This market action is downright brutal. $BTC dumped to 81,700, and $ETH plunged straight to 2,434. The 1-hour RSI hit 12.22—deeply oversold. It’s either choppy sideways action or sharp wicks in both directions. The goal is obvious: shatter conviction and wear down patience. A classic bull-market “Bart” move.
But here’s the interesting part: retail investors are panicking, while institutions are buying like crazy. Strive just spent $280 million, snapping up 3,311 BTC at an average price of $84,000. The logic behind these “Bitcoin treasury” companies is pretty blunt: raise money by issuing debt or shares, buy Bitcoin, then as the price rises, their net asset value rises too—letting them raise even more money to buy even more Bitcoin. As long as the price keeps going up, it’s a self-reinforcing money printer.
But it can be just as deadly in reverse. In a deep correction, borrowed money, added leverage, and promised dividends can all become nooses. More and more companies are doing this now, and nobody knows whether they can withstand this round of sharp wicks.
In this brutal market, don’t let the wicks shake you out. Institutions are openly betting on the cycle; we’re quietly testing our patience. You have to weather the storm before you can talk about conviction. 🐾
Meanwhile, the little dog on Ethereum is slowly growing while no one is paying attention.
Ethereum ETFs see 10 consecutive days of outflows! Are institutional investors cooling off?
The ETH market has seen a signal worth watching. U.S. spot Ethereum ETFs have recorded net outflows for 10 consecutive trading days, setting the longest streak of outflows since these ETFs launched.
Key figures: Cumulative outflows of approximately $783 million over 10 days Net outflows of approximately $85.4 million on the latest trading day BlackRock’s ETHA saw approximately $75.1 million in outflows in a single day, accounting for a large share. Why are institutional investors pulling out?
The market believes several factors may be at play: Lower appetite for macroeconomic risk Factors such as Treasury yields and liquidity conditions are prompting some investors to reassess their allocations to risk assets.
Shifts in capital rotation Some institutions may be reducing their exposure to ETH ETFs while waiting for new market catalysts.
ETH outflows ≠ ETH losing its value It’s worth noting that cumulative inflows have remained positive since spot ETH ETFs launched.
ETFs are just one channel for capital in the market and don’t fully represent the Ethereum ecosystem as a whole. Markets will be watching: Whether ETF outflows stabilize and reverse Whether on-chain activity on ETH recovers Whether the RWA, DeFi, and L2 ecosystems can bring fresh growth narratives In the short term, institutional investors are cooling off.
In the long term, the market is still watching to see: Whether Ethereum can remain at the heart of on-chain financial infrastructure.
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✨This week's topic: September CPI is coming—how will it affect crude oil and U.S. Treasury trends?
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Ethereum ETFs have been bleeding for 10 straight days What used to be all the rage has now become a hot potato Have institutions fallen out of love with ETH Or are they just finding another way to get in
Well, damn Guys Ethereum is having a rough time again
US spot Ethereum ETFs have now seen net outflows for 10 consecutive trading days with money continuing to pull out leaving a lot of people wondering whether Wall Street has lost interest in Ethereum
The data shows US spot Ethereum ETFs saw another net outflow of around $85.43 million on October 12 extending the streak of outflows to 10 straight days The previous week ETH ETFs saw cumulative outflows of around $542 million making it one of the worst weeks since January this year
Is Ethereum done for? First off, most of the money in Ethereum ETFs comes from traditional US institutions and investment funds These investors have a lower appetite for risk so when expectations weaken, they're the first to run
So yeah I don't think Ethereum is done for These guys are just here to make money I think they're mostly getting out of the way for now and they'll jump back in when the time is right
That's just how financial markets work When things are going well, everyone piles in but as soon as things turn sour they run faster than rabbits
Ethereum has now gone sideways here after its drop Big Hammer said a long time ago that Ethereum would head toward 2,200 So far things are pretty much as expected
A larger-scale consolidation range has now formed There are only two ways this can go Either it breaks upward out of the range and goes straight into wave 3 or it makes a false break to the downside retests around 2,200, then breaks out strongly
Next time, it'll move at least the same distance as wave 1 In other words, the next rally should reach at least around 3,600
But before that 2,300 or 2,155 could still see more downside We haven't hit bottom yet, guys
Ledger makes a big move! Distributors in Southeast Asia and Hong Kong suspend sales Can cold wallets still be trusted?
