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$BTC ETF在跑，但价格在涨
· ETF持续失血：比特币现货ETF连续两周净流出约9.1亿美元，上周单周流出2.29亿，贝莱德IBIT居首。10月累计已转为净流出约6.15亿美元。
· 成本线承压：BTC价格已低于ETF投资者的推算平均买入成本（约82,300美元），这意味着多数近期通过ETF入场的资金处于浮亏状态，任何反弹都可能引发解套抛压。
说人话：机构资金在持续撤退，反弹缺乏“聪明钱”的确认，上涨的基础并不牢固。 $BTC 加息预期“戏剧性降温”
这是当前最核心的矛盾——利好未被市场消化。
· 加息概率骤降：美联储10月加息概率已从一个月前的57.6%骤降至14.9%。美联储已进入FOMC会议前静默期，宏观进入“真空期”。
· 为何不涨：尽管宏观压力减轻，但比特币并未出现应有的价格重估，市场存在传导阻滞。布伦特原油仍在109.94美元高位，9月PPI高达6.3%，通胀压力依然顽固。
· 地缘变量：伊朗局势紧张，美伊对峙加剧，为市场增添了不确定性。
说人话：加息预期降温是实打实的利好，但油价高企和地缘风险压制了风险偏好，宏观利好被“打折”了。 Lợi suất giảm sâu kéo theo Vàng phục hồi mạnh mẽ. Thế nhưng dòng tiền trong khối sản phẩm rủi ro vẫn yếu. Bởi tính không chắc chắn của thị trường tương lai khiến nhà đầu tư lo sợ, dòng vốn ngắn hạn đi vào các kênh đầu tư an toàn như vàng thay vì btcThe crypto market has indeed been taking a beating recently. From October 12 to 16, the US $BTC spot ETF saw a net outflow of $229 million, marking the second consecutive week of losses; $ETH fared even worse, with a net outflow of $320 million, running out for the third consecutive week, with BlackRock's ETHA alone pulling nearly $300 million. ETFs are selling, and corporate treasury buying is also slowing down. Galaxy Research did the math: net ETF inflows plus corporate accumulation, minus the sudden sell-off of old coins dormant for over five years, results in a cumulative net selling pressure of 127,300 BTC year-to-date. In other words, institutions aren't absorbing fast enough, and old holders are offloading their coins.
Altcoins look even worse. 10x Research tracked 141 altcoins, which dropped an average of 14% last week, while $BTC only fell 3% in the same period—a nearly fivefold difference. Trading volume is shrinking, stablecoin supply is contracting, and funds are flowing out.
$BTC is hovering around 82,000 now, with the support at 82,226 repeatedly tested this week. The range from 84,000 to 86,600 has been capping it since early October. ETH is grinding around 2,400, with all short- and mid-term moving averages pressing down on it.
ETF outflows, treasury slowdowns, altcoin bleeding—these three factors combined mean funds are being pulled back in the short term. #机构资金转弱，BTC与ETH谁先迎来回流？ 4/4｜DEX与CEX的胜负，不是“去中心化就免监管”。要看实控、托管、产品与用户辖区；个案撤诉也不等于行业豁免。
更关键：协议赚到钱，是否归代币持有人？看分配、稀释与权利。
观澜｜据整理稿独立分析，非逐字核实，非投资建议。
#DeFi#SpaceX上市后首份完整季度财报将揭晓
我站在老玩家视角捋几个重点：
- 星链才是真正“现金奶牛”
之前那份季报就能看明白：星链用户持续往上冲、政企大单不断，是唯一能稳定给公司供血的板块 。这次大伙盯着： subscriber增量、移动业务进展、新频谱落地进度——这块数据稳得住，市场信心先打底。
- AI算力是最大变数，也是最大烧钱点
之前资本开支一大半砸去堆算力，一边签大订单一边狂花钱，市场就想看：算力出租收入能不能追得上投入速度？别光“签合同多、实际回款慢” 。要是AI营收增速超预期，那估值故事直接再续一波；要是还是只烧钱不见正向现金流，容易被资金泼冷水。
- 星舰是情绪催化剂，不是立刻赚钱项
最近几次试飞进步肉眼可见，但它短期不产生利润。财报电话会只要敢给一个更清晰的复用、发射节奏路线，就能带动一波情绪；反之光画饼，资金会觉得“太远了” 。
- 还有一个隐藏联动：对加密的间接影响
很多大机构是“一揽子成长资产配置”，如果SPCX这份财报大超预期，风险偏好抬一抬，顺带会给BTC这类风险资产一点情绪加持；反过来如果财报暴雷、成长股集体被甩卖3/4｜“看空但持有”不一定矛盾：观点、风险暴露和退出成本不同。没有仓位权重、负债与对冲信息，就没有可复制的交易。
美债收益率影响估值，但不是机械抽水；长债也有久期风险。
观澜｜据整理稿独立分析，非逐字核实，非投资建议。
#Securitize推出12只链上美股 $BTC $ETH 刚看到麻吉大哥的持仓，前面已经累计亏了3687万刀，这回又把手里仅剩的筹码基本推上桌:1970枚 ETH,25倍全仓做多。开仓价2401，爆仓价2376，中间就剩25刀的空间;更关键的是，可用保证金已经是0，等于安全垫被抽走了。
按这个摆法，ETH不用大跌，哪怕只回撤2%左右，这477万刀的仓位都可能直接扛不住。浮盈不等于真回本，高杠杆也不是翻本工具，这波更像是在赌命，不是在等机会。
现在重仓冲进去抄底，本质上也是赌。多杀多的情绪还没释放完，大资金大多在边上看，真没必要急着接飞刀。空仓等盘面彻底企稳，才更稳。
关键位盯紧:BTC 80000/78000,ETH
2300/2200，SOL100/95。2/4｜整理稿看好AI应用、担心硬件抱团。更值得提炼的是：价值最终要靠谁付钱？
健康AI不能只看设备销量，还要看续费、毛利、数据质量与临床验证。应用变强也可能拉动硬件，并非零和。
观澜｜据整理稿独立分析，非逐字核实，非投资建议。
#AI或推GDP至44万亿，投资能否回本？ Exchanges should design a zero-trust security system based on the underlying logic of "assuming a breach has already occurred"
Regarding the recent security incidents at Bybit (frontend/multisig hijacking) and Bitget (unauthorized hot wallet transfers), the industry must face a harsh reality: no defense line is absolutely impenetrable.
