Morning Report | Cryptocurrency-related stocks in the U.S. stock market generally rose before the market opened; Peter Schiff stated that MSTR's entire business model is a scam; Bitcoin and Ethereum's leveraged positions are being rapidly liquidated
Overview of Important Market Events on November 17整理：ChainCatcher
Important News:
- CICC: This round of the gold bull market may not be over yet, and a breakthrough of $5000 next year cannot be ruled out
- Peter Schiff: The entire business model of MSTR is a scam, and it will ultimately go bankrupt
- Matrixport: The leveraged positions of Bitcoin and Ethereum are accelerating liquidation
- The probability of a 25 basis point rate cut by the Fed in December is 44.4%, while the probability of maintaining the current rate is 55.6%
- CZ states that if he receives the previously refunded $4.3 billion, he will still invest it in the U.S. market
- "Rich Dad Poor Dad" author: I don't trust Wall Street, real money and Bitcoin are the real assets
- Data: U.S. stock cryptocurrency-related stocks generally rose before the market, with Coinbase up 1% and Strategy up 1.4%
What important events happened in the past 24 hours?
According to ChainCatcher, CICC released its 2026 outlook, stating that from a historical comparison perspective, this round of the gold bull market may not be over yet. The increase and duration of this gold bull market are still lower than the two major upward cycles in the 1970s and 2000s. Considering the current macroeconomic uncertainty, the long-term adjustment of global reserve structures, and the potential downward cycle of the dollar, we believe that the gold bull market has not reached its end. Unless the Federal Reserve completely ends its easing cycle or the U.S. economy re-enters a strong recovery phase of "declining inflation + rising growth," the medium-term logic for gold's rise will remain.
If the current trend continues, there is a possibility that gold prices could break through $5,000 per ounce next year. Although the bull market logic is clear, gold is indeed one of the relatively expensive asset classes at present, which may increase asset volatility. We recommend maintaining an overweight position in gold but reducing the practice of chasing highs and cutting losses, adopting a strategy of increasing allocation on dips and dollar-cost averaging, and focusing more on the long-term asset allocation value of gold. (Jin Shi)
Peter Schiff: The entire business model of MSTR is a scam, and it will ultimately go bankrupt
According to ChainCatcher, Peter Schiff posted on the X platform stating that the entire business model of MSTR is a scam. He and Michael Saylor will both speak at the Binance Blockchain Week in Dubai in early December and have challenged Michael Saylor to a debate. Peter Schiff believes that regardless of what happens to Bitcoin, MSTR will ultimately go bankrupt.
Matrixport: The leveraged positions of Bitcoin and Ethereum are accelerating liquidation
According to ChainCatcher, Matrixport expressed its market view, stating that the current market is in a clear deleveraging phase, and the risks of maintaining high positions are increasing. The open contract size of Ethereum has fallen by 50%, indicating that leveraged funds are rapidly shrinking. Against this backdrop, overall risk appetite is under pressure. Bitcoin is approaching the key support level of $93,000, and liquidity in this range may weaken further in a short time.
The previously crowded long positions in futures for the fourth quarter have been largely cleared, and the pressure on the leveraged side has been released in stages. What needs to be monitored next is that ETF holdings are currently relatively concentrated; if the market continues to weaken, this portion of funds may see further reduction needs, leading to new liquidity pressures.
According to ChainCatcher, Jin Shi reported that CME's "Fed Watch" shows that the probability of a 25 basis point rate cut by the Fed in December is 42.9%, while the probability of maintaining the current rate is 57.1%. By January next year, the cumulative probability of a 25 basis point rate cut is 48.2%, the probability of maintaining the current rate is 35.6%, and the cumulative probability of a 50 basis point rate cut is 16.1%.
According to ChainCatcher, CZ posted on the X platform in response to a user's inquiry about whether he would refund the $4.3 billion he paid, stating that a balance needs to be struck between seeking more and maintaining fairness.
CZ stated that if he receives any refunds in the future, the related funds will still be invested in the U.S. to express gratitude.