Guys, Hardware wallet giant Ledger is adjusting its Asia-Pacific distribution policy, requiring some distributors in Southeast Asia and Hong Kong to suspend sales. Now that this news is out, we have to ask: Is this just a routine channel cleanup, or is there regulatory pressure behind it?
What does the crypto world fear most? It’s not a 50% market crash, it’s security issues. This recent Ledger incident has left many cold wallet users feeling uneasy.
Ledger has asked distributors in Southeast Asia and Hong Kong to suspend sales of hardware wallets and cooperate with the investigation into a security incident involving its devices.
It began when some users found that their Ledger devices were behaving abnormally. Ledger confirmed that one affected device contained an unauthorized hardware implant. So far, all devices confirmed to be affected have been linked to Southeast Asian distributor CryptoBilis. Ledger says its internal systems and official direct sales channels have not been affected.
Put simply, this wasn’t a hacker attack— the supply chain was targeted.
And just like that, the hardware device you bought could have been tampered with somewhere along the way. Just thinking about it gives you the chills.
Trust is the biggest selling point of a cold wallet. Now that trust is in question. What a mess.
In the short term, this is good news for other hardware wallet brands. It doesn’t really affect Bitcoin or anything like that. Just remember, guys: be extra careful when buying a cold wallet from now on. Buying only from major platforms is the way to go.
Note — this isn’t Perle (Perle Labs), the one in Alpha trading at around $0.10. It’s Pearl (pearlresearch.ai). 【Old Leek’s Take】PRL surges to $1.90 as the AI computing-power narrative draws attention? PRL has recently made a strong run. On October 13, Pearl (PRL) hit a high of around $1.92, setting a new all-time high. It has gained more than 60% over the past week. The story behind it is unusual: Pearl is trying to combine AI computing with blockchain mining, so that GPUs can help secure the network while carrying out AI-related computing tasks. In simple terms, the goal is for computing resources to do more than maintain the blockchain—they could also handle AI work with practical applications. This approach taps into two areas of market interest: demand for AI computing power, and how blockchain can deliver real-world utility. Rather than relying on hype alone, the narrative has a chance to become reality if the project can consistently demonstrate genuine demand for its computing tasks and keep the network running reliably. However, there is currently no clear, single catalyst behind PRL’s rally, so it would be premature to attribute it to a new partnership or technological breakthrough. And reaching a new all-time high doesn’t mean the uptrend is certain to continue. Another easy-to-overlook factor: around 344 million tokens are currently in circulation, compared with a maximum supply of 2.1 billion. Future changes in token supply, actual demand for the project, and market liquidity could all affect its valuation. What really matters next is whether the AI computing business continues to grow, and whether this rally is backed by genuine demand rather than market sentiment alone.
Google’s flagship is back; benchmark scores are just a side dish: 53 points, ranked 6th, launching at half price
Seven months later, Google has unveiled its first true flagship since Gemini 3: Gemini 4 Argon, launching globally on October 14
The release order is backwards: it went to cybersecurity defenders first on September 30 for two weeks, then to the rest of the world. Meta launched Muse Wonder on Monday; Google responds on Tuesday
First, the scorecard: it earned 53 on the independent Intelligence Index, tied for 6th with GPT-6 Astra and Claude Fable, five points behind leader Opus 5.5—not a return to the throne, but a seat back at the table
Two things stand out: its 15% hallucination rate is the lowest in the top ten; its single-response limit has jumped from 64,000 to 1 million tokens, nearly eight times its rivals’ 128,000
The pitch isn’t “smarter,” but “finish an entire big job in one go.” A million-token output means completing extremely long projects without interrupting the chain of thought—helping rebuild Chrome’s tens of millions of lines of code and cutting work that took months down to weeks; agentic code commits are up 35%, while rollbacks are down by a third
The price is another bombshell: half-price introductory rates of $2/$10, compared with Opus at $4/$20 and Astra at $10/$50; for the same intelligence, each task costs 40% less than with Astra. But there’s a catch: token consumption is extremely fast, feeling like ten times that of 3.8 Flash—cheaper per step doesn’t mean a cheaper total bill. Prices return to $4/$20 on November 30
Trading price for market share—using its engineering reputation and half-price offer to win enterprise contracts, while conceding it isn’t the smartest. The deeper signal: in an era of monthly model updates, rankings are losing value; cost per task and hallucination rates are becoming hard purchasing criteria—the competition is shifting from showing off to getting work done
What to watch: ① Test migration costs before the half-price offer expires; ② Watch whether OpenAI and Anthropic follow with price cuts; ③ It trails every rival on Terminal-Bench, and its stability on long tasks remains unproven
Risk warning: Google’s self-reported competitor data doesn’t match Anthropic’s figures; rapid token consumption could make the half-price offer less attractive than it seems; prices will double when the offer expires. This is not investment advice.
