News linked to both this project and an event.
Crypto analyst Plan B posted that Bitcoin closed October at $77,430, failing to deliver the "Uptober" rally the market had hoped for. However, Bitcoin's Relative Strength Index (RSI) has remained above 50 for a third consecutive month, a signal Plan B believes indicates a new bull market is forming.
Odaily reports: Crypto analyst Darkfost posted that Bitcoin short-term holders (STH) saw a sharp increase in profits yesterday, with their cost basis now approaching $76,000, and the market is testing this group's conviction to hold. The short-term holder MVRV metric is currently approaching the neutral level of 1, after having risen above 1.18 in late September—a new high since July 2025—meaning short-term holders had previously been sitting on the highest level of unrealized profits in over a year.Darkfost noted that the short-term holder cost basis has been rising continuously since mid-August, when it was around $67,500, reflecting this group's continued entry as Bitcoin rallied. As Bitcoin's medium-term trend turns positive, MVRV returning to near 1 could become a key price zone for short-term holders to take action: some investors may choose to keep buying, while others may capitulate and exit due to lack of confidence. Which force ultimately prevails in the market remains to be seen.
Odaily reports: The Kobeissi Letter posted on the X platform that the Nasdaq 100 index has shed approximately $4 trillion in market value in 25 days, with AI stocks falling more than 13% in October, while the S&P 500 excluding AI stocks rose 8% over the same period and hit a record high on Friday. The S&P 500 is currently just 3.5% away from its all-time high, yet about 58% of its constituents are down at least 20% from their respective peaks, 75% of tech stocks have entered bear market territory, and within the information technology sector, as many as 91% of stocks are down at least 10% from their highs.The Kobeissi Letter believes that the current selling pressure is concentrated mainly in tech-related stocks, and that most investors, given their heavy tech exposure, are feeling market stress far greater than what the major indices reflect. It also notes that record-scale capital expenditure by companies investing in the AI technology revolution, along with a normal market correction, may lay the foundation for the next leg up, and expects the market to remain highly volatile in November.
Crypto trader Ansem stated that risk management for short-term trading should not solely focus on price and stop-loss levels, as time is also a key indicator. If the market fails to move in the expected direction for an extended period, traders should reassess their trading logic even if the stop-loss has not yet been triggered.
Odaily report: Crypto analyst Darkfost posted that market sentiment deteriorated noticeably within a single day, with the Fear and Greed Index falling from 51 (neutral) to 30 (fear), the lowest level since mid-August. Over the same period, Bitcoin dropped about 4% to 5% within 24 hours, briefly touching a six-week low near $76,500; Ethereum fell below $2,200, and total liquidations across the market exceeded $1.6 billion in the past 24 hours.Darkfost noted that historically, periods of market pessimism often correspond to accumulation opportunities, but the current index reading of 30 only represents fear and has not yet entered the extreme fear zone below 25, suggesting market sentiment may remain under pressure. In addition, this round of decline was partly triggered by Binance's $6.3 billion hack incident and did not stem entirely from a clear deterioration in market fundamentals.
Bonk Guy posted that although Bitcoin has further dropped from around $79,000 to near $77,000, most altcoins have shown relatively strong resilience against Bitcoin. While some tokens also declined, the drops were relatively limited. Binance appears to have bought back most of the tokens sold off during the hack incident, and approximately $3 billion in assets have been frozen and are expected to be returned. Of the $6.3 billion in losses involved in this incident, about half has been frozen, and the remaining portion may also be recovered within a reasonably short timeframe.Bonk Guy expects that Bitcoin may decline further and form a阶段性 low, but most of the selling pressure on altcoins may have already been released. Market conditions could improve over the coming weeks to months, and he believes it is currently more suitable to go long on altcoins, buying in batches during pullbacks.
