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Analyst Jukan posted on platform X, stating that Nvidia chips are currently still in short supply, but to maintain the premium for chip scarcity, the company needs to continue supporting emerging cloud service providers (Neocloud). If the new CEO adopts a more cautious attitude towards this business model, it may lead to pressure on GPU spot prices, a decline in cloud service providers' profit margins, and prompt them to turn to alternatives such as AMD or Google TPU, thereby weakening Nvidia's market dominance and supply chain control.Jukan stated that Jensen Huang has been working hard to maintain Nvidia's growth flywheel, which not only helps to expand chip demand but also ensures the computing power utilization of emerging cloud service providers. Huang originally hoped to gradually let go once the emerging cloud service providers could independently order the next generation of GPUs, but it is currently uncertain whether the successor CEO is willing to wait.

Tron, Tether, and Chainalysis announced the establishment of a joint initiative called the "Digital Crime Task Force," aimed at identifying and combating illegal activities utilizing USDT on the Tron blockchain. The three parties stated that the task force will collaborate with law enforcement agencies through intelligence gathering to shorten the interval from threat identification to enforcement action, accelerating the asset freezing process before criminals can transfer funds. Tron founder Justin Sun stated that millions rely on USDT on Tron to sustain their livelihoods and businesses, and as digital finance reaches more people, the ability to protect must also be enhanced accordingly.The establishment of the task force comes against the backdrop of rising threats from AI-driven scams and cyberattacks in the cryptocurrency industry. Chainalysis pointed out that by 2025, the profit efficiency of AI-enabled scams will be 4.5 times that of traditional methods, with identity impersonation scams increasing by over 1400% year-on-year. Tether CEO Paolo Ardoino stated that criminals are using AI to accelerate their actions, and waiting for victims to report is no longer sufficient; Tether has collaborated with over 360 law enforcement agencies in 73 countries to freeze over $7 billion related to illegal activities.The task force plans to cover threat types including investment and romance scams, hacking attacks, terrorist financing, and North Korea-related cyberattacks. This formation follows the dissolution of a previous alliance: in 2024, Tron, Tether, and TRM Labs established the "T3 Financial Crime Group," which, according to Bloomberg earlier this month, was disbanded due to slow response and lack of coordination among members. Earlier this week, the cross-chain interoperability protocol Across resumed operations after experiencing a domain hijacking, and blockchain infrastructure provider Chainstack also disclosed that it faced an AI-driven security breach last month, leaking customer names, emails, and password hashes.

CryptoQuant analyst Darkfost stated that within less than a month, the open interest of BTC on the Binance platform has decreased from 10.6 billion dollars to 8.8 billion dollars, a drop of 17%. Meanwhile, its 180-day moving average has risen from 8.4 billion dollars to 8.6 billion dollars. As the open interest falls below the moving average, new signals of deleveraging are emerging in the market. In a bull market phase, this signal typically appears when market corrections are nearing their end, reflecting that traders are reducing their leveraged exposure, which includes both voluntary liquidations and forced liquidations due to insufficient margin.Aside from the fact that this process may last for months in a bear market, a similar signal last appeared in June of this year when the BTC price was below 60,000 dollars, subsequently rebounding to above 87,000 dollars, with an increase of over 45%. Currently, as the open interest declines, the market is also experiencing large-scale liquidations. Low volatility seems to encourage some traders to take on higher risks to compensate for the insufficient returns brought about by the narrowing price fluctuations, making them more susceptible to market reversal shocks. Over the past three months, the monthly liquidation scale on Binance has reached new highs since 2021: over 1.4 billion dollars in August, 1.1 billion dollars in September, and 1.3 billion dollars in October. This trend appears to continue into November, with the liquidation scale exceeding 520 million dollars before the end of the first half of this month.These data highlight the potential losses that leveraged trading can bring to investors. In a market environment with low volatility and shrinking trading volume, blindly increasing risk exposure due to a lack of patience can quickly lead to heavy costs. However, the deleveraging phase also helps improve the market environment. Reducing leveraged positions can lower the risk of cascading liquidations, allowing spot demand to play a greater role in market pricing, thereby helping Bitcoin establish a more robust market structure.

According to Fortune, AI sales startup Rox has completed a $100 million Series B funding round, with a valuation of $1.3 billion. This round was co-led by General Catalyst and March Capital, with Sequoia and GV continuing to invest, and Prosperity7 joining as a new investor.Rox stated that its AI agent can research customer accounts, recommend priority follow-up targets, and prepare customer outreach efforts.Rox co-founder Ishan Mukherjee said the new funds will be used for more AI research and product development, and the company plans to expand its sales, marketing, and business teams in the U.S. fivefold next year.

