, rebounds near these two lines often face resistance;
- In a bull market, pullbacks near these two lines often find support.
But don't apply this mechanically; the key is whether there is volume to break above or below these lines.
Three short-term scenarios:
1. US-Iran easing → risk sentiment recovers, $BTC has a chance to stabilize near the 100-day moving average;
2. Fighting while negotiating → continued volatility with repeated shakeouts;
3. Conflict escalation → possibly another drop, but near the 200-day moving average, around $73,000, will be a more worthwhile bottom-fishing zone.
I am more optimistic in the medium term. Historical data shows that in the six months after the US midterm elections, the S&P 500 mostly rises, with an average gain of about 16.6%. This doesn't mean that if the US stock market rises, Bitcoin will definitely rise, but at least it indicates a reduced risk of a major US stock market crash, which is a positive factor for BTC's subsequent recovery.
In terms of trading, watch the 100-day moving average resistance and 200-day moving average support in the short term; for the medium to long term, still consider buying in batches, avoid chasing highs, and don't panic sell.Major macro event incoming! The midterm election boot has not yet dropped, and BTC stands at a crossroads of directional choice.
The U.S. midterm election voting has begun, and Bitcoin has retreated to around $76,500. The sentiment of tech stock adjustments continues to transmit to the crypto market. On the capital side, an extreme reversal drama is playing out: from October 26–29, the U.S. spot BTC ETF saw a cumulative net inflow of about $441 million, but on October 30 alone, there was a large net outflow of $643 million, clearly showing huge institutional long-short divergence and unstable buying pressure.
📊 Reviewing history, after the previous three midterm elections, BTC followed a highly similar trajectory: first a pullback to digest risk, then a rebound lasting about a year. The sample average maximum drawdown was about 38%, and the average increase one year after the election was 54%. If only doing scenario simulation, the corresponding phase low is about $47,400, and the estimated position one year later is $117,700; ⚠️ history will not simply repeat, this is for reference only and not a market prediction.
💡 What truly determines BTC’s subsequent trend is not the election result itself! The core points to watch are: changes in regulatory policy expectations, whether ETF funds can return to net inflows, and the strength of buying support at the pullback level.
Once negative news lands combined with capital inflow, the market may see a rebound; if policy concerns persist and ETF outflows continue, downward pressure remains.
Short-term advice is to patiently wait for signs of market stabilization, plan funds carefully, and always pay attention to trading risks #美国10月非农前瞻：就业增长或牵动12月加息预期 "Is the benefit of asset recovery turning into a death sentence? CORE's trust fracture is hard to mend, yet AI optical communication remains fervent"
On one side, AI technology is blazing like a fire fueled by oil; on the other, trust in public chain governance is collapsing. The market's joys and sorrows do not align.
🔥 The AI sector continues to surge: Marvell plans a stock swap acquisition of Lumentum, heavily investing in AI optical communication infrastructure. This indicates that external capital's enthusiasm for AI foundational computing power infrastructure remains undiminished, with giants accelerating their territorial expansion.
⚠️ CORE's "positive" turns "negative":
The hard fork recovered 68.15 million CORE tokens, which sounds like great news? But the market responded with a harsh slap via a drop of over 6%. Why? Because although transactions were not rolled back, the attack records remain permanently on the chain. The technology was fixed, but trust was broken. More importantly, these 68.15 million tokens have only been transferred to a recovery address and have not been distributed to the affected users—this huge invisible landmine could explode into massive selling pressure at any time.
Operational advice:
Amid the macro storm of the upcoming midterm elections, market sentiment is extremely fragile. CORE holders, immediately check your holdings list and reset your stop-loss points! Focus only on the current core support; as long as support holds, there is a chance for recovery; once broken, be sure to retreat decisively. Do not blindly increase your position driven by this "asset recovery benefit" hype—the outcome of catching a flying knife is often disastrous. Funds are flowing out; why would you play the savior?
#美国中期选举在即，哪些结果值得关注？ #伊朗授权政府谈判，霍尔木兹重开能否提速？
Iran's Supreme Leader Mojtaba has granted the government certain authorities to negotiate with the U.S., seeking to end the Middle East conflict. The Iranian Foreign Minister immediately proposed a "two-day plan": on the first day, the U.S. fulfills its commitments; on the second day, the Strait of Hormuz reopens and shipping resumes. On the surface, compressing from "seven days" to "two days" seems to significantly accelerate the reopening.
But the actual threshold has not lowered; it has risen. The U.S. must complete a series of actions within one day, including unfreezing Iranian funds, lifting the maritime blockade, granting oil export exemptions, and removing new sanctions. Experts point out that the time compression cuts down the U.S. preparation time, and the negotiation itself is even removed from the plan—the Strait reopening is no longer conditional on resuming negotiations but on the U.S. unilaterally fulfilling its commitments first.
The more fundamental deadlock lies in the logic of the exchange: Iran views the right of passage through the Strait as a tradable asset, while the U.S. believes international waterways should be open by default and does not recognize this as something to be bargained for. Authorizing negotiations has opened a diplomatic window, but the "two-day plan" seems more like a pressure tool rather than a genuine compromise. The reopening of Hormuz is unlikely to truly accelerate in the short term.$BTC $ZEC $SOL 法国国民议会10月30日否了两项加密“退出税”提案。 先看具体数据。第一项是I-3904号修正案，想把加密资产（包括自己拿私钥的自托管钱包）硬塞进法国现有的离境税框架里，结果55票反对、27票赞成、1票弃权，直接被毙。第二项是I-3432号，针对的是持有超过80万欧元加密资产、且过去10年里有至少6年是法国税务居民的家庭，想在他们搬走的时候对“未实现收益”收税，最终60票反对、31票赞成，同样没过。 这两项原本在10月8日已经被财政委员会原则性放行了，结果到了大会辩论阶段被按了下去。 所谓的“退出税”，核心逻辑就是防富豪跑路。你人搬去海外了，但你手上的资产增值了，哪怕没卖，税务局也当你想套现，提前扒你一层皮。这次想把加密资产纳进去，被议会拦了。 但别误会，否决这俩不等于法国不碰加密税了。预算案里还有别的口子在开，比如“把加密资产兑换成稳定币”要收税的条款已经过了，只是还没最终落地。现在议会手里还压着700多项修正案没吵完，整个2027年预算案已经拖到了11月17日的死线。 0x50c2be4b3958c358e2654c6dabb4feb9e1cc7777 0xe797e34845f5A historical pattern worth noting:
After past U.S. midterm elections, $BTC has always experienced a pullback.
