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BlackRock’s iShares Bitcoin Trust (IBIT) posted a $405.3 million net outflow on November 2, sparking viral claims that BlackRock is selling Bitcoin (BTC). The asset manager is not trading for itself, however.
Its clients are cashing out. For BTC holders, the distinction cuts both ways, since redemptions still push coins out of the fund and onto the market.
JUST IN: BlackRock sells $405.3 million worth of $BTC. pic.twitter.com/yVkaXGv6gg
— Whale Insider (@WhaleInsider) November 3, 2026
Is BlackRock Selling Bitcoin, or Are Its Clients?
The claim spread on X after Whale Insider framed the outflow as a BlackRock sale.
Spot Bitcoin exchange-traded funds (ETFs) hold BTC directly. When investors redeem shares, the fund releases coins to match its smaller share count.
The $405.3 million therefore reflects client decisions rather than a shift in BlackRock’s own position. The firm earns a 0.25% annual fee on IBIT assets, so outflows cost it revenue.
According to Farside, it was IBIT’s largest single-day outflow since June 26. Total US spot Bitcoin ETF flows reached negative $398.6 million.
Fidelity’s FBTC was the only fund with inflows, adding $6.7 million.
Farside Investors Bitcoin ETF flow table showing IBIT’s $405.3 million outflow on November 2 / Source: Farside Investors Why Did One Day Erase a Week of IBIT Inflows?
The reversal was abrupt. IBIT attracted $410.6 million over four sessions between October 26 and October 29. Monday’s exit cancelled nearly all of it.
Adding Friday’s $233.7 million outflow, IBIT shed $639 million in two sessions. Across all funds, withdrawals topped $1.04 billion.
The selling began a day after the biggest crypto hack on record hit Binance. TRM Labs attributed the $6.36 billion theft to TraderTraitor, a North Korean hacking unit. The haul included 18,270 BTC drained from a Binance hot wallet.
Caution before the November 3 US midterm elections and a sell-off in tech stocks added pressure.
Still, the exits remain small against IBIT’s $65.9 billion in cumulative net inflows since its January 2024 launch.
The bigger question is whether redemptions persist. Spot ETFs have become the main channel connecting institutional sentiment to BTC’s price. Sustained outflows would test the support level flagged in the November Bitcoin outlook.