OP is up nearly 20% today, and there’s one reason behind it: after losing a major client, it’s finally landed another big deal.
Here’s an analogy. OP is a company that helps other people open stores. You use its setup to open a store, then give it a small cut each month.
Its biggest client was a store opened by Coinbase, called Base. At the start of the year, almost all of OP’s earnings came from Base.
In February, Base said, “We don’t need your setup anymore. We’ll do it ourselves, and we won’t share any revenue either.” Losing its biggest client sent OP down a quarter in a single day. It kept sliding after that, hitting an all-time low of 0.08 in August.
For the past six months, everyone has been asking the same question: how will OP make money going forward? Today, we got an answer. Uniswap has opened a store of its own, and this time it’s handing the whole thing over to OP to run—from opening the doors to handling any problems. The official handover is on the 29th of this month. This is different from before. Previously, clients just used your setup and could leave whenever they wanted. Now, you’re directly managing their store, so they depend on you.
Uniswap is one of the biggest projects in the crypto space. The market is bullish on OP again because Uniswap is willing to hand over its entire store. From its August low, OP is now at 0.152—nearly double. But a few things are still unclear.
Uniswap hasn’t disclosed how much it will pay OP, so we don’t yet know whether that can make up for the business Base took away.
More than half of OP’s tokens have yet to be released, so if the price rises, some holders may sell. The 0.166 level above was the high back in May. If OP reaches it for the first time, some people will probably cash out.
Most importantly, after the handover on the 29th, we’ll see whether a second store comes knocking. One could be luck; two would show that this business model can really work. $OP
France advances a proposal to require declarations for crypto self-custody. BTCUSDT closed down 1.22% this week, ranking 128th in a 200-week sample, with 72 weeks performing worse. These figures suggest that expectations of tighter regulation did not push BTC futures into a deeper weekly decline. However, BTC closed lower on 4 of the 8 days this week, with volatility concentrated on October 7, October 8, and October 12. For BTC futures traders, the key thing to watch is not the proposal’s headline, but whether they can accurately account for position size and funding costs as prices move back and forth between 81711 USDT and 83723.1 USDT.
What happened this week? On October 7, BTC opened at 85507.6 USDT and closed at 83281.9 USDT, down 2.6%—the biggest daily drop of the week. It continued lower on October 8, closing at 81711 USDT, down 1.89%, and setting the weekly low. Then, from October 9 to October 11, it closed higher for three consecutive days. On October 12, it fell another 2.28% to close at 81813.4 USDT, erasing almost all of the previous three days’ gains. The price neither fell below 81711 USDT nor broke above 85507.6 USDT during the week, remaining within a range bounded on both sides.
Popular posts on the Square argued that France’s move to advance a proposal requiring declarations for crypto self-custody could heighten expectations of tighter regulation, but BTC futures prices did not enter a one-way decline. Instead, they repeatedly moved back and forth between 81711 USDT and 83723.1 USDT (paraphrased; does not represent this site’s views). Other posts cautioned that regulatory news can be interpreted differently during Asian and European/U.S. trading hours, and that short-term traders should watch for gaps and changes in funding rates (paraphrased; does not represent this site’s views). My view is that self-custody declarations affect the holding and reporting processes, not the rules for futures trading, so the daily price action looks more like a sentiment-driven fluctuation than a trend reversal.
To be frank, high leverage can turn a 1.22% weekly decline into a much bigger number in your account. BTC closed lower on 4 of the 8 days this week, and if you bet the wrong way, leverage won’t leave you much time to react. Being the best week is a conclusion drawn in hindsight. This week ranked 128th, with 72 weeks performing worse—a position that is neither the worst nor anything to get excited about. #FranceAdvancesCryptoSelfCustodyDeclarationProposal
$ETH Ethereum is currently at 2505 and has been moving sideways for two days. What should we do this afternoon?
On the 2-hour chart, the price has just climbed back from 2378. EMA60 at 2522 and EMA90 at 2540 are putting firm pressure on it, and the medium-term bearish trend remains intact. The MACD is showing signs of a bullish crossover, but the histogram bars are weak.
