Crypto Rangers

华尔街近期减持约5.4亿美元MicroStrategy（MSTR）股票。2025年Q3该股机构持仓价值降14.8%，Capital International、贝莱德等头部基金均有减持

减持原因主要是$BTC 大饼现货ETF普及，机构转向直接投资大饼，因此MSTR的比特币代理价值削弱。不过它仍握超300亿美元机构市场敞口，未来或更多承担战略性对冲及杠杆工具的角色#比特币波动性

Tom Lee's Bitmine company just bought 28625 Bitcoin $ETH

Today, Coinglass data shows that Coinbase's Bitcoin premium index $BTC has recorded a negative premium for 24 consecutive days, currently reported at -0.0658%, reflecting the ongoing selling pressure in the U.S. crypto market.

A negative premium indicates a decline in risk appetite among U.S. market investors, an increase in risk-averse sentiment, and clear signs of capital outflow, compounded by significant outflows from Bitcoin ETFs recently, further intensifying pressure on coin prices.

Current market sentiment is depressed, and there is insufficient motivation for compliant capital to enter the U.S. market. The crypto market is still weighed down by sentiment in the short term, and the upward trend next week faces significant pressure; leverage should be cautious, and one can continue to gradually accumulate at spot price #比特币波动性 .

Recently, the cryptocurrency market is in distress, mainly due to a convergence of negative factors. Bitcoin $BTC has created the largest drop in 46 days, exceeding 35%, nearly breaking the $80,000 mark, and has slightly rebounded to around $84,000.

Concerns about the AI bubble are also suppressing U.S. stocks, with institutions selling Nvidia shares, dragging down crypto sentiment;

Bitcoin ETFs have seen record outflows, with over 2.5 billion net outflows this month, and retail investors' selling has become the main pressure;

The outlook for Federal Reserve interest rate cuts is wavering, with probabilities fluctuating, compounded by shrinking liquidity, which has increased market downside risks, significantly enhancing overall pressure. Whether Bitcoin will correct next week or break below $80,000 remains to be seen.

Last night was another avalanche, the outflow of funds from the crypto market ETF has intensified, with Bitcoin spot ETF experiencing a net outflow of $903 million yesterday, the second highest in history; Ethereum spot ETF had a net outflow of $262 million, marking eight consecutive days of losses. JPMorgan pointed out that the recent core reason for the crypto market pullback is the retail investors selling Bitcoin and Ethereum ETFs. Since November, the outflow from these two ETFs has exceeded $4 billion, surpassing the record set in February.

Retail investors have not entirely avoided risk assets and are still aggressively buying stock ETFs, only selectively withdrawing from crypto ETFs. Coupled with macroeconomic uncertainty, the outflow of funds and the decline in cryptocurrency prices have created a vicious cycle. Bitcoin $BTC has fallen below the $90,000 mark, the cold winter has arrived, everyone be cautious with contracts #加密市场观察 .

Since 2018, the big pie $BTC has experienced 11 crashes, yet it has never broken the reliable pattern of "crash must rebound"—after a short-term weakness, it always manages a strong recovery, with the core logic hidden in emotions and historical patterns.

Whenever the cryptocurrency fear and greed index falls to 10 or below (extreme fear), strong returns are guaranteed: in 2018, when the index hit 8, BTC skyrocketed from $3,200 to $14,000; in 2020, when the index was at 12, it surged from $3,800 to $65,000. The current market panic sentiment is spreading, which is precisely the opportunity window verified by history, however, laying out spot positions at lows is more cost-effective.

J.P. Morgan calls for bottom buying! U.S. stocks experience four consecutive declines, presenting a buying window

U.S. stocks face the longest consecutive decline since August, with the S&P 500 dropping a total of 3.4% over four days, and the Dow Jones falling nearly 500 points, as the "Big Seven" tech companies collectively decline. J.P. Morgan states: this is a "technical washout" and may have come to an end, with the fundamentals unchanged, making it currently a good time to buy on dips.

The market is currently focused on two key events: NVIDIA's earnings report after the market closes on November 19 (5 AM Beijing time), with market expectations of revenue at $54.8 billion, and Thursday's non-farm payroll data, which is expected to pave the way for new highs in U.S. stocks. Although some institutions warn of valuation risks, the current price-to-earnings ratio has dropped to the lowest since August, indicating potential for capital inflow.

Elon Musk returned to the White House on Tuesday (the 18th), seen as a significant sign of easing tensions in his relationship with Trump, which had become strained earlier this year due to disputes over deficit spending.

According to Bloomberg, Musk's visit was at the invitation of Trump for a dinner hosted for Saudi Crown Prince Mohammed bin Salman. Also attending were business leaders including Apple (AAPL-US) CEO Tim Cook, David Ellison, Marc Benioff, Bill Ackman, and Nvidia's Jensen Huang.