DeFi researcher Ignas posted on X stating that during the current market downturn, the "buy the dip" sentiment commonly seen in the past has rarely appeared on social media. Although some market participants believe that Bitcoin holding the $77,000 to $80,000 range is a bullish signal, most crypto traders may already hold substantial token positions, and some investors would rather wait for price confirmation of an uptrend before buying than bottom-fish amid panic. Assets decoupled from Bitcoin's price action such as HYPE, as well as "conviction tokens" like ZEC and revenue-generating assets like HYPE, remain attractive. However, there is currently insufficient potential buying interest—retail investors who previously favored crypto assets are now being buffeted by volatility in assets such as AI stocks, gold, and quantum computing, and crypto ETF fund flows have also turned to net outflows over the past 30 days.
Odaily report: Analysts from three Wall Street firms—Cantor Fitzgerald, TD Cowen, and Compass Point—all believe that despite Binance suffering an approximately $6.3 billion hack, there is currently insufficient evidence to suggest the incident will threaten the broader crypto market, and the market's prior recovery trend is unlikely to be interrupted as a result.Cantor Fitzgerald analyst Ramsey El-Assal noted that Tether has frozen over $1.5 billion in stolen assets, Circle has frozen approximately $800 million, and Ripple has frozen about $200 million, with Binance stating that the total frozen stolen funds currently amount to roughly $3 billion. He believes the crypto industry is gradually improving its ability to respond to such security incidents and expects crypto-related stocks such as Coinbase, Robinhood, and Strategy to rebound once market panic subsides, recommending that investors buy on the dip.TD Cowen analyst Lance Vitanza believes the attack exposed security weaknesses in Binance's own transaction signing infrastructure rather than flaws in the underlying technology of cryptocurrencies like Bitcoin, and that the market sell-off may present an opportunity to accumulate Bitcoin and shares of listed companies holding Bitcoin.Compass Point analysts believe Binance has sufficient liquidity to cover the funding gap, and expect its excess USDT reserves, BTC reserves, and USDC funds to be adequate to absorb the losses. However, the firm also warned that Binance compensating customers could put pressure on stablecoin supply and may drive users to migrate from centralized exchanges to competing platforms such as Coinbase, Bullish, and Hyperliquid. (CoinDesk)
trader Killa stated in a post that the FTX collapse once marked a market bottom, and the recent Binance hack incident may have a similar effect. He believes the best way to recoup losses is to drive prices up significantly rather than push them further down, noting that Binance holds billions of dollars worth of Bitcoin and has the financial capacity to launch billion-dollar-scale long positions, and that such operations may not be directly observable by retail investors.Killa also speculated that Binance may have generated approximately $1 billion in revenue through liquidations, slippage, and trading fees. Although the market may need some time to digest the short-term impact of this incident, he remains bullish on the medium- to long-term outlook for the crypto market.
Odaily reports: Some market observers suggest that following the approximately $6.3 billion hack on Binance, project teams, VCs, and associated wallets may temporarily hold off on selling their altcoin holdings. In the coming days, funds, insiders, and project-affiliated wallets may exercise greater caution before selling tokens into the market to avoid further exacerbating selling pressure.Blockchain analytics firms TRM Labs and Chainalysis have both attributed the attack to North Korea with high confidence. Binance has committed to covering user losses through its protection fund and company resources, and approximately $3 billion in stolen assets have been located, with about half frozen through stablecoin issuers such as Tether and Circle. Market analysts note that the incident has once again sparked discussions around the security of centralized trading platforms, the freezing capabilities of stablecoins, and the difficulty of tracking decentralized assets. (zerohedge)
CZ responded to a community user's comment on Bitcoin's resilience, saying that given the sharp declines in traditional financial markets today, which fell more than the crypto market, Bitcoin's performance was quite surprising. Traditional financial market downturns usually drag down the crypto market, as investors tend to sell off assets and hoard cash, but this time Bitcoin demonstrated remarkable resilience.Previously, a community user noted that if the world's largest cryptocurrency exchange had suffered a hack exceeding $6 billion, Bitcoin's price would have been expected to take a heavy hit, yet its decline that day was only about 3%, suggesting the market bottom may be near.
