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Before the $BTC news is confirmed, BTC remains stuck in the middle of the range
The news about Germany's savings bank launching crypto trading in its app has not been verified yet, so I don't intend to use this as a basis to change my BTC outlook. The news claims the first batch will support 5 assets, but such rumors often fluctuate. For trading, unconfirmed news is just noise.
The price itself also tells the story: the high and low points in the past few hours were 82,150 and 81,793.7 USDT, and the just-closed 5-minute candle was at 82,003.2 USDT, right in the middle of the range. The spot trading volume in the last 15 minutes is only 0.68 times the average per 15 minutes over the previous 3 hours, showing clearly low activity. Given this position and volume combination, I tend to stay out and wait until the price approaches the range edges or the news is further confirmed.$BTC is approaching a key support level.
Short Term Holder Realized Price: $74,595
This level helped mark the 2023 bottom before Bitcoin rallied higher.
If we pull back towards $74,600, it could offer major support and form the next higher low.People who watch the market every day lose to those who only buy 1 coin daily. Is this really just luck? Have you ever thought that the hardest part of dollar-cost averaging isn't picking the coin? Let's first debunk a misconception: many people see El Salvador's unrealized gains as a "national team bottom-fishing masterstroke," but the truth is quite the opposite. They hold about 7,800 BTC at an average price of $55,000, with current unrealized gains close to 44%. The key isn't bottom-fishing, but rather buying 1 coin every day starting from March 2024, persisting for over 900 days. Since the IMF forbids using national funds, they turned to personal donations to keep buying. This isn't market timing; it's about removing buying behavior from emotional influence. Meanwhile, the market hovers around 81,700, most accounts look bad, and there's no sense of rhythm. Putting these two facts together is what I find most worth pondering—the market now resembles a phase of divergence, neither starting nor distributing yet. The hallmark of this divergence phase is: the index moves sideways, narratives fly everywhere, short-term traders get slapped back and forth, while those with low cost and steady rhythm don't even look at candlesticks. El Salvador's 44% gain isn't because they're smarter; it's because they didn't participate in this intraday game at all. The bullish logic is that such national-level holders don't create selling pressure; instead, they provide a psychological anchor on the sentiment level for altcoins and BTC as "someone is long-term backing." The risk lies on the other side—44% unrealized gains mean that once macro conditions shift, these chips could be used by the market as negative narrative fodder, and the dollar-cost averaging strategy also suffers in a one-sided decline, though they can endure it, retail investors may not.#闪迪存储业务高增长能否延续?
SanDisk's stock has been really volatile lately.
The earnings report is coming out on October 29, and the market is acting crazy. A few days ago, storage stocks plummeted so badly it was unrecognizable, but on the 19th when the US market opened, funds rushed in like crazy. SanDisk surged 10% intraday, Micron rose 6%, and SK Hynix also jumped over 7%. This rollercoaster ride is really tough on the nerves.
Why such wild swings? Simply put, the market is deeply divided on how long the AI storage boom can last. Looking at earnings expectations, revenue is forecasted between $10.3 billion and $10.8 billion, mainly supported by high-end demand from AI data centers and NAND flash price hikes. Citi even said this supply-demand gap could last until 2028. That sounds encouraging, but the funds are currently betting aggressively and trying to get ahead.
What are the impacts?
First, computing power costs are stubbornly high. Storage chips remain scarce, so hardware costs for mining rigs and AI computing devices won't come down. Miners still have to bear the pressure; don't expect big price drops anytime soon.
Second, the crypto AI concept will continue to be exposed. Traditional giants are competing on hardware, orders, and earnings, while those projects that only issue white papers to ride the AI hype without any real products will have an even harder time ahead. Funds are very shrewd now and will only flow to places with real computing power and real cash flow.
What’s your take? $SNDK These days, $ETH has been moving quite fiercely, steadily dropping from above 2510, breaking down, hitting a low that directly pierced through 2390, with the bears completely dominating the market. I entered the position right at the point when the bulls' rebound was completely powerless and the market accelerated downward, using 100x leverage to directly multiply my profits by four and a half times.
My main focus when watching the market is the stampede after the bull structure collapses. At that time, the 1-minute moving averages all formed death crosses and pushed down, the technicals had already broken down, but the funding rate was still high. This indicates that a large number of bulls were still holding on stubbornly, unwilling to admit defeat. Price breakdown combined with crowded leverage is the most typical precursor to a chain liquidation, so I decisively entered at the exhaustion point of the rebound. $BTC
During the position holding period, there were violent spikes on the chart, but I kept a close eye on the spot side and found that there was basically no capital to absorb this wave of selling pressure. Coupled with the overall market sentiment being extremely fearful at the time, the bearish momentum was very strong, so I held the position firmly without being shaken out, fully capturing the fattest main downtrend segment. $ZEC #机构资金转弱,BTC与ETH谁先迎来回流? $BTC is showing early signs of a notable strengthening.
Weekend spot participation surged significantly, while perpetual contract trading remained basically flat — exactly the scenario you want to see. Real buyers are entering, not just leveraged funds chasing the rally.
If spot CVD stays high this week and perpetual contracts don’t spike in sync, we’re very likely to approach the range highs again. A solid demand structure always beats speculative leverage.
Watch if perpetual contracts remain neutral or lag behind. If they run far ahead of spot, this move will be less stable. Right now, spot is leading — that’s the kind of buying you can trust. $BTC $ETH $SOL Opened the market at 2:30 AM, the ETH/BTC rate stands at 0.0292, which is the first time in nearly two weeks it has touched above 0.029 again. ETH is up 2.4% in 24 hours, BTC up 1.2%, a difference in gains by a factor of two. I watch this rate longer than the USD price because the USD price only tells you the market is rising, while the rate tells you where the funds are flowing.
My judgment is that this round of ETH is not simply following the rise, but ETH's own narrative is catching up. After the staking topic was discussed again, the locked ETH reduced the circulating supply, and the selling pressure structure has truly changed; the capital inflow on the DeFi side is the other side of the same logic—ETH is needed on-chain, so demand is not just speculative. BTC's current role is more like ballast, rising slowly but not falling, and this structure is actually most comfortable for ETH.
Regarding positions, my base position is still BTC, accounting for 60%, unchanged; ETH is a flexible position, increased to 30% this round, with the rest kept in cash. For every 0.001 increase in the rate, I reduce some ETH to exchange back to BTC, not guessing the top, just rebalancing.
