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Fractal’s Week 4 task ends tomorrow at 10 a.m.

This event was launched by UniHexa on October 13. The rules are simple: 40 spots are available each day, with 120 FB per address, on a first-come, first-served basis. It’s been running for five days, and it wraps up tomorrow at 10 a.m. Once the deadline passes, it’s over.

One bit of context worth mentioning: the last update on Fractal’s official account was posted on October 14, announcing the results of the FIP-30 retroactive rewards. Week 4 is currently the only official campaign still running.

Meanwhile, UniSat updated its DApp Center on October 13. Index Mining, Fractal Vote, SatWorld, Fractal Arena, and PrimeTriad on Fractal can now all be accessed directly from the wallet. After Week 4 ends, these apps will be the main things to use next—and you can open them with a tap in your wallet.

My take: with campaigns like this—limited spots and first come, first served—simple rules are actually a relief; at least there’s no guesswork. But with only 40 spots a day for five days, that’s just 200 addresses in total, so it’s perfectly normal not to get one.

When you join a limited-time campaign, do you show up right on time, or just play it by ear?

#fractalbitcoin #Bitcoin

There’s one thing different about tonight’s rebound compared with the last one.

Market cap rose 2.13% over 24 hours—not a huge move. But over the same period, total open interest across the market fell 1.97%, to $405.9 billion. Prices are rising while leverage is falling—this rally isn’t being fueled by borrowed money.

Compare that with the night before: $930 million in liquidations over 24 hours, affecting 175,000 people. The ones getting hit were longs who added leverage above $80,000. Tonight, liquidations shrank to $222 million, and shorts actually made up 51.79% of the total. The same crowd was long yesterday and short today.

My take: when judging the quality of a rebound, leverage matters more than the size of the gain. If open interest falls as prices rise, it suggests the money coming in is spot or low-leverage capital—and that kind of rally is less likely to fall apart at the first bump. By contrast, a sharp jump in open interest while prices are rising is when you should be cautious.

What matters more to you: the size of the rebound, or the structure of the trading behind it?

#BTC #比特币 #CryptoMarket

USDT once existed on Bitcoin—that was back in 2014, using the Omni protocol. Omni shut down in 2023. For more than a decade since then, stablecoins on Bitcoin have been a missing piece.

Today, UniSat laid out a three-step plan to fill that gap. First, the UniSat wallet and UniScan explorer will support sending, receiving, and looking up RGB-based USDT. Second, USDT trading pairs will launch on UniHexa, allowing users to trade native Bitcoin assets with it. Third, it will expand to more use cases. Its partner is Utexo, a company backed by Tether.

There’s one technical point worth highlighting. This USDT will use RGB’s client-side validation, with assets tied to Bitcoin UTXOs, while most transaction details stay off the public ledger. The compliance mechanism isn’t the familiar “freeze an address,” but rather “mark a UTXO”—the marked portion becomes non-redeemable.

Here’s my take: the key to this approach isn’t that “USDT is usable on Bitcoin again,” but the order of operations. The wallet and explorer come first, with trading pairs later—first solve “being able to receive and send it,” then solve “being able to trade it for things.” Trading depth has never been what’s held stablecoins back on Bitcoin.

There’s no official launch timeline yet, and the Lightning Network is further down the road.

What do you think is the first hurdle for stablecoins on Bitcoin: the technology, or having enough people willing to use them?

#USDT #比特币 #UniSat

Earn points while waiting for a token launch—another project made an announcement yesterday.

Perpetuals DEX StandX announced that it will no longer pursue a token launch, and will instead distribute $DUSD in an airdrop with no vesting. Its founder previously led Binance’s futures business. The project took no outside VC funding, and its TVL once peaked at $200 million, but it never broke into the top three perpetuals DEXes.

The timeline is very specific: starting October 20, perpetuals will be reduce-only; airdrop eligibility checks open on October 26; the claim window runs from November 1 to December 31; on January 15, 2027, any remaining positions will be closed at mark price; and the deadline to withdraw and redeem is January 31. The only thing they haven’t said is how much each person can claim—we’ll have to wait until claims open to find out.

My take is that what’s worth watching here isn’t the amount, but when the link between points and tokens actually matters. While a project is running, points are like options; when the project changes course, they’re just a record.

Do you have points from a project you’ve been farming for ages that still hasn’t launched a token?