"Rich Dad Poor Dad" author: I don't trust Wall Street, real money and Bitcoin are the real assets
According to ChainCatcher, "Rich Dad Poor Dad" author Robert Kiyosaki posted on social media stating that Buffett claims Bitcoin is not an investment but speculation, predicting that the bubble burst will severely impact Bitcoin investors. However, the stocks, bonds, and other Wall Street assets sold by Buffett also carry the risk of collapse, as the central banks of Japan and China are currently selling U.S. Treasury bonds, which are considered "the safest investment."
Kiyosaki stated that he holds gold mines, gold and silver coins, as well as Bitcoin and Ethereum, because he does not trust the Federal Reserve, the U.S. Treasury, and Wall Street. He classifies real gold and silver as "God's currency," Bitcoin and Ethereum as "people's currency," and the currency issued by the Federal Reserve and government as "false currency." He emphasized that he trusts blockchain technology more than traditional accounting firms and stated that he would never invest in "false assets" such as gold ETFs, silver ETFs, or Bitcoin ETFs. Kiyosaki believes that since Bitcoin's total supply is limited to 21 million coins, while government currency can be printed infinitely, Bitcoin's value will rise as the purchasing power of the dollar declines.
According to ChainCatcher, Jin Shi reported that after the prices of Bitcoin and Ethereum rose, U.S. stock cryptocurrency-related stocks rose before the market. Riot Platforms (RIOT.O) rose 0.6%, Hut 8 Mining rose 2.5%, and Mara Holdings rose 1.4%. Coinbase (COIN.O) rose 1%, Bitfarms rose 2.3%, and Strategy rose 1.4%. PROSHARES Bitcoin Strategy ETF rose 1.6%, and iShares Bitcoin Trust rose 1.5%.
According to ChainCatcher, crypto KOL @Cbb0fe called out to Andre Cronje on the X platform, suggesting that the $1 billion fund management institution for Flying Tulip be re-selected. Official information shows that the current fund management institutions are MEV Capital and Re7 Labs, and both have performed "disastrously" in recent DeFi series explosions.
According to the crypto data platform RootData, the crypto project Flying Tulip founded by Andre Cronje announced the completion of a $200 million private seed round financing at a valuation of $1 billion, with participation from Brevan Howard Digital, CoinFund, DWF Labs, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital, and Virtuals Protocol.
This $200 million financing was completed through a Simple Agreement for Future Tokens (SAFT) structure, and Flying Tulip aims to build an on-chain trading platform covering the entire DeFi sector, including spot, derivatives, lending, stablecoins, and insurance, unified within one system.
Michael Saylor: Bitcoin must drop below $10,000 before Strategy will sell its holdings
According to ChainCatcher, Strategy founder Michael Saylor stated in an interview, "Bitcoin must drop below $10,000 before Strategy will sell its holdings."
According to ChainCatcher, the WeChat Security Center stated that it has recently received user complaints about certain WeChat accounts engaging in illegal activities such as organizing pyramid schemes and scams within WeChat groups. Such behaviors use the pretense of national asset unfreezing, national policies, and engineering projects, as well as blockchain virtual currencies and stablecoins, as bait for high returns, luring users to join WeChat groups, encouraging them to invite others, posting suspicious links to download fraudulent apps, conducting daily check-ins, meeting courses, and other brainwashing activities, ultimately leading to scams. These actions severely infringe upon users' property rights.
Once such behaviors are discovered and verified, the platform will handle the relevant accounts in a tiered manner based on the severity of the violations according to national laws and regulations, as well as the "Tencent WeChat Software License and Service Agreement" and "WeChat Personal Account Usage Specifications." Repeat offenders may face permanent login restrictions, and confirmed violating WeChat groups will have their group functions suspended.
Analyst: Bitcoin position indicators return to neutral, market digests strong bearish pressure
According to ChainCatcher, CryptoQuant analyst Axel Adler Jr stated, "The Bitcoin position index measures the overall direction and intensity of the futures market, i.e., the aggressiveness of participants opening long or short positions. After experiencing strong bearish pressure, this indicator has now returned to a neutral level. A slight market slowdown to digest the recent changes will be healthier for the market."
New Exchange: Launching Bitcoin and Ethereum perpetual futures on November 24
According to ChainCatcher, Jin Shi reported that the Singapore trading platform will launch Bitcoin and Ethereum perpetual futures on November 24. Bitcoin and Ethereum perpetual futures will only be available to qualified institutional investors. (Jin Shi)
Trump Organization plans to develop a "tokenized resort" project in the Maldives with Saudi partners
According to ChainCatcher, Bloomberg reported that the Trump Organization plans to develop a luxury resort in the Maldives in collaboration with Saudi partners and plans to tokenize the hotel development project.
According to a joint statement released by the two companies on Monday, Trump International Hotel Maldives will include 80 ultra-luxury beachfront villas and overwater villas, and the project will be built in cooperation with Dar Global Plc.
Fed's Jefferson: Digital assets are an important part of U.S. financial innovation
According to ChainCatcher, Jin Shi reported that Federal Reserve Vice Chairman Jefferson stated that financial innovation has always been a major feature of the U.S. financial system, and the rise of digital assets is part of it.
The Federal Reserve's regulations neither encourage nor discourage the use of cryptocurrencies; it depends on the private sector. The role of the Federal Reserve is to ensure that the banking industry remains safe and sound while the public accepts new technologies. As long as the Federal Reserve's policies remain in sync with the needs of businesses and households, there is no need to think that cryptocurrencies and other innovations will affect the Federal Reserve's monetary policy capabilities.
Meme Hot List
According to the meme token tracking and analysis platform GMGN, as of November 18, 09:00,
The top five popular tokens in ETH over the past 24 hours are: SHIB, LINK, PEPE, UNI, ONDO
The top five popular tokens in Solana over the past 24 hours are: TRUMP, PENGU, Fartcoin, ME, DOOD
The top five popular tokens in Base over the past 24 hours are: ZORA, VIRTUAL, B3, SLAP, TOSHI
What are some interesting articles worth reading in the past 24 hours?
Is building a Layer 2 public chain the ultimate strategy for Ethereum DAT to enhance mNAV?
With the continuous evolution of the "coin-stock integration" trend, a type of listed company known as "crypto asset treasury companies" is rising in the industry. Currently, the top three institutional holders have accumulated a total of 4.16 million ETH, forming a significant institutional force.
Zhao Changpeng's lawyer recounts the behind-the-scenes story of the "pardon"
Editor's note: On October 22, U.S. President Trump officially signed a pardon for CZ ------ see "Trump pardons Binance founder CZ: 13 months, from prison disaster to complete freedom[." However, there is still much information about the pardon itself that the public is not fully aware of.
On November 15, CZ's personal lawyer, Teresa Goody Guillén, a partner at the well-known law firm Baker Hostetler, was interviewed by Anthony Pompliano, founder of Morgan Creek. In the conversation with Pompliano, Teresa mentioned many previously undisclosed details regarding the accusations and the reasons and processes behind the pardon. CZ himself has also retweeted and liked Teresa's interview content.
Is 80% just hype? Six red flags to see the true intentions of Stable
Recently, Stable completed two rounds of substantial pre-deposit activities in a short time, with the first round of $825 million being quickly snapped up, and the second round of qualified subscription amounts exceeding $1.1 billion, attracting significant industry attention.
However, behind the impressive data, there are also backgrounds that need clarification. The project is driven by key figures from Tether, and USDT, as a native asset, naturally forms a strong binding; the pre-deposit amounts are highly concentrated among early institutions and insiders; and the time gap between the implementation of the "GENIUS Act" and the accelerated advancement of the project is too tight.
This article attempts to present a more complete picture beyond the hype: what fundamental infrastructure problems is it solving? Who benefits in the early stages? Where are the risks? And why is this issuance worth careful dissection beyond its surface?
Who moved the anchor of stablecoins? A review of major decoupling events over the years
Over the past five years, we have witnessed stablecoins decoupling in various scenarios.
From algorithms to high-leverage designs, and then to the chain reaction of real-world bank failures, stablecoins are undergoing repeated trust rebuilding.
In this article, we attempt to connect several landmark stablecoin decoupling events in the crypto industry from 2021 to 2025, analyze the reasons and impacts behind them, and explore the lessons these crises leave us.
Risk warning
Risk warning
