Both the Japanese and South Korean stock markets experienced significant declines today, with the Nikkei 225 Index dropping by 2.50%.

On November 5th, Arthur Hayes, the co-founder of BitMEX, posted a message saying, "Today, the Republican Party in the United States was completely defeated by the Democratic Party. It is time for Trump and Treasury Secretary Benson to restart the printing press in 2026 and distribute various benefits to prevent the Republican Party from suffering a crushing defeat in the November 2026 midterm elections. I hope you hold long positions in Bitcoin and ZEC." On Tuesday, the Democratic Party won the gubernatorial elections in Virginia and New Jersey, regaining political momentum. Voters' dissatisfaction with the economic conditions during Trump's second term may pave the way for the Democratic Party to gain control of Congress next year. Abigail Spanberger's easy victory in the Virginia gubernatorial race and Mikie Sherrill's win in New Jersey together form the most significant election victories for the Democratic Party since Trump returned to the White House.

On November 5th, the DeFi research and risk management company Gauntlet put forward a proposal on the Ethereum lending protocol Compound forum. The proposal was to implement a temporary emergency pause on the following standalone borrowing markets in Compound v3, namely: USDC on Ethereum, USDS on Ethereum, and USDT on Ethereum. Gauntlet stated that a liquidity crisis was noticed in Elixir's deUSD and sdeUSD, which are both listed as collateral in Ethereum USDC, USDS, and USDT. Gauntlet has proposed updating the risk parameters (Tally), but these proposals have not yet been approved by the governance council. Before the proposal is approved, Gauntlet suggests suspending withdrawals for the affected tokens. This implies that borrowing or withdrawing liquidity for Ethereum USDS, USDC, and USDT tokens in Compound v3 will be temporarily halted. Yesterday, Stream Finance disclosed a loss of $93 million in its fund assets, with Elixir having an exposure of $68 million due to the emergence o

On November 5th, according to AiYi Monitoring, Formula publicly revealed its Binance Spot Smart Yield earnings. The earnings of the two accounts ranked 4th and 6th respectively in the all-time Binance total earnings, with profits of $16.21 million and $11.18 million. The specific holdings of the accounts have not been made public.

On November 5th, Upbit is going to list the trading pairs of TRUST KRW, BTC, and USDT.

On November 5th, according to the on-chain AI analysis tool CoinBob (@CoinbobAI_bot), the smart money address recommended today begins with 0xcac. Recently, the whale has been continuously averaging down through spot BTC and ETH. It has opened short positions at the contract highs to hedge against mainstream coins in order to achieve stable profits. Currently, its total contract position size is approximately $35.23 million, with a total account unrealized profit of $9.9 million (about 502%). The weekly profit exceeds $5.6 million, and the monthly profit reaches $22.12 million. The maximum drawdown this week is only 3.7%. According to monitoring, the address's current major short positions are: 20x BTC worth $15.9 million, with an unrealized profit of $2.8 million (351%); 20x ETH worth $14.6 million, with an unrealized profit of $5.44 million (744%); 20x HYPE worth $4.12 million, with an unrealized profit of $1.43 million (346%). In the past six months, a total profit of $10.65 millio

On November 5th, the CryptoQuant analyst Axel released a post indicating that from a momentum standpoint, the market is about to commence an attempt at a rebound. Furthermore, a significant number of short positions have already accumulated, which may serve as a catalyst for the rebound. Technically speaking, the market is already in an oversold state. However, history has demonstrated that a recovery typically requires a period of consolidation. The deterioration of risk aversion is closely associated with the increasingly scarce market liquidity. The U.S. government shutdown has resulted in substantial budget cuts. Meanwhile, tax collection and debt issuance continue as usual. All of these factors have jointly led to a substantial contraction in the liquidity of the financial system.