Opinion: Bitcoin Could See a 60% Correction if It Breaks Below the "Bull-Bear Line" 50-week Moving Average

Local time on the 3rd, Iranian authorities said no new progress has been made in the ongoing Iran-US talks. Separately, various Iranian figures have issued frequent statements, conveying Tehran’s hardline stance: "Iran will never surrender", "The US must respond fully and clearly to Iran’s seven proposed conditions and implement them before the Strait of Hormuz will be opened", "Iran is combat-ready and on the highest level of defense alert". On the same day, Qatari officials said the US and Iran are reviewing a proposal put forward by the mediator, with both sides remaining willing to continue negotiations, though differences remain to be bridged and no specific progress can be announced as yet. An informed source added that Qatari mediators are expected to receive feedback from Washington and Tehran on a new proposal within the next 36 hours. US President Donald Trump said he does not rule out taking military action against Iran after the midterm elections. (CCTV)

According to an official announcement, Coinbase announced that it will add CARD, the token of Solana-based physical trading card platform Collector Crypt, to its token listing roadmap.

According to a report from the UK's Financial Times, Trump stated that the United States currently has no immediate plans to strike Iran.

AMD’s third-quarter revenue rose 45% year-over-year to $13.38 billion, beating market expectations of $13.09 billion; adjusted earnings per share hit $2.09, exceeding the $1.95 forecast. Data center revenue grew 97% YoY to a record $8.55 billion, above the $8.2 billion estimate. Meanwhile, client and gaming segment revenue fell 8% YoY to $3.72 billion, missing the $3.79 billion projection. AMD CEO Lisa Su forecasts the company’s revenue will grow by more than 80% in 2027, outpacing the 77% consensus analyst estimate compiled by LSEG. She expects data center chips will contribute around 80% of next year’s revenue, driving most of the firm’s revenue and profit growth. AMD’s shares jumped more than 8% in after-hours trading. For the fourth quarter, AMD projects revenue of roughly $17 billion, above the $16.23 billion market forecast; adjusted gross margin is expected to be around 55%, roughly in line with the market’s 55.27% estimate, down from the third quarter’s 56%. On the product front, the Helios rack system equipped with MI455X accelerators and Venice server chips has entered mass production, with output set to expand in the fourth quarter; initial batches of the systems are currently being tested by Meta. In February this year, AMD and Meta struck a deal under which AMD will sell up to $60 billion in AI chips to Meta over five years, and the agreement also allows Meta to purchase up to 10% of AMD’s shares. According to data from BIT Stock Platform, following the earnings release, AMD’s after-hours gains once topped 9%, lifting chip stocks including NVIDIA and SK Hynix higher.

According to BIT stock platform data, U.S. stocks closed on Tuesday: the Dow Jones Industrial Average fell 0.38%, the S&P 500 rose 0.36%, and the Nasdaq gained 0.83%. Neocloud-related stocks rallied across the board, with Cipher Digital (CIFR) up 18.37%, Hut 8 (HUT) rising 15.90%, Galaxy Digital (GLXY) gaining 15.35%, TeraWulf (WULF) climbing 14.53%, Core Scientific (CORZ) up 13.87%, and IREN rising 11.08%. Most optical communication concept stocks moved higher: Credo (CRDO) rose 7.78%, Ciena (CIEN) gained 5.54%, Coherent (COHR) up 3.77%, and Broadcom (AVGO) climbed 3.07%. Storage stocks rallied across the board: SanDisk (SNDK) rose 4.78%, Western Digital (WDC) gained 2.59%, Micron Technology (MU) up 2.58%, Seagate Technology (STX) climbing 2.13%, and SK Hynix (SKHY) rising 2.09%. Semiconductor stocks strengthened in tandem, with AMD up 3.65%, Broadcom (AVGO) climbing 3.07%, Arm (ARM) rising 2.90%, NVIDIA (NVDA) gaining 2.29%, KLA (KLAC) up 2.02%, and Applied Materials (AMAT) rising 1.97%.

According to people familiar with the matter, Meta Platforms (META.O)’s U.S. dollar bond offering drew subscription orders of up to $58 billion, roughly four times its planned minimum issuance size of $15 billion. The overall cross-border financing volume is expected to reach at least $20 billion, and the company plans to launch its first euro-denominated bond as early as Wednesday. Despite strong demand, Meta still needs to offer higher yields to attract investors: its 2056-maturity bond carries a spread of around 2.2 percentage points over U.S. Treasuries, about 0.9 percentage points higher than similar bonds in April this year. AI investment expansion has driven up financing costs for tech giants; bond yield spreads for large tech firms have risen to their highest level since 2003, with some firms' credit default protection costs near record highs. Analysts expect AI investment by relevant companies to total $4.5 trillion over the next three years, with Meta’s portion exceeding $740 billion. Meta has also raised $37.5 billion via common and preferred stock offerings, and plans to issue up to an additional $60 billion in shares; S&P has cut its rating outlook to negative due to AI spending pressures.