Analysis: The average funding rate predicts continued consolidation, closely monitor the VIX index to guard against risk pressure

On November 13th, the DeFi project Hyperwave within the Hyperliquid ecosystem announced that due to a rare decline in the exchange rate, all withdrawals submitted since Saturday (November 8th) for its HLP Treasury Yield Farming Token hwHLP need to be resubmitted. You can submit support tickets either on the official Discord or within the app. Earlier today, an address suspected of "malicious manipulation" manipulated the POPCAT price on Hyperliquid, which led to a loss of $4.9 million for HLP.

On November 13th, a key signal emerged on the Bitcoin monthly chart. The analyst at BiyaPay pointed out that for the first time, the MACD on the BTC monthly chart showed a death cross signal. This usually indicates that the market has entered the "early bear market" stage. Although the price is still above $100,000, from a technical perspective, the slowdown in the monthly trend is obvious. The candle has broken below the short-term moving average, and the momentum bar has been consistently shrinking, suggesting exhaustion in the uptrend. The analyst stated that it is currently more appropriate to maintain a "bearish but not short" strategy. On the one hand, the early bear market often comes with repeated oscillations. Blindly going short can easily lead to a rapid pullback. On the other hand, there are still policy and liquidity variables in the medium to long term that have not been resolved, and there is a need for periodic rebounds in the market. For investors, BiyaPay recommends

On November 13th, KobeissiLetter presented an analysis of the US stock market. In the third quarter of 2025, the total quarterly options trading volume exceeded 3.5 billion contracts for the very first time, which is double the total options contract trading volume in the past 5 years. Previously, in the previous quarter, the participation rate of retail investors in the US stock market reached a record high of 55%. This indicates that retail investors now make up the majority of market trading. Since 2023, this percentage has gone up by 10 percentage points compared to a 5-year average of approximately 49%. At the same time, during last week's market decline, retail investor fund flows witnessed one of the largest buy-the-dip events ever witnessed, with retail investors playing a dominant role in the US stock options market.

On November 13th, based on Blur data, the floor price of the Infinex Patron NFT has exceeded 1.65 ETH, which is equivalent to approximately $5800, with a 24-hour increase of 15.39%. Infinex announced that it will soon carry out the TGE of the INX token, with 100% of the supply allocated to Patrons.

On November 13th, based on market data, the pre-market trading of US stocks related to the crypto sector showed a general upward trend. This included: Strategy (MSTR) increasing by 0.89%; Circle (CRCL) rising by 0.16%; Coinbase (COIN) going up by 0.92%; MARA Holdings (MARA) rising by 0.21%; Riot Platforms (RIOT) increasing by 0.26%; Bitmine Immersion (BMNR) surging by 2.19%; and SharpLink Gaming (SBET) climbing by 3.28%.

On November 13th, the Web3 AI Agent AgentLISA announced the successful completion of a $12 million financing round. This round was participated in by Redpoint Ventures, UOB Venture Management, Signum Capital, NGC Ventures, Hash Global, LongHash Ventures, M23 Capital, Kryptos, Fellows Fund, ByteTrade Lab, Summer Ventures, and Woori Ventures. The raised funds will be utilized to develop its AI agent security framework, with the aim of discovering complex multi-step vulnerabilities that are often overlooked by traditional scanners and manual audits.