The Shitcoin Legend: The Night My CHIP Went from Worthless to Double
At 2:30 a.m., the only sound in Lin Hao’s Shenzhen rental was the clacking of his keyboard.
He stared at the nearly flat candlestick chart, his eyes bloodshot. His wallet held 30,000 CHIP, bought at an average price of $0.031—that was last month’s living expenses. The reason he bought was simple: someone in the group said the coin was going to be listed on Binance, and he believed them.
But the Binance listing rumor turned out to be fake. CHIP fell from $0.045 all the way to $0.028, leaving his account down more than 40 percent. His girlfriend had moved out the week before, leaving him with, “Go live with those stupid coins of yours.” Lin Hao hadn’t argued, because he really couldn’t afford the rent.
“If it drops for one more day, I’ll sell everything,” he told himself. He’d been repeating that for seven days.
At 3 a.m., his phone suddenly started vibrating like crazy. He opened Binance Square, and a post shot to the top of the trending list: a top market maker had confirmed a partnership with the CHIP team, and on-chain data showed a large amount of CHIP being transferred to cold wallets. He rubbed his eyes and read it again.
The chart started moving.
0.032, 0.035, 0.038. Lin Hao’s heartbeat sped up with the numbers. He didn’t dare breathe, afraid the price would fall back down the moment he exhaled. 0.040, 0.043, 0.045—he was back to breakeven. Rationally, he should sell here, at least to get his initial investment back.
But he didn’t.
“I made it through all that. Why not ride it a little longer?” Once the thought came to him, he couldn’t push it away. He watched the price break through 0.048, then 0.050. The group chat started blowing up. Someone yelled, “Ten cents!” Someone else shouted, “Chip to the moon!”
At 4:20 a.m., CHIP hit an intraday high of 0.05725. Lin Hao’s hands were shaking as he placed sell orders in batches, selling everything between 0.053 and 0.055. The moment the orders filled, he stared at the balance in his account: his USDT had gone from three digits to five.
He didn’t cheer or post a screenshot on social media. He just pushed his chair back, lay down on the bed, and stared at the ceiling for a long time.
His phone buzzed again. It was a message from his ex: “Are you asleep?”
Lin Hao glanced at it and didn’t reply. He opened his notes app and wrote one line: Never give up on what you believe in when you’re at your lowest.
Then he turned off his phone and, for the first time in three months, slept through the night.
The next day, CHIP pulled back to 0.048, and the group chat was full of wailing. But Lin Hao no longer cared. He knew the destination of this ride wasn’t money—it was that little bit of faith he’d nearly lost.
At three in the morning, the blue glow of his phone lit up Xiao Chen’s face. He stared at BEAMX’s candlestick chart, his fingers trembling slightly.
Three days earlier, Xiao Chen had seen a post on the Square from a crypto influencer called “Old Wang On-Chain.” It said BEAMX was about to break through 0.006, with a target price of 0.01. At the time, BEAMX was only 0.0028, and Xiao Chen was tempted. He did the math: if it rose to 0.01, 50x leverage would mean a return of nearly eighteen times his money. He had 20,000 yuan left in his bank account—the rent for next month.
“Just this once,” he told himself.
The moment he opened the position, his heart pounded like it was about to leap out of his chest. 0.002900, long, 50x, all-in. 20,000 yuan in margin, a position worth one million. Xiao Chen put his phone face down on the table, afraid to look.
On the first day, BEAMX rose to 0.0032, giving him an unrealized profit of 23,000 yuan. Excited, Xiao Chen paced back and forth in his rented apartment, already thinking about how he’d spend the money: pay off his credit card, pay the rent, and treat his buddies to a nice meal with what was left.
On the second day, the price fell back to 0.0030, and his unrealized profit shrank to 8,000 yuan. He reassured himself: Old Wang had said to hold on, and the long-term trend wouldn’t change.
On the third night—tonight—BEAMX suddenly plunged. 0.0028, 0.0026, 0.0025. Xiao Chen refreshed the page frantically, his palms slick with sweat. His liquidation price was around 0.002450, and the current price had already reached 0.002480.
He couldn’t add any more margin. His bank account was empty.
“Please, just go back up…” he murmured to the screen.
0.002460. 0.002455. 0.002450.
A line of red text appeared on the screen: Your position has been liquidated.
20,000 yuan—gone.
Xiao Chen tossed his phone onto the bed and stared blankly at the ceiling. From next door came the sound of someone gaming, shouting, “That’s awesome!” Suddenly, the voice seemed very, very far away.
He opened the Square, hoping to find the influencer’s post. It was still there, but the comments were now full of angry abuse. Old Wang’s latest post read: “BEAMX is undergoing a short-term correction. I’m bullish long term—hold on, everyone.”
Xiao Chen gave a bitter smile and turned off his phone.
He remembered the rule he’d made for himself when he first got into crypto: never touch high leverage. Turns out, rules are written in lessons—and it had taken losing 20,000 yuan for him to learn that one all over again.
That night, Xiao Chen learned not how to make money, but how to survive.
At three in the morning, in a rented room in one of Shenzhen’s urban villages, Chen Hao stared at his phone screen, his eyes bloodshot.
He had just finished his last bowl of instant noodles and, out of habit, opened Binance Square to read some posts. The feed was full of discussions about CHIP. Some said the coin was going to zero; others said the whales had already bailed. CHIP’s price was swinging wildly between 0.04258 and 0.05725, with daily trading volume topping ten million USDT.
Chen Hao had only 3,000 yuan left in his bank account. Last month, a futures liquidation had wiped out his final 20,000 yuan of capital. He had sworn never to touch leverage again, but with so little money, he couldn’t buy much even on the spot market.
“CHIP is only five cents. If I put 10,000 yuan in, it’ll be worth twenty times as much if it hits a yuan.” The thought latched onto him like a viper.
He knew it was a gambler’s mindset. His rational side told him to put down his phone and go to sleep. But three months of losses, rent reminders from his landlord, and his ex-girlfriend’s words—“You can’t even support yourself”—stabbed at his heart like knives.
At 3:17 a.m., he used every last yuan of his 3,000 to buy CHIP at an average price of 0.0435.
He fell asleep right after buying. It wasn’t that he was carefree—he was simply exhausted.
The next day, an alarm woke him at noon. Still groggy, he picked up his phone and nearly fell out of bed.
CHIP was at 0.05471, up 21 percent. His account was showing an unrealized profit of 1,300 yuan.
But that wasn’t even the craziest part.
He opened Square and saw that CHIP had surged to the top of the site’s most-discussed list. BEAMX was up 17 percent, and PARTI had risen 13 percent. The entire small-cap coin market seemed to have caught fire.
Chen Hao didn’t sell. He stared at the candlestick chart as CHIP climbed from 0.054 all the way to 0.057. His hands trembled as two voices battled in his head. One said, “Get out now. Take the profit and run.” The other said, “Wait a little longer. What if it hits ten cents?”
In the end, he sold everything at 0.0565. He walked away with 3,900 yuan, a net profit of 900.
Nine hundred yuan wasn’t a fortune, but it wasn’t nothing either. For Chen Hao, it was the first time in three months he’d made money in crypto.
He transferred 1,000 yuan to his mother, with the note “living expenses for this month.” He put the rest in his bank account and didn’t open another futures position.
CHIP later hit its intraday high of 0.05725 before falling back. Chen Hao didn’t regret missing the peak.
He posted on Square: “Started with 3,000 yuan, made 900, sent 1,000 to my mom. It’s not a get-rich-quick story, but at least today, I feel like I’m still alive.”
Some people mocked him for thinking too small; others said this was what crypto was really like. Chen Hao didn’t reply. He put down his phone and went out to look for a job.
Crypto has no shortage of rags-to-riches legends. What it lacks most are people brave enough to start over after losing everything.