If an exchange's security architecture is still built on the traditional mindset of "how to prevent hacking," being compromised is only a matter of time. Future security systems must be redesigned with the premise of "assuming a breach/system intrusion has already happened."
💡 Three core shifts in zero-trust security design
1. Shift from "preventing intrusion" to "limiting the blast radius"
Assumption: Private keys or operator devices have already been compromised by hackers.
Response: Blind reliance on multisignature is insufficient. On-chain/off-chain enforced delay observation periods (Timelock), tiered approvals, and dynamic risk control circuit breakers must be introduced. Upon detection of atypical large transactions or abnormal contract interactions, the system automatically triggers a "pause button" to intercept.
2. Shift from "trusting the frontend" to "on-chain WYSIWYG (What You See Is What You Sign)"
Assumption: The web frontend and display interface can be tampered with at any time (e.g., Bybit Safe frontend hijacking).
Response: Eliminate blind signing on hardware wallets. Enforce independent parsing terminals (such as EIP-712 message decoding) for cross-verification to ensure the signer sees exactly what is executed at the underlying level.
3. Shift from "single-platform fallback" to "transparent industry-wide joint defense and reserves"
Assumption: Single-point defenses will eventually fail.
Response: Post-incident compensation (such as reserve funds) is only a stopgap. What truly matters is on-chain monitoring and cross-platform interception protocols. Exchanges should establish standardized collaborative freezing and rapid response mechanisms to reduce attackers' laundering opportunities.
🔒 Summary: True security is not a promise that "nothing will ever go wrong," but that the architecture can still tightly lock down the vast majority of assets even in the worst-case scenario.
💬 Community topic: Facing frequent exchange security incidents, do you now prefer to keep your assets on CEX or in Web3 cold wallets? Feel free to share your asset protection strategies in the comments!👇
#OKX星球 #Crypto安全 #Web3 #交易所安全 #BTC$ETH $BTC 在8万关口上方来回测试，现在主流币博弈的核心早已不是信仰，而是买盘承接力。
大饼当前在82000美元附近震荡，日内曾短暂下破82000，不过很快收回，能看出短线多头没有彻底退场，但8万美金才是决定大方向的分水岭。CPI、PPI数据双双超预期之后，市场重心全部转移到FOMC利率预期上。宏观层面如果释放不出宽松信号，BTC很难直接走出一波趋势性上涨。
ETH的盘面更加拉扯，价格在2400附近反复震荡。尽管BitMine上周再度增持12535枚ETH，其总持仓占到流通量约4.9%；但ETF持续资金流出，依旧压制市场情绪。机构在低位慢慢吸筹，短期游资却保持观望，这种资金背离，意味着行情很难一蹴而就。
个人判断很清晰：只要BTC守住8万大关，主流币种就存在轮动修复的机会；一旦跌破且无法快速收回，不要急于进场抄底。现阶段不用比拼看多的决心，重点考验大家回调时拿得住筹码、突破时敢顺势跟进的定力。$SOL 读这份孙宇晨访谈整理，BTC量子风险最值得追问的不是“哪天被破解”，而是迁移与共识。
新地址不等于抗量子，旧币被盗不等于增发。AI数学进展，也不能证明一年内破解钱包。
观澜｜据整理稿独立分析，非逐字核实，非投资建议。
#BTC成交萎缩，ETF买盘能否回暖 先泼点冷水，银行开放加密交易，不等于银行客户马上大举入场。DSGV宣布，德国储蓄银行自周一起让首批试点客户通过现有应用买卖及托管加密资产，计划每月新增30至40家分支机构，预计2027年上半年完成主要意向机构对接。我认这是渠道利好，但直接解读成增量资金潮，步子迈大了。
我偏谨慎有两个理由：一是接入数量不是活跃用户数，能交易和愿意配置之间，还隔着风险接受度与实际需求，素材没给客户参与数据。二是逐步上线意味着影响分批释放，如果市场把未来的覆盖预期一次性计价，那么后续即使按计划推进，也未必持续带来惊喜。这是我的推测，不是说银行渠道没价值。
当然，多头也可能是对的。老用户不用另找入口，确实少了一道使用门槛。如果后续披露的实际参与和交易数据能证明客户持续使用，而不只是机构接通，我会收起这盆冷水，承认渠道扩张正在转成真实需求。就这条消息，大家站多还是站空？理由是银行入口能带来新需求，还是市场已经把接入当成了入金？I believe Netflix's GAAP EPS for Q3 will not exceed $0.84
Conclusion: Leaning towards No.
The core reason is that $0.84 is higher than Netflix's own Q3 EPS guidance. To surpass this number, actual profits must exceed the original expectations.
1. Company guidance is only $0.82
Netflix's July Q3 guidance was revenue of $12.86 billion and EPS of $0.82. At that time, analysts expected about $13 billion and $0.84 EPS. To exceed $0.84, the profit side needs an additional surprise.
2. Market expectations are also low
Current mainstream EPS expectations are around $0.82, with some data at about $0.823. Market consensus has not pointed to above $0.84, so the threshold to break through is not low.
3. Revenue growth continues to slow
Netflix's year-over-year revenue growth declined from 17.61% in Q4 2025 to 16.19% in Q1 2026 and 13.37% in Q2. Revenue is still growing, but growth is slowing, so relying on natural performance growth to achieve a significant beat is not easy.
4. Advertising growth does not equal profit surge
The advertising business still has potential, but both the technology platform and sales team require investment, so revenue growth may not immediately translate into profit. The layoffs announced in October occurred after the end of Q3 and cannot be directly counted as a cost benefit for that quarter. Banks lock down AI to manage your money, while JPMorgan Chase puts its dollar deposit token JPM Coin on Ethereum: 24/7 instant settlement, for institutional use only. It's not that they don't understand blockchain, they just only allow themselves on-chain. Embrace crypto, or absorb public chains? Bank-backed dollars on-chain vs USDT, which do you choose? Macro Background: The "Seesaw" Between Oil Prices and U.S. Treasuries Determines the Height of the Rebound
The drop in oil prices is the direct catalyst for today's rebound. Brent crude fell from a 5-month high (around $110) to $106.84, down over 2%. Middle East supply has remained resilient amid U.S.-Iran tensions. However, oil prices remain high, and energy inflationary pressure has not truly eased.