BitMine Chairman Tom Lee says crypto’s muted response to the $6.3 billion Binance hack signals a bull market. However, stablecoin and sentiment data show money and confidence still leaving the market.
Ethereum (ETH) traded at $2,254.11 at press time, down 1.71% over the past 24 hours, per BeInCrypto Markets. Against Bitcoin (BTC), ETH has held up better this week after losing ground through most of October. It is down 2.87% over the past week compared to BTC’s 3.6% drop.
Ethereum (ETH) Price Performance. Source: BeInCrypto Markets
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Lee Reads a Calm Crypto Market as a Bull Signal
Lee made his case in BitMine’s latest weekly holdings update. He compared the Binance theft with the $1.5 billion Bybit hack in February 2025.
ETH fell 8% on the day Bybit disclosed its theft and 20% within a week, according to Lee. Since the Binance disclosure, ETH has dropped 4%, even though the theft was about four times larger.
Lee gave six reasons for the muted reaction.
Binance can cover all customer losses.
No chain of decentralized finance (DeFi) failures followed, as it did after Bybit.
Swift industry action halved potential losses.
The FBI named North Korea within 2 days, versus up to 180 days in past heists.
The breach hit Binance’s corporate systems rather than a blockchain.
The sixth tied price action to market direction.
“Limited price downside is a sign that a crypto ‘bull market’ is underway, notwithstanding recent price declines,” he said.
Meanwhile, BitMine added 8,573 ETH over the past week, bringing its holdings to 6,060,506 ETH. That equals 4.9% of Ethereum’s 122.2 million supply.
Stablecoins and Sentiment Pull the Other Way
In contrast to Lee’s price-based argument, liquidity and sentiment data point to caution.
Total stablecoin market cap stood at $270.3 billion on October 1, per CW8900, an analyst. It has since fallen to $263.4 billion, a $6.9 billion outflow over the past month.
The analyst rated the trend bearish. Bullish phases typically begin when money flows into the market, CW8900 noted, yet funds have kept exiting.
“For a rebound to occur, stablecoins must flow back into the market. Once stablecoin flows shift back to a net inflow, the market is likely to show a rebound,” the post added.
Investor mood has soured as well. The Crypto Fear and Greed Index fell to 26, in Fear territory, on November 3. It read 37 a day earlier, 48 a week ago, and 65, in Greed, a month ago.
CW8900 expects a rebound once stablecoin flows turn positive again. Until that happens, Lee’s crypto bull market case for ETH rests largely on price resilience.
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Vitalik Buterin fears AI could race through 50 years of math in five and break the cryptography securing Ethereum and Bitcoin. The Ethereum co-founder posted the concern on X the day he opened Devcon 8 in a smiley mask.
Quantum computers have long been the threat the industry plans for. However, his worry also covers lattice-based methods, the math behind several leading post-quantum standards. ETH and BTC holders could therefore face a risk that the planned quantum fixes may not fully remove.
What Could Break Crypto Before Quantum Does
Responding to a user who guessed at his reasoning, Buterin pointed to algorithms that may exist but remain undiscovered. His main example was the elliptic curve discrete logarithm problem (ECDLP), the math that protects private keys on both networks.
The co-founder also named pairings, a technique behind the signatures Ethereum validators use to vote on blocks.
I would describe my worry as: what if the equivalent of quadratic sieve for ECDLP or pairings (and similarly, more-powerful-than-today algorithms for breaking lattices) exist, and we've just not yet managed to find them – but AI speedrunning 50+ years of math in 5 years will.
— vitalik.eth (@VitalikButerin) November 3, 2026
His benchmark is the quadratic sieve, an early 1980s algorithm that sped up factoring large numbers and weakened RSA-style encryption. No such shortcut is known for ECDLP today. Instead, Buterin fears one exists and AI will find it first.
Beyond Devcon, the warning extends his recent focus on AI security. Last month, he unveiled his AI paranoid mode for private chats and backed an AI model that deliberately cut hacking skills.
The timing also put the issue in front of Devcon 8, Ethereum’s flagship developer conference in Mumbai.
A Devcon 8 Keynote Built Around Trust
On stage, Buterin paired the yellow mask with a cloak covered in eyes. It was one of his strangest looks since a dinosaur costume in 2022.
One user on X likened it to the Shoggoth meme, an AI image of a monster hiding behind a friendly mask. The monster stands for raw AI models, while the mask represents the training that makes chatbots look harmless. Buterin has not commented on his Devcon outfit.
Uh @VitalikButerin are you ressed as a Shoggoth? pic.twitter.com/ktt3MboIvj
— Shadow🌐 (@Shadowonchainn) November 3, 2026
@VitalikButerin just opened Devcon and set the tone for the week.A formally verified OS, open silicon, self-sovereign healthtech, free discourse, private communication, trustworthy AI — these are all part of Ethereum's mission. https://t.co/51UfMsxk5o pic.twitter.com/TynzSuzmhX
— Ethereum Foundation (@ethereumfndn) November 3, 2026
In his Devcon 8 keynote, Buterin tied Ethereum’s mission to six goals, according to the Ethereum Foundation (EF). They range from a formally verified operating system and open silicon to self-sovereign health tech and trustworthy AI. Free discourse and private communication also made the list.
We need to be able to trust our operating systems. We need to be able to trust our hardware. We need to be able to trust the things that are most relevant to our health.
Vitalik Buterin, via Devcon
Ethereum already counts more than 1 million developers across its history. Devcon 8 runs through November 6, and Buterin’s warning adds AI to the threats facing the network’s cryptography.

