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Galaxy Research Director Alex Thorn stated that after Bitcoin closed above the 50-week moving average for seven consecutive weeks, it closed below that average this week. Historically, in two similar instances, it did not create new weekly closing lows in a bear market.

Global technology stocks continue to decline, pushing the hedge fund industry into a new round of adjustments. As artificial intelligence-related trades have significantly reversed, the global tech stock sell-off has severely impacted hedge funds, with some strategies seeing nearly zero returns this year. Several large funds have begun to reduce leverage and cut investment teams, raising market concerns that concentrated liquidations will further amplify volatility.Goldman Sachs data shows that stock long-short strategy funds primarily investing in tech stocks lost more than 4% in a single day on Thursday, bringing the year-to-date return of such strategies close to zero. In June of this year, the cumulative return of these funds once reached as high as 24%.This loss is not limited to tech investment strategies. Goldman Sachs data indicates that global fundamental stock long-short strategy funds averaged a decline of 1.3% on Thursday, while multi-strategy funds fell by 1.4%, reflecting that the selling pressure is spreading to broader investment portfolios.

According to Gate market data, Brent crude oil fell sharply by 5% during the day, currently priced at $98.52 per barrel. WTI crude oil is down 4.6% now.

Sequoia Capital published a long article titled "The Sequoia of Tomorrow" on X, introducing a series of adjustments made after completing the generational transition for one year.Sequoia stated that it will focus on high-confidence, highly selective venture capital, simplify the structure of the Sequoia Capital Fund, discontinue the batch accelerator Arc and Scouts projects, and streamline its operations and investment teams.Sequoia will no longer distinguish between "early-stage" and "growth-stage" teams, unifying them into one team; at the same time, it will close its London office, with some employees leaving, and will support European entrepreneurs from its headquarters in the San Francisco Bay Area in the future.In addition, Sequoia mentioned that it has flattened the partner structure, canceled the weekly partner meeting cycle, and has raised approximately $10 billion for a new fund. Currently, Sequoia is jointly held and operated by seven general partners, with a positive outlook on areas such as AI, space, biotechnology, and re-industrialization.

According to reports from the Financial Associated Press, the A-share market rebounded quickly in the afternoon, with the Sci-Tech 50 Index rising nearly 10% and the ChiNext Index rising over 6%. The semiconductor industry ETFs collectively rose, with the semiconductor ETF Bosera (159582) and the semiconductor equipment ETF CMB (561980) hitting the daily limit. The total transaction amount in the Shanghai and Shenzhen markets reached 2.04 trillion yuan, an increase of 334.3 billion yuan compared to the previous trading day. Over 4,600 stocks in the entire market rose, with more than a hundred stocks hitting the daily limit.On the market, the semiconductor industry chain rose, with Jingyi Equipment, Torens, Huafeng Measurement and Control, Qiangyi Co., and Jiangfeng Electronics hitting the daily limit of 20%. Northern Huachuang, Tongfu Microelectronics, and Jinhaitong also hit the daily limit. In the precious metals sector, Xiaocheng Technology hit the daily limit of 20%, while Shanjin International, Zhaojin Gold, Sichuan Gold, Chifeng Gold, and Shengda Resources also hit the daily limit. Innovative drugs and CRO concepts experienced fluctuations and rises, with Jinling Pharmaceutical, WuXi AppTec, and Kailai Ying hitting the daily limit. Computing hardware stocks rebounded in the afternoon, with New Yisheng, Zhongji Xuchuang, and Changguang Huaxin rising over 10%.Robotics and physical AI concepts performed actively, with Yongzhen Co. achieving two consecutive limits, while Fulai New Materials and Zhongma Transmission hit the daily limit, and Suochen Technology hit the daily limit of 20%. On the downside, stocks related to the "sheep" category collectively weakened, with Aoyang Health, Sunshine Lighting, Sunshine Dairy, and Baiyang Co. hitting the daily limit. By the close, the Shanghai Composite Index rose 2.16%, the Shenzhen Component Index rose 4.22%, and the ChiNext Index rose 6.4%.

Elon Musk retweeted Wall Street legend investor Stanley Druckenmiller's tweet about disclosing his investment in Trade.xyz, stating it was "interesting."ChainCatcher previously reported that renowned Wall Street investor and Chairman and Chief Investment Officer of Duquesne Family Office, Stan Druckenmiller (@standuquesne), posted his first tweet announcing that he has become an investor in Trade.xyz. Trade.xyz is collaborating with the Intercontinental Exchange (ICE) to introduce Hyperliquid-based round-the-clock perpetual futures in the United States. Stan Druckenmiller stated that as a market participant, he looks forward to using this product to improve the investment process.

According to reports from the Financial Associated Press, the three major indices of A-shares quickly fell back in the afternoon, with the ChiNext Index dropping over 3%, after previously rising more than 1%. The trading volume in the Shanghai and Shenzhen markets was 1.46 trillion yuan, a decrease of 147.8 billion yuan compared to the previous trading day, with over 4,900 stocks in the entire market declining.On the market, in the robotics sector, Duolun Technology, Saifutian, and Xiangyang Bearing achieved four consecutive trading limits, while Guangyang Co. achieved two consecutive trading limits, and Dayang Motor reached its daily limit. In the consumer sector, food and beverage and retail led the gains, with Guifaxiang, Sunshine Dairy, and Qingdao Food achieving two consecutive trading limits, and Maoye Commercial and Guangbai Co. reaching their daily limits. The banking sector strengthened during the day, with Shanghai Rural Commercial Bank rising over 4%, reaching a new high for the year, while China Construction Bank and Industrial and Commercial Bank of China set new historical highs.On the downside, the pharmaceutical sector weakened, with Lingkang Pharmaceutical and Wanze Co. hitting their daily limits, and stocks like Nearshore Protein and Shiyao Innovation experiencing significant declines. The edge-side AI concept saw fluctuations and adjustments, with Yidao Information hitting its daily limit, and companies like Xingchen Technology and Yiwei Communication also falling. By the close, the Shanghai Composite Index fell by 1.33%, the Shenzhen Component Index fell by 2.5%, and the ChiNext Index fell by 3.41%.

