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Miners earned 1.12 billion in September, but the hash rate is still declining
A set of numbers with a big contrast.
Miners' total revenue in September was about 1.12 billion USD, the highest since January, 11% more than August's 1.008 billion. The reason is simple: the coin price rose from over 60,000 to around 80,000, while difficulty only increased by about 6%, so the extra price difference all went into miners' pockets.
On the other hand, the hash rate hasn't returned to its peak. The 7-day average at the beginning of October was about 945–983 EH/s, nearly 20% lower than the peak of 1110–1160 EH/s in November 2025. Difficulty is around 132.72T, 15% lower than the historical high of 155.97T.
Why is no one deploying new machines? Two words: electricity. Public mining companies moved about 75 EH/s from the network in the first half of this year to AI and high-performance computing hosting, signing long-term contracts worth over 70 billion USD, and plan to move another 35 EH/s before 2027. Once mining farms allocate power and facilities to AI, even price increases can't bring them back.
This is actually a hidden support for the coin price: no increase in hash rate = lighter new selling pressure. The block rewards per T are higher than a year ago; old miners that survive this round can continue, while weaker ones have been pushed out by AI. The chain's health is better than the candlestick chart looks.🍊👉HYPE is currently trading around $91 to $93, with a volume surge of over 15% in the last 24 hours.
The contract trading volume is $13.47 billion, while spot volume is only about $1 billion, and open interest has increased to $4.02 billion.
This rebound is driven by leverage, not by spot buying demand.
Technically, it is a "correction period after a volume breakout." The price has risen above the dense MA5 and MA20 zone at $91.8, with moving averages forming an early bullish alignment. The RSI is between 62 and 65, not yet in the overbought zone. However, the MACD histogram remains negative (-0.3048), and the daily-level death cross above the zero line has not been repaired yet, indicating a clear gap between momentum indicators and price movement. The first strong resistance above is in the $94 to $98 range, with the upper Bollinger band at $96.83 acting as the immediate ceiling; if $91.8 support fails, the next structural support is at $87.65. The most noteworthy news is the standoff of "small money withdrawing, big money accumulating." The ETF side is indeed cold: HYPE-related products saw an outflow of $9.4 million in early October, and the spot ETF has had no net inflow since October 6. Meanwhile, the protocol itself continues to buy back and burn tokens, with a cumulative burn of 49.87 million tokens, accounting for 4.99% of the maximum supply. In the past month, the protocol's revenue was about $63.94 million, ranking first among all protocols. The price pushed up by contract volume needs spot trading and ETF inflows to sustain; if it is just leverage moving, a pullback to $91.8 or even $87.65 is not surprising. Coinbase holds $299 million in Bitcoin, a signal more stable than ETFs
The same PA Daily report contains even stronger data: Coinbase increased its Bitcoin holdings by $299 million in Q3.
Don’t confuse this with the $488 million outflow from ETFs. ETFs represent secondary market fund flows that can reverse in a day or two; coins on a public company’s balance sheet reflect quarterly-level actions and won’t be sold just because prices fluctuate this week. Coinbase is one of the few public companies that "both facilitates trading and holds coins itself," so its accumulation is closer to a business decision: no matter how volatile the fee business is, it still prefers to convert cash into BTC.
Looking at institutional holdings together, the picture becomes clear:
Strategy: 848,517 coins, cost $75,400, current price only about 2% above cost
Spot BTC ETFs: cumulative net inflow of $61.38 billion, accounting for 6.71% of market cap
Coinbase: added $299 million in Q3
On one side, ETF short-term funds are withdrawing; on the other, the public company’s long-term position is still increasing. This kind of "short-term cold, long-term hot" divergence usually appears during correction phases rather than end phases. Of course, the premise is that interest rates don’t continue to hawkishly rise—if there is a 50 basis point hike in December, long-term funds will recalculate their positions.Strategy stopped buying coins and turned to repurchase 200 million preferred shares
Strategy's 8-K filed on October 26: From October 19 to 25, no Bitcoin was bought or sold, and the ATM share issuance was also halted. Holdings are locked at 848,517 coins, just over 4% of the total 21 million, with an average cost of $75,446, totaling about 64 billion.
Where did the money go? $204.9 million was used to repurchase 2.07 million STRC preferred shares, and the company's cash dropped from $447 million to $242 million, almost a one-to-one correspondence. Note that its $4.83 billion "reserve" remained untouched; that is specifically reserved for paying preferred stock dividends and debt interest.
The interpretation of this news is crucial. STRC has an annual dividend of 12%, with interest rates hovering around 4%. The financing cost of this type of preferred security is a fixed expense. Seller chose to pay off the "expensive interest" first rather than continue accumulating coins, indicating that the financing window has become more costly.
Some in the market interpret this as bearish, but I think it's not that simple. They didn't sell coins, just paused for a week, and historically have paused several times. What really needs attention is: as long as the ATM remains closed, the world's largest "certain buy-side" is cut off. At the scale of 848,517 coins, if they don't buy for a day, the market loses a rigid demand of several hundred BTC.BlackRock's Bitcoin spot ETF (IBIT) traded $5.2 billion today, entering the top ten ETF trading volumes in the US. This news might be easily dismissed as just a market footnote, but it actually represents a slice of the structural change in the Bitcoin market.
First, let's look at what it means. The top ten ETF trading volume list has long been dominated by familiar names like the S&P 500 index funds, Nasdaq ETFs, and Russell 2000, backed by pension funds, insurance money, and retail investors across the US. A Bitcoin product launched only in 2024 breaking into this list shows that Bitcoin is no longer just a niche position in "alternative assets"; it has started competing for the same mainstream broad-based trading flows.
Next, why is trading volume a more important metric than size? Assets under management (AUM) only indicate that some investors are willing to hold long-term, while trading volume shows active daily buying and selling. With dense secondary market trading, market makers can be supported, creation/redemption arbitrage can operate efficiently, and the spread between primary and secondary markets narrows. The result is faster price discovery, smaller intraday premiums and discounts, and Bitcoin's pricing power shifting from offshore exchanges to regulated US stock markets.
For holders, this is not an abstract narrative. The deeper the liquidity, the harder it is for price spikes to occur, the smaller the slippage on large trades, and the lower the risk of being dragged down by a single platform during extreme market moves. Bitcoin is being transformed into an asset "that can be conveniently bought and sold within brokerage accounts," and this transformation process is more worth watching than the price itself. 10.8 billion options just settled, but volatility is about to wake up
The batch of BTC options settled on Deribit at 08:00 UTC on October 30 had a notional principal of about 10.8–11 billion USD, accounting for nearly one-third of the platform's open interest.
The position structure is very skewed: out of 135,500 contracts, 87,400 are calls and 48,200 are puts. A large number of call options are clustered at 90,000, 95,000, and 100,000 strike prices, while the current price is 77,000, making most of them worthless. About 70% of the Gamma is concentrated in the narrow band between 75,000 and 82,000.
Why say "more jittery after settlement"? As options approach expiration, market makers hedge by placing opposite orders in the spot market, effectively putting a leash on the price. Once the leash breaks, the Gamma supply disappears. OrbitMarkets' view is that many option sellers will wait until the November 3 election results before reopening positions, leaving a "gap with no one suppressing volatility" in the meantime.
The max pain point is near 76,000, and the December quarterly contract has shifted to 75,000. In plain terms: before settlement, the price was pulled toward 76,000; after settlement, that force is gone. Combined with the election, volatility in the first week of November is very likely to be higher than in October. For those trading contracts, it's wise to reduce leverage these days.ETF ran off 488 million in one day, all twelve in the red
SoSoValue released data this morning for October 30 Eastern US time: US spot BTC ETFs had a net outflow of 488.4 million USD, all twelve, none with net inflow.