The linkage between U.S. Treasury yields and oil prices is the core framework. Quarterly reports from Coinbase and Glassnode clearly point out: if the 10-year U.S. Treasury yield rises to 5.5%, or if rising oil prices continue to drive inflationary pressure, short-term market pressure will significantly increase; BTC breaking below the 200-day moving average (around $71,000) or ETF funds turning to outflows again also constitute downside catalysts.
The mid-term outlook for Q4 is not pessimistic. The report believes this round of gains is closer to the "dollar alternative asset" logic—BTC's daily correlation with gold and silver is 0.61, with the dollar index -0.43, and with the S&P 500 only 0.30. Long-term holders who have not moved their supply for over a year increased by about 340,000 BTC, turning back to accumulation in September. However, the $90,000 to $94,000 range remains the key resistance zone for the year-end market; until it is broken, the characterization of the rebound will not change. $BTC $ETH $ZEC #Tesla delivery exceeding expectations shifts focus to profit recovery $BTC is tugging around 81,000, you’re watching the candlesticks, I’m focused on something more painful: IBIT is bleeding again.
On October 16, the spot Bitcoin ETF saw a net outflow of 82.39 million, with IBIT alone accounting for 71.78 million. Looking back, on October 12, 65.4 million outflows "all came from IBIT." Within a week, ETF funds have been flowing in and out like a pendulum, but the institutional lifeline is definitely narrowing.
On the other hand, CryptoQuant’s analyst consensus index dropped straight from -18.3 in July to 49.2, with the bullish proportion soaring from 37% to 84%. The price is grinding near 80,000, but sentiment has already raced to the peak. This kind of divergence is exactly what deserves attention now.
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$ETH at 2418, the more I look, the more I feel it’s holding back.
Spot ETFs have been bleeding continuously since the end of September, with cumulative outflows exceeding 200 million, and active selling in derivatives is also increasing. Yet $ETH’s price is still higher than early August, leverage ratio has dropped to a seven-month low, old coins moved but haven’t been dumped massively on exchanges. Sellers keep selling, buyers keep buying. This "funds withdrawing but price not collapsing" scenario is either a false calm before the storm or bears digging their own pit.
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$ZEC at 1191, when it pulled up from the big bullish candle at 1048, I admit I was a bit stunned.
A 13% swing within hours, volume hitting 197,000 $ZEC, MA7 crossing above MA99. But what really made me sit up wasn’t the candlestick, it was on-chain: nearly 29% of circulating $ZEC locked in shielded pools, compared to only about 8% at the start of 2024. Paradigm’s co-founder publicly acknowledged holdings, and the launch of Grayscale’s $ZEC ETF added fuel to the narrative. The old privacy story is back, this time with real locked-up capital.
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But don’t just focus on crypto’s own hype. SpaceX’s financial report reveals 18,712 BTC hidden inside, while the largest IPO lock-up in history is being released in batches. The S&P just hit a new high, and once liquidity in tech stocks is drained, crypto won’t be able to ignore the impact. Netflix’s earnings tonight aim for 3 billion in ad revenue, but its stock has already dropped 22% this year — tech sentiment is as fragile as paper now, good news might not even move the needle.
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So my feeling is simple: $BTC and $ETH are in a war of attrition against institutional outflows, $ZEC is following its own independent narrative, and above all hangs the tension of tech stock liquidity. I’m not guessing direction; I’m watching whether $ETH can hold its price despite fund withdrawals, whether anyone will buy near $ZEC’s 1150 retracement, and after Netflix’s report tonight and SpaceX’s tomorrow, which way risk appetite will tilt.
Which one do you hold heaviest right now? $BTC $ETH $ZEC Drop a comment below, I want to see if I’m the only one who finds this market "weirdly interesting."
#InstitutionalFundsWeakeningWhoWillSeeReturnFirstBTCandETH #SpaceXFirstFullQuarterlyReportAfterIPO #NetflixGrowthMaySlowAdBusinessNewFocus If from 2015 to 2025, you buy the previous year's top-performing stock in the US S&P 500 every year and hold it for one year, then sell it at the end of the year and buy the current year's top-performing stock.
This momentum strategy would turn $10,000 into about $1.8 million by the end.
If the same strategy is applied to the A-share market, buying constituent stocks of the CSI 300 Index, that $10,000 would end up with less than $7,000.
Of course, if the scope is expanded to all stocks in both the A-share and US stock markets, you would suffer heavy losses, almost wiping out your investment.#Institutional funds weaken, who will see inflows first, BTC or ETH?
The boss has something to say
Today's live broadcast nailed all three trades. The short at 82,800 hit the 80,200 level, the second short at 82,500 nearly doubled, and the third long on ETH at 2,395 quickly closed at 2,420. The rhythm was very smooth.
Why can shorts keep hitting? BTC's rebound to the 82,500-83,000 range is a previous chip concentration zone and a short-term resistance level. ETF funds are flowing out, institutional demand is weakening, and macro-wise, oil prices remain high amid inflation expectations and ongoing rate hike pressure. The rally is just an opportunity for shorts. The first short took profit at 80,200 without greed.
The ETH trade was a short-term rebound play. 2,395 is a short-term support level. After locking in profits on the BTC short, I reversed to take a small rebound on ETH, exiting immediately at 2,420 to make quick money.
I checked the capital flow data. From October 12 to 16, US BTC spot ETFs had a net outflow of 228.4 million, ETH had a net outflow of 320.1 million, with ETH outflows larger. Galaxy Research pointed out that ETF and corporate treasury buying cannot fully absorb the supply released by long-term holders, with a net supply-demand gap of about negative 127,300 BTC year-to-date. The capital pressure has also spread to altcoins, with 141 altcoins averaging a 14% drop last week.
Currently in cash. Next, watch if the 80,000 level can hold. If it holds, expect consolidation; if broken, expect deeper correction. The resistance above remains between 84,000 and 85,000 $ZEC has support at the daily level; if the pullback doesn't go below 1000, the uptrend will continue. Enter long positions.#SpaceX's first full quarterly financial report after going public will be revealed
SpaceX's first financial report, with market expectations of revenue at 12.89 billion, a 65% year-over-year increase, and EPS possibly turning positive for the first time. But the numbers themselves are not the main point.
Starlink remains a cash cow, with Q3 revenue expected at 4.9 billion, adding 18,700 new users daily, and ARPU steady at $66. AI revenue is growing even faster, expected at 6.4 billion, surpassing Starlink for the first time, but the burn rate is fierce: Q2 capital expenditure was 18.4 billion, free cash flow negative 14 billion, and Q3 is expected to spend 19.6 billion.