Lin Wan first met Chen Yu in a Binance futures trading chat group.
It was the depths of winter in 2025. Bitcoin had just fallen below $60,000, and fear hung over the entire market. Most people in the group were lamenting their losses. Some were cursing, while others posted screenshots of their liquidations. Only two people were still calmly analyzing the market: one was going long, the other short.
The one going long was Lin Wan, whose username was “The Evening Breeze Fears No Cold.” She had opened a long position at $62,000, reasoning that the long-term trend hadn’t changed and the short-term pullback was a chance to add to her position.
The one going short was Chen Yu, whose username was “Yu, None of Your Business.” He had opened a short position at $65,000, reasoning that the macroeconomic environment was worsening and liquidity was tightening, so any rebound was an opportunity to short.
The two began arguing in the group.
Lin Wan said, “You don’t get it. On-chain data shows long-term holders are steadily adding to their positions. That means smart money is bullish.”
Chen Yu replied, “You don’t get it either. Net inflows to exchanges are at a record high. That means whales are transferring coins to exchanges to sell.”
Neither managed to convince the other. But from then on, whenever the market moved, they would both show up in the group, each sticking to their own position. People in the group started teasing them: “Stop analyzing and just make a bet. Whoever gets liquidated first buys dinner.”
Lin Wan ignored the jokes. But one late night, she secretly checked Chen Yu’s profile. His avatar was a stretch of ocean, and his bio read: “Hedging is the best love letter.”
She froze for a moment. Her heart skipped a beat.
In the spring of 2026, the market suddenly bounced back. Bitcoin climbed steadily from $60,000, and Chen Yu’s short position came under pressure. He said in the group, “I admit defeat this time. I’m getting ready to cut my losses.”
On a whim, Lin Wan messaged him privately. “Don’t cut your losses. I’ll share half my position with you. Let’s hedge together.”
Chen Yu was silent for a long time, then replied with one word: “Okay.”
That was their first private conversation. From that day on, they started chatting every day about the market, their positions, and how each of them had gotten into crypto. Lin Wan learned that Chen Yu was a quantitative engineer who wrote trading strategies by day and watched the charts at night. He wasn’t shorting because he was bearish; his model needed long and short positions to hedge against each other and reduce risk.
Lin Wan laughed. “So your love life is hedged too?”
“It used to be,” Chen Yu said. “Now I’m not so sure.”
They started watching the charts together. Lin Wan handled fundamentals and on-chain data, while Chen Yu focused on technical analysis and quantitative signals. Their trading styles were completely different, but strangely enough, their combined returns were much steadier than either of them could achieve alone.
Summer came, and the CHIP token suddenly took off, rising twenty-one percent in a day, from 0.04258 to 0.05480. Lin Wan excitedly shouted in the group, “I told you this coin had solid fundamentals!” Chen Yu messaged her privately: “Congratulations. Let me take you out to dinner tonight.”
They met in person for the first time at a café in Shanghai. Chen Yu was taller than she had imagined. He spoke softly, and his eyes crinkled when he smiled. He ordered an Americano; she ordered a latte.
He took out his phone and opened a smart contract page. “I wrote something. Take a look.”
It was a contract deployed on-chain, with one line written into it: “Whether the market rises or falls, this contract will remain in effect forever.”
Lin Wan’s eyes suddenly welled up.
“You know that once a contract is deployed, it can’t be changed,” she said.
“I know,” he said. “That’s why it’s the most solemn promise I can give you.”
BEAMX was priced at 0.003332 that day, and PARTI at 0.0378. Those numbers later became their secret code. Whenever the market moved, instead of saying “I love you,” they would say, “Our hedge is still in place today.”
In autumn, Bitcoin broke through to a new high. Lin Wan made a lot on her long position, while Chen Yu lost quite a bit on his short. But Chen Yu smiled and said, “It’s okay. I lost to you, but I won you.”
Lin Wan rested her head on his shoulder, watching the numbers flicker across the candlestick chart. It suddenly struck her that this might be the best kind of love in crypto. Not rising and falling together, but being happy for you when you rise, and catching you when you fall.
Like a perfect hedging contract: sharing the risk, sharing the returns, and always in effect.
She closed her eyes and heard Chen Yu whisper in her ear, “The evening breeze fears no cold, because Yu is none of your business.”
She smiled, but tears rolled down her cheeks.
On-chain contracts never expire. Neither would their story.
I. In-Depth Analysis of the Ethereum Market: Multiple Headwinds Weigh on Short-Term Rebound Momentum
As of the early hours of October 27 Beijing time, Ethereum was trading at $2,327, down 1.59% over the past 24 hours. The price fluctuated between $2,298 and $2,345, and overall performance was weaker than Bitcoin’s. Ethereum has recently faced several headwinds, including ETF outflows, transfers by the Ethereum Foundation, and delays to technical upgrades, dampening market confidence to some extent.
II. Technical Indicator Analysis
Regarding moving averages, Ethereum’s current price is slightly above the 7-day moving average of $2,322, but below the 25-day average of $2,327 and the 99-day average of $2,361. The short-term moving averages are aligned bearishly, with the 7-day average below the 25-day average, creating a pattern of resistance. The Bollinger Bands have an upper band at $2,341, a middle band at $2,322, and a lower band at $2,304. The price is trading near the middle band, and the bandwidth has narrowed noticeably.
The MACD shows a fast line at -4.01, a slow line at -5.21, and a positive histogram value of 1.20 that has continued to expand. This indicates that while the market remains in bearish territory overall, downward momentum is gradually weakening. The 6-period RSI is 50.86, the 12-period RSI is 48.63, and the 24-period RSI is 46.64. The short-period reading is slightly above the medium-period reading, showing faint signs of stabilization. On the KDJ indicator, K is 59.75, D is 60.34, and J is 58.55. The three lines are clustered in the middle range, and a directional move has yet to emerge.
The 14-period ATR is 17.89, indicating relatively low volatility and subdued market activity. The Williams %R indicator is -40.15, in neutral territory. The Parabolic SAR is at $2,299, below the current price, providing some short-term support. Overall, technical indicators point to a weak consolidation pattern. A sustained move above $2,330 and a break above $2,350 could ease short-term downward pressure.
III. Market Sentiment and Fundamental Analysis
On the fund-flow front, Ethereum spot ETFs continue to face redemption pressure, with weekly net outflows exceeding $200 million and creating persistent selling pressure on the spot price. Well-known macro trader Arthur Hayes sold more than $49 million in crypto assets ahead of the FOMC meeting, including 6,400 ETH. Although he had previously predicted that Ethereum would reach $10,000 by year-end, the sale has intensified short-term bearish sentiment.
Fundamentally, the Ethereum Foundation recently transferred 2,785 ETH to decentralized exchanges, while a dormant ICO address moved 1,500 ETH to exchanges, adding to spot-market selling pressure. On the technical-upgrade front, the Glamsterdam testnet encountered gas issues with EIP-8037 that undermined DeFi execution assumptions, forcing a pause in the upgrade roadmap and denting developer confidence.
Taken together, eight of the 15 factors are bullish (53.3%), six are bearish (40%), and one is neutral. The composite indicator signals a short-term bearish bias, with a historical win rate of 68.89%. Ethereum’s core tension is that long-term value support remains intact, but multiple short-term headwinds are converging. The market may need to wait for macroeconomic uncertainty to subside before repricing the asset.
IV. Trending Tokens at a Glance
CHIP is currently priced at $0.05502, up 20.98% over the past 24 hours, leading in market buzz. BEAMX is currently priced at $0.003353, up 18.36% over the past 24 hours, with activity picking up in the blockchain gaming sector. PARTI is currently priced at $0.0381, up 14.07% over the past 24 hours, as community consensus continues to strengthen.