CryptoQuant analyst Darkfost stated that the Spent Output Profit Ratio (SOPR) of short-term Bitcoin holders has dropped to 0.98, remaining in negative territory since October 30, indicating that this group has begun to realize losses when selling Bitcoin.This metric measures the profit and loss realized when UTXOs are spent. Each UTXO has its own cost basis; when Bitcoin is moved, old UTXOs are destroyed, and new UTXOs are generated at new realization prices. SOPR calculates the difference between the two. This round only counts short-term holders, whose monthly average once reached 1.013 but has now fallen back to a neutral level of 1, erasing average profits.Darkfost noted that recent data suggests the market is leaning towards a capitulation phase. He believes that in a long-term bull market, a negative SOPR often corresponds to buying opportunities, but the monthly average has yet to reflect this, and capitulation may continue for several more days before reaching extremes.

CryptoQuant analyst Darkfost stated that since October, Bitcoin has undergone a chip distribution phase, resulting in a correction of about 15%. Currently, losses dominate after the profit-taking phase of short-term holders (STH).In the past 24 hours, short-term holders have sent 48,500 BTC to exchanges, of which 47,300 were sent at a loss, making it one of the strongest STH capitulation behaviors in recent months.

CryptoQuant analyst Arab Chain stated that Binance's estimated leverage ratio for XRP has dropped to about 0.14, the lowest level in three months.

In October, the U.S. CPI exceeded expectations. After the data was released, BTC briefly fell to around $73,000, and the market began to bet on a 50 basis point rate hike in December. In response, Cloud, the chief analyst at Huobi HTX, believes that the probability of a 50 basis point hike is low, and a 25 basis point increase remains the baseline scenario. The current decline is more akin to a pricing correction.There are three reasons: The Federal Reserve values the continuity of data, and historically, there are very few cases where a single month's CPI jump has changed the pace of rate hikes; a single month of exceeding expectations is insufficient to overturn the gradual path; the current inflation stickiness mainly stems from the lagged transmission of tariffs and rents, which will naturally diminish, and marginal employment is also weakening. The committee has no reason to impose aggressive tightening at the peak of transmission; the credit spread has widened from 93 basis points to 348 basis points, financial conditions have effectively tightened, and adding another 50 basis points would actively create financial stability risks.In the crypto market, funding rates have turned negative, and the open interest in perpetual contracts has decreased by nearly 20% in a week. The fear and greed index has fallen into the deep fear zone, and the clearing of leverage has been relatively sufficient, limiting the space for further short-term declines. However, an oversold situation does not mean an immediate rebound; confirmation is needed for CPI to fall in the next two months. If inflation exceeds expectations for two consecutive months and a 50 basis point hike is realized, a trend decline will begin, but currently, this scenario seems unlikely.Note: The content of this article does not constitute investment advice, nor does it constitute any offer, solicitation, or recommendation of investment products.

According to on-chain analyst Yu Jin's monitoring, the whale @fiyopi recently opened a long position of 24,500 ETH (worth 50.59 million USD) on Hyperliquid at 2,207.5 USD, currently facing a loss of 3.5 million USD. One of their addresses is named "Machi is ugly dog."

Cryptocurrency analyst Tom Wan posted on the X platform that the market share of Ethereum stablecoins has dropped to 46%, a historic low. Over the past year, the supply of stablecoins on the Ethereum chain has decreased by $32.5 billion, while the total supply of stablecoins in the entire market has only decreased by about $10 billion.During the same period, the supply of Tron stablecoins increased by $16.2 billion, raising its market share to 32%; Hyperliquid and Solana increased by $1.6 billion each. Additionally, the newly launched blockchains this year, including Arc, X Layer, Robinhood Chain, Tempo, and Monad, collectively added about $5.2 billion in stablecoin supply.

According to Onchain Lens monitoring, the Binance hacker has transferred or laundered nearly 900 million dollars in funds, out of an estimated total of 6.34 billion dollars in stolen funds: 891.37 million dollars may have been transferred or laundered; 2.85 billion dollars is still under the hacker's control; 2.6 billion dollars has been frozen.In the past 2 to 3 days, the hacker has been actively transferring funds through THORChain and Chainflip.

CryptoQuant analyst Darkfost pointed out that the funding rate for XRP perpetual contracts on Binance has risen to its highest level in over a year. The last time such a high rate was observed was in October 2025, shortly after XRP set a record of $3.55. Currently, XRP has retraced about 30% from its previous peak, but the XRP derivative positions on Binance still lean bullish, showing signs of a crowded long position.Meanwhile, the spot XRP ETF recorded one of its worst performances of the year, with a net outflow of approximately 9.37 million XRP, valued at $10.4 million, contrasting with the bullish positions on Binance. Darkfost noted that shifts in market sentiment often occur in the later stages of a rebound, and as prices pull back, maintaining a bullish preference may face risks.

