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Kalshi tests individual stock perpetuals, intensifying competition among traditional trading platforms
After the regulatory pathway for U.S. individual stock perpetual futures was approved, Kalshi began trial operations with contracts related to McDonald's, Costco, Qualcomm, and Amgen. Market competition has shifted from policy discussions to product implementation.
Meanwhile, ICE also plans to explore the U.S. compliant perpetual trading market with Trade.xyz. Traditional exchanges are studying how to introduce the crypto market's proven 24/7 trading mechanism into stock assets.
However, trial operation of products does not mean mature trading depth has been established. Liquidity, market maker participation, funding rates, and customer protection all need to be tested through actual trading.
I will be watching whether the $BTC derivatives market experience is absorbed by traditional platforms. Future competition will not only be about fees but also liquidity, risk control, and user trust.
#CFTC首次放行美国个股永续期货 #美国中期选举：民主党赢得国会两院控制权 #CircleQ3营收超预期，USDC链上交易量增长49% History often rhymes, Trump lost both chambers, is it a rebound or a reversal?
┈➤ Why did Trump lose?
History is rhyming; this is not Trump's first midterm election, but in 2018 he only lost the House of Representatives while still holding the Senate.
In the past 30 years, the only time both chambers changed party control simultaneously was in 2006 under George W. Bush. This might not be a coincidence, as in 2003 Bush was engaged in the Iraq war.
Trump provoking conflict with Iran is a reason.
┈➤ Rebound or reversal?
First, I don't think there will be an immediate reversal. Looking at the previous chart, after midterm elections, unless the controlling party in both chambers remains unchanged, historically there is no immediate big market rally.
Fortunately, the simultaneous "change of control" in both chambers happened in 2006, not 2018. After the 2018 midterms, there was a further significant drop, while 2006 was mainly a sideways shakeout.
Second, although the midterms changed the composition of both chambers, the president is still Trump. The previously approved temporary budget runs until the end of December; what Trump's subsequent budget proposals will be remains to be seen.
Third, do both chambers have the ability to stop Trump's actions against Iran? If they do, can it be done in the short term? If done quickly, will the CPI drop in the short term?
Therefore, my subjective judgment is: politically, there may still be some friction time between the two chambers and Trump. If fast, the market could improve in Q1 next year; if slow, then Q2.After the previous lows were broken, first look at positions, then at price
$BTC dropped to $75,690, $ETH touched $2,225, and both previous lows were breached together. The price is obviously striking, but what deserves more attention is the changing position structure.
In the past 24 hours, BTC perpetual open interest (OI) dropped about 2.1%; ETH perpetual OI decreased about 6.2% over the past 7 days, and total market OI is also declining, indicating that old leverage is still exiting. However, OKX coin-margined OI has slightly risen from a low level: BTC about +0.4%, ETH about +0.8%. This looks more like some are deleveraging while others are tentatively opening positions, rather than a pure liquidation. It is still difficult to conclude whether new positions are biased long or short.
Funding rates are also worth watching: BTC remains around +0.01%, ETH has cooled somewhat but is still above the 7-day average. Price breakdown and total positions falling, yet remaining longs carry non-negligible costs, so the structure is not solid.
Next, watch two points: whether BTC can hold $75,690, and whether ETH can reclaim $2,236. If prices continue to weaken but total market OI turns from falling to rising, it would indicate that new directional funds are starting to take over. The first round of deleveraging may be near its end, and the second round of long-short competition is just beginning.Woke up from a sleep, Bitcoin broke through 81,000, gaining 5,000 points, is there anything more satisfying than this? $BTC Today's macro focus includes U.S. Q3 productivity data and the Bank of England decision. Friday brings the U.S. October employment report.
My take:
The recovery is encouraging, but I want to see BTC reclaim $81.3K before giving the bullish case more weight.
For now, $75K remains an important downside reference.Sun Yuchen posted revealing a key reversal in the WLFI lawsuit.
At first, WLFI reported to the court that there was only a single entity in Florida; in August, the court ruled that part of the case would be heard publicly. A week later, it urgently revised the ownership list, adding 22 entities including those from the UAE, claiming that the federal court lacked jurisdiction.
Sun Yuchen sharply criticized: During fundraising, they touted themselves as a US-based DeFi, but when losing the lawsuit, they pulled out the offshore capital identity. He has already applied for the court to sanction the other party and will subsequently move to the California state court to defend his rights.
As early as February this year, there was news confirming that Abu Dhabi capital acquired 49% of its shares, but this was not truthfully disclosed at the beginning of the lawsuit.
Political narrative projects are highly variable. Compared to APT, DOT, AVAX, Celo, Ronin, and RVN, which have hard caps on total supply and fixed on-chain rules, the underlying certainty gap is obvious.Macro sentiment is recovering, but structural pressures remain.
BTC: $80,357, briefly dipped below 80,000 intraday before rebounding. The clarity of the US midterm election results has boosted risk appetite, fulfilling the oversold rebound logic. However, continuous ETF outflows and leverage liquidation pressures persist; the sustainability of the rebound depends on whether funds can turn into net inflows.
SOL: $95.44, appears stable on the surface but with underlying turbulence. Spot ETF outflows reached about $71.47 million in a single week, setting a record. Wallets related to the Binance hack continue converting SOL to BTC, creating additional selling pressure. $95 is the short-term dividing line between bulls and bears; losing this level could test support at $89.
XRP: $1.307, monthly unlocking of 1 billion tokens held in custody brings supply expectations, but historically about 70% are re-locked, so the actual increase in circulation is limited. The XRPL security upgrade activated with 94.3% support is one of the few positive fundamental variables.
The current rebound is driven by macro sentiment rather than a reversal in capital flows. The ETF flows of BTC, institutional selling pressure on SOL, and the unlocking pace of XRP together determine whether this recovery is a "dead cat bounce" or the start of a trend.
