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MARA Holdings CEO Fred Thiel stated to shareholders that Bitcoin mining remains the core business of the company. Bitdeer Chief Strategy Officer Haris Basit mentioned that the company does not wish to rely on any single market cycle. Amid the sell-off of artificial intelligence stocks, some large Bitcoin mining companies that had previously shifted towards AI infrastructure are re-emphasizing their cryptocurrency business.After the Bitcoin halving in 2024, mining profit margins are being squeezed, and several mining companies are expanding their business into AI infrastructure. Recently, IREN and CoreWeave's stock prices have plummeted, with CoreWeave's bond yields reaching junk bond levels, and Bitcoin prices have also fallen from the historical high set in October 2025.

According to The Information, sources say that with Jensen Huang's departure, an anonymous executive from a cloud service provider that is purchasing NVIDIA chips revealed that the company is considering sourcing alternative chips from companies like Google and AMD.The executive stated that the company had previously considered diversifying suppliers but was concerned about offending Jensen Huang.

Cryptocurrency exchange Gemini announced its third-quarter financial report, with total revenue for the quarter at $40.9 million, a year-over-year decrease of 19% and a quarter-over-quarter decrease of 10%, compared to $50.6 million in the same period last year. The net loss narrowed to $58.6 million, down from nearly $160 million in the same period last year and $107.7 million in the second quarter. After the financial report was released, Gemini Space Station Inc. (GEMI) saw its stock price rise 6.5% in after-hours trading to $2.79, but the cumulative decline for the year remains around 75%.The trading business is under significant pressure. Affected by the drop in trading volume from $16.4 billion in the same period last year to $4.5 billion, exchange business revenue fell 47% to $13.4 million, although trading volume increased by 18% quarter-over-quarter. Revenue from credit card operations decreased by 4% quarter-over-quarter to $15.5 million, while platform assets grew from $8.4 billion in the second quarter to $13.4 billion. Operating expenses decreased by 30% year-over-year to approximately $120 million. CEO Tyler Winklevoss stated that operating expenses have decreased for the third consecutive quarter, maintaining spending discipline while investing in growth.Forecasting market operations became a highlight, contributing $800,000 in revenue for the quarter, a quarter-over-quarter increase of 52%. The company is pushing to open its exchange and clearinghouse to brokers wishing to offer event contracts and signed a letter of intent with Apex Fintech Solutions in August to provide cryptocurrency event contracts, although this deal has not yet been finalized. President Cameron Winklevoss stated that Gemini 2 bets on platforms that can sustain themselves long-term will control the underlying regulated infrastructure.

The Japanese yen fell below the 160 mark against the US dollar for the first time since September, weakening for the third consecutive trading day. The US-Japan interest rate differential exceeded 250 basis points, increasing the pressure on the yen to depreciate.Jun Mimura, an official from Japan's Ministry of Finance, stated that the recent fluctuations in the yen's exchange rate have been "too rapid," and mentioned previous interventions in the foreign exchange market. Japan intervened in the foreign exchange market three times this summer, utilizing a total of 15.4 trillion yen (approximately 96.4 billion US dollars).

The Kremlin announced that Putin and Trump plan to meet at the Asia-Pacific Economic Cooperation summit.

According to Gate market data, after the U.S. stock market opened, Nvidia's stock price rebounded strongly, currently reported at 160 USD, having erased the decline following Jensen Huang's resignation announcement.

According to Unfolded, citing CFTC position report data, as of November 3, the net short position of leveraged funds in CME standard Bitcoin futures has decreased to 12,955 BTC, down 89% from the peak of 115,985 BTC on December 17, 2024, marking the lowest level since February 2023, indicating that hedge funds have significantly closed their Bitcoin basis trades.Unfolded stated that the arbitrage buying that previously boosted ETF inflows has essentially disappeared, and the capital flow into spot ETFs will more reflect genuine directional demand, with structural buying that can act as a buffer during price declines also decreasing.

