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Cryptocurrency market evaporates nearly a trillion in a month: Who is taking off? The logic behind the rebound of old coins, AI coins, and Meme coins.
According to CoinGecko data, the global cryptocurrency market capitalization reached a historic high of $4.4 trillion on October 6, but sharply fell by about 20% in the following month, nearly wiping out the cumulative gains since the beginning of the year, leaving only 2.5%.
This round of adjustment occurred almost simultaneously with the valuation correction of AI technology stocks, while the Meme coins and alternative coins favored by retail investors became hard-hit areas, with declines significantly higher than mainstream assets.
Market correction: The gains from the soaring October were swallowed in January.
The cryptocurrency market has almost erased all the gains of the previous ten months in just a few weeks.
This round of adjustment occurred almost simultaneously with the valuation correction of AI technology stocks, while the Meme coins and alternative coins favored by retail investors became hard-hit areas, with declines significantly higher than mainstream assets.
Market correction: The gains from the soaring October were swallowed in January.
The cryptocurrency market has almost erased all the gains of the previous ten months in just a few weeks.
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The on-chain analysis platform Glassnode pointed out in its latest options market report that Bitcoin investors are still in a state of extreme panic and insecurity.
According to the data, there have been no strong bottom reversal expectations in the options market recently or in the medium to long term.
According to Glassnode's analysis, there are currently no signs of accumulation, especially regarding medium to long-term call options with a strike price of $120,000. On the contrary, even during brief market rebounds, investors are using these opportunities to sell call options. This indicates that the market's optimistic sentiment about the long-term outlook is relatively weak.
One of the most striking parts of the report is the sharp shift in the balance of short-term (1 week to 1 month) put options to call options towards the sellers.
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According to the data, there have been no strong bottom reversal expectations in the options market recently or in the medium to long term.
According to Glassnode's analysis, there are currently no signs of accumulation, especially regarding medium to long-term call options with a strike price of $120,000. On the contrary, even during brief market rebounds, investors are using these opportunities to sell call options. This indicates that the market's optimistic sentiment about the long-term outlook is relatively weak.
One of the most striking parts of the report is the sharp shift in the balance of short-term (1 week to 1 month) put options to call options towards the sellers.
#币圈
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Previously, when Bitcoin was continuously hitting new historical highs, altcoins remained completely still. Now that Bitcoin is entering a volatile adjustment period, altcoins have started to surge. The current time point is also the end of the year following the halving. According to past bull market patterns, the market is expected to end around the end of this year, unless Bitcoin successfully breaks the 4-year bull-bear cycle. Therefore, if you're playing with altcoins and making profits, remember to run, don't get too excited, and be careful as this is the last wave of temptation before the market ends
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The trapped leeks, the wronged souls exposed, the capable who take profits.
When emotions are low, liquidity is scarce, and there is still continuous hedging and short-selling capital increasing, the buying power continues to decrease. At this time, the cost-effectiveness of continuing to sell off is not greater than that of pulling up, because the opposing side has changed.
If everyone still remembers, this year, such phenomena have occurred more than once in the counterfeit market. But this is not the counterfeit season; when many people chase after it, it will reverse again.
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When emotions are low, liquidity is scarce, and there is still continuous hedging and short-selling capital increasing, the buying power continues to decrease. At this time, the cost-effectiveness of continuing to sell off is not greater than that of pulling up, because the opposing side has changed.
If everyone still remembers, this year, such phenomena have occurred more than once in the counterfeit market. But this is not the counterfeit season; when many people chase after it, it will reverse again.
#币圈
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Bitcoin tests the $100,000 support, with Ethereum and Solana jointly declining, ZEC becoming a safe haven for funds!
The overall cryptocurrency market is under pressure, with Bitcoin approaching the $100,000 mark, and mainstream coins like Ethereum and Solana experiencing simultaneous declines, mainly influenced by tight liquidity, regulatory events, and market sentiment.
Overview of today's cryptocurrency market performance
Overall trend: The market continues its downward trend, with the spot price of Bitcoin dropping to around $101,000 (a decrease of 2.9% from the previous day), Ethereum down 3.96%, and Solana down 3.9%, with a daily market capitalization evaporation of approximately $300 billion. CME Bitcoin futures fell by 2.91%, and Ethereum futures dropped by 3.81%, indicating heightened short-term selling pressure.
Liquidation data: In the past 24 hours, the total liquidation amount across the network reached $563 million, affecting over 200,000 investors, highlighting the risks of leveraged trading.
Overview of today's cryptocurrency market performance
Overall trend: The market continues its downward trend, with the spot price of Bitcoin dropping to around $101,000 (a decrease of 2.9% from the previous day), Ethereum down 3.96%, and Solana down 3.9%, with a daily market capitalization evaporation of approximately $300 billion. CME Bitcoin futures fell by 2.91%, and Ethereum futures dropped by 3.81%, indicating heightened short-term selling pressure.