I have a question for everyone: if ETH/BTC really goes above 0.032, would you continue to add ETH or start exchanging back to BTC?
Follow me for continuous sharing of real trading logic and position ideas
#质押 #BTC #ETH
#OKX预言家 🔥【Macro Express】China's Q3 GDP at 4.5%, exceeding expectations.
This data really stands out in this era of global downturn.
Next door, the US PPI is off the charts, no hope for rate cuts; meanwhile, our Q3 growth actually accelerated.
What does this mean? It means we didn’t resort to massive liquidity flooding but managed to support the economy firmly based on fundamentals.
But is this good news for our BTC holdings?
A quick calculation reveals hidden risks.
If the global economy all recovers this strongly, once demand rebounds, won’t oil and commodity prices surge again?
When commodities rise, can US inflation really come down?
If inflation doesn’t fall, the Fed’s 5.6% high interest rate sword will keep hanging over us.
Yesterday we said BTC barely climbed back from 84,000 to 82,000, option volatility hit a five-year low, and funds were playing dead.
Now with good macro data, the market logic shifts from "betting on recession to force Fed rate cuts" to "strong economy, Fed keeps tightening."
As long as the faucet isn’t turned on, the crypto market is just a zero-sum game within existing funds.
So don’t expect good macro data to magically cause funds to overflow into crypto.
Funds are currently clustered in stocks and wealth management, with no time for us.
Macro recovery doesn’t mean personal wallets recover. After this round of macro battles and cold shots that really bleed out chips, it won’t be too late for us to enter the market.👇
$BTC On-chain "Yu'e Bao" deposits have exceeded 10 billion USD, but don't treat it as risk-free wealth management
The deposit scale of crypto lending vaults has surpassed 10 billion USD. At the beginning of this year, it was only around 4 billion, and in September 2024, it was just 1.5 billion, nearly a 7-fold increase in two years. The funds mainly come from fintech companies, treasury managers, and hedge funds—they don't want stablecoins and BTC just sitting idle in wallets.
But high yields do not equal safety. The underlying loans may be collateralized with tokens that have poor liquidity, stablecoins, or even tokenized private credit. If the collateral value drops or can't be sold, defaults, cascading liquidations, and contract vulnerabilities will all emerge.
One detail that illustrates the issue: a WBTC lending vault run by an institution targets an annualized return of only 1.5% to 2%, and even puts up 10 million USD upfront as a loss buffer. Mature capital never seeks 20% high interest; it wants idle assets to steadily earn some interest.
Where there are high yields, risks are definitely waiting somewhere.
$BTC $USDT$XMR hashrate was 5.84 GH/s on Oct 15, roughly 22% under its Jan 16 peak of 7.54 GH/s. Price is about 30% under its January high. Delisting pressure hasn’t eased, with EU AML rules aimed at privacy coins due July 2027. But so far hashrate has fallen less than price, which I didn’t expect.
My read: neutral, 2 weeks. Level I’m watching: 5.8 GH/s, the Sep 30 low. A sustained break below it, and I turn bearish.One is resistant to decline, one breaks support, one is receding tide
$BNB
718.5, up 0.49 points, the resistant one 🔶
The whole market is slightly red on retreat, supported by BNB Chain's daily usage, with daily gas consumption, ecosystem projects, and Launchpad demand happening—not relying solely on sentiment. 718 is relatively resistant due to ecosystem usage providing a floor, unlike pure sentiment-driven platform tokens.
$TRUMP
1.701, down 3.24 points, the one breaking support 🎭
Dropped directly from the 1.86 platform to 1.70, no new events fueling this round. Fixed issuance, community governance, price swings entirely based on news about figures, a thin volume sell order suppresses over three points, after breaking support it needs to find a new position below.
$ENA
0.18554, down 1.94 points, the receding tide one 🌬️
Ethena's USDe synthetic dollar is backed by collateral yield, protocol scale is leading, the market remains cautious about extreme de-pegging, 0.185 retreats with the stablecoin concept, the model is not rejected, only valuation is suppressed, waiting for the stablecoin sector to provide direction.
This article is for market analysis only and does not constitute investment advice.
#特斯拉发布新一代Roadster,行情走高 $SKHYNIX perpetual 50x long position, opened at 903.4, now at 965.6, unrealized profit +344.25%.
Just betting on a bottom reversal: 903.4 tested three times without breaking, volume increasing stepwise, classic double bottom pattern. Enter at the moment the bullish candle pulls up, never guessing the bottom prematurely. 50x leverage. This move has been very clean, almost no pullbacks, a big profit trade secured.
For now, hold steady and let the bullets fly a bit. Set 950 as the defense line to protect the principal, wait for a clear signal around 1000 before deciding to add or reduce, no rush. $BTC #SpaceX上市后首份完整季度财报将揭晓 $ETH ETF withdrawal, whales accumulating: BTC's trump card is not in the order book
ETF is retreating, on-chain is buying, this round the trump card is not visible.
In October, BTC ETF net outflow was $615 million, ETH ETF had a weekly outflow of $320 million, with CPI exceeding expectations and delayed rate cuts as direct drivers. But on the other side, whales increased BTC holdings by 86,700 over three weeks, exchange balances dropped to the lowest level in 2023; ETH whales swept 166,000 in 72 hours, staking rate at a historic high of 36%. ETF is a tactical retreat, on-chain is quietly accumulating.
$BTC: 82,000 is the pivot, 83,000 is the gate. Only above that to look at 84,000–85,500; below 80,700–81,100 for defense.
$ETH: 2,400 just triggered shorts, 97% of 1-hour liquidations were shorts; but active longs only 53%–58%, insufficient chasing. Holding 2,400 to look for recovery, if it breaks 2,398 and open interest rises, watch for pullback.
Focus on three things: whether ETF outflows can narrow; how BTC 83,000 and ETH 2,400 are handled; FOMC on October 27–28.
Use less leverage, write more about positions and responses.
#机构资金转弱,BTC与ETH谁先迎来回流? Capital flow differentiation is obvious: BTC and SOL spot have support, ETH remains weak
Today's capital flow data shows that the three cryptocurrencies perform inconsistently, overall resembling localized buying resistance, with insufficient evidence for a comprehensive strengthening.
For BTC, the net spot inflow in the past 24 hours is about $12.26 million, while the net outflow in contracts is about $165 million, indicating some short-term buying. However, in the past 12 hours, the net spot outflow is about $90.18 million, and the net outflow over the past 30 days is about $886 million. The divergence across different time windows shows that buying and selling forces are still fluctuating, and the sustainability of support needs further observation.
