Today's Crypto Brief｜November 6
Evening, crypto folks!! What a roller coaster today—let's run through a few big stories～
1️⃣ Market: That post-election rebound to 80K has been completely wiped out overnight. CoinGecko has BTC at around 76.1K now (down about 5% in 24h), ETH around 2,237 (down about 7%), BNB around 693, and SOL around 90. The Fear & Greed Index is back at 28, in fear territory again～
My take: Yesterday I was still telling everyone not to chase hard above 80K, and it really did turn into a one-day rally haha. Don't rush to buy the dip just yet—let's see how tonight's nonfarm payrolls turn out!!
2️⃣ The full ETF picture is in: U.S. spot BTC ETFs saw net outflows of around $430 million on November 5 (Farside / CoinDesk). This morning, we only had the $325 million figure that excluded IBIT. Add BlackRock's roughly $105 million in outflows, and things look even worse; ETH ETFs also shed around $100 million. Wednesday's little bit of green has been wiped right out～
My take: Institutions are still “buy one day, sell the next.” Don't mistake those small inflows for a reversal and call it a day!!!
3️⃣ Good news from Binance: TechFlow spotted an official announcement saying that the proof of reserves covering 44 coins on November 4 has been computed using zero-knowledge proofs. Users can verify for themselves that their balances are backed at least 1:1. The 9th batch of withdrawals (58 coins and networks) also opened during the day～
My take: It's good that the proof can be verified, but don't just look at the snapshot date—keep an eye on outflows over the following days too!!
4️⃣ Macro: The Bank of England raised rates to 4% last night, up from 3.75%—its first hike in more than three years. The decision passed 8–1, and it warned inflation could climb to around 5%. U.S. nonfarm payrolls are also due tonight at around 21:30 Shanghai time. The market expects roughly 59,000–65,000 new jobs, with unemployment near 4.2%～
My take: Don't pile on leverage ahead of the data. A weaker number could help the bulls, while an overly strong one could push rate-cut expectations down. Either way, the market could swing!!!
Overall: Today was “a one-day post-election boost + institutions keep pulling out + nonfarm payrolls looming.” I'm still not chasing highs or using leverage. I'll wait for a pullback to stabilize, then scale in～
Are you more worried about tonight's payrolls triggering a sell-off, or do you think a dip would be the perfect entry point?
$BTC $ETH
#加密快报 #Crypto
Evening, crypto folks!! What a roller coaster today—let's run through a few big stories～
1️⃣ Market: That post-election rebound to 80K has been completely wiped out overnight. CoinGecko has BTC at around 76.1K now (down about 5% in 24h), ETH around 2,237 (down about 7%), BNB around 693, and SOL around 90. The Fear & Greed Index is back at 28, in fear territory again～
My take: Yesterday I was still telling everyone not to chase hard above 80K, and it really did turn into a one-day rally haha. Don't rush to buy the dip just yet—let's see how tonight's nonfarm payrolls turn out!!
2️⃣ The full ETF picture is in: U.S. spot BTC ETFs saw net outflows of around $430 million on November 5 (Farside / CoinDesk). This morning, we only had the $325 million figure that excluded IBIT. Add BlackRock's roughly $105 million in outflows, and things look even worse; ETH ETFs also shed around $100 million. Wednesday's little bit of green has been wiped right out～
My take: Institutions are still “buy one day, sell the next.” Don't mistake those small inflows for a reversal and call it a day!!!
3️⃣ Good news from Binance: TechFlow spotted an official announcement saying that the proof of reserves covering 44 coins on November 4 has been computed using zero-knowledge proofs. Users can verify for themselves that their balances are backed at least 1:1. The 9th batch of withdrawals (58 coins and networks) also opened during the day～
My take: It's good that the proof can be verified, but don't just look at the snapshot date—keep an eye on outflows over the following days too!!
4️⃣ Macro: The Bank of England raised rates to 4% last night, up from 3.75%—its first hike in more than three years. The decision passed 8–1, and it warned inflation could climb to around 5%. U.S. nonfarm payrolls are also due tonight at around 21:30 Shanghai time. The market expects roughly 59,000–65,000 new jobs, with unemployment near 4.2%～
My take: Don't pile on leverage ahead of the data. A weaker number could help the bulls, while an overly strong one could push rate-cut expectations down. Either way, the market could swing!!!
Overall: Today was “a one-day post-election boost + institutions keep pulling out + nonfarm payrolls looming.” I'm still not chasing highs or using leverage. I'll wait for a pullback to stabilize, then scale in～
Are you more worried about tonight's payrolls triggering a sell-off, or do you think a dip would be the perfect entry point?
$BTC $ETH
#加密快报 #Crypto