Solana's Bull Party Ends: Trendline Smashed, Fib Eyed

[Federal Reserve Governor Bowman: Significant banks may choose to participate in the digital asset sector] Federal Reserve Governor Bowman stated that significant banks can voluntarily engage in the digital asset sector. This remark indicates that the Federal Reserve maintains an open attitude toward traditional financial institutions exploring digital asset businesses but does not mandate banks to participate in the sector. Bowman's statement may further encourage banks to explore applications in digital currencies and blockchain technology, while also highlighting regulatory agencies' cautious support for financial innovation.

[U.S. Prosecutors Request 5-Year Prison Sentence for Samourai Wallet Founders] On November 4, U.S. prosecutors requested a 5-year prison sentence for the two founders of the privacy wallet Samourai Wallet, Keonne Rodriguez and William Lonergan Hill. Prosecutors accused them of operating an unregistered crypto mixing service for an extended period, facilitating the laundering of at least $237 million, including proceeds from drug transactions, darknet activities, hacking, and illegal content. Both individuals pleaded guilty in July and will be sentenced separately this week.

[Analysis suggests weak buy support for Bitcoin below $104,800] Analyst @ali_charts, based on Glassnode's Bitcoin UTXO realized price distribution chart, pointed out that below $104,800, the number of UTXOs (Unspent Transaction Outputs) supporting the price of Bitcoin is relatively low. This indicates weaker buying interest or lower holder concentration in the lower price range, which could impact price stability if the price drops to this level.

[Binance Founder Changpeng Zhao Says Market Fluctuations Are Unrelated to Him] Binance founder Changpeng Zhao stated that market fluctuations have nothing to do with him. He emphasized that although he tweets daily, there is no correlation with market movements.

[Sequans Sells 970 Bitcoins to Reduce Debt to $94.5 Million] U.S.-listed semiconductor company Sequans Communications (NYSE:SQNS) sold 970 bitcoins, reducing its total debt from $189 million to $94.5 million and redeeming 50% of its convertible bonds. The company now holds 2,264 bitcoins, with a net asset value of approximately $240 million. The debt-to-net asset value ratio has decreased from 55% to 39%. CEO Georges Karam stated that this transaction was a tactical decision aimed at unlocking shareholder value. The debt reduction is expected to strengthen the company's previously announced ADS buyback program.