ETH buying remains weak. The net spot outflow in the past 24 hours is about $63.73 million, with contract net outflow about $436 million, and net spot outflow over the past 30 days about $3.493 billion. Both spot and contract transactions tend to be active selling, which is why there is caution about ETH's rebound. The key going forward is whether selling pressure can converge and buying can continuously support.
SOL spot performance is relatively better, with a net spot inflow of about $6.42 million in the past 24 hours and contract net outflow of about $37.67 million. There is spot support, but whether it can hold the price still needs further observation.
Overall, the current market leans more towards localized buying resistance, lacking evidence for a full-strength turnaround. The operational stance remains bearish, but chasing shorts at low levels requires caution against rebound risks, with strict stop-loss settings and position control.
$BTC $ETH $SOL
#机构资金转弱,BTC与ETH谁先迎来回流?
#交易之声:你的经验值得被听到 As the third quarter earnings season approaches, attention turns to Netflix's performance
Will the company succeed in exceeding expectations and meeting investors' hopes this quarter
We notice two main factors driving the discussion about the company's financial future
The first factor is the ad bundle strategy and its rapid role in boosting financial returns.
The second factor is increasing the ad inventory fill rate to significantly raise operating profits.
I agree with the positive forecasts; Netflix's performance this quarter will be strong thanks to the advertising strategy and increased revenues.486,532 units — this pawn capture was skillful, but the record simultaneously shows a year-on-year decline. You captured a pawn, but someone exchanged your bishop in the center; the books look lively, but the position is disadvantageous.
In my view, delivery volume is just the number of pawns, determining whether you can hold your ground in the center; gross margin is the value of the pieces, the exchange rate between knights and bishops. No matter how many pawns you have or how full the board is, if the pieces are exchanged away, you won't even have a move that can deliver checkmate in the endgame. After the market closes on October 21, they will lay out the entire game record; the market's close watch on automotive gross margin and cash flow has never been a simple arithmetic problem — it's a life-or-death judgment on whether the king's wing pawn formation will be pierced. In previous years, using price cuts to gain market share was like pushing pawns too deep and too far; it looks aggressive, but behind every pawn on each channel is an empty square. Once the opponent counterattacks from the rear wing, you don't even have a diagonal line to defend.
Robotaxi and Optimus are sacrificial pieces attacking the king. Sacrificing pieces is not inherently wrong; the mistake is sacrificing without follow-up means, which is just giving them away. To advance these two lines, you must have deep rear support, namely cash flow. Once automotive business gross margin is lost, it can't support long-term investment; the offensive becomes a lone deep incursion, and the opponent's counterattack can directly take out the queen. As for the $xCRCL linkage line, it and Tesla's narrative are the two wings of the same position: the bishop moves long diagonals, the knight moves short jumps; they seem unrelated but actually share the same central square. Once the smart narrative in the US stock market stabilizes, the token side's liquidity gains the initiative; but if the automotive side's cash flow causes cracks in the overall story, that long diagonal on the far end is immediately blocked, and no matter how beautiful the knight's move, it can't be adjusted.
What I want to see is not that step in the financial report, but the guidance afterward. Data are already fallen pieces; they can't be changed; guidance is the opponent's moves not yet made. If the conference call refuses to provide a calculable timetable for Robotaxi and Optimus, it's like hiding your plan up your sleeve — a grandmaster won't panic because the opponent made a good move, but will definitely be alert if the opponent hides the next ten moves. The current position assessment is: the midgame is not over, the initiative is slight, endgame ability untested; the real risk is not those two percentage points year-on-year, but that they mistake a beautiful tactical combination for strategic depth.
Delivery numbers are just tactics; gross margin and cash flow are the pawns on the channels; sacrificial piece attacks without channel pawns are called giving pieces away in the record. #TeslaQ3ProfitAndMargins Is the market like August? Don't rush to call a bull 🐮
Right now, the market feels a bit like a "replay of an old dream": a long period of narrow sideways trading that repeatedly wears down bulls' patience, while short positions quietly accumulate, with the chip distribution quite similar to before the August rally. 📉➡️📈
In terms of rhythm, $BTC first stabilizes support and enters a range-bound tug-of-war; ETH then stops falling and steadies; SOL, as a high Beta leader, often shows stronger elasticity once sentiment ignites. Looking back at August, SOL's gains indeed outpaced $BTC and $ETH. 🚀
This round looks more like a "macro expectations + capital rotation" combined script. If BTC breaks through key resistance with volume, it could trigger concentrated short liquidations, leading to a short squeeze rally. 💥
But history won't repeat the answer exactly: the core driver in August was US Treasury liquidity benefits, which is different this time. Similar patterns ≠ guaranteed rise. Next, the focus is on whether spot buying can continue and whether SOL can show independent strength, which will confirm the sustainability of the rebound. 🔍✅#机构资金转弱,BTC与ETH谁先迎来回流? #SpaceX上市后首份完整季度财报将揭晓 A financial report preview sits on the table, much like a conceptual plan that only marks floor heights without providing reinforcement diagrams—Netflix says Q3 revenue is about $12.86 billion, up 12% year-over-year, and operating margin is expected to rise from 28.2% to 33.2%. Outsiders see the numbers climbing; I’m looking at whether this building has secretly changed its structural framework from the original load-bearing system.
First, look at the foundation. The subscription business is the raft foundation poured earliest for this building, already dense to near physical limits: the user base can’t dig a bigger pit, so the remaining growth can only come from adding floors—that is, price increases and advertising. Price hikes are like outsourcing steel to old columns; they can temporarily increase load capacity, but if reinforced repeatedly, residents will vote with their feet. The real new load-bearing wall is the advertising layer, which is still in the formwork stage; whether the concrete has been properly poured and cured can’t be verified by a quarterly report.
Next, consider that 33.2% operating margin. Jumping five points from 28.2% looks as pretty as a facade rendering, but I care about where the structural efficiency comes from: is it from optimized content spending management, or quietly cutting the amount of rebar? Content investment is the seismic structure of this building; cutting it to preserve margin is like removing shear walls to gain floor height—clean on the drawing, but when an earthquake hits (user churn, competitor impact), you’ll see who’s swimming naked.
