Core Viewpoint - Bitcoin has experienced a significant decline, dropping below $90,000, erasing all gains for 2025, indicating a bearish trend in the cryptocurrency market [1][3]. Market Performance - Bitcoin is currently priced at $90,722.9, with a 24-hour decline of 4.99% and a 7-day decline of 15.42%, resulting in a market capitalization of $1.80 trillion [2][3]. - Ethereum and other cryptocurrencies like Dogecoin and Cardano have also seen declines exceeding 5% [3]. Liquidation Data - In the last 24 hours, there were 176,721 liquidations across the cryptocurrency market, totaling approximately $947 million [2][4]. - The liquidation amounts include $138 million in the last hour and $612 million in the last 12 hours, indicating high volatility [4]. Market Sentiment and Analysis - Analysts attribute the recent downturn to a new wave of risk aversion and sell-offs in tech stocks, leading to a loss of support from major investment funds and ETFs [4][5]. - The cryptocurrency market is now considered to be in a "confirmed bear market" phase, with weak ETF inflows and a decline in retail investor interest [4][5]. ETF Fund Flows - Bitcoin ETFs experienced a net outflow of $311.3 million over four days, marking the longest streak of outflows since March 14, with a total of $2.6 billion withdrawn over the past five weeks [5]. - This trend reflects a broader market volatility and a reassessment of the Federal Reserve's interest rate policies, which adds pressure to growth assets like cryptocurrencies [5][7]. Options Market Activity - There is a dominant demand for put options with strike prices of $85,000 and $80,000, indicating expectations of further declines in Bitcoin's price [7].

Core Viewpoint - Bitcoin dropped below $90,000, erasing all gains for 2025, with Ethereum and other cryptocurrencies also experiencing significant declines [1] Group 1: Market Impact - In a 24-hour period, 176,721 traders were liquidated, totaling approximately $947 million (around 6.7 billion RMB) [1] - The decline is attributed to risk-averse sentiment and sell-offs in technology stocks, leading to large investment funds exiting the market [1] Group 2: Market Sentiment - Options traders are betting on further declines in Bitcoin prices, indicating a bearish outlook [1] - Industry experts suggest that macroeconomic signals are merely a trigger, with the withdrawal of external support occurring faster than retail investors can react [1]

Core Insights - The Trump family business has partnered with Saudi Arabia's largest private real estate developer, Dar Al Arkan, to develop a luxury hotel project in the Maldives, combining real estate development and cryptocurrency trading [1][3] - The project will feature 80 ultra-luxury villas and is expected to redefine local luxury standards while innovating real estate investment through tokenization [3][6] Real Estate Development - Dar Global, a subsidiary of Dar Al Arkan, plans to build the luxury villas, which will be accessible by a 25-minute speedboat ride from the capital, Male, with the hotel expected to open by the end of 2028 [3] - This Maldives project is not the only collaboration between the Trump Group and Dar Global, with additional projects planned in Oman, Qatar, UAE, and Saudi Arabia [3] Financial Aspects - The Trump family typically does not invest their own funds in projects but licenses their brand to increase property values, earning millions in fees and profit shares from related sales [4] - In the past year, Trump reportedly earned over $20 million from transactions with Dar Al Arkan [4] Tokenization in Real Estate - The new project involves real estate tokenization, allowing investors to purchase fractional ownership through digital tokens on a blockchain platform, broadening the investor base [6][7] - This innovative financing structure reduces reliance on traditional bank loans and leverages the Trump family's political influence for commercial advantage [6] Cryptocurrency Engagement - The project marks a new chapter for the Trump family in the cryptocurrency sector, with previous ventures including the establishment of a cryptocurrency company and various asset applications related to digital currencies [9] - The Trump family's involvement in cryptocurrency has led to a more favorable regulatory environment, contrasting with the Biden administration's stance [9][10]

11月18日上午，加密货币市场延续暴跌态势，比特币失守9万美元关口。这是比特币近7个月以来首次跌破9万美元关口。 【导读】加密货币集体暴跌，比特币失守9万美元，日内跌幅达5.86%，过去24小时超17万人爆仓 截至发稿，比特币报89838.9美元/枚，24小时内最低报89750美元/枚，日内跌幅达5.86%。 加密货币集体下跌，以太坊跌破3000美元关口，报2958美元/枚，24小时跌幅达6.43%；SOL报132.1美元/枚，24小时跌幅达5.54%。此外，狗狗币、BNB等 均大跌。 | 币种/持仓量 | | 价格 | 24h变化 | | --- | --- | --- | --- | | BTC | $653.2亿 -2.6% | 89836 | -5.77% | | ETH | $367.1亿 -4.7% | 2958 | -6.43% | | SOL | | | | | = | $71.5亿 -0.2% | 132.1 | -5.54% | | XRP | | 2.118 | -5.84% | | $35.4亿 -3.9% | | | | | HYPE | | 39.71 | +3.5% | | $1 ...

Core Viewpoint - The cryptocurrency market is experiencing a significant downturn, with Bitcoin falling below $90,000 for the first time in seven months, indicating a potential credit event brewing in the market [2][9]. Market Performance - As of the latest report, Bitcoin is priced at $89,838.9, with a daily decline of 5.86% and a 24-hour low of $89,750 [3]. - Ethereum has dropped below the $3,000 mark, currently at $2,958, reflecting a 6.43% decrease in the last 24 hours. Other cryptocurrencies like SOL and Dogecoin have also seen substantial declines [5]. Liquidation Data - Over the past 24 hours, more than 175,000 traders have been liquidated, with a total liquidation amount of $935 million. This includes $650 million from long positions and $280 million from short positions [7]. - The liquidation breakdown shows that in the last hour, $130 million was liquidated, with $120 million from long positions and $2.4 million from short positions [8]. Market Capitalization - The total market capitalization of cryptocurrencies has fallen to $3.187 trillion, representing a 2.4% decrease in the last 24 hours. Bitcoin's market share is currently at 57.3%, while Ethereum holds 11.3% [9]. Expert Commentary - Arthur Hayes, co-founder of BitMEX, suggests that the decline of Bitcoin from $125,000 to the $90,000 range, while the U.S. stock market remains at historical highs, indicates a brewing credit event. He warns that if market conditions worsen, Bitcoin could drop to the $80,000 to $85,000 range, but may rebound to $200,000 to $250,000 if U.S. liquidity expands again [9].