I. In-Depth Analysis of the Bitcoin Market: Intensifying Bull-Bear Battle as Caution Spreads on the Eve of the FOMC Meeting
As of the early hours of October 27 Beijing time, Bitcoin was priced at $80,332, down 0.69% over the past 24 hours. The price moved in a narrow range between $79,500 and $80,800, reflecting the typical wait-and-see sentiment ahead of a major macroeconomic event. Market participants are closely watching the Federal Reserve’s October 28 rate decision. Current market pricing indicates a 90.6% probability that rates will remain unchanged, though volatility triggered by changes in the Fed’s wording cannot be ruled out.
II. Technical Indicator Analysis
Looking at the moving averages, Bitcoin is currently trading above the 7-day moving average at $80,245, but is clearly being held back by the 25-day moving average at $80,223 and the 99-day moving average at $80,082. Short-term moving averages have flattened, with the 7-day and 25-day averages nearly converging, suggesting that a decision on the short-term direction is imminent. The Bollinger Bands show an upper band of $80,707, a middle band of $80,155, and a lower band of $79,604. The bands continue to narrow, hinting at an impending directional breakout.
For the MACD, the fast line is at -30.11, the slow line at -61.14, and the histogram is positive at 31.03 and continuing to expand. This indicates that bearish momentum is fading, with signs of a potential bottom and rebound. The 6-period RSI is 50.40 and the 12-period RSI is 49.83, both in neutral territory, with neither overbought nor oversold signals. For the KDJ indicator, the K value is 62.50, the D value is 65.03, and the J value is 57.45. The three lines are converging at elevated levels, leaving the short-term direction unclear.
Notably, the 14-period ATR is 434.41. Volatility has eased compared with the previous period, indicating that the market is building energy. The Williams %R is -41.06, in a neutral-to-weak zone. Overall, technical indicators point to a neutral-to-bearish setup, but bearish momentum is weakening. A decisive break above the $80,800 resistance level could open the way for further gains.
III. Market Sentiment and Fund Flow Analysis
On the fund flow front, U.S. spot Bitcoin ETFs recorded net inflows of $301 million last week, ending two consecutive weeks of net outflows. Strive added 6,182 Bitcoin, bringing its total holdings to 43,000, indicating that long-term institutional demand remains intact. However, ETF net outflows reached $772 million over the first two days of this week, reflecting institutional caution ahead of the FOMC meeting.
On-chain data shows an interesting divergence: retail Bitcoin exchange deposits reached a six-month high, totaling approximately $10.75 billion over 30 days, while deposits from whales declined. This divergence between retail and large-holder behavior typically signals that the market is at a critical point in a sentiment shift.
Across the combined signals, eight of 15 factors are bullish (53.3%), six are bearish (40%), and one is neutral. The composite indicator gives a short-term bearish signal, with a historical win rate of 76.09%, suggesting a relatively high degree of confidence in the bearish signal. The market is currently in a complex environment where macroeconomic uncertainty intersects with structural positives. In the short term, it is likely to remain range-bound between $78,000 and $86,000.
IV. Trending Tokens at a Glance
CHIP is currently priced at $0.05502, up 20.98% over 24 hours, showing strong performance. BEAMX is currently priced at $0.003353, up 18.36% over 24 hours, with active trading. PARTI is currently priced at $0.0381, up 14.07% over 24 hours, and continues to attract investor attention.
Tokenized U.S. stocks surpass $1 billion in market cap as markets hold their breath ahead of the Fed decision
1. Tokenized U.S. stocks reach a milestone
In the final week of October 2026, the crypto market reached a landmark milestone. According to on-chain data monitors, the total market capitalization of tokenized stocks issued by xStocks officially surpassed $1 billion, surging more than eightfold from a year earlier. This figure not only reflects the explosive growth of tokenized assets, but also signals that the convergence of traditional finance and blockchain is moving from concept to reality.
By on-chain distribution, the Solana ecosystem led with more than $500 million in tokenized U.S. stock market value, followed by X Layer and Ethereum. More notably, the number of holders of tokenized stocks on Solana has exceeded 1.5 million, a fivefold increase since August. Meanwhile, Sterling, a fund managed by British insurance giant Aviva with $29 billion in assets, has issued tokenized shares on the XRP Ledger. The accelerating entry of traditional financial institutions is lending this sector unprecedented credibility and liquidity.
2. The Fed decision and tech giants’ earnings put markets to the test
As tokenized U.S. stocks surge ahead, traditional financial markets face this week’s most important double test. On October 28, the Federal Reserve will announce its latest interest rate decision. Market pricing puts the probability of rates remaining unchanged above 90%, but investors are focused on how Chair Powell’s remarks will signal the future path of monetary policy.
Meanwhile, Microsoft, Alphabet, and Amazon are all due to report earnings this week. As core pillars of the U.S. stock market’s overall value, their results will not only directly affect the Nasdaq’s performance, but will also feed through to crypto markets via tokenized assets. Bitcoin is currently trading in a narrow range of $79,200 to $80,300. Bitcoin ETFs saw $772 million in net outflows over the two trading days ahead of the decision, reflecting institutional investors’ cautious stance ahead of a major macroeconomic event.
3. Market divisions deepen as whales and retail investors go separate ways
Interestingly, market participants are showing a clear divergence. On one hand, retail investors are flocking to exchanges: retail Bitcoin deposits totaled about $10.75 billion over the past 30 days, a six-month high. On the other hand, exchange deposits from whale wallets have declined, suggesting large holders would rather hold and wait than trade actively.
Well-known macro trader Arthur Hayes sold more than $49 million in crypto assets ahead of the Fed decision, including 6,400 ETH and several DeFi tokens such as ENA and UNI. The sudden shift by a prominent investor who previously predicted that Ethereum would reach $10,000 by year-end has undoubtedly cast a shadow over market sentiment. However, spot Bitcoin ETFs still recorded $301 million in net inflows last week, ending a two-week outflow streak. This included a single purchase of 6,182 BTC by Strive, bringing its total holdings to 43,000 BTC.
4. BNB ecosystem advances on multiple fronts as new chain plans draw attention
As tokenized U.S. stocks flourish, major news also emerged from the BNB ecosystem this week. BNB Chain announced plans to develop a new high-performance, EVM-compatible Layer 1 chain, targeting 200-millisecond block times and 20-millisecond pre-confirmations. It is designed for use cases such as high-frequency trading and AI agents. CZ made clear that he would stick to a multi-chain, single-token strategy, with BNB remaining the sole gas, staking, and governance token across the ecosystem. The testnet is expected to launch by the end of 2026, with the mainnet targeted for early 2027.
In addition, BNB Standard Corporation rang the Nasdaq opening bell, marking another historic moment in the convergence of crypto and traditional finance. YZi Labs’ backing of BNB Standard aims to give public-market investors a share in BNB’s long-term growth. Data from Square shows that BNB was mentioned more than 14,000 times in the past 24 hours, with bullish sentiment exceeding 95%—significantly outpacing confidence in other major assets.
5. Market outlook
The market is at the intersection of macroeconomic uncertainty and accelerating on-chain innovation. In the short term, the Fed decision and earnings from major technology companies will be key factors shaping market direction. Over the medium term, tokenized U.S. stocks surpassing $1 billion in market capitalization and traditional financial institutions’ accelerating adoption of blockchain are building momentum for the next growth cycle. Investors should keep an eye on macro risks while also watching innovative sectors that are reshaping financial infrastructure.
At 3:30 a.m., Lin Hao’s phone screen was glowing, reflecting in his bloodshot eyes.
He stared at a message on Binance Square, his fingers trembling slightly. It said that some whale on-chain had suddenly swept up CHIP, sending it up threefold in ten minutes. He checked the price: $0.018.
Only $0.018. Should I buy a little and see what happens?
He hesitated for a full forty seconds. In that time, the price jumped from $0.018 to $0.025. He gritted his teeth and went all in with the last 800 U in his account. The moment the order filled, his heart pounded like it was about to leap out of his chest.
