胡汉三-Eddyhu Infinity

#加密市场观察
With the ringing of the NASDAQ bell on November 20, 2025, QLGN officially changed to AIXC. This strategic investment by Faraday Future Intelligent Electric Inc. (NASDAQ code: FFAI, referred to as 'FF') in Qualigen Therapeutics, Inc. (NASDAQ code: QLGN) was officially completed, with a total investment of approximately $41 million, led by FF with about $30 million, and FF founder and Co-CEO Jia Yueting personally investing about $4 million, along with other investors (including blockchain technology company SIGN Foundation supported by Binance Labs, Sequoia Capital, IDG, and Circle).

#加密市场观察
Today, let's popularize some knowledge related to Perps DEX. You can bookmark this information so that when news comes out about how a certain DEX is doing, you'll have a concept in mind and will be able to quickly decide what measures to take.
The full name of Perps DEX is Perpetual
Decentralized Exchange refers to a decentralized perpetual contract trading platform, which combines the trading flexibility of perpetual contracts with the security and transparency advantages of decentralized exchanges. As a result, it has become one of the most notable tracks in the cryptocurrency field.

We can break down this full name to better understand its meaning:

#比特币波动性
Michael Saylor, born in 1965, entered the Massachusetts Institute of Technology on a scholarship, majoring in aerospace engineering and the history of technology. Early in his career, he worked as a computer simulation planner at DuPont, gaining experience in software and market analysis. In 1989, Saylor co-founded MicroStrategy with MIT alumni, initially focusing on business intelligence software. In August 2020, he led the company to adopt a large-scale Bitcoin purchasing strategy, and since then, the company has gradually transformed from a software enterprise to a market-recognized 'Bitcoin treasury company.' In August 2025, the company completed its legal name change (from MicroStrategy to Strategy Inc).

#加密市场观察
MSCI is planning to assess the exclusion of companies like MicroStrategy (now renamed Strategy) that hold a large amount of digital assets. The core reason is that the asset structure of these companies no longer aligns with MSCI's positioning of 'operational enterprises.' The final decision will be announced on January 15, 2026.

1. Core Evaluation Criteria: In October this year, MSCI released a consultation document on the updated index compilation methodology, proposing to assess whether companies whose main business is not operational activities but primarily hold a single highly volatile asset should remain in the index. It also explicitly proposed to exclude companies with digital asset holdings accounting for 50% or more of total assets from the global investable market index series. As the world's largest Bitcoin enterprise holder, MicroStrategy holds 77% of its assets in Bitcoin, which completely crosses MSCI's core red line, making it the most关注 company in this exclusion assessment.

On 2025/11/5, the words are still fresh, has buddy big brother passed away again?
On 2025/11/8, I predict that the market will be very bleak in the next two months. I didn't expect it to be this bleak in just under two weeks.
Just today, buddy big brother's long ETH position was liquidated, resulting in a loss of 1,047,000 dollars. The total loss is now 20.24 million dollars, and he used the remaining 10,000 dollars to continue opening 25x long ETH.

Big brother, I know your money comes from the wind, but you can't just make things up like this.
Buddy big brother's recent losses are not coincidental; they are the inevitable result of his high-leverage gambling. I wrote about it earlier. Previously, he made a profit of 45 million dollars by heavily investing with high leverage, with his total account amount approaching 60 million dollars, making him a 'legend' in the crypto world. However, after the sudden market crash of cryptocurrency assets on October 11, he not only failed to cut his losses in time but instead fell into a death spiral of 'holding onto positions + increasing leverage.' His positions were liquidated multiple times, not only losing all profits but also quickly shrinking his 15 million dollars in principal. For example, on November 3, his 25x long ETH position was liquidated, resulting in a loss of 15 million dollars. By the 4th, only 16,700 dollars remained to open long positions, and 24 hours later, it was liquidated to just 1,718 dollars. In just 47 days, he fell from peak to trough.

