Bitcoin falls below $78,000, with a 3.1% drop in the last 24 hours.

According to The New York Times, while Trump has signaled he is in no hurry to resume bombing operations, the possibility remains. In the past, some presidents, when suddenly facing "backup option" scenarios, often resorted to military action, in part to demonstrate to the public that their authority as commander-in-chief had not been weakened. In 2006, George W. Bush accelerated operations in Iraq after a historic midterm election defeat. Several former U.S. State Department diplomats, Pentagon officials, and military commanders with long-term Middle East experience say Trump may have painted himself into a corner. Pentagon officials and military commanders said Wednesday local time that thousands of U.S. Air Force and Navy personnel, deployed on over a dozen warships and at bases across the Middle East and the U.S., are ready to launch large-scale military operations against Iran again at Trump's order. Relevant officials disclosed that the U.S. and Israeli militaries have developed specific plans for a short but intense military operation, with targets likely to be Iran's energy infrastructure, nuclear facilities, and missile and drone weapons depots.

Binance has submitted a constitutional-level Arbitrum Improvement Proposal (AIP) draft on the Arbitrum forum, requesting the unfreezing of 8,425.997 ETH and 74,559,805.2 ARB previously frozen by the Arbitrum Security Committee, to be returned to its designated recovery address. The assets were frozen after Binance’s hot wallet was attacked on October 29; the Arbitrum Security Committee took emergency action on October 30 to freeze and transfer the funds to a dedicated address. The proposal specifies that the unfreezing will require an on-chain atomic operation identical to that used for the original freeze, with no additional funding requested from the DAO treasury. The process is expected to take approximately seven weeks or longer, encompassing forum discussions, a Snapshot indicative vote, and an on-chain vote.

According to data from the BIT stock platform, the Nasdaq 100 index’s decline has widened to 5.1%, while the S&P 500 index fell 2.8%. Both the S&P 500 and Nasdaq indexes have dropped to their lowest levels since late July, and both are set to log their largest single-day percentage drops in five months.

According to market sources, Microsoft has exited three NScale projects, with the data center delay linked to IREN’s site selection in Texas. Plagued by data center delays and cost issues, Microsoft has grown cold on the NeoClouds project while stepping up oversight of Nebius, IREN, and NScale.

According to data from the BIT stock platform, the US storage sector has continued to face selling pressure, with the Philadelphia Semiconductor Index falling 8.31%. On the individual stock front, SanDisk’s decline widened to 17.09%, Kioxia ADR dropped 15.20%, Micron Technology fell 12.57%, Western Digital fell 13.48%, Seagate Technology fell 13.43%, and SK Hynix fell 10.80%. The entire storage chip and hard disk industry chain suffered a broad-based slump.

According to data from the BIT Stock Platform, Nvidia fell 7.3%, marking its largest intraday drop since April 2025. The US stock market's fear gauge, the VIX volatility index, rose 40.0% intraday to 23.28. The S&P 500 extended losses to 2.4%. The Dow Jones Industrial Average dropped over 700 points, down more than 1.3%. The Nasdaq Composite plummeted over 1000 points, falling over 3.9%. The Nasdaq 100 index slumped 1300 points, down more than 4.5%. The semiconductor index fell approximately 900 points, a decline of 8.7%.