After he bought in, the price took off like a rocket. $0.03, $0.04, $0.05. Every time it went up by a cent, Lin Hao felt his blood boil. He opened the calculator: 800 U had become 2,400, then 4,000. He hardly dared to breathe, afraid he’d blow the dream away with a single exhale.
At 4:15 a.m., CHIP surged to $0.055. His account balance showed 4,400 U. Four thousand four hundred. His salary last month had only been 12,000 yuan. After paying rent, he had 6,000 left. That 4,400 U was all the money he’d saved over three months by scrimping and saving.
He stared at the screen, two voices fighting in his head. One said, Get out now. Take the profit and run. The other said, Wait a little longer. What if it hits ten cents?
He chose to wait.
$0.057, $0.06, $0.065. Lin Hao felt as if his soul had left his body and was floating up by the ceiling, watching the crazed man below. When the price reached $0.07, his account balance topped 5,600 U. Five thousand six hundred. He felt like he was dreaming—a dream so vivid it had to be real.
Then it crashed.
Without warning, a massive red candle came crashing down from the sky. $0.07, $0.05, $0.03, $0.015. Thirty seconds. In just thirty seconds, his 5,600 U had dwindled to 1,200.
Lin Hao’s hands began to shake—not with excitement, but with fear. He frantically tapped Sell, but there were no buy orders left in the order book. The liquidity had been drained. The price kept falling: $0.01, $0.008.
He closed his eyes.
When he opened them again, the price had settled at $0.006. His account balance showed 480 U. He’d lost 320 U, but he was still in the game.
Lin Hao put down his phone and walked to the window. The eastern sky was already paling, and the city’s outline was slowly emerging in the morning light. He lit a cigarette and took a long drag.
480 U. He could fight another day.
He remembered that night three months ago, when he’d stood by the same window, watching his account shrink from 12,000 U to 800 U. Back then, he’d thought the sky was falling. Looking back now, it had just been another lesson from crypto.
Lin Hao stubbed out his cigarette and picked up his phone again. He opened Binance and typed BEAMX into the search bar. $0.0033, up 17% today.
I personally led myself to the altar of liquidation
At three in the morning, the blue glow of my phone screen reflected on my face. I stared at the candlestick chart, my eyes bloodshot, but my mind was unusually clear.
CHIP was up 24% today.
And I had shorted it.
The story began yesterday afternoon. CHIP was hovering around 0.04258 and had been trading sideways for three straight days. I sent a message in the group chat saying the coin had run out of steam and I was going to open a short position to ride a pullback. Old Zhang replied, “Don’t get too confident. Altcoins have been acting pretty wild lately.” I didn’t listen.
I opened the futures trading screen, selected 20x leverage, and put all the 3,000 USDT left in my account into the trade. The moment I opened the short, I felt a strange rush, as if I could already see my profits doubling when the price dropped.
At eight that evening, CHIP climbed from 0.043 to 0.047. I reassured myself that it was just a normal rebound, and that the bears would win in the end.
At ten, the price broke through 0.05. My palms started sweating. Old Zhang asked in the group chat, “Brother, do you want to cut your losses?” I replied with two words: “Not yet.”
At 11:30, the price surged to 0.054. My margin ratio had already fallen to 15%. The system prompted me to add margin. I hesitated for three seconds, then dismissed it. I told myself this kind of rally couldn’t last and a pullback was just around the corner.
At one in the morning, CHIP broke through 0.056. My margin ratio dropped to 5%.
Then I got the text message I least wanted to see. It wasn’t from my bank. It was from Binance. It read: “Your futures position has been forcibly liquidated.”
3,000 USDT. Gone.
I slumped in my chair and stared blankly at the ceiling. The city lights outside were shining brightly, but the whole world felt gray. I opened my trading history and went through it from start to finish. From opening my short at 0.04258 to being liquidated at 0.056, the whole thing took less than ten hours.
Old Zhang sent me a nudge in the group chat, then said, “I told you not to get too confident.”
I didn’t reply.
The next morning, CHIP had fallen back to around 0.055. If I hadn’t shorted it, if I’d listened to Old Zhang, if I’d used only a tenth of my position, things would have turned out differently. But there are no what-ifs.
The most expensive lessons in crypto aren’t the money you’ve already paid, but the losses you could have avoided.
Leverage is a double-edged sword, but most people only see the side that glitters.
Have you had a similar experience? Share it in the comments.
At three in the morning, Chen Hao stared at his phone screen, his eyes already red as a rabbit’s.
He was an ordinary programmer earning 15,000 yuan a month. Every day, he squeezed onto the subway to get to work, and after work, his only pastime was scrolling through Binance Square to see people showing off their gains. Those screenshots of hundredfold and thousandfold returns made his blood itch, but he never dared to put his own money on the line. After all, he still had rent to pay.
That night, he saw a post on Square. Someone was shouting that CHIP was about to take off, calling it the leader of some hot new sector. He tapped in and saw that the price was only a few thousandths of a dollar, with a pitifully small market cap. The comments were split down the middle: half said it was the next hundred-bagger, while the other half called it a shitcoin designed to fleece retail investors.
Chen Hao hesitated for a full two hours. In the end, he gritted his teeth, transferred 2,000 yuan from his bank account, and went all in on CHIP. He regretted it as soon as he bought. Two thousand yuan was half a month’s food money.
Over the next three days, CHIP fell from $0.04 to $0.025. Chen Hao secretly checked the charts at work every day, his heart racing and his palms sweating. When a coworker asked what was wrong, he said he was fine, though inside he was bleeding. He didn’t dare tell anyone he’d bought a shitcoin, afraid they’d laugh at him.
On the fourth night, just as he was about to cut his losses and get out, he suddenly saw CHIP start to rally. $0.03, $0.035, $0.04. He couldn’t believe his eyes and refreshed the page again and again. The price kept climbing: $0.05, $0.06, $0.08.
His hands were shaking. His 2,000 yuan had become 8,000, then 16,000. He thought of all the people on Square showing off their gains and suddenly understood how they felt. But he didn’t sell. He thought it could go even higher.
On the fifth day, CHIP surged to $0.054. His account balance showed 32,000 yuan. Chen Hao took a deep breath and sold everything.
In that moment, he leaned back in his chair and let out a long breath. His 20,000-yuan profit was more than three months of his salary.
He knew it wasn’t luck—it was nerve. But he also knew he might not be so lucky next time. Stories like this play out in crypto every day: some people get rich overnight, others get liquidated, and he had simply happened to be on the right side of it.
He turned off his phone and could finally get a good night’s sleep.
In-Depth Analysis of the Ethereum Market: Hopes for a Rebound Amid Institutional Selling and Technical Pressure
1. Price Action Analysis
As of October 26, 2026, Ethereum is trading at $2,312, down 1.22% over the past 24 hours. During the Asian session, the price opened at $2,324 and quickly fell to an intraday low of $2,295.88. It then rebounded on buying pressure to above $2,344, but failed to hold those gains and ultimately retreated to around $2,312. On the hourly chart, Ethereum has also traded unevenly over the past five hours, with its overall center of gravity shifting slightly lower.
In terms of key levels, Ethereum is currently trading below several moving averages. The 25-hour exponential moving average (EMA) is around $2,329, while the 99-hour EMA is above $2,362; both pose overhead resistance. The upper Bollinger Band is around $2,344, the middle band around $2,324, and the lower band around $2,303. Price is fluctuating between the middle and upper bands, leaving some room for a short-term rebound, though gains are capped by resistance at the upper band.
