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I treat this wave of $BTC as a false breakdown: the average long position price at 75666 hasn't moved, the previous low was quickly reclaimed after being swept below 75000, and the short-term low at 74800 looks like a squeeze. $ETH follows $BTC, with almost no movement around 2230-2240 over the weekend, the direction is really uncertain; I don't want to chase shorts around here, the downside seems limited, as long as 2000 isn't effectively broken below, the bias remains bullish, and funding rates are returning to normal. $SNDK is the weakest in storage, close to new lows, 800 might not hold, just watch tomorrow's open: either it first dips to 780 then pulls back above 900, or it first hovers around 900 then slowly drifts down. The macro environment isn't easy either: US October non-farm payrolls exceeded expectations, bets on December rate hikes are heating up; after a sharp drop in US stocks, tech stocks rebounded, but the Nasdaq weekly chart is still down about 3.4%; $BTC/$ETH spot ETFs saw a net outflow of over $1.6 billion in a single week. This is my personal view and does not constitute investment advice. $BTC institutional funds are truly withdrawing, but leverage has already been cleared in advance
This is the most concerning divergence currently: ETFs are continuously flowing out, but the market has not continued to collapse. Since 2026, BTC spot ETFs have turned to a net outflow of $502 million, BlackRock's IBIT has been redeemed for five consecutive trading days, with a cumulative outflow of $1.04 billion. However, the price has barely moved because the previous leverage liquidation (11.2 billion USD liquidated in 24 hours, 990 million USD long positions) has cleared a large amount of floating chips, the open interest is decreasing, and the funding rate is so low it can be ignored (BTC only 0.0087%). Both bulls and bears are watching, and neither side has enough ammunition to launch a directional attack. #美国10月CPI前瞻：12月加息预期会否改变？ #美股暴跌后科技股反弹，纳指周线仍跌约3.4% #CircleQ3营收超预期，USDC链上交易量增长49% CPI dropped to 0.7%, looking weak, while gasoline still surged 22.4%, and PPI expanded beyond 5.7%.
Statistics this morning show the national CPI rose 0.7% year-on-year, down 0.2 percentage points from before, with month-on-month unchanged. Food prices fell 2.9% year-on-year, dragged down by fresh pork. In the same data, gasoline rose 22.4%, which alone pulled CPI up by about 0.63 percentage points, and PPI year-on-year expanded to 5.7%. The national nonfarm payrolls just pushed the December rate hike bets, but their CPI will have to wait until the week.
Focusing on the food category issues, gasoline and PPI are biased #美国10月CPI前瞻：12月加息预期会否改变？ With the conclusion of the midterm elections, the situation in the Middle East is unlikely to deteriorate further. Trump is restrained, and the public's hope is also against war and inflation, with rising oil prices being a major culprit behind inflation. Additionally, the rise of new energy in this era has hedged against expectations of oil prices rising too high. In other words, even if oil prices rise again in the future, the probability of breaking through 120 will be very small, so shorting oil prices once they exceed 110 is a good risk-reward opportunity.
Although the ceiling for the rise may be limited, the downside could also be limited. The Middle East situation may be a long-term volatile process, with intermittent conflicts and negotiations being the most likely main theme. Therefore, it is advisable to take profits in batches around 80-90 and wait for the next opportunity.
#美伊外交斡旋持续，霍尔木兹通航分歧待解 $ETH Indeed, this trend is exactly like a mold cast from Bitcoin.
Last night's contraction and oscillation was a typical liquidity trap, a false breakout to lure bulls followed by a big bearish candle smashing through to find the bottom, now it has rebounded to test the resistance in the supply zone above.
Looking at the daily chart, the long-term bearish structure remains intact; the current rebound is merely an extension of the downward consolidation.
The most critical issue is the chip distribution: nearly 77% of stubborn bulls are underwater, with a long-short ratio as high as 3.42.
This extreme collective obsession makes the current risk-reward ratio extremely unfavorable.
In the absence of genuine buying support, the moving average resistance above is like an iron plate, and a second liquidation could happen at any time.
At present, do not blindly catch the falling knife; wait for a clear right-side signal to break the deadlock.ETF withdrew 1.6 billion in a single week! My 100x ETH long position lost four times the principal and is all gone
This week's ETF outflow data is really brutal. $BTC plus $ETH spot ETH ETF had a net outflow of over 1.6 billion USD in a single week, and ETH was directly slammed down 4.23% that day. Previously, various institutions were still shouting about long-term allocation and crypto assets as standard, but when the bearish window came, they fled faster than retail investors, showing no faith at all.
My position just happened to be caught in the crossfire. I opened a 100x full-margin long at 2233, and during the weekend rebound, the floating profit even doubled. I was smug, thinking I had successfully bottomed out, so I didn't dare to exit. But this week, the market opened and was immediately smashed down; at 6 AM the price was pinned at 2146, with a low of 2050, and the floating loss directly hit 390%. Selling pressure kept coming nonstop, with no decent support, and the liquidation price at 1375 is far enough away, so for now, there's no risk of forced liquidation.
To be honest, this is normal. This rally since the beginning of the year was entirely driven by incremental ETF funds. Now that the inflow has turned into a large outflow, it's like the pump stopped and is even draining water out, so naturally, the market can't hold up. Plus, tomorrow night the CPI data will be released, and the market is anxiously watching to see if inflation will rebound. Whether there will be a rate hike in December depends entirely on this data, so it's normal for funds to exit early to avoid risk.
It's too late to say anything now; I've held on this far,A nominal position of $350,000 looks substantial, but I wouldn’t take it as proof of long-term confidence. I don’t play with high leverage, and when I see this kind of monitoring, I’m used to setting aside the impact of the amount first. This record shows a wallet opening a new long $XYZ100 position with 30x leverage, but the outcome is still unknown.
What I care about most are the two words “nominal position”: it represents market exposure, not that the other party has put up the same amount of principal, nor can it be directly used to measure confidence. The amount is eye-catching and easily leads people to assume “big money approval,” but this step is not proven by the data.
In my view, even if it’s the same long position, short-term directional bets and long-term willingness to hold are two different things. If the other party is just speculating on a short-term fluctuation, then this opening position offers very limited help for long-term judgment. This is just my speculation; the monitoring doesn’t state their holding plan. I, for one, hold without moving and care more about whether the reasons for holding change, rather than who just added to the position.
High leverage also means enduring bumps along the way; even if the direction turns out right later, you might not get to wait it out. Don’t take someone else’s short-term speculation as your own holding basis. For friends holding long-term, when you encounter such a large long opening, do you note it down to wait for subsequent closing verification, or do you just skip it and not include it in your long-term judgment?Someone asked again: With the Middle East situation escalating and Saudi Arabia conducting over a hundred airstrikes in 24 hours, should safe-haven funds flow into Bitcoin and gold? This round of the "war-driven safe-haven buying" inertia script is likely to fail.
The chain is not complicated: conflict pushes up oil prices, war premiums reignite inflation expectations, and central banks' room for rate cuts is squeezed. This week, the Bank of England raised rates by 25 basis points, and the market's bet on a Fed rate hike in December has risen to 80%. Therefore, this round of geopolitical conflict is more like a "rate hike catalyst" in pricing terms, rather than a pure safe-haven event. Gold and BTC often come under pressure simultaneously rather than strengthening together.
