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Binance Research believes that if the trend of global interest rate hikes continues to slow down, Bitcoin may find support before major central banks cut interest rates.

According to the Binance Research November 2026 market monthly report summary, the total market capitalization of the cryptocurrency market fell by 9.1% in October to $2.70 trillion. The report links the market correction to inflationary pressures, expectations of interest rate hikes by the Federal Reserve, and declines in technology stocks. During the same period, the net outflow from the US spot BTC ETF was approximately $516 million, while the net outflow from the ETH ETF was about $1.6 billion.The report also mentions that the five major AI investment companies had a total capital expenditure of $230 billion in the third quarter, which is 2.2 times their operating cash flow, with a total free cash flow turning negative to about -$32 billion. Demand for AI inference continues to grow, but the revenue scale of related cryptocurrency inference service providers remains small. In addition, the tokenized stock product bStocks reached $1 billion in assets under management within 125 days of its launch, with an on-chain utilization rate of 18.54%, higher than the industry average of 13.91%.

XWIN Japan pointed out that the whale ratio of Bitcoin exchanges has repeatedly broken 0.4, and it is estimated that the leverage ratio, although it has fallen, is still higher than the mid-October level.

Binance's Chief Security Officer Jimmy Su stated during a fireside chat on Binance X Space that Binance is hiring external security experts to conduct a comprehensive independent review of the security incident that occurred on October 29, in order to verify the conclusions of the internal investigation and provide improvement suggestions.At the same time, Binance is collaborating with leading AI companies and security firms to establish a security research fund, focusing on researching security threats related to blockchain and AI. In the future, internal AI tools and development environments will be managed according to critical infrastructure standards.Regarding the previous security incident, Jimmy Su explained that the transaction authorization used by the attackers exists on-chain and does not go through the Binance withdrawal system. Therefore, suspending withdrawals cannot prevent the related funds from being transferred; it must be revoked through a new on-chain transaction.Due to Binance's hot wallet using multi-party computation (MPC) technology, there is no single private key that can be directly used to revoke authorization. The team needed to temporarily formulate a revocation process, which took several hours to control the situation.

Bitcoin ecosystem protocol Arch acquires the American housing financing platform Horizon, with the amount undisclosed. The latter issues home equity lines of credit secured by crypto assets, allowing users to purchase homes or access home equity without having to sell their coins first.

According to the South Korean semiconductor media THE ELEC, the etching process formula used by Samsung Electronics for semiconductor manufacturing has been reported to flow to the equipment supplier Lam Semiconductor's Korean company. An internal investigation by Samsung found that data transmission beyond authorized limits had occurred multiple times and regarded this matter as a serious technology leak incident. Lam Semiconductor is the equipment supplier for Samsung's semiconductor production line, primarily providing etching and deposition equipment.Data generated during equipment operation is stored in systems such as internal monitoring servers within the factory. According to the agreement between both parties, Lam Semiconductor can obtain some equipment data within a limited scope for performance optimization and maintenance, and its Korean company submits data requests to Samsung. Samsung's investigation revealed that some unauthorized process formulas were transmitted to Lam's Korean company in the form of independent documents, with the related transmissions originating from non-compliant requests, not being a one-time occurrence. Samsung discovered this issue in the second half of this year.The semiconductor process formula records key parameters such as equipment temperature, chamber pressure, gas flow, and processing duration, which directly affect chip yield, performance, and production stability, and are considered core technical data of wafer manufacturing enterprises. Lam Semiconductor's Korean company announced on November 6 that Kim Tae-won would replace Park Jun-hong as CEO. Some industry insiders have linked this leadership change to the data leak incident, but there is currently no public information proving a direct relationship between the two. Neither Samsung Electronics nor Lam Semiconductor's Korean company has responded to inquiries from THE ELEC.

Galaxy Research Director Alex Thorn stated that after Bitcoin closed above the 50-week moving average for seven consecutive weeks, it closed below that average this week. Historically, in two similar instances, it did not create new weekly closing lows in a bear market.

According to Bitcoin News citing research from Crypto Briefing, since 2016, whenever the Federal Reserve paused interest rate hikes and then resumed them, Bitcoin has recorded a decline within 30 days after the rate hike, with a median drop of 2.4%. We are currently in this situation: the Federal Reserve paused after raising rates in September and is expected to raise rates again soon.The research points out that the most similar historical case was in 2018, when Bitcoin fell by 42% during the period from the midterm elections to the rate hike in December. Although the sample size is only 7 instances, the current record stands at 0 wins and 7 losses.

According to a research report released by the University of Oregon Blockchain Group (Dorm DAO), the student fund recommends a full investment in the AI mining project Pearl ($PEARL), with a target price of $2.50 to $3.00. Currently, Pearl has a market capitalization of approximately $531 million.The research report points out that Pearl is a Layer 1 public chain that replaces proof of work (PoW) with matrix multiplication, using "proof of useful work (PoUW)," allowing GPUs serving AI to simultaneously ensure network security and earn tokens. The fund considers the potential listing expectations on Coinbase and Kraken, the FP8 core upgrade (which aims to reduce mining costs to nearly 0%), and the AI computing narrative as three major catalysts.The report also reveals several risks: currently, less than 1% of blocks are running real AI tasks, most of which are meaningless random matrix calculations; the token supply is expected to expand by about 86% next year; and the internal holding situation of approximately 122 million tokens (accounting for 5.8% of the total supply) produced in the early days of the mainnet launch (within 6 days) has not been disclosed, and the project currently lacks third-party code audits.