2. Technical Indicator Analysis
Among momentum indicators, the 14-period Relative Strength Index (RSI) is around 50, while the 6-period RSI has recovered to 55.24, indicating that short-term rebound momentum has improved. The MACD remains below the zero line, with the DIF at -4.03, the signal line at -5.44, and the histogram at +1.41. Although the MACD remains in bearish territory, the histogram has expanded for three consecutive periods and the DIF line is converging toward the signal line, suggesting a short-term bullish crossover may be developing.
The KDJ indicator shows the K-line at 62.70, the D-line at 61.64, and the J-line at 64.81. The three lines are diverging upward in the mid-range, suggesting short-term rebound momentum is building. The Williams %R (WR) is -29.83, having moved from the mid-range toward overbought territory. The 14-period ATR is around $18.20, indicating relatively low volatility for Ethereum at present.
In terms of moving averages, the 7-hour moving average is around $2,324, the 25-hour moving average around $2,329, and the 99-hour moving average around $2,362. Short-term moving averages are flattening, while longer-term averages are creating overhead resistance. As with Bitcoin, the price action is showing a converging consolidation pattern. The Supertrend indicator remains elevated at $2,363, well above the current price, clearly pointing to a bearish short-term trend. The Parabolic SAR is below $2,298, with price trading above it, providing some short-term support.
3. Market Sentiment Analysis
Market sentiment surrounding Ethereum is currently mixed. On the institutional front, spot ETFs have recorded consecutive outflows, with net outflows exceeding $2 billion over the past week, equivalent to approximately 85,800 ETH. Continued institutional distribution has clearly weighed on the price. Former BitMEX CEO Arthur Hayes sold more than $49 million worth of crypto assets ahead of the Federal Reserve decision, including 6,400 ETH. Although he still maintains a year-end target of $10,000, his short-term profit-taking has heightened market unease.
On-chain data also points to selling pressure. An address associated with the Ethereum Foundation sold 2,785 ETH, while an ICO wallet that had been dormant for nine years transferred 1,500 ETH to an exchange. Distribution by these early holders has increased market supply pressure. There are positive signs as well: BitMine added 10,452 ETH, worth approximately $24 million, expanding its holdings to 4.9% of the total supply. Corporate buying has partly offset the selling pressure.
On the fundamental front, the Glamsterdam testnet was paused due to a gas-related flaw in EIP-8037, delaying roadmap progress and weighing somewhat on market confidence. However, from a longer-term perspective, Ethereum's ecosystem fundamentals remain solid, developer activity is high, and the Layer 2 ecosystem continues to grow. On the macroeconomic front, this week's Federal Reserve decision will also be a key catalyst for Ethereum. If the rate decision is dovish, risk assets, including Ethereum, could see a rebound.
Trending Tokens at a Glance
CHIP: Current price $0.05322, up 19.19% over 24 hours BEAMX: Current price $0.003335, up 16.57% over 24 hours PARTI: Current price $0.0383, up 14.33% over 24 hours
In-Depth Analysis of the Bitcoin Market: Consolidation While Awaiting Fed Guidance
I. Price Action Analysis
As of October 26, 2026, Bitcoin was quoted at $79,882, down slightly by 0.47% over the past 24 hours. During the Asian session, the price briefly dipped to an intraday low of $79,589, then rebounded above $80,400 on buying pressure before retreating to its current level. On the hourly chart, Bitcoin has moved lower, then higher, and back down over the past five trading hours, fluctuating within a range of about $800. This points to a clear tug-of-war between buyers and sellers at key levels.
On a broader timeframe, Bitcoin is currently battling for the $80,000 level. The 99-hour exponential moving average sits near $80,885, forming a significant short-term resistance level. The $79,500 area below has served as support in several recent tests. The Bollinger Bands show an upper band around $80,741, a middle band around $80,169, and a lower band around $79,597. The price is trading near the middle band, indicating that the short-term direction remains unclear.
II. Technical Indicator Analysis
Momentum indicators show the 14-period Relative Strength Index (RSI) near 50, in neutral territory. The 6-period RSI is 55.8, indicating some short-term rebound momentum, though it has yet to enter strong territory. The MACD remains below the zero line, with the DIF at -26.98, the signal line at -67.59, and the histogram at +40.60. Although the MACD is still in bearish territory, the histogram continues to expand, suggesting that bearish momentum is fading and a short-term bullish crossover is possible.
For the stochastic KDJ indicator, the K line is 66.24, the D line is 66.95, and the J line is 64.84. The three lines are clustered in the middle range, with no clear direction as the market awaits a new catalyst to break the deadlock. The Williams %R (WR) is -30.77, in the neutral-to-low range—neither overbought nor oversold. The 14-period ATR is around $437, reflecting moderate volatility.
The moving averages are as follows: the 7-hour average is around $80,278, the 25-hour average is around $80,247, and the 99-hour average is around $80,837. The short-term averages have flattened and begun to converge, while the longer-term average remains overhead, creating a classic converging consolidation pattern. The Supertrend indicator remains elevated at $80,811, with the price trading below it, suggesting a bearish short-term trend.
III. Market Sentiment Analysis
Market sentiment is clearly divided. In terms of fund flows, exchanges saw net inflows of $134.7 million over the past two hours, suggesting that some investors are actively accumulating at lower levels. Among institutions, Strive added 6,182 Bitcoin last week, worth approximately $511 million, while Vanguard also increased its stake in Metaplanet. Institutional buying is providing solid support for market confidence.
Retail activity, however, tells a different story. Retail Bitcoin deposits to exchanges have nearly doubled over the past 30 days, reaching a six-month high of $10.75 billion, while whale inflows have fallen from $5.9 billion in August to $3.8 billion. Analysts believe retail investors see bear-market rallies as opportunities to exit, while whales show no urgency to distribute at current prices.
On the macro front, this week's Federal Reserve policy meeting is the biggest wildcard. The market broadly expects interest rates to remain unchanged, but changes in the wording of the statement and the dot plot could affect the direction of risk assets. QCP Capital expects Bitcoin to trade between $78,000 and $86,000 ahead of the meeting outcome. Earnings reports from Microsoft, Alphabet, and Amazon will also influence overall risk appetite. Notably, Bitcoin and gold are tied as the worst-performing major asset classes of 2026, down 7.3% and 7.5%, respectively. However, Galaxy Research says Bitcoin's bear market ended in June and that it is now in an accumulation phase.
Trending Tokens
CHIP, current price $0.05322, up 19.19% over 24 hours BEAMX, current price $0.003335, up 16.57% over 24 hours PARTI, current price $0.0383, up 14.33% over 24 hours
At three in the morning, Ajie stared at his phone screen, his eyes bloodshot.
His wallet held 20,000 yuan worth of USDT—three months of his salary. By day, he worked as a programmer at an internet company in Shenzhen. By night, he became an on-chain hunter, scouring various DEXs for newly launched shitcoins.
Tonight was different.
Someone in a group chat had posted a contract address, saying that CHIP was about to pump. Ajie tapped in and saw that its market cap was only a few hundred thousand dollars, with a mere few tens of thousands of dollars in its liquidity pool. The candlestick chart was almost a straight line, because there had barely been any trading.
"Another shitcoin," he muttered to himself. But his fingers had already opened his wallet, ready to swap.
He remembered buying BEAMX last month. A friend had recommended it then, too. The price was 0.002. He hesitated for three days and never bought in. A week later, it had risen to 0.0035—up more than 75 percent. He'd slapped his thigh and told himself he’d act decisively next time.
This time, he didn't want to miss out again.
Ajie swapped 5,000 USDT for CHIP. At the moment he bought in, the price was still 0.04258. He stared at the screen, his heart racing.
Ten minutes passed. The price didn't budge.
Twenty minutes. Still nothing.
He began to wonder if he'd just paid for another lesson. Someone in the group said, "The whales are shaking out weak hands." Someone else said, "Run, it's a scam." Ajie's palms were sweating, and his thumb hovered over the sell button.