Whether the money Starlink earns is enough to fill AI's gap is the real question this financial report needs to answer. High revenue growth is not difficult; the challenge is when the burn rate will peak. In 10 days, AAVE's open interest dropped by 27%, but the price only fell by 9%.
This 18% difference is not due to price decline, but because positions were liquidated.
Open interest calculated in USD roughly equals the number of contracts multiplied by the price.
A 9% price drop automatically reduces the USD amount by 9%.
The remaining 18% must be from actual position exits.
I checked 20 major cryptocurrencies.
From October 8 to 18, 17 of them saw a decrease in contract volume.
The steepest declines were APT down 21%, AAVE down 20%, ARB down 19%, ONDO down 18%, and AVAX down 18%.
ETH price only dropped 2.3%, but contract volume fell 16%, causing an $1.7 billion market to shrink by 18%.
Only 3 increased: DOGE up 4.5%, NEAR up 19%, and TIA up 103%.
I believe this reveals the real truth behind this downturn.
Price drops happen in two ways: one, someone is selling off; two, no one is buying.
If someone is selling off, price falls but open interest rises because shorts are opening positions.
If no one is buying, price falls and open interest also falls because longs are exiting.
Right now, it's the second scenario. 17 out of 20 are exiting.
TIA is the only one doubling its open interest, with price rising 38%.
Money hasn't left the market; it has just moved elsewhere.
Would you rather wait in coins where open interest is still shrinking, or in coins where open interest is growing?
$AAVE
#LeverageIsExiting This $143 million on-chain transfer, if interpreted simply as "BlackRock is dumping," really underestimates institutional investors. 883 $BTC + 28,900 $ETH moved into Coinbase Prime; panicked people see selling pressure, but anyone with a bit of understanding of custody structures knows this is most likely liquidity front-loading after ETF redemptions or quarter-end position rebalancing, not a liquidation signal.
What’s truly worth watching is where this transfer happened—$BTC is repeatedly testing around 82,000, and the buy-side liquidity below 80,000 is visibly thinning. Glassnode pointed this out last week: price bounced back to 82,000, but the "thickness" of support below is weakening; the structure is fragile. At this moment, BlackRock-related addresses sending funds to exchanges—even if just routine custody operations—will amplify sentiment into "institutions are selling."
The $ETH side tells a completely different story. Ethereum ETFs have continuous outflows; ETHA alone ran nearly $300 million weekly, accounting for over 90% of the sector’s outflows. But on-chain whales simultaneously accumulated over 166,000 $ETH at an average price near 2,500. ETFs are selling, whales are buying—this is not a simple "institutions are bearish" scenario, but two groups with completely different holding periods and trading venues exchanging positions.
So back to the question: which will see inflows first, $BTC or $ETH?
My judgment is that $ETH’s marginal reversal conditions will come together earlier than $BTC’s. $BTC currently lacks "new buying demand"; once the liquidity vacuum near 80,000 breaks, the drop will be rapid, and inflows depend on seeing ETF weekly net positive flows, which we don’t see yet. $ETH is different; its selling pressure has been partially absorbed by whales and staking narratives. With institutional-grade staking channels opening, $ETH has shifted slightly from a "pure risk asset" to an "income-generating asset," a narrative that endures better than $BTC’s "digital gold" in a choppy market.
This BlackRock transfer is not a starting gun but a mirror. It reflects that $BTC is holding on through sentiment and liquidity, while $ETH is slowly bottoming through chip rotation and narrative shifts. Which one sees inflows first doesn’t depend on how much BlackRock moved into Coinbase, but on which side’s selling pressure is truly "eaten up" first.
Whether $BTC can hold 80,000 is a short-term sentiment thermometer; whether $ETH can lock whale chips above 2,400 is the real mid-term signal of whether capital is willing to return.
#BlackRock launches two funds dedicated to stablecoin reserves $BTC $ETH #InstitutionalCapitalReturn #BTCSpotETFReturnsToInflow #ETHCapitalContinuesOutflow #InstitutionalCapitalWeakens WhichWillSeeReturnFirstBTCorETH? #Institutional funds weaken, who will see inflows first, BTC or ETH? BTC is most likely the first batch for institutions to return
The reason is simple: it is the "crypto market anchor" in the eyes of institutions, with the largest ETF size, the most stable liquidity, and the narrative leaning towards digital gold as a safe haven. Whenever the macro environment eases slightly and redemptions begin to slow, BTC is usually the first to show "stop outflows → small test inflows." When institutions re-enter, they don't immediately rush into high-volatility assets; they generally start with BTC to test and establish a base position.
- ETH belongs to the "late but explosive" category
ETH's current problem is that ETF fund stability is much weaker; at the slightest disturbance, redemptions happen faster, and recent outflows from top funds are especially noticeable. But it’s not without opportunity: once BTC inflows restore market confidence and the narrative (upgrades, real yields, on-chain activity) warms up, ETH’s volatility will be much stronger than BTC’s, though usually with a delay. It belongs to the "only added to positions once the market is confirmed to be rising" category.
- Watch for two inflow signals (simple and easy to remember)
1. BTC spot ETF stops large outflows for 2 consecutive days and shows sustained small net inflows; this signals a turning point in institutional sentiment;
2. Fed-related expectations no longer suddenly turn hawkish, U.S. Treasury yields no longer spike violently upward, macro constraints ease a bit, and only then will funds dare to truly return."On the list with a 39% increase, there are no names of BTC, ETH, or SOL💥"
The 24h gain leaderboard's top spot hit 39.42%, with the top five all altcoins. The three major mainstream coins didn't even make the list, and their 4h price changes are all negative📉
SOL reached 103.93, but 24h volume exploded to 13.61 million, with longs accounting for more than half — the biggest gains come from chasing highs, but also the harshest losses. This upgrade has only two days left without delay; volatility will definitely come, so timing is key.
ETH is stuck at 2394, with 24h volume at 110 million, 60% of which are shorts. BTC is hovering around 82045, with open interest at 52.794 billion, and 66.85 million volume split evenly between longs and shorts.
The entire network's 24h volume is 337 million, with 92,767 people liquidated, longs making up 55.7%. On October 16, all three major mainstream ETFs had net outflows: 82.4 million, 69.7 million, and 12.7 million, with cumulative withdrawals over five days.