The most critical issue is scalability. Whether a building can grow from thirty floors to the sixty you want depends not on how luxurious the top floor decoration is, but on the foundation depth and column grid layout. Netflix is now essentially hanging an advertising elevator on the already topped-out main building; the elevator shaft must share load with the original core tube, and if the interface isn’t handled well, the entire building’s stiffness will be affected. Advertising revenue growth must outpace the gravitational acceleration of content costs; otherwise, every new floor adds eccentric load to the old structure.
I’m not interested in the $xAAPL linkage line for entertainment, only whether the foundations of the two buildings are of the same soil type—in the face of systemic settlement of the market, even the most beautiful single building facade can’t hold up.
This building currently doesn’t lack the water and electricity pre-embedded by cash flow, but lacks an advertising load-bearing calculation that can withstand wind tunnel testing. No matter how steep the slope of margin increase is, it’s just scaffolding being erected quickly, not the main structure being properly inspected and accepted. #NetflixQ3AdsAndMargins A month ago they were still saying "firmly hold SOL," today they sold all 2 million tokens—so do you think the treasury company is a believer or a middleman?
SkyAI (formerly Sharps Technology) officially announced yesterday: completely liquidated all SOL, not a single token left, exchanged for $223.8 million in cash, and immediately plans to spend $201.3 million to buy back its own stock. On September 14, it still loudly reaffirmed the "SOL treasury strategy," holding over 2 million tokens, making it the world's fifth largest publicly listed SOL treasury company; a month later, the treasury is zero, and they even deleted the clause in the buyback terms requiring SOL to stay above $100—no tokens left, keeping them would be embarrassing.
Major shareholder Bastion (holding nearly 10%) immediately flipped: independent review! Buyback price raised from $3 to $3.5! No raise, no deal!
Comments opened:
A Faith is faith, but cash is cash, they sold right
B Reaffirming the strategy a month ago was just to fool you into taking the bag
Report numbers and pick sides, don’t pretend to be asleep
$SOL $ETH $BTC
#机构资金转弱,BTC与ETH谁先迎来回流? Storage stocks and the crypto market rise together: breaking down the logic
1. Why SanDisk and SK Hynix surged
The core driver for SK Hynix is AI computing power boosting HBM demand, with strong rigid demand for AI servers and full long-term contract orders; rising DRAM/NAND prices directly increase profits, combined with manufacturers controlling production and supply contraction, the industry has entered a seller's market. SanDisk benefits from the AI inference boom, with large-capacity flash storage for data centers and enterprise-grade SSD demand surging; investors provide a three-year high-growth guidance daily and promise excess cash returns to shareholders, attracting capital inflows.
Outlook: The short-term price increase cycle continues, but with large gains and heavy profit-taking, high-level volatility is likely; if AI capital expenditure expectations are downgraded, valuations will quickly come under pressure. In the medium to long term, the pace of new capacity release and concentrated supply landing may cause storage prices and stock prices to fall.
2. Reasons for the surge in BTC, ETH, and ZEC
The common underlying factors are interest rate cut expectations, declining US Treasury yields, and rising risk appetite; institutional funds continuously buy through listed companies and ETFs, combined with concentrated liquidation of leveraged shorts, creating a positive feedback loop driving prices up.
BTC's main theme is spot ETF inflows, corporate accumulation, and the halving narrative, remaining the market benchmark. ETH relies on ecosystem upgrades, staking yields, Layer 2 scaling, and ETF expectations, with funds overflowing from BTC, offering greater elasticity. ZEC follows the privacy coin narrative, with protocol upgrades and Grayscale spot ETF expectations driving small-cap rotation.
#美国CPI与PPI双超预期,年内能否再加息? $BTC $ETH $ZEC $INJ Hotspot Translation: What Happened and Who Was Affected First
Let's put the conclusion upfront: The recent $INJ price fluctuations are worth tracking, but right now they only explain why attention is focused here; they don't directly answer what the next price move will be. $INJ current price is 8.56, up 8.15% in 24 hours. Separating the events, market responses, and comment section opinions makes things much clearer.
This matter means different things to three groups of people. For those already holding, they need to confirm whether the event has changed the original fundamentals; those preparing to watch need to distinguish whether what they see is new information or price already reflecting it; those only looking at trending topics are most likely to translate an eye-catching headline directly into the next direction. The risk points are completely different for these three groups seeing the same news.
Without storytelling, here are verifiable numbers: current price 8.56, 24h +8.15%, 24h range 7.799—8.835. Short-term trend is slightly strong, longer-term trend is also slightly strong, relative volume is 0.17. If explanations don't match these facts, the explanation should be revised first, rather than cherry-picking favorable data.At dawn, a tool token explained thoroughly, two mainstreams providing support
$LAB 0.04406, down 2.54 points, tool token explained 🧪
MemesLab is a multi-chain aggregated trading terminal that gathers liquidity and trading interfaces from different public chains in one place, so users don’t have to switch wallets back and forth. It targets aggregators like Jupiter and Raydium but aims to cover multiple chains comprehensively. The problem is that multi-chain aggregation barriers are not high, and users tend to stay in their native ecosystems. The 0.044 price reflects the market’s disbelief that it can capture users. The project team’s buyback is a support measure, but buybacks don’t equal real demand. The ceiling for tool tokens depends on the number of end users, not on how big the story is told.
$BTC 81471, up 0.15 points, the only one in the two mainstreams in the green 📈ETH retreats, small coins generally fall, BTC still holds at 81471, funds are shrinking towards the largest consensus. Long-term chips are locked above 81000, the shallow drop means existing holdings are not moving, the lack of rise means no short-term inflow, stuck in the middle grinding.
$ETH 2392.93, down 0.68 points, lost the 2400 integer ⚡Fell from above 2400 to 2392, ETH has been weaker than BTC this round, staking lock-up supports the bottom but new buying is scarce, supply side is looser than BTC, after breaking 2400 it follows the market to find direction.
This article is for market analysis only and does not constitute investment advice.
#SpaceX上市后首份完整季度财报将揭晓 Is SOL busy or not? Don't just count the transfer amounts.
The base fee for $SOL is charged per signature, and the priority fee is related to the computation resource budget; it is not a fixed percentage of each transfer amount.
Therefore, a large transfer does not necessarily contribute more fees than many small transfers; the transfer amount and resource consumption are measured differently and should not be mixed.
I am more concerned about the fees generated by actual usage. The price is reported at $104.06; you can't just look at how much value was moved, but also need to see how much fee the service actually received, which is closer to the real business.
Jito behind $JTO uses pre-execution privacy and post-execution verifiable ordering in BAM, focusing on the transaction processing.