The top was IBIT, with 290.9 million out in one day, but it still has a historical cumulative net inflow of 65.05 billion, a solid base. Second was ARKB, with 65.62 million. The total net asset value of the entire sector is 143.94 billion, accounting for 6.71% of BTC's total market cap, with a historical cumulative net inflow of 61.38 billion.
Zooming out is even more interesting. On October 29, there was still a net inflow of 17.07 million, marking the fourth consecutive day of inflows, looking like a turning point; but on the 30th it flipped directly to -488 million, and it was a "non-discriminatory redemption." What does this indicate? Institutions are not picking targets, they are cutting risk exposure (beta).
One more overlooked point: on the same day, Solana spot ETFs had a net inflow of 37.33 million, the third consecutive day of inflows; Hedera's HBR had a single-day inflow of 29.9 million, a new listing high. The money hasn't left crypto; it has shifted from large caps to small caps betting on elasticity. This kind of "internal relocation" usually occurs in the mid-stage of a bear market, not a bottom signal, nor a crash signal, but funds searching for the next narrative.The Fed's hawkish stance this time was voiced by three people together
Result of the October 28 FOMC: interest rates locked at 3.75%–4.00%, with 10 votes in favor and 2 against. The dissenters, Cook and Harker, both wanted to raise rates by another 25 basis points on the spot.
What really unsettled the market was the tone of officials in the following two days. Dallas Fed's Logan said today (October 31): at least two more hikes of 25 basis points each, totaling 50 basis points, then pause to observe the effects. Former Vice Chair Ferguson was even more aggressive, saying a 50 basis point hike in December "is possible," and even warned that "if there is no hike in December, the market will sound the alarm."
Looking at the data explains why they are so tough: September PCE year-over-year at 3.6%, month-over-month +0.5% (the largest single-month increase since March), core PCE rose from 3.0% to 3.1%; Q3 GDP annualized at 3.4%, stronger than last quarter's 2.2%, initial jobless claims at 194,000. The economy is not cooling, inflation is not falling, and the Fed has no reason to cut rates.
CME pricing: the probability of a 25 basis point hike in December is fluctuating between 75% and 85%. For the crypto space, this is more important than any on-chain news— as long as this probability doesn't drop, Bitcoin's valuation ceiling cannot rise.Conclusion first: This round of decline basically has no causal relationship with Binance being hacked 😎
From a technical perspective, $BTC's main players have significantly reduced their positions around 87,000. Since a lot of coins were sold at the high level, a short-term pullback to 83,000 or 80,000 to buy back leaves limited arbitrage space, which doesn't quite fit the main players' logic. The trend can be compared to January 2023: after a sharp initial bull run, there was a deep second wave correction, and this time the rhythm feels similar 📉
From a news perspective, many attribute the big drop to Binance being hacked, but it actually has little to do with it. Recall the bottom near 74,000, when tariffs, trade, and other negative news were released intensively, more like creating panic to make retail investors hand over their chips. The market often shows signs of bottoming or distribution before the news breaks; by the time the news is announced, bots have already acted, and the news is often used by main players to disturb sentiment 🧠
In short: the "news" you already know is often not really news 🤔#美国9月核心PCE升至3.1%，加息预期仍高 #OKX、ICE与Trade.xyz联手，推动永续合约进入美国合规市场 #加密行业协同守护资产安全 77,000 Bitcoin, this time being pressed down by the US dollar
First, today's numbers: BTC is hovering around 77,300, with daily highs and lows roughly 80,850 / 76,280, down more than 3% in 24 hours, the weekly chart has shown three consecutive declines, and it’s still negative since the start of the year, down about 11%.
Contrary to many people's intuition, this round of sell-off is not due to problems within the crypto circle itself; it's assets on the same rope being sold together: Intel dropped more than 25% overnight, Nasdaq futures plunged 2.5% intraday, gold and silver were hammered, while crude oil surged to 114 dollars. Bitcoin’s correlation with tech stocks now is much stronger than with the "digital gold" narrative.
The key lies in the old saying: when interest rate expectations change, Bitcoin takes the hit first. It is a purely speculative, non-yielding asset; as nominal interest rates rise, the opportunity cost of holding it becomes genuinely more expensive. So don’t hedge macro risks with "halving" or "scarcity"—these two factors are not even in the same league at the 77,000 level.
In the short term, watch two levels: 76,100–76,400 is the only current cushion; if it can’t hold above 78,400, any rebound is considered weak. The fear and greed index has dropped to the 30s, the fear zone. At this time, the most costly thing isn’t losing money, it’s getting hit back and forth with 5x leverage.$BTW 10x, 115% unrealized profit, don’t rush to calculate how much more it can drop, calculate how much you have left if it reverses 10% — about only 15% remains. Short positions profit from declines, but the fear is an oversold rebound; for small coins like BTW, a single high-volume long lower shadow candle can wipe out most of the profits.
AMA fell short of expectations, funds withdrew, news triggered the move, the market verifies it. Now that the news has landed, it’s often the start of expectation fulfillment and shorts taking profits; those small rebounds in the unrealized profit curve are reminders.
My first move is always to reduce positions and lock in profits, pocketing principal and the bulk first, leaving the rest as profit positions; a rebound won’t hurt much. If volume picks up and the price stops falling or returns to the launch zone, I exit immediately, no attachment to the fight. $BTC $ETH #OKX、ICE and Trade.xyz join forces to promote perpetual contracts entering the US compliant market Last night, the "Bear A" who was silenced by ridicule in the group made a comeback today with a cliff-like plunge. SanDisk ($SNDK) went from being bearish at the controversial 1000 level to a global tech stock sell-off triggered by disappointing earnings from Google and Samsung. The plot twist was so fast that the entire "Brother 800" fan group escalated from a war of words to a public challenge. 💥 What’s truly intriguing is not the emotional outburst in the group, but the speed of the market narrative shift. Last night, SanDisk surged strongly, the Bull B camp was confident, and Bear A was repeatedly attacked but remained silent, like Goujian enduring hardship while waiting for the right moment. Today, Google’s Q3 revenue grew but net profit declined and earnings per share missed expectations, combined with Samsung’s weak performance, the tech sector’s confidence instantly collapsed, and SanDisk plunged accordingly. Bear A exploded completely, crazily tagging Bull B, with such fierce words that even the group owner @Brother800Finance had to step in to mediate but couldn’t calm things down, eventually even publicly sharing an address for a fight. There is a signal many overlook here: when the bull-bear conflict in a retail group becomes so intense that it requires a "public address" to settle, it often means emotions are near an extreme, while the fundamental bearish factors (Google’s profit decline, Intel’s Q4 guidance below expectations) are the real pricing drivers. The plunge of $SNDK is not an isolated event but a microcosm of the tech sector’s collective valuation cuts during earnings season. The bulls’ strength last night was more like emotional inertia rather than trend confirmation; the bears’ silence was waiting for a macro catalyst—the earnings season’s profit quality cracks. My judgment is: in the short term $SN SOL is currently trading around $95, having stepped down from above $103 this week, with a decline of nearly 7%. It has broken below the $100 psychological level and is testing the 200-day EMA at $98.36. Technically, it is "oversold but not reversed." The RSI is between 33 and 35, close to the oversold line but not crossing it; the Stochastic %K and %D are at 10.78 and 8.62 respectively, deeply in the oversold zone. Selling pressure is indeed slowing down, but oversold conditions can persist for a long time in a downtrend, and oscillators alone do not signal a reversal. The MACD histogram is precisely at zero, with the fast and slow lines converging at -2.64. Bearish momentum has stalled, but there is no sign of a bullish crossover—direction is still undecided. The resistance above at $103.85 is a strong weekly-level barrier, with the 50-day EMA at $105 forming a second ceiling; below, $95 is the most immediate support line, and breaking it could lead to $92 or even $90. The most uncomfortable news is that fundamentals and price are completely misaligned. The Alpenglow upgrade was implemented on October 21, confirming a reduction in latency to 150 milliseconds; Q3 staking volume set a record at 441 million SOL, RWA locked value surged to $5.19 billion, and active addresses increased by 52% after the upgrade. However, funds are withdrawing: the US SOL spot ETF saw outflows of $24.8 million from October 27 to 28, the largest single-day outflow since December 2025, ending a 14-week streak of net inflows on a weekly basis.$ACU I'll be straightforward, the ACU order book here makes me shake my head. Outside it's as quiet as a graveyard, inside it's dog-eat-dog with fur flying everywhere, the 0.1175 level is being forcibly pulled up, but the volume just doesn't match, damn it, isn't this just a manipulative trader holding a sickle waiting for someone to take the bait💀
The candlesticks look lively, but it's all just funds flipping back and forth, with selling pressure layer upon layer above, chasing in is just handing over profits to them. I've seen too many of these quiet setups, the faster the pump, the harder the crash, the shakeout always starts by giving you a little sweetness.