According to market news, a certain address contract account has accumulated earnings of approximately 21.89 million USD. It closed a short position in BTC with a value of about 10.04 million USD, with an average transaction price of 80,291 USD; subsequently, it opened a long position in BTC valued at approximately 11.97 million USD, with an average transaction price of 79,810 USD. Address: 0xbf732ea04197942783e34730ed6e0f6099575d58.

According to market news, a certain address traded BTC a total of 37 times from September 18, 2026, to October 21, 2026, with a win rate of 100%. From October 21, 2026, 07:02 to 16:50, it reduced its long positions and completed the closing, involving 104.81036 BTC, valued at approximately 8.6991 million USD based on the estimated price of the holdings.The weighted average transaction price for closing the BTC long positions was approximately 83,068.3 USD, while the weighted average transaction price for opening was approximately 82,971.69 USD. Address: 0xf517639a8872e756ac98d3c65507d2ebc25cc032; Total profit and loss: 476,300 USD (sample as of 2026-10-21 02:02) BTC trading rounds: 37; Win rate: 100% Statistical period: September 18, 2026, to October 21, 2026.

The dollar index, which measures the dollar against six major currencies, fell by 0.27%, closing at 101.701 in the forex market. 1 euro exchanges for 1.1237 dollars, 1 pound exchanges for 1.3383 dollars, 1 dollar exchanges for 158.2 yen, 0.8248 Swiss francs, 1.4057 Canadian dollars, and 9.8979 Swedish kronor.

According to market news, a certain address contract account has accumulated earnings of over 20 million USD, closing approximately 14.62 million USD ETH long positions on October 17, 2026, at 00:41.The address previously held about 14.67 million USD ETH long positions, which have now all been closed, with a closing profit of approximately 469,000 USD. Address: 0xbf732ea04197942783e34730ed6e0f6099575d58.

According to Gate market data, the New York silver futures fell 5% intraday, currently reported at 56.54 USD/ounce.

David Hoffman, the founder of the crypto media Bankless, stated in a post on X that if Bitcoin's daily closing price surpasses 86,600 USD, it will release a strong signal; if it further surpasses 87,400 USD, it will be an extremely bullish signal.

Bitcoin News posted on the X platform stating that Blink claims all account balances affected by the security incident have been restored to pre-incident levels. The software vulnerability had allowed attackers to transfer funds from dozens of accounts and obtain account information for approximately 3,400 other users.Blink stated that no funds were stolen from these 3,400 accounts, and the attackers did not obtain users' names, identification documents, or addresses; the company has contacted the affected users and will release a complete incident review.

Stimulated by the new exemption policy for tokenized stocks introduced by the U.S. SEC last night, the related beneficiary concept coins and stocks continue to rise.According to Gate market data, UNI is currently priced at $7.86, with a 24-hour increase of 18%; ONDO is priced at $0.3779, with a 24-hour increase of 7.39%; BP is currently priced at $0.533, with a 24-hour increase of 14.48%.Additionally, according to Gate market data, in terms of stocks, Securitize closed up 14.93%, priced at $8.93, and Robinhood rose by 5.16%.

According to MTS, there are rumors that several leading AI laboratories have used models to provide solutions to multiple long-standing major mathematical problems. However, following the controversy surrounding the results related to Navier-Stokes, these institutions have chosen to temporarily withhold the publication of relevant results.

According to Forbes, Patrick Witt, the executive director of the Digital Asset Advisory Committee of President Trump, told Semafor that the window of opportunity for the Clarity Act is closing, and if the procedural vote next week fails, "no one can say when the bill will have another chance."Witt stated that a failed motion vote will not yield the desired results for anyone and called for bipartisan support for the bill: "Join this bill, and let's continue the conversation." The bill is scheduled for a procedural vote on September 15.

On August 21, MEXC Ventures held the Day 3 Helicopter Trip and Closing Gathering during CoinFest 2026 in Bali. The event invited 32 KOLs and industry guests to participate in a 50-minute helicopter experience, overlooking the southern coast of Bali and the main venue of CoinFest from the air.Later that day, 100 participants, partners, and industry professionals attended the Closing Gathering. MEXC CEO Vugar and MEXC Product Director Vivien shared observations on structural opportunities in the primary and secondary markets during the MEXC Alpha Insights session, and introduced the strategic direction of MEXC Ventures for the upcoming quarters. According to the organizers, this event aimed to provide a platform for CoinFest participants to exchange industry views and establish collaborative connections.

According to Glassnode, the last time Bitcoin experienced such a significant daily closing increase was in February of this year, primarily as a rebound from the previous day's 14% drop. This rise is not due to a technical rebound following a crash; relative to its 30-day volatility, this increase reached 5.8 standard deviations, marking the largest upward volatility since October 2023.