#美国中期选举：民主党赢得国会两院控制权 长鑫科技刚把回购上限从200亿直接抬到500亿，同一周，海力士与三星财报双双亮眼，韩国芯片出口暴增，存储原厂甚至喊出短缺将持续到2028年。基本面确实硬，这点我不否认。但真正值得警惕的，恰恰是这种"硬"被讲成了故事。 市场把两件事混为一谈了：存储卖不卖得动，和存储股该值多少钱。我质疑的从来不是前者，而是后者——由"超级周期"叙事和金融链条共同吹起来的估值部分。当一个行业需要龙头公司排队加码回购来托股价，同时满大街都在喊缺货，这往往不是最安全的时点，而是最热的时点。$BTC $ETH 这类风险资产的资金轮动逻辑也一样：叙事最响的时候，边际买盘往往已经在场内了。 先看事实链。长鑫回购额度翻倍以上，是公司层面的资本动作，不是需求端的订单证据；海力士、三星财报好、韩国芯片出口跳增，是已经发生的景气兑现；而"短缺到2028年"是原厂的前瞻表态，属于指引而非既成事实。三者被市场打包成同一条"缺货—涨价—估值抬升"的直线，但这条直线的每一段，证据强度并不相同。财报是后视镜，出口是同步指标，2028年的短缺是望远镜里的东西——而估值，是按望远镜定价的。 这就是人群容易低估的地方：他们以为自己在交易供需$CRCL 财报是“表观大超预期、内核不及格”的典型：EPS 0.84 美元对预期 0.39–0.42，超了 115%；营收 8.65 亿超预期约 9%。但8.65 亿里有 1.82 亿来自 Arc 链 ARC 代币的一次性预售。剔除后核心营收约 6.83 亿，同比约 -7.7%（我按去年 7.39 亿倒算，非公司口径）。 最关键的信号不在财报里，在股价里： 11/4 当天道指 +1.9%、纳指 +1.07%（蓝潮 risk-on），CRCL 交出 115% 的 EPS 超预期，只涨 1.20%，盘中还先跌到 72.38（-3.8%）。这种“大利好换不来涨幅”的反应，说明筹码在借利好出货。 二、财报拆解：三个数字，两种读法 $CRCL 总营收+储备收入8.649 亿+16.9%超预期，但含一次性 其中 ARC 代币预售1.82 亿—一次性，不可持续 剔除 ARC 后营收~6.83 亿约 -7.7%核心业务在缩 EPS0.84+31%（去年 0.64）超预期 115% 净利润（持续经营）2.26 亿仅 +5%增收不增利 调整后 EBITDA3.17 亿+85%同样含一次性 收入减分销成本62% increase 12 months after the election, how is this number calculated?
Democrats took both chambers, $BTC rebounded to 81,000.
Someone dug up historical data, saying the average increase one year after the election is 62.3%.
How is this number calculated:
The sample only includes a few election cycles, years with gains are remembered, losses are overlooked.
The average 62% is the mean selected from a few cycles, not a rule.
What I did:
When I see such a number, I look for the denominator; if I can't find it, I don't take it as a basis.
This time is the same, I can't find the complete sample.
The lesson here:
A percentage without sample size is just a claim.
Whether $BTC rises or not has nothing to do with this number.
I still haven't found the denominator for the 62.3% figure.
#BTC现货ETF资金流出，企业财库增持放缓
#$BTC When an exchange runs into trouble, most people's first reaction is to ask which hacker was responsible. This time, the founder himself spoke up, but he didn't say it was hacked; he said there was no one left.
Bitquery tracked about $391,000 suspected to have been transferred out from wallets related to BitMart, crossing three blockchains, ultimately ending up in a wallet connected to the Mercado Bitcoin attack incident. The detail of crossing three chains is more important than the amount: panicked theft usually leaves traces on only one chain, crossing three indicates there was path planning and relay in between.
Sheldon Xia's explanation is even more worth reading. He said the security team was severely understaffed, employees were threatened, former employees retaliated, and it was difficult to retain technical personnel. This statement shifts security from "whether a system was purchased" back to "whether there are people." Risk control is not a product; it requires someone monitoring abnormal transfers, someone who can withstand social engineering, someone who won't break under threats. When the people leave, the logs remain on the server, but no one is left to review them.
$391,000 is not a large amount, nowhere near the hundreds of millions involved in cross-chain bridge cases. But it exposes a common issue among small and medium exchanges: security investment follows trading volume, and when budgets are tight, the first thing to be cut is often the position that prevents incidents. $BTC and $ETH on large exchanges, self-custody, and small exchanges represent three different risk sets, but many only calculate the profit side.
One point worth considering is: if the gatekeepers were forced to leave due to threats, next time there might be no need for anyone to write attack code at all.⚠️ Putting the $BTC trends after the three U.S. midterm elections side by side reveals an intriguing rhythm: shortly after the election ends, the price first faces pressure, then gradually forms a bottom.
📉 2014: Deep retracement of about 58%
📉 2018: Deep retracement of about 52%
📉 2022: Deep retracement of about 26%
The three are not simple copies, but the common point is: post-election uncertainty first impacts sentiment, leverage and floating positions are cleared, a phase low appears, and BTC then rebounds. What’s more notable is that the retracement magnitude is decreasing, and the market structure and participant maturity are also evolving.
History may rhyme, but it doesn’t necessarily repeat exactly. What really needs to be observed is not the number "how much it falls," but when liquidity, policy expectations, and market confidence realign. If a bottom forms again, a rebound may not be absent, but the path may not be the same.
This time, will history repeat or be rewritten? 👀#美国中期选举：民主党赢得国会两院控制权 #CircleQ3营收超预期，USDC链上交易量增长49% #AMD数据中心收入近翻倍，营收及指引均超预期 一、核心结论 评级：可介入（回踩做多，轻仓），但绝对不要在 NU7 激活前重仓。 $ZEC 是高杠杆筹码结构，加上明天上午的确定性事件。做多逻辑并非建立在“币价会涨”上，重点在于空头已经堆到 1.68 亿美元、多头只剩 580 万，升级前任何买盘都会触发踩踏式回补。今天 +7.6% 就是这个机制在运行。 但这是已知事件（scheduled event），最容易出现利好出尽。11/3 已经预演过一次：单日 -8.17%，1,370 万爆仓里 77% 是多单。 关键时间修正：媒体都说“11/5 升级”，实测链上数据不支持—— 当前主网高度 3,542,076（11/5 06:54 UTC+8 抓取） 激活高度 3,543,405，还差 1,329 个块 近 100 块实测出块间隔 75.0 秒（近 60 块 83.2 秒） 预计激活时间：11/6 10:30–13:30（北京时间） 也就是说，升级在 明天上午，而你还有 27–30 小时的布局窗口。附带一句：11/6 21:30 还有非农，双重事件挤在同一天。 二、技术面 日线：EMA8 1,243 / EMA21 1,242 / EMA5On one side, the US spot BTC/ETH ETFs are still being withdrawn continuously, while on the other, $ZEC has rebounded about 9% within 24 hours during the NU7 upgrade window, returning to around 1300 — don't lump these two capital flows into the same sentence.
