According to a report released by Wintermute, Odaily Planet Daily, the market primarily digested the sharp adjustment in expectations for a December rate cut over the past week—the probability of a rate cut plummeted from 70% to 42% within a week, with the lack of macroeconomic data amplifying the volatility. Powell's ambiguous statements regarding a December rate cut forced the market to re-examine the disagreements among FOMC members, revealing that a consensus on rate cuts is far from being reached. Risk assets weakened in response, with the crypto market, a bellwether for sentiment, bearing the brunt.

Among cross-asset performance, digital assets continue to lag behind. This weakness is not a new phenomenon: crypto assets have consistently underperformed the stock market since early summer, partly due to their negative deviation relative to the stock market. What is unusual is that BTC and ETH have underperformed altcoins as a whole during this round of decline. This can be attributed to the fact that altcoins have been declining for some time, while niche sectors such as privacy coins and fee switches are still showing some resilience.

Part of the pressure stems from whale position adjustments. While there is a seasonal pattern to selling off holdings from the fourth quarter to January of the following year, this year it has clearly come earlier, as many traders anticipate that the four-year cycle theory suggests a period of stagnation next year. This consensus has become self-fulfilling: proactive risk management has exacerbated volatility. It should be clarified that this round of selling pressure is not supported by any fundamental deterioration; it is purely a macro-driven adjustment led by the United States.

Currently, the macroeconomic backdrop remains positive, with continued global easing, the US QT program nearing its end, active fiscal stimulus channels, and improved liquidity expected in Q1. The key signal missing from the market is the stabilization of leading assets—unless BTC returns to the upper limit of its trading range, market breadth will be limited, and the narrative will remain short-lived. The current macroeconomic environment does not conform to the characteristics of a prolonged bear market. With policy and interest rate expectations becoming the main catalysts, once leading assets regain momentum, the market will have a broad foundation for recovery.

According to Onchain Lens, Mt. Gox deposited 185.52 BTC, worth $16.8 million, into Kraken.

According to The Data Nerd, Amber Group (0xD83...177, 0x626...2eD) deposited 5.3 million STRK tokens, worth approximately $971,000, into Binance two hours ago.

In addition, the institution also deposited 6.3 million STRK tokens, worth approximately $1.47 million, into Binance three days ago when the price of STRK reached an eight-month high.

According to data from the U.S. government website, as reported by Odaily Planet Daily, the number of initial jobless claims for the week ending October 18 was 232,000. (Golden Ten)

Odaily Planet Daily reports that Bitget is launching an upgrade incentive program for its VIP 6 trial users. During the promotion period, users who upgrade to the corresponding VIP level through contract trading will unlock exclusive benefits such as trial funds, monthly BGB airdrops, hot coin airdrops, and an extended VIP 6 trial period. Rewards can be earned repeatedly, up to VIP 5, where each user can receive 11,888 USDT in trial funds and have their VIP 6 trial period extended by 135 days. This promotion is only open to Bitget VIP 6 trial users who participated in the "Double 11 VIP Extravaganza: VIP on Other Exchanges, Enjoy VIP 6 on Our Exchange" event.

Detailed rules have been released on the Bitget official platform. Certain users do not need to register; they can participate simply by completing the upgrade through contract trading. The event will run from November 18th to December 2nd (UTC+8).

Odaily Planet Daily reports that Bank of Japan Governor Kazuo Ueda stated after his first bilateral meeting with Prime Minister Sanae Takaichi that the central bank is continuing to gradually adjust the pace of monetary easing, demonstrating its firm intention to raise interest rates. Ueda told the media after the meeting, "The mechanism of inflation growing in tandem with wages is being restored. Therefore, I explained to the Prime Minister that we are gradually adjusting the extent of monetary easing." This meeting comes as investors are focused on Takaichi's stance on monetary policy and awaiting details of the economic stimulus package to be announced this week. Ueda said, "We discussed foreign exchange issues. The central bank will closely monitor its impact on the economy while working closely with the government." He also emphasized that the Bank of Japan will make appropriate policy decisions based on economic data. (Jinshi)

According to the latest Gate Ventures Crypto Weekly Report, the market was under pressure this week, with major assets leading the decline. BTC fell 9.9% for the week, and ETH dropped 13.67%. On-chain sentiment weakened significantly, with the Fear & Greed Index falling to 14, entering the extreme fear zone. The ETH/BTC ratio continued to decline to 0.033. The overall crypto market capitalization declined by 9.4%, with BTC and ETH experiencing the largest pullbacks. Other assets generally followed suit, but privacy tokens bucked the trend and strengthened. The top 30 assets saw an average decline of approximately 12%, with only a few coins recording gains.