Tomorrow marks a new round of midterm elections. Will BTC break the pattern this time, or will it decline againEpic "Blunt Knife Cutting Flesh": Bitcoin Continues to Fall, a Tragedy Directed by Greed and Fear
As of November 4, 2026, Bitcoin is priced at about $77,700, down approximately 4.7% over 7 days, with the weekly chart approaching a fifth consecutive week of decline. This round of decline is not a crash but more like a blunt knife cutting flesh: weak rebounds, scattered selling pressure, and fluctuating sentiment.
The real pressure comes from three layers.
The first layer is the aftermath of security incidents. On October 29, Binance suffered a hot wallet theft of about $6.3 billion. Although withdrawals have been gradually restored and a guarantee promised, the market remains uneasy about custody risks.
The second layer is institutional fund withdrawal. On October 30 and November 2, the US spot Bitcoin ETFs saw a cumulative net outflow of about $1.04 billion, with BlackRock's IBIT being the main force behind the withdrawal. Institutions can buy, but they also sell quickly.
The third layer is the resonance of macro and political factors. With the US midterm elections approaching, selling pressure on tech stocks, oil price volatility, and concerns over AI capital expenditure collectively suppress risk assets.
The problem with greed and fear is that they are both rearview mirrors. The panic index dropping to 26 does not mean the bottom has been reached; it only means the price has already fallen through a cycle. What truly determines the direction is whether ETF funds will flow back, whether the $76,300–$76,500 range can hold, and whether it can regain footing above $78,000.
This tragedy is not that the emotions have finished playing out, but that the emotions are still unfolding and the chips have not yet fully changed hands. #Circle earnings report is coming, can stablecoin growth deliver profits? #Circle财报在即，稳定币增长能否兑现收益？ My core view is: Circle's stablecoin growth indeed has the potential to translate into revenue growth, but USDC scale growth does not equal profit growth at the same rate.
The most important focus of this earnings report is not the USDC issuance volume itself, but three variables:
Whether USDC circulation growth continues.
Whether interest income generated by reserve assets can be maintained.
How much revenue is taken by distribution partners like Coinbase.
Among these, the third point is especially important. Circle's revenue growth and the profit ultimately received by shareholders are not the same thing.U.S. midterm elections, what elections and what results? How will it affect the U.S. stock market? An infographic to analyze
I'm trading SNDK, how about you? $SUI is facing monthly unlocks of tens of millions, yet the retail long-short ratio can still be pushed above 2.1.
The project team only buys back 1 million tokens annually, like scooping water out of a leaking boat with a small spoon? The spot price simply can't rise; it's all bulls using leverage to rush ahead.
With no real consumption or burn, under such market conditions, liquidating retail leverage with a spike is just a matter of the whales flicking their fingers. The previous low of 0.82 probably won't hold for long.
#SUI
$SUI
👇$IRYS This rebound looks impressive, but the order book is actually extremely weak.
The price rose by 64%, yet the trading volume plummeted by 85%.
There is basically no capital entering to catch the dip; it's purely a thin order book being forcibly pulled up.
Above, there is a pile of trapped holders stubbornly holding on; if the buying stops even briefly, it could immediately reverse and crash through.
#IRYS
$IRYS
👇I've always been puzzled: whenever there's talk of cutting aid or trouble brewing, should I first buy some hard assets?
But every time the news comes out, the first to drop are the coins. This time is no different. Trump said he wants to end security aid to Israel; Israel was clueless, saying they hadn't even received the documents, yet the market ran first out of caution.
Later I realized, what falls isn't faith, but leverage. People who have multiplied their positions, upon hearing news that can't be priced, their first move is to reduce positions to survive. Whether you believe in Bitcoin or not doesn't matter. $BTC often takes the first hit from its own people.
So when this kind of news comes out, I don't rush to chase. I wait for those forced liquidations to finish before looking for direction. Israeli officials and defense agencies are now very concerned because Trump said that security aid to Israel is about to end. But the most notable thing about this whole matter is not the statement itself, but that Israel has not yet received any formal documents.
Security aid has never been a simple gift; it is the foundation of the US-Israel military procurement agreements. Israel's Channel 12 said this decision will affect the military procurement agreements between the two countries and also impact the Israeli Defense Forces' procurement plans. Even Israel's own defense department cannot clearly explain the meaning or implementation timeline of Trump's statement.
This creates a typical uncertainty gap: the direction is known, but the boundaries are not. What the market fears most is never bad news, but news that cannot be priced.
The transmission path is also very clear. Such events first hit risk premiums, not fundamentals. $BTC often moves first because it is treated both as a risk asset and a safe haven asset, attracting funds from both sides; $ETH and $SOL have greater elasticity, with their rises and falls amplified. But it should be noted that $BTC's reaction is emotion-based pricing, not a fundamental revaluation.
My judgment is twofold. If it is just a statement, it is closer to a bargaining chip, and risk assets will recover their losses within a few days. If it really materializes into a document and is written into the budget, then it is structural, and the Middle East arms procurement chain and the credibility of US fiscal commitments will need to be recalculated.