So, don't treat the flames of war as a bull market talisman. The more geopolitical risk escalates, the more you need to watch the oil price—inflation—interest rate transmission chain, rather than reflexively buying so-called safe-haven assets. Huang admitted to an extramarital affair, and Nvidia perpetual contracts on OKX dropped nearly 4%, but when the Taiwan stock market opened today, Hon Hai, which assembles AI servers for Nvidia, surged nearly 6%🧐
Within half an hour of the open, Hon Hai recovered all the losses from Friday, and the entire Taiwan stock market rose more than 1,200 points.
Everyone outside was shouting that Asia would be hit by Huang on Monday, but Nvidia itself is falling while its Taiwanese supply chain is rising.
Just look at the timing to understand.
The Taiwan stock market closed at 1:30 PM on Friday, that evening the Philadelphia Semiconductor Index rose 4.2%, and TSMC ADR rose 6.3%. Today’s Taiwan stock market is making up for that night.
Huang’s admission of guilt and the board’s investigation were both announced at 4 AM today, and Nvidia’s stock hasn’t traded even once since then.
The perpetual contract on OKX is now around 180, with funding rates turning negative, meaning shorts are paying longs.
The US stock market opens at 10:30 PM tonight. If Nvidia really opens 4% lower, how much of this 1,200-point gain in Taiwan stocks will remain tomorrow...US spot ETFs withdrew about $1.65 billion in a single week, with BTC bleeding $1.28 billion, ETH outflows continuing for the sixth consecutive week, and SOL ending a 14-week net inflow. Market sentiment is retreating, and funds are systematically withdrawing from the spot channel.
$BTC: around $75,836. Short-term price rose above 76,000, but resistance at 76,500 is obvious; multiple tests at 75,400 support have held so far. Support is temporarily effective. ETF channels are still experiencing net outflows, and the rebound lacks new momentum.
$ETH: around $2,229. The trend remains weaker than BTC, with ETFs bleeding for six consecutive weeks. After breaking below 2,230, the next support is seen at 2,150. Unable to reclaim 2,300, the weak pattern remains unchanged.
$SOL: around $89. Spot ETFs saw an outflow of $24.8 million last week, ending a 14-week consecutive rise; however, short liquidations on the derivatives side account for nearly 96%, meaning those betting on a decline have been largely cleared out. Current volatility is more due to liquidity contraction.
In short: ETF channels are retreating, while SOL’s derivatives positions are being cleared. CPI and PPI data will be released this week; before the data provides direction, waiting for confirmation is safer than betting prematurely.
For record-keeping purposes only, not investment advice.
#美股暴跌后科技股反弹，纳指周线仍跌约3.4% Staring at these 4 charts, cold sweat breaks out on my back. $SKHY, $MU, and $SOXL have chip structures distorted to an outrageous degree:
Retail long positions all approach 90%, and the long-short ratio soars to a terrifying 7 to 8.7 times!
Funding rates are extremely negative, indicating that everyone underwater is losing money and holding on desperately.
The core of the current market game is the "known lagging positive" versus the "unknown panic expectations."
Orders for Q4 and next year are just data in the rearview mirror;
While the rumored AI ban is a black swan that could explode at any time. In an environment severely lacking incremental funds, the main players absolutely will not act as live Good Samaritans to push prices up and rescue the 90% of retail investors who are trapped.
On the chart, the 1-hour timeframe is all under strong moving average pressure with volume contraction. Combined with extreme crowding and momentum exhaustion indicators, this fragile balance, once broken, is highly likely to sharply drop due to macro negative factors, forcibly breaking through the sideways platform, triggering a brutal cascade of long liquidations and liquidity clearing.
Entering now has no safety margin, the risk-reward ratio is terrible, better to wait until the panic on the right side is fully released.Good morning everyone, first let me share my personal conclusion: today is still a downward oscillation, suitable for shorting on rallies, don't expect a reversal. Everyone probably felt it over the weekend; last night, Bitcoin was directly slammed down to 73,500, and Ethereum even worse, touching a low of 2,063, both hitting new lows since August. This morning, the current prices are BTC around 74,900, ETH 2,130, SOL just above 87, basically breathing sideways at low levels. Why the drop? I think three things combined: 1) The US midterm election results came out, the pro-crypto side lost, the market worries about stricter regulations ahead, and sentiment instantly cooled; 2) Money is flowing out, spot BTC ETFs had a net outflow of about $410 million on Friday alone, totaling over $1.2 billion for the week, mostly from BlackRock's IBIT; 3) Last week's nonfarm payrolls were too strong, adding 165,000 jobs versus an expected 65,000, crushing hopes for rate cuts. Plus, the US October CPI is due tomorrow night, so no one dares to bet heavily. The fear and greed index is 28, already in the fear zone. Today's outlook: downward oscillation BTC resistance: 76,200 / 77,600 support: 73,500 / 72,000 ETH resistance: 2,250 / 2,330 support: 2,060 / 2,000 SOL resistance: 90 / 94 support: 85 / 82 Futures: mainly short on rallies. Short BTC near 76,000-76,200 on rebounds, take profit at 74,000; short ETH near 2,230-2,250 on pullbacks.73385 and 2053: The Leverage Truth Behind the Pinpoint Lows
$BTC bottomed at $73,385, $ETH bottomed at $2,053. The former almost precisely hit the 200-day moving average (around $73,200), while the latter has clearly broken below the 200-day moving average (around $2,160), indicating a technical structure more fragile than the surface numbers suggest.
The trigger was not a single bearish factor, but a resonance between hawkish macro policies and leverage structures. The Fed's rate cut expectations were delayed, combined with panic from Binance hot wallet theft, causing systemic selling pressure on risk assets. Liquidation data reveals the imbalance: $45.03 million long liquidations vs. only $24.11 million short liquidations within 24 hours; ETH liquidations at $6.9 million surpassed BTC's $6.55 million. In an earlier, larger-scale liquidation round, the long-to-short forced liquidation ratio once approached 8:1, and ETH's forced liquidation density by market cap was about 6 times that of BTC.
Capital flows applied simultaneous pressure. BTC spot ETFs saw a net outflow of $1.282 billion in a single week, BlackRock's IBIT withdrew $403 million in one day; ETH ETFs have been bleeding for over twenty consecutive trading days, with institutional absorption continuously lacking. The lows at 73385 and 2053 essentially represent price levels where highly leveraged longs were concentratedly liquidated amid fragile liquidity, rather than a fundamental repricing.
#美国10月CPI前瞻：12月加息预期会否改变？ 🔍 Holding nearly $200 million in SOL, why still become a banking service provider in Hong Kong? What I want to check is not the holdings, but whether this business has customers.
The Solana Company holds 2.2 million $SOL, valued at nearly $197 million, planning to expand tokenization services in Hong Kong, with the local team possibly growing to 30 people. Don't rush to conclusions; expansion is a plan, not an order.
An interesting detail here: Hong Kong has approved 17 types of tokenized retail products, indicating a business foundation; but the company may still evaluate demand in six months, and whether banks will pay is still unknown. This is my speculation: this is more like a treasury company testing the opportunity for service revenue, not to be directly counted as a holding benefit. Expansion is only supported if continuous service revenue can be secured.
