Arthur Hayes: The Bottom is Near, But Don't Rush to Buy the Dip

On November 21st, as per the monitoring of LookOnChain, the "Whale Insider who shorted during the 11/11 crash" has made a deposit of 665.9 BTC into Binance within the past three hours. The value of this deposit is $55.18 million.

On November 21st, based on market data, after a slight opening rally, the intraday NASDAQ turned down by 0.2% and fell below 22,000 points. US stock crypto concept stocks were all under pressure, including: Strategy (MSTR) with a decline of 2.35%; Coinbase (COIN) down by 1.6%; MARA Holdings (MARA) with a decrease of 2.88%; Riot Blockchain (RIOT) down by 3.91%; Bit Digital Inc. (BTBT) down by 4.5%; SharpLink Gaming (SBET) down by 3.55%.

On November 21st, according to Defilama data, significant volatility was observed in today's market. The trading volume of mainstream Perp DEX continued to rise, resulting in an increase in protocol revenue. Hyperliquid ranked first with a 24-hour protocol revenue of $4.24 million, which was a 13.3% increase from the previous day. In the past 7 days, its total protocol revenue was $23.76 million, and the annualized protocol revenue was $11.88 billion. Aster followed closely with a 24-hour protocol revenue of $3.17 million, a 30% increase from the previous day. Its total protocol revenue in the past 7 days was $13.98 million, and the annualized protocol revenue was $6.95 billion. EdgeX had a 24-hour protocol revenue of $1.98 million, a 5% increase from the previous day. The total protocol revenue in the past 7 days was $7.28 million, and the annualized protocol revenue was $5.92 billion. Lighter's 24-hour protocol revenue was $1.20 million, a 9% increase from the previous day. The total

On November 21st, as monitored by EmberCN, Arthur Hayes, the co-founder of BitMEX, transferred another 19.872 million BIO (equivalent to 1.2 million USD) to Binance just 1 hour ago. This evening, Arthur Hayes deposited 7.66 million BIO into Binance, which is approximately worth 46,000 USD. In this investment, Arthur Hayes has suffered a loss of 64,000 USD, with a loss rate of 58%.

On November 21st, the final value of the November University of Michigan Consumer Sentiment Index in the United States came in at 51. The expected value was 50.5 and the previous value was 50.3. (Forex)

On November 21st, Michael Saylor gave a response regarding the risk that the global financial index company MSCI might remove Strategy (MSTR) from its stock index. Strategy is not a fund, nor a trust, nor a holding company. It is a publicly traded operating company with a software business worth $500 million. At the same time, it is implementing a unique treasury strategy by using Bitcoin as productive capital. This year, it has already completed five public issuances of digital debt securities, namely STRK, STRF, STRD, $TRC, and STRE, with a total notional value exceeding $7.7 billion. It has also launched Stretch (STRC), a revolutionary Bitcoin-backed treasury credit instrument, which provides variable monthly US dollar yield to institutional and retail investors. In contrast, funds and trusts merely passively hold assets. Strategy is the creator, structurer, issuer, and operator. The team is building a new type of enterprise - a Bitcoin-backed structured finance company, which is c