Odaily reports: The Kobeissi Letter posted on X platform that the most notable aspect of last night's crash was the remarkable persistence of the selling pressure.
During the session, the S&P 500 and Nasdaq 100 staged at least 5 rebounds intraday, one of which was as large as 1.7%, but every single one of these rebounds was met with selling. Throughout the entire trading day, the S&P 500 didn't even record a single 1-hour candle that closed higher. Today's trading session will be referenced by the market for many years to come.
Odaily: On November 6, according to SoSoValue data, crypto market sectors fell across the board. The DePIN sector dropped 7.31% in 24 hours, with Grass (GRASS) down 14.32%, Filecoin (FIL) down 8.47%, and Render (RENDER) down 5.72%. Bitcoin (BTC) fell 5.66%, dropping to the $76,000 mark; Ethereum (ETH) fell 7.71%, breaking below $2,300.
In other sectors, the CeFi sector dropped 3.63% in 24 hours, with Cronos (CRO) down 6.22%; the Layer1 sector fell 4.06%, with NEAR Protocol (NEAR) down 8.23% and Injective (INJ) up 2.94%; the PayFi sector fell 5.07%, with XRP down 7.19%; the Layer2 sector fell 5.10%, with Mantle (MNT) down 8.79%; the Meme sector fell 5.88%, with SPX6900 (SPX) down 9.72%; the DeFi sector fell 6.45%, with Ethena (ENA) down 10.58%.
Among the crypto sector indices reflecting historical sector performance, the ssiDePIN, ssiRWA, and ssiDeFi indices fell 7.24%, 7.17%, and 6.74%, respectively.
Odaily: Asian stocks fell sharply Friday morning, following the overnight U.S. selloff. South Korea's SK Hynix plunged 12% and Samsung Electronics dropped 10%, dragging the KOSPI index down more than 8% at one point and triggering a circuit breaker. Japan's Nikkei 225 fell below 57,000 points, down more than 6.7%, with Kioxia dropping 11%. Taiwan's weighted index opened nearly 9% lower, with TSMC down almost 10%. Markets are concerned that changes in the U.S. political landscape could slow data center construction, in turn hitting semiconductor companies' growth prospects. Analysts noted that a Democratic election victory could serve as a catalyst for a more sustained unwind of AI stocks. Meanwhile, markets are reassessing the possibility of the Iran war ending, and international oil prices have rebounded. ANZ analysts said oil prices fell sharply and quickly after the election results were announced, which may have been an overreaction. Analysts said the market is beginning to recognize the reality of the situation — Iran still controls the Strait of Hormuz and is unlikely to give up that control. (Jinshi)
Odaily reports that according to CoinGlass data, the total liquidation amount across the entire network over the past 24 hours reached $1.238 billion, with a total of 235,344 people liquidated. Among them, long positions accounted for $1.099 billion in liquidations, while short positions accounted for $139 million, with longs making up approximately 88.8%.
By asset, BTC liquidations totaled approximately $327 million, and ETH liquidations totaled approximately $209 million. The largest single liquidation occurred on Binance's ETHUSDT trading pair, valued at $10.9364 million.
According to MSX.COM data, MRVL has dropped 11.0% over the past 24 hours and is currently trading at 139.15 USDT.
Odaily Report: Michael McCarthy, CEO of Moomoo Australia and New Zealand, stated that market sentiment has clearly undergone a significant shift. He noted that market turning points are often accompanied by strong divergence and manifest as sharp two-way swings in stock prices. The market currently appears to be in this phase, and the sharp sell-off in US stocks overnight suggests the market may be moving in this direction. McCarthy believes this could become an important turning point for the US market. He said that based on overnight market performance, many large US market participants appear to have concluded that the rally that had previously driven the market higher is over. (Jin10)
Odaily reports: According to MSX.COM data, U.S. stocks closed with the Dow down 3.44%, the S&P 500 down 4.36%, the Nasdaq down 5.52%, and the VIX fear index up 69.66%. AI concept stocks fell broadly, with Astera Labs down 19.62%, Micron down 17.46%, AMD down 17.26%, Marvell down 16.43%, and Teradyne down 15.24%.
It is reported that MSX is a leading RWA trading platform and has cumulatively listed hundreds of RWA tokens, covering popular U.S. stocks and ETF token targets such as Nvidia, GOOGL, MSFT, AMZN, META, TSM, and AMD.
Odaily reports: US stocks suffered a violent sell-off yesterday, with the Nasdaq 100 just posting its largest single-day decline since the 2020 pandemic, and the S&P 500 shedding $3 trillion in market value today.
Multiple analysts said one of the reasons for the accelerated market decline may be a wave of collective liquidations hitting several hedge funds.
An investor letter obtained by Bloomberg shows that Walleye Capital, a hedge fund with over $17 billion in assets under management, is planning to return some cash to scale down its internal equities business after losing 5.9% in October—its worst month since March 2020.
People familiar with the matter revealed that due to the October performance slump, Anil Gondi, Walleye Capital's head of equity investments, has agreed to part ways with a "substantial portion" of the equities team, with the firm set to focus going forward on core strategies such as volatility, quantitative strategies, and external business.
In addition, market rumors suggest that hedge fund Millennium has withdrawn more than $1.5 billion in leveraged capital from two external portfolio managers, while another hedge fund, Lone Pine, is also facing rumors of outright bankruptcy—though these claims have not yet been confirmed.
Odaily Report: U.S. President Trump posted that: The stock market experienced one of the worst trading days in history due to the election results. It's truly sad to watch! We worked so hard to reach unprecedented levels, and yet it turned out like this. As a result, your 401(k) retirement accounts have shrunk. Remember, this was not caused by Republicans, but by the "Dumocrats." But do not fear, we will soon, in some way, become stronger than ever before. Make America Great Again!
Odaily reports: According to Gate data, the Nikkei 225 Index has fallen below 58,000 points, down 5.06% intraday; the Topix Index is also down 5%.