Odaily reports: Cryptocurrency market liquidations exceeded $1.54 billion on Friday morning, with an attack on Binance triggering a market-wide sell-off. Long positions accounted for approximately $1.29 billion in liquidations, representing over 80% of the total. Binance stated that attackers stole approximately $6.3 billion, with the investigation pointing to a compromised laptop belonging to a DevOps engineer.Bitcoin briefly dropped to $76,320, with related liquidations approaching $500 million; Ethereum long liquidations exceeded $300 million. Bitcoin subsequently rebounded to $78,400 but remains down 2% over the past 24 hours and 5% below its price at the start of the month.Binance said partners have frozen approximately $3 billion of the stolen funds, and the company will draw on its Secure Asset Fund for Users (SAFU) and corporate reserves to cover remaining customer losses. Deposits and withdrawals remain suspended, and Binance has revoked authorizations for affected addresses while contacting law enforcement and blockchain intelligence partners to trace the funds. On-chain analyst ZachXBT linked the attack to the North Korea-affiliated threat group Tradertraitor. (Bitcoin.com News)
Odaily reports: Crypto KOL Seven research posted that "right now, the vast majority of market makers and quantitative firms in the crypto market keep the bulk of their capital and main margin accounts on Binance. Many institutions engage in cross-exchange arbitrage or hedging, and Binance's suspension of withdrawals could cause their funding chains to seize up on the spot—if market volatility continues to intensify, they would be unable to withdraw funds from Binance to top up margin elsewhere. To avoid liquidation, they would be forced to close positions on other exchanges and on-chain, forcibly pulling cash back. This is also why, even though the assets stolen were Ethereum-ecosystem assets, Solana and a bunch of altcoins ended up crashing along with it today."
According to on-chain reports, abnormal fund outflows have occurred from Binance's hot wallet, with funds flowing to newly created addresses. These addresses were initially funded via Tornado Cash, and the stolen funds are valued at over $2.5 billion.
Trader Killa posted that despite the market facing multiple bearish factors—including the Fed's hawkish decision, rising oil prices, hotter-than-expected CPI data, surging global bond yields, a stronger dollar, the Ledger wallet hack, and market concerns over Strategy (MSTR)'s delisting risk and its pivot to AI—Bitcoin has still maintained range-bound trading. Given the current macroeconomic pressures and negative news, Bitcoin should have fallen below $70,000, but its resilience is noteworthy. The market may be gradually forming a significant interim bottom, and its ability to hold the price range amid bearish shocks indicates that it is absorbing negative news, which is also a typical characteristic of a bull market.
Odaily Report: Market monitoring firm Solidus Labs has identified that a trader placed over $170 million in anomalous orders through two accounts on Hyperliquid during the period of severe international oil price volatility between March 8 and 10, suspected of using "spoofing" to influence market prices. The accounts in question placed large orders on one side of the order book before quickly canceling them, while simultaneously executing trades on the other side. Solidus stated that the trader profited approximately $119,000 during the relevant period, but their true identity and subjective intent to manipulate the market have not yet been confirmed.In one case, the trader rapidly canceled approximately $17 million in sell orders while executing approximately $425,000 in buy orders, with the Brent crude oil perpetual contract price showing significant fluctuations before and after the cancellation. Hyperliquid Labs emphasized that all orders, cancellations, and trade records on the platform are publicly recorded on-chain and available for real-time review; the relevant contract issuer Trade.xyz also stated that the platform has order limits and continuous monitoring mechanisms in place. This incident has once again raised market concerns about trading regulation on crypto derivatives platforms and their potential impact on traditional commodity markets. (Bloomberg)
Glassnode's latest report indicates Bitcoin's one-month realized volatility has dropped to approximately 25%, falling back to summer 2023 levels; since August, the realized losses triggered by each round of decline have continued to narrow, suggesting that selling pressure has eased somewhat. Glassnode believes that Bitcoin is currently in a range-bound state characterized by weak demand and limited selling pressure, with the market focused on the Federal Reserve's interest rate decision on October 28. If the daily close reclaims the $85,000 level, it could serve as an initial signal for a further rebound; if it breaks below the active investors' average cost of approximately $77,900, attention should be paid to short-term holder cost support near $75,800.Market data shows that Bitcoin has fallen back below the $84,000–$85,000 range, which has capped price gains four times this year. Inflows into U.S. spot Bitcoin ETFs have cooled notably, with net inflows of only about $67 million over the past two weeks; major buy-order support on Binance's spot order book has also shifted down to the $78,000–$79,000 range, amounting to approximately $42 million.