My plan is simple: short near 0.1175, set stop loss at 0.1220, target first at 0.1080, if broken then look lower. Don't be greedy, don't hold on, take profits when you can.
If you want to follow, click the card below to check the order book, don't come asking me if you can chase later🔥 Whether you follow or not is your own risk.
The above is just my personal opinion, not investment advice. Cryptocurrency is highly volatile, please make decisions cautiously.
👇👇👇ZEC is currently trading around $1,220 to $1,260, down about 26% from the late September high of $1,698, but repeatedly supported around the $1,200 to $1,220 range. The technical outlook is mixed. The daily MACD has just formed a golden cross, the histogram turned positive, RSI has returned above 50 and is above the moving average, marking the first time since October that daily momentum no longer points downward. However, short-term cycles are not cooperating: the price is stuck below the MA20 at $1,280, MA5 remains below MA20, and the 4-hour MACD histogram stays negative. The $1,280 to $1,300 range is the first resistance ceiling, $1,350 is the neckline; only a volume-backed break above these levels can target $1,400 to $1,500. On the downside, a daily close below $1,200 would open the next buffer zone at $1,150 to $1,180. The most interesting news is that bearish whales are retreating. The number of bearish whales dropped sharply from 212 to 124, their positions shrank from $135.7 million to $76.9 million, with the average cost already breached by the current price, indicating passive position reduction. Smart money long positions have flipped to 78%, while retail longs are only 39%, showing whales turning bullish ahead of retail lagging behind. There is about $18.3 million liquidation cluster between $1,442 and $1,463, which is more attractive than the downside. On the ETF front, Grayscale ZCSH still saw a $14.8 million net inflow in a single day, but weekly inflows have clearly slowed. The NU7 upgrade is scheduled to activate around November 5, cutting block time from 75 seconds to 25 seconds, but the positive impact itself also carries short-term risk. The daily close direction at $1,280 is more honest than any single indicator.Review｜Only 60 left, $10 away 😬
Big Bro Maji's ETH long position is now stuck right at the liquidation line: 60 coins, liquidation price $2,233.56; at 08:12 the current price is about $2,243.6, leaving only about a $10 buffer.📉
At 08:09 he first cut 8 coins at an average price of $2,243.5. This is the first proactive reduction after last night's chain liquidations—not adding, but stepping back.✂️
The trade records are even more heartbreaking: last night from 22:53 to 00:09, he added 122 coins between $2,342–$2,375, pushing the long position to 422 coins; after selling 2 coins at 01:47, from 02:31 to 04:34 four liquidations cleared 420 coins, and at 04:34 one liquidation exploded 215 coins.💥
At 04:38 he reopened about 100 coins at $2,301.6, but from 04:43 to 04:47 about 36 coins were liquidated again. Six liquidations overnight totaled about 456 coins, with a real loss of about $26,400. The account now only has about $3,200 left.📉 Yesterday morning, he still had 475 coins with a liquidation price of $2,314.
From 422 down to 60, it’s not that the market didn’t give chances, but the leverage didn’t allow room for error. These 60 coins now are not holding a direction, but a $10 heartbeat. Can he hold through today? 🤔The screen is full of green, and the most common question in the background is just two words: bottom fishing. Can you still get on board $BTC here?
Here's a counterintuitive reminder: the real bottom is hammered out with volume, not slowly ground out with a silent, gradual decline.
In the current market, the price is falling, but the trading volume has dried up to almost nothing, and the panic index is lying flat. This looks more like sellers wearing down buyers at a high level until they're exhausted, rather than a swift panic sell-off. "Not falling" can mean two things: either the price has hit the bottom, or the real panic selling hasn't started yet. These two look similar but have outcomes that differ by a huge margin.
I'd rather wait for a volume-backed lower shadow candle to confirm than guess when that spike will come down. Are you already bottom fishing, or like me, waiting for that volume-backed spike?Bitcoin’s push above $81,500 is being framed as a PCE story, but the more important catalyst sits on tomorrow’s calendar. After a week of drifting around $80,000, $BTC finally broke higher as institutions positioned for corporate financial statements that will expose marked-to-market gains on large treasury holdings. PCE was the spark; earnings are the fuel. That distinction matters because it shifts attention from macro data to balance-sheet disclosure, where the market can finally price the sc$ATOM ATOM Strategy Formulation: Under the premise of existing high-yield staking positions (Part One)
Most ATOM enjoys annualized returns in "earning coins," which means the time cost is continuously hedged by interest. According to the previously discussed annualized level, holding coin-denominated assets for one year increases by about 18%. This structure determines that the core of the current strategy is not "whether to cut losses," but how to manage risk with rules rather than making decisions based on emotions.
First, set a clear observation bottom line. 1.50 is the most important short-term psychological and technical threshold, as well as the upper edge of the historical demand zone. If the price breaks below 1.50 with volume and cannot recover within the day, the next structural reference is in the 1.30–1.35 range. At that time, a serious assessment is needed: can you withstand the price further dipping to the 1.30 area while extending the holding period by several months? If not, reducing part of the position after losing 1.50 is a reasonable risk control action.
Second, do not panic sell near 1.50, nor blindly add positions during a bearish alignment. The direct driving forces of the decline are leverage liquidations and macro risk aversion, which tend to release intensively in the short term. Chasing dips in oversold areas has a very low cost-performance ratio. Currently, all moving averages for ATOM (SMA7 1.66, SMA200 1.71, SMA50 1.74) form resistance above the price. The first hurdle for any rebound is between 1.60–1.66. Before volume recovers this area, adding positions is like "catching a flying knife."
#加密行业协同守护资产安全 Intel dropped 28.58% in one day, the worst trading day in forty years. But the real story isn't about Intel itself.
This week, Google's and Amazon's earnings reports were repeatedly questioned on the same issue: when will the massive capital expenditures poured into AI finally pay off? The Philadelphia Semiconductor Index fell 7.2% in one day, with chip stocks losing nearly one trillion US dollars in market value.
In the past two years, the narrative "as long as you spend heavily on AI, the stock price will rise" has dominated. This week, the market collectively paused to do the math. Switching from a "growth story" to an "ROI interrogation"—this is not just a correction, it's a shift in pricing logic.