#StandX #空投 #Crypto

In 24 hours, 185,000 traders were liquidated, totaling about $980 million. More than 90% were long positions.

Bitcoin fell below $81,000, down around 3% in 24 hours. Ethereum dropped 5.5%, falling below $2,400. Both fell, but $ETH’s decline was nearly twice as steep as $BTC’s.

The money didn’t flow out evenly. On October 14, the settlement date, U.S. spot Bitcoin ETFs saw net outflows of $153 million, while Ethereum ETFs saw about $130 million in net outflows—for a combined $390 million. Looking at the week as a whole, Bitcoin ETFs saw $151 million in outflows, while Ethereum ETFs saw $190 million. Ethereum actually had greater outflows.

The gap in the declines isn’t about sentiment; it’s structural. Prices fall faster where leverage is concentrated. Long positions in Ethereum were more crowded than in Bitcoin, so in the same downturn, more of them were swept away.

I don’t focus on which one fell more. I focus on which one gets cleared out first. Only then do you get a real price.

Do you think this is leverage being flushed out—or just the beginning?

$BTC $ETH

#比特币走势分析 #以太坊ETF批准预期

U.S. CPI rose 3.7% year over year in September, versus expectations of 3.6%. Just 0.1 percentage point higher.

As a result, the odds of a rate hike in October nearly doubled, from 22% to around 44%, and the 10-year Treasury yield hit 5.3%. $BTC fell from 83,900 to around 81,500, while $ETH dropped to 2,440. The total crypto market cap shed about 4.5% in 24 hours. The only gainers were Monero, TRON, and LEO, up between 1.6% and 3.9%.

That 0.1 percentage point doesn’t change any company’s profits. It changes the price of money itself. Interest rates are the denominator for global assets; when the denominator moves, all risk assets get repriced together.

My take: on days like this, looking at projects is pointless. You need to watch where the money is going. Bitcoin dominance rose to 59.4%. Many people see that as bullish, but I read it the opposite way—it’s rising because other coins are being sold off harder. Money isn’t rotating between sectors; it’s moving out. Since October, Bitcoin ETFs have still seen net outflows of about $707 million.

Price is the result; flows are the cause. When data like CPI comes out, the first thing I look at has never been how much prices have fallen.

When you see macro data like this come out, do you adjust your positions first, or do nothing at all?

#比特币 #CPI

Binance is shutting down its mining pool.

The announcement was made on October 13, and operations will cease on November 10 at 15:00 (Beijing time). It’s not just the mining pool itself that’s affected: Pool Savings, cloud hashpower, transaction acceleration, Telegram hash rate alerts, and the mining pool API are all on the shutdown list. Users must complete identity verification and any required steps by November 11 at 07:59 to receive their remaining rewards. The mining pool page will remain available for 14 days and close permanently on November 24 at 15:00.

The pool launched in April 2020 and has been running for more than six years. According to Hashrate Index, by the end of 2025 it had about 26 EH/s, or 2.3% of the network’s total hash rate, ranking ninth.

So shutting it down will have almost no effect on the network’s total hash rate—2.3% is a small share. But this was one of Binance’s own business lines. After running smoothly for six years, it’s being shut down just like that, and the resources are probably being moved elsewhere.

One detail that’s easy to miss: the announcement gives the time operations will cease, not when the service will go offline immediately. The real cutoff for users is November 11 at 07:59. After that, you won’t get to choose what happens to your remaining rewards.

Do you still have any mining machines running on Binance Pool? If so, check which payout cycle your earnings are settled on.

#BTC #Binance

The most tangible thing in the Bitcoin ecosystem today isn’t the price—it’s access.

UniSat Wallet has updated its DApp Center, splitting it into two sections: Bitcoin DApps and Fractal Bitcoin DApps. The Fractal section currently lists five: Index Mining, Fractal Vote, SatWorld, Fractal Arena, and Primetriad.

Before, you had to search for these projects in different places. Now you can find them right in your wallet.

Also launching that same day was a community-made project map called BTC GO, which brings Bitcoin ecosystem projects together on one page. UniSat says it will add the map in its next update.

One official, one community-made—they’re doing the same thing: moving access points out of chat messages and spreadsheets and into a place you can open with a single click.

One easy-to-miss detail: Fractal and Bitcoin mainnet share the same names for Runes and Alkanes, but the same name can refer to different things on different chains, and their progress can vary greatly. Check which chain you’re on before looking at the data.

