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BiyaPay Analyst: Bitcoin Drops by Almost $100,000, US Stock Crypto Concept Stocks Experience Another Heavy Setback, Short ETF Surges

2 hours ago

November 7th: The price of Bitcoin fell once more and approached $100,000, dragging down the US stock cryptocurrency sector. The three major US stock indexes closed with declines: the Nasdaq -1.9%, the S&P 500 -1.12%, and the Dow Jones -0.84%. The bearish sentiment intensified, with the 2x short CRCL ETF rising by more than 24% and the 2x short COIN ETF rising by nearly 15%. Investors' risk aversion sentiment increased. BiyaPay supports USDT trading for US stocks, Hong Kong stocks, and futures, with zero fees for digital currency spot/contract trading, enabling you to flexibly navigate the market.
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Mining Pool and Hashrate Ecosystem Join Psy Protocol Testnet to Build Next-Generation PoW Smart Contract Platform

On November 7th, as per official channels, four globally prominent mining pools and hashrate ecologies, namely F2Pool, GrandCroix, DePIN X Capital, and Codestream, have officially become part of the Psy Protocol public testnet. They will engage in network operations, transaction validations, and zero-knowledge proof aggregations with actual hashrates, thereby providing fundamental support for performance and security testing prior to the mainnet's launch. During internal benchmark tests, Psy Protocol has verified its processing capacity to be over one million transactions per second (TPS). The protocol architecture assigns the task of generating transaction proofs to users' local devices, while miners verify and recursively aggregate zero-knowledge proofs, effectively decoupling the verification burden from the transaction scale. This design enables the network to scale horizontally as more users participate concurrently and empowers developers to build large-scale Web3 applications a

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The Trump family-affiliated mining company ABTC has increased its holdings by 139 bitcoins, bringing its strategic reserve to 4004 bitcoins.

On November 7th, according to The Wall Street Journal, the mining company American Bitcoin (ABTC) affiliated with the Trump family increased its holdings by 139 bitcoins as of October 24, 2025, and its strategic reserve reached 4004 bitcoins.

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Pre-market Crypto Stock Concept selloff in US stocks, Strategy down by 2.19%

On November 7th, based on market data, the pre-market trading of US stocks related to the crypto sector generally declined. These included: Circle (CRCL) decreased by 2.01%; Coinbase (COIN) decreased by 1.57%; MicroStrategy (MSTR) decreased by 2.19%; MARA Holdings (MARA) decreased by 2.2%; Riot Blockchain (RIOT) decreased by 2.54%; Bitmine Immersion (BMNR) decreased by 2.11%; SharpLink Gaming (SBET) decreased by 2.5%.

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Kazakhstan is establishing a National Cryptocurrency Mining Fund, with an anticipated size of $500 million to $1 billion.

On November 7th, according to Bloomberg, Kazakhstan is in the process of setting up a national cryptocurrency mining reserve fund. The expected size of this fund is between $500 million and $1 billion. A portion of the funding will be sourced from assets that have been seized overseas and repatriated. The governor of the Central Bank, Timur Suleimenov, stated that the investments of the fund will include ETFs and stocks of companies engaged in the cryptocurrency business. The fund will be extremely cautious when it comes to directly holding cryptocurrency. It is anticipated that the fund will officially launch and commence operations by the end of this year or in January of the next year.

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Bitcoin Falls Below $100,000, 24-hour Loss of 2.8%

On November 7th, based on HTX market data, Bitcoin has fallen below $100,000, with a 24-hour decline of 2.8%.

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「100% Win Rate Whale」 Adds to Short Position on ZEC, Liquidation Price Around $727

On November 7th, as per the monitoring of HyperInsight, the "Former 100% Win Rate Whale" augmented its short position in ZEC by a factor of 10 to reach $2.7 million. The average entry price was $627.7359, the liquidation price was $727.1056, and ZEC is currently trading at $610.

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