I'm bearish on this chain, betting on this shift rather than just the few points it dropped today. Do you think this is a golden opportunity, or is the story starting to collapse? Bullish Borrowing Observation | Leverage Concentration, Increased Volatility Risk
Long borrowing of $BTC, $ETH, and $SOL all rise simultaneously, with bullish leveraged positions clearly crowded; prices, however, weaken in sync, forming a "falling while adding" pressure structure, amplifying short-term volatility and concentrated liquidation risks.
Borrowing Data
$BTC: Long borrowing volume 1363.3 BTC, short borrowing volume 73.05 BTC
$ETH: Long borrowing volume 16,800 ETH, short borrowing volume 742.8 ETH
$SOL: Long borrowing volume 110,700 SOL, short borrowing volume 3,085.99 SOL
Core Analysis
The long borrowing scale of the three major coins far exceeds the short side, with leveraged funds biased toward longs. However, prices have not strengthened accordingly but continue to weaken, indicating bulls are adding positions during the decline, putting pressure on the market. This structure tends to amplify short-term volatility, and once key support is broken, it may trigger bullish stop-losses and concentrated liquidations, causing spike-like price moves.
Macro Background
The US September core PCE rose to 3.1%, keeping rate hike expectations high. Risk assets are generally under pressure, which is unfavorable for high-leverage bulls to sustain their positions.
This is only an observation of market data and does not constitute any investment advice. Pay attention to position sizing and risk control. #美国9月核心PCE升至3.1%，加息预期仍高 #OKX、ICE与Trade.xyz联手，推动永续合约进入美国合规市场 Quantum resistance protects against quantum computers cracking on-chain signature cryptography; exchange custody theft is due to centralized platform permissions, operations, and hot wallet internal control failures. These two risks are independent; quantum resistance cannot make exchanges "bulletproof."
This time, STRK was stolen along with assets inside Binance, not because Starknet's quantum-resistant underlying layer was breached, but because assets in the exchange's custody accounts were stolen.
1. In the environment where exchanges are insecure and frequently hacked, does quantum-resistant coin still have value?
Answer: It still has value, but it cannot solve the "counterparty risk" of exchange custody. The value applies to different scenarios.
1. Quantum resistance protection boundary: protects on-chain self-custodied assets
When you withdraw STRK to a wallet you control (private keys held by yourself), relying on STARK hash-based underlying technology, account abstraction, and future independent L1 full-chain post-quantum solutions, it defends against the long-term cryptographic risk of future quantum computers using Shor's algorithm to reverse-engineer public keys and steal on-chain assets.
Its security is at the mathematical cryptography level.
2. Once assets are placed on an exchange, control is handed over to the platform
All tokens inside an exchange, whether BTC, ETH, or quantum-resistant coins like STRK, are managed uniformly by the exchange's custody private keys and hot wallet permissions. If hackers gain exchange operational permissions, breach the backend, and obtain the platform's custody private keys, the blockchain only executes a normal transfer — this transaction is a valid signature on Starknet and the chain itself will not block it.
In other words: the chain's cryptographic defenses remain intact, but you have handed the keys to a third party, and their safe has been broken into.
3. The value positioning of quantum-resistant coins requires adjusted expectations
✅ Long-term value: suitable for self-custody and native on-chain use to avoid future quantum cryptography crises;
❌ Cannot promise: assets placed on exchanges will not be stolen.
Exchange security is a separate risk control system (permissions, hot/cold separation, internal controls, audits, SAFU fund) unrelated to whether the underlying chain is quantum-resistant.
Even native quantum-resistant coins share the custody vulnerabilities of exchanges once deposited there.
2. Four key points revealed by STRK being stolen in the Binance hack
1. STRK's quantum resistance narrative does not cover custody risk, and many confuse this security boundary
Many mistakenly believe: quantum resistance = completely theft-proof. This incident directly disproves that: quantum resistance ≠ immunity to hacking or centralized custody failures. STRK's advantage is on-chain cryptographic security, not exchange operational security. Hackers did not break the STARK proof system but the exchange custody system.
2. As long as assets are stored on centralized platforms, all tokens are treated equally with no privileges
BTC, ETH, STRK, WLD in exchange hot wallets are all ledger entries on the platform. After hackers succeed, they will transfer all token types out, mix them in batches, and sell. STRK's weaker liquidity makes it prone to being dumped first, causing additional selling pressure.
3. The main track should be divided into two independent risk lines
One is the [quantum cryptography risk line]: BTC and ETH's underlying elliptic curves have long-term vulnerabilities; STRK differentiates by adopting a post-quantum route;
The other is the [centralized custody risk line]: all tokens placed on exchanges share this risk, which no public chain technology currently can eliminate.
Quantum resistance solves the first but not the second.
4. It also highlights the correct usage of quantum-resistant assets is self-custody outside exchanges
Starknet's account abstraction is designed to facilitate users switching to quantum-resistant signatures and controlling their accounts. Its security benefits are fully realized only when assets leave exchanges and private keys are held by users themselves. The long-term logic of this track is based on on-chain self-custody, not exchange custody.
3. Extended reflection: does this diminish the significance of quantum resistance?
No, it just cannot be treated as a universal insurance.
The future crypto world actually faces dual risks:
① Quantum risk (slow variable, long-term cryptographic nuclear threat, BTC/ETH's biggest weakness)
② Custody hacking risk (fast variable, can erupt anytime, common to all exchanges)
STRK's route addresses ①; currently, no public chain technology can eradicate ②.
A safer future approach: to gain quantum resistance benefits while avoiding exchange theft, reduce long-term asset storage on exchanges and use native wallets for self-custody. However, self-custody introduces new barriers: private key loss, phishing, malicious contract risks, raising the user threshold.
4. Summary
Exchanges are frequently hacked; quantum-resistant coins still have unique long-term value but with clear boundaries;
The Binance hack involving STRK theft is not a failure of STRK's underlying technology but clearly delineates:
Underlying chain quantum resistance = on-chain cryptographic security; exchange custody = third-party safekeeping, a counterparty risk. These are two independent security systems and cannot replace each other.Another oil tanker hit a mine and exploded in the Strait of Hormuz today, marking the fourth and fifth incidents in the past few days. The atmosphere of war couldn't be more intense.
According to retail investors' muscle memory, what should you do at times like this? Buy gold, buy $BTC for hedging. But the reality is: gold fell below 3900 today, stocks, chips, and crypto all dropped together, and no one managed to hide in so-called safe-haven assets.
The reason is simple. When the market is deleveraging and chasing margin calls, people don't sell what they most want to sell, but what they can sell. Even gold has to be sold to cover margin gaps. This is not a safe-haven market; it's "selling whatever can be sold."
So stop reflexively thinking "buy crypto when there's a war." First, distinguish whether it's panic buying or forced selling before discussing the direction.$CRCL CRCL: Concentrated release of bearish sentiment, waiting for oversold recovery near the lower Bollinger Band
CRCL four-hour current price is 72.52, down 4.26% intraday, price retesting near the lower Bollinger Band at 72.28, with short-term selling pressure being released.
From a technical perspective, the price continues to be pressured below all short-term moving averages EMA10, EMA15, and EMA30, with the moving averages turning downward synchronously, layering pressure on the price, indicating an overall weak trend. After a continuous rapid decline, short-term bearish forces are concentratedly released, entering an oversold zone, indicating a need for recovery.
The news is the core trigger for this round of decline: Circle announced the gradual phase-out of CCTP V1, reducing the cross-chain limit of this old version starting October 31. CCTP is the exclusive protocol for USDC cross-chain transfers; many on-chain projects and institutional funds have long relied on CCTP V1 for large USDC transfers across various public chains. The market fears that after the limit reduction, USDC cross-chain convenience will decrease, on-chain liquidity will shrink, and funds will preemptively hedge by selling CRCL.