So what really needs to be watched is not what Trump said, but whether there is that piece of paper. Statements without documents can be withdrawn at any time; policies with documents require portfolio adjustments. 上一轮三个方向，一个赢两个输。BTC从77,668.49到77,795.30、+0.16%盈，止盈78,630和止损77,092一个没碰；XRP从1.2827到1.2803、-0.19%；TRX从0.323390到0.321950、-0.44%。三单里中一个，止盈止损都没被扫到。方向和仓位我一个不改，理由在下面。 投票已经开投，票还没数完。市场给民主党横扫两院开的赔率是七成，期权那头更直接：11月4日到期的隐含波动率报43.5%，比后面几个期限整整高出7个点——这是给投票夜买保险，不是给趋势定价。我翻过过去三个完整选举周期，一年期回报都是正的，但没有一次是一路向上，结果落地后的头几周先洗一遍仓位是常态。2022年11月那场信任崩塌之后，是两周下跌加三个月横盘；这次不一样在那颗63亿美元的雷当天就被吞掉了，76,300砸下去只留了一根下影线。 资金面的账很难看：两个交易日现货产品被赎回合计约10.4亿美元，其中一只头部机构的基金单日流出4.05亿、是6月以来最大的一笔，全行业基金总持仓跌破千亿美元。可价格从76,455爬回77,800上方。钱在走、价在涨，接货的不是这些通道里的钱。这里有Triple-line hedging is not a free pass: Big Brother Maji's tough ledger
Big Brother Maji is toughly holding the market with a massive long-short combination: $BTC short, $ETH long, $HYPE short advancing on three fronts, with a total margin of about 5,698,000 U and a total position value of about 62,980,000 U, maximizing the intensity of the game.
The BTC short is the "profit cushion" in the portfolio: 40X full position, holding -249.9 BTC, opening average price 78,104.1 U, unrealized profit +325,700 U, funding fee +166,300 U, liquidation price 103,059.49 U. The ETH long is under pressure: 25X full position, holding 9,823.81 ETH, opening average price 2,427.28 U, unrealized loss -1,722,900 U, funding fee -82,200 U, liquidation price 1,561.77 U. The HYPE short is the main source of loss: 5X full position, holding -259,600 HYPE, opening average price 72.8005 U, unrealized loss -2,765,900 U, funding fee +1,203,000 U, liquidation price 106.72 U.
Roughly summed up, unrealized P&L is about -4,163,100 U, funding fee about +1,287,100 U, still an unrealized loss after hedging. The money earned from the BTC short is being swallowed by the ETH long and HYPE short. #美国中期选举在即，哪些结果值得关注？ #苹果Q4营收超预期，下季度毛利率指引承压 #PalantirQ3营收增长96%，股价不涨反跌 $SOL
8567 SOL tokens. This batch of coins was transferred from the stolen funds address to Privacy Cash this morning, clearly visible on-chain.
At the same time, 1WIN's TGE running on Solana saw a subscription of 61.02 million USDC, oversubscribed by 15.6 times. While some are laundering, others are rushing to grab shares.
Price is 93.34, 1.3% higher than yesterday's opening, just 0.60 away from the 24-hour high of 93.91.
I'm watching the volume. At 10 PM last night, the hourly candle showed 580,000 trades; the latest candle shows 31,131 trades, shrinking nearly twentyfold in nine hours, yet the price remains steady between 93.3 and 93.9.
Open interest is $336 million, with positive funding rates—longs are paying to support shorts.
I'm not chasing this move. Those laundering are selling, those grabbing quotas are buying; neither side is in a hurry. When volume empties, whoever acts first sets the direction. I'll wait until trades exceed 200,000 again before watching.
#美国中期选举在即，哪些结果值得关注？ Short positions account for more than half, but the real pricing factor is not the long-short ratio, it's the number on Friday night
All three coins have a short position advantage, which easily makes people think that "following the trend to short" is a natural choice. But first, take a look at the macro background: the probability of a 25 basis point rate hike in December is already priced at about 75%, with only 25% left for no change. Under this denominator, the overall bearish bias in the crypto market is not "sentiment," but a result of interest rate expectations.
The problem is, between "shorts dominating" and "being able to push the price down," there is a layer of position structure. In the past 24 hours, BTC long liquidations were 203 million, while shorts were only 17.2 million, a brutal long squeeze; but open interest barely moved, and the funding rate remains at a positive premium of +0.65%, with a long-short position ratio of 65/35 still favoring the long side. Long positions were liquidated, but leverage was not cleared—when one batch falls, someone immediately fills the same position. This means BTC's short advantage is an "on-paper advantage," not a "fuel advantage."
ETH is more subtle. The funding rate turned negative to -0.0054%, shorts started paying fees, and short-term sentiment is indeed weak; but open interest still has about 71.94 million contracts, with leverage piled up and not withdrawn. Shorts hold 56.79% while also bearing holding costs. The more crowded the shorts, the greater the elasticity of the reverse sweep.
So "shorting at this position is not cost-effective" is correct, but the reason is not "too many shorts," rather the nonfarm payroll on Friday is the real directional arbiter. October's new job additions are expected at 65,000, previous value 29,000. Just now, both speakers were turned down together. Around 05—06, BTC touched 78000, and ETH almost reached 2300. In the next hour, neither side reached the previous high again, closing slightly lower, and the trading volume also dropped together.
According to OKX spot data, from 06—07, BTC trading volume was about 20% less than the previous hour, and ETH was down by more than 20%. The hourly volatility on both sides narrowed, but placing this closing back into the 00:00 to 04:00 range, the difference remains. BTC closed at 77880, just 24.6 USDT below that highest price segment; ETH closed at 2293.29, still below the midpoint of its range.
I will treat this as a pause after a surge. Both coins are quiet together, but they may not choose the same direction. If BTC later also closes below the midpoint of the previous four hours, this positional advantage will fade. If ETH first recovers its midpoint, then the gap between the two will show signs of narrowing. Data is as of 07:00 Beijing time on November 4; the new hourly and current four-hour candles have not closed yet. For informational purposes only, not investment advice.$CORE CORE is now completely a pile of useless mud that can't be helped. On-chain data shows transactions flying fast, with 34,000 transactions in a single day, but guess how much the DEX trading volume is? Less than $150. This isn't even wash trading; it's pure empty self-entertainment.
The buy orders have long been drained, and even a little selling pressure is a bottomless pit, with order book support thinner than paper. The most critical issue is the 166 million "untraceable" ghost tokens still hanging overhead. Exchanges are shutting down one by one, the main players don't even bother to pretend anymore, just shuffling assets left to right to keep the lifeline alive. Don't catch the falling knife.
