South Korea's KOSPI index dropped 5.6%, triggering the sell-side curb mechanism alongside KOSDAQ, with SK Hynix's slump widening to 10%.

Beating AI News Flash: Ricursive Intelligence, an AI company founded by former Google DeepMind researchers, has released the open-source model Ripple-65B Preview. The two founders previously led the AlphaChip project, which uses AI to automatically optimize Google TPU chip layouts. Ripple is a 65-billion-parameter dense model trained from scratch, utilizing 12 trillion tokens of training data and supporting a maximum context window of 1 million tokens. In the official Terminal-Bench 2.1 programming test, it scored 80.5%, slightly outperforming the 501-billion-parameter Reflection Beam (80.1%) and surpassing the 975-billion-parameter Inkling (63.8%). Ricursive stated that the entire model development cost only $32 million, with the team expanding from 1 to 5 members during development. The company improved training efficiency by refining model architecture, training data, and reinforcement learning methods. In control experiments with 4-billion-parameter models, the computing power required to achieve comparable code capability was reduced by approximately 16 times. Ripple’s model weights are now open-sourced under the Apache 2.0 license; after quantization, it is expected to occupy around 36–40GB, and can theoretically run locally on Mac devices with 64GB or more of memory.

CryptoBoost founder stated in a post that the current Bitcoin (BTC) bear market began on October 6, 2025, from its all-time high. As of publication, the bear market has lasted 396 days, slightly longer than the average 391 days it takes for a bear market to bottom out since 2014. Historically, BTC’s bear market drawdowns have been steeper: the 2014 bear saw a maximum drop of around 86%, 2018 around 84%, 2022 around 77%, while the current pullback is approximately 53% — relatively mild. The growing participation of institutional players including spot ETFs, corporations, and funds may strengthen the market’s holding structure, thus mitigating downside risk. BTC whales have been steadily accumulating since July. That said, a cycle hitting the historical average length does not signal the bear market is over; BTC must reclaim and hold above the $80,000–$82,000 range to further confirm a market trend shift. Against a backdrop of recent market moves — declines in U.S. tech and semiconductor sectors, capital rotating into bank stocks, the Dow Jones rising after the U.S. midterm elections, and falling oil prices — he noted Wall Street’s capital flows remain unclear, suggesting BTC may be nearing the tail end of its bear market cycle.

Multiple major U.S. media outlets projected that the Democratic Party secured a landslide victory in the U.S. midterm elections held on the 3rd, regaining control of both the Senate and House of Representatives. Elon Musk, who spent hundreds of millions of dollars backing Republican candidates, quietly deleted a campaign post after the polls closed. In a November 4 report, The Washington Post noted that on Election Day, Musk posted on social platform X urging voters to "Vote red today!" But by local time November 4, the post had been removed from his account. Earlier reports indicated Musk’s spending in this midterm election hit $474 million, setting a historical record for political expenditure by a non-candidate donor in a single election cycle. He not only used X to campaign for Republicans but also repeatedly attacked Democratic candidates publicly. However, the election outcome did not align with Musk’s expectations. (Global Times)

According to Lookonchain's monitoring, a certain address opened a 10x leveraged long position on LINK around 2 hours ago, with a position size of 450,000 LINK, valued at approximately $5.18 million.

According to GMGN market data, likely driven by Upbit’s upcoming listing of CARDS/KRW, CARDS/BTC, and CARDS/USDT trading pairs, Collector Crypt (CARDS) briefly hit $0.333, is now trading at $0.332, and has surged 30.48% in the last 15 minutes.

Someone opened a 10x long on 450,000 $LINK ($5.18M) 2 hours ago.