Privacy coin interest is rising, and futures positions are also increasing, but mainstream institutional allocations are still bleeding out. The upgrade changes network parameters, not the redemption and subscription forms of passive funds.
Recording the window market ≠ defining the trend. Media repetition, confidence medium. Are you focusing more on on-chain activity after the upgrade, or continuing to watch ETF inflows?
$ZEC $BTC这次破位，市场还没洗干净。 BTC最低跌到75690美元，ETH最低触及2225美元，两个前低同时被打穿。但真正值得看的不是价格，而是仓位正在出现分化。 跨市场数据显示，BTC永续OI过去24小时下降约2.1%，ETH近7日下降约6.2%。目前统计的总OI也同步回落，说明旧杠杆仍在退出。可另一边，OKX币本位OI却在低位小幅增加，BTC约增0.4%，ETH约增0.8%。 这意味着市场并不是单纯“跌完出清”，而是在边撤杠杆、边重新下注。新进来的仓位可能是抄底多单，也可能是顺势空单，目前还不能定性。 更值得警惕的是资金费率。BTC仍接近+0.01%，ETH虽然降温，但依旧明显高于7日均值。价格破位、总仓位减少，剩余多头成本却不低，这种结构并不稳定。 后面继续看BTC能否守住75690美元，ETH能否重新站回2236美元。如果价格继续下探，同时全市场OI由下降转为增长，才说明新的方向仓位开始接管。现在更像第一轮出清结束了，但第二轮博弈刚开始。$BTC $ETH A steady daily spot bid in $BTC, unchanged in size and tempo, is the quiet headline of day 96 of one investor's accumulation log. What makes the entry worth reading is not the buying itself but the pairing: spot purchases continue at a fixed pace while futures exposure is deliberately trimmed. That combination tells you more about market structure than any single price print. The flow backdrop is supportive. Money is arriving from several directions at once and sentiment has turned more optimistBTC Dominance dropping will have nothing to do with money printing or rates
It's tied to the Risk Ratios with a clear inverse correlation over the past decade
The Risk Ratios have gone into full blown bull markets without money printing or low rates over the past half century
Also have gone into full blown bull markets with rates elevated and rates rising
I don't think BTC Dominance is a great metric to determine median Altcoin performance but if you are wondering why it didn't drop betweenCrypto rises, US stocks fall; the core reason is that the pricing factors on both sides are different.
Initially, the market panicked over the Democratic Party's strong regulation after taking power, but later funds realized that it would be difficult for legislation to completely ban crypto, so the negative news was priced in early, and the crypto market warmed up.
There is clear differentiation within the sector: APT, DOT, AVAX, Celo, and Ronin have a hard cap on total supply, combined with the stablecoin narrative, making them more favored by capital; ETH, SOL, and TRX have no supply cap, continuous inflation, and long-term dilution of holdings, resulting only in volatile and grinding market movements.The most surreal scene: when the election results came out, the biggest losers weren't stocks, but the presidential coins. $TRUMP dropped 17% in one day, $MELANIA followed with nearly a 13% drop, and $WLFI also fell over 7%.
Meanwhile, $BTC rose 4%, $ETH went up 6%, acting like nothing happened.
To put it bluntly, these coins aren't sold based on technology, but on "whether the boss is still popular." When the boss's party loses, the coins drop first as a sign of respect.
So don't ask if political coins have fundamentals; they only have polls. 三个币都冲到前高，头顶空单压顶。上空却分三路：ETH 多头猛拉、上空被周期认得最实；BTC 上下清算额都大、对称拉锯；SOL 清算额小一个量级，带不动方向。 $BTC ｜阻力 81,528.52｜支撑 79,879.52
BTC 上空 81,528.52 离现价 0.87%、压着 7,051 万空头清算，下多 79,879.52 离 1.17%、压着 8,235 万多头清算，上下都厚实。上空离得更近、常被先碰到，可下多周期认得更实，两边在拉锯。4 小时布林上轨之外、带宽 7.02% 开口，仓 24 小时加了 5.36%、量比 4.31 放量，但大户偏空、爆仓多空各半，冲上去还有上空压着。先看下多先被碰到还是上空先被扫。 $ETH ｜阻力 2,462.40｜支撑 2,391.35
ETH 上空 2,462.40 离现价 0.91%、压着 4,472 万空头清算，周期认得最实、常被碰到，上空最干净。下多 2,391.35 离 2.00%、清算 2,629 万，比上空小一截。4 小时布林上轨之外、带宽 11.39% 炸开，仓 24 小时加了 4.99%、量比 7.28 极端放量，近 In-depth: Bernstein sees $125,000, Citi sees $113,000 — who is leading this Bitcoin "expectation management"?
Bernstein sets a year-end Bitcoin target of $125,000, while Citi raises its 12-month forecast to $113,000. Multiple leading investment banks collectively raise price expectations, sparking market discussion: is this fundamentally driven, or a carefully orchestrated expectation management?
The underlying logic of the two institutions is not entirely consistent. Bernstein focuses more on sovereign debt and currency depreciation logic, combining the halving cycle and mining cost pricing, believing Bitcoin as a hard asset will continue to benefit; Citi’s target upgrade is more anchored on expectations of ETF capital inflows, improved regulatory environment, and better macro liquidity.
The essence of expectation management is Wall Street institutions using research reports to guide market sentiment. On one hand, institutions output optimistic targets to attract incremental funds to push up asset valuations; on the other hand, they have already positioned themselves in advance. But it is worth noting that institutional research reports have obvious "ex-post characteristics" — many upgrades are actually results after the market has risen, not leading signals of market initiation.
Investors must clearly distinguish: institutional target prices are scenario simulations, not inevitable endpoints. Once inflation rebounds or ETF funds shift from inflows to outflows, these optimistic expectations will be quickly downgraded, followed by sharp pullbacks. Macro easing + ETF inflow: Is Bitcoin's "Davis Double Play" coming under the dual drive?
The so-called Davis Double Play refers to a positive resonance formed by the combination of fundamental improvement and valuation uplift, amplifying the asset's upward momentum. Currently, the Bitcoin market is showing signs of two main positive trends occurring simultaneously.
On one hand, macro expectations are shifting towards easing, with the market beginning to price in a rate cut cycle. U.S. Treasury yields are declining, the dollar is weakening, and risk appetite is increasing. Bitcoin's valuation logic as a scarce non-sovereign asset is being reactivated, corresponding to valuation expansion. On the other hand, spot ETF funds are flowing back, institutional capital continues to enter, BTC inventory on exchanges is steadily decreasing, and chips are increasingly locked by long-term funds, strengthening buying power. This equates to a fundamental-level demand surge.
