alon

Bitcoin rose to about $74,935 during the Asian session, up 0.7% in the last 24 hours and 5.4% for the week. However, the derivatives market is sending mixed signals. Institutional firm QCP Capital pointed out that this round of increase is mainly driven by spot trading, rather than a broad recovery in risk appetite.Currently, the funding rate for Bitcoin perpetual contracts remains negative, and open interest has decreased, indicating that short sellers are still increasing hedges rather than passively closing positions. The options market is also leaning towards caution: short-term implied volatility is sluggish, with one-month volatility lower than three-month volatility, and the risk reversal indicator shows that the market's demand for downside protection is higher than for upside bets, indicating that traders are more inclined to pay for potential declines rather than chase upward movements. QCP believes this is more of a "bounce" rather than a trend reversal.On a macro level, long-term U.S. Treasury yields and gold prices have not confirmed a recovery in risk appetite, with gold still near high levels, indicating that safe-haven demand remains. Institutions point out that the current market is more driven by expectations of a ceasefire and "emotional repair," rather than a core risk being alleviated. Additionally, Ethereum has shown relatively strong performance, with the ETH/BTC ratio rising to about 0.0315, combined with on-chain transaction volumes and stablecoin supply reaching all-time highs, indicating signs of capital rotating towards high β assets. However, the market still needs to observe the evolution of subsequent risk events to confirm the sustainability of this round of increase.

According to QCP Group analysis, BTC followed the overnight rebound of risk assets, rising to the mid-range of $74,000, triggered by the news of a preliminary framework agreement between the U.S. and Iran. However, long-term yields remained almost unchanged, gold maintained high levels, and the bond market did not follow suit, indicating that this rebound is merely a relief from headline risks rather than a substantive geopolitical resolution.The core contradiction lies in the uranium enrichment issue—Iran is currently enriching at 60%, while the U.S. demands a reduction to below 20%. Iran has yet to signal any compromise, and this issue has been unresolved since 2015. In terms of market structure, BTC spot is slowly rising against a backdrop of negative funding rates and low open interest, showing that shorts are still resisting and pushing for a short squeeze, but the options market has failed to confirm a breakout—short-term ATM volatility remains around 40, and one-month volatility is still lower than three-month volatility, with demand for downside protection still stronger than the willingness to chase upside.On the macro level, the Federal Reserve's net rate cut space for this year is close to zero, and liquidity conditions remain tight. QCP believes that this round of market activity is essentially a geopolitical-driven relief rebound rather than a fundamental shift in the macro landscape, and the market needs to be wary of the risk of a pullback after the rebound.

Pendle co-founder @tn_pendle met with the Deputy Prime Minister of Vietnam last week in New York along with Deutsche Bank, Morgan Stanley, BlackRock, Franklin Templeton, and Anchorage Digital to advocate for the construction of Vietnam's international financial center.During the talks, Pendle co-founder @tn_pendle discussed Vietnam's potential as a market for tokenized bonds, ETFs, and private credit, and strongly promoted the deep talent pool that Vietnam possesses.

According to official news, the new stablecoin blockchain Tempo, incubated by Stripe and Paradigm, has announced its mainnet launch, aiming to achieve instant settlement, predictable low fees, high throughput, and global availability. Users can build on Tempo through public RPC endpoints.In addition to the mainnet launch, Tempo has also introduced the Machine Payment Protocol (MPP), an open standard for machine payments co-developed by Stripe and Tempo.

According to Jinshi reports, U.S. President Trump stated that many countries will send warships alongside the United States to keep the Strait of Hormuz open. He hopes that countries such as France, Japan, South Korea, and the United Kingdom will send warships to the area, so that the Strait of Hormuz no longer poses a threat. The U.S. will heavily bomb the coastal areas of Iran and continuously sink Iranian ships. In any case, we will soon open up the Strait of Hormuz.