I will watch the demand evaluation in six months. If by then they only announce hiring without disclosing customer service progress, would you lower your expectations? Let's watch together and see whose speculation is closer.The Nasdaq fell 3.4% for the week, and the weekly resistance for BTC cannot be ignored.
Friday's 1.1% rise was indeed a relief, but the Nasdaq has now closed lower for four consecutive weeks.
$BTC is currently around $75,810, down 0.25% in 24 hours; more notably, OI is up 2.0% in 24h, and the funding rate is +0.0072%/8h (CoinGecko perpetual summary). Contract participation is rising, but the funding rate is mildly positive, indicating bulls are present but it’s not yet extremely crowded.
$ETH is around $2,234.31, down 0.63% in 24 hours. OI is down 0.1% in 24h, funding rate +0.0055%/8h (CoinGecko perpetual summary). This data suggests price has pulled back but open interest is nearly flat, more like waiting for direction rather than new leverage entering significantly.
Comparatively, $BTC acts more like a benchmark asset, while $ETH has greater volatility elasticity; when risk appetite shifts, strength and weakness can switch quickly.
If the tech stock rebound only lasts one day, the crypto market may continue to consolidate in a range. Will you wait for the weekly chart to recover or trade the short-term rebound?
#美股暴跌后科技股反弹，纳指周线仍跌约3.4% #美国10月非农超预期，12月加息押注升温 #BTC与ETH现货ETF单周净流出超16亿美元 BTC+ETH spot ETFs saw a combined net outflow exceeding $1.6 billion in a single week, with institutional funds concentrated on redemptions, marking a significant bearish signal for the current market cycle. Core reasons: Stronger-than-expected US inflation data and delayed rate cut expectations have led to risk assets being reduced; ETH fundamentals are weaker, causing redemption pressure to exceed that of BTC. Market impact: Directly weakens spot buying support, likely amplifying contract selling pressure, resulting in short-term weak and volatile market conditions. Key focus: Whether outflows can be quickly stopped going forward; if large outflows persist for multiple weeks, the adjustment period will be extended. $BTC $ETH $SOL #美军扩大对伊朗封锁，霍尔木兹重开仍存分歧 On November 6, the US military launched a new round of limited strikes against Iran, and the next day directly announced the establishment of the "Iron Gate" task force, extending the blockade of Iran from the sea directly to land routes and the Caspian Sea. But ironically, while both sides are taking action, they are also seeking intermediaries for negotiations. Trump said Iran wants to reach an agreement, but he still holds military options; Iran insists that without lifting sanctions, there will be no talks. This is a typical case of "fighting while negotiating." My personal view is: the market veterans are very shrewd now; they won't act without seeing the rabbit. You can tell from the slight drop in crude oil prices that the funds are not waiting for the verbal battles or small-scale conflicts between the two sides, but for "when the Strait of Hormuz can truly reopen for navigation." But don't forget, although the market hasn't surged, once the blockade escalates, war insurance fees for shipping and oil storage costs all go up. This is called "boiling the frog slowly," and the oil price baseline has actually been forcibly pushed higher. As long as the Middle East doesn't completely calm down, this inflation bomb could explode at any time. What impact does this have? In the short term, it is definitely a looming negative factor. As long as oil prices stay high, US inflation won't come down, and the Federal Reserve will never dare to cut interest rates easily. Once macro liquidity is locked down, big funds won't dare to rush into high-risk assets like crypto. So you see why Bitcoin's recent rebound has been so weak? It's because external funds are wary of these geopolitical risks, and the market won't see a big rally in the short term.If the October CPI is higher than expected, the market will further lower rate cut expectations, but this time the key question is whether there will be a rate hike in December. Interest rate futures currently price in nearly an 80% chance of a December rate hike.
What's special about this data
Only month-on-month is released: Last October the government shutdown, so there is no price base, and the official year-on-year figure is not published; the focus is entirely on the month-on-month data.
Market expectations: Overall CPI month-on-month is expected to rise about 0.3%, core CPI month-on-month about 0.2% to 0.3%[6].
Previous value: In September, overall CPI month-on-month rose 0.6%.
What happens if it is higher than expected
Stronger bets on rate hikes: A stronger reading will confirm tightening expectations, making a December rate hike more likely.
Rate cut bets exit: The market is already rarely discussing rate cuts; if higher than expected, it mainly makes a rate hike more certain.
Impact on several asset classes
U.S. stocks: High-valuation tech stocks face the most pressure; the Nasdaq and S&P may test new lows again.
Bitcoin: When the U.S. dollar and U.S. Treasury yields strengthen, funding costs rise, and BTC tends to come under pressure.
Gold: In the short term, it may be pressured by the dollar and U.S. Treasury yields; but if the stock market plunges, safe-haven buying may also support gold prices.
Only if the data is lower than expected will the market have room to breathe. ING believes that unless CPI is significantly below expectations, the expectation of a December rate hike is basically set before the meeting.
#美国10月CPI前瞻：12月加息预期会否改变？
$BTC $XAUT Oragnes believes that deliberately pursuing higher transaction fees to make Ethereum ($ETH) more valuable might drive users away.
Ethereum is a network for trading and running applications, and ETH is the currency of this network. This discussion involves a theory: burning ETH through transaction fees, causing the corresponding coins to exit circulation and reduce supply, which explains why ETH should be more valuable.
However, he points out that when transactions are busy, fees and burn amounts increase; when the market is quiet, both decrease together, so one cannot expect transactions to always be bustling. If higher fees are pursued just to burn more coins, it will increase the cost for users to use the network.
His question is: Ethereum's transactions and applications are very successful, but why does that necessarily mean ETH's price will be higher?$BTC The new week, the trend of Bitcoin really looks like a tangled mess.
The daily chart shows a volume-increased break below the consolidation rectangle, while the deep V-shaped wick on the 1-hour chart looks exactly like a deliberately created bear trap.
As the saying goes, "Sideways like a dead dog, a drop like a mad dog," currently over 72% of the crowded long positions are accumulated in the market, and with the exhaustion of new inflows, it is very easy to trigger a long-liquidation cascade.
This short-term recovery is essentially a weak rebound after the breakdown, and it could easily follow the path of least resistance to retest the bottom again at any time.
In this low-odds blind zone with unclear direction, there is no safety margin; blindly guessing the bottom is just giving away money. Don't guess the direction; wait until the right-side structure is fully established before making a move.- At this position, the most eye-catching thing is not the price itself, but that 65.88% of the liquidations in the past 24 hours come from long positions. The longs have just been flushed out once; does this count as short-term sentiment starting to loosen? I've been watching this set of numbers for a while. The total liquidations across the network are about 5.196 billion, with longs at 3.423 billion, and shorts clearly much less, indicating this drop looks more like deleveraging rather than pure panic selling. The daily KDJ is stuck at a low level, suggesting some oversold recovery, the lower Bollinger Band is at 74294, and the recent short-term support is at the previous low of 74800. On the upside, first look at around 76500, then 77300. What really concerns me is the liquidation distribution. The liquidation scale above is about 48.329 billion, below about 22.537 billion, with the center of gravity skewed upwards. The densest short liquidation zone in the short term is near 76582. This means that as long as there is a spike upwards, it can easily trigger a round of short covering, and the pace will become very fast. But there are also many long liquidations buried between 68000 and 75700; once 75000 is broken, the chain reaction below will not be gentle. So the current sector strength and weakness is very interesting. BTC itself is in a recovery window; the longs being cleared actually lightens the load a bit; but the daily trend is still weak, so this rebound looks more like probing the upper liquidation zone rather than a trend reversal to bullish. Whether ETH and altcoins follow depends on whether this upward push can bring volume; if only BTC pulls up alone, risk appetite actually hasn't spread, it's just a local rebound Every time I see "billions of stablecoins newly minted," my first reaction is — money is coming. After calming down for three seconds, I realize they just printed the money and put it on the table; they didn't say who will buy it or when.