If these two forces continue to resonate, a Davis Double Play rally is likely. However, it is important to be clear that this is currently only an expectation phase, not a certainty. If inflation data rebounds, rate cut expectations are delayed, or ETF funds turn to net outflows again, the market could easily reverse, evolving into a Davis Double Kill.$APP
3,899 contracts. APP-USDT-SWAP has this many open positions across the entire network, equivalent to about $1.3 million. I scanned around, and this pool is considered thin among single-stock tokens.
At 05:00, that hourly candle went from 271.83 to 343.77, with 12,000 contracts traded in one hour, compared to 219 contracts the previous hour. Over fifty times the volume was squeezed into a pool of just over one million.
The price rose from 246 to 343, up 40%, while open interest increased only by 20%. The fee rate is -0.1047%, meaning shorts pay longs a rebate of one-thousandth every eight hours; this figure is extreme by any standard.
Not much new money came in; the added positions look more like shorts. After the AppLovin stock market close, the token settled the after-hours accounts first. Tonight when the US stock market opens, either the stock will accept this price or the token will give it back.
I’m just watching this kind of asset. The pool is too shallow; a single spike can wipe out principal and profits. Those quick to act make gains; those slow become the meat.
#美国中期选举：民主党赢得国会两院控制权 $ZEC
1352.13, formed by the six-hour candle at 18:00 last night. After that, it tried to go up twice, once at 1326 and once at 1322, with the highs gradually moving down.
Currently around 1316. The price hasn't dropped much, but volume has fallen sharply: the hourly candle at 23:00 had 15.6 million contracts, while the one at 3:00 a.m. only had 2.7 million contracts.
The fee rate is 0.0049%, with OKX benchmark at 0.01%, less than half. The contract and spot prices are tightly linked, with a slight discount.
This rise is in the spot market, not leverage. If it were driven by contracts, the fee rate would jump with every price step up, but no one is adding leverage now.
From the low of 1157, it rose seventeen points straight without pause. At this position, I prefer not to chase and let it choose its own direction. When the fee rate really takes off but the price can't rise anymore, that's when I'll take action.
#美国中期选举：民主党赢得国会两院控制权 From "Safe-Haven Asset" to "Mother of Risk": Why Did Bitcoin Predictions Suddenly Shift Collectively?
Bitcoin was once cloaked in the guise of digital gold, regarded by investors as a safe-haven choice to hedge against crises and inflation. However, with large-scale institutional capital entering the market, its asset attributes are undergoing a disruptive transformation, and many investment banks are rewriting their pricing logic for BTC accordingly.
The core reason lies in Bitcoin's deep integration with the traditional financial system. After the launch of spot ETFs, a large amount of Wall Street capital has allocated to Bitcoin, significantly increasing BTC's correlation with U.S. stocks and the Nasdaq. When market panic strikes and liquidity tightens, institutions prioritize selling high-volatility assets to raise cash, and Bitcoin often faces sell-offs first. Its safe-haven function fails directly, instead becoming the "mother of risk" that amplifies market volatility.
This narrative shift leads to institutional viewpoint swings: during phases of loose liquidity and rising risk appetite, institutions are bullish, citing scarcity logic to push target prices higher; once recession expectations heat up, they immediately lower forecasts and redefine it as a high-beta risk asset. This back-and-forth is the underlying reason for the recent collective shift in institutional predictions.Don't treat the Democrats taking both chambers as a bull market starting gun. Expectations have already been fully priced in; the actual outcome is more like a realization window. The real test lies in political tug-of-war and regulatory details.
Looking at $BTC, the election market has been overextended in advance. The pattern of a shakeout followed by recovery after the election cannot be ignored. With checks and balances between the executive and legislature, slow bill progress, and rising policy uncertainty, if market sentiment weakens, bulls are prone to a stampede, and new lows are not impossible.
Looking at $ETH, it acts more like an amplifier of risk appetite. Expectations of tighter regulation will suppress capital sentiment, and the previous high lobbying efforts will be discounted. The ecosystem lacks new narratives; once risk-off sentiment rises, the decline could be amplified with limited resistance.
On the macro front, a split Congress means limited fiscal stimulus space. Don't treat the election as a talisman; non-farm payrolls and inflation are the next hurdles. The high interest rate environment remains unchanged, and data volatility can disrupt the market at any time.
Looking at $XAUT, with fiscal obstacles, sticky inflation, and central bank buying, safe-haven funds still have reasons to allocate here, and resilience is likely stronger than in the crypto space.
Summary: The election outcome marks the start of volatility, not a safety net. Resistance above remains; chasing highs is risky. Position control and guarding against spikes are paramount.In the past 24 hours, the entire network liquidated $1.004 billion, with 135,000 people wiped out.
Short positions liquidated $571 million, long positions liquidated $434 million. Shorts liquidated $137 million more than longs, which is completely opposite to previous "long liquidations" market trends.
Looking at the coin distribution: BTC alone liquidated $408 million, with shorts accounting for 75.6%, meaning over $300 million of that was short positions liquidated; ETH liquidated $248 million, also dominated by red short positions. BTC and ETH are the hardest hit in this short squeeze.
Looking at the timeline: $621 million liquidated within 12 hours, with shorts at $425 million. This was the wave after last night's election results, a collective stampede of shorts. Within 4 hours, longs and shorts were almost even ($17.17 million vs. $14.83 million), indicating a tug-of-war after the rebound. The largest single liquidation was on HTX's ETH, a $37.99 million short position forcibly closed by a whale.
This market dominated by short liquidations is called a "short squeeze." Election results → bad news fully priced in → shorts panic close positions → price pushed up. But brothers, understand that in this $1 billion liquidation, shorts were passively closed, not new longs entering.
The characteristic of a short squeeze is rapid rises and rapid falls. Once shorts are fully liquidated, without new buying support, prices can fall anytime. 130,000 people liquidated shows leverage was too crowded at this level. With non-farm payroll data coming out tomorrow night, don't chase the highs.