This business needs to answer why users are willing to adopt better execution, rather than just claiming the network is faster; the evaluation should be based on the transaction experience.
The token rose 0.77% in 24 hours, with a mild price response. Technology can improve service, but how the benefits translate to the token still needs separate study; product features cannot be directly converted into token price increases.
$PENGU rose 1.12% in the past 24 hours, with a trading volume of about $93.2 million, still showing active trading, but this does not represent the entire brand value.
I separate cultural dissemination and token trading for evaluation: the former expands awareness and lets more people know the name, while the latter requires sustained buying and selling demand to support it; they cannot be equated one-to-one.
Today's performance shows some participation but is not outstanding yet. Keep an eye on it, and the reason should be specific to why the token is needed, not just that people like the penguin image.$SNDK The strangest signal has appeared. Today it clearly surged by ten points, but the bulls not only didn't profit, their overall position actually lost more than 200,000 U!
Just look at the bulls' average entry price of 1391 and you'll understand everything. The early low-position chips all took profits and exited at the high of 1409. Now, those left in the market are all retail investors who chased the peak and caught the bag, hanging in midair as soon as they entered!
On the other side, over 250 short whales hold short positions worth more than 91 million U, calmly fishing. Taking advantage of the chasing buyers who just got trapped, they simply shorted along the trend at the current price and that’s it! Market Strength Ranking
5-minute median slippage, estimated by market depth
$UNITREE large sell order cost decreased, small sell orders almost unchanged. Simulated slippage for 100,000 scale sell dropped from 0.54% to 0.44%. Selling 10,000 still about 0.06%. Comparing adjacent windows, execution constraints are relaxing.The most vulnerable link is actually leverage, not the price itself. Is the number 110,000 really that far away? Looking at $BTC's market these past two days, I haven't been so concerned about the round number levels; instead, I've been focusing on the open interest and funding rates of perpetual contracts. The original text says that if the trend continues, there's a chance to reach 110,000. The direction is correct, but what truly determines whether this wave can complete is whether the derivatives market has already priced in the expectations fully. The price is still some distance from the previous high, but leverage has already heated up first. This kind of structure is most prone to the "right direction, wrong timing" scenario. Some signals I've observed: - Open interest in perpetual contracts is rising during the rebound, indicating more people are chasing longs. This is momentum but also a hidden risk. - Funding rates are positive, with longs paying to hold positions; sentiment is warm but not extreme. - Spot market is slowly accumulating, which is much healthier than adding positions in contracts. - The resistance above hasn't been effectively broken yet; the risk of a false breakout remains. My understanding is that the market is currently trading not the "110,000" level itself, but the expectation of "whether the trend can continue." Once this expectation is priced in early by contracts, the probability of a spike followed by a pullback increases. The bullish path is clear: spot market supports the bottom, funding rates are moderate, and a breakout with volume would provide a foundation for $BTC to lead $ETH and $SOL for a run. The risk lies in if funding rates quickly turn negative and open interest decreases during the spike, indicating longs are retreating, then altcoins' resilience will disappear first. Moving forward, I will focus on two things: whether spot volume supports the breakout moment, and whether funding rates suddenly change during the rally.AnchorWatch officially launches qualified Bitcoin custody service with a maximum insurance coverage of $370 million per individual client.
This company offers Bitcoin custody arrangements that meet relevant requirements for trustees, publicly listed companies, trusts, and high-net-worth individuals.
To clarify a figure: $370 million is not the scale of BTC assets it manages, but the maximum insurance coverage a single client can apply for. The insurance is supported by underwriters related to Lloyd's, with specific protection still subject to underwriting review, policy terms, limits, and exclusions.
What makes this business truly interesting is not just the insurance amount.
AnchorWatch provides different key control models. One allows clients, trustees, or company executives to retain additional keys; another shares key control among different institutions such as AnchorWatch, BitGo, and CoinCorner.
This design attempts to solve a practical problem: if all control is concentrated in one institution, what risks might clients face if that institution encounters problems?
However, multi-party custody is not simply about splitting keys. Permission design, transaction approval, coordination among institutions, and dispute resolution mechanisms are equally important.
Another design feature is a fixed USD custody fee, capped at a maximum of $10,000 per month. For institutions holding large amounts of BTC, this model helps control custody costs and avoids fees rising continuously with asset market value.Here’s the key detail: futures listings don’t automatically create buying pressure. These contracts are cash-settled, allowing institutions to manage price exposure without holding the underlying coins. Who might use them first? Miners hedging BCH revenue, funds managing UNI exposure, and treasuries locking in prices. Some may hedge by shorting rather than buying spot. The takeaway: more futures markets can mean better risk management—not necessarily a bullish signal. Don’t trade the headline. WNEAR: Up 34% monthly, but down 15.6% over the past week. Recent buyers may already be underwater. UNI: Doubled over three months, yet dropped 19% in the past month. Strong historical gains don't guarantee continued momentum. OKB: Down 7.8% weekly, despite little change over the month. Different entry points create very different outcomes. My approach: don't chase past performance. Wait for selling pressure to ease, support to hold, and a rebound to confirm before entering. The real question isn'#NetflixQ3AdsAndMargins $BTC long-short ratio was 2.78 last night, 0.73 this morning; retail traders flipped from over 70% long to nearly 60% short, yet the price rose 0.36% to 81573😵—when people turn, the market moves the opposite way.
Whales are also divided: OKEx whales ratio is 0.56 with positions down 17%, extremely bearish; another platform shows 1.95 bullish. Retail turned short, whales are betting against each other. $ETH dropped 0.15% to 2386, positions increased 1.89%, 63 million volume in 24h with 63% longs, some buyers stepped in on the dip, holding firm. $SOL rose 0.44% to 103.27, positions up 1.93%, retail 2.72 times more bullish clashing with whales extremely bearish, 10.63 million volume with 70% longs, price rising but longs are the first to sell😅.
Total network volume surged 38% to 116.5 billion, positions only up 0.41%—volume is from liquidation battles, 262 million volume in 24h with 70% longs, 90,000 buyers. No new money in, old money battling.