How do you usually find new projects in the Bitcoin ecosystem—through your wallet’s listings or through messages in group chats?

#比特币 #UniSat #FractalBitcoin

This morning it broke below 82,000, and tonight it climbed back above 84,000 — Bitcoin made a full round trip today.

During the Asia session, it was hit hardest, dropping to around 81,000, triggered by a broad sell-off in Asia-Pacific stocks, with South Korea’s benchmark index briefly falling more than 7% intraday and triggering a circuit breaker. By evening, international oil prices had first moved lower, with U.S. crude breaking below $92, the dollar and U.S. Treasury yields easing as well, and Bitcoin followed that path back up.

But the pressure has not eased. U.S. spot Bitcoin ETFs saw net outflows of about $386 million in the first seven trading days of October; across the entire crypto market, roughly $812 million in liquidations occurred over the past 24 hours, more than 80% of which were long positions. The U.S. 30-year Treasury yield is still around 5.7%, a near-20-year high.

Tomorrow, the U.S. September CPI is coming out, which is the last major variable this week.

Do you think tonight’s rebound was just short covering, or is someone really buying the dip? $BTC #Bitcoin

Bitcoin was still at $84,000 last night, but fell below $82,000 this morning, down 0.9% to 2.1% over 24 hours (depending on the source).

This time, the push didn’t come from fear—it came from interest rates. In September, the Fed raised rates for the first time in three years, lifting the range to 3.75%–4.00%, citing inflation driven up by the war in Iran and AI demand. Yesterday, Cleveland Fed President Beth Hammack struck another hawkish note, saying inflationary pressures were “broad-based” and advocating for small, frequent adjustments. Markets now put the odds of no change in October at around 78%, and the odds of a rate hike in December at around 88%.

The market structure during the drop is more interesting than the size of the decline. About $498 million in positions were liquidated across the crypto market over 24 hours, including $416 million in long positions—more than 80% of the total. Longs took the biggest hit, while shorts largely avoided being squeezed this time. US spot Bitcoin ETFs saw net outflows of about $380 million last week.

The Fear & Greed Index reads 55, in neutral territory. US September CPI is due this Wednesday.

Do you think this move is pricing in expectations of rate hikes, or is it simply a breather after a big run-up? $BTC #bitcoin #CPI数据

#unihexa Week four is the final week of this campaign, and the organizers have made one rule crystal clear.

The four-week campaign runs from around September 22 to October 18. Week four starts at 10 a.m. on October 13 and ends at 10 a.m. on the 18th. The reward is still 120 FB per address, with 40 submission slots available each day on a first-come, first-served basis. There are just three tasks: accumulate more than 5U in buy volume on UniHexa, join its Discord, and publish a post on X and keep it public for at least 24 hours.

There are two ways to qualify: hold a task whitelist, or use an address that traded more than 5U on UniHexa before 5 p.m. on September 17.

What you really need to pay attention to isn't any of that. It's the line on the official campaign page: you can qualify only once for the entire campaign, and one whitelist counts as one submission. The page says that anyone who has already submitted must get another, new whitelist to participate again.

In other words, the rules on how to get in have been loosened, but the limit on how many times you can claim the reward hasn't. It's easy to confuse these two things.

Are you joining with a whitelist, or do you already have a trading history? #fractalbitcoin #Bitcoin

Haven’t managed to get on the whitelist yet? You might already qualify.

#unihexa is a liquidity market on #Fractal , trading Bitcoin-native assets such as BRC-20 and Runes. For the first few weeks, its weekly task campaign was whitelist-only—you had to get on the list before you could access the task page and submit. Each address gets 120 FB, with 40 spots opened each day on a first-come, first-served basis. Even getting on the whitelist meant racing to be the quickest in the comments.

Yesterday, the team announced that Week 4 starts on October 13, and opened up another way to qualify: if you traded more than 5U on UniHexa before 17:00 (UTC+8) on September 17, your address automatically qualifies.

In other words, eligibility has shifted from something you had to claim to something you may have already earned. If you’ve left a record on-chain, you don’t need to rush for a spot this time.

Existing whitelist spots remain valid, and both routes are available. As for how many entries each address gets, we’ll have to wait for the details when the campaign starts on the 13th.