ブルームバーグの報道によると、ディズニーの人員削減は数千人規模に及ぶ可能性がある。一部のマネージャーは、年間コストを20％削減するよう求められたと伝えられている。
一方、CEOのジョシュ・ダマロ氏は、削減分の一部をコンテンツ、パーク、クルーズ、テクノロジーに再投資する計画だ。その再投資の規模によって、ディズニーの株主がどれだけの利益を得られるかが左右される可能性がある。
小規模な人員削減が続いた1年を経て、より大規模な計画へ
この計画は、エンターテインメント企業である同社が1年にわたり、小規模で的を絞った人員削減を行った後に打ち出された。
ディズニーは4月に約1,000人のポストを削減し、7月にはさらに数百人を削減した。9月には、人事部門と技術部門で数百人を解雇した。

Anthropicは第3四半期に5億6,700万ドルの営業損失を計上し、第2四半期の9億7,400万ドルの営業利益から赤字に転じました。Claudeの開発元である同社は、修正後の新規株式公開（IPO）届出書でこの損益の変化を明らかにしました。
売上高は伸び続けたものの、増加するコストを賄うには成長が十分ではありませんでした。届出書に記載されたこの5つの数字から、上場を前に投資家が何を重視するかが見えてきます。
1. 売上高169億6,000万ドル、成長ペースは鈍化
修正後の届出書によると、第3四半期の売上高は169億6,000万ドルに達しました。しかし、前四半期比の成長率は大幅に鈍化し、第2四半期の144.2％から46.7％に低下しました。

XRP logged one of its strongest days for new wallets this year. Yet, US buyers on Coinbase and in spot exchange-traded funds (ETFs) are pulling back.
The split leaves XRP near $1.25, down almost 16% over the past month. The record Binance hack last week added fresh pressure across the market.
New XRP Wallets Keep Arriving After the Binance Hack
The XRP Ledger added 7,934 new wallets on November 1, according to Santiment. That marked the sixth-highest daily total of 2026.
The jump came on a Sunday, normally one of the quieter days for network activity.
Santiment said the hack may have encouraged more users to set up self-custodied wallets. It added that strong growth near $1.25 points to improving usage despite price pressure.
XRP Network Growth. Source: X/Santiment
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Bearish Chatter Now Outnumbers the XRP Bulls
New users are arriving, yet the wider conversation around XRP has turned gloomy. Social media sentiment toward XRP has weakened for nearly two months, Santiment data shows. The Binance hack sped up that slide.
XRP now draws about 0.61 bullish comments for every bearish one. Bitcoin (BTC) sits near 0.69, while Ethereum (ETH) holds around 1.14.
Santiment sees a relief rally as likely if sentiment stays below 1.0 while prices stop making new lows. However, the firm cautioned that fear alone does not mark the exact bottom.
“If BTC and XRP sentiment stays below 1.0 while prices stop making new lows, keep an eye out for a likely eventual mid-term relief rally,” the post read.
That caution also shows up in US trading data, where demand for XRP has softened on two fronts.
US Demand Cools on Coinbase and in ETFs
The XRP Coinbase Premium Index fell to about -0.16%, an eight-month low, according toanalyst Arab Chain.
A negative reading means XRP trades lower on Coinbase than on Binance. Coinbase is a key venue for US retail and institutional traders.
Arab Chain noted the drop alone does not confirm further downside.
“Historically, sustained negative readings have sometimes been associated with weaker buying demand on Coinbase, while a return to positive territory may indicate a relative improvement in demand,” the analyst added.
Spot XRP ETFs showed a similar slowdown. They drew $18.83 million in net inflows in October, per SoSoValue.That was the smallest monthly inflow since January. September brought $121.40 million.
Still, the funds held steady after the hack. They added $8.43 million on October 29 and lost only $496,000 on October 30.
US spot Bitcoin ETFs, meanwhile, shed $643 million on October 30. With adoption rising and US money cautious, XRP’s next move rests on a narrow price band.
XRP Price Sits on Santiment’s $1.25 Pivot
XRP trades at $1.25, down 0.65% over the past 24 hours, per BeInCrypto Markets. It has lost 4.43% over 7 days.
XRP Price Performance. Source: BeInCrypto Markets
Santiment sees $1.25 as the immediate pivot. Reclaiming $1.30 with new-wallet growth above roughly 4,000 a day would strengthen the setup.
In contrast, a drop below $1.20 with daily network growth under 3,000 would weaken that signal.
November ETF flows and the Coinbase premium will show whether US demand catches up with the new users.
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米当局者がウォール・ストリート・ジャーナルに語ったところによると、米国は月曜日、イランのケシュム島を攻撃した。イラン国営メディアは、ホルムズ海峡近くに位置する同島で複数の爆発があったと報じた。
BBCによると、当局者は、イランのイスラム革命防衛隊（IRGC）が米軍機に発砲したことへの報復として攻撃を行ったと述べた。攻撃は、中間選挙の前日に行われた。この戦争は2月28日に始まった。
米国、イランのケシュム島を攻撃
同紙は月曜日の攻撃について、ここ数週間にわたる限定的な攻撃の連続の中で、最新のものだったと伝えた。ある当局者によると、ワシントンは大規模な戦闘への復帰を示唆しないよう、作戦を公にしないようにしていた。