Just as he was about to cut his losses, the price suddenly jumped. 0.045. He rubbed his eyes, thinking he must have read it wrong.
Then it hit 0.048.
Messages started flooding the group chat. "It's pumping!" "Don't sell!" "Target: 0.10!"
Ajie's heart felt like it was about to burst out of his chest. The price took off like a rocket: 0.05, 0.052. He saw that it was up more than 17 percent, and his hands shook so much he could barely hold his phone.
He wanted to sell. He really did. His 5,000 yuan had become more than 5,800. He'd made over 200 yuan—enough for a nice meal.
But greed coiled around his reason like a snake.
"I'll wait a little longer. Maybe it'll reach 0.10," he told himself.
The price surged to 0.0529, then started falling. 0.052, 0.051. The mood in the group changed. "Run!" "The whales are dumping!" "I sold, I sold!"
Ajie hit sell at 0.0520.
When the funds landed in his wallet, he let out a long breath. He'd made about 400 yuan. Not much, but the ride from fear to greed to escape had been more thrilling than any game.
He turned off his phone, lay down on the bed, and smiled at the ceiling.
He had work tomorrow. But he knew he wouldn't get any sleep tonight.
That's crypto: a place that turns programmers into gamblers.
At three in the morning, Ajie stared at his phone screen, his eyes bloodshot.
BEAMX was stuck at 0.003346, less than three percent away from his liquidation price. He had opened a 50x leveraged short, betting that the gaming token—which had fallen from a high of 0.003544—would keep dropping.
"It can't possibly go any higher," he muttered, refreshing the candlestick chart without thinking. "It already took a dip today."
But the market has never listened to anyone's predictions.
Just ten minutes earlier, an announcement about BEAMX partnering with a top gaming studio had suddenly burst onto the scene. Buy orders poured in like a tidal wave. The price surged from a low of 0.002826, wiping out every stop-loss he'd set.
He remembered what Old Chen had once said: 50x leverage on a small-cap coin is like putting your money on the tracks and waiting for a train.
Ajie still had 30,000 U in margin in his account. It was the money he'd set aside for his daughter's next semester's tuition. He'd originally only meant to make a quick trade and walk away with a five percent gain, but greed made him add leverage, then add even more.
His phone vibrated. A notification from the exchange appeared: Warning: The margin ratio of your BEAMXUSDT perpetual contract position has fallen below the maintenance margin requirement.
His hands began to shake.
Add more margin? Or close the position manually? Two voices battled in his head. Adding more might help him hold on—but what if the price kept rising? Closing manually meant admitting defeat. His 30,000 U would vanish just like that.
He chose to add more margin.
He put in the last 8,000 U in his account. At that moment, he felt like a gambler pushing his final chip onto the table.
The price hit 0.003400.
Another message popped up: Your position has been liquidated.
The numbers on the screen turned completely red. 38,000 U—gone. Completely gone, as if it had never existed.
Ajie put down his phone. Dawn was already breaking outside. He remembered when he'd first gotten into crypto: he had only 2,000 U in his account, and he traded cautiously every time. Back then, he actually made quite a bit. Later, as his balance grew, so did his confidence—and his leverage. In the end, he lost everything.
He opened his notes app and wrote one line: Never gamble with money you can't afford to lose.
Then he turned off his phone and went to make breakfast for his daughter.
Fed rate decision looms as tokenized U.S. stocks surpass $1 billion, bringing market bulls and bears to a critical juncture
I. This week’s macro focus: Fed meeting puts global markets on edge
In the final week of October, global financial markets are holding their breath. The Federal Reserve will hold its FOMC meeting on October 28. Markets broadly expect rates to remain unchanged, but the post-meeting statement and Powell’s choice of words will be key variables in pricing risk assets.
According to data from Binance Square, BTC-related discussions reached 14,600 in the past 24 hours, while ETH discussions totaled 9,600. SOL led the entire platform with more than 18,000 mentions. This intense discussion reflects traders’ heightened sensitivity to the direction of macro policy. Analysts at QCP Capital said BTC has short-term support at $78,000 and resistance at $86,000. U.S. third-quarter GDP data, the PCE price index, and earnings reports from tech giants such as Microsoft, Alphabet, and Amazon will all reshape market risk appetite this week.
II. Whales and retail investors diverge, complicating market signals
Notably, market participants’ behavior has diverged markedly. Over the past 30 days, the amount of BTC retail investors deposited on Binance nearly doubled to $10.75 billion, reaching a six-month high. This suggests that retail investors generally see the $80,000 level as a buying opportunity.
Whale activity, however, tells a very different story. Inflows from large holders fell from $5.9 billion to $3.8 billion. Analysts believe whales are in no rush to sell at current prices and may instead be quietly accumulating. Ahead of the Fed meeting, former BitMEX CEO Arthur Hayes sold more than $49 million worth of crypto assets, including ETH, ENA, UNI, and PENDLE, converting them all into USDC. However, Hayes previously predicted that ETH would climb to $10,000 by year-end, so this move appears more like short-term risk hedging than a reversal of his outlook.
III. Tokenized U.S. stocks surpass the $1 billion milestone as the RWA sector accelerates
A landmark event in the convergence of traditional finance and blockchain has drawn industry attention: the market capitalization of tokenized stocks issued by xStocks has surpassed $1 billion, surging 802.5% year over year. These tokenized assets are spread across nine blockchains, with Solana leading at $523 million.
Meanwhile, Aviva, an insurance group with $29 billion in assets under management, launched tokenized fund shares on the XRP Ledger. The number of addresses holding tokenized stocks on Solana also hit a record 1.5 million, five times higher than in August. Binance Web3 currently supports multiple tokenized U.S. stocks, including mRNA and LIN, across several chains such as BSC and Ethereum. Among U.S. stock token contracts, BULLA gained as much as 67.4% in a single day, DOOD rose 38.9%, and AIN climbed 23.9%, signaling strong speculative enthusiasm for RWA assets.
IV. Tech earnings season begins, with AI narratives still at the center
This week, tech giants including Microsoft, Alphabet, and Amazon will report earnings. With the AI investment boom continuing to intensify, markets will closely monitor these companies’ capital expenditure plans, AI revenue growth, and changes in cloud-service margins. Square data shows that the #EarningsSeason hashtag has amassed more than 5.12 million views, with discussion continuing to gain momentum.
From a broader perspective, South Korea may once again delay the introduction of its crypto capital gains tax, this time until 2029. This would mark the country’s fourth postponement of its crypto tax policy. The move aligns with the timeline for the United States to refrain, for now, from joining the OECD crypto reporting framework, reflecting the cautious stance that major economies around the world continue to take toward crypto regulation.
V. Outlook: Seeking direction amid competing bullish and bearish forces
Overall, the market is at the intersection of several forces. The outcome of the Fed meeting will set the tone for short-term risk appetite, earnings from tech giants will test whether actual results support the AI narrative, and the explosive growth of tokenized U.S. stocks signals an accelerating convergence of traditional and decentralized finance. For investors, monitoring macroeconomic data, keeping pace with sector rotation, and managing position risk will be key strategies this week.
At 3:30 a.m., Lin Yuan stared at his phone screen, his eyes bloodshot.
Three days earlier, he’d come across a post on Binance Square. Someone said the team behind BEAMX was building infrastructure for blockchain games, its market cap was only a few million dollars, and it had huge potential. BEAMX was priced at 0.002826 at the time. On impulse, unable to sleep, he bought 20,000 U worth.
He regretted it as soon as he’d bought.
The next day, BEAMX dropped to 0.0025. Looking at his unrealized loss of over 1,000 U, he thought, “Forget it. I’ll call it tuition.” He worked as a backend developer at an internet company, earning 30,000 yuan a month. That 20,000 U was half a year’s savings. His girlfriend didn’t know he traded crypto, and neither did his parents. He’d hidden the Binance app in a folder on the second screen of his phone, named “Tools.”