#美国中期选举：民主党赢得国会两院控制权 $BTC $ETH $ZEC 现在更像博弈中段，不是追涨段。你也有那种"明知道故事很好，却不太想在这里加仓"的犹豫吗？ 我盯着AMD这份Q3，第一反应不是兴奋，是警觉。数据中心收入约85亿美元、同比翻近一倍，占总营收64%，EPS和营收都超预期，Q4指引中值170亿也高过共识。表面看是AI叙事又赢了一局，但市场交易的可能不是"增长"，而是"增长还能不能继续超预期"。当数据中心已经占到六成以上，超预期门槛其实被抬高了。 偏多的一侧很清楚：EPYC服务器CPU和MI450系列GPU是双引擎，Helios系统和Venice处理器还在放量前段，云和AI基建的需求没有断。这会托住BTC和ETH的风险偏好，尤其当纳指AI权重股情绪稳的时候，加密里的AI叙事代币、算力相关山寨更容易被拿来做情绪放大器。 但风险藏在结构里。客户端和游戏收入同比下滑8%，只有Ryzen移动端撑住客户业务增长7%，说明不是所有板块都在同步扩张。更关键的是Q4毛利率指引约55%，低于Q3的56%——收入加速不等于利润同步变厚，产品组合、成本、产能执行都会影响最终兑现。这一层如果被忽略，FOMO容易在"营收超预期"上冲得太早。 我自己的节奏判断是：这属于板Friday is $HYPE unlock day — 180,000 HYPE (~$15.7M) goes to core contributors on Nov 6. Small vs the 9.92M on the old schedule, and the protocol has already burned 49.87M HYPE, ~5% of supply, with daily buybacks still running. $HYPE $86.50, 7d range $78.11–$96.70. Burn vs unlock — which side wins Friday? #HYPE #Hyperliquid 1. Why has AKE been continuously falling?
I believe there are four key reasons to focus on currently.
1. Consecutive liquidations of long positions
Market data shows that AKE had at least about $696,000 in forced liquidations within 24 hours, mainly from long positions.
This creates a chain reaction:
Price drops.
Long position margin becomes insufficient.
System forces liquidation.
Sell orders from liquidations push the price down further.
More long positions trigger liquidations.
This is a typical long squeeze.
2. Short position funding continues to increase
Data shows that AKE perpetual contract open interest increased by about 45% within 24 hours, but the price dropped about 30%.
This indicates a large number of new positions entering the market, rather than a price drop caused simply by shrinking trading volume.
At the same time, the proportion of long positions in accounts still reaches 63%, meaning the crowding of longs is a warning sign.
3. Selling pressure may exist from the project token itself
AKE corresponds to Akedo, an AI content creation platform.
This small-cap token is easily affected by:
Early profit-taking;
Concentrated selling by large holders;
Insufficient liquidity;
Deteriorating market sentiment;
and other factors.
4. A downtrend has already formed
With about an 87% drop over the past 7 days, this is not an ordinary intraday correction.
Currently, rebounds should not be simply regarded as reversal signals. $AKE The election results are out, and the first to act was House Democratic leader Jeffries, who directly declared: to pass a bill to repeal Trump's tariffs and to end the Iran war.
As soon as this statement came out, crude oil prices crashed immediately, plummeting more than 8%. The US dollar and US Treasury yields fell, while gold surged.
What does this have to do with the crypto world? It matters a lot. The plunge in oil prices means inflationary pressure eases, reducing the probability of a Fed rate hike in December, which is positive for BTC. The market's biggest fear before was the chain "oil price rise → inflation rise → rate hike." Now that oil prices have collapsed on their own, rate hike expectations cool down, and risk assets can breathe a sigh of relief.
My judgment is that this is another hidden driver behind BTC's rebound to 80,000 last night—not just the election, but also the easing expectations brought by the oil price crash.
#美国中期选举：民主党赢得国会两院控制权 $BTC $ETH $ZEC A cryptocurrency perpetual contract short position portfolio worth as much as 510 million USD is a typical whale-level market bet, reflecting a clear judgment on the market trend while also carrying extremely high trading risks.
The entire short portfolio uses 5X full margin leverage, covering the mainstream core assets of the crypto market.
$BTC short: holding 1,938.96 BTC, entry price $78,096, current unrealized floating loss of $3.8138 million, liquidation price as high as $139,526.81
$ETH short: holding 36,800 ETH, entry price $2,375.07, current unrealized floating loss of $1.6142 million, liquidation price $5,527.66
$SOL short: holding 249,100 SOL, entry price $91.4214, current unrealized floating loss of $772,400, liquidation price $550.8
Notably, all three positions are continuously earning positive funding fees, with cumulative funding income exceeding $7.12 million. This means the overall market is currently dominated by bulls, allowing the short positions to continuously receive funding rate subsidies from the longs.
Using 5X moderate leverage without high leverage to amplify risk indicates the trader is not an all-in gambler but is making a strategic layout based on market judgment.
Diversified bets on the three major mainstream coins avoid a single coin’s extreme volatility directly breaching the position, smoothing volatility risk through asset diversification.
The liquidation prices are far above the current entry prices, meaning only an extreme doubling-level price surge would trigger full liquidation. The trader is betting that the subsequent market will not break through this extreme threshold.
Even so, a 510 million USD short position is still a sword hanging over the bulls’ heads in the crypto market. If the market continues to rise unilaterally, floating losses will quickly consume margin, and the whale itself will face forced position reductions and a liquidity crisis caused by market squeezes.
This position essentially bets against the current market sentiment: the crypto market is generally filled with optimistic expectations of a continued bull market and rising prices, with many retail and institutional investors opening long positions chasing gains, while this massive short position is betting on a deep market correction.
The continuous positive funding fees indicate that bullish sentiment is overheated, allowing shorts to earn the holding costs of longs passively, which partially offsets the pressure from floating losses. However, extreme market events have never been absent in crypto history. If a "black swan" style one-sided surge occurs, this 500 million USD-level short position could very likely become the sacrifice of a new round of short squeeze in the market.
#美国中期选举：民主党赢得国会两院控制权 I always thought AI was bottlenecked by chips, but it turns out it's the generators.
Satellite images show that the data center IREN built for Microsoft is missing backup generators and cooling equipment, so it's uncertain if it can be delivered by the end of the year; Nebius's 140 million watt project in New Jersey is rumored to be delayed until 2027.
The funniest part is Microsoft itself: last quarter, AI spending was $5 billion less than expected, with the reason being that others didn't deliver on time. So it's not a lack of money, but the buildings aren't finished, and the GPUs have nowhere to be installed.
So what exactly was that surge in $TAO and other compute power tokens based on?Everyone has been watching the coin prices these past two days, but the initial problem lies on the data center floor.
Research institute Aterio used satellite images to examine two projects: IREN's Horizon 4 data center built for Microsoft in Texas is missing backup generators and cooling equipment on site, risking a year-end delivery failure; Nebius's planned 140 MW capacity in New Jersey might be pushed to 2027.