My view: 1. Shorts are too crowded, don’t chase shorts in the short term; 2. BTC positions flat, ETH and SOL adding positions, funds shifting backward, rebound likely led by these two; 3. Whale divergence + ETF outflow of 82.4 million, don’t get greedy chasing highs, go light on longs, cut losses if below 80800. When retail collectively shorts, the market is most irrational, I stand for the rebound. #机构资金转弱,BTC与ETH谁先迎来回流? #SpaceX上市后首份完整季度财报将揭晓 #奈飞增长或放缓,广告业务成新看点 $APR was relatively weak in the three days before unlocking, currently priced at 0.02996. Within 24 hours, the price fluctuated between 0.0324 and 0.02357, with 639 long positions forcibly liquidated totaling $550,000, while only 336 short positions worth $180,000 were liquidated. The main liquidations during the drop were leveraged long positions. The slight rebound now is a low-volume recovery; the highs on the chart have been steadily declining, matching on both sides. The fee rate for all three periods remains at 0.0050%, indicating a lack of enthusiasm, so it’s useless for judging bullish or bearish sentiment. The real pressure on the price these days is time. We backtested large unlock events and found that about three-quarters of the time, the last week before unlocking underperformed the market, with consistent direction in both sample periods. $APR is already in this window, with only three days left until 10-23; chips wanting to exit early will likely come out during these days. There is no stable direction after unlocking in the backtest; this article only discusses the period before unlocking. Conditions for a bullish reversal: a volume surge to reclaim and hold 0.0324, indicating that the supply wave has been absorbed and the weak judgment is invalid. If it falls below 0.02357, the underperformance trend for this week will continue.$BTC BTC Bearish Logic: What is truly worth worrying about may not be just the macroeconomic negatives.
I believe Bitcoin currently faces at least the following multiple pressures:
1. High interest rates and tightening liquidity. U.S. inflation remains volatile, and the market is re-pricing Fed rate hike expectations. High interest rates mean risk asset valuations are under pressure, and the opportunity cost of holding cash and short-term bonds decreases, making it difficult for BTC to remain completely unaffected.
2. Risk contagion from cooling AI trading. If the market begins to reassess the huge capital expenditures, financing costs, and investment returns of AI infrastructure, risk appetite may contract overall. As a highly volatile asset, crypto assets can easily become targets of sell-offs when funds retreat.
3. Leverage and liquidity risks. The BTC market has a large amount of derivatives trading. Once key price levels are breached, continuous forced liquidations may form a negative feedback loop: price drops trigger liquidations, which further exacerbate the decline, eventually evolving into a stampede beyond fundamental changes.
4. Pressure on institutional funds and holding vehicles. If institutions continue to reduce risk exposure, or investment vehicles highly tied to BTC face financing, valuation, and index inclusion pressures, the market may face additional sell-offs and confidence shocks.
5. The most easily underestimated long-term risk: Q-Day. The development of quantum computing is forcing the entire crypto industry to reassess the security of existing cryptographic systems. Some research suggests that sufficiently powerful fault-tolerant quantum computers in the future may break the elliptic curve digital signature used by BitcoinThe bear market has begun, and the altcoin most suitable for shorting in this bear market is this one.
Statistics show that a total of 120 million altcoins have been created in the market so far, of which 99.99% have either become worthless or disappeared. Among altcoins with trading records, 53.2% have completely lost their value. For 2,300 projects with team involvement, statistics show that the median investment return one year after issuance is -81%, meaning that 1 dollar is worth only 0.19 dollars. The essence of altcoins is unlimited issuance, unlimited inflation, and no value; zeroing out is the ultimate fate of all altcoins.
$RE was issued coinciding with the start of the Bitcoin bull market, benefiting from the bull market's gains, hardly dropping much and even experiencing several rebounds. This is partly related to RE's phased unlocking every six months. Recently, the market has turned bearish. After four years of continuous rise, $QQQ has entered a one-way downward trend, starting a long-term decline without rebounds. $RE will inevitably fully reveal its nature of unlimited issuance, unlimited inflation, and no value during this bull-bear transition. Coupled with the recent one-time unlocking of 40 million tokens and the annual unlocking of 250 million tokens going forward, a drop back to the annualized -81% return rate that it should match is the ultimate outcome for RE. It is expected that after unlocking 40 million tokens in December, RE will fall below 0.15; after unlocking 126 million tokens in June next year, it will fall below 0.07; and after unlocking another 126 million tokens in December next year, it will fall below 0.03. RE can be said to be the altcoin most suitable for shorting in this bear market. Has the altcoin season really arrived?
From the market reversal signs at the end of June this year to the phase peak reached by the end of September, quite a few altcoins have doubled in price: $ZEC +268%, $UNI +224%, $ARB +197%, $NEAR +140%...
But if you only look at the top 20 mainstream altcoins by circulating market cap at that time, the situation is not optimistic.
During this period, their equal-weighted median increase was only 47%, less than $BTC's 48%.
Among them, the 5 worst-performing large-cap altcoins not only failed to rise but had an average decline of 18%. Such extreme divergence has never occurred in $BTC's bear market rebounds with over 25% gains since 2021.
Half of the previous rebounds of similar magnitude also ended in failure.
Therefore, judging whether the bear market has bottomed out solely based on how sharply altcoins rise is not rigorous. Moreover, from the overall market level this time, it cannot necessarily be called a "sharp rise."#Institutional funds weaken, who will see the first inflow, BTC or ETH?
Institutional wallets have tightened, ETF net inflows have shrunk, and what's left in the market are all existing funds and short-term leverage fighting each other. Even if prices rise, it's hollow; a single spike can bring them back to reality.
$BTC is least affected by institutional pullback. Its buying structure is the most diversified, with treasuries and sovereign funds as the base, not concerned with short-term fluctuations; 80000 has been repeatedly hammered but hasn't broken down, with real money buying at the bottom. Last week's break at 82800 wasn't due to heavy selling pressure but because buying couldn't continue; funds quickly repaired after turning back. Watch 80000, resistance at 82800-83300; only a firm break above 83300 confirms a bullish turn.
$ETH's problem isn't lack of buyers, but lack of its own buying power; it follows BTC's rhythm, with the exchange rate remaining flat. On-chain weekly realized losses rose from 380 million to 542 million, a 42% increase, with accelerated sell-offs. But it also has the greatest elasticity; oversold conditions plus shrinking sell pressure mean it will rebound strongest when funds overflow. Watch 2400, resistance at 2466-2472; only surpassing this confirms a follow-up rally.
In short: BTC is waiting for the starting point, ETH is waiting for the second leg; don't get the order wrong. 🚀 Nvidia strikes again! The game rules of the HBM industry chain may be changing!
