Renowned Analyst: Ethereum is entering the final consolidation phase, with a potential dip to the $3,400 range still on the table

On November 4th, based on Hyperinsight's monitoring, James Wynn began shorting Bitcoin at $116,000. Currently, his position size is $687,000. His 40x leveraged Bitcoin short position has now achieved unrealized gains of $50,000, and the current liquidation price is $111,350.

On November 4th, the voting page of Jupiter DAO indicates that the Jupiter community has approved the "Burning the Litterbox" governance proposal. This proposal aims to burn approximately 130 million JUP held in the "Litterbox Trust" (about 4% of the circulating supply).

On Tuesday, November 4th, the Bitcoin mining firm Mara Holdings announced a record profit. In the third quarter, it achieved a profit of $123 million. This was mainly driven by the increase in the price of Bitcoin during the quarter and the improvement in operational efficiency. As a result, the revenue grew by 92% to $252 million. This performance represents a turnaround for the company compared to a loss of $125 million a year ago. The company's performance has seen a significant improvement, benefiting from a 64% increase in hash rate and a reduction in electricity costs. The company mined 2,144 bitcoins in the third quarter and currently holds 53,250 bitcoins. At the current price, this is valued at nearly $5.6 billion.

On November 4th, the Office of Foreign Assets Control (OFAC) within the U.S. Department of the Treasury announced on the same day that it has imposed a new round of sanctions on multiple bankers, financial institutions, and related entities. It is accused that these entities are involved in laundering money for North Korea and transferring cryptocurrency obtained through cybercrime to fund its nuclear weapons program. The U.S. Treasury Department stated that in the past three years, North Korea has stolen more than $3 billion in digital assets through malicious software and social engineering attacks, surpassing the related behaviors of any other country. The sanctioned individuals include North Korean bankers Jang Kuk Chol and Ho Jong Son. They are accused of managing funds on behalf of the sanctioned First Credit Bank, including approximately $5.3 million in cryptocurrency. The Treasury Department pointed out that North Korea relies on a network of banks, shell companies, and finan

On November 4th, based on the U.S. Congress website, Ro Khanna, a congressman from California in the U.S., introduced a resolution on October 31st, which was numbered H.Res.849. This resolution calls for a ban on public officials engaging in cryptocurrency-related activities for personal gain and advocates for the establishment of a regulatory mechanism to prevent conflicts of interest and foreign influence. The resolution has been submitted to the House Financial Services Committee, the Committee on Oversight and Reform, the House Administration Committee, and the Judiciary Committee for review. The document emphasizes the need to enhance the transparency and regulation of politicians' digital asset activities in order to ensure the fairness of policy-making and public trust.