Odaily reports: Bitcoin rose about 0.8% since midnight (UTC) on Monday to $81,400, after briefly falling below $80,000. Ethereum gained 0.9%, Asian chip stocks led a tech rebound, South Korea's KOSPI rose 6.6%, SK Hynix climbed about 11% on roughly 7x year-over-year profit growth, and Nasdaq 100 futures rose 0.5%.The Federal Reserve is about to announce its rate decision, and the CME FedWatch tool shows the market sees about a 92% probability of rates being held steady. Traders will focus on Fed Chair Kevin Warsh's press conference to gauge whether there is any possibility of a rate hike ahead. U.S. spot Bitcoin ETFs saw net inflows of $176 million on Tuesday, marking a second consecutive trading day of inflows.On the derivatives side, crypto futures trading volume rose 7.5% over the past 24 hours to $163.2 billion, open interest increased only 1.3%, and liquidations rose 38% to $183.6 million. Bitcoin rose 2.3% while open interest actually fell 0.1%; Ethereum rose 2.7% with open interest up 1.7%, indicating the price rebound has not yet been accompanied by large-scale new leverage. ZEC open interest grew 14%, higher than its 6.3% price gain over the same period, making it one of the large crypto assets with the most obvious new position building.In the options market, Deribit data shows that Bitcoin's one-week put/call skew has dropped from nearly 10% a week ago to less than 1%, indicating that demand for short-term downside protection has weakened somewhat, though the one-month, three-month and six-month tenors remain clearly skewed toward puts. Meanwhile, gold futures open interest fell 10%, while open interest for Tether's gold token XAUT rose 11.6%, showing divergent capital flows. (CoinDesk)
Odaily reports: Trader Bonk Guy (@theunipcs) posted that Robinhood's latest earnings results represent a major positive for the on-chain ecosystem, with Robinhood Chain playing a key role in the growth of its crypto business revenue. Robinhood CEO Vlad Tenev also explicitly expressed positive expectations for the future development of its on-chain business.Bonk Guy further noted that PONS currently holds approximately 88% market share of the Robinhood Chain token launchpad. If the Robinhood Chain ecosystem has already bottomed out, PONS is well-positioned to capture a significant share of future capital flowing into the ecosystem, and he expressed strong bullishness on PONS's subsequent performance.
A Galaxy Research report shows that Meme coins' share of Solana trading volume has fallen from over 50% at the end of 2024 to 15%–20% in Q2 2026. In addition, SOL has declined nearly 20% year-to-date, and U.S.-listed spot and staked SOL ETFs recorded outflows for two consecutive weeks this month, totaling approximately $50 million. Meanwhile, Solana's share of on-chain perpetual contract trading volume has dropped from 17% to 6%. The Solana Foundation has reportedly issued a statement saying that Solana's transformation is underway, attempting to shift from a growth model reliant on Meme coins and speculative trading toward more mainstream financial applications such as stablecoins and tokenized assets, in a bid to win adoption from Wall Street institutions.However, with the crypto market downturn and the rise of competitors such as Hyperliquid, Solana faces challenges in transforming its growth model. Market analysts point out that the key to Solana's future lies in whether it can attract stable assets, developers, and users, rather than relying solely on speculative trading to drive growth. (Bloomberg)