The event also gathered sports and political figures, including soccer star Cristiano Ronaldo, as well as Republican VP candidate JD Vance and House Speaker Mike Johnson among others.

Another day of chaos in the dog market, the U.S. stock market plummeted, AI bubble corrections combined with macro fluctuations, $BTC fell below the 90,000 mark, $ETH dropped below 3,000 dollars, over 170,000 people liquidated in 24 hours. But no one can accurately time the market bottom or peak, the current situation is unclear, and spot trading is the safer choice.

The volatility in the cryptocurrency spot market is already sufficient to cover profit margins. Non-top-tier professionals should avoid contracts; under high leverage, even slight fluctuations can trigger liquidations. It is recommended to invest in batches to average costs, maintain spot positions without changes, and patiently wait for market sentiment to improve and liquidity to return, staying away from contracts to avoid passive exits #加密市场观察

IQ 276 Genius Makes Bold Statement! Bitcoin to Reach $220,000 in 45 Days?

South Korean genius Kim Yong-hoon, who holds the world record for the highest IQ certification (276 points), has made a significant prediction for the cryptocurrency market — $BTC will rise to $220,000 in the next 45 days. This is not the first time he has supported Bitcoin, previously stating that it will increase 100 times in the next 10 years, and he has even converted all his assets into Bitcoin.

However, this prediction is controversial on two fronts: on one hand, his IQ certification has been questioned by European media, as the certifying body lacks authoritative recognition, and scores above 160 are inherently hard to trust; on the other hand, the current Bitcoin price has fallen below $93,000 and has retraced its gains for the year. While some analysts believe the market bottom will appear and are building long positions, Kim Yong-hoon's short-term bullish forecast sharply contrasts with the current market situation, leading to significant divergence within the crypto community, although everyone still hopes Bitcoin will break new highs soon.

The U.S. Senate has resumed negotiations on the CLARITY Act, with the core focus on clearly delineating the regulatory boundaries between the SEC and CFTC, rather than completely stripping the SEC of its powers— the SEC will still oversee 'digital asset securities', while the CFTC will lead the regulation of 'digital commodities' (such as BTC and ETH) in both spot and derivatives markets.

The bill also exempts non-custodial DeFi services from registration, relaxes thresholds for small fundraising, and establishes a blockchain 'maturity' certification mechanism. Currently, the probability of passage has risen to 35%. If it is enacted before the end of the year, it will resolve the regulatory ambiguity, reduce compliance costs, significantly boost market confidence, and inject strong certainty into crypto assets.

If the bill is enacted, it will be favorable for Bitcoin $BTC .

Is the four-year cycle of the pancake about to cool down?

Recently, Bitwise CEO made a significant statement: $BTC the four-year cycle is no longer applicable! The core halving effect of the original cycle has greatly diminished due to the sharp decline in the proportion of new additions.

Combined with the institutional funds brought by spot ETFs and the friendly regulation from the new management, the market ecology has been completely renewed. More critically, investors may sell off in 2025 to avoid the "cyclical decline" in 2026, thereby breaking the cyclical pattern.

The market has already experienced nearly six months of a bear market, with institutions predicting that the bear market may come to an end, and 2025 could become a key node for breaking the old cycle.

Recently, Tom Lee made a statement, focusing on the core idea of the macro structural transformation initiated by the "super cycle". He believes that investor pessimism stems from a misjudgment of macro signals, and there are currently hidden systemic opportunities.

He refuted the consensus on recession and stagflation: the yield curve inversion is caused by differences in inflation expectations, and there are no sustained high inflation rigid conditions at present. The resilience of corporate profits is underestimated; he emphasized that AI is not a bubble, the demand for computing power is real, and GPU saturation makes the high valuations of leading companies reasonable. The concentration at the top is an inevitable result of economies of scale.

In the crypto space, he is optimistic about $BTC (related to manufacturing recovery) and $ETH (core of on-chain finance), predicting a target of $21,000 for $ETH and an ultimate valuation of $1.6 - $2 million for Bitcoin. He suggests a dollar-cost averaging strategy for investing at the lows, while being cautious of a 20% pullback volatility, and there is no need to overly worry about inflation and geopolitical risks.

Market risk sentiment is changing, the AI bubble warning and the migration of cryptocurrency liquidity are forming a game! Michael Burry, the prototype of "The Big Short," and Jim Chanos have both issued warnings. Behind the $349 billion AI capital expenditure of tech giants, depreciation pressure and the risk of inflated profits will concentrate and explode. Goldman Sachs further pointed out that the current AI market is highly similar to the eve of the 1997 internet bubble, with five major warning signals already emerging.