Inflation data for October in the United States sends multiple warning signals. The data shows that the core CPI rose by 0.3% month-on-month, higher than the market expectation of 0.2%, exceeding expectations for the third consecutive month; the overall CPI rose by 0.4% month-on-month, also above expectations. The impact of rising energy prices is spreading to areas such as food and transportation, and service inflation remains robust, further complicating the Federal Reserve's efforts to control inflation.Specifically, food prices in the U.S. rose by 0.5% month-on-month in October, with grocery prices recording the largest monthly increase since April; urban transportation service prices saw the largest monthly increase since 2020, and prices for airline tickets and delivery services also increased. Additionally, service prices excluding energy and housing rents rose by 0.4% month-on-month, while owners' equivalent rent increased by 0.3%.AI investments are bringing new cost pressures. Over the past three months, the annualized price increase for computers and peripheral devices in the U.S. reached 25%, and electricity prices rose by 0.9% month-on-month in October, marking the largest increase in six months. Morgan Stanley estimates that AI-related factors have contributed about 6 basis points to the core CPI this year, with the current impact still relatively limited, but as data center investments expand, related pressures may rise further.In terms of monetary policy, Chicago Fed President Goolsbee described the latest inflation data as approaching an alarming level. Fed Governor Waller previously stated that if the core CPI month-on-month increase reaches 0.3% or higher, the December meeting should consider raising interest rates by 50 basis points. Goldman Sachs has included a forecast for an additional 25 basis point increase in March 2027, expecting that the target range for the federal funds rate will rise to 4.25% to 4.50%. However, some economists warn that there is a lag in the transmission of energy prices, and over-reliance on current data may lead to excessive tightening of monetary policy.

Dunamu's Vice Chairman Kim Hyung-nyun stated at the Seoul Digital Asset Policy Conference that the stock tokens of South Korea's representative companies, Samsung Electronics and SK Hynix, can only be traded overseas. This situation is distressing. He also officially announced that Dunamu has completed the technical preparations for stock tokenization, and relevant services can be launched at any time once the regulatory system allows.In addition, the conference also discussed the legislative process of the "Basic Law on Digital Assets." South Korea's Democratic Party member Min Byung-deok advocated that the bill should be passed in the current regular National Assembly, no later than January 18 of next year. South Korea's People Power Party member Park Soo-min stated that legislation should not be rushed and called for a comprehensive allowance for institutions and legal entities to invest in crypto assets.

Arthur Hayes is optimistic about Anthropic's initial public offering performance, stating that he is increasing his crypto risk positions and maintaining a small to medium size for quick liquidation when necessary.

Glassnode posted on platform X that Bitcoin has fallen below the short-term holder cost price of $75,600, underperforming compared to U.S. stocks, and the funds that could drive its rise are continuously flowing out. Currently, about 35% of short-term holders are in profit, with sellers averaging small losses.In terms of capital, the total supply of stablecoins has decreased by $14.2 billion over the past 30 days, marking the fastest contraction since June 2022; the U.S. spot Bitcoin ETF has seen a net outflow of $1.6 billion over the past 20 trading days; excluding the impact of USDT falling below $1, the 30-day average premium on Coinbase has remained negative, with the discount being the deepest since February. On the macro front, the two-year U.S. Treasury yield is at 4.75%, which is 75 basis points higher than the current 4% rate of the Federal Reserve, indicating that the bond market expects further rate hikes, but it is far from the level of 244 basis points in June 2022.However, there are also positive signals, as the decline has cleared most of the long leverage near the price, with the largest concentration of liquidations located between $59,500 and $62,600; since the sell-off on November 5, buy orders within a 5% price range in the Binance and Coinbase spot order books have consistently outnumbered sell orders; wallets holding between 100 to 1,000 BTC and 1,000 to 10,000 BTC have started to accumulate over the past week.Glassnode stated that if it returns to $75,600, it will support the judgment of a trend reversal in August; if it continues to fall below $73,000, it may enter a longer period of consolidation; if it closes below the June low of $58,500, the trend reversal since August will be broken.