Looking at the other side, Microsoft's AI-related capital expenditure last quarter was $5 billion less than expected, and it also lowered its full-year guidance. One reason given by the CFO was delivery delays from third-party cloud service providers.
These three things together are the key. AI computing power is a chain: cloud providers place orders, data centers are built, GPUs are installed, and only then do tokens get to tell their story. Right now, the bottleneck is at the second link. Without power in the data centers, everything else will be delayed, while the market's valuation of computing power tokens like $TAO and $FET essentially prices in the money from the third and fourth links in advance.
So I lean toward one judgment: the computing power narrative needs to be discounted, but don't rush to short. Delivery delays don't mean demand has disappeared; the money is still there, just the pace has changed. The ones that will really get hit are those relying solely on growth expectations, while those with actual revenue can hold up.
Worth pondering is Microsoft's phrase "infrastructure strategy remains flexible." Flexibility can be understood as switching suppliers or slowing down. These two interpretations have opposite implications for the computing power sector, and currently no one can be sure which one it is.2308 didn't hold, 2300 is not support
$ETH surged to 2308 then dropped back to 2246.
The cost basis for those chasing the highs is now fully reflected in the price.
How this number is calculated:
From 2308 down to 2246, a retracement of 62 dollars.
For leveraged positions, this range is enough to trigger forced liquidation.
Common misunderstanding:
2300 is repeatedly mentioned, not because it's very strong.
It's because some have built positions there, so it’s referred to as a line.
When the price moves down, the positions move first, not the judgment.
Once these positions are cleared, then the next group sets the price.
#BTC现货ETF资金流出，企业财库增持放缓
#$ETH 一份巨鲸持仓记录显示，其永续合约组合同时做空 BTC、ETH、SOL，总仓位价值约 6.7 亿。三笔仓位目前都有未实现亏损，但资金费收入提供了部分缓冲，呈现出“浮亏扛单、持续收取资金费”的结构。 BTC 空单采用 5X 全仓，持仓 -2326.18 BTC，仓位价值 $1.9 亿，开仓价 $76398.7，未实现盈亏 -873.31 万 U，资金费收入 +362.61 万 U。保证金为 3729.01 万 U，爆仓价 $137805.05。 ETH 空单同样为 5X 全仓，持仓 -8.75 万 ETH，仓位价值 $2.1 亿，开仓价 $2322.71，未实现盈亏 -855.6 万 U，资金费收入 +462.7 万 U。保证金 4235.83 万 U，爆仓价 $3940.83。 SOL 空单使用 7X 全仓，持仓 -68.48 万 SOL，仓位价值 $6480.4 万，开仓价 $94.3346，未实现盈亏 -20.37 万 U，资金费收入 +398.16 万 U。保证金 925.77 万 U，爆仓价 $285.99。 💡 我的看法。 这组数据最值得注意的地方，不是单纯的空单规模，而是未币安被盗63亿美元之后，CZ公开提议成立“加密安全联盟”。但目前只有方向，没有成员、没有治理结构、也没有启动日期。 11月3日，CZ在Talking Tokens播客和CoinDesk采访中说，AI正在加快攻击速度，行业只能“用AI防AI”。他提出的联盟要做三件事：互相分享事故教训和最佳实践、交叉审计彼此的系统、被盗后更快地协同冻结资金。他说讨论已在进行，但细节还没谈定。Gate创始人此前也呼吁过类似的共享安全联盟。 需要分清事实和观点：FBI把这次被盗归因于朝鲜TraderTraitor组织；CZ没有给出AI参与攻击的证据。Elliptic联合创始人Tom Robinson说，洗钱看起来是自动化脚本，没看到AI代理在做决策。币安自己披露的攻击链是假面试、恶意软件和被利用的内部AI工具，今年已拦截57起疑似朝鲜相关攻击。 对开发者和项目方，联盟落地前能先做的：把招聘面试和外部安装包当作攻击入口；内部AI工具的权限按最小化来配；准备好冻结联系人清单（发行方、跨链桥、交易所）。 接下来看什么：哪些交易所和稳定币发行方真的签约加入，冻结协作是否有统一的响应时限。 CZ proposed a You sell one lot of US stocks, and the money only comes back after T+1, with the risk of settlement errors in between. But on November 4, it was already done: a tokenized common stock transaction on the Canton network, where stocks and money exchanged hands simultaneously.
The most outrageous thing is not the speed, but the identity. The holders of these tokenized stocks have exactly the same rights as Nasdaq shareholders. It's not points, not certificates, it's just stocks with a different shell.
Five North sold, DRW Cumberland bought, using a permissioned pool. What $BTC and $ETH have been struggling to achieve for years, stocks have taken a step ahead. Alright, I'll keep waiting for my T+1.On November 4, the tokenized common shares of Nasdaq-listed company Canton Strategic Holdings completed their first batch of transactions on the Canton Network TSV LLC platform, marking the first batch under the SEC's innovation exemption framework dated September 17.
Seller: Five North; Buyer: DRW Cumberland; Flowdesk provided liquidity, using the Tradecraft AMM permission pool with atomic settlement. Market makers, liquidity providers, and protocol parties all participated.
Two points to watch: The permission pool means participants must be admitted, explaining why the first batch could only be traded within a limited scope. Atomic settlement means stocks and money are exchanged simultaneously, with no T+1 delay, eliminating the most expensive part of traditional securities.
More importantly, the last sentence: holders enjoy the same rights as Nasdaq shareholders. The tokens are no longer shadow certificates but the rights themselves carried on a new medium.
The question arises: when registration, clearing, and settlement are completed within an hour while maintaining full shareholder rights, what fees can brokers charge for the T+1 plus two layers of custody chain? $BTC and $ETH have long proven on-chain settlement is feasible, but they lack cash flow and shareholder meetings. The real challenge is stocks, and now the first brick has been moved.