#CORE
$CORE
👇Fear and Greed Index at 27, down 11 points from yesterday. 📉 Sentiment has entered the "fear" zone, but fear itself does not constitute a bottom signal. BTC is currently around $77,000**, down 1.74% in 24H, daily low at **$76,641, with a 24H spot net outflow of $81.58M, weekly spot net outflow of **$488.59M**, and weekly contract outflow of $3.00B**—outflows are narrowing but have not turned positive. Price remains below MA(5) $77.39K and MA(10) $78.73K, structure not yet repaired. On the ETF side, on November 2, Bitcoin spot ETF had a net outflow of **$399M, with BlackRock IBIT withdrawing $405M in a single day. ETH is relatively resilient, currently around $2,300**, up 1.18% in 24H, daily low at **$2,242 but recovered. However, the capital flow is not supportive: ETH spot ETF has had net outflows for 6 consecutive days, with a single-day outflow of $140M on November 2**, ETHA accounting for **$138M. Price rebound and ETF bleeding are happening simultaneously, raising questions about sustainability. SOL is around $93.5, basically flat in 24H, but the liquidation structure is extremely skewed: over 90% of 24H total SOL liquidations are longs, with shorts only about $2.5M. Longs are crowded, the fuel for the rebound is in Has $BTC $ETH pulled through? Can the ICU tube be removed or should it be transferred to a general ward!
"Snapshot of Chips in the Squeeze Market"
Currently, the daily chart is oscillating back and forth on a flat needle, with a chip wall above and support piles below, the price rubbing back and forth in the middle
First, look at the 24-hour concentration zone below: BTC 76236.7, funds 44,062,700, -0.73% from current price; ETH 2233.08, 10,697,500, -0.76%; SOL 90.69, 4,911,400, -0.97%. Close support clusters make it easy to find backing when falling
Above is not empty either: BTC current price 76798, upper concentration at 78721.3, 42,124,600, +2.50%; ETH current price 2250.27, upper 2297.66, 20,388,100, +2.11%; SOL current price 91.58, upper 95.26, 6,116,600, +4.02%. The chip concentration overhead is also dense
The squeeze has not broken yet, with many short-term disturbance windows back and forth. Focus on which edge loosens first, don’t chase shadows, be cautious catching flying knives!
#PalantirQ3营收增长96%，股价不涨反跌 Historical benchmark is somewhat positive: In the 12 months following 19 midterm elections since 1950, the S&P 500 posted positive returns every time, with an average gain of about 15%; however, the process was not smooth. In 11 of these 19 cycles, there were drawdowns exceeding 10%, and the median low point often occurred about 5 weeks before the election. The election outcome mainly serves to "end uncertainty" rather than "create a bottom." Sector-wise, in the three months after the election, Information Technology, Real Estate, and Communication Services showed relatively outstanding average returns, reflecting a phase of risk appetite returning.
But 2026 presents a key difference: suppressing factors are not limited to the election. Currently, the U.S. stock market faces triple headwinds from AI capital expenditure concerns, midterm elections, and liquidity tightening, with liquidity considered the greatest risk. The Federal Reserve is holding interest rates steady, but the market still prices in a high probability of a rate hike in December, and the 10-year U.S. Treasury yield remains elevated. HSBC warns that historical patterns may mislead this time, as risks like excessive AI investment and Middle East tensions persist.
The impact of the election result itself on direction is also overestimated. In cases of divided government, the average gain one year after the election is about 15%.
In summary: For the U.S. stock market after midterm elections, historical patterns provide a probabilistic advantage, not a smooth upward line. The record of positive returns in the 12 months post-election is striking, but double-digit drawdowns mid-cycle are normal. What truly determines the height of the trend is not which party controls Congress, but whether the Fed hikes rates in December and whether AI capital expenditures can translate into profits. The election gives the market a "breather," but how long it lasts depends on macro variables.I always thought that when short on money, bonds would be issued, but I didn't expect the Treasury to buy bonds back. On November 4th, it plans to spend up to $6 billion to buy back some 10- to 20-year government bonds.
Sounds impressive, but this amount is actually tiny in the government bond market. It's more like a signal saying: I'm keeping an eye on the long end.
As for whether $BTC will rise because of this, don't overthink it. A bit more liquidity is good, but $6 billion won't move a big market. If you want to get a feel for it, you have to see if there's another round coming.On November 4th, the U.S. Treasury plans to repurchase up to $6 billion of 10- to 20-year Treasury bonds. The scale is not large, but the direction is worth noting — this means the Treasury is injecting money into the market, not withdrawing it.
First, let's look at the focus. The $6 billion will be used to buy medium- to long-term old bonds with maturities of 10 to 20 years, not short-term overnight bonds. The medium- to long-term segment is precisely where liquidity is thinnest and where selling often causes sharp price drops. By using cash to buy back these old bonds, the Treasury is effectively cushioning the most fragile part of the entire yield curve.
To clarify the mechanism: this is debt management, not monetary policy. The Treasury's repurchase of outstanding bonds moves money from the Treasury account to bondholders, increasing cash in the market slightly and pushing down long-term yields a bit. It will not cut interest rates or expand the balance sheet, but it does ease the cost of money marginally.
For crypto, this is a marginal variable, not a driving force. $BTC is most sensitive to liquidity and often reacts first to such moves; $ETH follows risk appetite and needs the stock market to cooperate; $SOL is the most volatile, rising quickly and falling quickly. The real determinant of direction remains how interest rates move afterward.