The funding landscape is brewing reconstruction: highly valued AI stocks are facing corrections, and some profit funds may flow into high Beta assets, making the cryptocurrency market a potential outlet. $BTC is currently fluctuating in the $102,000 - $108,000 range. If the US stock AI sector continues to cool down, Bitcoin and $ETH are expected to attract risk aversion and speculative liquidity, becoming important options for capital reallocation.

Finally, there is good news. Four major potential benefits are converging, and the cryptocurrency market may enter a critical window period! The U.S. Senate has passed a temporary funding bill, and the government shutdown is expected to come to an end, injecting stability into the market; although there are differences in interest rate cut expectations (Citigroup predicts a cut before the end of the year, while Bank of America takes a cautious stance), the overall expectation for easing has not changed.

Additionally, Trump has proposed granting a $2,000 "tariff bonus" to low-income individuals. Coupled with the marginally improving expectations for cryptocurrency policies, if implemented, it will further release liquidity. The current market is in a low-level fluctuation, and with multiple positive factors resonating, it may become a rare opportunity to position for quality assets. A new round of market activity may be on the verge of happening.
#美国结束政府停摆 $BTC

The reason for the recent downturn is here. According to on-chain data, as of the week ending November 3, 2025, there was a net outflow of $360 million in digital asset investment products.

Among them, $BTC Bitcoin ETF saw a net outflow of $946 million. $ETH Ethereum ended a five-week streak of net inflows, experiencing a net outflow of $169 million. Among alternative coins, $SOL performed outstandingly, with a weekly net inflow of $421 million, setting a historic second-high record.

Regionally, the U.S. market experienced a net outflow of $439 million, Germany saw a net inflow of $502 million, and Switzerland faced a net outflow of $359 million due to asset transfers between institutions. However, the U.S. government is set to open, which should be positive for #美国政府停摆 .

On November 8, 2025, Michael Saylor, the founder of Strategy, called on social media to "buy Bitcoin immediately." On the same day, Eric Trump also expressed strong optimism about Bitcoin in an interview, stating that the largest family, private wealth funds, and Fortune 500 companies value Bitcoin, and people are hoarding it. He believes that Bitcoin will continue to soar, and he is fully committed to this.

Michael Saylor's company, Strategy (formerly MicroStrategy), has long been a staunch supporter of Bitcoin. As of April 2025, the company holds 531644 coins $BTC , with a total purchase cost of $35.92 billion. Eric Trump is the Chief Strategy Officer of an American Bitcoin company, and he predicted at the Bitcoin Asia 2025 conference in August that "Bitcoin will break one million dollars."

The recent continuous decline in the cryptocurrency market has finally led to the collapse of an institution. The cryptocurrency hedge fund Lantern Ventures is returning funds to external investors, has stopped accepting new investments, and may face dissolution. The company is looking for buyers or considering transforming into a family office.

Lantern Ventures was founded by former members of Alameda Research and managed approximately $600 million in assets at its peak. Currently, several employees of the hedge fund may face unemployment $BTC .

Today, Strategy announced that the fundraising scale of its perpetual preferred stock STRE has increased from 350 million euros to 620 million euros, approximately equivalent to 715.1 million U.S. dollars. The issuance and sale plan for STRE shares is scheduled to settle on November 13, 2025, but must meet customary closing conditions.

The STRE shares offered in this issuance are priced at 80 euros per share, with a total of 7,750,000 shares issued. The funds will be used to increase holdings in $BTC and for general corporate purposes of other companies. The annualized dividend yield for this preferred stock is 10.00%, with quarterly cash payments starting from December 31, 2025.

The company may redeem the shares when the outstanding total is below 25% of the initial issuance amount or upon the occurrence of certain tax events. Holders may request a buyback in the event of a "fundamental change". Finally, there is good news, Lao Deng will continue to buy big cakes $BTC

The U.S. government shutdown has lasted 36 days, setting a record for the longest duration in history. To restore normal operations before the Senate recess next week, the Senate may hold additional sessions this weekend.

Senate Majority Leader John Thune has expressed an 'optimistic' attitude about reaching an agreement to restart the federal government before this weekend, suggesting that a new short-term funding bill to restart the government could be combined with parts of the 12 annual appropriations bills that provide funding for federal agencies.

However, there are still serious disagreements between the two parties on issues such as healthcare-related benefits spending, and the timeline for releasing the draft remains unclear. Previously, senators hoped to complete revisions to the market structure bill before Thanksgiving, but it now seems difficult to achieve, with a higher likelihood of revisions in December. It appears that the rise of the cryptocurrency market will have to wait again.