Based on the above data, here are my thoughts:
1. The more the leaderboard celebrates, the more mainstream coins fall behind: hot money goes to altcoins to gamble big or small, no one dares to touch the mainstream. Gains are emotional, losses are consensus, so don't chase;
2. ETFs are bleeding out but open interest is increasing: BTC and ETH open interest are both rising, with money withdrawn off-exchange but leverage added on-exchange, gains are propped up by leverage, essentially a hollow death;
3. ETH shorts are repeatedly liquidated, ETFs are still bleeding. Banks selling coins to the wealthy is a long-term positive, but it won't save the short term; don't mistake a short squeeze for a reversal, better to test the waters with light positions.
Although the 39% gain on the leaderboard is tempting, the three major mainstream coins have all fallen over 4 hours, and ETFs are still bleeding — chasing the leaderboard is like counting money on the edge of a knife🔪First, to pour some cold water: bulls admitting losses does not mean bears have obtained a license to chase. I lean bearish, but I am unwilling to treat others' stop losses as my own sell signals. Core Trader 07 partially closed about 39% of their $ONDO long position this time, with a closing amount of approximately $507,800, realizing a loss of $27,138.45. This loss has been locked in; it is not a floating loss that can still wait for a rebound to recover.
I see two issues: first, the average opening price was about $0.4561, the closing price about $0.433, the price moved about 5.07% against the position, and with 3x leverage, the equity loss is about 15.2%. Even low leverage cannot withstand continuous directional errors; second, this is only a partial exit and cannot be directly taken as a complete bearish stance. If the price continues to fall, the remaining long position will be the most uncomfortable; but if selling pressure does not continue and there is a rebound, bears who chased this closing news as bearish might also get stuck in an awkward position. This is my risk assessment, not a statement that the market is already like this.
I also admit that the bulls might be right, and this reduction in position might just be a proactive risk reduction. If the price returns to near the average opening price of this trade and can hold on the pullback, I will retract my bearish view. My habit is to observe how the market reacts after selling, not to look at who lost money. Using the closing price of $0.433 as the observation point, are you more bullish or bearish? State your reasons: do you value the risk signal released by the position reduction more, or the subsequent absorption capacity?BTC, ETH ETF Core Data Analysis, only for those focused on Bitcoin and Ethereum!!!
BTC Spot ETF Core Data
In 24 hours, BTC spot ETFs saw a total net outflow of $82.4 million, with a single-day total trading volume of $3.47 billion, total ETF net asset value of $107.78 billion, and a historical cumulative net inflow of $57.34 billion.
Product differentiation: BlackRock IBIT had a slight net inflow, but other leading products like ARK and Fidelity experienced larger redemption volumes. Institutional funds show no trend of entering the market; during the rebound, they choose to redeem at highs to realize profits, with weak willingness for incremental funds.
ETH Spot ETF Core Data
In 24 hours, US ETH spot ETFs had a total net outflow of $37 million, maintaining a multi-day pattern of capital outflow, with total ETF assets under management of $9.1 billion.
Details: BlackRock ETHA outflow of $15 million, Grayscale ETHE outflow of $13 million, almost all products redeemed simultaneously. Institutional consensus on ETH for the mid-to-long term is weak.
Comprehensive Judgment
This round of rebound is driven by contract leverage funds; ETF institutional funds are overall retreating, not actively pushing the market up. There is significant divergence among whales internally; BTC whales are cautiously reducing holdings, while long-term ETH whales are quietly accumulating. There is a lack of sustained incremental ETF capital relay.
For market reference only, does not constitute any trading advice #InstitutionalFundsWeakening, Who Will See Capital Return First, BTC or ETH? #TeslaDeliveryExceedsExpectations, Profit Recovery Becomes Focus $BTC $ETH $ZEC $CRWV Goldman Sachs upgraded CoreWeave to "Buy," but cut the target price from $139 to $106.
The so-called 73% upside is more a result of the stock price falling. It has dropped 43% since August, and another 24% just last week.
What's even more interesting is that the unsecured bonds of the same company once yielded 13.5%–15%.
Stock analysts are calling to buy, but creditors demand such high interest rates to lend money.
The market's imagination for AI computing power remains, but CoreWeave's financing risk cannot be erased just by a "Buy" rating. #Institutional funds weaken, who will see inflows first, BTC or ETH?
The answer to "who will see inflows first" is written in the order of "who gets sold first."
▪️ From 10/12 to 16: BTC spot ETF net outflow of 228.4 million, IBIT alone −165.4 million
▪️ ETH spot ETF net outflow of 320 million in the same period, third consecutive week
▪️ Galaxy: ETF and treasury buying can't absorb long-term holders' releases, supply-demand gap −127,300 coins
▪️ Treasury side is also slowing down: Twenty One did not increase holdings
▪️ 141 altcoins down 14% last week on average, BTC down about 3%
▪️ Today BTC +0.66%, ETH +0.32%: the biggest outflow week, but prices are rising
The divergence is not whether funds have weakened, but that the question "who will see inflows first" is asked in the wrong direction.
Money is not leaving the market; it is retreating from the farthest row: altcoins −14% at the back row, BTC −3% at the front row.
Withdraw by distance, return in reverse order: first BTC, then ETH, and finally altcoins.
The direction is "BTC before ETH before altcoins" — condition: BTC net inflow for two weeks; invalid if altcoins drop another 10% and BTC follows down.SanDisk hit a new high again today, with OKEx's xSNDK reaching 1391, hugging the resistance line, up 7% in 24h, boosting the storage sector's sentiment. The SNDK 2x leveraged version led the market with a +14% gain.
The driver is a solid new catalyst: Goldman Sachs raised SanDisk's target price from 320 to 700 USD in one go, citing better-than-expected earnings and AI data center demand tightening NAND supply and demand, with the price increase cycle expected to last until the end of next year. Today, US storage chip stocks collectively strengthened: SanDisk +7.23%, Hynix +5%, Western Digital +6%, and OKEx is closely tracking.
Market view: OKEx xSNDK current price 1391, MA5/30/120 all bullish, super trend at 1365.9 below, RSI 68 not overheated, resistance at 1396 just overhead. My judgment: the NAND price increase cycle is a hard logic, more solid than pure sentiment, but how long the 1396 hurdle lasts and whether SanDisk's earnings report (coming soon) can beat expectations again are the next key factors.
Watch two signals: a volume breakout above 1396 is a new level, and whether the pullback holds the super trend at 1365.9; also watch NAND spot prices and the sustainability of capital in the storage sector. When the sector rises broadly, don't just chase leveraged tokens.