👀 According to Korean media reports, Nvidia has requested Samsung, SK Hynix ($SKHYNIX), and Micron ($MU) to uniformly use TSMC's 3nm process to manufacture the Base Die in the next-generation NVHBM products.
📌 Why is this worth paying attention to?
The Base Die is located at the bottom of the HBM stacking structure and is responsible for key tasks such as control logic and data transmission. More importantly, NVHBM plans to integrate some memory control functions originally handled by the GPU, which means HBM is no longer just about pursuing storage capacity and bandwidth but is gradually moving towards the design and manufacturing of advanced logic chips.
🔥 There are three major highlights behind this:
1️⃣ Performance standardization: Unified advanced process is expected to narrow performance differences among different suppliers, making product collaboration smoother.
2️⃣ Industry chain integration: A unified manufacturing route may simplify verification processes and system integration, accelerating the deployment of next-generation AI hardware.
But who ultimately benefits depends on yield, cost, mass production progress, and customer demand. Unified process does not mean all manufacturers
💬 Do you think this will further consolidate Nvidia's dominant position in the industry chain, or will it give TSMC greater bargaining power?
#NVIDIA #AIchip #HBM #TSMC #SKHYNIX #Micron #Semiconductor #AIinvestment #奈飞增长或放缓,广告业务成新看点 "Recovery" ranking race before the rate decision night (。•̀ᴗ-)✧
With the Federal Reserve's rate decision approaching on the 27th, long-term U.S. Treasury yields keep hitting new highs, and liquidity pressure hasn't eased yet. $ETH, $SOL, and $OKB are all sensitive to interest rates, but who recovers first follows different scripts.
$ETH feels like the forgotten second-in-command: lingering below 2550 for too long, continuous ETF outflows, social sentiment is bullish, but capital is cold. Institutional withdrawals have pushed it down; the narrative exists, but the real money is missing. Without reclaiming 2550, it still struggles to shake off the "high Gas second" label. (。•́︿•̀。)
$SOL has ecological catalysts: Alpenglow launching on 10/21 with a hardcore 150ms finality confirmation. But ETFs are also withdrawing; whether upgrade expectations should be priced in early depends on the launch performance. Currently, it's a tug-of-war between "good news pending realization + market suppression." (ง •̀_•́)ง
$OKB acts more like a follower: correlation with BTC is 0.85, funding rates unusually bearish, and open interest extremely low. $113 is the pivot; it has no independent macro narrative and can only watch BTC's mood. Without its own market, don't rush to expect a breakout. ( ̄▽ ̄)
Before the rate decision, don't guess who will fly first; watch who can first hold the key levels. With liquidity tight, rebounds are easily discounted~ 😉
#机构资金转弱,BTC与ETH谁先迎来回流?
#美债收益率频创新高,长期利率压力未缓解 The new week has just started, first let's review last week: 📉 Holding ETH definitely doesn't feel as good as BTC. The ETH/BTC exchange rate continues to decline, BTC is consolidating at a high level, while ETH keeps bleeding repeatedly; ETF funds are still flowing out, it often ranks high on the liquidation list, spot support is weak, and the more it falls, the fewer people dare to catch the knife. 😮💨
BTC, on the other hand, is stable: bulls dominate, positions haven't changed much, price holds at a high level, and it hasn't been dragged down, truly a "steady anchor." 🪨 SOL is more interesting: fees are close to zero, neither bulls nor bears want to bet, positions have shrunk the most, leverage has been cleaned out the most. The more thorough the washout, the lighter the burden when it rebounds later. 🧼
Relative strength: BTC is the most stable, SOL the lightest, ETH the weakest. 📊
Personal observations:
① Don't rush to catch ETH yet, it is still weakening against BTC, catching the falling knife too early risks getting stuck halfway up the mountain, wait for a more solid signal; ⏳
② BTC is the current anchor, check its condition before making a move, as long as it doesn't fall, the overall market is unlikely to collapse; ⚓
③ Put SOL on the watchlist first, leverage has been cleaned out, it may have the best elasticity when it truly rebounds. 👀
There are many variables this new week, stay clear-headed to make your positions more valuable. 🧠✨#奈飞增长或放缓,广告业务成新看点 这句话,是我今天复盘时脑子里蹦出来的第一个念头。 散户盯着日历,数着日子等利好。 但在我眼里,这恰恰是狗庄最容易做文章的时间窗口。 利好落地之前,才是主力最喜欢动手的时候先拉后砸,把你们的预期打乱,再收割。 看一眼这4小时图,ZEC从1048弹回1164,看着像企稳? 你去看看量能,缩得跟什么似的。 上方EMA20均线压在1144附近,价格冲上去就被摁回来,MACD在水下冒的那点红柱,连零轴都够不着。 这种结构,就是典型的下跌中继,不是反转。 NU7升级,10月20日才做最终决定,主网目标11月5日。 但灰度ZCSH的ETF资金,10月12日还在净流出170万美元,10月17日又流出121.97万。 机构在用脚投票,散户在盯着日历等利好。 谁更清醒? 我1339的空单,浮盈473%,强平价1728,中间隔着快600刀。这个仓位,我有足够的资本等它把戏演完。 操作思路没变:反弹到1180-1200的套牢区,是我加仓滚空的位置。如果连1150都站不回去,直接跌破1048前低,那下方就是真空区,800见。#机构资金转弱,BTC与ETH谁先迎来回流?
This round of rebound is driven by contract leverage funds; ETF institutional funds are generally withdrawing, not an active institutional buying pushing the market up.
Currently, ETF funds continue to flow out, institutional demand weakens, long-term selling pressure remains, and after a possible sharp decline, a short-term oversold correction rebound may occur.
At present, it is very likely just a short-term correction caused by overselling, not a reversal market of institutional funds returning. ETF funds are still withdrawing, the overall trend is weak, and the battle between bulls and bears is intense.
$BTC $ETH $ZEC $PHA
$STRK Long from 0.0575, mid-term 2000%
PHA does not have quantum resistance, explained in one sentence
Many people confuse Phala's privacy computing with quantum resistance.
🔹 Its strength: TEE Trusted Execution Environment + Fully Homomorphic Encryption, protecting data privacy in AI computing—SGX/TDX hardware isolation, off-chain data is not leaked.
🔹 Its weakness: PHA wallet signatures use traditional elliptic curves (Sr25519/Ed25519/secp256k1), which can be broken by Shor's quantum algorithm. Once the public key is exposed, the private key can theoretically be derived.
⚠️ Key distinction:
TEE/FHE protects computation data, but cannot protect your PHA token transfers. Hardware security ≠ quantum-resistant cryptography.