But the essence must be distinguished: this is only a protocol version iteration, not a problem with USDC redemption. Future cross-chain demand will migrate to the new CCTP V2, which has a higher performance ceiling. This decline is driven more by panic sentiment rather than a long-term deterioration of Circle's fundamentals.
71.20 is a key short-term support low; if this level holds, an oversold rebound is expected, with the first resistance at 75.59.
The rebound is only a short-term corrective move, with strong resistance from the moving averages above.Why did $ATOM drop yesterday: Fourfold pressure converged at the same time
The core background is the "drain effect" of macro interest rates. The 10-year US Treasury yield hit 5.3%, and the 30-year reached 5.70%, the highest since 2002. The risk-free return is extremely attractive, so funds naturally withdrew from high-volatility assets like Bitcoin. Meanwhile, the Federal Reserve maintained rates with a 10:2 vote, with two members advocating for a rate hike, and the probability of a December hike once surged to 85%.
The spillover impact of tech stock earnings amplified the panic. Google's earnings missed expectations, capital expenditures surged, free cash flow turned negative, and the stock price plummeted 12.64% in a single day, dragging down the entire tech sector. Crypto assets and tech stocks are both high-beta risk assets, so risk-off sentiment was directly transmitted along the risk asset chain.
The Binance security incident was the fuse that ignited sentiment. The market reported that Binance froze over $2.5 billion in assets due to a security vulnerability. At a fragile macro node, any doubts about the security of centralized platform assets are sharply magnified.
Leveraged chain liquidations were the final amplifier. In the past 24 hours, about $774 million was liquidated across the network, with 89% being long positions. As an altcoin, ATOM's liquidity is naturally weaker than BTC/ETH, so when long leverage is concentratedly liquidated, the drop is naturally deeper—this explains why ATOM dropped 7.65% in your screenshot, while BTC "only" dropped 4.10%.
#美国9月核心PCE升至3.1%，加息预期仍高 Two hot wallets tied to a single exchange moved roughly $3.3 billion in consecutive transfers, and the market repriced risk before anyone could confirm what had actually happened. The first leg sent about $2.5 billion — 167,500 $ETH plus more than $1.6 billion in wrapped stablecoins — to fresh addresses. A second wallet followed with $780 million. On-chain estimates put total outflows near $5.6 billion. The forensic details matter more than the headline number. Funds at the originating address cWhy $ATOM dropped today: Fourfold pressure converging at the same time
The core background is the "drain effect" of macro interest rates. The 10-year US Treasury yield hit 5.3%, and the 30-year reached 5.70%, the highest since 2002. The risk-free return is extremely attractive, so funds naturally withdraw from high-volatility assets like Bitcoin. Meanwhile, the Federal Reserve maintained rates with a 10:2 vote, with two members advocating for a rate hike, and the probability of a December hike once surged to 85%.
The spillover impact of tech stock earnings amplified panic. Google's earnings missed expectations, capital expenditures surged, free cash flow turned negative, and the stock price plummeted 12.64% in a single day, dragging down the entire tech sector. Crypto assets and tech stocks are both high-beta risk assets, so risk-off sentiment directly transmitted along the risk asset chain.
The Binance security incident was the fuse that ignited sentiment. The market reported Binance froze over $2.5 billion in assets due to a security vulnerability. At a fragile macro moment, any doubts about centralized platform asset security are sharply magnified.
Leveraged chain liquidations were the final amplifier. In the past 24 hours, about $774 million was liquidated across the network, with 89% being long positions. As an altcoin, ATOM's liquidity is weaker than BTC/ETH, so when long leverage is concentratedly liquidated, the drop is naturally deeper—this explains why ATOM dropped 7.65% in your screenshot, while BTC "only" dropped 4.10%.
#OKX、ICE与Trade.xyz联手，推动永续合约进入美国合规市场 Hawkish data landed, the probability of a rate hike in December has risen to nearly 80%. What truly has depth in the thin market is the orders hanging below.
$BTC around 77,000—77,600. A counterintuitive point: if the lower level 76,707 is touched, the long position adjustment strength is about $1.9 billion; on the upper side, only at 84,705 is there a $1.362 billion short position level, the closer and thicker side is below. Before closing above 78,000, any recovery is just a recovery.
$ETH around 2,210—2,250. A certain giant whale holding 93,000 ETH longs was forced to reduce 36,500 ETH to avoid liquidation, with cumulative losses exceeding $38 million. The new liquidation prices are set at 2,122 and 2,129. 2,200 is the nearest psychological defense line now; if it fails, 2,122 will come into view.
$SOL around 97—100. The whale sold 1.02 million tokens in five days, ETF outflows reached 19.16 million in a single day. 99.38 is the gate for long position adjustments, and 100 dollars is hanging by a thread.
In one sentence: 4 AM is not a directional window but a pressure test at key levels after hawkish data release. BTC watches 76,707 and 84,705, ETH watches 2,200 and 2,122, SOL watches 99.38—whichever side is first swept in the thin market will speak first.
For market scenario analysis only, not investment advice.
#美国9月核心PCE升至3.1%，加息预期仍高 $BNB
Binance says it has recovered about 80% of the stolen funds, is this matter considered closed?
The timeline is being pushed forward. Originally, He Yi said withdrawals would resume in 42 hours, now the statement has changed to phased recovery within 34 hours, plus an additional point: a first reserve proof snapshot within 12 hours. The action is really fast, but fast doesn’t mean clear explanation—how much of the recovered money was SAFU’s own contribution and how much was truly retrieved is not detailed in the announcement. On the same day, Trump said an investigation is underway to see if North Korea was involved. Once the nature is confirmed, whether the laundered money can be recovered is another story.
On the price side, BNB is currently at 699, sliding down from 737 in 24 hours, with a low of 677. Binance’s own order book shows 700 and a low of 677, which matches. The fee rate is still negative at -0.5bp, shorts haven’t exited; open interest is 86,800 tokens, about $60.7 million, slightly more than yesterday—despite the drop, no one is withdrawing.
My view is that the reserve snapshot after 12 hours is the real test. If the numbers match, only then does the rebound have the qualification to be discussed further; if not, all the previous recovery is just a setup. Until the snapshot is out, I treat every step BNB rises as just a breather.
#美国9月核心PCE升至3.1%，加息预期仍高 $BTC
Breaking news says BTC rebounded and broke through 77,000, I casually checked the live price—76,828, then it fell back. It opened at 80,333 24 hours ago, touched a low of 76,260, now down 4.4%. On Binance, it's 76,845 with a low of 76,270, both sides match.
Why is the rebound weak? Just look at the Federal Reserve. Logan says at least two more rate hikes totaling 50 basis points are needed, and Moussaalem says another hike will be necessary soon. Last month the market was still talking about rate cuts, but this month officials are all tough. BTC, a liquidity-consuming asset, won’t move up without rate easing.
On the chart, the fee rate is still positive, 0.01%, bulls are still paying. Contract open interest is $2.67 billion, not much shrunk from before the drop. This shows these people neither fled nor panicked, just no one is willing to push it up.
I’ve gotten used to being proven wrong when writing about rebounds these days. I say wait to stand firm, but my hands are quicker than my brain, which has happened before. This time, I’ll keep my hands in my pockets first.
