Odaily Morning Brief

1. Renowned trader: Selling was mainly concentrated on Coinbase, with an aggressiveness rarely seen in history;

2. Bitwise CIO: The market will continue to remain sluggish as it digests the impact of events such as the midterm elections and the Binance hack;

3. Longs collectively suffered major drawdowns: Big Target Bro gave back $93 million, while 48Clublan's trades lost $91.36 million;

4. During the crash, the cumulative trading volume differential across the four major CEXs suggests that the U.S. market may be the main source of selling;

5. Analysis: Bitcoin shorts are accelerating their entry, and the market is approaching the bottom of the long-term trend channel;

6. Glassnode: Stablecoin supply is rapidly shrinking, with monthly outflows hitting a new high since 2022;

7. Machi Big Brother sold Bored Ape 2894 for 7.3 ETH after holding it for 5 years, at a loss of 117.7 ETH.