Today at 09:10, Circle minted 250 million $USDC on Solana, about 250 million USD. Some are already spreading rumors of "massive capital inflow," but I checked my position and didn't add a cent.
Minting is printing money, not buying up assets. Minting $USDC on Solana is somewhat interesting since this chain is naturally fast for transfers; money placed here is usually for short-term trading.
So don't rush; wait until the $SOL chain really heats up before making moves.At 09:10 this morning, Circle minted 250 million $USDC on the Solana network, worth approximately 250 million USD. The number isn't earth-shattering, but this kind of news is often misread—many people automatically interpret "minting" as "money is entering the market."
Let's break down the action first. Minting means the issuer is releasing new $USDC onto the chain; essentially, it's balance sheet expansion, not a buy-in. For these 250 million coins to truly become buying pressure, another step is needed: someone has to exchange them for other coins. This could take several hours or even days.
Next, consider the landing spot. This batch wasn't minted on Ethereum but on Solana. Placing the same amount on a fast chain means it's inherently intended for high-frequency, low-fee scenarios. So it's more like "standby ammunition" rather than a long-term holding.
In terms of judgment, I don't focus on a single transaction. Stablecoin supply expansion usually leads trading activity by about half a step; it's a leading indicator, not a synchronous one. What really matters is whether there are supporting actions in the next few days: increased deposits to exchange addresses, a rise in $SOL on-chain transfer counts, and whether $USDT's share on Solana is being squeezed. Only if all three move can we say the money has truly arrived.
One thought-provoking question remains: why is incremental stablecoin increasingly favoring Solana instead of the mainnet? Is it fees, speed, or a genuine shortage of USD on this chain? Different answers lead to completely different market trajectories.SanDisk (SNDK) Stock Split Day: The “Cheap” Price of $835 Doesn’t Resolve the Cyclical Disagreement
Today (November 9), SanDisk’s 1-for-8 stock split takes effect, with 7 additional shares allocated for every 1 share held. The split doesn’t change the fundamentals but exposes the disagreement to more retail investors: TTM EPS is about $125, static PE is only 6.67 times, yet the stock price has fallen from a high of $2,354 to around $835. Last Friday it closed up 3.55%, and after-hours briefly broke above $850.
Management says the split is to lower the holding threshold; the market sees another side: a company with a forward PE of about 3.67 times needs a stock split to attract buyers. Supply and demand tightness and long-term contracts locked until after 2030 are facts, but the return curve after an 85% gross margin won’t be undone by the stock split.
After the split, the focus is not on whether it’s “cheap or not,” but on whether incremental buying can offset the cyclical pricing pressure when trading resumes after the split adjustment on November 20. The $835 price is just a visual low, not the valuation answer.Twenty-five point seven tons of physical gold bars pressed into the back kitchen freezer — this is not just stocking up, this is replacing the entire pot base of the broth with gold bricks. The physical gold reserves backing the Tether-issued gold token XAUT surged to about 25.7 tons by the end of Q3, up 59 percentage points from the end of 2025, valued at approximately $3.44 billion; this broth isn’t flavored with essence, the kitchen really stacked gold bars into the cold storage one by one.
I’m watching this pot of golden broth, focusing on three things first: the broth base, the heat, and the serving speed. The World Gold Council’s data is laid out on the chopping board — central banks worldwide net bought 321 tons in Q3, up 42 percentage points year-on-year; gold funds added another 211 tons. Central banks are like exclusive big clients, gold funds are like chefs continuously adding broth; on November 4th, spot gold reclaimed $4,000, and bubbles rose again at the pot’s edge. Tokenized gold is like slicing a whole gold bar into thin pieces, packed by grams, allowing retail investors to pick up a chopstick. But no matter how pretty the slices, if the kitchen’s ledger, cold chain inspection, or redemption channels are missing a link, the broth surface, no matter how shiny, is just floating oil.
In the investment portfolio banquet, mainstream coins are the main dishes, altcoins are the seasonings, and leveraged contracts are the extra spicy chili peppers. Gold tokens are more like broth jelly, adding a bit to enhance flavor, not to be served as a main course to gulp down. Now with XAUT increasing reserves, it’s like thickening the broth base; but thickening doesn’t mean every bowl should be loaded with chili peppers. If the main dish isn’t cooked, seasonings overpower, and chili peppers burn the pot, the stomach suffers first. The US stock token XIWM is like a combo meal; as the gold price broth keeps simmering, this cold cut plate will also catch some warmth; but the linkage reflects liquidity and risk appetite, side dishes getting some heat doesn’t mean they become the main course. Whether tokenized gold can keep attracting customers depends on whether the gold bars are verified genuine enough, redemption and serving are fast enough, and the ledger and kitchen are transparent enough.
What the kitchen fears most isn’t no customers, but serving extra spicy chili peppers as the main dish when orders surge — no matter how thick the golden broth is, it can’t save a burnt stomach. #xautgoldreservesup59%U.S. stocks finally rebounded on Friday, with the Nasdaq rising 1.09%, the S&P 500 up 0.31%, Nvidia up about 2.8%, and AMD surging 11%. But don’t rush to think the risk is over; the Nasdaq fell 3.4% cumulatively last week, and the S&P 500 dropped 2.7%. Tech stocks are just recovering from a sharp decline, and concerns about AI valuations and U.S. interest rates have not disappeared. ① The outflow of funds from BTC ETFs is more worrisome than the U.S. stock market pullback. Last week, U.S. BTC spot ETFs saw a cumulative net outflow of about $1.282 billion, with $412 million flowing out on Friday alone, including about $403 million from BlackRock’s IBIT. ETH spot ETFs also saw an outflow of about $365 million last week. It’s important to note that ETF redemptions don’t mean the entire crypto market is selling off, but continuous outflows indicate that institutional demand for these funds remains weak. ② Strong U.S. employment suppresses expectations for rate cuts. Last Friday, October’s nonfarm payrolls increased by 165,000, and the unemployment rate dropped to 4.1%. The economy isn’t so easy to slip into recession, which is generally good news for risk assets. But if the Federal Reserve believes employment remains strong and inflationary pressures are unresolved, the market will have to reassess how long high interest rates will persist. If the dollar and U.S. Treasury yields continue to strengthen, BTC and ETH may come under pressure; if investors focus more on economic resilience, different trends may emerge. ③ Tomorrow night’s CPI is the first major test of the week. At 21:30 Beijing time on November 10, the U.S. will release the October Consumer Price Index. Inflation remains high For this monitoring, I want to talk about the difference between "position size" and "principal." Core Trader 14 opened or added a long ETH position with 15x leverage, a position size of 25 ETH, and a notional value of about $53,300. I'm more concerned about how much risk these 25 ETH represent rather than how much margin looks saved.