Brian Hong announced that he has joined the social trading application fomo, responsible for the Asia-Pacific region. Brian Hong previously publicly identified as the head of growth for consumer blockchain Abstract in the Asia-Pacific region. He stated that many high-quality trading ideas around the world have never left the language in which they were originally written; traders in Seoul and New York can focus on the same asset for months but do not have access to each other's work. Both parties see the same prices, but the ideas behind the trades remain trapped in circles separated by language, local communities, and existing information flows.He wrote that for nearly a decade, he has been connecting products, services, and information between the East and West. Products are now easier to cross borders, but ideas are not; he feels this most acutely in the market, where some ideas with significant upside potential remain confined to a single language and community. He stated that fomo is the first product that makes him feel this situation can change, as it does not require consideration of chains or cross-chain bridges; it faces a single market where information flow shows what people are actually buying. A trade does not need translation; ideas from Seoul can reach New York on their own, with attribution remaining with the originator.Brian Hong expressed that this feeling has not faded, and he agrees with fomo's direction and development team, and will help grow a product he already uses daily. He referred to the Asia-Pacific as the most important region for this matter, but the Asia-Pacific is not a single location; the languages, cultures, and platforms differ. Most of what happens here exists in communities that are not visible to the outside world. Introducing users is only part of the work; a larger part is putting ideas that the world has yet to see onto the same map. He has opened private messages to traders, large players, creators, and chain builders in the region.

After the CPI data was released, the yield on U.S. Treasury bonds expanded its gains, with the latest 10-year Treasury yield rising by 9.03 basis points to 4.952%.The latest 2-year U.S. Treasury yield increased by 16.54 basis points to 4.715%.

After the speech by Federal Reserve Governor Waller, the market has further increased its bets on the Federal Reserve raising interest rates, and it has now fully priced in the expectation that the Federal Reserve will raise rates by 25 basis points in December.Waller stated that even if the October CPI improves compared to September, it will still support a 25 basis point rate hike in December. If the October core CPI rises around 0.3% or higher, the Federal Reserve may need to raise rates by 50 basis points in December.

Federal Reserve Governor Waller stated that even if the October CPI improves compared to September, it will still support a 25 basis point rate hike in December. If the October core CPI rises by around 0.3% or higher, the Federal Reserve may need to raise rates by 50 basis points in December.

According to Business Wire, digital asset infrastructure company BitGo has released its latest financial report, showing a net income of 44.1 million USD for the third quarter of 2026, primarily driven by the appreciation of digital asset treasury, compared to a net loss of 19 million USD in the previous quarter. Adjusted EBITDA loss was 4.3 million USD. Total revenue was 2.85 billion USD, a year-on-year decrease of 50.9%, mainly affected by a decline in digital asset sales activities due to a weak cryptocurrency trading environment.As of September 30, platform assets amounted to 59.9 billion USD, with staked assets at 10.5 billion USD; after adjusting for a uniform price, platform assets and staked assets grew by 32% and 41% year-on-year, respectively. BitGo completed the acquisition of NYDIG's institutional trading business during the quarter and expanded its OKX over-the-counter settlement integration, while also repurchasing 24.7 million USD of common stock. Based on the September 30 price, the end-of-quarter platform assets were 83 billion USD, and staked assets were 16.3 billion USD. The company holds 2,399 of its own bitcoins, valued at 200.4 million USD.

According to a chart shared by trader Ansem, the ascending wedge that appears after a significant decline may be accompanied by decreasing volume, indicating that the upward momentum is weakening.The chart points out that this trend may entice traders to re-leverage as prices form higher highs and higher lows; if prices drop rapidly, stop-loss orders near the lows along the way may trigger selling. The top of the wedge may also coincide with a higher resistance level from before the previous decline.