The significance of whether the United States raises interest rates in December is actually minimal, as the market has already priced in the expectations. Currently, what might trigger a major earthquake is Japan.
1. The controversial remarks of Takashi Sato regarding Taiwan, claiming sovereignty over Dokdo, have triggered tensions in the East Asian region and damaged bilateral relations between China and Japan, as well as Korea and Japan. If this continues, it will inevitably deteriorate from an economic level to a military level. Once this happens, it will definitely be a significant negative.

2. Japan's interest rate hike: The core meeting for the Bank of Japan's decision on whether to raise interest rates is scheduled for December 19. In the previous monetary policy meeting on October 30, the central bank voted 7 to 2 to keep the policy interest rate unchanged at 0.5%. However, the meeting minutes and committee statements indicate that many believe the timing for a rate hike is approaching. About half of the observers of the Bank of Japan had anticipated an interest rate hike in December. Once the rate is raised, it will trigger a wave of cryptocurrency sell-offs, leading to significant downward pressure on prices. This is because many investors are currently engaging in cryptocurrency arbitrage trading by borrowing low-cost yen. Once interest rates rise, the cost of borrowing yen will suddenly increase, forcing arbitrageurs to sell off cryptocurrency assets on a large scale to repay their debts, which will directly cause sharp fluctuations in cryptocurrency prices in the short term. Additionally, a rate hike will increase the attractiveness of yen-denominated assets, causing funds that were originally flowing into the crypto space to shift towards low-risk traditional assets like Japanese government bonds, indirectly draining liquidity from the crypto market, making it strange if prices do not fall.

On November 18, 2025, both chambers of the U.S. Congress passed a bill requiring the Justice Department to disclose documents related to Jeffrey Epstein's cases. The bill is currently awaiting President Trump's signature, and once signed, the Justice Department must advance the document disclosure within 30 days. This years-long 'battle for confidentiality' has finally made a breakthrough. The files, involving over 250 underage victims and entangling Trump, Clinton, and other business elites, not only contain complete visitor logs (with timestamps accurate to the second) held by the FBI but also hide the financial trajectories of Wall Street institutions — documents show that over 20 institutions, including JPMorgan and Deutsche Bank, continued to cooperate with Epstein for many years after his crimes were exposed, with nearly $1 billion flowing through hedge funds, private transfers, and other means between 2016 and 2019 alone.

Yesterday a fan asked me how to make a profit from contracts, he had made losses himself because he just started and couldn't figure out the direction, asking me for suggestions:
I said making money from contracts is not easy, if you thoroughly study the eight-step method I sent you, you can achieve stable profits; other than that, there really isn't any miracle remedy;
He said his principal is relatively ample, but he just can't understand when to enter and exit;
I want to see that he doesn't seem interested in deep learning, so I suggested the simplest method of trading Bitcoin, entering part of the position at the daily low points, slowly adding positions on dips, and slowly selling on highs; by the end of the year, the principal can double;

In the cryptocurrency trading world, there are contracts and spot trading. 99% of the people entering now are aiming for contracts. They all want to take small risks for big rewards and quickly realize their financial freedom dreams. However, I want to tell you that 99% of people in contracts are losing money. I have seen real data before, but it is not available now. The final outcome of contracts is liquidation.

Relatively speaking, for spot trading, you mainly need to choose the right target and judge the trend, although it may be slower to make money, it is stable.
I made a table comparing the differences between spot and contract operations, as follows:

For spot trading, basically, you only need to complete the first two steps. If you can't even judge the trend, hurry up and contact me to learn; otherwise, it's best to just withdraw from the circle.

#加密市场回调
Every trader must be able to build their own exclusive trading system and say goodbye to placing orders based on feelings.
Why is it not recommended to operate based on others' signals? Because behind every operation, there is a set of trading systems that maintain it, not just simple buying/selling. If someone says this can go long, that can go short, and you just follow that operation, then you are likely to become cannon fodder.
If you want to mix in this circle, you must be able to build your own exclusive trading system. Why is it called exclusive? Because everyone's trading habits are different, and what suits you is the best.

“Haqimi～North and South Mung Bean～” When the captivating two-dimensional melody plays in a loop, no one expected this to become the A-share “limit-up secret code.”