Ethereum co-founder Vitalik Buterin elaborated on his latest views regarding the integration of Ethereum and artificial intelligence. He pointed out that the ideal future of artificial intelligence should achieve two core goals: first, to enhance human freedom and empowerment, avoiding the replacement of humans by AI or entrapment in insurmountable power structures; second, to ensure system security, mitigating existential risks posed by superintelligence and chaotic scenarios resulting from imbalances in offense and defense.Around this vision, he proposed four key short-term building directions and emphasized that Ethereum will play an important role in them:Build technological tools that support trustless and private interactions, including local large language models, zero-knowledge proof-based API payments, cryptography-driven privacy enhancement solutions, and client-side verification mechanisms for various proofs and certifications.Establish Ethereum as the economic coordination layer for AI-related interactions, supporting scenarios such as API calls, employment and collaboration between autonomous robots, margin mechanisms, and potential future on-chain dispute resolution systems and AI reputation frameworks.Promote the realization of the cypherpunk vision of "self-verification," enabling users to interact directly with Ethereum applications through local models, autonomously generate and verify transactions, complete smart contract audits, and independently assess the trust models of decentralized applications.Leverage artificial intelligence to expand the scale of human judgment and collaboration, activating complex mechanisms such as prediction markets, decentralized governance, and quadratic voting, to build a more efficient and inclusive market and governance ecosystem.Vitalik concluded that the aforementioned directions reflect the idea of achieving decentralized collaboration and system resilience through technology, and combined with AI and cryptographic techniques, they are expected to push social and economic designs, previously limited by human cognitive and coordination capabilities, towards reality.

According to Jinshi News, Rushabh Amin, portfolio manager of Allspring's Global Investment Multi-Asset Solutions team, pointed out in a research report that the current target range of 3.5% - 3.75% for the federal funds rate set by the Federal Reserve is very close to neutral levels and will not further exacerbate inflationary pressures.He expects that the market's focus will gradually shift to the appointment of the next Federal Reserve chair, with investors generally anticipating that the new chair may be more inclined to cut interest rates. The current market widely expects that the Federal Reserve will maintain interest rates at this week's monetary policy meeting.

According to Jinshi reports, the People's Bank of China held a press conference to interpret the "Opinions on Financial Support for Accelerating the Construction of the New Land-Sea Corridor in the West." At the meeting, Wang Xin, Director of the Research Bureau of the People's Bank of China, stated that the "Opinions" grasp new trends in international cooperation such as digital finance and green finance, and innovate to promote high-level financial openness in the central and western regions.For example, support provinces and cities along the corridor to participate in the multilateral central bank digital currency bridge project, and promote the use of central bank digital currency in cross-border payments; support strengthening cooperation in areas such as the formulation and application of green finance standards, green financial products, and financial support for green technology, relying on the China-Singapore Green Finance Working Group mechanism.

According to financefeeds, BlackRock, the world's largest asset management company, has made a decisive statement, officially recognizing Bitcoin as the most important investment theme of 2025. This move solidifies the institutional narrative of the current market cycle.The head of the company's iShares division proposed a strategy at the meeting that positions Bitcoin alongside U.S. Treasuries and the "Tech Giants" stocks as the three pillars of a modern diversified investment portfolio. This recognition marks a significant evolution in BlackRock's stance—from initial tentative involvement to deeply integrating digital assets into its core macroeconomic worldview. Its core philosophy is no longer merely to "provide access" to speculative assets but to acknowledge Bitcoin as a fundamental component of the global monetary system's infrastructure.BlackRock's 2025 argument is built on the "macro mirror" thesis, which suggests that Bitcoin's performance increasingly reflects global concerns about sovereign debt and currency devaluation. As the U.S. federal deficit continues to widen and global fiscal imbalances worsen, BlackRock analysts believe institutional investors are seeking "non-correlated" assets that exist outside the traditional banking system.By positioning Bitcoin as "digital gold," BlackRock provides conservative asset allocators with the necessary theoretical framework to justify their large holdings. This shift is expected to culminate in 2026 with the launch of complex "yield-bearing" products, such as Bitcoin premium income ETFs designed to generate returns through covered call strategies.By offering these tools, BlackRock is shifting the market discussion from "why hold Bitcoin" to "how to optimize Bitcoin positions," thereby solidifying its role as a key gatekeeper of the next generation of digital capital.