Quick question: Have you used UniHexa before September 17? #BRC20

The words “build a national blockchain network” have been written into a document at the highest level.

On October 9, the Communist Party of China Central Committee and the State Council issued an opinion on developing new quality productive forces, setting out 19 measures. One of them mentions the “national blockchain network” alongside the “integrated national computing network.” The news has been widely circulated in crypto circles.

The document itself says more than the headline: it does not mention $BTC or any cryptocurrency. The text focuses on integrating the real and digital economies, the data factor market, the East Data, West Computing initiative, and other topics. It also warns officials against “shifting away from the real economy toward the virtual.”

So the significance of this news isn’t about crypto prices. China launched the national-level Blockchain-based Service Network (BSN) back in 2020, but that network explicitly does not support public blockchains like Bitcoin. The relationship between the new document and BSN has not been explained.

The companies that will really be affected are domestic providers of on-chain technical services, data notarization, computing-power scheduling, and similar services—they now have a checklist they can act on.

When you see the words “national blockchain network,” is your first reaction that it’s bullish, or do you first want to know whether it has anything to do with public blockchains? #区块链 #Policy

Fractal has completed this month's buyback quota today.

UniSat's FB buyback plan—$200,000 per month for five consecutive months—has now been fully executed for September, with a total of 541,944 FB bought back. These coins won't return to the market; they'll be locked for at least 60 months and used for Indexer staking.

In the same month, Fractal also completed its first halving and activated FIP-102 at block 2,100,000: block rewards on Fractal have been reduced to 6.25 FB, with another 6.25 FB allocation reserved for future distribution on Bitcoin mainnet. The total supply cap of 210 million remains unchanged.

These two measures work in the same direction: one takes coins off the market and locks them up, while the other slows the rate of new issuance. Together with the more than 4.1 million coins burned previously in a one-time event, these steps are all reducing supply, not increasing it.

However, the effects of buybacks and halvings won't be apparent in just a week. We'll have to see whether purchases continue over the next four months, and how much is bought.

For those working with on-chain assets, which of these two measures—buyback and locking, or mainnet distribution—has a greater impact on how you participate? $BTC #fractalbitcoin #BRC20😘

The biggest risk to a hardware wallet has never been its firmware getting hacked.

This time, the problem was the supply chain. Devices sold by CryptoBilis, Ledger’s distributor in Malaysia, are suspected of having been tampered with before they reached users. On-chain investigator Specter estimates the losses at over $86 million, involving BTC, ETH, and TRON. One security firm puts the figure close to $90 million.

The most troubling part: Ledger’s own Genuine Check verifies whether the chip is genuine, but it can’t detect whether extra components have been soldered onto the board. Even a device that’s been tampered with could still be certified as “genuine” by the official tool.

On October 9, Ledger suspended all sales and shipments from this distributor. If you bought from CryptoBilis in the past 90 days, the official advice is not to power on and initialize the device. If you’ve already initialized it, switch to a new device and a new recovery phrase.

Only buy hardware wallets through official channels—don’t be tempted by cheaper third-party sellers. $BTC

Did you buy your wallet from the official website or through a third-party seller? #Ledger #bitcoin #Crypto

Wrapping brc-20 on Fractal now takes just one click.

UniSat officially answered a question today and cleared things up: Before, wrapping brc-20 on Fractal meant first inscribing a transfer, then going back to InSwap and clicking Wrap. Now you can just click Wrap—no need to inscribe first or sign multiple times. Two steps have become one. It’s the smallest, but most practical, update in this round of mobile updates.

Something else is also in the works: On October 14, UniSat founder Lorenzo will join Utexo for an X Space on what happens when USDT comes to Bitcoin. Utexo is the Tether-backed Bitcoin payment infrastructure project, and it plans to launch USDT on the Bitcoin network this month.

One is about the steps involved; the other is about what you can hold in your wallet. They’re different directions, but both are making it a little easier to get into the Bitcoin ecosystem.

#fractalbitcoin #bitcoin

A question for you: What should come next for brc-20—simpler operations or a wider range of tradable assets?

Three overnight developments collided.

First, the U.S. Federal Reserve minutes were released: 19 officials unanimously supported a 25-basis-point rate hike, lifting the interest rate to 3.75%–4.00%—the first increase since 2023. Most officials think there could be another hike before the end of the year. The same day, initial jobless claims in the U.S. came in at 197,000, below expectations.