#Sandisk #NAND #Storage
Not investment advice, DYOR 2026年10月中旬，加密市场整体呈现高位震荡格局。比特币（$BTC ）稳守8.1万美元上方，以太坊（ETH）则在2377美元附近获得阶段性支撑后迎来超跌反弹。市场数据显示，BTC永续合约持仓情绪偏多，而部分山寨币如MEGA则出现明显冲高回落。基本面方面，ETH生态中L2竞争持续加剧，链上Gas费用维持低位；BTC现货ETF近期未见显著增量资金流入，市场缺乏新叙事驱动，当前行情更多依赖技术面轮动与空头回补。交易员普遍关注主流币前低支撑有效性，高杠杆环境下插针风险犹存，市场正等待新的增量资金或宏观信号打破僵局。$ETH #芯片股八连跌后反弹，AI交易能否修复？ [Pharaoh's Market Watch]
Tesla's Q3 deliveries exceeded expectations—Is this a real recovery or just a bluff?
Pharaoh says straight up, the delivery numbers are indeed impressive, but the market isn't looking at how many were sold; it's looking at "whether they made money." The core of tonight's earnings report boils down to one word: profit.
First, let's see how explosive the sales were. Q3 global deliveries hit 497,000 vehicles, up 7.4% year-over-year, a record high, exceeding Wall Street's expectation of 448,000 by a full 50,000. China was even stronger, with wholesale sales surpassing 90,000 in September, a 9% month-over-month increase, and even insurance data took off. Once the data came out, Tesla's stock price jumped over 1.5% in pre-market trading.
But Pharaoh has to pour cold water on this. Of these 497,000 vehicles, how many were achieved through price cuts? In Q2, automotive gross margin had already slipped to 17.2%, lower than last year's 18% for the same period.
So the key focus of tonight's earnings isn't revenue, but three numbers: Can the automotive gross margin hold above 17%? Can operating profit remain stable? Can free cash flow avoid turning negative? Analysts expect earnings per share of $0.53, revenue around $49.9 billion, a slight year-over-year decline—this is a typical case of "volume up, profit not up."
What impact on Bitcoin? Tesla is a bellwether for tech stocks. If tonight's gross margin beats expectations and Musk delivers some good news on Robotaxi, tech stocks could warm up again, and Bitcoin might catch a breather.
$BTC $ZEC #TeslaDeliveriesExceedExpectationsProfitRecoveryInFocus #TSMC Q3 net profit exceeds expectations, earnings hit a record high
TSMC's net profit margin surged to 51.1%, with 2nm wafers accounting for 8% of wafer revenue in the first quarter; ASML's customers are already discussing lithography machines for 2029 and 2030. Orders seem to be booked to the horizon, but the money is not.
CoreWeave holds 104 billion in undelivered orders, buying GPUs, building data centers, and pulling power, but has to pay cash today.
Bank of America's data is even more straightforward: hyperscale cloud providers' free cash flow for the next year has dropped below negative 100 billion, with capital expenditures consuming 95% of operating cash flow.
Orders are distant water, burning cash is immediate thirst, and if the financing chain tightens in the middle, the entire chain has to hold its breath.#Tesla launches new generation Roadster, market rises The launch of the new generation Roadster has boosted Tesla's market performance, but it should be noted that this sports car is more of a brand flagship product rather than a main revenue driver.
The Roadster focuses on extreme performance to strengthen Tesla's technological narrative, boost market confidence, and increase brand popularity. In the short term, it can easily stimulate stock price sentiment. However, it is positioned as a high-end niche product with limited delivery volume and shipment scale, contributing very little to overall revenue and profit, and cannot significantly enhance performance from a fundamental perspective.
From a market perspective, this is an event-driven sentiment rally with questionable sustainability. After a short-term surge in stock price, funds can easily cash out and exit. The true determinants of Tesla's medium- to long-term trend remain the sales volume and gross margin of its main models, as well as the progress of its autonomous driving business implementation.
Looking across markets, as a Nasdaq heavyweight, Tesla's short-term strength will drive sentiment in the tech sector and indirectly provide a slight sentiment boost to crypto assets, but the impact is limited and cannot change the macro liquidity-driven major trend.
Summary: The Roadster is a sentiment catalyst, not a fundamental turning point. The short-term market rise is more of a thematic speculation, and there is a risk of a pullback after the surge. $BTC $ETH $TSLA Capital Flow: ETF Lost $910 Million in Two Weeks, BTC Has Fallen Below ETF Average Cost
ETF — Net Outflow of About $910 Million Over Two Consecutive Weeks
Bitcoin spot ETFs saw a net outflow of $228.6 million last week, following a net outflow of $681.1 million the previous week, totaling approximately $910 million over two consecutive weeks. In October, the cumulative net flow shifted from a positive $293 million at the beginning of the month to a net outflow of about $615 million. Out of five trading days, three recorded net outflows, with Wednesday last week seeing a single-day outflow of $261.4 million, the highest of the week.
The Most Critical Structural Signal: Nexo analysts pointed out that this round of decline has pushed Bitcoin’s price below the average buy-in cost estimated by ETF investors, which is about $82,300. Whether funds will continue to withdraw or if low-level buying will drive capital flow and price to recover synchronously is the key observation point going forward. $BTC $ETH $ZEC #Netflix growth may slow, advertising business becomes a new focus South Korea's pension fund lost $137 billion in 100 days.
SK Hynix $SKHY 55.8 billion
Samsung Electronics 42.8 billion
Together, these two account for 98.6 billion, or 72% of the total loss.
Distributing this $137 billion evenly among South Korea's 51.7 million people means about $2,650 per person, roughly 19,000 RMB, including newborn babies. 🔍 Is this short position a directional bet, or is it hedging risk for another position? Core Trader 19 (0x0c1f69…9672b) opened a short on $AMZN with 20x leverage, nominal value about $230,500. I'll note this down first, but I'm not in a hurry to label it a “bearish whale.”
What can be confirmed: position size is 887.11 AMZN, reference price $259.81066, action is opening a short, not closing to realize profits. The data doesn't provide previous holdings or exact transaction time, so whether it suddenly turned short or has other positions coordinating is currently unknown.
An interesting detail here: this is my speculation, this looks more like a directional probe that requires strict exit control rather than a short that can easily withstand volatility. Roughly dividing nominal value by 20, the margin corresponds to about $11,500; if the price rises 1% against the position, the loss is about $2,305, roughly 20% of that margin. This isn't a precise liquidation line, but it shows that leverage narrows the margin for error, and just looking at $230,000 can miss this pressure.
