Today’s Crypto Briefing | November 5
Good evening, folks!! Bitcoin reclaimed $80K during the day, and tonight we’ve got a few things we haven’t fully covered yet～
1️⃣ Binance is back with Update No. 7! About 98% of the stolen assets have been replenished. The remaining 2% is in small, illiquid coins, which they’re still gradually buying on exchanges and OTC. More importantly, at 00:00 UTC on November 4, they took another Proof of Reserves snapshot, expanding coverage from 10 coins to 44! The full zero-knowledge proof will take another 50–60 hours or so to compute (official update / exchange.news).
My take: I’m all for expanding the snapshot coverage!! But don’t rush to say “it’s all verified” before the proof is out. You probably won’t be able to run the tools and check for yourself until tomorrow or the day after～
2️⃣ Markets: CoinGecko has Bitcoin at around $80.2K now (up roughly 2% in 24h), ETH at around $2,417 (up roughly 4%), BNB at around $716, and ZEC at around $1,319. The Fear & Greed Index is at 50, neutral～
My take: It’s surged all the way up from $76K, so don’t chase too aggressively in the short term. Just wait for a pullback and then scale in!!!
3️⃣ Macro events are coming in one after another: The Bank of England’s rate decision is due at noon in London (8 p.m. tonight in Shanghai). The market broadly expects a hike to 4%—the first in more than three years. U.S. nonfarm payrolls are out Friday, with roughly 62,000–63,000 new jobs expected and unemployment around 4.2%. A large amount of BTC options also expires that same day (crypto.news).
My take: Don’t go all-in on leverage before the data. Watch the results first, then make your move～
4️⃣ ZEC’s NU7 hasn’t arrived yet! The on-chain height is around 3,542,662, about 740 blocks short of the activation height of 3,543,405. At 75 seconds per block, that’s roughly a dozen hours. Zakura estimates it’ll happen around 00:50 UTC on November 6. If you have an old address starting with zc, check your wallet again tonight!!!
My take: The upgrade is the real deal, but when the “good news becomes official,” it’s hard to say who’ll sell and who’ll buy. I’ll watch from the sidelines～
Overall: The market feels better than it did a couple of days ago, but there’s a lot going on from tonight through Friday—the BoE, NU7, nonfarm payrolls, and options expiry. I’m still not chasing highs or using leverage; I’ll wait for a pullback～
Are you more focused on when Binance’s 44-coin proof can be verified, or are you sitting out until after the nonfarm numbers?
$BTC $ETH
#加密快报 #Crypto
Good evening, folks!! Bitcoin reclaimed $80K during the day, and tonight we’ve got a few things we haven’t fully covered yet～
1️⃣ Binance is back with Update No. 7! About 98% of the stolen assets have been replenished. The remaining 2% is in small, illiquid coins, which they’re still gradually buying on exchanges and OTC. More importantly, at 00:00 UTC on November 4, they took another Proof of Reserves snapshot, expanding coverage from 10 coins to 44! The full zero-knowledge proof will take another 50–60 hours or so to compute (official update / exchange.news).
My take: I’m all for expanding the snapshot coverage!! But don’t rush to say “it’s all verified” before the proof is out. You probably won’t be able to run the tools and check for yourself until tomorrow or the day after～
2️⃣ Markets: CoinGecko has Bitcoin at around $80.2K now (up roughly 2% in 24h), ETH at around $2,417 (up roughly 4%), BNB at around $716, and ZEC at around $1,319. The Fear & Greed Index is at 50, neutral～
My take: It’s surged all the way up from $76K, so don’t chase too aggressively in the short term. Just wait for a pullback and then scale in!!!
3️⃣ Macro events are coming in one after another: The Bank of England’s rate decision is due at noon in London (8 p.m. tonight in Shanghai). The market broadly expects a hike to 4%—the first in more than three years. U.S. nonfarm payrolls are out Friday, with roughly 62,000–63,000 new jobs expected and unemployment around 4.2%. A large amount of BTC options also expires that same day (crypto.news).
My take: Don’t go all-in on leverage before the data. Watch the results first, then make your move～
4️⃣ ZEC’s NU7 hasn’t arrived yet! The on-chain height is around 3,542,662, about 740 blocks short of the activation height of 3,543,405. At 75 seconds per block, that’s roughly a dozen hours. Zakura estimates it’ll happen around 00:50 UTC on November 6. If you have an old address starting with zc, check your wallet again tonight!!!
My take: The upgrade is the real deal, but when the “good news becomes official,” it’s hard to say who’ll sell and who’ll buy. I’ll watch from the sidelines～
Overall: The market feels better than it did a couple of days ago, but there’s a lot going on from tonight through Friday—the BoE, NU7, nonfarm payrolls, and options expiry. I’m still not chasing highs or using leverage; I’ll wait for a pullback～
Are you more focused on when Binance’s 44-coin proof can be verified, or are you sitting out until after the nonfarm numbers?
$BTC $ETH
#加密快报 #Crypto