According to CoinDesk, Bitcoin traded below $75,000 on Tuesday morning as the market awaited the U.S. October CPI data. Economists expect the overall CPI to rise 0.3% month-over-month, with core CPI rising 0.2%, both slowing compared to September. Due to the U.S. government shutdown last October, the Bureau of Labor Statistics was unable to compile a complete index, so there is no year-over-year data this time.BRN analysts stated that any easing of inflation expectations would benefit risk assets, but Bitcoin needs real buying pressure. Until ETF fund flows turn positive and the Federal Reserve shifts to a dovish stance, the path of least resistance remains downward. Bitget Wallet analysts believe that moderate inflation data could trigger a brief rebound, but Bitcoin's sustained recovery depends on improved liquidity and spot demand. Analysts pointed out that if Bitcoin closes below $73,000 on a daily basis, it could trigger momentum selling down to $70,000; the $73,000 to $74,000 range is a key support zone, and reclaiming and holding above $80,000 would indicate increased demand.

CryptoQuant analyst PelinayPA pointed out that the price trend of Ethereum is diverging from staking activity. The staking rate for Ethereum 2 has increased by about 4.32% since May, with approximately 36.32% of the total ETH supply currently staked.Although the price of ETH on Binance has dropped from around $2,800 in October to $2,132, the staking rate continues to rise, indicating that investors have not significantly reduced their staking commitments due to the weak price. Analysts believe that a higher staking participation rate reduces the supply of ETH available for trading, which may provide price support when demand is strong, but staked ETH is not permanently locked, as validators can initiate withdrawals.At the same time, total staking inflows have decreased by 40.11%, highlighting the importance of distinguishing between long-term staking growth and daily inflow activity. Overall, Ethereum maintains a potentially supportive supply-side dynamic in the medium to long term; if the market can absorb selling pressure and attract sufficient demand, ETH may lay the groundwork for a stronger upward trend.

Cryptocurrency analyst Darkfost posted on the X platform, stating that while the cryptocurrency market is weakening, the trading volume of tokenized gold products has rebounded against the trend. The total trading volume of gold-backed products on the Binance platform has exceeded 8 billion dollars since its launch; excluding the peak trading volume during the initial launch period, the trading volume in the past 7 days has reached a new high of over 325 million dollars, with a single-day trading volume of 78 million dollars.According to CoinGecko data, the total market capitalization of tokenized assets is currently about 50 billion dollars, with commodity assets nearing 6 billion dollars in market value, and gold holding a significant share. However, Darkfost reminds that the price of gold has retraced over 30% since the beginning of the year and is currently stabilizing around 4,000 dollars per ounce.

CryptoQuant analyst Darkfost pointed out that the market capitalization of altcoins has shrunk by about 200 billion dollars, with about 70% of altcoins on Binance falling below the 200-day moving average. From mid-August to the end of September, the market capitalization of altcoins, excluding Bitcoin and stablecoins, had increased by 320 billion dollars, but the subsequent pullback erased most of the gains.Darkfost stated that in mid-August, 82% of altcoins on Binance were below the 200-day moving average, and by early October, this proportion had dropped to 10%, with nearly 90% above that average. Following this, the macro and political environment deteriorated, with central banks in the US, Europe, and the UK raising interest rates, and the results of the midterm elections increasing uncertainty. The stock market, especially technology stocks, saw a significant decline, with the Nasdaq falling 14% from recent highs.As a result, the market capitalization of altcoins has shrunk by about 200 billion dollars, erasing nearly two-thirds of the gains from August to September. Currently, about 70% of altcoins on Binance have fallen below the 200-day moving average, and this proportion is approaching 80% again. Darkfost indicated that historically, such extreme situations sometimes signal a trend reversal.

The proposed rule allowing alternative assets such as cryptocurrencies to enter 401(k) retirement plans has been submitted to the White House for final review on November 5. The proposal does not limit the types of cryptocurrencies that can be included, nor does it set a minimum market capitalization threshold, meaning that altcoins and small to mid-cap tokens may also have the opportunity to enter U.S. retirement investment plans in the future.However, industry insiders point out that asset management firms still need to comprehensively assess performance, fees, liquidity, valuation, benchmark indicators, and investment complexity when selecting investment targets. Bitcoin and Ethereum, with their mature markets and investment products, are expected to gain access first, while small to mid-cap tokens may face higher barriers due to insufficient historical data, limited liquidity, and lack of reliable valuation benchmarks.In addition, experts expect that cryptocurrency ETFs and managed funds will enter 401(k) plans before direct holding products, as the former are easier to adapt to existing custody and account management systems. The industry anticipates that some cryptocurrency investment options may begin to be implemented in 2027, with further expansion of coverage expected around 2028.The proposal still needs to complete the White House review and subsequent legislative processes, and it will not completely exempt retirement plan managers from fiduciary responsibilities and litigation risks.