Liquidation data: In the past 24 hours, the total liquidation amount across the network reached $563 million, affecting over 200,000 investors, highlighting the risks of leveraged trading.
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Dogecoin Tug-of-War: Long-Term Holders Begin to Reduce Holdings, $0.18 Becomes a Key Defense Line!
Dogecoin (DOGE) is at a critical turning point. On-chain data indicates that long-term holders are beginning to adjust their positions, which may suggest that market sentiment is shifting from optimistic to cautious. According to a recent report from blockchain analytics firm Glassnode, experienced investors have recently shown a clear trend of taking profits.
Data shows that on October 31, the net holder position change (HNPC) of Dogecoin turned negative for the first time in weeks, with approximately 8.2 million DOGE flowing into wallets, while 22 million DOGE flowed out, indicating a 36% behavioral reversal. In other words, those who profited during the previous rise are starting to reduce their holdings, and the market sentiment is becoming more conservative.
Data shows that on October 31, the net holder position change (HNPC) of Dogecoin turned negative for the first time in weeks, with approximately 8.2 million DOGE flowing into wallets, while 22 million DOGE flowed out, indicating a 36% behavioral reversal. In other words, those who profited during the previous rise are starting to reduce their holdings, and the market sentiment is becoming more conservative.
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What is the current status of the two major platforms in the Binance Alpha that have been hotly discussed in the market the day before yesterday?
MMT has gradually fallen back to its issuance price, and in the past few days, it has successively released the delayed unlock in two batches and returned the investors' pledged principal this morning.
AIA released the second batch of unlock on time before yesterday's launch, but due to the total market chips being around 5% after the unlock, it resulted in a short squeeze.
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MMT has gradually fallen back to its issuance price, and in the past few days, it has successively released the delayed unlock in two batches and returned the investors' pledged principal this morning.
AIA released the second batch of unlock on time before yesterday's launch, but due to the total market chips being around 5% after the unlock, it resulted in a short squeeze.
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Zk dash should soon see another wave of increase.
Icp fil needs to decline a bit to drop passengers, then it will align for the next wave. Choose those driven by strong players; it should be relatively easy.
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Icp fil needs to decline a bit to drop passengers, then it will align for the next wave. Choose those driven by strong players; it should be relatively easy.
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The stablecoin company Tether increased its holdings by 961 bitcoins today, worth approximately 97.34 million USD. The current situation is that retail investors are in panic while institutions are buying the dip.
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Bitcoin must hold the 200-week moving average to avoid a deep bear market; the Fed's 'invisible QE' may become a key lifeline
In the past week, Bitcoin (BTC) has come under pressure again, falling over 8% and breaking below the $100,000 mark for the first time since June of this year. On-chain data shows that long-term holders have sold approximately $45 billion worth of BTC during this round of correction, exacerbating market selling pressure.
This decline is not an isolated event. With AI concept stocks plummeting, the overall market risk appetite has decreased, and risk assets have generally faced a correction. According to The Kobeissei Letter data, Bitcoin has seen a cumulative correction of about 20% since reaching an all-time high on October 6, officially entering a technical bear market range.
This decline is not an isolated event. With AI concept stocks plummeting, the overall market risk appetite has decreased, and risk assets have generally faced a correction. According to The Kobeissei Letter data, Bitcoin has seen a cumulative correction of about 20% since reaching an all-time high on October 6, officially entering a technical bear market range.
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Dogecoin death cross warning raises concerns, as prices have fallen 45% from the peak of $0.30!
As traders brace for the impending death cross, the allure of Dogecoin seems to be rapidly fading. The death cross is a technical warning that may solidify the shift of this digital currency from bullish optimism to market caution.
Once a symbol of retail enthusiasm and viral momentum, Dogecoin (DOGE) has shown signs of fatigue after experiencing a strong summer rally, with prices soaring to $0.30 at one point. Since then, the cryptocurrency has dropped nearly 45%, with increasing technical and on-chain resistance causing the price to fall to around $0.163. The formation of a death cross, occurring when the 50-day simple moving average (SMA) crosses below the 200-day SMA, further reinforces bearish sentiment and suggests the possibility of a larger decline in the future.
Once a symbol of retail enthusiasm and viral momentum, Dogecoin (DOGE) has shown signs of fatigue after experiencing a strong summer rally, with prices soaring to $0.30 at one point. Since then, the cryptocurrency has dropped nearly 45%, with increasing technical and on-chain resistance causing the price to fall to around $0.163. The formation of a death cross, occurring when the 50-day simple moving average (SMA) crosses below the 200-day SMA, further reinforces bearish sentiment and suggests the possibility of a larger decline in the future.
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BitMEX co-founder Arthur Hayes stated that the next stop for ZEC will be 1000 dollars. I hope those who hate me continue to short it.