Core Viewpoint - Bitcoin has experienced a significant decline, dropping below $90,000 and erasing all gains for 2025, indicating a bearish trend in the cryptocurrency market [1][2]. Price Movements - As of the latest report, Bitcoin is priced at $90,722.9, reflecting a 4.99% decrease. Other cryptocurrencies such as Ethereum and Cardano have also seen declines exceeding 5% [2][3]. - The total market capitalization of Bitcoin is approximately $1.80 trillion, with Ethereum at $359.21 billion [3]. Market Dynamics - In the last 24 hours, over 176,721 traders were liquidated, with a total liquidation amount of $947 million (approximately 6.7 billion RMB) [3][4]. - The recent downturn in the cryptocurrency market is attributed to renewed risk aversion and sell-offs in tech stocks, leading to a loss of support from major investment funds and ETFs [4][5]. ETF Flows - Bitcoin ETFs have seen a net outflow of $311.3 million over four days, marking the longest streak of outflows since March 14, totaling $2.6 billion over the past five weeks [5]. - This trend indicates a weakening demand for Bitcoin and reflects broader market volatility, particularly in growth assets like cryptocurrencies and tech stocks [5]. Market Sentiment - Analysts suggest that the cryptocurrency market has entered a confirmed bear market phase, with declining ETF inflows, ongoing selling by long-term holders, and low retail investor interest [4][6]. - Options traders are betting on further declines in Bitcoin, with a dominant demand for put options at strike prices of $85,000 and $80,000 [6].

Group 1 - The Hong Kong stock market continues to decline, with the Hang Seng Index dropping 1.47% and falling below 26,000 points, marking three consecutive days of losses [1] - The technology sector remains under pressure, with major companies like Xiaomi, JD.com, and Kuaishou hitting new lows [1] - Bitcoin has fallen below $91,000, erasing over 30% of its gains for the year, leading to a decline in cryptocurrency-related stocks [1] Group 2 - Semiconductor stocks are performing well despite the overall market downturn, with leading company SMIC rising by 1.5% due to increased demand from downstream expansion trends [1] - Other sectors such as steel, coal, automotive, gold, and copper are also experiencing declines [1]

Core Insights - The cryptocurrency market is experiencing significant volatility, with Dogecoin ($DOGE) facing a critical test of its long-term recovery trend [2] - A key upward trend line has been breached, indicating potential bearish momentum for Dogecoin [3] Price Analysis - The monthly chart of Dogecoin shows a clear long-term trend, with a critical support level around $0.18, which has been broken as the current trading price is $0.1626 [3] - The price is now being squeezed near a support level of approximately $0.159, which has historically acted as both resistance and support over the past two years [3] Historical Context - The $0.159-$0.16 range is significant for Dogecoin, having previously served as a strong barrier to price increases from May to October 2024, before a breakout led to a surge to $0.4843 in December [5] - Entering 2025, this range transformed into a critical support level, with monthly closing prices consistently holding above it despite several dips [6] Future Outlook - The closing price at the end of November is crucial, as it will determine the future trajectory of Dogecoin [7] - If Dogecoin can reclaim and close above the $0.18 trend line, the long-term upward trend may remain intact; otherwise, a significant drop below $0.159 could indicate a shift towards a bearish market [7][9]

Core Viewpoint - The cryptocurrency ETF market is experiencing significant declines, with major cryptocurrencies like Bitcoin and Ethereum facing downward pressure due to economic headwinds and concerns over interest rate policies [1] Group 1: Cryptocurrency ETF Performance - Bosera Ethereum (03009) has dropped by 6.48%, trading at 2.28 HKD [1] - Huaxia Ethereum (03046) has decreased by 6.02%, trading at 7.1 HKD [1] - Huaxia Bitcoin (03042) has fallen by 5.48%, trading at 11.03 HKD [1] - Harvest Bitcoin (03439) has increased by 5.37%, trading at 11.1 HKD [1] Group 2: Market Conditions - As of November 18, major cryptocurrencies are under pressure, with Bitcoin briefly falling below the 90,000 USD mark, currently priced at 90,777 USD, reflecting a decline of over 4% in the last 24 hours [1] - Ethereum has also struggled, briefly losing the 3,000 USD threshold [1] - Market analysts attribute this downturn to increasing economic challenges, including renewed concerns over interest rate policies and overvaluation in speculative markets [1] Group 3: Options Market Activity - Options traders are betting on further declines in Bitcoin, with a dominant demand for put options at strike prices of 85,000 USD and 80,000 USD [1]

来源：市场资讯 OKX 行情数据显示，BTC 短时跌破 90000 USDT，现报 90153 USDT，24H 跌幅 4.22%，7 个月以来首 次跌破 9 万美元关口。Coinglass 数据显示，过去 24 小时，全网爆仓 9.35 亿美元，其中多单 6.55 亿美 元，空单 2.81 亿美元。最大单笔爆仓单发生在 Hyperliquid - BTC-USD， 价值 $9651.16 万。 （来源：吴说） ...