```html Binance CEO: The Cost of Emotional Trading Is High, Investors Should Tune Out Short-Term Noise ```

On November 18th, the on-chain data analyst Murphy announced on social media that the 7-day moving average of Bitcoin's Profitable Supply in Percentage (PSIP) has dropped below 70%. This indicates that after this round of decline, nearly 30% of the entire chain's chips are currently at a loss. If we exclude Bitcoin that has not been in motion for a long time, lost coins, and similar addresses like Satoshi's, this percentage is expected to reach over 40%. Murphy further pointed out that in the first round of decline from the bull market to the bear market over the past 10 years, PSIP has always reached its current position. Subsequently, there has been a rebound after extreme emotional pressure, as seen in 2018 and 2020. Especially in 2020, it was further aggravated by the March 519 Black Swan event. However, even if a rebound occurs, it may not be able to resume an upward trend because there are too many chips in the market waiting to exit during the rebound.

On November 18th, according to HTX market data, Bitcoin has shown a rebound and surged beyond $91,000. It is now trading at $91,082.

On November 18th, as per the monitoring of Onchain Lens, the Mt. Gox address made another deposit of 185.52 BTC to Kraken 7 minutes ago. The value of this deposit is $16.8 million.

According to official sources, DGRAM was launched on Binance Alpha on November 18th, with a reported market capitalization of $21.64 million.

On November 18th, according to Coinglass data, the current mainstream CEX and DEX funding rates show that after the recent one-sided sharp decline in the crypto market, although it hit a new low since the start of this round of decline earlier this morning, the overall bearish sentiment among participants has significantly weakened (almost all were negative funding rates on November 12th), and the funding rates of more asset trading pairs have returned to a neutral state. BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain the balance between contract prices and underlying asset prices. They are usually applied to perpetual contracts and serve as a mechanism for the exchange of funds between long and short traders. The trading platform does not charge this fee. It is used to adjust the cost or profit 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 r