Orama Labs Launches $5 Million Ecosystem Fund, Kingnet AI and ZENO Receive First Grants Incentive

On November 14th, based on official data and Ember Data, the current cost distribution of top cryptocurrency treasury companies is as follows: Strategy: Possesses 641,692 BTC with an average holding price of $74,085. The unrealized profit percentage is 31.67% compared to the current BTC price. Bitmine: Holds 3,505,000 ETH with an average holding price of $4,020. The unrealized loss percentage is 20.14% compared to the current ETH price. Forward Industries: Holds 6,871,599.06 SOL with an average holding price of $232.08. The unrealized loss percentage is 38.53% compared to the current SOL price.

On November 14th, Matrixport released today's market view indicating that Bitcoin has entered a bear market phase. The recent trend exhibits similarities to historical "mini bear market" phases in multiple aspects. In this market environment, it is particularly crucial to remain sensitive to key signals and implement strict risk management. Regarding funds and the macro environment, ETF inflows have decelerated, early and senior funds have reduced their positions, and there is a shortage of short-term macro catalysts. The subsequent trend still depends to a large extent on the future policy direction of the Federal Reserve. Currently, the market is at a critical juncture where multiple important structural price levels and macro trigger factors will determine whether the next move is a further downward exploration or the entry into a bottoming phase.

On November 14th, as per an official announcement, Binance will remove the COIN-M RUNEUSD perpetual contract and carry out automatic deleveraging at 09:00 (UTC) on November 19, 2025.

On November 14th, Hunter Horsley, the CEO of Bitwise, posted and stated, "What we are referring to is the four-year cycle - but in reality, this pattern is based on a bygone era of cryptocurrencies." Since the launch of the Bitcoin ETF and the appointment of a new management team, we have entered a new market structure: new participants, new dynamics, and new reasons for people to buy and sell. I believe it is highly likely that we have already gone through a nearly six-month bear market and are about to emerge from it. Currently, the development environment for cryptocurrencies has never been more favorable.

On November 14th, according to Coinglass data, in the event that Bitcoin rebounds and goes above $98,000, the cumulative short liquidation intensity on mainstream CEXs will reach $155 million. Conversely, if Bitcoin drops below $96,000, the cumulative long liquidation intensity on mainstream CEXs will reach $227 million. BlockBeats Note: The liquidation chart does not disclose the exact number of contracts to be liquidated or the precise value of the contracts being liquidated. The bars on the liquidation chart actually represent the significance of each liquidation cluster in relation to neighboring liquidation clusters, that is, the intensity. Therefore, the liquidation chart shows to what degree the price of the underlying asset will be influenced when it reaches a certain level. A higher "liquidation bar" indicates that the price will experience a more intense reaction due to a liquidity cascade once it reaches that level.

On November 14th, Raoul Pal, the co-founder and CEO of Real Vision, published an article discussing the post-reopening macroeconomic outlook for the United States government. It is expected that within a few days, the spending of the US Treasury General Account (TGA) will start to significantly increase market liquidity and will continue for several months. Quantitative tightening (QT) will come to an end in December, and the balance sheet will begin to gradually expand. This will be followed by the weakening of the US dollar once again. Raoul Pal stated that the next crucial step for policymakers is to avoid year-end funding strains. It is expected that several "temporary" measures will be implemented to increase liquidity. The most likely ones are term funding and Standing Repo Facility (SRF) operations. Debt needs to be extended, and the government hopes to avoid an overheated economy before the midterm elections. In short, a liqui