📌 Roughly calculated by dividing the notional value by leverage, the initial margin is about $3,556, excluding fees. If ETH moves 1% against the reference price, the unrealized loss on this position is about $533, which is 15% of the margin mentioned above. The reason is simple: profit and loss are calculated based on the full position size, not just the margin.
A common misconception among newcomers is to equate "less capital used" with "less risk." My judgment is that leverage only changes capital usage; it does not reduce the price risk of the same position size. This monitoring does not provide account equity or margin mode, so I won't judge whether the risk is controllable; before looking at the order, I first clarify how to calculate the loss.If Bluebird satellites cannot lock the load-bearing walls section by section in orbit, the Q3 earnings call will just be a temporary floodlight shining on an unfinished building. AST SpaceMobile is scheduled to report after the U.S. market close on November 9. What really matters is not the renderings, but the hoisting rhythm of the Bluebird constellation, whether the electromechanical system of the direct-connect devices can seamlessly integrate with the municipal infrastructure of ground mobile network partners, and whether commercial revenue has begun to replace cash burn as the new base load.
From a structural design perspective, the most common mistake in satellite communication projects is treating the white paper as the as-built drawing. Each batch of Bluebird entering orbit is equivalent to adding a cantilever segment to a high-altitude truss; the load-bearing walls are not spectrum, but capital expenditure and on-orbit reliability. Partner agreements are like construction permits—signing them does not mean network integration; direct-connect device services are like electromechanical endpoints—no matter how many points there are, if the return link and billing interface are not connected, the acceptance form remains blank. The foundation treatment phase fears invisible settlement: if constellation deployment is ahead of schedule but ground gateways, spectrum coordination, and terminal compatibility lag behind, commercial revenue will have gaps before the floor slab is poured. In Q3, three construction joints must be monitored: first, whether the mobile network partner’s commercial rollout has moved from intention to billable traffic; second, whether commercial revenue can cover the long-term load of operations, maintenance, and constellation expansion; third, whether the cash burn rate is like concrete hydration heat—busy on the surface but potentially cracking inside. The operator’s user scale is the live load on the floor, not paper intentions; each new partner requires synchronized acceptance of core network upgrades, billing and clearing, and coverage blind spot fixes. The tokenized asset $xMSTR linkage is more like curtain wall glass, amplifying internal stresses of the building for the secondary market to see; the brighter the story of orbital assets, the more the cash flow foundation cannot be obscured by reflections.
What truly determines whether this space-based communication skyscraper can continue to rise is not the skyline at the press conference, but the delivery quality of each Bluebird, the depth of engagement of each operator interface, and the reusable structure formed by every dollar of capital expenditure. If Bluebird cannot turn partner interfaces into cash flow in Q3, no matter how beautiful the orbital schematic is, it will only be a facade rendering without structural calculations. #astsq3commercialoutlookThe Democratic Party's comprehensive victory in the midterm elections may amplify the risk of a U.S. economic recession over the next two years. With the Democrats sweeping both chambers and winning the Texas governorship, the full blue shift has threefold implications for the U.S. in the short, medium, and long term. In the short term, the difficulty for the president and Congress to reach consensus significantly reduces certainty in U.S. domestic and foreign policy. In the medium term, winning Texas greatly increases the likelihood that the Democrats will return to the White House in 2028 while sweeping both chambers, which in turn amplifies the negative impact of Republican governance on the U.S. This not only increases the chances of victory in 2028 but also means the Democrats will face a lower economic and capital market base at that time. Therefore, it is highly probable that the Democrats will suppress the U.S. economy and stock market trends in 2027-2028 through various means, while Trump can shift blame to Congress. The probability of a U.S. economic recession and a deep adjustment in the stock market over the next two years is further elevated by this blue wave. In the long term, U.S. politics is fundamentally a result of social structure. The past 100 years of experience show that businessman presidents often signal domestic instability, with no exceptions from Hoover to Carter to Trump. Reagan's 1980 victory over Carter began over 40 years of U.S. pursuit of efficiency, but K-shaped polarization intensified social conflicts and domestic instability. If the Democrats achieve a comprehensive victory in 2028, it may indicate that the U.S. is entering a "Franklin D. Roosevelt 2.0" era.STRK fell below $0.04, with a market cap of only 296 million, a daily volume of 1.19 million, and a nearly 3% drop in a single day. This set of data outlines a typical "unlock pressure + liquidity drought" scenario. Smart money is still net short, with zero holdings and zero longs, not even a reference price — institutional funds are signaling most directly: they don't want to touch it at this stage. Social sentiment is completely absent across all dimensions, with zero mentions and zero bias; the market has even lost interest in discussing it. Starknet's ZK-Rollup technical route, native support for account abstraction, and recent progress in decentralized governance are all fundamental positives, but the price doesn't lie: when the unlocking release speed exceeds the ecosystem's absorption speed, and the narrative heat recedes exposing the fundamentals naked, no matter how strong the technology is, it can't withstand the selling pressure. Core judgment: STRK is caught in a double squeeze of fundamental realization and token unlocking suppression. Until the downtrend is broken, any rebound is a good opportunity to reduce positions. Wait until the unlocking peak passes and ecosystem data turns substantially positive before considering left-side positioning. #BTC与ETH现货ETF单周净流出超16亿美元 Last week, BTC+ETH spot ETFs saw a net outflow of $1.647 billion (BTC $1.282 billion / ETH $365 million).
Brief commentary on the crypto space:
Institutional withdrawal: Leading products like IBIT were redeemed, funds sold coins for settlement, and spot selling pressure directly hit the market.
Rebound lacks backbone: ETF buying stopped, relying on retail and contracts to catch the fall is unreliable, so rebounds are likely false.
Leverage cascade: Coupled with weakness in US tech stocks, the entire market saw liquidations exceeding $1 billion, amplifying volatility.
Sentiment turns defensive: Stablecoin market cap shrinks simultaneously, on-chain USD liquidity tightens, ETH is weaker.
Short-term bearish bias: BTC expected to find support at 73,000–75,000; ETH to defend at 2,100; no trend reversal recognized until continuous ETF inflows are seen.
In a nutshell: Money is withdrawing, leverage is bursting, sentiment is cooling—prioritize risk management, don’t mistake rebounds for bottoms. #After the US stock market crash, tech stocks rebound, but the Nasdaq weekly chart still falls about 3.4%
The boss has something to say
At the start of the new week, I recalculated last Friday's numbers: The Nasdaq fell about 3.4% for the whole week, the Philadelphia Semiconductor Index dropped over 12% in a single day, the worst since March 2020; on November 6, Nvidia and AMD rebounded, the Nasdaq recovered but the Dow still closed down, showing clear divergence. The community's judgment is straightforward: a single-day rebound is a technical bounce, the continued weekly decline indicates a weakening trend, this is a window to reduce positions, not a turning point.