In comparison: STRK plans to replace the entire chain with quantum signatures by 2027, solving token quantum resistance at the base layer; PHA currently has no implemented upgrade plan, a hard fork to switch to NIST signatures is a long-term plan with no timetable.
📌 My judgment:
PHA is not a quantum-resistant coin, which is a neutral fact—quantum computers are still far from practical use and not an immediate threat. What really matters is whether the project team will move the post-quantum upgrade from a "long-term plan" into the roadmap.
How many of the coins you hold have seriously done quantum resistance assessments? This question will be very valuable three years from now. #CoreWeave减持33亿,AI融资风险升温
🔥3.3 billion. CoreWeave's recent sell-off has torn open the veil of “AI computing power will always rise.”
Previously, big companies were crazily buying GPUs and renting computing power, and everyone thought this sector had endless money. Now? Even the big renters of computing power are cashing out at high levels. What does that mean?
It means the AI financing game of hot potato is nearing its final round. Money in the capital market doesn’t come from thin air; when there’s no hope of profit, people retreat faster than anyone else.
What does this have to do with the coins we hold?
A lot. Those “decentralized computing power” and “AI mining coins” in the crypto world usually brag about competing with Nvidia when the market is up; now that AI giants are cashing out and financing risks are heating up, these coins propped up purely by stories are about to show their true colors. The big players are eating the meat without sharing with you, and when they pull the chair, you’re going to fall hard.
Looking back at the big picture: PPI is exploding at 6.3%, US Treasury yields are high at 5.6%, Bitcoin is grinding at 84,000 making people sleepy, and options volatility is at a five-year low. The market is already parched, and now with this cold splash from AI, hoping for a comeback from concept coins? Purely dreaming.
Don’t bet on any “computing power coins” for a rebound after overselling; the environment has no liquidity, it’s all flying knives.
If the AI bubble really bursts, the first to be sacrificed will definitely be those profitless vapor projects. Hold your wallets tight, wait for these folks to lose their pants, then we’ll enter with USDT to clean up the mess.👇It seems to still be testing the 83000 resistance upwards, but in reality, USDC has already seen a net outflow of 84 million on the market.
As long as ETF inflows on Monday are less than 100 million, the price will have to retreat back to the bottom of the range to find support.
Currently, the market remains stuck oscillating between 80k and 83k. Without an effective breakout or breakdown and stabilization on the 4-hour level, intraday attempts to reach highs are blocked, and the pullback continues to target around 80k.
The area near 80k has been tested twice recently, consuming a lot of buy orders below. Next time it retests, it must be seen whether volume can support a valid rebound; if it breaks below 80k, it will plunge sharply.
Compared to data on October 18, the total market cap on the market hasn't changed, USDT slightly increased by 44 million, but USDC outflowed 84 million. Judging by this trend, Monday's ETF inflow won't be very large.
If net inflow is weaker than 100 million, the capital side cannot be considered reversed. A rise must be validated by real money; rebounds without capital support must be wary of false breakouts.
#机构资金转弱,BTC与ETH谁先迎来回流? Risk assets got hit together: stocks down, $BTC down, $ETH down.
Reason was simple: hot inflation, strong dollar at 18-month high, yields at 5.08%. Fed cut odds dropping.
But $BTC at $82k showing resilience while DXY at 102.5. That's strength.
When dollar rolls over, risk will bounce hard. Until then, expect choppy.
Don't overtrade chop. Wait for trend.
$BTC $ETH At midday, BTC was the only one showing a slight rise, while the other four positions hung gray and downcast. This scene of "only the big brother still standing" feels somewhat familiar, doesn't it? When I watched $BTC at 81,471, slightly up 0.15, the feeling was not of strength but a subtle hesitation. The long positions locked above 81,000 remain, indicating that big money has no intention to withdraw, but also no intention to chase. The other four positions are each finding their own footing, with no one willing to move first. This is the truest expression of midday: not panic, but fatigue. Let's first look at the main theme of capital preference. $OKB slid from 117 to 114, down 1.39; it has always been a leading indicator of platform sentiment. The narrative of monthly burn remains, but in the short term, it clearly follows the exchange's rhythm and is not synchronized with the broader market. When the platform coin softens first, it often means trading heat is cooling down, which is more worth noting than the price itself. $ENA at 0.18554, down 1.94, still has scale, but the market has become cautious in pricing the "extreme de-peg risk," suppressing valuation. The model is not denied, but no one is willing to pay a premium at this level. $BICO at 0.01630, down 2.04, no matter how well the infrastructure story is told, the market is currently unwilling to pay for it. Trading volume is slowly accumulating, waiting for sector maturity rather than sentiment. The most eye-catching is $RE at 0.38090, down 4.60; the 0.41 bottom was broken down to 0.38. The order book is too thin; a single sell order can hammer down more than four points. The logicOn Monday, spot gold at 4200 continued to face pressure
And tonight's rebound in the US stock market just proves the point in my first chart
"With the AI technology sector warming up, gold is falling accordingly"
But this is only a short-term seesaw relationship
In the long term, no matter the sector, continuous capital injection is needed $RE, an altcoin that rode the bull market hype, is now giving back the inevitable decline to the market.
In August 2026, Bitcoin started a new bull market. Bitcoin's market dominance rose from 56% to 60%. Despite hundreds of altcoins being issued in the market, Bitcoin's market share has steadily increased over recent years. The fundamental reason is simple: Bitcoin is the global consensus, unique with a capped supply of 21 million coins, which gives it anti-inflation properties. In contrast, altcoins can be issued endlessly, can be minted without backing, and can be created without any mining power. Therefore, altcoin inflation is infinite. Essentially, altcoins are worthless paper disguised as digital currency.
Statistics on 2,300 digital currencies issued over the past few years show that one year after issuance, the average investment return for altcoins is -81%, meaning 1 dollar is worth only 0.19 dollars.
After $RE was issued and listed, it coincided with the start of the Bitcoin bull market, benefiting from the bull market's gains and did not immediately enter a decline phase; instead, it experienced several rebounds. Recently, as the US stock market officially entered a bear market with a one-sided decline, $RE is approaching the unlocking of 40 million coins. This bull-to-bear transition will inevitably strip away the altcoins' false facade, revealing their true nature of unlimited issuance and infinite inflation. Zeroing out will be the ultimate fate of altcoins. The digital currency market will ultimately belong to Bitcoin.