S&P 500は1982年以降、米国の中間選挙の翌年には毎回上昇しています。米国民が今日投票するなか、過去の実績は株式に有利ですが、いくつかのマクロ経済リスクがこの記録を脅かす可能性があります。
ビットコイン（BTC）も、直近の中間選挙の1年後には上昇して終えています。ただし、その後数カ月間の値動きは、株式よりもはるかに荒いものでした。
中間選挙後、40年にわたって続く上昇
CNBCによると、S&P 500は1982年以降に行われた11回の中間選挙のそれぞれから1年後までに、平均13.7%上昇しました。いずれの場合も、指数は前年を上回って終えました。

市場アナリストのBenjamin Cowen氏は、広く予想されていた調整は起きないという見方があったにもかかわらず、米国株の第4四半期の市場急落は予定どおり訪れたと述べている。
この見方は3回の中間選挙サイクルに基づくもので、Cowen氏は正確な科学ではないと述べている。ナスダックは10％超下落し、2018年と同じ動きを見せているという。ビットコイン（BTC）保有者も同じ議論に直面している。Cowen氏によれば、ビットコインも第4四半期に底を打つ傾向があるからだ。
市場の合意は調整から市場を守るのか？
Cowen氏は動画で、第4四半期のリスクについて年間を通じて警告してきたと述べる一方、それが確実だと保証されたことは一度もないと強調した。

ジム・クレイマーは、木曜日の決算発表を前に、ラルフローレン（RL）株をアパレル銘柄の最有力候補に挙げた。2022年後半以降に380％上昇し、S&P 500の約110％の上昇率を大きく上回っていることを理由に挙げた。
ラルフローレンの株主は、こうした上昇分を保ったまま決算発表を迎える。一方、コーチの親会社であるタペストリー（TPR）は、クレイマーが「ほぼ予想どおり」と評した業績見通しを発表した8月の決算後に20％超下落した。両社は同じ日の朝に決算を発表する。
ラルフローレン株は380％上昇を続けられるか？
クレイマーによると、ラルフローレンの売上高は過去5会計年度にわたり年率13％で複利成長し、調整後1株当たり利益（EPS）は57％で複利成長した。

Wall Street analysts have largely held their S&P 500 earnings forecasts, Yardeni Research President Ed Yardeni said. For 2028, they still sit near $500 per share, even after Alphabet and Intel sold off.
However, Yardeni’s own 2028 forecast is $450, about 9% below the $493 consensus he cited in an October 24 note. S&P 500 holders are exposed to profit growth that he considers too bullish.
Why Are S&P 500 Earnings Not Lifting the Index?
Yardeni made the case in an interview ahead of the US midterm elections. He said weekly consensus estimates stayed roughly flat in the week of October 26. Analysts remain strongly bullish on 2027 and 2028, he added.
Meanwhile, the index has trailed those profits, based on figures in the note. Forward earnings per share, a gauge of expected profit over 12 months, was up 31% this year. At that point, the S&P 500 had gained 11.4%.
As a result, the index’s forward price-to-earnings multiple, which prices stocks against expected profit, fell 13.5% this year. Yardeni’s 7,900 year-end target applies a multiple of 18.6 to a $425 forecast for 2027 earnings.
Analysts’ 2027 consensus of $424.56 sits almost exactly on that forecast. He cut that multiple from 19.8 in September, when he moved his earlier 8,400 target to mid-2027.
Can AI Credit Stress Break the 7,900 Call?
Estimates held through a late-October Nasdaq-100 rout that erased roughly $2 trillion of market value. Alphabet had its worst session on record, and Intel fell nearly 29% in one day.
Yardeni says bond investors are policing AI borrowers and calls the trend healthy. His note cites wider credit default swap spreads, a gauge of default risk, at Oracle and AI cloud provider CoreWeave.
In addition, he said hyperscalers, the largest cloud providers, have data-center commitments and backlogs already locked in.
Yardeni said the bonds of AI companies look better placed than their stocks. In his view, it remains unclear when the spending will produce earnings.
That leaves his 7,900 call resting on the multiple, since 2027 profits already match consensus. Falling bond yields would ease that pressure, while rising AI borrowing costs could push 2028 estimates lower first.