The 15-minute chart is even more tedious: the five moving averages are clustered around 2507–2509, and the Bollinger Bands have narrowed to just $17 of room—a classic sign of a major move brewing.
Don’t chase longs.
For shorts, wait for a rebound into 2515–2522 to meet resistance before entering. Set a stop-loss above 2532, with targets at 2500 to 2485.
For longs, only scalp: if 2500–2502 holds, enter with a small position. Set a stop-loss at 2495 and take profit at 2512.
In a sideways market, going in heavy is just digging yourself a hole. Stop-losses matter more than direction. #ETH合约
$BTC U.S. inflation has suddenly flashed a dangerous warning sign!
Core CPI climbs to 2.6%!
The highest level in nearly three months.
Expectations for Fed easing are being put to the test once again.
Can BTC withstand this wave of macro pressure tonight?
The latest U.S. core Consumer Price Index (CPI) rose 2.6% year over year, its highest level in nearly three months, indicating that inflationary pressure remains even after excluding food and energy. Core CPI is one of the key indicators the Federal Reserve uses to assess inflation trends. If price pressures continue to rise, market expectations for future rate cuts could be dampened, while Treasury yields and the U.S. dollar may get a boost.
What really matters next is whether the 2.6% reading came in above or below market expectations, and how Treasury yields actually react after the release. If the data exceeds expectations, BTC could face further short-term selling pressure. But if the market has already priced in the risk of rising inflation and spot buyers step in to absorb the supply, we could instead see a rebound once the bad news is out. Tonight, keep a close eye on the second wave of market reactions after U.S. stocks open at 21:30.
Core CPI hits a three-month high, and the market needs to reassess the path of interest rates.
If BTC can hold key support despite macro pressure, the bulls may get a chance to seize the initiative again!
Ethereum, you're letting us down! Institutions are selling off—what's going on? A Bitcoin whale finally makes a move! I was stunned after looking at the on-chain data...
分析师舒琴
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Ethereum, you’re letting us down! Institutions are selling off en masse—what’s going on? Bitcoin whales finally make their move! I was stunned after looking at the on-chain data...
FSB issues major warning about global financial stability The $300 billion stablecoin market faces run risks
Guys, Ahead of the G20 meeting, the FSB released its latest report and sounded the alarm on stablecoins. The global stablecoin market, worth around $300 billion, could still face a run crisis—even if reserves are fully backed.
The main source of risk is cross-border asset mismatches. Stablecoin issuers set up affiliates in multiple countries. Redemption requests may be concentrated in one country, while reserve assets are held in another jurisdiction. When panic hits the market, restrictions on moving funds across borders can prevent reserves from being quickly transferred to meet redemptions, triggering a run.
The biggest contradiction is this: on-chain stablecoins can be redeemed 24/7, but reserve assets are mostly U.S. Treasuries and bank deposits. Traditional financial markets have limited trading hours. Crypto users can withdraw their coins at any time, while trading in the underlying assets may be closed. This liquidity timing gap magnifies the risk.
What's more, of the roughly $300 billion in the global market today, about 99% is pegged to the U.S. dollar. If a large-scale run occurs, issuers could be forced to sell U.S. Treasuries, transmitting the risk to traditional financial markets. This wouldn't just be a problem within crypto.
Put simply, if something goes wrong, no one is responsible.
Guys, I think this makes a lot of sense.
First of all, this timing gap alone is hard to resolve. Different time zones will inevitably create some discrepancies.
The same goes for stock tokens. Why do they keep having those crazy wicks? It's also because of timing differences that create discrepancies.
And they're all pegged to the U.S. dollar. What happens if the dollar runs into trouble?
#比特币市占率回升至60% BTC dominance is back above 60%—the signal is now clear: Bitcoin is taking control of the market again! There’s been an interesting pattern in the market lately: BTC only needs a slight bounce to climb back above $84,000, while many altcoins are still struggling and haven’t even recovered their earlier losses. Bitcoin dominance is now back around 60%, indicating that BTC is accounting for a growing share of the market’s total value, and the divide between stronger and weaker assets is becoming increasingly clear. Looking back at previous market cycles, funds often flow into BTC first. Only after Bitcoin establishes a trend and market confidence returns do they have a chance to spread into other sectors. But it’s not yet time for a broad rotation of funds. Many altcoins may look cheap, but in reality they lack sustained buying pressure. If BTC breaks through resistance around $84,350, market attention is likely to focus even more on Bitcoin. At this stage, I’d rather follow the market’s strongest performers than bet on altcoin season ahead of time. 👇 Click the link below to go straight there!