#美国9月核心PCE升至3.1%，加息预期仍高 $BTC Historical Pattern Verification 1: Past exchange hacks in the crypto market (such as Binance losing 7000 BTC in 2019 and Bybit losing $1.5 billion in 2025) only caused short-term price fluctuations lasting 3-7 days, ultimately reverting to the macro and industry main trends at the time, without reversing the mid-to-long-term trends of BTC and ETH.In the tug-of-war arena of cryptocurrency bulls and bears, a $660 million perpetual contract short position has torn open the iceberg tip of top traders betting on a market reversal. This full-position short portfolio spans the three major mainstream assets BTC, ETH, and SOL, with each set of numbers hiding an extreme bet on market direction.
Using a layered allocation approach, the chips are not all bet on a single coin.
The BTC short holds the largest value proportion at $180 million, with 2,319.6 bitcoins shorted at a price of $76,366.1. A 5x full-position leverage paired with $35.887 million margin makes it the core ballast of the entire portfolio.
The ETH short follows closely, with a position value of $230 million covering 102,700 ETH, opened at $2,322.74. It also uses 5x full-position leverage and has already recorded floating profits exceeding tens of millions of dollars.
The SOL short acts as an elastic supplement, with a position of $65.5689 million corresponding to 696,100 SOL. The 7x leverage amplifies profit elasticity during market downturns, further enriching the portfolio's offensive capability.
Unlike most one-sided positions that must continuously pay funding fees, this short portfolio is actually collecting positive funding fees: BTC has accumulated $3.3618 million, ETH $4.3341 million, and SOL $3.8957 million in funding fee income. This means the current market bullish sentiment is extremely fervent, with many traders chasing longs continuously "paying" for this short position. Even if the market consolidates in the short term, holders can keep increasing their safety cushion through funding fees.
This seemingly meticulously arranged short position actually stands on the edge of a very high-risk cliff: BTC's liquidation price is as high as $142,255.38, ETH's liquidation price is $3,676.84, and SOL's liquidation price is $305.45. As soon as the market starts a doubling-level one-sided rally, the entire $660 million position will be forcibly liquidated instantly. In a market where extreme cryptocurrency events frequently occur, such a heavy short position is more like a high-stakes gamble. Once the trend reverses, tens of billions in capital could vanish within hours.
This position is both a projection of judgment on market overheating and a reflection of the brutal nature of the crypto derivatives market—high leverage can amplify profits but can also devour all chips in an instant.
$BTC $ETH $SOL
#美国9月核心PCE升至3.1%，加息预期仍高 #StrategyQ3 net profit hits a record high for a single quarter, with significant contributions from digital asset income. On the surface, the new FASB regulations require Strategy's BTC holdings to be measured at fair value, with BTC above 85,000 in Q3, directly calculating net profits of over a billion. But this money is "calculated," not "realized."
What is truly worth cautioning is the current timing gap. The financial report accounts for Q3, but BTC has already dropped to 77,000. This means that unless the price quickly rebounds, the Q4 report will likely record a huge paper loss. Paper profits come fast and go fast.
The more critical signal lies in their actions. In Q3, they only bought 334 BTC but spent nearly 200 million to repurchase preferred shares. Previously, they were aggressively issuing debt to buy coins; now, they are honestly paying down debt and reducing leverage. This shows management clearly understands how painful a 12% fixed dividend is when coin prices fall.
BTC is currently weak, hovering around 77,100, with resistance at 78,000 and support at 76,500. The financial report cannot save current liquidity.
The operation advice is simple: If you have a position, set a stop loss below 76,000; if you are out of position, don't catch a falling knife—wait for a pullback to 76,500 with reduced volume and stabilization before acting. Don't bet on the current bottom with past profits. $BTC $ETH $SOL Coinbase's Q3 net profit turned positive but accompanied by a 43% year-on-year decline in trading revenue, indicating that the industry's recovery relies on volume reduction and price increases rather than volume expansion, and SPCX is unlikely to be an exception. My judgment: short-term bearish bias, rebounds are opportunities to reduce positions, discipline takes precedence over bottom-fishing impulses. Currently at 135.66, down 4.7% in 24 hours, a nearly 17% drop from the high in four hours, and only 0.47% above the low in one hour, bearish momentum has not weakened. Order book buy/sell ratio is 1.23, buyers slightly dominant but support is limited, funding rate at 0.0099% is neutral, open interest at 474,000 shows bulls have not surrendered on a large scale, rebounds are likely to face selling pressure. Strategy one: short at 13965 on rebound, stop loss at 14235, target 13435; strategy two: if it directly probes 13385, lightly buy, stop loss at 13215, target 13645. Single position size no more than 5%, unconditional exit upon stop loss.
— For personal reference only, not investment advice, wish you successful trading. —
$SPCX#Strategy Q3 net profit hits a single-quarter record high, significant contribution from digital asset income
#Coinbase Q3 net profit turns positive, trading revenue down 43% YoY
$SPCX #Palantir财报前瞻：高增长能否支撑高估值 #Circle财报在即，稳定币增长能否兑现收益？
CRCL (Circle) is overall judged as neutral to cautious in this earnings report, with revenue expected to continue growing, but uncertainty remains whether profits will exceed expectations. The market anticipates Q3 revenue of about $797 million and EPS around $0.40. The company's core business, the USDC stablecoin, continues to see circulating supply growth, reaching $73.3 billion last quarter, a 19% year-over-year increase, with on-chain transaction volume also significantly rising, supporting revenue growth.
However, two risks need attention: first, a Federal Reserve rate cut could lower yields on USDC reserve assets, meaning that even if stablecoin scale expands, profits may not grow in tandem; second, distribution costs and industry competition may further squeeze profit margins.
My judgment is that CRCL has a relatively high chance of exceeding revenue expectations this earnings report, but a lower likelihood of surpassing EPS forecasts. If both revenue and profits beat expectations, the stock price could gain upward momentum; if revenue grows but profits fall short, positive sentiment may be realized and priced in.
Trading inclination: cautious to bearish before the earnings report, not recommended to chase aggressively; wait for the earnings release and then decide direction based on USDC growth, profit margins, and management guidance. $ETH ETH has nearly $1.1 billion worth of short positions hanging above 2340, ready to be cleared.
During the previous downward crash, long leverage was already completely wiped out.
Now, the most tempting liquidity on the market is this batch above.
Shorts are still stubbornly holding at this level.
As long as the price brushes past 2340, the bulls don’t need to exert much effort; the shorts’ stop-loss cascade will push the market up by itself.
#ETH
$ETH
👇$SNDK Watching the market late at night, many people saw the news "SanDisk Q1 revenue surged nearly 4 times year-on-year" and frantically chased the stock, only to be directly cut down by this guillotine-like drop.
Why is the financial report so impressive, yet the market crashes so hard? The core reason is four words: expectations overdrawn. The stock price had already skyrocketed earlier, fully pricing in this perfect financial report. Once the bottom card was revealed, it all became fuel for institutions to take profits. Coupled with executive sell-offs and stock splits diluting shares, it directly triggered a chain stampede.
