Hut 8 transfers 1,617 $BTC ($121.43M) in potential sale move

Hyperliquid L2 network Elysium announced in a post that it has partnered with OpenSea to launch 8,888 commemorative NFTs, with all minting now completed.

According to Lookonchain monitoring, Hut 8 transferred 1,617 BTC roughly two hours ago, worth approximately $121.43 million. In October this year, Hut 8 sold 2,148 BTC, cashing out around $175.4 million at an average price of roughly $81,657, and used the proceeds for stock repurchases.

US October CPI inflation report is set to release at 21:30 Beijing time, but it will not include year-over-year (YoY) CPI and core CPI data. The issue stems from the 2025 US government shutdown, during which staff failed to collect October 2025 price data, leaving no reference base for this year. As a result, the US Bureau of Labor Statistics cannot calculate the YoY figures, forcing markets to rely on month-over-month (MoM) data to assess inflation. Economists forecast that US October 2026 CPI will rise 0.3% MoM, while core CPI will increase 0.2% MoM, with both growth rates cooling.

According to official announcements, due to the 1-for-2 reverse stock split of ProShares Bitcoin ETF (BITO), Binance Futures will adjust the notional value of its USD?-M BITOUSDT perpetual contract starting at 09:00 Beijing Time on November 19, with an adjustment factor of 0.5, and the adjustment is expected to be completed by 11:30. This reverse stock split means every 2 pre-split shares are consolidated into 1 post-split share, with the share price rising proportionally. During the adjustment period, BITOUSDT perpetual contract trading will be suspended. All unfilled orders (including take-profit and stop-loss orders) will be canceled, existing positions will be closed out in advance, and unrealized profits and losses will be settled to users’ cross-margin contract accounts. Relevant grid, DCA (Dollar-Cost Averaging) and Snowball strategy bots will be terminated at 08:45 Beijing Time; their positions will be automatically closed out and will not be restored after the adjustment is finalized. Trading is expected to resume at 11:30 Beijing Time, followed by a maximum 5-minute order-only cancellation phase, during which only Post-Only orders can be submitted, modified or canceled. After trading resumes, Binance will temporarily activate the Last Price Protection (LPP) mechanism, which is scheduled to end at 22:30 Beijing Time the same day, before gradually transitioning to standard mark price calculations.

According to Bubblemaps’ monitoring, crypto KOL Cupsey has traded over 27,000 tokens via 30 associated wallets since May 7. Around 3,000 of these token trades generated profits totaling approximately $1.74 million. His modus operandi involves buying tokens via operational wallets and distributing them to associated wallets: Cupsey’s public wallet purchases prompt followers to buy, after which the associated wallets sell off the tokens. He also has on-chain links to multiple rug pull deployers, with the related ruggers earning roughly $1.3 million.

Tom Lee told CNBC in an interview today that last week marked the market bottom, not the start of a deeper correction. First, the market rose on Monday even amid negative news: a flurry of bad headlines over the weekend—including a scandal involving NVIDIA CEO Jensen Huang and Texas’ actions against Elon Musk’s company—yet the market rallied sharply. "Rising on bad news" is typically a hallmark of a market bottom. Second, the VIX term structure has normalized after inverting last week. Lee emphasized this "is usually a sign that the market has bottomed out, and it’s far safer than many people believe." For context, VIX term structure inversion occurs when acute market panic and heavy selling drive investors to scramble for short-term protection (such as short-dated put options), causing near-term implied volatility to spike sharply above longer-dated levels (VIX exceeds VIX3M, with a ratio above 1). This results in a downward-sloping curve, a classic signal of short-term stress and a surge in hedging demand.