In terms of industry dynamics, multiple technology roadmaps and infrastructure updates continue to advance. For example, the price of the new payment infrastructure project remained stable in its first week after launch; several technology teams announced new version roadmaps covering areas such as cross-chain capabilities, structured design of risky assets, and expansion of on-chain settlement; meanwhile, discussions on collaborations surrounding AI, robotics, on-chain foreign exchange, and institutional-grade clearing mechanisms are expanding, bringing more attention to medium- to long-term application scenarios. Regarding financing, 11 transactions were disclosed this week, totaling approximately $132 million, primarily concentrated in the DeFi, infrastructure, and data sectors.

According to Cointelegraph, the number of wallets holding more than 1,000 BTC has increased by 2.2% to 1,384, a new high in four months.

Odaily Planet Daily reports that spot gold has fallen below $4,000 per ounce for the first time since November 10, dropping more than 1% on the day. (Jinshi)

According to a report by Christian Lenk, an analyst at DZ Bank, the Federal Reserve is expected to cut interest rates by 25 basis points in December, followed by more cautious action.

He predicts the Federal Reserve will only cut interest rates twice more, in March and June next year, by 25 basis points each time. DZ Bank expects that despite the Fed's rate cuts, rising inflation will still push up the 10-year US Treasury yield. US inflation is expected to rise in the coming quarters due to the temporary effects of tariffs and the large government deficit. The long end of the yield curve may rise further, but ultimately yields will not deviate too far from current levels. The 10-year US Treasury yield is expected to rise to 4.50% within the next three months (currently 4.103%) and to 4.60% within six months. (Jinshi)

According to Odaily Planet Daily, on-chain analyst Yu Jin reported that "Brother Machi" added $256,000 in margin to his long position and opened a new long position of 1,775 ETH, worth $5.3 million. His average opening price was $3,024, and the liquidation price was $2,908.

Over the past six months, Brother Machi made a profit of up to $45.66 million by going long on ETH. Subsequently, the market reversed, and all his profits were wiped out, resulting in a loss of $17.72 million of his principal.

According to a chart released today by Matrixport, Odaily Planet Daily, two weeks ago we pointed out that Ethereum's short-term risks were accumulating: throughout the summer, incremental buying mainly came from Bitmine, whose continued buying power largely supported the price and market sentiment.

As Bitmine's buying activity recedes, Ethereum-related ETFs have already seen a net inflow of approximately $10 billion, and their long positions are already at a relatively high level. Without new funds to follow up, the downward pressure on prices is clearly increasing.

As of now, Ethereum has seen a cumulative pullback of approximately 10% this year, and a drop of nearly 20% since we first warned of the risks. This deleveraging process by long positions is largely consistent with our previous assessment. This trend is one of the noteworthy negative developments in the crypto market this year, but it also reaffirms an important fact: adhering to data-driven principles is essential to gradually building a genuine advantage in investment and trading.

According to Odaily Planet Daily, Binance Alpha will list Datagram Network (DGRAM), and Alpha trading will officially begin on November 18, 2025 at 16:00 (UTC+8).

Once the trading session begins, users with at least 245 Binance Alpha Points can claim an airdrop of 3,340 DGRAM tokens on a first-come, first-served basis. If the reward pool is not fully distributed, the points threshold will automatically decrease by 5 points every 5 minutes. Please note that claiming the airdrop will cost 15 Binance Alpha Points. Users must confirm their claim on the Alpha event page within 24 hours; otherwise, they will be considered to have forfeited their claim.

Odaily Planet Daily reports that LBank has announced a strategic partnership with cryptocurrency derivatives data platform CoinGlass. Through technical integration, the two companies will provide real-time price trends, contract trading volume, open interest, funding rates, and other information to help global users access high-quality derivatives data services and intelligent trading support. Simultaneously, LBank users can leverage richer data support to develop more planned trading strategies, reducing impulsive decisions and their associated risks and losses.

Public data shows that LBank has over 20 million users and a daily trading volume exceeding $10.5 billion. Previously, LBank integrated TradingView to optimize users' market technical analysis experience, helping them accurately capture contract trading opportunities in volatile markets. This collaboration with CoinGlass will help users more efficiently unlock the value of data, enhance market insight, and obtain a superior trading experience.

According to Odaily Planet Daily, Wang Feng, founder of Linekong Interactive, said today that he has been quietly buying the dip ever since Bitcoin fell below $100,000.

Wang Feng stated that, ignoring externalities such as policy and the performance of the US stock market, and focusing solely on the internal workings of the crypto market, the most important factor today is stablecoins, which are expected to be a major focus in 2025. Policy approval does not guarantee market prosperity, and the scale of minting by various entities does not equate to liquidity in real-world applications. Issuance is one thing, application is another. We should observe the performance of stablecoins in actual applications and business operations. The strength of demand for stablecoin liquidity is the true driving force behind whether the crypto market will continue its bullish trend from an internal perspective. We look forward to more updates, data, and reports from the media and investment research institutions on the stablecoin market.