One point worth considering: $6 billion in the U.S. Treasury market is barely a drop in the bucket. So the value of this round of repurchases lies not in the scale but in the fact that the Treasury is willing to act on the long end. The market reads the attitude, not the amount.#تقرير Circle earnings are on the horizon, can stablecoin growth deliver returns? The market doesn't lie: The positives and pitfalls of three coins🌊
$TRX On-chain volume is brisk, but the market looks calm. About $242 million stolen funds were laundered through the TRON channel in two days, with turnover ten times the hacker's holdings, yet the price remains steady; more troubling is that about 475 million TRX are still held by the hacker, and a slow sell-off is the real risk.🧨
$UNI The rise has two drivers: DEX market share grab, and protocol revenue plus burn expectations; an 18% weekly gain shows capital favors stories with "cash flow." But the sell wall is real too: hackers have cashed out about $22.8 million via swaps, with 3.16 million tokens still to be dealt with. The narrative pushes up, while chips press down.⚖️
$LIT License expectations lead the rally: near the top of gainers, FDV about $3.4 billion, planning to apply to the CFTC in November; if approved, it will be a compliant on-chain perpetual in the US. But the contract reveals another side: 50% of team and investor tokens locked until December, then linearly released over three years; buying above $3 is buying expectations, after December supply pressure awaits.🎢
Summary: Watch $TRX at 0.30 and hacker holdings, $UNI at $7 to see if the sell wall is absorbed, and $LIT for overextended expectations above $3.📌Bithumb 一纸公告，CORE 持有者的心跳是不是漏了半拍？ 如果明天 OKX 也跟进，你手里的 CORE 还拿得住吗？ 早上刷到 Bithumb 停止支持 CORE 交易对的消息时，我盯着盘口愣了几秒。不是因为仓位多大，而是那种"交易通道在收窄"的实感，比一根阴线更让人警觉。原文其实说得很克制：OKX 还没发公告，只是假设。但市场从来不是等公告才动的，它交易的是预期，是"下一个会不会轮到我"的恐惧。 先把事实摆清楚。Bithumb 宣布的是停止交易支持，不是项目归零，也不是链上资产消失。这两者差别很大，但盘面往往先按最坏情况定价。CORE 这类依赖中心化交易所入口的资产，一旦主渠道减少，最先受影响的是买卖深度，接着是报价滑点，最后才是持有者的心理防线。你会发现，真正被重定价的不是代币本身，而是"退出路径的便利性"。 这里有个容易被忽略的第二层传导。交易所下架或停支持，短期砸的是 CORE 的现货情绪，但中期会改变一类资金的偏好：做市商不愿意在通道不确定的标的里留库存，量化策略会把这类币从白名单里挪走，连带着山寨板块里"靠单一平台流量吃饭"的项目都会被重新审视。BTC 和 ETH What does the Binance hack incident illustrate? What lessons does it offer?
This largest-ever coin theft at Binance shatters the illusion of absolute security at top exchanges. The hacker did not break private keys but gained internal permissions and exploited the EIP‑7702 authorization mechanism to transfer funds. This reveals that custody security weaknesses often lie in personnel, permissions, and processes, and even the largest platforms face single points of failure risk.
The underlying mechanisms of different tokens determine vastly different fates after theft: stablecoins have issuer freeze permissions to block and limit losses; governance tokens like SNX can be recovered through contract permissions; pure PoW coins like BTC, ZEC, and RVN have no centralized switch, making on-chain confirmed transactions nearly irreversible.
Custody is only a platform’s credit endorsement, not true ownership of your assets. For long-term holdings, self-custody is preferable; exchanges should only hold short-term trading funds. Do not place all your chips on a single platform.
The fundamental logic of inflation and scarcity also manifests in security incidents: coins with a hard cap rely on consensus and computing power for value; coins with unlimited issuance face not only custody risks but also ongoing long-term pressure from dilution. The big short position holder on the $SOL chain hasn't withdrawn yet; the liquidation line for 250,000 SOL is stuck firmly at 123.
With such an obvious target hanging on the chain, how could the main forces on the market let it go? Large spot funds below are continuously supporting the price, and the long leverage in the market has mostly been washed out.
As soon as it pushes up a bit and triggers a forced liquidation, a huge passive buy order will directly crash into the market. Each of these people will be carried out one by one.
The shorts are purely holding on by tough talk this round; it's almost time for the buy orders to settle.
#SOL
$SOL
👇Three coins rebound simultaneously, all with shorts pressing down on their heads. But at their feet, they diverge into three paths: ETH clears shorts below, shorts above are recognized by the cycle, bulls are pushing; BTC bulls are cleared, positions are still withdrawing, no one is catching the rebound; SOL's liquidation amount is an order of magnitude smaller, the short above is a bull trap not recognized.
$BTC | Resistance 78,230 | Support 76,440
BTC short above 78,230 is 0.50% from the current price, very close, but the cycle only recognizes downward movement, not this upward wave; long below 76,440 is 1.80% away and is more solidly recognized by the cycle. The liquidation amounts above and below are almost symmetrical, each about 21 million. The 4-hour Bollinger middle band is up 0.37%, bandwidth 2.81%, amplitude 0.70%, very small, price is moving sideways. Positions withdrew 1.29% in 24 hours; among nearly 14 liquidations, 95% were longs, big players are bearish, retail is catching, the rebound is a short squeeze with no one catching it. The short above is very close but not truly touched, the side below is heavier.
$ETH | Resistance 2,322 | Support 2,276
ETH long below 2,276 is 0.72% close to the current price, but the cycle does not recognize downward movement; short above 2,322 is 1.28% away and is recognized by the cycle; liquidation amounts above and below are each about 20.78 million. The 4-hour Bollinger middle band is up 0.80%, bandwidth 3.13%, amplitude 0.89%, price is above the middle band. Positions increased 2.40% in 24 hours, volume ratio 3.05 shows obvious volume expansion; among nearly 10 liquidations, shorts dominate.HOT current price is 0.00056200, exactly stuck at the upper edge of the short position liquidation dense zone. MACD is still rising, the 50/100/200 moving averages are in a bullish alignment without divergence, but RSI is already close to overbought, indicating a clear discount on short-term upward momentum. The 24-hour market volume of 63.85 billion USD is shrinking, showing that incremental funds have not kept up. For small-cap coins like HOT, the pump relies more on stock game. After short positions above 0.000562 are triggered, a quick spike followed by a pullback is likely, making chasing longs a poor risk-reward trade.
Just moved the electric bike that was parked disorderly outside the booth into the line, now back to watching the market.
Trading bias is bearish on pullback: do not chase longs near the current price of 0.00056200, wait for a rebound to the 0.00056500 to 0.00056800 range to try light short positions in batches, with the first take-profit target at 0.00054800 and the second at 0.00053800. Place stop loss at 0.00057500; if it holds above this level, it means liquidation momentum is not over, and shorts must be exited. If the price directly breaks down below 0.00054800 with volume, do not catch the falling knife; wait for a pullback confirmation before considering a short-term long. Control position size; in this overbought and liquidation-squeezed market, the probability of stop-loss hunting back and forth is high.
