Viewpoint: Bitcoin Lacks Buying Support Below $10,480

On November 5th, according to Coinglass data, if Bitcoin drops beneath $102,000, the cumulative long liquidation intensity on mainstream CEXs will reach $454 million. Conversely, if Bitcoin goes beyond $104,000, the cumulative short liquidation intensity on mainstream CEXs will reach $186 million. BlockBeats Note: The liquidation chart does not disclose the exact number of contracts to be liquidated or the precise value of the liquidated contracts. The bars on the liquidation chart actually represent the significance of each liquidation cluster in relation to adjacent clusters, that is, the intensity. Therefore, the liquidation chart shows to what degree the price of the underlying asset will be impacted when it reaches a certain position. A higher "liquidation bar" indicates that once the price reaches that point, it will experience a more pronounced reaction due to a liquidity cascade.

On November 5th, Berachain made an announcement that all the funds which were lost due to the BEX / Balancer v2 exploit (approximately $12.8 million) have been returned to the Berachain Foundation Deployer address. And the blockchain has resumed its operation. The minting and exchange function of HONEY has also been restored accordingly. However, all BEX functions are restricted, including exchanges, withdrawals, deposits, etc. For the stolen pool with a large number of individual depositors, the Berachain core team is currently developing a system that will return the deposits to their original addresses and distribute them to the users accordingly. The team reminds that depositors who were not attacked in BEX are temporarily unable to withdraw funds. This is a precautionary measure as the full cause of the Balancer exploit has not been determined yet.

On November 5th, according to HTX market data, Bitcoin witnessed another decline and touched $103,000. It is currently trading at $103,213, with a 1-hour price drop of 1.27%.

On November 5th, according to the monitoring of LookOnChain, in the past 14 hours, a shrewd whale named "ThisWillMakeYouLoveAgain" deposited 4.21 million USDT into Aster and purchased 4.6 million ASTER at an average price of approximately $0.915.
This whale had previously made a profit of $36.21 million on PEPE.

On November 5th, as per the monitoring of Onchain Lens, a whale transferred 3.5 million USDC into HyperLiquid and took short positions on BTC and ETH with a leverage of 20x.

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.