On the morning of the third day, his alarm woke him, and out of habit, he opened the app.
0.003200.
Thinking he’d read it wrong, he rubbed his eyes. The number hadn’t changed. He refreshed. 0.003350. His heart started racing. He opened the candlestick chart: a nearly vertical green candle had shot up from the bottom, and trading volume was three times the previous day’s.
He hurried to the Square to check the news. The blockchain gaming sector was surging across the board, and BEAMX, as a leading project, was being recommended by big-name influencers one after another. The comments were buzzing. Some said it would hit 0.01; others said the team was about to be acquired. Lin Yuan’s hands were shaking—not from fear, but because he’d never seen his money grow this fast.
0.003414.
He quickly did the math: his 20,000 U had become 24,000 U. He’d made 4,000 in a day and a half—the equivalent of half a month’s salary.
Should he sell?
The question went round and round in his head a hundred times. Sell, and lock in the gains. Hold, and maybe it could double. He remembered a coworker who’d bought some meme coin last year and watched it rise from 0.001 to 0.5—a 500-fold gain. He regretted not buying more. He also remembered another coworker who hadn’t sold at the peak, and watched it go to zero the next day.
Greed and fear battled it out in his head.
In the end, he settled on a compromise: sell half. He’d lock in 12,000 U and keep the rest in for a gamble. His finger felt cold as he tapped the sell button.
After the order went through, he let out a long breath and went to the bathroom to splash water on his face. In the mirror, he looked like a gambler, but he knew he was different from those gamblers. He had a stop-loss, a strategy, discipline.
Though that “strategy” was really just a decision he’d made on a whim.
At two in the afternoon, BEAMX surged to 0.003544, then dipped a little. Looking at the half of his position he still held, he suddenly felt it didn’t matter as much. The 4,000 he’d made was already enough to treat his girlfriend to a nice dinner. Whatever was left could be a little extra gift from fate.
He closed the app and went back to his desk to keep coding. Lines of characters danced across the screen. He pretended to debug, but all he could think about was that green candlestick.
He knew the story could end in one of two ways. Either BEAMX would keep climbing, and he’d be glad he hadn’t sold everything. Or he’d wake up tomorrow to find it had gone to zero, and be glad he’d sold at least half.
But either way, he’d be able to sleep tonight.
In crypto, being able to sleep at night already means you’ve beaten most people.
In-Depth Analysis of the Bitcoin Market: The Battle Between Bulls and Bears at the $80,000 Mark
I. Price Trend Analysis
As of the afternoon of October 26 Beijing time, Bitcoin was quoted at $79,970, down approximately 1.18% over the past 24 hours. Over the past few hours, the price has made a notable move lower followed by a rebound. On the hourly chart, Bitcoin fell from $80,370 to an intraday low of $79,451, then rebounded on buying pressure to around $80,008. It has since pulled back below $80,000 and is consolidating.
From a broader perspective, Bitcoin has recently remained within a range of $78,000 to $86,000. Several analytical firms have identified $78,000 as a key short-term support level and $86,000 as resistance. This week, the market faces the Federal Reserve’s October FOMC rate decision, alongside U.S. third-quarter GDP data, the PCE price index, and earnings reports from tech giants such as Microsoft, Google, and Amazon. These events could prompt a repricing of risk appetite.
Notably, U.S. spot Bitcoin ETFs recorded net inflows of $301 million last week, ending two consecutive weeks of outflows. The Strive fund added 6,182 Bitcoin in a single purchase, bringing its total holdings to 43,000. Meanwhile, Franklin Templeton has filed an application with the SEC for a Bitcoin ETF with dividend reinvestment, indicating that long-term institutional demand for Bitcoin allocation remains.
II. Technical Indicator Analysis
Hourly technical indicators currently show an overall bearish bias for Bitcoin. Of 15 factors, nine indicate a sell signal, five indicate a buy signal, and one remains neutral, putting the share of bearish factors at 60%.
Regarding moving averages, the 7-day average is at $80,370, the 25-day average at $80,294, and the 99-day average at $80,870. The current price is below all major moving averages, and the short-term averages are aligned bearishly. However, the 7-day moving average has begun to turn upward and is nearing a bullish crossover with the 25-day average, suggesting that short-term momentum may be shifting.
The RSI is showing a clear recovery. The 6-period RSI has rebounded sharply from a previous low of 29.69 to 65.28, the 12-period RSI has risen to 58.97, and the 24-period RSI has climbed to 53.64. The RSI’s rapid recovery from oversold territory into a neutral-to-strong zone indicates that short-term selling pressure has largely eased.
For the MACD, the fast line is at -14.77, the signal line at -80.02, and the histogram has turned positive at 65.25. The MACD histogram’s positive values have continued to expand, indicating that downward momentum is weakening and bullish forces are gradually building.
The Bollinger Bands show an upper band of $80,831, a middle band of $80,194, and a lower band of $79,557. The price is currently trading near the middle band, while the bands are narrowing, signaling that a directional breakout may follow.
III. Market Sentiment Analysis
Market sentiment is currently sharply divided. On one hand, retail investors have shown a strong inclination to buy. Over the past 30 days, the amount of Bitcoin deposited by retail investors into Binance has nearly doubled to $10.75 billion, reaching a six-month high. This suggests that retail investors see prices around $80,000 as an attractive buying opportunity.
On the other hand, large holders, or whales, have been relatively cautious. Over the same period, whale inflows fell from $5.9 billion to $3.8 billion. Analysts believe whales are in no hurry to sell at current prices, which may instead suggest quiet accumulation. This pattern of active retail buying while whales hold steady often signals that the market is preparing for a significant directional move.
This week is packed with macroeconomic events, with the Federal Reserve’s rate decision as the main focus. The market broadly expects rates to remain unchanged, but Powell’s wording and forward guidance could have a profound impact on risk assets. Geopolitical tensions in the Middle East are also adding uncertainty to the market. Overall, Bitcoin faces a near-term directional decision, and investors are advised to watch for a breakout above the $78,000 support or the $86,000 resistance.
Trending Tokens at a Glance
ERA: $0.0887, up 18.58% in 24 hours BEAMX: $0.003402, up 16.55% in 24 hours CHIP: $0.05198, up 15.90% in 24 hours
Ethereum Market Depth Analysis: The Battle for the $2,300 Level
I. Price Action Analysis
As of the afternoon of October 26, Beijing time, Ethereum was trading at $2,316, down approximately 1.7% over the past 24 hours. The price saw a clear intraday dip and recovery. On the hourly chart, Ethereum fell from $2,334 to an intraday low of $2,295, then rebounded to $2,342 on buying pressure. It is currently consolidating around that level.
Ethereum has recently underperformed Bitcoin. U.S. Ethereum ETFs recorded net outflows of $220 million last week, in stark contrast to the net inflows into Bitcoin ETFs. This suggests that institutional investors currently favor Bitcoin over Ethereum, and the divergence in capital flows has weighed on Ethereum's short-term performance.
On the fundamental side, the Ethereum network faces multiple challenges. The Ethereum Foundation recently sold 2,785 ETH, worth approximately $6.42 million. Meanwhile, an early ICO wallet that had been dormant for years deposited 2,500 ETH into an exchange, adding to the market's circulating supply pressure. There was also some positive news: BitMine recently added 10,452 ETH at a cost of more than $24 million, while the network-wide staking rate has reached approximately 36%, somewhat easing the impact of selling pressure.
II. Technical Indicator Analysis
Hourly technical indicators for Ethereum are also tilted toward a bearish outlook. Of 15 factors, nine signal selling, five signal buying, and one is neutral—the exact same distribution as Bitcoin.
As for moving averages, the 7-day average is at $2,328, the 25-day average at $2,331, and the 99-day average at $2,364. The current price is below all major moving averages, with the short-, medium-, and long-term averages arranged in a bearish formation. The price is more than $130 away from the 99-day average, indicating a weak medium-term trend.