My interpretation is: after the weekend, the most intense panic selling has passed, but whether the rebound can hold for a week depends on tonight's US stock market. The key is not how much it rises today, but whether the rebound can hold, whether ETF net inflows can turn positive, and whether the 79% rate hike expectation brought by the non-farm payrolls can be digested. Before these three signals appear, all rebounds should be treated as technical bounces. For the crypto space, BTC's correlation with the Nasdaq has been very high these days; if the Nasdaq does not stabilize, BTC cannot be said to have reversed.
BTC returned above 75000 this morning, with a slight intraday rise. My approach: 75000 has changed from resistance back to an observation level; if it holds above, do not chase; if it breaks below 74500, look down to 73000; tonight's US market open will be the direction choice, I continue to stay out and watch.
The above analysis is time-sensitive, please stay safe. $BTC $ETH $ZEC Last week, the US stock market and the crypto market experienced a synchronized pullback again. On November 5th, the Nasdaq fell 5.52% in a single day, marking the largest single-day drop in nearly 19 months. The adjustment in the US stock market quickly transmitted to the crypto market, with Bitcoin dropping about 6% that day and Ethereum falling over 7%. $BTC $ETH Similar scenarios are not unfamiliar; whenever the US stock market experiences a significant adjustment, cryptocurrencies often find it difficult to remain unaffected. But does this mean that as long as the US stock market continues to decline, the crypto market will inevitably follow with a pullback? From historical data, the two have indeed become more likely to rise and fall together, but this relationship is not immutable. Data shows that from 2017 to 2019, the correlation coefficient between Bitcoin and the S&P 500 was only 0.01, and with the Nasdaq, it was just 0.02, indicating basically no obvious linkage. However, from 2020 to 2021, the situation changed. With institutional funds entering the crypto market and a significant increase in global liquidity, the correlation coefficients between Bitcoin and the S&P 500 and Nasdaq rose to 0.36 and 0.38 respectively. After the Federal Reserve began aggressive rate hikes in 2022, this linkage further strengthened. CME data shows that from November 2021 to December 2022, the correlation coefficient between Bitcoin and the S&P 500 once reached 0.69. The reason behind this is not complicated. In the past, Bitcoin was more regarded as an alternative asset independent of the traditional financial system, but with the launch of Bitcoin ETFs and increased institutional participation, the crypto market and traditional financial markets have become more intertwined.At 3 a.m., the weather radar at 34 degrees north latitude captured an abnormal echo—it is not part of any monsoon model, yet it is rewriting the entire near-Earth orbit pressure distribution.
First, let's look at the basic meteorological data. Rocket Lab will release its Q3 observation report after the market closes on November 9th Eastern Time. Previously, the revenue guidance range was $250 million to $265 million. This figure itself does not trigger a storm alert; the temperature field is stable and aligns with seasonal expectations. The real highlight lies in the cross-validation of data from three observation stations: Electron launch activity, Neutron development progress, and space system order deliveries.
Electron is like light rain. Stable, predictable, and with limited impact on the ground, but it is the underlying guarantee of water volume in the basin. The launch frequency is the rainfall amount; as long as it does not stop, the soil moisture in the entire commercial space basin will not collapse.
Neutron is the tropical cyclone currently forming. Its number is not yet determined, its path is not locked, and no model has converged on its intensity ceiling so far. The ground station can only do one thing: closely monitor every drop in its central pressure. Any structural evolution error will cause the storm to dissipate before landfall; but once the eyewall replacement is complete, it is an ocean-crossing level energy release. Such systems are not judged by single-point data but by accumulated latent heat—that is, the continuity of R&D investment.
Space system order deliveries are the precipitation accumulators. Unlike launches, which have spectacular visible cloud maps, they determine whether the basin's runoff volume is sufficient.
Next, look at the neighboring French meteorological station $xASTS. The meteorological fields of the two satellites have a coupling effect: when one side's atmosphere experiences intense vertical movement, even if the other's cloud layer is calm, the near-surface pressure will be pulled. Coupling does not mean synchronization; it is more like two observation stations hundreds of kilometers apart simultaneously recording the passage of the same front, but the precipitation areas may not overlap.
The core contradiction in this observation is: the guided revenue is a static temperature field, while Neutron is a dynamic pressure trough. The market should read not the current temperature but the transport efficiency of the warm and humid airflow ahead of the trough.
Now lock the observation window to after the market close on November 9th, waiting for that set of high-altitude detection data to be transmitted back. #rocketlabq3neutronOver $1 billion outflow in two days, but the weekend price did not collapse accordingly
On November 5 and 6, BTC and ETH ETFs combined net outflow exceeded $1 billion, yet prices did not experience a corresponding sharp decline.
Looking at $BTC: current price around $75,810, daily -0.25%. OI 24h +2.0%, fee rate +0.0072%/8h (CoinGecko perpetual summary), contract participation is rising, but the fee rate is mildly positive, indicating bulls are present, but it’s not extremely crowded yet.
Using $SOL as a reference, price about $89.14, 24h -1.11%; OI 24h -4.8%, fee rate +0.0062%/8h (CoinGecko perpetual summary). Price and open interest both declined, risk appetite is contracting, spot market follow-through still needs observation.
What really matters to compare is not who gained more, but whose price changes are supported by more solid volume and positions.
This may be due to other spot buying, hedging, or the combined effect of different market sessions, and cannot be simply attributed to one side. Where do you think the support comes from?
#BTC与ETH现货ETF单周净流出超16亿美元 #美国10月非农超预期，12月加息押注升温 #美股暴跌后科技股反弹，纳指周线仍跌约3.4% $5.6 million in assets urgently transferred! Web3Auth is racing against attackers to recover a batch of Keplr wallet funds ahead of them.
The incident originated from a vulnerability in the Web3Auth service, where private keys of some Keplr wallets created via Google or Apple login were leaked.
Web3Auth subsequently announced 12 recovery addresses. On-chain data shows these addresses currently hold about $5.6 million in crypto assets, including approximately 2.49 million ATOM, valued at about $3.3 million.
However, this rescue does not mean all funds were saved.
Web3Auth mentioned the "original attacker" in its announcement, implying that some wallets were attacked before funds were transferred to secure addresses. The exact amount stolen has not been disclosed.
Keplr co-founder Josh Lee estimates that about 20% of Google and Apple login accounts were affected, but only a small portion was actually exploited by attackers.
The most alarming aspect of this incident is that users may have never interacted with mnemonic phrases or actively exposed private keys, yet lost control of their wallets due to vulnerabilities in third-party login infrastructure.
The security of Web3 wallets depends not only on on-chain protocols and users' own actions but also on the key management services behind them, which can become the weakest link in the entire system.The Democratic Party has taken control of both chambers, and the next target is to cut Trump's tariffs, with Canada being the first on the list.
According to a CNBC report this weekend, a large number of Canadian goods are currently subject to a 50% tariff, based on an old law from the Great Depression era. On October 20, someone already filed a lawsuit against it. Senator Wyden, who will take over the Senate Finance Committee next year, said bluntly that the tariffs on Canada should be abolished first, and that Congress should have the final say on tariffs in the future to prevent the next president from doing the same. Jeffries, who may be elected Speaker of the House, also places reclaiming tariff authority among his top priorities.