Damn, the NFT sector has taken another major hit! Former market leader Blur announced it’s shutting down its frontend, and the news sent $BLUR plunging 30%!
Remember how crazy NFTs used to be?
A single picture of a monkey sold for hundreds of thousands of dollars. Blur attracted hordes of users with trading incentives and airdrops. So many people traded every day, hoping to strike it rich.
Now even Blur is scaling back its business!
According to the project’s announcement, the Blur.io frontend is scheduled to shut down on November 12, 2026. It will also stop matching new loans.
After the news broke, $BLUR reportedly plunged by around 30% at one point!
The most painful part is that people used to rush to trade NFTs. Now even one of the sector’s leading platforms is beginning to exit.
I remain bearish on $BLUR in the short term.
Liquidity in the NFT market is already weak, and the platform scaling back its services will further undermine holders’ confidence. A quick recovery in market enthusiasm seems unlikely in the short term.
For now, I’d rather focus on managing risk in my NFT positions, especially in niche collections with little trading volume.
Of course, the frontend shutting down doesn’t mean all NFTs will disappear, and existing assets won’t automatically become worthless because of it.
That’s the cruelest thing about crypto: the wealth-building opportunity everyone chased last cycle might not even have any liquidity to be found next cycle.
NFTs may see a new cycle someday, but this time, I’m in no rush to buy the dip!
AI memory leader SK Hynix plunges 7.1% HBM expectations cool Global semiconductor sector under pressure
Guys, Memory chip giant SK Hynix plunged 7.1% in a single day, dragging South Korea’s KOSPI semiconductor sector down with it. Optimistic expectations for AI HBM memory have seen a pullback.
SK Hynix shares closed down 7.1% in South Korea, after falling even further during the session. Trading volume rose significantly, with investors rushing for the exits. As the world’s second-largest memory chipmaker and a key HBM supplier, it’s a crucial link in the AI computing supply chain.
The main reason is that the market is concerned HBM orders may fall short of earlier optimistic expectations, compounded by investors taking profits. Investors are starting to worry that growth in demand for memory in AI servers could slow, and that the memory chip price-hike cycle may face uncertainty.
So what happened? SK Hynix plunged, Samsung Electronics weakened in tandem, and South Korea’s entire semiconductor sector came under pressure. Sentiment toward chip stocks in other markets was dragged down as well.
The current AI chip and HBM market could indirectly affect risk appetite for AI-related cryptocurrencies. A sharp sell-off in overseas tech stocks can easily weigh on sentiment in crypto markets.
Guys, the AI sector is getting increasingly tricky. At the slightest hint of trouble, selling pressure comes crashing down.
Strategy has struck again! It bought 250枚$BTC at an average price of $86,194, bringing its total holdings to a staggering 848,250枚—a new all-time high.
Meanwhile, the Fear and Greed Index plunged from 67 to 56, funding rates fell to a nine-month low, and the market is in despair. This is opportunity.
Strategy’s average purchase price is just $75,444, with a total investment of about $64 billion, and its unrealized gains remain substantial. More importantly, over the past 10 days, wallets holding between 10 and 10,000 BTC have collectively added 41,025枚. Their total holdings now account for 67.93% of the circulating supply, a six-week high. Large investors are buying aggressively while retail traders flee in panic—this kind of divergence often appears on the eve of a market reversal.
Trading approach: Stay firmly bullish and build positions in stages. BTC is currently trading around $83,000, with an RSI of about 55, in neutral-to-bullish territory. The MACD is still below the zero line, but the histogram is narrowing, and bearish momentum is clearly fading. Watch the immediate support zone at $80,000–$81,000. If it holds and a high-volume bullish candle appears, that would be the best entry signal.
Specific strategy: Build long positions in stages in the $81,000–$82,000 range, with a stop-loss below $79,500. The first take-profit target is $84,000–$85,000—the largest concentration zone for positions. A breakout could send the price straight to $87,500. The second take-profit target is $90,000. The $77,000 level is a dense on-chain accumulation zone, so even a short-term pullback would be an opportunity to add, not a reason to panic-sell.
Don’t forget: perpetual futures funding rates have fallen to -0.0044%, meaning shorts are paying longs. This often signals that a short squeeze is about to erupt. Strategy’s chairman has already said, “There’s room to add more.” What are you still hesitating for?