The RSI has rebounded from oversold territory. The 6-period RSI has recovered from a low of 30.02 to 62.34, the 12-period RSI has risen to 55.69, and the 24-period RSI has climbed to 50.76. The RSI is back above the neutral zone, indicating that the short-term oversold condition has eased, although it has yet to enter strong territory.
For the MACD, the fast line is at -3.76, the signal line at -5.79, and the histogram has turned positive at 2.03. The MACD histogram has turned positive and continues to widen, indicating that short-term downward momentum is fading. However, it remains below the zero line overall, so a reversal signal still needs further confirmation.
The Bollinger Bands show an upper band at $2,350, a middle band at $2,325, and a lower band at $2,301. The price is currently trading above the middle band. The bands continue to narrow, indicating lower volatility and suggesting that a breakout may be approaching.
III. Market Sentiment Analysis
Market sentiment toward Ethereum is currently cautious. On the capital-flow front, ongoing ETF net outflows are the biggest bearish factor. Amid heightened macroeconomic uncertainty, institutional investors are more inclined to concentrate their funds in Bitcoin, a safe-haven asset within the crypto market, leaving Ethereum under pressure from capital rotation.
Technically, the price had previously fallen below the 7-, 25-, and 99-period EMAs, while the RSI briefly dropped below 30, confirming a weak short-term trend. However, with the RSI recovering and the MACD histogram turning positive, technical conditions are gradually improving. The key question is whether the price can establish a firm foothold above the Bollinger Band upper limit of $2,350. A breakout could open the door to further gains.
Fundamentally, deployment of the Glamsterdam upgrade testnet was paused due to smart contract compatibility issues, undermining confidence in the developer community. As Ethereum's next major network upgrade, delays could affect market expectations for the pace of Ethereum's technological development. Over the longer term, however, the staking rate's continued rise to 36% indicates that holders remain optimistic about Ethereum's long-term value.
Former BitMEX CEO Arthur Hayes sold more than $49 million worth of crypto assets ahead of the Federal Reserve decision, including Ethereum and several other tokens. Hayes had previously predicted that Ethereum would reach $10,000 by the end of the year, so this sale is more likely a short-term risk-management move than a rejection of Ethereum's long-term prospects.
Overall, Ethereum faces three near-term pressures: ETF outflows, Foundation selling, and upgrade delays. However, support around $2,300 appears relatively solid, while the rising staking rate and institutional buying also provide a floor for the price. Investors should watch how the market moves following this week's Federal Reserve decision.
Hot Tokens at a Glance
ERA is trading at $0.0887, up 18.58% over 24 hours BEAMX is trading at $0.003402, up 16.55% over 24 hours CHIP is trading at $0.05198, up 15.90% over 24 hours
At 3:17 a.m., Lin Yuan stared at his phone screen, his finger hovering over the buy button, trembling slightly.
He’d only been unable to sleep and was casually scrolling through Binance Square when a post caught his eye: ERA, a new token in the on-chain gaming sector, launched less than forty-eight hours ago, and the community was already buzzing. He opened the candlestick chart. The price was just 0.03 USDT, with a pitifully small market cap, but its daily trading volume was skyrocketing.
“A shitcoin like this either goes to zero or does a hundred X,” he muttered to himself, remembering the time he missed out on PEPE last year. Back then, PEPE was only 0.000001. He thought its market cap was too small and didn’t dare touch it. Then it surged tens of thousands of times, and he watched other people post screenshots of their profits. He couldn’t sleep all night.
This time, he didn’t want to miss out again.
Lin Yuan gritted his teeth and went all in on ERA with all 3,000 USDT in his wallet. The moment the purchase went through, his heart pounded as if it were about to leap out of his chest. He told himself that the worst-case scenario was losing it all. It was only the spare change left over from getting liquidated on futures last month, anyway.
On the first day, ERA rose from 0.03 to 0.045. He was up 50%. His palms were sweaty as he kept refreshing the page, afraid the money would be gone when he woke up.
On the second day, rumors began flying around the community that ERA would be listed on Binance Spot. The price shot straight from 0.045 to 0.073. Lin Yuan’s 3,000 had turned into more than 6,000. He started losing sleep—not from fear, but from excitement.
In the early hours of the third day, the Binance announcement finally came. ERA opened by surging straight to 0.1001, and his holdings had more than tripled. Over 9,000 USDT had appeared out of nowhere. He stared at the figure, suddenly unable to believe it was real.
Just as he was wondering whether to sell, the price suddenly plunged from 0.1. 0.09, 0.08—his profit was shrinking right before his eyes. Fear poured over him like cold water.
“Get out!” he shouted, selling everything at 0.089.
He ended up with 8,400 USDT. After deducting his original 3,000, his net profit was 5,400.
Lin Yuan turned off his phone, lay back on the bed, and stared blankly at the ceiling. He knew this wasn’t luck. It was instinct earned from three years of paying tuition in shitcoins. He’d bought dozens of coins that went to zero, and the money he’d lost could have bought him a car. But this time, he’d made the right bet.
Dawn was breaking outside. He rolled over, opened his phone, and checked ERA’s chart. The price had already climbed back to 0.0888.
He smiled, tucked his phone under his pillow, and finally fell into a deep sleep.
Zhang was a programmer, thirty-five years old, who had spent ten years writing code in Shenzhen and saved up 400,000 yuan.
In the fall of 2025, the crypto world went crazy again. He watched people in the group chat posting their gains—doubling their money one day, making ten times as much the next—and he couldn't resist the temptation. He opened a Binance account and bought a little BTC. When it went up five percent, he was so excited he couldn't sleep.
"That's nothing," Old Wang in the group chat said. "You should try small-cap coins. You can make a hundred times your money overnight."
Zhang didn't believe him. Not until he saw ERA.
It was a token he'd never heard of, worth just a few cents, with a pitifully small market cap. Someone in the group said it was the native token of some AI project and was about to take off. Zhang hesitated for three days, watching ERA climb from $0.04 to $0.07, until he finally couldn't hold back.
He put the remaining 30,000 yuan in his account into ERA, buying at $0.0736.
That night, he couldn't sleep. At three in the morning, he checked his phone. ERA had dropped to $0.05. His heart raced, his palms sweated, and his mind filled with thoughts of "It's over, it's over." He wanted to cut his losses. His finger hovered over the sell button, trembling for ages, but in the end he turned off the screen.
"There's not much left anyway. If I lose it all, so be it," he told himself.
The next morning, ERA was back up to $0.08. On the third day, it hit $0.09. A week later, it reached $0.10.
Zhang began to think he'd made the right call. He stopped watching the charts and focused on writing code. Every time he opened the app, the price was up. His 30,000 yuan became 50,000, then 80,000, then 120,000.
Late one night, a month later, he casually opened Binance. ERA had reached $0.1001. His account showed total assets of 176,000 yuan.
He stared at the number for a long time, then tapped "Sell all."
When the trade went through, he didn't feel the overwhelming joy he'd imagined. Instead, he felt an indescribable emptiness, as if he'd just finished fighting a long, drawn-out battle.
The next day, ERA started to pull back. Three days later, it had fallen to $0.07. The group chat was full of wailing. Some cursed the market makers; others swore they'd never touch small-cap coins again.
Zhang said nothing. He transferred the 170,000 yuan to his bank account and sent 50,000 to his wife, saying, "Buy yourself a handbag."
His wife asked where the money came from. He smiled and said he'd built a good project.
He never touched shitcoins again. But whenever someone asked if he'd made money trading crypto, he remembered that sleepless night—and the version of himself whose fingertip trembled but never pressed the sell button.
That 30,000 yuan didn't teach him how to make money. It taught him how to survive in the face of fear.