I'll keep watching whether it adds to the short or reduces the position next time: if it reduces quickly, the short-term probe explanation will be more convincing. Let's all watch the follow-up—are you betting on “adding more shorts” or “reducing to control risk” first? Leave your judgment in the comments and see whose speculation is closer.Q3 deliveries exceeding expectations has already been an open secret, and the stock price's muted reaction also indicates that the market's focus has long since shifted. The core highlight of this earnings report is whether the automotive gross margin can stop its downward trend; additionally, the growth rate of the energy storage business, the ramp-up progress of Cybertruck production capacity, and the rollout progress of FSD are also critical. The phase of relying on price cuts to boost volume is nearing its end; the speed of profitability recovery is the key logic going forward. #Tesla deliveries exceed expectations, making profitability recovery the focus #Netflix growth may slow, advertising business becomes new focus The growth dividend from subscriber increases has long been mostly exhausted; Netflix's current stock price support now fully depends on the second growth curve. This earnings report focuses on the penetration rate and ARPU improvement of the ad-supported subscription tier, as well as the effectiveness of content cost control. The effects of price hikes and cracking down on account sharing are weakening. Whether the advertising business can take over growth directly determines if this upward trend can continue. #NetflixGrowthMaySlow,AdvertisingBusinessBecomesNewFocus ETH is currently trading at about $2423, up slightly by 0.83% in 24 hours, but down about 4.5% over the past week. The moving average structure looks very bearish: the 7-day, 20-day, and 50-day moving averages are all above the price, with the 20-day and 50-day averages converging between $2551 and $2559, forming a compressed ceiling. Looking downward, the $2360-$2400 range is a strong support zone that has been repeatedly tested in recent times; every time the price hits this area, it is bought back. The daily RSI is between 38 and 44, neutral to slightly weak but not oversold. The Stochastic indicator has already formed a golden cross in the oversold region, and the MACD histogram is converging from deep negative values toward the zero line. Technically, this is an extremely compressed pre-breakout phase; the direction is undecided, but energy is accumulating. The news side is what bothers me the most. Ethereum spot ETFs saw a net outflow of $320 million last week, marking the third consecutive week of outflows, and the outflow scale is even larger than that of Bitcoin ETFs. BlackRock's ETHA alone accounts for nearly 93% of this. ETFs are systematically retreating. However, on-chain data tells a different story: within 72 hours in early October, whale addresses cumulatively increased their holdings by over 166,000 ETH, with a nominal value of about $415 million, and this accumulation happened during the price decline, not chasing the rally. Coinbase spot buy orders also exceed sell orders by nearly $2.94 million. ETF redemptions are selling secondary market exposure, while whales are accumulating on-chain spot holdings; these two operate on different trading dimensions.#Google Cloud business grows 82%, how is the AI investment return?
Two clouds earn almost the same amount in a year, one spends 175 billion, the other spends 200 billion.
▪️ Alphabet Q2 cloud revenue 24.8 billion, +82% YoY, cloud operating profit 8.8 billion, profit margin 35.6%
▪️ Full-year capital expenditure guidance 195 to 205 billion, midpoint 200 billion
▪️ Microsoft FY26 Q4: Azure and other clouds +43%, expected 39.98%
▪️ Azure annual revenue surpasses 100 billion for the first time, capital expenditure about 175 billion
▪️ Google Cloud annualized about 99.2 billion, almost equal to Azure's 100 billion
▪️ Both report on 10/28
The difference is not who grows faster, but how much cloud revenue is returned per unit of investment.
Google spends 50 billion per quarter to get back 24.8 billion, Microsoft spends 43.8 billion to get back 25 billion.
One trades 2 for 1, the other trades 1.75 for 1; the one with double the growth rate actually has lower unit output.
The direction suggests "the faster-growing unit has lower output" — condition: both companies increase capital expenditure next quarter; invalid if Google Cloud growth drops below 50%.AI has taken over the task of chip replacement, lowering Nvidia's barrier.
In a collaborative paper, $AMD's chip achieved throughput close to its competitor.
How is this number calculated: ten recommendation models, same number of cards, same batch size.
The MI350X's comprehensive training throughput is 101.2% of the B200.
Back-calculating, the gap is less than two points.
A common misunderstanding: chip replacement is difficult, but not because of hardware.
The difficulty lies in rewriting years of accumulated customer code and debugging errors.
Previously, engineers had to painstakingly handle these tasks one by one.
Now AI repeatedly compiles, reads errors, and automatically supplements functions.
With migration costs lowered, customers dare to introduce a second supplier.
The bargaining power shifts from one side to both sides.
What really matters is not the benchmark scores, but the quoted migration labor hours.
#Chip stocks rebound after eight consecutive drops, can AI trading fix this?
#$AMD $NVDA #Google Cloud business grows 82%, how is the AI investment return? The winning move in Google's earnings report is not whether cloud revenue can maintain high growth, but that it is using free cash flow turned negative to bet on a variable that can rewrite valuation logic: TPU external sales.
Looking at the books first, cloud revenue surged, backlog orders hit a high, and profit margins are improving. But there's a hidden risk: capital expenditures doubled in Q2, directly wiping out operating cash flow, turning free cash flow negative. This burn rate would have driven most companies out of the market.
Why is the market still tolerating this? Because Google is doing something traditional cloud providers haven't done—selling its self-developed TPU hardware to external AI companies. Traditional cloud rents computing power with a profit margin ceiling; selling hardware is a one-time settlement, but requires massive upfront capacity investment, which is the fundamental reason for negative cash flow. The business hasn't worsened; the model is shifting from renting to selling equipment.
This is the biggest expectation gap. The market is still pricing it as a cloud company, but if TPU external sales really take off, Google's valuation system will be re-evaluated as an AI hardware vendor, breaking the valuation multiple ceiling.
