Binance CEO Richard Teng stated that the recent decline in Bitcoin is a normal short-term pressure due to tightening macroeconomic conditions and a shift in sentiment regarding AI funding; the long-term logic remains intact. Binance co-founder He Yi said that volatility is part of the market maturation process. According to data from Binance Research, from November 11 to 14, a certain USD spot exchange had a net sale of 7,438 Bitcoins, while Binance had a net sale of 2,707 Bitcoins during the same period, a difference of 4,731 Bitcoins. The former's net sale volume was approximately 2.75 times that of Binance. Bitcoin is currently trading at approximately $65,300, down nearly 3% in the last 24 hours, having hit a low of $62,081 during Sunday's trading session. The U.S. spot Bitcoin ETF experienced net outflows of $1.91 billion over seven consecutive trading days from November 5th to 13th, including $1.065 billion in outflows from November 9th to 13th.

On November 16th, Jiang Zhuoer, founder of BTC.TOP, posted on X that he had closed all his positions in small-cap DeFi tokens that morning during a rebound, and had suspended trading to reassess the market. He stated that the losses were manageable, but the speed of this round of decline far exceeded expectations, and his medium-term predictions were seriously flawed. His remaining positions consist of 100% long Ethereum, 100% long Bitcoin, and 200% short Bitcoin. Jiang Zhuoer had previously considered $63,853 and $64,100 as support levels, and $61,576 as a failure line. Bitcoin hit a low of $62,081 on November 15, just $505 away from this line, before rebounding to around $65,400, still down nearly 14% in seven days; he indicated that $57,800 was the next conditional risk level. In the past 24 hours, a total of $1.96 billion in positions were liquidated across the entire network, including nearly $750 million in Bitcoin and approximately $600.5 million in long positions. The US spot Bitcoin ETF saw net outflows of approximately $1.91 billion over the seven consecutive trading days ending November 13th.

The US is investigating whether Nvidia illegally sold restricted AI chips to China. (Watcher.Guru)

Binance founder Changpeng Zhao stated that Binance has not sold any cryptocurrencies and that he himself has recently increased his holdings. Changpeng Zhao is optimistic about the medium- to long-term development of cryptocurrencies. (Watcher.Guru)

Since its launch, the perpetual stock contracts offered by the prediction market platform Kalshi have generated $5 billion in notional trading volume. Increased uncertainty surrounding the AI sector has fueled hedging demand, with traders turning to Kalshi's leveraged perpetual stock contracts, betting on tech giants like Nvidia and SpaceX. Kalshi launched its perpetual stock contracts on November 5th, initially covering 50 large-cap stocks. The contracts have no expiration date, with a maximum leverage of approximately 6.45 times. (Source: Bloomberg)