Investor Xue Manzi recalled the development history of Binance in a post on platform X. The article mentioned, "In June 2014, CZ met He Yi (then co-founder and marketing director of OKCoin) for the first time at a blockchain sharing session in Shanghai. It is said that the two talked for 10 hours, discussing everything from Bitcoin philosophy to exchange operations. He Yi invited CZ to join OKCoin Global as CTO."In response, CZ commented (in the article), "There are quite a few inaccuracies in the details, but I won't go into all of them. When I first met He Yi, I just said hello and we didn't talk anymore, let alone for 10 hours."

Tether CEO Paolo Ardoino responded to the Tether FUD by stating in a recent announcement (Q3 2025): Tether will continue to maintain a multi-billion dollar excess reserve buffer, with total group equity nearing $30 billion. As of the end of Q3 2025, Tether has approximately $7 billion in excess equity and about $23 billion in retained earnings, as part of Tether Group's equity.Tether Group's total assets are approximately $215 billion, with stablecoin liabilities around $184.5 billion. S&P made the same mistake in their analysis: they did not consider the additional group equity, nor did they account for the approximately $500 million in monthly base profit that could be generated solely from U.S. Treasury yields.

AI infrastructure Mira announced the launch of the micro-agent Aven, which can automatically purchase items on-chain with a single reply. It is built on the x402 open standard and Mira Network's trust API. In the first public demonstration, Mira provided Aven with a managed wallet worth $2,000, and Aven will operate autonomously with these funds. After 24 hours, it will purchase Pokémon card packs through the x402 platform and airdrop NFT card packs worth a total of $2,000 to 40 lucky users.

Bitget launches a new round of contract new coin and CandyBomb dual activities. During the KITE contract new coin event, completing specified trading tasks will unlock USDT airdrops. This event features a "Newcomer Leaderboard" and a "Ranking Competition," with a total prize pool of 30,000 USDT. The event ends on November 11 at 18:00 (UTC+8).In addition, you can also participate in the CandyBomb event for KITE and PLAI, where completing specific contract trading volume tasks unlocks airdrop rewards. Individuals can earn up to 1,400 KITE and 1,666 PLAI. The event ends on November 11 at 16:00 and 20:00 (UTC+8). Detailed rules have been published on the Bitget official platform. Users can click the "Join Now" button to complete registration and participate in the event.

ChainCatcher news, Bitwise Investment Company's CIO Matt Hougan confirmed that Polymarket has become an important institutional data source alongside Bloomberg.According to Ryan Rasmussen, Polymarket was cited twice within just 20 minutes of the start of a $50 billion RIA investment committee meeting.

ChainCatcher news, Canaan Inc. announced the signing of a 4.5MW contract in Japan to deploy its Avalon water-cooled Bitcoin miners for real-time grid balancing and energy optimization.The facility, led by a large regional utility company, will use Canaan's intelligent control chips to dynamically adjust voltage, frequency, and computing power to help stabilize the grid and improve efficiency, with completion expected by the end of 2025.

ChainCatcher news, RootData has recently been rated as an A++ level product by the crypto research KOL, attracting widespread attention in the industry. In the "Crypto Research Hubs & Media" 2025 graded list released by @the_tradeguru, RootData received the highest rating of A (A++), emphasizing its professional capabilities in data visualization, macro research, and on-chain data interpretation, and is listed alongside top research institutions such as Binance Research, Kaiko, The Block, and Coinbase Institute.The Tradeguru has been well-known in the industry for its systematic tool product grading reviews, with previous lists focusing on crypto research, data analysis, and information platforms, sparking user resonance and discussions.