One exemption, one permission pool, one initial batch—large-scale liquidity is still far off. But assets like $ONDO, which bet on real-world assets, will be repeatedly used for pricing.一份历史成交更新显示，三笔永续多单都已分批兑现并全部平仓，涉及 BTC、ETH 和 MU。按记录口径，BTC这笔收益最高，但三种资产的数量单位不同，不能直接用持仓数量比较仓位大小。 BTC永续多使用25X全仓，开仓均价80259.4，平仓均价81420.7，最大持仓72 BTC，全部平仓，已实现收益+80231.05 U，收益率+34.70%。记录称这笔持仓周期较长，完整拿到了一段上涨行情。 ETH永续多使用20X全仓，开仓均价2334.27，平仓均价2374.19，最大持仓141 ETH，全部平仓，已实现收益+5442.37 U，收益率+33.07%。这笔交易属于短线跟进，平仓均价也已明确。 MU永续多使用10X全仓，开仓均价874，最大持仓191 MU，全部平仓，已实现收益+9644.33 U。不过，平仓均价在记录中没有完整展示，收益率也未列出，无法据此还原完整的价格路径。 💡 我的看法。 这三笔交易更值得比较的是兑现方式，而不是简单比较收益数字。BTC采用较高杠杆并持仓更久，价格反向波动时，仓位承受的变化也会更快放大；ETH则体现了短线跟进和及时兑现。MU虽然记录了已实现收益，$BAT
From 0.12745 to 0.1449, thirteen percent in twenty-four hours. This coin has been around since 2017, Basic Attention Token, used for browsers, many people think it disappeared long ago.
I don't look at its price increase when analyzing its market. I focus on the fee rate. Now it's -0.0059%, negative, meaning shorts are paying longs.
At 05:00, there was an hourly volume of 340,000 tokens, double the previous hour's 180,000. At the 06:00 opening, another 130,000 tokens traded within minutes. The price is sticking to the 24-hour high of 0.1449, no pullback.
But the total perpetual positions are only 1.59 million contracts, equivalent to 2.3 million USD. The 24-hour turnover is over 7 million, a threefold turnover. This is a small pool.
When an old coin suddenly rallies, it's mostly because someone first swept the spot market, and the contracts follow. Shorts haven't fled and are still paying, so this wave isn't over.
My approach is simple: don't chase the high points, add to my watchlist and wait for a second volume surge. In this kind of pool, it's easy to get in but hard to get out.
#美国中期选举：民主党赢得国会两院控制权 $SNDK
This morning someone forwarded me the message "The first batch of tokenized US stocks has been traded," saying it's a big positive. I'm not so optimistic.
The trade did happen, the first transaction was completed on the Canton network, falling under the SEC's innovation exemption framework. The settlement layer has indeed moved forward a step. But how did the token react? SNDK is now at 1046, it opened at 1136 yesterday, still about eight points down.
At 23:00, there was a 1-hour sell-off of 240,000 shares, dropping from 1105 down to 1029, then volume gradually shrank to just over 20,000 shares. The price hovered between 1030 and 1050 for six hours, no new lows, and no buyers rushing in.
Open interest remains at 138,000 shares, about 145 million USD, roughly the same as three hours ago when I last checked. The fee rate is 0.0357, three and a half times the baseline. The bulls are still losing money holding on.
The pipeline is open, but no water is flowing in. Buyers of the tokens want to be able to take directional positions when the US stock market closes, not just smoother settlement. Unless the fee rate drops, I consider this news as being for the underlying stock.
#美国中期选举：民主党赢得国会两院控制权 CentralBanksBuy#Anthropic's Q3 revenue soars 1127% Pre-IPO on-chain valuation is currently out of sync
When I hold a brush and a trowel, cleaning out base metal coins abandoned by the Roman Empire in the 3rd century AD due to hyperinflation from sediment layers deposited over a thousand years, the stratigraphy before my eyes overlaps across time and space with the data disclosed by the World Gold Council today.
In Q3, global central banks net purchased 321 tons of gold, a year-on-year surge of 42%, setting a new cycle high; meanwhile, spot gold has corrected 30% from its peak to fluctuate around $3900 under the pressure of a strong dollar and deleveraging.
To retail investors lacking historical knowledge, this is merely a short-term divergence and pullback in asset prices; but to archaeologists who have long dealt with ruins and yellowed bamboo slips, this frantic accumulation of hard assets amid price declines is clearly a classic excavation sample of global financial empires frantically building shelters in ruins on the eve of order collapse.
There is nothing new under the sun. Opening the "History of the Decline and Fall of the Roman Empire," from Emperor Nero’s first debasement of the denarius silver coin to the complete collapse of fiat credit in the Diocletian era, every desperate gasp of the late empire was accompanied by the hiding of gold and silver among the people and the physical plundering by the ruling class.
Inserting the probe into modern history: on the eve of the 1971 collapse of the Bretton Woods system, De Gaulle sent warships to exchange dollars for physical gold, a scene identical to the current sovereign institutions swallowing 321 tons of physical gold regardless of short-term fluctuations.
Modern people arrogantly believe that paper money and credit default swaps are eternal institutional innovations, but after excavating countless ruined Roman temples, I feel more fear than anyone else — the current degradation of paper credit amid fiscal deficits and unlimited quantitative easing is just another mummy rotting in the history of human currency.
ETF holdings have climbed to a record 4256 tons, while demand for gold bars and coins has plummeted 19%. This significant data gap reveals a harsh truth: deep sovereign funds are, with astonishing unified will, completing the re-anchoring of physical gold and silver before the system collapses, while the grassroots populace, amid short-term deleveraging pain and liquidity tightening, is personally discarding the true remnants of the ark.
This is not an ordinary bull-bear game but a sovereign-level "monetary standard reconstruction" ritual happening right under our noses.
Every carbonization and weathering of the old global financial order inevitably undergoes this brutal cycle where the purchasing power of paper money is ruthlessly crushed by the wheels of history, and physical hard currency and anti-inflation encrypted codes regain power.
From the victims clutching gold coins in the ashes of Pompeii to today’s institutions struggling to deleverage in the fiat quagmire, the gene of history never changes: when the tidal wave of credit speculation completely dissipates, the only thing that can be recognized and echo through time in the deep strata is always the untainted hardness and constant scarcity.据作者披露，这组 BTC、ETH、SOL 永续多单在同一天开仓、同一天平仓，三笔仓位统一采用10X全仓。交易结果全部实现盈利，但这更像一次同步布局后的快速离场，不能直接推导出长期策略效果。 BTC 永续多单开仓均价76890.9，平仓均价77131.8，最大持仓2.601 BTC，已实现收益+482.47 U，收益率+2.41%。ETH 永续多单开仓均价2382.72，平仓均价2396.87，最大持仓83.94 ETH，已实现收益+1044.20 U，收益率+5.22%，按这组数据看，ETH的收益率在三笔中最高。SOL 永续多单开仓均价97.92，最大持仓2042.47 SOL，已实现收益+1511.63 U；素材没有列出平仓均价和收益率，因此这两项不作补充判断。 💡 我的看法。 这组交易的看点不只是三笔都赚到钱，而是BTC、ETH、SOL被放在同一方向、同一杠杆和相近时间窗口里处理。这样的安排能简化执行，遇到预期中的小幅上行时快速落袋；但三类资产同步做多，也意味着波动风险可能同时传导到全部仓位。10X全仓下，短线价格回撤足以放大保证金压力，成功平仓不能抹去这个结构性风险。 如果继续$xMU Negative news: Democrats win governorships in Texas and Ohio, Micron drops 7.9% in one day
XMU currently at $800.36, down 7.92% in 24 hours, falling from 874.33 to a low of 792.79, with a trading volume of about $10.08 million
The reason for the drop is straightforward: Democrats took control of both chambers of Congress and also won the governor elections in Texas and Ohio, two major data center states. The market fears that land use, power supply, and approvals for new data centers will slow down (Motley Fool)
Micron has risen about 180% this year, relying on memory shortages driven by AI servers. Once construction slows, shortages ease, and price increase potential is compressed
Last quarter's gross margin of 86.8% was built on rising memory prices (Yahoo Finance). When prices cool down, it hits first. On the same day, SanDisk fell 9%, Western Digital fell 7%, and the storage sector was sold off together
The company says over 75% of shipments for 2027 are already locked in, which can support short-term performance but cannot prevent valuation from being revised downward.