アーサー・ヘイズは、米連邦準備制度理事会（FRB）または銀行がバランスシートの拡大を始めるまで、ビットコイン（BTC）の低迷が続くと予想している。米ドルの流動性を示す指標は、今年すでに約4.5％上昇している。
BitMEXの共同創業者で、ファミリーオフィスMaelstromの最高投資責任者を務めるヘイズは、Xにこの見通しを投稿した。そのため、ビットコイン保有者は、上昇する流動性指標と、ヘイズが低迷の要因として挙げるバランスシートの状況に直面している。
流動性が上昇しているのに、アーサー・ヘイズがビットコインに慎重な理由とは？
この投稿には、ドル流動性の指標である.USDLIQ指数のチャートが添えられていた。

Robinhoodの最高財務責任者（CFO）であるシブ・ヴェルマ氏は、個人投資家が新規株式公開（IPO）でより多くの株式を受け取れるようにしたいと考えている。同氏は、同社がAnthropicのIPOに参加すると述べた。
ただし、配分を決めるのはRobinhoodではない。発行企業とその引受銀行が決定する。配分によって、公開市場で買うのではなく、公開価格で株式を購入できる顧客の数が決まる。
なぜ今、企業は個人投資家がどこまで参加できるかを尋ねているのか？
ブルームバーグによると、Anthropicは投資家に対し、第3四半期の売上高が168億ドルに達し、前年同期の約12倍になったと伝えた。証券取引委員会（SEC）に提出した修正届出書には、約8,950億ドルの確定支出も記載されている。

Bitcoin price enters November defending $76,000, the average cost basis of short-term holders. The level was held after the Binance hack pushed BTC to a six-week low of $76,275.
The shock from Binance triggered $1.58 billion in liquidations, and BTC closed October with a 7% loss.
On-Chain Data Puts Bitcoin at a Make-or-Break Level
Glassnode data shows heavy exchange inflows during the late-October slide. Net deposits reached about 11,500 BTC and 8,000 BTC on separate days, signaling sell-side pressure.
Net outflows of roughly 40,000 BTC followed within days, among the largest of 2026. However, these flows do not suggest accumulation.
Bitcoin exchange net transfer volume. Source: Glassnode
The stolen 18,270 BTC left a Binance hot wallet during the hack, which registers as an exchange outflow. Users then pulled about $2 billion within three hours after withdrawals reopened on November 1.
Meanwhile, the attacker’s coins remain untouched across 19 addresses. Any move toward exchanges could add fresh supply pressure.
The Short-Term Holder Market Value to Realized Value (STH MVRV) ratio offers a clearer signal. It compares the market price with the average cost basis of recent buyers.
The metric sits near 1.02, meaning short-term holders are about 2% in profit. That places their cost basis close to $76,000, almost exactly at last week’s low.
Bitcoin short-term holder MVRV / Source: Glassnode
Historically, drops below 1.0 in 2026 preceded capitulation. Breakdowns in late January and late May led to the February and June lows. In contrast, the August reclaim sparked a rally toward $87,000.
The ratio has also printed lower highs since late September, falling from 1.20 to 1.03. Holding $76,000 keeps recent buyers profitable, while losing it could push them to sell at a loss.
Bitcoin Price Prediction Points to Two November Scenarios
On the weekly chart, BTC is testing the bull market support band. The band combines the 21-week exponential moving average (EMA) at $76,874 and the 20-week simple moving average (SMA) at $73,779.
However, the Gaussian channel has stayed red since March, signaling a broader downtrend. BTC was recently rejected at the channel’s declining midline, now near $81,850.
The weekly Relative Strength Index (RSI) reads 52, a neutral level that leans slightly lower.
BTC weekly chart. Source: TradingView
The daily chart adds a bearish warning. The Supertrend indicator flipped red after the hack, for the first time since May.
That May signal preceded a 25% drop to $57,800. A similar decline from the latest flip near $80,000 would target roughly $60,000.
For now, BTC is holding the 0.5 Fibonacci retracement at $77,876. Daily RSI has slipped to 38, extending a downtrend in momentum.
Resistance sits at $81,000 to $82,000, with a stronger supply zone between $85,000 and $87,000. That upper zone rejected BTC twice in late September and early October.
BTC daily chart. Source: TradingView
The November outlook therefore hinges on $76,000. Holding it and reclaiming $82,000 could open a path to $87,000.
Losing it would expose the $73,000 to $74,000 zone. The daily 0.382 Fibonacci level, the 20-week SMA, and the weekly 0.236 Fibonacci level all cluster there.
A breakdown below that zone could extend the slide to the Gaussian channel’s lower band near $71,000. A May-style repeat would put $60,000 in play.
Catalysts could accelerate either move. Bitcoin ETFs saw $643 million in outflows the day after the hack. Meanwhile, the US midterms on November 3 add another layer of uncertainty.