$HOT
#PalantirQ3营收增长96%，股价不涨反跌
@OKX星球 Epic Slow Bleed: CORE Keeps Falling, a Game with No Winners
As of November 3, 2026, CORE is priced at about $0.012, down approximately 29% over 7 days, with a 24-hour trading volume of only about $3.09 million and a circulating market cap of around $12.48 million, down over 99% from its all-time high. This is not a sudden crash but a daily slow bleed: weak rebounds, thin support, repeatedly frustrated narratives, making holders increasingly passive. The first blow was a security incident that shattered trust. On October 31, the b14g dual staking protocol was attacked, with about 97 million CORE tokens withdrawn without authorization. On November 3, the Core network recovered about 68.15 million tokens through a hard fork, accounting for approximately 70.2% of the affected amount, but these have not yet been allocated to affected users, and frozen exchange funds have not been returned. The second blow is the slow implementation of the buyback mechanism. The 2026 roadmap proposes revenue-driven buybacks sourced from BTC staking yields, AMP management fees, LST issuance fees, ecosystem transaction fees, and more. However, the current real ecosystem revenue scale remains small, making it difficult to offset the trust loss after the security incident. The third blow is the delay of key modules. lstBTC development is suspended due to Maple-related compliance issues, weakening the short-term implementation capability of the BTCFi flywheel. The fourth blow is liquidity drying up. Trading volume is only about $3.09 million, and a small number of sell orders can easily crush the price, with rebounds lacking support. The fifth blow is ghost tokens looming overhead. Recovered tokens, frozen funds, and affected user balances remain unclear, potentially becoming latent selling pressure at any time This is the latest total liquidation data. I'll break it down for you brothers; inside lies the truth of the long-short battle.
First, look at the 4-hour and 12-hour periods, which are the main battlegrounds of this recent rebound: 4-hour liquidations total 12.29 million, with shorts at 9.18 million and longs at 3.10 million; 12-hour liquidations total 93.65 million, with shorts at 64.24 million and longs at 29.41 million. See it? Almost all the liquidations in the past half day were shorts—BTC was pulled from 76,665 to 78,000, and those who chased shorts or tried to top-sell were all liquidated by this rebound.
Looking further back at 24 hours, total liquidations reached 175 million, with longs at 96.01 million and shorts at 78.90 million, with longs actually a bit more. Why? Because including the drop from 78,800 to 76,665 the day before yesterday, a large number of bottom-fishing longs were liquidated.
Connecting these two time frames: first a drop liquidated longs, then a rise liquidated shorts. Up and down, retail traders on both sides got harvested once. The largest single liquidation was on Binance BTCUSDT, a single order of 8.78 million USD, indicating that big players/heavy positions were also swept out.
#美国中期选举在即，哪些结果值得关注？ $BTC $ETH $ZEC 昨晚还在喊“回撤接人”，今早盘面直接把方向盘拔了——这不是倒车，是坠崖。$BTC 夜间还画出诱多门口，早盘连77000都守不住，最低直落76700，短周期均线全线失守，说明大资金在非农与CPI公布前正在夺门而出。76500是眼下第一道门槛，破了就是深坑，这不是“洗盘”的措辞能遮住的结构性撤退。 真正值得警惕的不是跌幅，而是跌法。$ETH 昨夜冲到2317，如今回看更像一次标准的“找人接棒”，随后最低触2237，弱势比$BTC更彻底。ETF持续失血，以太坊已丧失独立支撑能力，2300从支撑翻成天花板——弱势资产不轻言底部，因为它连反抗的动作都没有。$SOL 则是全场最惨：毫无抵抗直接跌破92，最低90.87，此前坚持的多头队伍彻底投降，盘面呈现的是恐慌性抛售，而不是有序回调。此时去接落刀，需要的不只是勇气，而是对宏观日历的误读。 我的判断是：这轮下跌的本质不是币圈内部利空，而是宏观避险资金的提前撤离。非农和CPI本周接连落地，风险偏好被压缩，资金选择先离场再观望，于是所有短均线同时失效、所有“支撑”同时变成“天花板”。人群容易把这种下跌当成抄底机会，却忽略了它是由日历驱动的、有明确时间窗#Circle财报在即，稳定币增长能否兑现收益？ In the past 5 quarters, EPS exceeded expectations 4 times (Q2 was slightly below or flat, with varying source standards); revenue was below expectations in the last two quarters (Q1, Q2).
• Consensus expectations are high: revenue about 790 million (Q2 actual 701 million), EPS about $0.35–0.38 (Q2 actual $0.18). To meet expectations, a significant quarter-on-quarter jump is needed, which is not easy.
• Declining interest rates have lowered reserve yields, offsetting circulation growth.
Possible upside points
• Improved post-distribution profit margin (rose to 41% in Q2)
• Reduced one-time expenses and controlled operating costs
Conclusion
• Revenue: tends to be slightly below or close to expectations, my prediction is NO
$CRCL CORE's "Darkest Hour": It's not a one-day drop, but a two-year decline. How much longer will it fall?
As of November 4, 2026, CORE is priced at about $0.01, with a 7-day drop of approximately 29%, a 24-hour trading volume of about 13.42 million RMB, and a circulating market cap of about 122 million RMB, down over 99% from its all-time high.
CORE's darkest hour is not a single-day crash, but simultaneous pressure on narrative, security, liquidity, supply, and revenue recovery.
How much longer it will fall depends on four things:
1. Whether the tokens recovered by b14g can be distributed. About 97 million CORE tokens were unauthorizedly transferred out at the end of October; on November 3, a hard fork recovered about 68.15 million tokens but they have not yet been distributed to affected users.
2. When the frozen funds in exchanges will be returned. Without returning these funds to users, rebuilding trust will be very difficult.
3. Whether buyback and burn can outpace unlocking. The 2026 roadmap has shifted to income-driven buybacks, but the ecosystem's real revenue scale remains small.
4. Whether trading volume and TVL truly recover. Under low liquidity, any rebound may be suppressed by users trying to exit positions.
My view:
CORE may not go to zero, but in the short term, it is difficult to reverse based on "public chain narrative." It is more likely to enter a long repair period: first clearing security incidents, then verifying the buyback mechanism, and finally discussing liquidity recovery. Before these three signals are clear, rebounds are better seen as opportunities to reduce positions rather than bottom-fishing. Is 0.013 CORE the bottom? Under five layers of pressure, do you dare to catch the falling knife?