Tariffs have already lost once in court. In February this year, the Supreme Court ruled the "Liberation Day" tariffs illegal, ordering the government to refund $166 billion. Another lawsuit challenges the government’s attempt to rebuild the tariffs under a different law. On October 28, Democratic Judiciary Committee leader Raskin requested records of tariff exemptions, accusing Trump of making "sweetheart deals" by granting exemptions to favored industries.
However, the Democrats do not have enough votes. The Senate lacks 60 votes, Trump has veto power, and overriding a veto requires a two-thirds majority in both chambers, meaning a large number of Republicans would have to be brought over.
Don’t expect tariffs to ease at the start of next year; most congressional bills will likely die in vetoes. The court will provide a quicker resolution. The lawsuit over Canada’s 50% tariff will be more effective than half a year of congressional bickering. The investigation can indeed reveal the exemption list, and those industries that received benefits on that list will be the first to have their prices reset. $QQQ $BTC $ETH #美国10月非农超预期，12月加息押注升温 Monday morning started with a sucker punch. At 6:21 AM Beijing time, in the previous hour, the entire network liquidated $745 million, 96% of which were long positions, with ETH liquidations hitting $343 million in one day. Bitcoin touched 73,500 on OKX, breaking the weekend’s range; ENA and AAVE followed down, while PEPE reversed to green.
$ENA around 0.148, longs were liquidated within an hour 📉
Down 6% in 24 hours. At 6:06 AM, it dropped 4.61% to 0.1468 in the previous hour. Binance, Bybit, and OKX liquidated $2.09 million in longs, while shorts were only $10,000.
$AAVE near 125, acquisition news swallowed by the market
Down 3.85% in 24 hours. On November 6, Aave Labs acquired Avon’s team and technology, aiming for on-chain fixed-rate lending, but the product is not yet available.
$PEPE around 0.00000495, bucking the trend to green 🐸
Up 2.5% in 24 hours, trending on CoinGecko. On October 27, Arkham reported that wallets related to Justin Sun hold about $51.25 million in PEPE, accounting for 2.82% of supply.
Among the three, PEPE looks strongest, but this small green is propped up by Sun’s wallets; a single transfer to exchanges would create immediate selling pressure. ENA’s long and short liquidations differ by 200 times, longs are not yet cleaned out, and the 0.14 area will be hit again. AAVE needs to wait for fixed-rate lending to launch; just acquiring the team can’t support 125. #BTC与ETH现货ETF单周净流出超16亿美元 Dropped below 74000, 2100
Just now, this wave of BTC and ETH sell-off
I analyzed it and found several reasons
1️⃣: Capital aspect
ETF net inflows continue to decline, buying power is weak, the entire crypto capital is retreating, risk appetite is declining.
2️⃣: News aspect
✦ Nvidia's board has launched an infidelity investigation on Jensen Huang, shaking expectations in the AI sector, leading to valuation cuts in global high-risk sectors, dragging down BTC and ETH sales.
✦ The old geopolitical issue, a cruise ship in the Strait of Hormuz was bombed, tensions in the US-Iran war, capital risk appetite shifts.
3️⃣: Technical aspect
Price broke key support levels: Bitcoin at 74000 and Ethereum at 2100, triggering massive stop-losses on long positions. High leverage was cleared, causing a chain of liquidations and a stampede-like sell-off.
The news is just an excuse for the sell-off; the key point is capital demand. Currently, off-exchange capital demand for cryptocurrencies is very low, so be cautious about bottom-fishing. 时间线： 10月29日：《纽约时报》披露，黄仁勋与英伟达客户 Megaspeed 关联人士 Alice Huang（黄乐）关系密切，并涉及疑似情报活动的指控。 11月上旬：三名美国众议院共和党委员会主席要求他于 11月18日参加闭门简报，涉及国家安全疑虑。注意，这是提出要求，不是已经出席。 11月8日（北京时间11月9日凌晨）：他在员工信中承认对妻子不忠，向家人道歉。 ．Megaspeed 做什么？ 它是一家在新加坡注册的公司，前身叫 7Road International，与中国游戏公司「第七大道」有历史渊源，后来转向 AI 云计算和数据中心业务，在东南亚部署英伟达设备。 ．黄乐：曾在 2023年3月至11月担任 Megaspeed 董事及董事总经理，后来离职。 1️⃣ “间谍指控”在逻辑上极其荒谬？ 美媒称情报备忘录怀疑 Megaspeed 前高管黄乐受招募，试图“影响老黄的芯片出口立场”。 但事实任何人都知道中国与亚洲市场贡献 $NVDA 巨额高毛利营收，老黄呼吁放宽出口管制，是为了保住 5万亿美金市值的增长引擎、防止中国本土芯片生态替代。一个科技帝国 CEO 捍卫核心市场的商业The bulls really wasted their weekend! On Friday, I already said don’t rush to call a turnaround on Bitcoin $BTC and Ethereum $ETH with that small rebound; they still have to drop afterward! After two days of sideways movement, Bitcoin directly fell to 73,000, and Ethereum also dropped to hit my take-profit; the short positions that were liquidated earlier have all been recovered! I originally thought the non-farm payrolls would trigger a rebound before dropping again, but unexpectedly, there wasn’t even a rebound! However, I still believe there is a threat of a rebound wave! Last Friday, non-farm payrolls increased by 165,000, the Nasdaq rose 1.1%, but the crypto market didn’t follow; the buying power is really weak! AI valuations and regulatory concerns haven’t dissipated yet, plus there’s CPI tomorrow night! Personally, I think the overall trend is still bearish, but after such a drop, we still need to be cautious of a sudden short squeeze! The US stock market opening might bring a rebound; Bitcoin is expected to test 75,200 to 76,000, Ethereum looks at 2,177 to 2,230. No rush to enter now; wait for a rebound to the resistance zone, then confirm weakness before looking for shorts! The heavy blow of the non-farm payrolls has landed. After the spike, is the rebound an opportunity or a trap?
The one-hour chart is clear at a glance. Last night, the non-farm data exceeded expectations and strengthened, directly breaking the market balance.
$BTC quickly dipped to 73385, $ETH dropped to 2051.90, a sharp plunge to clear longs, followed by a corrective rebound.
BTC current price 75280, ETH current price 2143
The US dollar and US Treasury yields strengthened, the market repriced the December rate hike expectations, rate cut expectations cooled significantly, and high-risk assets came under pressure. Coupled with continuous ETF outflows, market liquidity tightened, and the overall environment is bearish.
Looking at the 1-hour moving average structure, MA5 and MA10 have both turned downward. The rebound is just a breather after the decline; selling pressure has not been fully released.
Don’t rush to bottom-fish because of this rebound. This is a weak counter-trend rally and can easily be suppressed by bears again.
For bulls to turn the situation around, they need to wait for US Treasury yields to fall and for signs of capital inflow.
In the short term, pay close attention to the support at the lower spike low. Once the support breaks, the downside space will open again.
The market changes rapidly. Control your hands and patiently wait for confirmation signals.
Do you think this rebound can continue? #美国10月非农超预期，12月加息押注升温 Why do you think SanDisk at 800 is a bargain chip?
At this time last year, SanDisk was just over 200, then it rose all the way to 2300, and now it has fallen back to 800.
