HTX Research's Andy appeared as a guest on the HTX Expert Lecture Series: For Q3, BTC's direction hinges on liquidity, while ETH's direction hinges on regulation.

Crypto analyst Willy Woo has published a post stating that Bitcoin is significantly decoupling from the U.S. stock market, with the last instance of such a high degree of decoupling occurring in 2015 — the prelude to Bitcoin’s 2017 bull run. In 2014, the stock market remained in a bull market, while BTC experienced a bear market unrelated to stock market trends. From 2015 to 2016, the stock market fluctuated weakly for two consecutive years, yet BTC entered a bull market; then in 2017, when the stock market also turned bullish, BTC surged even more sharply. Willy Woo believes the current market landscape mirrors that period: Bitcoin’s liquidity is continuing to strengthen, while the stock market is starting to show signs of fragility.

According to GMGN market data, the new meme coin BEN on the BSC chain hit a market cap of $9 million within two hours of its launch, and is now trading at $8.2 million with a trading volume of $20.8 million. The meme coin is paired with the tokenized US stock QQQ (Invesco QQQ Trust, which tracks the Nasdaq 100 Index) on BSC. BlockBeats reminds users that prices of related tokens are highly volatile, so they should exercise caution when investing.

Per DefiLlama data, Pons and Fomo generated approximately $1.85 million and $1.77 million in revenue over the past 24 hours, respectively, both surpassing Hyperliquid’s roughly $866,500. Currently, Pons ranks 5th and Fomo 6th on the crypto protocol revenue leaderboard, while Hyperliquid holds the 9th position.

According to TradingBeats monitoring, as HYPE breaks above $88, the largest HYPE long address on Hyperliquid—0x082e...ca88—currently holds approximately 1.38 million HYPE long positions, with a position value of around $122 million, an average entry price of $38.68, and an unrealized profit of roughly $68.62 million, using 5x full leverage. The address opened a HYPE long position worth about $40 million with 5x leverage roughly 5 hours before Robinhood announced the listing of HYPE spot on October 23, 2025. Due to the extremely precise timing of its heavy entry, the community suspected it had access to non-public information, earning it the nickname "HYPE Listing Insider Whale". Between December 5 and 6 of the same year, the address added approximately 93,500 HYPE to its position in the $31-$32 range, eventually growing its holdings to around 1.38 million HYPE, and has held the contract positions ever since. The address has so far paid $5.42 million in funding fees for its long positions.

According to HTX market data, HYPE has rallied past $88, hitting a new all-time high. It is currently trading at $88.5, with a 24-hour gain of 4.21%.

According to TradingBeats monitoring, the address linked to "Big Brother Ma Ji" currently holds approximately $146 million in BTC and ETH long positions, with a combined unrealized profit of around $2.56 million. The account has a net asset value of roughly $9.139 million and an overall leverage ratio of about 15.95x. Its ETH holdings consist of 25x fully leveraged long positions totaling 39,325 coins, valued at approximately $98.39 million, with an average entry price of $2,444.83, current unrealized profit of around $2.25 million, and a liquidation price of $2,331.21. Its BTC holdings are 40x fully leveraged long positions totaling 593 coins, valued at roughly $47.39 million, with an average entry price of $79,384.2, current unrealized profit of about $310,000, and a liquidation price of $68,731.5.