#美国中期选举：民主党赢得国会两院控制权 BTC's strong breakout above 81,000 should not be constrained by the linear thinking of "Democrats winning is bearish." Considering the latest election situation and market conditions, this rally is actually the result of a triple logic resonance:
First, all bearish factors have been exhausted, and the political uncertainty has completely settled.
The Democrats took control of both chambers, severely limiting the Trump administration's fiscal and regulatory actions. The market had been pricing After an exchange runs into trouble, instead of choosing to "fix it before reopening," it breaks the reopening into several phases: On November 9, it first only opened the website, allowing users to view balances, statements, assets, and investment status. Transfers, withdrawals, and trading will be gradually enabled after each module passes security verification. The sequence is very deliberate—first let the eyes see, then let the hands operate.
The compensation plan uses own funds. The weight of this statement lies in its acknowledgment of the gap, while shifting the gap onto the company's balance sheet rather than the customer asset pool. The numbers in customer accounts remain unchanged; the shortfall is covered by shareholders.
What makes the promise credible is not the wording of the announcement, but the on-chain actions: Tether, Circle, Paxos, BRL1, together with Chainalysis and community experts, froze over 15 million USD of related assets. Stablecoins like $USDT, $USDC, $USDP all have issuer-level freezing authority, which is usually criticized for centralization but proves useful in crises.
The first phase only allows queries, not withdrawals. This is not a technical issue but a liquidity issue. Withdrawals are the real run point—opening them means all happening simultaneously; queries, on the contrary, allow panic to settle first.
What’s worth considering: own funds compensation can absorb one incident but not a second. No matter how well staged the phased reopening is, it only extends the trust repair period rather than restoring it. The pricing of $BTC and $ETH never looks at announcements, only at how many people are still willing to keep their money inside.🇺🇸 US Stock Market Close · Wed 11-04
S&P 500 7,688.62 ▲1.58%
Nasdaq 100 28,437.17 ▲0.91%
Dow Jones 53,356.12 ▲3.03%｜VIX 16.61
NDX100 Up/Down Ratio 69 up / 35 down
Extremes MRNA ▲13.11%｜DDOG ▼14.42%
MSFT 555.80 ▲6.68%
AMZN 266.03 ▲6.12%
AAPL 349.51 ▲5.31%
NFLX 66.39 ▲4.68%
TSLA 385.19 ▼3.34%
GOOGL 288.93 ▲3.18%
NVDA 200.13 ▼3.17%
AVGO 325.48 ▼2.00%
META 630.00 ▲1.44%
AMD 488.78 ▲1.01%
💡 Today the Dow led the gains, followed by the S&P, while the Nasdaq was weaker with clear divergence among tech heavyweights. MSFT, AMZN, and AAPL supported the market, while NVDA, TSLA, AVGO, and DDOG dragged it down; 69 up, 35 down, with more advancing stocks but not a unanimous rise. VIX at 16.61 indicates stable sentiment, with style resembling capital rotation rather than a broad tech rally. Watching the market at 6 AM, it's getting lively again! BTC is challenging 80,000 again, ETH's rebound is stronger, and UNI is also active. But with this rise, have institutional funds really returned?
First, look at $BTC: estimated at $80,500
After the US midterm elections, the market is reassessing the crypto regulatory outlook. A weaker dollar and renewed risk appetite are driving the rebound, but with ETF funds continuously flowing out before, it's still uncertain if the buying momentum can continue. Short-term focus on the 80,000 support; holding above it targets 82,000, breaking below warns of a retest of 78,000.
Next, look at $ETH: estimated at $2,450
ETH's recent rebound is stronger than BTC's, but institutional fund flows remain divided. Fed policy expectations and US employment data continue to influence market sentiment. Short-term holding above 2,400 offers a chance to challenge 2,500; only after breaking through is there more room to grow.
Finally, look at $UNI: reference price around $7.7
The SEC's recent explanation on governance token voting rights has drawn attention, easing some regulatory uncertainty around UNI. However, good news doesn't mean an immediate rise. Short-term focus on 7.5 support; breaking 8 dollars is needed for further strength.
A few final words:
Price rebound is just the first step; sustained ETF fund inflows are more convincing. The biggest fear now is chasing the rise only to fall back again!
Do you think BTC can hold above 80,000 this time?
#索尼财报前瞻：游戏与音乐业务表现如何？ Heat is fading, don't rush to catch the falling knife
Heat, after all, has to subside eventually. If you're holding meme coins or looking to bottom-fish, you might want to take a close look at these few.
$PEPE After the neighboring theft incident caused sell-offs, a legendary trader bought 45.08 billion tokens, driving the price up. But once the heat died down, trading volume couldn't keep up, and now it can only hover around 0.000005. Without continued buying pressure, staying low just means staying low.
$TRUMP Around 1.58, on election voting day, not a single cent of political concept funds came in. Political tokens are like this: once the event passes, they expire on their own.
$UNI Previously, when Robinhood chain launched, everyone bet on RWA trading volume surging and fees burning UNI, pushing the price up. But the 7u level has been flat for too long; the protocol is clearly profitable, but the governance hype isn't enough to support buying. The burn event was expected to lift it, but so far it only serves as bottom support logic, not a short-term rally trigger.
Conclusion: PEPE and TRUMP are not suitable to catch right now; if you want to catch, wait for either volume surge or new narrative—without either, don't act. UNI is unlikely to rise unless the distribution mechanism truly changes.