Don't bet on whether cloud revenue beats expectations. Focus on the earnings call to see if management dares to present specific data or guidance on TPU external sales. If they dare to reveal it, even if cash flow looks bad, the capital will reprice; if they only use cloud growth to cover up the burn, then this earnings report is shaky. $GOOGL $xGOOGL - Nearly 44% unrealized profit on BTC holdings — when this number appeared, I stared at the screen for two seconds in disbelief. You spend every day drawing lines and watching the market, busy back and forth, and in the end, you outperform a country that "buys only 1 BTC per day"? Let's set the facts straight first: El Salvador holds about 7,800 BTC at an average price of around 55,000. Calculated at the current price near 81,700, the unrealized profit on the books is close to 40%. More importantly, the rhythm — since March 2024, they have been buying 1 BTC daily for over 900 days. The IMF forbids using national funds, so they circumvent this by continuing purchases through personal donations. This is not market timing; this is scheduling purchases on the calendar. What I really care about is not how much they earned, but what this implies for the current market. The market hovers around 81,700, sentiment is cold, and most accounts look bad, yet these "mindless dollar-cost averaging" positions are doing quite well, indicating that what is lacking now is not direction but patience and cost advantage. Derivatives further illustrate the issue: in a volatile range, funding rates frequently flip positive and negative, but positions are reluctant to withdraw significantly. Both longs and shorts crowd the narrow range probing each other. Once this structure is triggered by a one-sided move, the squeeze will be fiercer than the trend itself. Sector strength also reveals preferences: BTC, as the "national reserve narrative" anchor, is more resilient; ETH follows but with moderate elasticity; altcoins are clearly divided, with only a few supported by real buying standing firm, while the rest rely on emotional pulses. The bullish path is: as long as the 80,000 level holds aboveOn October 19, it was reported that last week, global publicly listed companies (excluding mining companies) net purchased $360 million worth of BTC, with Strive spending about $330 million, contributing over 90%. The actual buying pressure is somewhat bullish for spot demand, but since the funds are highly concentrated in one company, whether the buying pressure will spread remains to be seen. Next, attention will be on whether Strive can continue to increase its holdings and whether other listed companies will follow suit, to determine the sustainability of this round of institutional demand.
$BTC #机构资金转弱，BTC与ETH谁先迎来回流？ ONDO fluctuates so much back and forth, could small gains mislead market judgment? 🤔
Many people only look at the 24-hour price change, easily overlooking intraday volatility range. This type of rolling statistical method calculates using a continuous sliding 24-hour window, which differs from the fixed natural day statistical logic.
1. OKX spot ONDO/USDT latest transaction price is 0.4341 USDT, 24-hour increase 1.35%, with a high of 0.4426 USDT and a low of 0.4113 USDT.
Here is a common pitfall: net price change only compares the start and end points, while the high and low range represents the range the market moved through during this period. Even if the closing change is small, there can be significant fluctuations in between. The upper and lower bounds of the range cannot be directly treated as effective support or resistance; this judgment only applies to the current statistical period and cannot be directly extrapolated to subsequent market trends.
Current trading volume is 3,894,769.4813552 USDT. Whether the short-term market can hold this range still requires continuous observation.
#ONDO fluctuates so much back and forth did the price change fool you #Maji added about 3.02 million USD worth of ETH to the position today $ONDO In 8 trading days, SMH dropped from 639 to 540, leaving 4 gaps, none of which have been filled.
On October 6, it touched 639.47, the 60-day high.
The next day it opened 11 points lower, and that gap has remained unfilled until today.
Afterwards, it jumped three more times.
Once from 601 to 598, once from 563 to 560, and once by only 0.5 points.
Together, these four jumps add up to 11.6 points.
Out of this 100-point decline, over 10% was skipped by gaps.
Skipping means those price levels never traded.
No turnover, and no one took losses there.
Volume supports this.
From September 28 to October 6, the daily average volume was 5.3M shares; after October 7, it nearly doubled to 10.5M shares daily.
Increased volume plus gaps indicate that some truly want to exit, not that there’s no one to buy.
I think this is more useful than moving averages.
The first resistance overhead is 560.6, which is the lower edge of the gap on October 15.
A rebound there faces not trapped positions but a blank space.
Above that are 588, 598, and 625—each a separate blank gap.
An ETF in a sector showing four-level steps means the selling is not about just one company’s story.
Would you rather wait for it to fill the first gap or wait for it to return to the 60-day low?
$SMH
#FourLevelStepsStrategy's recent round of operations shows that fund allocation explains the situation better than the number of coins purchased.
As of October 18, the company holds 848,517 BTC and has disclosed approximately $5.3 billion in USD assets.
In the same week, it spent about $193.1 million to repurchase STRC, but only about $22.1 million to buy 267 BTC. The repurchase amount is nearly 9 times the expenditure on buying coins.
This means that Strategy is now not only expanding its Bitcoin position but also actively adjusting its financing structure.
STRC is the company's issued perpetual preferred stock. Repurchasing this type of security offers the opportunity to reduce future dividend burdens; however, the cost is a reduction in cash and liquidity impact.
Moreover, the funds for the two transactions come from different sources: the funds for buying BTC mainly come from selling MSTR common stock, while the repurchase of STRC uses the company's cash holdings.
This is a more complex capital management approach: increasing BTC holdings through common stock financing on one hand, and repurchasing preferred stock with cash on the other.
The company also raised the authorized limit for the digital credit securities repurchase program from $2 billion to $3 billion. However, the authorized amount does not equal actual expenditure. The latest disclosure shows that about $1.16 billion remains available after the adjustment.
What needs to be observed next is not just how much more BTC it can buy, but whether cash reserves, dividend payments, and financing capacity can remain coordinated. ETH is being sandwiched: ETFs withdrew $955 million in October, but institutional buying is increasing.
Here's what I see: ETH is currently at $2,394 (intraday on 10/19, Binance), with the 20-day moving average at 2545 and the 50-day moving average at 2551 pressing tightly overhead; spot ETFs have had almost daily net outflows in October, totaling $955 million. On the other hand, Bitmine just bought another 12,535 coins, bringing its holdings to 6.04 million coins (about $14.6 billion), just 1% short of its goal to "acquire 5% of Ethereum's supply"; JPMorgan Chase announced on the same day that JPM Coin deposit tokens are launching on Ethereum.
My view: The withdrawals are short-term money, while the accumulation is long-term money. The price is stuck between support at 2378 and resistance at 2552, fluctuating back and forth, making chasing rallies or bottom-fishing unrewarding.
What I will do: Not chase, wait for direction. If the daily close breaks above 2552, go long targeting 2680; if it falls below 2378, first watch 2318 (the low on 10/15), then down to 2150 (the 200-day moving average).
Which side are you on: ETF outflows signaling a top first, or Bitmine reaching 5% supply first?
$ETH $BTC $SOL
#Ethereum #EarningsSeason