【November 4】

News Updates

1. Coinbase's Chief Legal Officer accuses the US FDIC of taking secret actions to suppress the crypto industry.

2. The United States will hold the 2024 presidential election on Tuesday, with many major polls showing Trump and Harris neck-and-neck.

3. Former SEC official: The SEC risks issuing a Wells Notice to Immutable without a thorough investigation.

4. Russia's cryptocurrency mining regulations come into effect, establishing strict new rules.

5. The US Department of Justice sues Gotbit's CEO for alleged market manipulation and conspiracy to commit fraud.

Market Highlights

1. The US will hold the 2024 presidential election on Tuesday; watch for secondary trading opportunities in Meme tokens like $PEOPLE, $MAGA, and $FIGHT.

2. Sotheby’s vice president tweeted that the BAN token is a project initiated out of personal interest. This has been interpreted positively by the market; as a leading art piece on the SOL chain, watch for speculative opportunities.

3. In October, the total NFT trading volume reached $356 million, an 18% increase from September, breaking a seven-month decline in monthly NFT sales, which could signal a warming trend in the NFT market; keep an eye on blue-chip NFT price dynamics.

4. The total market cap of stablecoins grew by 0.38% over the past week, nearing its highest level since May 2022, boosting market sentiment.

Market Trends

1. BTC falls below $68,000, altcoins broadly decline, with market funds focusing on MEME; new coin $GRASS shows strong performance.

2. US stocks rose last Friday, but gains narrowed by closing; all sectors fell for the week, with the chip index down over 4% for the week.

3. In Bitget's BTC/USDT liquidation map, based on the current 68,620 USDT, if it drops by a thousand points to around 67,620, the cumulative liquidation amount for long positions exceeds $330 million. If it rises by a thousand points to around 69,620, the cumulative liquidation amount for short positions exceeds $481 million. The liquidation amounts are close, so it is advisable to remain cautious and manage leverage ratios wisely to avoid triggering large-scale liquidations during market fluctuations.

4. BTC spot outflow funds have strengthened, with $81 million flowing out in the past 24 hours.

5. In the past 24 hours, net outflows from contracts of $BTC, $ETH, $BNB, $SOL, and $XRP lead the market, indicating potential trading opportunities.