I never buy based on news, only on the market's real reaction. Good news failing to push new highs and breaking support is the strongest short signal. Entering on the right side of 1212.6, this +384% profit was made by killing valuation and sentiment. Last night's hacker incident triggered a big bearish candlestick, and many people can't hold back, thinking "the bad news is all out" or "Binance has got it covered," preparing to heavily buy the dip. Hold on—real danger often hides behind the most optimistic emotions.🔍 First, clarify a key misconception: exchange intervention ≠ market bottom. Holders of $BTC and $ETH need to understand that Binance and Tether have indeed frozen some funds and promised to compensate user losses, but this only guarantees "the exchange won't collapse, and your balance won't go to zero." However, the tens of billions of dollars in assets not yet frozen by the hackers can still be used as ammunition to crash the market. Selling pressure has never disappeared; it’s just temporarily dormant. What’s even more worrisome is the hackers’ "nuclear-level" strategy. They are not in a hurry to cash out—withdrawals are easily frozen and tracked. The truly clever path is: first place large short positions in the futures market, then concentrate on dumping the stolen $ETH to deliberately create panic selling. When retail traders’ 20x leveraged long positions get liquidated in a chain reaction, the hackers’ short positions reap huge profits and exit cleanly. The high-leverage longs you see betting on a rebound are, in the hackers’ script, just cash machines and liquidation fuel.💣 Now look at the current market structure: liquidity is extremely thin, ETF funds are still flowing out, and the hackers’ "sword hanging overhead" has yet to fall. In this environment, market makers and hackers can easily collude to create a "fake rebound" to lure buyers, followed by a big bearish candlestick smashing through. Playing futures now, especially going all-in, is essentially no different from going all-in at a casino. My coreFollow me, and what you will see are daily updates of real trading positions, every single fixed stop-loss price, and records of when I cut losses incorrectly that I still publish. Yesterday at 22:47, I cut my BTC long position from 30% to 12%, executed at 79,180; today's price is 76,934. This cut saved me roughly 4,100 U in losses.
Conclusion: This 4.8% move is not a trend reversal, but a leverage cleanup. $1.5 billion long positions were liquidated; such a scale of liquidation usually happens during the thinnest liquidity periods, not when macro logic shifts. The market noise from the midterm elections will be absorbed; the only truly meaningful level is 76,000 — the lower boundary of the dense trading zone over the past three weeks. My position now is only 12%, with a stop-loss at 74,600. If it breaks below, I will accept it and not hold on.
ETH dropped 4.0%, SOL dropped 5.1%, not much better than BTC, indicating funds haven't fled, just leverage has been reduced. A low-volume gradual decline is different from a high-volume crash; I tend to treat this as a shakeout rather than a turning point.
At this level, do you clear to zero and wait at 74,000, or keep 10% to bet that 76,000 will hold?
Follow me for daily public real trading positions and stop-loss logic, and I honestly report losses too.
#OKXProphet After Google's earnings report, the stock price plummeted, and AI investment returns have drawn attention. Risk appetite contraction often impacts the crypto market, but BCH is relatively strong against the trend today. My judgment is that the short-term correction is not over, so it is not advisable to short. The four-hour level is still in an upward structure, with the price rising 11% from the recent low. A 4.45% pullback on the one-hour chart is a normal digestion; the top ten order book shows 467 buy orders against 90 sell orders, with a buy-sell ratio of 5.17, clearly favoring buyers. The funding rate is only 0.01, with 78,000 coins held, leverage sentiment is moderate, and no crowding is observed. In terms of operation, lightly buy on a pullback to 286.43, stop loss at 279.85, target at 296.17; if it directly surges to around 297.63 and stalls, reduce positions and do not chase. Single trade risk control should be within 1% of total funds; exit immediately if stop loss is hit, do not hold losing positions.
——This is only a personal opinion and does not constitute investment advice. Wish you successful trading.——
$BCH#谷歌财报后股价大跌，AI投资回报受关注
#谷歌财报后股价大跌，AI投资回报受关注
$BCH Polymarket has expanded its flagship product line: the 15-minute high-speed market has extended from crypto assets to gold and silver, partnering with Chainlink, with plans to include commodities, stocks, and forex later.
Traditional prediction markets settle daily or weekly, betting on slow variables like elections and interest rate decisions. The 15-minute market compresses the cycle to the extreme, betting on where the next candlestick closes, essentially resembling binary options, relying on high-frequency price feeds and automatic settlement.
Originally covering only BTC, ETH, and similar assets, expanding to gold and silver means three things.
First, the threshold is leveled. Precious metals trade 24/7 globally, with liquidity concentrated in London gold and New York futures, which ordinary crypto users rarely access. Now, a single wallet can bet on short-term gold price fluctuations.
Second, the oracle becomes the real bottleneck. The 15-minute settlement demands extremely high timeliness and resistance to manipulation; the London gold fixing mechanism is unsuitable. This task falls to Chainlink, effectively opening an incremental demand channel for $LINK.
Third, cross-market linkage is amplified. Geopolitical conflicts and non-farm payroll data previously only affected gold prices, but now they will simultaneously impact the position structure in prediction markets.
What’s worth watching is not the new gameplay but the tokenization of gold. Tokens like PAXG and XAUT, which are backed by physical assets, will clearly benefit on-chain depth once short-term demand rises.
In short: prediction markets have evolved from betting on coins to betting on everything, with settlement authority held by oracles.Why are so many people so unintelligent to say the exchange staged this themselves? The exchange definitely suffered a huge loss. This is Twitter, not Xiaohongshu, Weibo, or Douyin. Use some brain, will you? The credit loss caused by this incident far exceeds $3 billion.
It's as ridiculous as a bunch of idiots saying I was hedging. I spent $1.4 million in fees on Binance in one year; if I were hedging, that would be $2.8 million. Doing double high-yield returns to hedge my own position on Binance is also a negative EV (expected value) activity.
Every hacker theft has its own money laundering methods. For example, a previous hacker issued a Qin Shi Huang meme on Pump to manipulate and launder money. Another hacker used stolen funds to do high-leverage long and short trades on $ETH on HL. But this hacker was indeed smart this time, knowing to predict the exchange's reaction after the theft and then dump and go long on these stolen tokens. Ordinary hackers who don't do event trading wouldn't know this path.
This hacker is smarter than the usual North Korean hackers, both in the choice of targets and in post-attack operations.The emergence of the Hormuz reopening plan has driven oil prices down, with a marginal recovery in risk appetite, but Bitcoin has not followed the rally. I tend to characterize this rebound as an emotional recovery rather than a trend reversal. The capital flow is the main driving factor currently; bulls are still absorbing during the decline but lack incremental push.
From the perspective of capital and sentiment, it has dropped nearly 5% in 24 hours, with a low of 76,260. The four-hour decline from the high exceeds 9 percentage points, indicating a clear downward trend; however, the top ten order book buy-sell ratio is 2.76, with significantly thicker buy orders. The open interest is 35,000 coin-based positions combined with a positive fee rate of 0.01%, indicating crowded longs and no overwhelming advantage for shorts yet. Bottom-fishing funds and short sellers are repeatedly tugging at the 76,000 level.
In terms of operation, aggressive traders can lightly go long at 76,480 with a stop loss at 75,930 and a target of 78,920; conservative traders can short after the rebound is resisted near 78,650, with a stop loss at 79,180 and a target of 76,700. Single position size should not exceed 20%, and if the stop loss is broken, exit decisively without holding the position.
— This is only a personal opinion and does not constitute investment advice. Wish you smooth trading. —
$BTC#霍尔木兹重开方案浮现，油价回落能否持续？
#霍尔木兹重开方案浮现，油价回落能否持续？
$BTC #CoinbaseQ3净利润转正，交易收入同比降43%
Family, today Coinbase's earnings report came out, and the data made me exclaim "Wow," it's really like ice and fire! 🥶🔥
✂️----------------------------✂️
📉 【Surface looks a bit grim】
Q3 trading revenue plunged 43% year-over-year! What does this mean? Simply put: the current market is too exhausting, retail investors are lying low and not trading, so trading volume has shrunk directly. It seems no one wants to pay fees to the market makers in this choppy market.
📈 【But the core is strong】
But amazingly, net profit actually turned positive! Where did the money come from? They no longer rely on trading fees, but on earning interest (such as interest from USDC reserves), doing derivatives, plus aggressive "cost-cutting and efficiency improvements" (meaning layoffs and shutting down unprofitable businesses) to squeeze it out.