OpenAIの縮小された資金調達ラウンドは、AIへの不安が公開株式市場から未公開市場にも波及していることを示唆している。一部の投資家は、当初の目標額300億ドルから約200億ドルに縮小した調達ラウンドへの割当額を減らした。
とはいえ、このラウンドでもOpenAIの企業価値は1兆2,500億ドルと評価されている。当初求めていた1兆4,000億ドルからは下がった。公開企業と未公開企業の両方を保有するクロスオーバー・ファンドは、公開市場の変動を直接受けると、CNBCのケイト・ルーニー氏は述べた。
OpenAIの既存出資者は、さらなる投資をやめるのか？
ルーニー氏によると、多くの個人投資家はすでにOpenAIへの投資エクスポージャーを抱えている。そのため、公開市場が変動するなかで、さらに投資を増やすのは難しくなると同氏は付け加えた。

Could the next altcoin season be closer than traders think, even as Bitcoin struggles below $80,000?
At TOKEN2049 Singapore, BeInCrypto spoke with Peter Anthony, founder of The House of Crypto, a popular trading education platform with a community of over 400,000 followers, as part of the Bitunix Ultra Talk interview series.
Peter believes the crypto market could be approaching another turning point. He explained why an unexpected economic indicator might signal the next altcoin rally and how traders can identify opportunities before prices take off.
Could Altcoin Season Arrive Sooner Than Expected?
Many crypto investors are still waiting for an altcoin season. Bitcoin continues to dominate the market, while most smaller cryptocurrencies have struggled to sustain meaningful rallies.
The latest Altcoin Season Index remains below the level associated with a broad altcoin rally. Bitcoin also entered November under pressure, following a difficult October and ahead of the November 3 US midterm elections.
However, Peter believes traders might be overlooking an important economic signal.
He has been studying the relationship between Bitcoin dominance and the US Institute for Supply Management’s (ISM) Manufacturing Index, which measures activity across American factories.
Peter points to a reading of 58 as a potentially important level. He believes previous periods of strong manufacturing activity have coincided with sharp declines in Bitcoin dominance, when smaller cryptocurrencies started outperforming Bitcoin.
“We haven’t seen that happen since 2021.”
Interestingly, the latest economic data appears to be moving in the direction he describes.
Altcoin Season Index
The ISM Manufacturing Index rose to 55.5 in October, up from 54.5 in September. The November 2 report showed US manufacturing expanding for the tenth consecutive month.
Peter also sees the global artificial intelligence boom as a potential driver of further economic growth.
He specifically highlighted semiconductor exports from Taiwan and South Korea as indicators worth monitoring.
South Korea’s semiconductor exports surged 259.4% in October, driven by global demand for AI infrastructure.
The theory is that stronger economic activity could eventually improve liquidity and investors’ appetite for riskier assets, including altcoins.
However, the relationship between manufacturing activity and Bitcoin dominance is a historical observation rather than a proven trading signal.
Peter remains optimistic about the possibility of an earlier recovery.
“I think we could see it sooner rather than later.”
Where Should Traders Look Before the Next Altcoin Rally?
If altcoin season does return, Peter believes traders should pay close attention to where money is moving across the crypto market.
He argues that following capital flows between blockchain networks can help identify opportunities before individual tokens start rallying.
During the interview, he discussed activity around the Robinhood ecosystem and capital shifting toward Solana, Sui, and Base.
His approach involves looking at which blockchain networks are attracting new money and identifying projects that might benefit from that activity.
“When a chain starts to pick up in volume, what does well on a chain? DEXes, lending protocols, this is the playbook.”
Decentralized exchanges and lending platforms can benefit when trading activity increases on their networks.