On November 13, Joyoung's stock price surged to the limit-up board with a cat-like rhythm, closing at 11.06 yuan/share, causing shareholders to exclaim “I drank the sweetest capital bean milk,” but the main party quickly clarified: “This bean milk is really not mine!”
The protagonist of the story is a new product called “Haqimi North and South Mung Bean Milk.” Hangzhou Joyoung Bean Industry brought the brainwashing meme from the anime (Uma Musume) to the shelves, with packaging featuring “Haqi Zhe” and “Haqi Minister” meme images, combined with the selling point of “0 fat and lactose-free,” and it was snatched up crazily by young people — total sales across all platforms exceeded 700,000 orders, with pre-orders extending a month ahead. The live stream was filled with interactions like “drink and turn into a kitten,” and even the local chicken restaurant joined in to comment “Haqimi.”

I still remember April 16 last year, when my total losses reached 1,000,000. I lay on my bed for a long time, unable to recover, feeling utterly hopeless; everything was over!
Yu sent a message saying, 'My parents agreed to let us go back to Chongqing to get our marriage certificate. Let's go back to Wushan together during the May Day holiday to see your parents and stroll around the county town to check out some houses,' along with a happy emoji. I stared at the message, my fingers trembling, and I didn't dare to reply for a long time.
I got out of bed, washed my face with cold water, sat on the stool and pondered for a long time, hesitating to pick up my phone and checking the available limits on various platforms. After some calculations, I could still scrape together three to four hundred thousand; I opened the insurance app again and bought two accident insurance policies. In case something happens to me, at least I can leave some money for my family, and I won't have to bear this 1,000,000 debt anymore.

Today was another busy day. It wasn't until 3:40 PM that BOSS went to practice table tennis, allowing me some spare time to sit at Burger King and write for a while.

This noon, I fried chicken breast, chicken legs, and potato chips, which smelled delicious. I intended to take some to BOSS, the wind instrument teacher, but unfortunately, he had to leave for a performance at 1 o'clock.

This morning, I finally finished reading Old Bao's speech draft from 10/29 during the break while accompanying the wind instrument class. I must say, Old Bao is a very capable person; every word he says is very sophisticated, with no leaks. He discussed three points in the context of stabilizing employment and preventing inflation: confirming a 1/4 point reduction in November, starting to stop the balance sheet reduction on 12/1, and leaving the possibility of another interest rate cut in December as suspense.

Chapter Two: The hole of online loans is a pit I dug myself.
In the spring of 2023, my account jumped back and forth in spot and contract trading. When I made money, I was happy to treat Lin Yu to a Chongqing hot pot and even sent some navel orange fertilizer money to my parents back in Wushan. When I lost, I hid in the bathroom smoking a cigarette, not even daring to answer calls from home.
Lin Yu's parents came from Chongqing to Hangzhou to see her. I welcomed my future in-laws at their grandmother's house near Wulin Square. During the meal, my future father-in-law asked, 'Hou Junjie, when are you going to settle down in Chongqing or Hangzhou? You can't keep renting forever.' I held my chopsticks, awkwardly smiled, and said, 'Soon, I just need to save up a bit more, aiming to pay a down payment in Wushan County next year.' Lin Yu kicked me secretly from the side, helping me smooth things over: 'Old man, we're still young, no need to rush, take your time, the house back home is also comfortable.'

Once earning 44.84 million US dollars, Machi, the Big Brother, has seen his account net worth hit a new low this morning, with only 129,000 US dollars left. In less than two months, over 59 million has vanished into thin air. This morning, he went all-in on ETH long positions with the remaining funds, using 25 times leverage, with an opening cost price of 3,264 US dollars. It seems he is preparing for a final gamble.
As of the time of writing, the account has made over 60,000 US dollars in profit.

Machi refers to Machi Bigbrother, usually indicating Huang Licheng, a Taiwanese-American male singer with a rich and diverse entrepreneurial experience. He is very capable of making things happen and is involved in various fields including music, live streaming, eSports, and blockchain. His hands are also covered with the X of the crypto circle, and let's see how he operates in the crypto world: