Bitget Daily Briefing (November 21) | U.S. non-farm payrolls unexpectedly increased by 119,000 in September; BTC fell below $86,000, with approximately $834 million liquidated in the crypto market in 24 hours; OpenAI launches ChatGPT group chat feature for global users

Today's Outlook

1. Federal Reserve's Harker: The non-farm payroll report is "slightly outdated," but meets expectations;
2. Financial Times: The unexpected increase of 119,000 in the U.S. non-farm payrolls for September will complicate the Federal Reserve's interest rate decision;
3. Yesterday, the U.S. reported 220,000 initial jobless claims for the week ending November 15, with expectations of 230,000.

Macro & Hot Topics

1. Bitget data: The crypto market is generally down, with BTC falling 5.71% to below $86,000, and ETH down 7.46% to below $2,800;
2. Solid Intel: U.S. tech stocks have seen an average weekly outflow of $2.5 billion over the past four weeks, exceeding the 2021 record of about $800 million. The most recent week recorded a net sell-off of $1.6 billion.
3. The Block: According to a JPMorgan report, the recent pullback in the crypto market is primarily driven by non-crypto native retail investors, with approximately $4 billion flowing out of Bitcoin and Ethereum spot ETFs so far in November, surpassing the record set in February.

Market Trends

1. BTC and ETH have been in a 12-hour continuous decline, with extreme market panic, resulting in approximately $834 million in liquidations over 24 hours, including $722 million in long liquidations;
2. U.S. stocks closed lower on Thursday, with the Dow Jones down 0.84%, the S&P 500 down 1.55%, and the Nasdaq Composite down 2.15%. Nvidia (NVDA.O) fell 3.1%, after briefly rising 5% during the session, while Oracle (ORCL.N) dropped over 6%;
3. Bitget BTC/USDT liquidation map shows: BTC is currently priced at $86,010, with high leverage long liquidation zones concentrated around $85,400–$88,000. The current price of $86,010 is right in the middle of this range, making it susceptible to triggering consecutive long liquidations if it moves downward. Short liquidations are relatively mild in the $77,600–$83,000 range, while long liquidations in the $88,000–$95,000 range are rising quickly, indicating an overall leveraged structure that is heavily long, posing greater risks in the downward price direction.
   
4. In the past 24 hours, BTC spot inflows totaled $392 million, outflows were $472 million, resulting in a net outflow of $80 million.
   

News Updates

1. Argentine Congress report states President Milei provided "key assistance" in the LIBRA project;
2. OpenAI launches ChatGPT group chat feature for global users;
3. Bridgewater founder Ray Dalio: Bitcoin accounts for about 1% of personal investment portfolios, believes it is unlikely to become a reserve currency for major countries;
4. Market news: Polymarket plans to raise a new round of financing at a valuation of $12 billion.

Project Progress

1. Base co-founder and protocol head Jesse Pollak's creator token was targeted on the day of its launch, with 26% of the supply bought out for arbitrage, totaling $1.3 million;
2. Sign launches a Layer 2 solution for sovereign nations based on BNB Chain, supporting stablecoins and RWA on-chain;
3. MOVE repurchase tokens continue to flow back, with Movement transferring 50 million tokens to Binance;
4. The blockchain game Illuvium has deployed Staking v3 on the Base chain;
5. Bitmine has purchased an additional 17,242 ETH, valued at approximately $49.07 million;
6. The U.S. government has transferred seized assets from the FTX and Bitfinex hacking cases to a new wallet address, including: 15.13 million TRX, 545,000 FTT, 744,000 KNC, and 1,066 WETH;
7. The U.S. publicly listed company ANPA plans to purchase up to $50 million in EDU tokens within 24 months;
8. Bitcoin ETF saw a net inflow of 1,840 BTC yesterday, while Ethereum ETF had a net inflow of 12,986 ETH;
9. MegaETH will launch a pre-deposit cross-chain bridge on November 25, with a total cap of $250 million;
10. Aster: The total amount of ASTER repurchased has exceeded 155 million tokens, and the S3 airdrop will open for claims on December 15.
    **Disclaimer: This report is generated by AI, with human verification for information only, and does not constitute any investment advice.