I. Today's Outlook

Bitcoin is trading at $75,799, down 0.19% over 24 hours. Ethereum is at $2,234.69, down 0.47%. Over the past three days, they have fallen 5.93% and 7.95%, respectively, and over the past seven days, 2.51% and 1.27%. Prices are currently near their one-week lows: Bitcoin is at 14.4% of its range and Ethereum at 11.7%, both close to the bottom. This sideways trading comes after consecutive pullbacks. It suggests selling pressure has not intensified further for now, but prices have not yet stabilized.

Market sentiment is bearish, but it has not managed to push prices further down. Community discussions are focused on continued outflows from ETF funds, the movement of funds stolen from Binance, and regulatory changes after Democrats took control of Congress. These negative factors are all present, yet prices have barely moved. One reason is that leverage has already come down: open interest fell 1.42% in 24 hours, while liquidations totaled only about $60 million, 70% less than the previous day. This suggests that the decline in recent days has already cleared out a significant amount of speculative positions. Funding rates remain positive, but at 0.0087% for Bitcoin and 0.0061% for Ethereum, they are negligible. Bulls are not rushing to add leverage, and bears have not mounted an aggressive counterattack. The 58-to-42 long-short ratio looks more like a wait-and-see stance than a directional bet. The Fear and Greed Index is at 26, in the low range: the market is fearful but reluctant to make another big move.

The key factor to watch next is the U.S. October CPI report due Tuesday. It could directly reshape interest rate expectations and the strength of the dollar, in turn affecting the near-term direction of risk assets such as Bitcoin. On regulation, Democrats taking control of Congress does not mean an immediate reversal. Repealing the existing stablecoin law would require new legislation, and market participants are more concerned that policy barriers will rise over the long term. Today's $14.15 million AVAX unlock is unlikely to affect the broader market much, but with altcoins broadly weak, it could weigh further on individual tokens. Whether prices can hold above the seven-day low of $74,888 matters more than any narrative.

II. Today's News

1. Bloomberg: As the Trump bump fades, the crypto industry turns to bipartisan support to pursue long-term growth

After the midterm elections, Democrats are preparing to take control of Congress, marking a potential turning point for the political advantages the crypto industry has enjoyed in Washington over the past two years. Comprehensive crypto legislation may be harder to advance on terms favored by the industry, while Trump-related businesses could face closer scrutiny. However, repealing the federal stablecoin law would require new legislation, and the SEC and CFTC can continue developing digital asset regulatory rules. The industry's efforts to court both parties suggest that regulation is likely to become more enduring and institutionalized. There will be no sudden reversal in the short term, but policy uncertainty could weigh on risk appetite and make investors more cautious about allocating capital to crypto assets.

2. Elliptic co-founder: Binance hacker converted $175 million in stolen altcoins into about 2,300 Bitcoin

The hacker converted altcoins stolen from Binance into about 2,300 Bitcoin, dispersing them across 16 blockchains, more than 20,000 wallets, and 65,000 transactions. Another 88 Bitcoin passed through a mixer. The Bitcoin and Ethereum still held by the hacker have not been moved; on-chain addresses show a balance of 18,384 Bitcoin. The incident has had no direct impact on prices, as the conversion was already underway and the amount is relatively small compared with the market. However, the damage to trust in security could make some investors more wary of centralized exchanges and cross-chain tools, indirectly dampening risk appetite.

3. Keplr Wallet security incident update: Users advised to transfer remaining assets; private keys exposed for some social login accounts

A vulnerability in Web3Auth infrastructure led to the exposure of private keys belonging to some Keplr wallet users who signed in with Google or Apple. The official team advised users to stop depositing new funds into affected accounts and to transfer any remaining assets that can be moved to accounts created with a recovery phrase or hardware wallet. This is an infrastructure-level security incident. Although mainstream assets were not affected, it could deepen concerns about non-custodial wallets and weigh on sentiment toward wallets that rely on social logins.

4. b14g reviews the CORE theft incident: no private keys were compromised; plans to begin repaying funds within 5 to 7 days

The b14g security incident involved an attacker exploiting a compatibility flaw in the staking contract to submit 99 zero-value withdrawal requests in a single transaction, stealing about 97.05 million CORE. About 70.2% was recovered through a Core hard fork on November 2, and trading platforms froze another 12 million tokens. The project plans to return the recovered assets within 5 to 7 days in proportion to users' original balances, while the remaining losses will be repaid gradually using 50% of future staking revenue. The incident exposed risks related to contract compatibility, dealing another blow to sentiment toward staking derivatives and DeFi protocols.

III. Crypto Calendar

Today's Events

• 08:00: Avalanche (AVAX) unlocks about 1.67 million tokens worth approximately $14.15 million — The unlock will increase circulating supply and could create short-term selling pressure on AVAX, but its impact on the broader market is limited.

Upcoming Events

• November 9, TBA: Elysium, a Hyperliquid ecosystem Layer 2 network, launches its mainnet — The new network could affect liquidity in related trading pairs, so watch for changes in spreads and market depth.

• November 10, 21:30: U.S. October CPI release — This is a major macroeconomic event that directly affects dollar liquidity and risk appetite for Bitcoin, making it the most important event to watch this week.

• November 10, 10:14: A new crypto investing book co-authored by Bloomberg ETF analysts Eric Balchunas and James Seyffart is published — The event's impact is limited and it is best treated as a secondary item to watch.

• November 11, 21:00: Allora (ALLO) unlocks about 486 million tokens worth approximately $84.8 million — The increase in token supply could have a significant impact on ALLO's price; watch for selling pressure.

IV. Sentiment Monitoring

Community sentiment is broadly bearish, but concern outweighs panic. Discussion is focused on several issues: whether consecutive net outflows from spot Bitcoin ETFs mean institutions are pulling back. Many are debating the fact that prices have barely fallen. Some see this as institutional portfolio rebalancing or a sign of market resilience; others worry it signals a further deterioration in risk appetite. The continued cross-chain conversion and movement of funds stolen from Binance are also undermining trust, and some participants are concerned about possible regulatory action. Bitcoin's decline in tandem with U.S. tech stocks has raised doubts about the "independent narrative," while the overall weakness of altcoins is also being repeatedly discussed. Overall, bearish views are more prevalent, but stable price action is widening divisions in the community. Many are choosing to wait and see rather than act.

This article is based on the day's market data, key news, and sentiment monitoring. It is for informational purposes only and does not constitute investment advice.