Bitget Daily Briefing (November 18) | Fidelity Solana Spot ETF Launches Tonight in the U.S. Eastern Market; Global Listed Companies Net Purchased Over $847 Million in BTC Last Week; Three Major U.S. Stock Indices Closed Lower

Today's Outlook

1. Fidelity Solana Spot ETF ($FSOL) will officially launch on the evening of November 18, 2025 in the Eastern US market, tracking the Fidelity Solana Reference Index and including SOL staking rewards;
2. Arthur Hayes: Bitcoin may first drop to $80,000 - $85,000 before surging to the $200,000 - $250,000 range by the end of the year;
3. The Sovereign Day event hosted by Cosmos & Interop Ventures will take place on November 18, 2025, at 20:00 in Buenos Aires, Argentina, discussing the reshaping of the global financial system by blockchain.

Macro & Hot Topics

1. SoSoValue data shows that global listed companies (excluding mining companies) net bought over $847 million in BTC last week, with Strategy (formerly MicroStrategy) increasing its holdings by $835.6 million for 8,178 BTC, bringing total holdings to 649,870 BTC;
2. VanEck Solana ETF (VSOL) has officially launched, promoting the mainstream financial adoption of Solana;
3. The White House is reviewing a Treasury proposal to strengthen IRS oversight of overseas crypto accounts and implement taxation, considering joining the OECD's Crypto Asset Reporting Framework (CARF);
4. Between November 17 and 24, over $297 million in tokens are set to unlock, with fluctuations in the circulation of projects like LayerZero (ZRO), YZY, and ZKsync worth noting.

Market Trends

1. BTC and ETH are maintaining short-term fluctuations, with approximately $814 million in liquidations across the network in the past 24 hours, including $531 million in long liquidations and $283 million in short liquidations;
2. The three major US stock indices collectively closed lower yesterday, with the tech sector leading the decline, putting pressure on global market sentiment;
   
3. Bitget's liquidation map shows that the current price of BTC/USDT is $91,708, with BTC in a dense liquidation zone; slight fluctuations could trigger leveraged liquidation events. A breakout above $93,000 could lead to a series of short liquidations, while a drop below $90,200 would trigger concentrated long liquidations.
   
4. In the past 24 hours, BTC spot inflows were $537 million, outflows were $675 million, resulting in a net outflow of $138 million;
   
5. In the past 24 hours, net outflows in contract trading for BTC, ETH, USDT, XRP, BNB, and other tokens lead the way, indicating potential trading opportunities.
   

News Updates

1. Japan's Financial Services Agency is considering including cryptocurrencies in the types of financial products subject to insider trading regulations and plans to lower the capital gains tax rate to 20%;
2. El Salvador has purchased an additional 1,090 Bitcoins, valued at approximately $100 million;
3. The Singapore Exchange (SGX) derivatives department announced it will launch BTC and ETH perpetual futures contracts on November 24;
4. The Chicago Board Options Exchange (CBOE) plans to launch Bitcoin and Ethereum continuous futures contracts on December 15.

Project Progress

1. Avalanche: The Granite upgrade will be activated on November 19 to enhance network efficiency;
2. Statistics: Global listed companies net bought $847.64 million in BTC last week;
3. SOL Strategies will provide staking services for VanEck's Solana ETF;
4. Merlin Chain (MERL) will unlock 36.14 million tokens on November 19, 2025, valued at approximately $12.49 million;
5. Vitalik has released a privacy-focused Ethereum framework "Kohaku";
6. Yala has released a liquidity event analysis report for the YU token and plans to finalize a recovery path and other clear plans by December 15;
7. ApeCoin: 15.38 million tokens were unlocked on November 17, valued at approximately $5.38 million;
8. Caldera: 7.22 million tokens were unlocked on November 17, valued at approximately $1.92 million;
9. Forward Industries: Deposited 1,443,507 SOL into Coinbase Prime, valued at approximately $201 million, unclear if for sale;
10. Bitcoin ETF saw a net outflow of 8,794 BTC yesterday, while the Ethereum ETF had a net outflow of 87,460 ETH during the same period.
    **Disclaimer: This report is generated by AI, with human verification for information only and does not constitute any investment advice.