Previously on October 30, BitMEX co-founder Arthur Hayes called for ZEC, stating that nothing can stop this train, and ZEC will rise to 10,000 dollars.
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Previously on October 30, BitMEX co-founder Arthur Hayes called for ZEC, stating that nothing can stop this train, and ZEC will rise to 10,000 dollars.
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The market is always counterintuitive, bouncing back and forth at every critical point. 120,000 and 110,000 are no exceptions; now it is around 100,000, which has strong support and is unlikely to break easily. Similarly, once it breaks, it can quickly reach a bottom.
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ChainCatcher message, on November 6, according to SoSoValue data, the encrypted market rebounded across the board, with a general increase of about 2% to 7% in 24 hours, among which, the PayFi sector led with a rise of 7.31%. Within the sector, Telcoin (TEL) rose by 28.44%, XRP increased by 7.71%, and Dash (DASH), which had previously seen significant gains, fell by 11.41%. Additionally, Bitcoin (BTC) rose by 2.75%, breaking through $103,000; Ethereum (ETH) increased by 5.09%, surpassing $3,400.
It is worth noting that MAG7.ssi rose by 4.31%, DEFI.ssi rose by 5.05%, and MEME.ssi rose by 3.87%.
In other sectors, the Meme sector rose by 5.51% in 24 hours, with OFFICIAL TRUMP (TRUMP) increasing by 16.56% and Giggle Fund (GIGGLE) soaring by 130.10%; the DeFi sector rose by 4.91%, with AERO (Aerodrome Finance) rising by 10.58%; the Layer1 sector rose by 4.66%, with Zcash (ZEC) continuing its upward trend, climbing 11.21% during the day; the Layer2 sector rose by 4.56%, with SOON (SOON) strongly increasing by 112.83%; the CeFi sector rose by 3.03%, with Aster (ASTER) rising by 11.55%.
The crypto sector indices reflecting historical market trends show that ssiPayFi, ssiDePIN, and ssiDeFi indices rose by 7.68%, 5.70%, and 5.72%, respectively.
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It is worth noting that MAG7.ssi rose by 4.31%, DEFI.ssi rose by 5.05%, and MEME.ssi rose by 3.87%.
In other sectors, the Meme sector rose by 5.51% in 24 hours, with OFFICIAL TRUMP (TRUMP) increasing by 16.56% and Giggle Fund (GIGGLE) soaring by 130.10%; the DeFi sector rose by 4.91%, with AERO (Aerodrome Finance) rising by 10.58%; the Layer1 sector rose by 4.66%, with Zcash (ZEC) continuing its upward trend, climbing 11.21% during the day; the Layer2 sector rose by 4.56%, with SOON (SOON) strongly increasing by 112.83%; the CeFi sector rose by 3.03%, with Aster (ASTER) rising by 11.55%.
The crypto sector indices reflecting historical market trends show that ssiPayFi, ssiDePIN, and ssiDeFi indices rose by 7.68%, 5.70%, and 5.72%, respectively.
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BTC falls below 100,000, ETH tests 3200 again: Who will be washed out in this liquidity crisis?
In the past week, the market has been permeated by an unusual tension:
Stocks, commodities, and cryptocurrencies are not spared, all collectively facing sell-offs.
This is not a localized risk in a single market, but a global liquidity contraction.
On the surface, the Federal Reserve just announced an interest rate cut on October 30, which should release liquidity.
Yet the market has tightened in the opposite direction—funding costs have risen instead of falling. What exactly is happening behind the scenes?
Liquidity Alert: SOFR rates have soared abnormally
The most direct signal comes from the Secured Overnight Financing Rate (SOFR)—the 'funding price barometer' of the U.S. financial system.
Stocks, commodities, and cryptocurrencies are not spared, all collectively facing sell-offs.
This is not a localized risk in a single market, but a global liquidity contraction.
On the surface, the Federal Reserve just announced an interest rate cut on October 30, which should release liquidity.
Yet the market has tightened in the opposite direction—funding costs have risen instead of falling. What exactly is happening behind the scenes?
Liquidity Alert: SOFR rates have soared abnormally
The most direct signal comes from the Secured Overnight Financing Rate (SOFR)—the 'funding price barometer' of the U.S. financial system.
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Dogecoin drops, DOGE-1 flies, faith and illusion in the Meme market?
This week, Musk left a brief message on social media - 'It’s time', and this tweet quickly ignited discussions about Dogecoin in the market. Traders acted on the news, seeking potential speculative opportunities in the Meme coin sector.
However, the price of Dogecoin (DOGE) itself reacts relatively slowly. Initially, there was no significant increase, and later it even followed the market downwards.
As of November 5th, DOGE had dropped to around $0.16. During the same period, Bitcoin and Ethereum also fell amid rising risk aversion, showing overall market weakness.