As of November 3, 2026, CORE is priced at about $0.012, down approximately 29% over 7 days, with a 24-hour trading volume of about $3.09 million and a circulating market cap of about $12.48 million, having retraced over 99% from its all-time high. 0.013 is not a reliable bottom. It is merely a price point under the current extremely poor liquidity conditions and does not indicate that selling pressure has been exhausted. The five layers of pressure remain: 1. Security pressure. At the end of October, the b14g dual staking protocol was attacked, with about 97 million CORE tokens unauthorizedly transferred out; on November 3, a hard fork recovered about 68.15 million tokens, but they have not yet been allocated to affected users. 2. Narrative pressure. The BTCFi narrative persists, but the security incident has weakened the trust foundation. 3. Revenue pressure. There is a buyback and burn mechanism, but the ecosystem's revenue scale is still small, making it difficult to offset selling pressure. 4. Inflation pressure. The total supply is 2.1 billion tokens, with long-term unlocking pressure unresolved. 5. Liquidity pressure. The trading volume is only about $3.09 million, and a small number of sell orders can easily break the price. The premise of catching the falling knife is to see genuine buying return. Otherwise, any rebound looks more like a window for breaking even and exiting.
Three observation points: the token recovery allocation plan is clear, exchange-frozen funds are being unfrozen and returned; trading volume and buy-side depth are continuously recovering. The above is market observation only and does not constitute investment advice. Would you like me to combine CORE's three observation signals and compare them with key signals from other public chains before their bottoms as the next part of the series?Tracing stolen funds led to a mixer: hackers have started laundering money
Binance's $6.3 billion stolen funds laundering phase has switched to a new method: Elliptic reported that starting November 1, hackers used CoinJoin mixers for the first time, and by early November 2, they had made 18 transactions, mixing about 28 $BTC and approximately $2.2 million into Wasabi-style mixers. The money came from funds on Tron and some stationary $ETH converted into $BTC.
On November 3, there was a new development: Onchain Lens found that addresses related to the hackers sent 8,567 $SOL and about $798,000 into the Privacy Cash mixer pool on Solana, avoiding exchanges and new wallets, aiming solely to break the link between source and destination.
The accounting is clear: stolen funds have spread across 11 chains, about 12,000 wallets, and over 40,000 transactions. Approximately $2.85 billion, or 44%, has been frozen, leaving about $3.24 billion remaining. The majority is in $ETH and 18,270 $BTC that have not moved so far; less than 3 million has been mixed, which is just a fraction of the $6.3 billion, and almost no real cash-out has been observed.
One more point to clarify: Elliptic said the laundering is done by routine automated scripts, with no evidence that AI agents are making decisions. Once the mixer is activated, tracing stolen funds shifts from following the money to guessing where the money is. Next, we will see if the 44% frozen can be pushed higher.Many people skimmed past this message, thinking it was routine regulatory news, but actually it changes the boundaries of trading products.
The US CFTC has approved equity perpetual contracts to be traded on registered exchanges. US stock underlyings can be made perpetual on compliant venues, with no expiration delivery and no overnight rollovers. Tyler Ward's judgment is straightforward: Hyperliquid and Lighter are the main beneficiaries.
Why these two? Stock perpetuals and crypto perpetuals are the same thing at the matching layer: order book, funding rate, margin, liquidation engine. Whoever has already run this system smoothly on-chain will have the lowest cost to list US stock underlyings. Hyperliquid's depth and liquidation system are ready-made, which is why it ranks ahead.
The data also matches. Hyperliquid's total open interest across the network has surpassed $15 billion, currently at $15.176 billion. Such a large volume indicates it does not lack market makers nor people willing to leverage up.
But what I care about more is not who is named, but whether liquidity is willing to follow. The barrier is not technology, but whether US stock market makers are willing to put their inventory into the on-chain order book. The approval is just a ticket; market makers are the entry pass.
So the indicator to watch is very specific: can the US stock underlyings on $HYPE achieve spreads close to centralized exchanges? If yes, it’s a new track; if not, it’s just a high-leverage venue with a few more codes listed.This is the latest long-short account ratio as of November 4th: currently, longs are at 69.81%, shorts at 30.19%, with a long-short ratio of 2.31.
Comparing the changes: yesterday longs were still at 71.45%, today dropped to 69.81%, and the long-short ratio fell from 2.5 to 2.31. Note this detail — BTC rebounded from 76665 to 78000 this morning, the price rose, but the proportion of retail longs actually decreased.
This perfectly matches the previous open interest chart: open interest dropped from 33,700 to 32,800, and the long-short ratio fell from 2.5 to 2.31. This indicates that during this rebound, some retail traders who chased longs yesterday and got trapped have now exited near their cost during the rebound, actively reducing long positions.
This structure is healthier than the day before yesterday. The day before yesterday, the trend was buying more as prices fell, with longs piling up more and more. Now, during the rebound, some long positions have been cleared out, and the crowding level dropped from 71% to 69%.
But brothers, don’t relax your vigilance; a 69.81% long ratio is still relatively high, and most retail traders are still going long. The true emotional bottom is when longs drop to around 50% and the long-short ratio approaches 1 — that’s when clearing happens. Right now, it’s just a move from extreme crowding back to somewhat crowded.
Conclusion: The rebound accompanied by a slight clearing of long positions is healthier than a one-sided buildup of longs, but it’s far from a safe zone. Before the 78,700 resistance level, this batch of 69% longs still represents potential selling pressure.
#美国中期选举在即，哪些结果值得关注？ $BTC $ETH $ZEC If the "true public chain" can't save the coin price, what is the fate of CORE?
As of November 4, 2026, CORE is priced at about $0.01, down about 29% over 7 days, with a 24-hour trading volume of approximately ¥13.42 million RMB, and a circulating market cap of about ¥122 million RMB, down more than 99% from its historical peak.