On November 6, the crypto research firm Blockworks had several members of its research team announce their departure on Twitter, including Senior Research Analyst Jake Koch-Gallup, Research Analyst Nick Carpineto, Research Analyst Kunal Doshi, Senior Protocol Strategist Silvio Busonero, and founding research team member Westie Revacc.The tweets did not mention the specific reasons for their departure, but Jake Koch-Gallup indicated that it was related to Blockworks' strategic adjustments. "It's sad to see a leading crypto research company shift its focus from research to other directions. I understand the decision to prioritize product development, but I believe independent research is more important than ever, especially as AI makes original human thought and analysis increasingly valuable."On November 3, Blockworks announced the launch of its MCP product, allowing any user to connect Blockworks to Claude, ChatGPT, Cursor, or any MCP client to start building agents. In June, Blockworks announced the acquisition of the crypto research platform Messari.

Galaxy Research Director Alex Thorn stated that after the Democratic Party won both houses of the U.S. Congress, significant progress in key digital asset legislation is still expected to be difficult, and the leadership of congressional committees will also change. He mentioned that Elizabeth Warren may become the chair of the Senate Banking Committee, while Maxine Waters is expected to regain control of the House Financial Services Committee.Several Republican lawmakers who support the crypto industry were defeated, but the pro-crypto camp did not suffer a complete loss. According to Stand With Crypto, 19 pro-crypto senators and 226 pro-crypto representatives have been elected. Tracking by Molly White shows that in 12 highly competitive elections, the side supported by crypto and AI political action committees lost 9, but won all in the safer 40 elections.Reports indicate that House Democrats are discussing expanding Waters' previously proposed "Crypto Investor Consumer Rights Act" into a broader crypto market structure bill. Thorn reiterated that no substantial progress is expected in Congress on key digital asset legislation. In the absence of legislation, the SEC, CFTC, and banking regulators have clarified crypto rules within their existing statutory authority, and the Trump administration still has two years to continue advancing related work.

Grayscale's research director Zach Pandl stated that JPMorgan Asset Management will incorporate Bitcoin into its long-term investment assumptions for 2027, expecting a compound annual return of 10%, higher than other asset classes; the estimated correlation of Bitcoin with U.S. large-cap stocks is 33%.JPMorgan expects Bitcoin's annualized volatility to be 55%, and due to its unstable correlation with other assets, it will exclude Bitcoin from its main portfolio models. Its long-term assumptions also include a return of 7.5% for U.S. large-cap stocks, 9.8% for private equity, 7% for a 60/40 stock-bond portfolio, and 5.5% for gold. JPMorgan describes Bitcoin's investment characteristics as speculative assets and notes that its portfolio allocation role is related to monetary easing; adoption, regulation, and liquidity will all affect its economic characteristics. Grayscale states that the related portfolio returns depend on future returns and changes in the relationships between assets.

According to data from the Gate stock platform, the Philadelphia Semiconductor Index may record its largest single-day drop since March 2020, currently down 11.48%. Semiconductor and storage stocks are leading the market decline.Seagate (STX) fell 13.71%; Western Digital (WDC) fell 15.26%; SanDisk (SNDK) fell 17.04%; Micron (MU) fell 13.20%; NVIDIA (NVDA) fell 7.23%; Intel (INTC) fell 7.01%; Advanced Micro Devices (AMD) fell 13.53%.

According to Bitcoin.com, CoinShares Research Director James Butterfill stated regarding the results of the U.S. midterm elections on November 3 that Bitcoin has largely priced in the expectations of a Democratic victory. With uncertainty removed, there is room for a rebound, and the expected results may not necessarily trigger another round of selling.Butterfill warned that a greater concern is the slowdown in crypto reform. The Clarity Act faces a more difficult path, and investigations into Trump-related businesses may consume political capital and generate unsettling headlines in the industry. He believes that U.S. crypto stocks may be more sensitive than Bitcoin, especially exchanges, token issuers, and businesses reliant on new regulatory licenses.Butterfill also mentioned that compliant operators could benefit from competitors facing stricter scrutiny. For Bitcoin, real yields, dollar liquidity, and ETP fund flows remain more important than the elections.

On Tuesday, Google announced that its AI products will be disabled by default for K-12 student accounts unless school administrators actively enable them. However, schools that wish to completely disable AI must also turn off Google Search, which is a tool that millions of students rely on for their daily research. Chris Phillips, Vice President and General Manager of Google Education, stated during a meeting with educators that Search and AI are deeply integrated, and schools that are uncomfortable with AI can choose not to enable Search at all.Google stated that administrators can enable or disable Gemini, Gemini Notebook, Gemini in Classroom, and Search separately. This means that schools can block the standalone chatbot while retaining the search function, but they cannot remove AI from the search itself. According to The New York Times, starting in early 2027, schools that enable Search will receive versions with regular AI features such as AI Overviews and AI Mode, or an education-focused Guided Learning experience, neither of which will offer a traditional search experience without generative AI.The announcement has sparked criticism. New York City Mayor Zohran Mamdani accused Google of trying to impose AI on public schools using its monopoly power; former Federal Trade Commission Chair Lina Khan also criticized Google for using its search monopoly to force schools to adopt AI. Currently, New York City has implemented a one-year generative AI ban for students in eighth grade and below, affecting nearly 600,000 students, while Los Angeles has also restricted the technology, with local officials originally hoping to retain Google Search and remove AI summaries. In 2024, a federal court ruled that Google illegally monopolized the U.S. search market.

Bitcoin News posted on the X platform that Bitcoin security researcher Talip stated that his team discovered over 10,000 potential vulnerabilities using AI within two months.The team consists of volunteer engineers, and some findings have been assessed, disclosed, and fixed, while other disclosures are still ongoing. Talip mentioned that AI-generated findings need independent verification, as many of them may be false positives or exaggerate the severity of the vulnerabilities.