💡 【Trading insights for us】
This is an extremely important indicator! Even the largest regulated exchange in the US has to rely on "side businesses" and cost control to maintain profits, which shows the core feature of the current market is: a zero-sum game with extremely low activity.Order Book Strength Ranking
5-minute median slippage, estimated by order book
After amplifying orders for PARTI and SNXX, both buy and sell slippage increased significantly, with PARTI showing the highest simulated slippage at the 100,000 scale.
$PARTI simulated slippage for 10,000 scale buy/sell is 0.13%/0.12%, and for 100,000 scale is 0.88%/0.79%. A sign of thin depth is simultaneous rise on both sides.
$INTW sell cost for two levels rises simultaneously. Simulated sell slippage: 10,000 scale rises from 0.14% to 0.20%, 100,000 scale rises from 0.31% to 0.62%. Depth is deteriorating, and the same order size is more expensive.
$SNXX simulated slippage for 10,000 scale buy/sell is 0.06%/0.06%, and for 100,000 scale is 0.27%/0.29%. Both sides become more expensive, so reduce volume or split orders first. The next battle for privacy coins: speed is just the ticket, experience and regulation are the real game points 🎟️
Zcash plans to launch NU7 on November 5: block time target reduced from 75 seconds to 25 seconds, Orchard theoretical throughput increased from 2.9 tx/s to 6.6 tx/s, nodes must upgrade in advance to prevent forks ⚠️. Another easily misunderstood point: 60% of transaction fees are proposed to go into the network reserve, with future releases supporting block rewards—not "burning 60%" nor halving the total supply; the 21 million cap and halving rules remain unchanged 🧾.
My observation: speed upgrades can improve payment confirmations but do not equal a surge in demand 📈. The next round of competition for privacy coins is not a choice among three, but "speed as the foundation, wallet experience for retention, and regulatory environment setting the ceiling" 🧱. Whether nodes can switch smoothly, the real usage of privacy transactions, fees and activity levels are the hard evidence 🔍. Capacity may increase but if no one uses it, TPS is just a parameter and cannot be directly converted into valuation 💡.
Which do you value more: transaction speed ⚡, wallet experience 👛, or regulatory environment ⚖️? #美国9月核心PCE升至3.1%，加息预期仍高 #OKX、ICE与Trade.xyz联手，推动永续合约进入美国合规市场 #加密行业协同守护资产安全 The crops in the field haven't been fully harvested yet, but the numbers on the ledger have already exploded. Strategy's land recorded a net income of $19.53 billion in Q3, translating to $44.75 per share, all thanks to the stockpile of that big coin — digital asset appreciation of $20.91 billion, which literally blew the granary roof off. But if you squat down and dig into the soil, the software plot actually saw a 3% drop in yield, down to 125.4 million. It's like an old farmer planting ten acres, nine of which benefited from a golden rain brought by favorable weather, while only one acre was painstakingly dug up by hand — what happens when the rain stops?
We farmers understand this best: spring plowing, summer weeding, autumn harvest, winter storage — no season is a free lunch. Strategy's bumper harvest this season is simply due to the big coin price still hanging high on the tree; the floating profit from stockpiling was cashed in as book income. But timing the weather is even harder than predicting June rains. Now that the big coin price has softened, it's like an early frost after the autumn harvest — the remaining ears in the field immediately wilt. If the price fluctuates from here on, how much of that book income will remain is a sharp knife hanging over the ledger.
Looking at software revenue, the drop isn't large but the direction is wrong. That's the livelihood dug up acre by acre from our own field — real, hard-earned income. Its shrinkage means the plow digging the soil has dulled; you can't just rely on golden particles falling from the sky. I often say, stockpiling grain is a patience game, but the granary must be built on a solid, compacted earth foundation. If software income falls and hard income relies on floating profits, the ledger is like building a granary on sandy soil — when the rain comes, the foundation softens first.
The US stock that follows the big coin is currently just like the field's market — it sways with every breeze. When the weather is favorable, it grows wildly; when drought hits, it wilts first. As an old farmer, I don't envy others' bumper harvests in a single season; I only believe in one hard truth — whether the land can be planted year after year, whether the plow can turn the soil year after year, is more important than harvesting a few more bushels this season. Floating profits are clouds in the sky; software income is the soil beneath our feet. No matter how thick the clouds, they eventually disperse; if the soil is thin, you won't even get your seeds back next year. #strategyq3profitsurgesA quarterly revenue of $1.65 billion and a 21% year-over-year growth rate are on the scoreboard, but the real assessment of the situation is hidden in the guidance: $15 billion to $16 billion in Q4, with earnings per share down to just 0.25. This is not a winning move; it's like White, after gaining an extra pawn, pushes the pawn in front of the king forward, exposing the entire diagonal.
That impressive Q3 report card, in my eyes, is a successful exchange: materially advantageous, but the initiative was handed over. Revenue growth is a move already made; the guidance is the opponent’s yet-to-be-played move. Any weakness anticipated by the opponent in advance is not a weakness but a prelude to defeat.
Management has admitted that weak PC demand will last at least until the first half of next year. The weight of this statement lies not in "weakness" but in "at least." This signals a long endgame—not a position that can be turned around by a tactical combination, but one where the pawn structure is broken and the color complex is completely off. You can grind in the endgame with technique, but only if the structure is intact; once broken, even the highest skill rating can only defend.
The shutdown of the Israeli factory feels more like a severed supply line. Q4 shipments are stuck on a critical square; the passed pawn is about to promote but is pinned in place by the opponent’s rook. On the material ledger, you may still be ahead, but on the board, you have no usable space left.
The heavy post-market drop was a hidden move made by the opponent while you were thinking. The market never plays by etiquette; it only checks you when you think you’re safe. And tokenized assets turn this game into a nonstop match: 24/7 continuous moves, no closing bell, no break room. You do deep calculations, but the opponent uses low-liquidity periods to squeeze your breathing room; overnight gaps are like being checked in your sleep, waking up to find your king no longer in place. Worse, these assets’ order books are often only a few squares wide; when you try to retreat a piece, you find that square blocked by your own piece.
Sacrificing a piece depends on whether there is compensation afterward. Here, there is none—guidance is lowered, capacity is constrained, and the demand cycle has not bottomed. Three weaknesses lie exposed on the same diagonal; any competent opponent will not let this go.
I have faced too many such positions: clearly structurally disadvantaged, yet the player tries to snatch points back with a brilliant tactic, only to lose the last chance for a draw. The truly fatal factor is never that 21% growth rate, but the time disadvantage hidden beneath it—every move you make is patching leaks, every move your opponent makes is accumulating advantage.
In this game, I do not defend; I reset the board. #IntelQ4OutlookMiss $ZEC
Privacy coins have dropped like this, is it time to reach out and buy? Not so fast. ZEC hit a low of 1181 today, the wave from 1048 to 1398 has now retraced half by today, current price is 1221, Binance at 1220, lowest at 1180, both sides match up.
It dropped by 10%, but contract positions haven't shrunk, still holding $136 million, basically the same as a few days ago. The fee rate for the last settlement was positive, the premium has turned negative. Bulls haven't fled, nor is there a stampede, it's just that no one is stepping in.
I don't take this quietness as a signal of a bottom. When it really bottoms, bulls will either flee or scramble to accumulate, they won't just lie there like this. I accepted the elasticity of privacy coins last month once, but I won't follow this rebound without volume. If 1181 breaks again, there is no decent support between here and 1048.
#美国9月核心PCE升至3.1%，加息预期仍高