Second is oil. In intraday trading, Brent crude broke above $104, up more than 4%, while WTI rose to around 91.7. The yield on the 10-year U.S. Treasury note is at 5.31%–5.33%, and the 30-year touched 5.72%.

Third, the U.S. stock market split on its own first: the Dow rose 0.1%, the Nasdaq fell 1.25%, and AI-weighted stocks were sold off.

Crypto didn’t split. Bitcoin is at 81,834, down 1.67%; Ethereum at 2,479, down 3.44%; and NEAR is down 14.37% over the day. But Bitcoin’s market share climbed to 59.32%.

According to CME pricing, the probability of keeping rates unchanged in October is 80.6%, while the probability of cumulative 25-basis-point hikes by December is 64.1%. The market has pushed rate-hike expectations from October to December. The next real test point is September CPI on October 14.

$BTC #Bitcoin #Ethereum

One question: if the hike really happens in December, what do you think will react first—the Treasury yields, or crypto leverage?

The trading market on Fractal has been adding quite a bit over the past two days.

Yesterday, UniHexa listed ORDI/BTC, its first BRC-20 asset. Before that, the only assets available to trade on the platform were three Runes pairs: UNCOMMON•GOODS, DOG, and MIM. The official post was very clear: it will continue adding assets across both BRC-20 and Runes. Its bio was also updated to read, “Trade BRC-20, Runes & more on-chain.”

A little over a day after launch, engagement on the post rose from 17/12/40 to 38/32/116. It’s not just the official account talking about it—people in the community have started doing their own analysis. One person described UniHexa as “a non-custodial, Bitcoin-native asset order-book DEX built by UniSat, supporting both BRC-20 and Runes,” while another included it in a roundup of recent Bitcoin ecosystem projects, ranking them one by one.

There’s also an event running alongside the order book. UniHexa’s task campaign is now in its third week, with 40 submission slots available each day on a first-come, first-served basis. Each eligible address gets 120 FB. Slots are whitelist-only, so it’s worth making clear that not everyone can join.

#fractalbitcoin #bitcoin

A question: the official account says it plans to add more on both fronts. Which do you think would be more useful to expand first—filling out the Runes side or listing more BRC-20 assets?

Bitcoin has fallen below 84,000 for the first time since last November.

It was trading just above 83,300 this morning, down 2.6% over 24 hours. Ethereum fell even harder, to 2,571, down 4.7%. Total liquidations across the crypto market reached $555 million in 24 hours, more than 90% of them long positions—$487 million.

Three things pushed it down: Brent crude broke above $101; the 10-year Treasury yield touched 5.361% intraday and the 30-year hit 5.730%, both their highest levels since 2002; and Bitcoin failed to break through the 87,000 level for the third time.

The Fed’s September minutes also came out yesterday: a 25-basis-point rate hike was approved unanimously, and most officials still wanted to hike again before year-end. But September nonfarm payrolls rose by only 29,000, and markets immediately changed their tune: the probability of a rate hike in October fell from 70% to 20.5%.

On one hand, officials still want to raise rates; on the other, the jobs data has softened.

$BTC #bitcoin #Ethereum

A question for you: which side of this story do you trust more—the oil and Treasury yield angle, or the jobs data?

The market has turned around today. Bitcoin went from testing $87,000 for the third time to falling below $84,000. It’s now around $83,600, down a little over 2% in 24 hours.

The losses aren’t evenly distributed: Ethereum is at $2,579, down 4% to 5% over 24 hours—twice Bitcoin’s drop. Liquidations across the crypto market totaled $400 million to $555 million over the past 24 hours, mostly long positions.

Two forces are driving the sell-off: Brent crude has broken above $101, Treasury yields are rising, and the dollar is strengthening. Bitcoin failed to break through $87,000 for the third time today, triggering a cascade of selling.

But fund flows haven’t turned negative across the board: on October 6, U.S. spot Bitcoin ETFs saw net inflows of $119 million, while Ethereum ETFs saw net outflows of $202 million that same day. Money is flowing into one and out of the other, in line with their price movements.

For Bitcoin, watch whether it can reclaim $84,000. For Ethereum, keep an eye on its 24-hour low of $2,591.

$BTC #bitcoin #Ethereum

A question for you: Which matters more to you this time around—BTC reclaiming $84,000, or when ETH’s losses start to narrow?