Peter recommends monitoring these movements through on-chain analytics platforms, including Artemis and DefiLlama.
The idea is straightforward: when a blockchain attracts more users and trading activity, some applications built on that network may see increased demand.
That can help traders narrow their research, although growing network activity does not guarantee that related tokens will rise.
How Can Traders Find Undervalued Altcoins?
Peter also believes that traders regularly overlook promising projects because their token prices have fallen sharply.
He explained that some cryptocurrencies can lose 80% or 90% of their value while the underlying businesses continue generating substantial revenue.
“People look at the chart and think, ‘Oh, it’s a scam.’ But it’s not. It’s just come down in value, token value.”
He pointed to Pump.fun and Hyperliquid as examples of projects worth studying through their financial performance.
For context, DefiLlama data shows Pump.fun generated approximately $45.35 million in protocol revenue during October 2026.
Peter believes this kind of information can help investors assess whether a cryptocurrency deserves another look after a steep decline.
“What’s their revenue looking like?”
However, protocol revenue does not automatically translate into higher token prices. Token supply, valuation, and the mechanisms through which holders benefit from a project’s success also matter.
His broader strategy is to identify projects with strong underlying activity before the market begins paying attention to them.
What’s the Biggest Mistake Traders Make During a Rally?
For Peter, one of the biggest dangers in crypto trading is buying into a popular narrative too late.
He explained that investors frequently discover new opportunities after prices have already risen and social media discussions have intensified.
His advice is to question how many potential buyers remain once an investment becomes widely popular.
“Who is left who’s stupider than me to buy in after me?”
He described missing an earlier rally around the Robinhood blockchain ecosystem because the related tokens had already surged by the time he noticed the trend.
The experience reinforced his preference for identifying market narratives early and avoiding assets that have already attracted widespread attention.
“When you spot the narrative, you need to ask yourself, when have I spotted this narrative compared to everybody else?”
The same principle applies to traders tempted to sell underperforming holdings simply because another cryptocurrency is rallying.
Peter argues that investors should understand why they own a particular asset and whether its underlying fundamentals remain strong before changing positions.
Could Bitcoin’s Bull Market Continue Into 2028?
Peter’s optimism extends beyond altcoins.
He believes Bitcoin could be experiencing a longer market cycle than the traditional four-year pattern that many investors follow.
Depending on how the broader economy develops, he sees the possibility of the current cycle continuing into 2027 or even 2028.
“I think there’s a lot more fuel in the tank. I think we’re going to see Bitcoin continue to rise.”
He also believes there is room for further adoption as more financial activity moves on-chain.
Still, his outlook depends on economic conditions continuing to improve, particularly the manufacturing and liquidity trends he has been watching.
For traders waiting for the next altcoin season, Peter’s central message is to follow capital flows, research project fundamentals, and remain alert to shifts in the broader economy.
The next rally may be difficult to predict precisely. His approach is to identify where opportunities could emerge before they become the market’s next popular trade.