However, the price of Dogecoin (DOGE) itself reacts relatively slowly. Initially, there was no significant increase, and later it even followed the market downwards.
As of November 5th, DOGE had dropped to around $0.16. During the same period, Bitcoin and Ethereum also fell amid rising risk aversion, showing overall market weakness.
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When everyone is shouting about bad news, the market is brewing a new round of 'bad news immunity'——
11 The whole world is falling, the newly-high Japanese and Korean stocks are also down, and U.S. stocks are down in pre-market trading!
Regarding interest rate cuts: Last Wednesday, the Federal Reserve spoke, and the likelihood of a rate cut in December seems to have decreased, suggesting there is no urgent need to cut rates.
Regarding ETF outflows: Last week, the net outflow of Bitcoin's U.S. stock ETF was $802 million, and on Monday, November 3, there was a net outflow of $180 million.
Regarding tariffs: The U.S. Supreme Court will hold oral arguments for the 'tariff trial', reviewing the legality of Trump's global tariffs, with significant uncertainty.
Regarding the shutdown: The U.S. federal government 'shutdown' has entered its 35th day, tying the record for the longest 'shutdown' in U.S. history. The government closure has led institutions to hedge high-risk assets, triggering a sell-off.
So looking at it, is the market all bad news?
Yes, that's the market! When it's falling, all you see are bad news; when it's rising, all you see are good news!
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11 The whole world is falling, the newly-high Japanese and Korean stocks are also down, and U.S. stocks are down in pre-market trading!
Regarding interest rate cuts: Last Wednesday, the Federal Reserve spoke, and the likelihood of a rate cut in December seems to have decreased, suggesting there is no urgent need to cut rates.
Regarding ETF outflows: Last week, the net outflow of Bitcoin's U.S. stock ETF was $802 million, and on Monday, November 3, there was a net outflow of $180 million.
Regarding tariffs: The U.S. Supreme Court will hold oral arguments for the 'tariff trial', reviewing the legality of Trump's global tariffs, with significant uncertainty.
Regarding the shutdown: The U.S. federal government 'shutdown' has entered its 35th day, tying the record for the longest 'shutdown' in U.S. history. The government closure has led institutions to hedge high-risk assets, triggering a sell-off.
So looking at it, is the market all bad news?
Yes, that's the market! When it's falling, all you see are bad news; when it's rising, all you see are good news!
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Another Bloodbath: When Trust Collapses and Liquidity Dries Up, Who Can Make a Clean Escape?
In the past week, the cryptocurrency market has once again experienced a bloodbath. Market sentiment has visibly dropped to freezing point—Bitcoin is struggling to hold near the October crash low, while Ethereum has lost the critical support of $3500. Almost all sectors are experiencing a waterfall decline except for the privacy sector. In the past 24 hours, the total amount of liquidations across the network exceeded $1 billion, with the number of liquidated individuals reaching several hundred thousand. What is lamentable is that such numbers no longer seem to provoke much astonishment. It seems everyone has become accustomed to this level of 'bloodshed.'
But the market's decline has never been without reason. Looking back, behind this round of plummeting, there are actually three forces working simultaneously.
But the market's decline has never been without reason. Looking back, behind this round of plummeting, there are actually three forces working simultaneously.
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Dogecoin's downward trend intensifies: Short-term may look towards $0.168, long-term support still at the $0.07 area!
As of the time of writing, Dogecoin (DOGE) has dropped nearly 8% in the past 24 hours, and market bearish sentiment remains strong. Since falling from a high of $0.30, DOGE has continued to maintain a bearish market structure, while over 75 altcoins have outperformed Bitcoin (BTC) during the same period, indicating the relative weakness of this meme coin.
Key support and potential downside area
According to UTXO realized price distribution data, $0.18 is the current key support range for Dogecoin. This position is seen as a 'line of life and death'; if the price continues to fall below this range, it may point towards the $0.07 area below.
Key support and potential downside area
According to UTXO realized price distribution data, $0.18 is the current key support range for Dogecoin. This position is seen as a 'line of life and death'; if the price continues to fall below this range, it may point towards the $0.07 area below.
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Will Ethereum continue to decline?
If Ethereum fails to break through the resistance level of $3800, it may trigger a new round of decline. The initial support level is around $3580. The first major support level is near the $3550 area.
If the price clearly falls below the support level of $3550, it may test the support level of $3500. If the price continues to drop, it may further test the $3420 area in the short term. The next key support levels are at $3350 and $3320.
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If Ethereum fails to break through the resistance level of $3800, it may trigger a new round of decline. The initial support level is around $3580. The first major support level is near the $3550 area.
If the price clearly falls below the support level of $3550, it may test the support level of $3500. If the price continues to drop, it may further test the $3420 area in the short term. The next key support levels are at $3350 and $3320.
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