Analyst: Bitcoin Short-Term Holders Selling at a Loss, Market Still Under Pressure

Hyperliquid’s second AQAv2 reserve revenue distribution is scheduled for November 3, totaling approximately 15.3 million USDC, which may provide the Assistance Fund with new "ammunition" for HYPE repurchases.

Meta Platforms (META.O) held a conference call to discuss issuing US dollar and euro bonds in tranches.

Brazilian cryptocurrency exchange Mercado Bitcoin suspended deposits and withdrawals on Monday local time, after wallets linked to the platform were drained across at least 10 blockchains, with multiple security firms estimating losses exceeding $40 million. Monitoring shared by Opsek founder Pablo Sabbatella shows the largest outflow occurred between 06:19–06:53 UTC, involving Ethereum, Solana, Tron, Polygon, Arbitrum, Avalanche, BSC, Stellar and other chains. The attacker’s address now holds roughly 2,852 ETH, 106 BTC, 10,700 SOL, 6.7 million XLM, 77,000 AVAX, plus over 200 other tokens. The transfers were regular transactions, not smart contract exploits; how attackers obtained signing permissions remains unclear. Mercado Bitcoin stated in an X post that it had “identified and swiftly contained” the security incident, noting customers were unharmed, no data breach occurred, and the deposit/withdrawal suspension was a preventive measure. The platform is tracking the assets and cooperating with authorities, and later published target addresses on EVM, Bitcoin, Solana, Stellar, Tron and other chains for tracking purposes. Tether founder Paolo Ardoino confirmed that approximately $4.5 million in USDT linked to the incident has been frozen. There is currently no public evidence linking this event to the recent Binance hack.

Liquid Capital founder Yi Lihua stated in a post that the short-term crypto market has withstood this black swan event. Regarding midterm election expectations, if Republicans lose both congressional chambers, securing at least one would be positive. Additionally, US Treasury rates have already peaked, leading to significant market divergence at current levels. Many are discussing an AI bubble, but AI demand is real—this is entirely different from the dot-com bubble. A short adjustment period after overheating is normal, and we are nowhere near a full-scale bubble.

Oct 26–Nov 1, 2026 #LookonchainWeeklyReport ?? Overview Stablecoin supply fell by $4.53B last week, DEX spot volume rebounded and perp volume rebounded, while public companies added 1,462 BTC. ?? Stablecoin Market The total stablecoin market cap decreased by $4.53B. ?? Spot &

According to data from the BIT Stock Platform, the three major U.S. stock indexes rose during intraday trading: the Dow Jones Industrial Average gained over 1%, the S&P 500 rose around 1%, and the Nasdaq increased by approximately 1.1%. Optical communications leader Lumentum (LITE) fell more than 10%, Marvell (MRVL) dropped over 5%, while SpaceX (SPCX) gained nearly 4.7%. In the storage sector, SK Hynix’s U.S. ADR (SKHY) rose nearly 4%, and Seagate (STX) fell nearly 3.5%. Crypto-related stocks saw Strategy (MSTR) rise nearly 3.9%, Circle (CRCL) gain around 3.5%, and BitMine (BMNR) increase by approximately 3%. The CBOE Volatility Index (VIX) fell nearly 6.8% to around 18.1.