暗号資産市場全体で急激な売りが広がるなか、ビットコイン価格は本日77,000ドルを下回りました。しかし、3つのアルトコインには底堅さの兆しが見られ、テクニカルチャートは回復の可能性を示しています。
ハイパーリキッド（HYPE）、ペペ（PEPE）、スタックス（STX）は、最近の価格構造の重要な水準を維持しています。次の値動きは、買い手がサポートを守るか、レジスタンスを突破するかに左右される可能性があります。
アルトコイン現在価格*見通し注目ポイントHYPE$84.40中立重要なサポートを試す展開PEPE$0.00000485強気直近のブレイクアウト水準を再び試す展開STX$0.3282中立急落から回復中

SECは、Uniswap（UNI）のようなガバナンス型暗号資産に関する重要な疑問を明確にしました。数千人の投資家に議決権を与えると、そのトークンは有価証券になるのでしょうか？
SECの職員は現在、ネットワークが実質的に分散化されている場合、一般的には該当しないと述べています。この明確化により、分散型金融（DeFi）プロジェクトとその投資家にとって、大きな規制上の懸念が解消される可能性があります。
SECは何を変更したのか？
11月2日の更新で、SECの職員は、ガバナンストークンが同機関の3月の暗号資産フレームワークにどのように位置づけられるかを説明しました。

Police in Dorset are investigating a series of local burglaries. Thieves stole Pokémon cards, jewellery, watches, and cash worth about £10,000 ($13,400) from several nearby homes.
The thefts reveal how a booming collectible market has turned rare cards into valuable targets.
Why Burglars Are Targeting Pokémon Cards in Dorset
The break-ins hit homes on Oakhurst Road and Pinehurst Road between September 30 and October 11, 2026. In each case, the residents were away.
Thieves took jewellery, watches, and cash alongside the cards.
However, the collectibles stand out because they are small, portable, and easy to resell online.
Officers have released images of the missing cards. They are also asking for dashcam footage, doorbell recordings, and tips from anyone who was offered the cards for sale.
The FBI is investigating thieves using stolen credit cards to buy valuable Pokemon cardsSeven stores in New Jersey were targeted, with some losing tens of thousands of dollars in stock pic.twitter.com/HZvF4BvMvi
— Dexerto (@Dexerto) October 31, 2026
Police Constable Anya Parvin said the force is still examining the break-ins. She urged witnesses of suspicious activity to come forward. She also asked anyone who has seen the stolen cards offered for sale to contact the force.
Officers also reminded residents to review home-security advice on the force website.
Why Are Pokémon Cards Worth So Much Now?
Scarcity is the main reason. Before 2019, the company printed roughly 1.5 to 2 billion cards a year.
Today, production exceeds 10 billion cards a year.
As a result, two-thirds of all cards ever made appeared only after 2019:
Older, well-preserved copies are therefore finite, and collectors pay large sums for them.
Even modern chase cards fetch four-figure prices. The “Sunbreon” Umbreon ex, Rayquaza VMAX, and “Moonbreon” Umbreon VMAX often trade above £1,000 ($1,340).
These Special Illustration Rares and Alternate Arts come from sets such as Prismatic Evolutions and Evolving Skies.
The best examples exceed £2,000 ($2,690)—moreover, one rare card sold for a record $16.5 million this year.
Logan Paul sold his PSA 10 Pikachu Illustrator for a record $16.5 million.He said he told himself he would be responsible with the money and put it into something like Tesla.Instead he put most of it straight back into more Pokémon cards.Paul described the usual collector… pic.twitter.com/NqHSDDdlpH
— Sepreth (@acidxhost) October 31, 2026
Meanwhile, recent index data show top Pokémon cards outpacing Bitcoin. Tokenized funds, digital vaults, and on-chain pack platforms all need physical cards to back their products.
Historically, card prices have moved almost independently of Bitcoin and stocks. However, analysts say continued crypto inflows could change that link. For now, burglaries may keep rising as values climb.

月曜日、ウォール街は10月にテクノロジー株から2兆ドルが吹き飛んだ後、回復する構えを見せていた。しかし数時間のうちに、市場で新たに生じたおよそ7,000億ドルの上昇分が消え去った。
S&P 500は午前の取引で一時1.1%上昇したが、0.5%安で取引を終えた。ナスダック総合指数は1.1%下落し、先週のAI株の激しい売りが続いた。
この反転は、CNBCの司会者ジム・クレイマーがXに次のように投稿した直後に起きた。
「さあ始まるぞ。史上最大のテック企業買収だ。」
彼が指していたのは、マーベルによるルメンタムの1,150億ドルでの買収だった。しかし、そのタイミングはすぐに、クレイマーの相場予測が当たったり外れたりすることで有名なことを揶揄するジョークを再燃させた。