Bitcoin Surges Above $96,000

On November 17th, according to Coinglass data, the current mainstream CEX and DEX funding rates show that after experiencing a one-sided sharp decline, the crypto market has shown a slight rebound today. The overall bearish sentiment among participants has weakened, and the funding rates for a larger number of asset trading pairs have returned to a neutral state. BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price. It is usually applicable to perpetual contracts and is a fund exchange mechanism between long and short traders. The trading platform does not charge this fee. It is used to adjust the cost or benefit of traders holding contracts to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less

On November 17th, according to an official announcement, Bitget has declared the launch of the PIEVERSE perpetual contract based on U, with leverage ranging from 1 to 25. At the same time, the contract trading BOT will be opened.

On November 17th, based on Nansen data, the top five public chains in terms of active addresses within the past 7 days are as follows: Solana (17.28 million), BNB Chain (10.88 million), Tron (7.082 million), Avalanche (5.425 million), and Polygon (3.879 million).

On November 17th, as reported by The Block, Bitcoin (BTC) has seen a decline of approximately 25% since reaching a new all-time high of around $126,000 on October 6th. According to analysts at the research and brokerage firm Bernstein, this indicates a short-term pullback rather than the onset of a major downtrend. Bernstein analyst Gautam Chhugani stated in a report to clients on Monday that this decline is a reflection of investors' anxiety regarding the historical four-year cycle pattern, which has witnessed peaks in 2013, 2017, and 2021. Many investors sold off during the market softness in the fourth quarter, believing that 2025 would witness a repeat, thereby somewhat creating a self-fulfilling prophecy. However, they believe that the current fundamentals are stronger, suggesting that this is more likely a "relatively modest pullback" forming a new local bottom rather than the 60% to 70% drops witnessed in historical cycles - due to significant absorption by long-term holder su

On November 17th, as per the monitoring of LookOnChain, a whale that had been holding a long position in ASTER for 38 days deposited 1 million USDC into Hyperliquid 2 hours ago in order to increase their long position in ASTER. Currently, they hold a 2x leveraged long position of 2.3 million ASTER (approximately $2.86 million).