The fact that the "true public chain" can't save the coin price indicates that the market no longer pays solely for technical narratives. The fate of CORE is most likely not to go to zero, but to degrade from a "high-expectation public chain" to a "low-liquidity recovery asset." The first path: BTCFi infrastructure development, but the token remains under long-term pressure. Core Chain has narratives like Satoshi Plus, EVM compatibility, BTC staking, ETP, etc., and the 2026 roadmap also shifts toward revenue-driven buybacks. But the problem is that the chain being alive does not mean the token is valuable. As long as buyback revenue does not outpace unlocking and selling pressure, the price will remain under pressure. The second path: low-liquidity zombie chain. Trading volume is low, buy-side depth is insufficient, and a small number of sell orders can crush the price. There may still be developers and users on-chain, but the secondary market lacks sustained incremental funds, making rebounds prone to becoming exit windows for break-even sellers. The third path: trust discount after security incidents. At the end of October, the b14g dual staking protocol was attacked, with about 97 million CORE unauthorizedly transferred out; on November 3, a hard fork recovered about 68.15 million, but these have not yet been allocated to affected users. As long as the handling of these assets remains unclear, institutional funds and large holders will find it difficult to rebuild trust.Strategy is buying again — 811 $BTC for $65.5M, avg $80,846, taking the stack to 849,327 BTC. That's its biggest weekly buy since September, but note the size: they also spent $208M buying back $STRC. $BTC is $77,288 now, below their $80,846 buy price. My read: conviction, but not a chase. Does Saylor buying under water change your view? #Bitcoin #Strategy$BTC That JPMorgan table is interesting, predicting Bitcoin's annualized volatility at 55%, but the actual measurement is just over 25%.
The risk exposure calculated by traditional financial institutions' internal models is cut in half, so what does this mean? When their compliance and risk control catch up, the previously locked capital limits will be released quite a bit.
Retail investors are looking for excitement in 1-hour candlesticks every day, while big institutions are slowly shifting with long-term balance sheets.
#BTC
$BTC
👇👇CORE has dropped 99.7%, why is it still falling?
As of November 3, 2026, CORE is priced at about $0.012, down about 29% over 7 days, with a 24-hour trading volume of only about $3.09 million, and a circulating market cap of about $12.48 million, down over 99% from its all-time high.
The continued decline is not simply because it "fell too much," but because trust, liquidity, and supply pressure have all become problematic simultaneously.
1. Security trust is damaged. At the end of October, the b14g dual staking protocol was attacked, with about 97 million CORE unauthorizedly transferred out; on November 3, a hard fork recovered about 68.15 million, but these have not yet been allocated to users, and funds frozen by exchanges have not been returned. The BTCFi narrative is premised on "asset security on-chain," and when the security layer fails, funds dare not return.
2. Liquidity is too thin. The trading volume is only about $3.09 million, so a small number of sell orders can push the price to new lows. Without buying support during rebounds, sustainability is naturally difficult.
3. Buybacks cannot relieve selling pressure. The 2026 roadmap indeed includes "revenue-driven buyback and burn," sourced from BTC staking yields, AMP management fees, LST issuance fees, etc. But the current ecosystem's real revenue scale is still small, far from enough to offset long-term unlocking and event-driven selling pressure.
4. Supply pressure exists long-term. Total supply is 2.1 billion, with a circulation rate of about 48%. Mining rewards decay annually and will be released over 81 years, so unlocking pressure does not disappear just because the price is low.
Should you hold on stubbornly or cut losses This is the latest open interest chart as of November 4th
Current open interest is 32,800 BTC, with a nominal value of 2.553 billion USDT. To compare: yesterday it was still 33,700, today it dropped to 32,800. Note this change — this morning BTC rebounded from 76,665 to 78,000, the price rose, but the open interest actually fell from 33,700 to 32,800.
This is completely the opposite of the day before yesterday. The day before yesterday was "price down, open interest up," price fell, positions piled up, retail investors kept buying long positions as the price dropped; today it turned into "price up, open interest down," price rebounded, positions decreased.
I've been trading for fifteen years, and this signal needs to be reinterpreted. What does a decrease in open interest during a rebound mean? It means this rebound is not driven by new long positions, but rather some old positions are closing out during the rebound — possibly short sellers taking profits or trapped longs getting out. Leveraged funds are not using this opportunity to add positions; instead, they are retreating.
Looking at the black line (nominal value), after peaking at 35,700 at the end of October, it has been declining recently, now at 31,600. This indicates that total leveraged positions have been decreasing from the peak for some time.
This is actually a somewhat neutral signal: healthier than "price down, open interest up," at least leverage is clearing out; but since the rebound is not accompanied by new positions, it means big money hasn't truly entered, just shorts covering pushing the price up. So don't treat this as a strong reversal. For a real strength, open interest needs to rise again during the rebound.
#美国中期选举在即，哪些结果值得关注？ $BTC $ETH $ZEC The bloodshed never stops! CORE keeps falling—is it a “golden pit” or a “massive trap”?
As of November 3, 2026, CORE is priced at about $0.012, down approximately 29% over 7 days, with a 24-hour trading volume of only about $3.09 million, and a circulating market cap of about $12.48 million, down over 99% from its all-time high.
Conclusion first: it looks more like a “massive trap” now, not a “golden pit.”
Where is the trap?
1. The safety narrative has collapsed. At the end of October, the b14g dual staking protocol was attacked, with about 97 million CORE tokens unauthorizedly transferred out; on November 3, a hard fork recovered about 68.15 million tokens, but they have not been allocated to users, and funds frozen by exchanges have not been returned. The premise of BTCFi is “asset security on-chain.” With the security layer broken, the narrative falls apart.
2. Liquidity is exhausted. Trading volume is only $3.09 million, so a small number of sell orders can easily crash the price, and rebounds lack support.
3. Income cannot support buybacks. Although the 2026 roadmap mentions “income-driven buybacks,” the ecosystem’s real revenue scale is far from enough to offset the long-term unlocking selling pressure.
4. Supply pressure remains. Total supply is 2.1 billion tokens, with a circulation rate of about 48%. Mining rewards decay annually and will be released over 81 years—why hasn’t it reached zero yet?
The BTCFi narrative still has some room for imagination; institutional nodes like BitGo remain, and the buyback and burn mechanism is still running. But these are reasons why it’s “not dead yet,” not evidence that it “can rise.” Three observation points are indispensable: whether the b14g recovered tokens can be clearly allocated to affected users.