If I didn't tell you about the market movement in between and only told you it rose from 200 to 800 in a year, would you still be so confident to bottom-fish?
Compared to a year ago, it is still exactly 4 times the price now.
I just don't get it, does reaching 2300 mean it must be worth 2300?
Are you mistaking the previous high as the stock's original price?🤣
#美股暴跌後科技股反彈，納指週線仍跌約3.4% Bitcoin ETFs saw a net outflow of $1.28 billion last week, turning this year's cumulative funds from positive to negative.
ETFs are funds that trade Bitcoin on the US stock market, and their fund flows are often regarded as Wall Street's sentiment. Last week, out of five trading days, four saw net outflows, with a cumulative net outflow of $914 million this year, marking the worst week since the end of June.
Moreover, the outflows were almost entirely concentrated in one fund: BlackRock's IBIT was redeemed for six consecutive days, totaling $1.44 billion, while Fidelity's FBTC actually saw an inflow of $42.8 million on Friday.
So rather than a collective institutional retreat, it’s more like the largest pool is draining. ETF data only shows subscriptions and redemptions, so it’s unclear who is selling. But Bitcoin had already dropped to around $73,708 on Sunday night, hitting a new low since August. Whether redemptions stop after the US stock market opens on Monday will be the clearest signal.
Are you betting that redemptions will stop on Monday, or continue to flow out?
#BTC与ETH现货ETF单周净流出超16亿美元 RENDER's rebound needs spot trading to take over; it can't rely solely on AI news
A single tech news can ignite sentiment, but for the market to sustain, real transactions are necessary.
$RENDER is currently around $1.54, down 1.25% in 24 hours; more notably, the 24-hour trading volume is about $15.53 million; Binance perpetual OI is about $8.2 million, down 2.7% in 24 hours, with a fee rate of +0.005%. Contract positions are shrinking first; if spot trading can't follow, relying only on thematic hype will hardly support a sustained rebound.
$SOL is around $89.14, down 1.11% in 24 hours. OI down 4.8% in 24 hours, fee rate +0.0062%/8h (CoinGecko perpetual summary). This data seems to remind us: price and positions are falling together, risk appetite is contracting, and spot follow-up still needs observation.
On the same chart, $RENDER is relatively more stable, while $SOL's volatility is more sensitive; this is also why positions can't be cut uniformly.
Both are shrinking positions, indicating that risk has not fully returned. Will you wait for spot volume to pick up, or bet early on the theme?
#美股暴跌后科技股反弹，纳指周线仍跌约3.4% #美国10月非农超预期，12月加息押注升温 #BTC与ETH现货ETF单周净流出超16亿美元 Last night, the US military bombed Iran's Qeshm Island, and three oil tankers caught fire in the Strait of Hormuz.
Then this morning, BTC flash crashed 15 minutes before the weekly close, plunging directly to 73510.
There was 745 million liquidated in one hour, with 715 million all from longs.
Remember November 5th? That day the shorts got taken out, including me.
In four days, both sides got wiped out once.
ETH suffered even worse than BTC, dropping 7.3% in 15 minutes, plunging to 2060, and the ETH to BTC exchange rate hit a new low since September.
Gold is falling, oil is falling, crypto is falling, only the US dollar is rising. This isn't a correction, it's a run.
Now back to myself.
ZEC, I shorted at 239, the position that was mocked by the whole network for half a year, now at 1218.
Not yet breakeven, but every point it drops today is paying back what it owed me before.
And ironically, last week Sesame's SOXL position blew up over 10,000 U, but it was the semiconductor bottom-fishing that made the profit.
US stock futures are still up today, but I actually lost on that side and made money on this side.
I’ve completely figured it out: living through your own market is worth much more than correctly predicting the market.
Now the question is, is this spike the end or the beginning? How many longs are still waiting to be buried below 73000?
Tell me in the comments, should I keep holding this ZEC short waiting for 1100, or exit on the rebound?
I might actually listen this time.
$BTC $ETH $ZEC Crypto markets spent the weekend in a deceptive lull, with $BTC hovering near 75,913 and $ETH pinned around 2,238. But the calm on the price chart tells a very different story from the derivatives ledger, where long/short ratios have climbed into territory that usually precedes violent liquidation cascades rather than quiet consolidation. That divergence is the real signal. Bitcoin's four-hour long/short ratio sits at 3.0, meaning retail traders are still overwhelmingly positioned for upside eve$BTC slid to 75,200, $ETH is even worse, once approaching 2050 during the session, dropping nearly 4% in 24 hours, and SOL also fell from the 90 mark to just above 87. Remember over the weekend when many in the backend were shouting "extreme fear" and calling the bottom? I've always said that rebound was rented, not me turning bullish.
Now it's Monday and the market hasn't officially opened yet, the Asian session has already given back the rebound profits. The logic is simple: without real money buying to support, a rebound driven solely by sentiment can't last a trading day. The real judge this week is Tuesday's CPI; before it lands, don't mistake sideways trading for a bottom, and don't mistake a rebound for a reversal. If you're itching to buy the dip, first ask yourself: are you betting on the structure or just on luck? #After the US stock market crash, tech stocks rebound, but the Nasdaq weekly chart still falls about 3.4% Brothers, this is Xiao Ma Ge. The day before yesterday, the US stock market just went through an epic bloodbath, and today Nvidia, AMD, and these tech stocks led the counterattack, with the Nasdaq also clawing back some losses. But don’t think the drop is over; this is most likely just a "dead cat bounce." Let me break down this reversal drama for you. On November 5th, the US stock market was smashed so badly it was unrecognizable, with AI and semiconductors being the hardest hit. The Philadelphia Semiconductor Index plunged over 12% in a single day. The next day, Nvidia and AMD bounced back, and the Nasdaq followed suit. But if you look at the weekly chart, the Nasdaq still fell 3.4% overall this week. Sector divergence is extremely severe; tokenized Nasdaq ETFs and semiconductor ETFs are still slightly down. My personal view is straightforward: this single-day rebound is purely a technical retracement, not a trend reversal. Data center delays, combined with tech giants’ executives cashing out frantically, have put the risk of "AI capital expenditure realization" right on the table. Wall Street is starting to doubt: these giants have spent hundreds of billions building computing power centers, but when will they break even? Executives are running away themselves, yet retail investors are left holding the bag? So, the continued weekly decline indicates the trend has weakened. The current rebound is actually a window for heavy holders to reduce positions and escape, definitely not a turning point for us to rush in and bottom fish. What’s the impact? In the short term, it definitely suppresses sentiment. The crypto market is now highly correlated with US tech stocks, and US semiconductor heavyThere's a detail that goes against common sense: when an exchange runs into trouble, people think the assets being withdrawn fastest are Bitcoin, but actually, it's stablecoins that move the quickest.
On November 8, Binance first reopened withdrawals for HYPE and APT, while other channels were still under security review. Data shows that around the hacker incident, BTC reserves dropped by 56,000 coins, ETH by 400,000 coins, and stablecoin reserves decreased directly by 9 billion USD.
It makes sense if you think about it—at the moment of trouble, everyone wants to hold onto something they can immediately run with; $BTC still needs to be sold somewhere first.
Now, the single-day net inflow has returned to 27.9 million USD. It's recovering, but still far from reassuring.