本文经授权转载自话李话外，版权归原作者所有。 目前市场中的氛围给我的感觉是，很多人都在更加注重于短期的交易，恨不得上午买个币下午就可以赚到钱，可能也是因为我个人不怎么擅长短期的交易 吧，我依然比较在意的是大的方向或者长期的趋势，因此会相对比较能够保持住耐心。 就加密市场而言，目前似乎正在面临一种比较有趣的背景条件，比如，正在变得宽松的货币环境、不断推进和出台的监管制度、越来越多 ETF 可能的通 过、越来越多的机构参与度......这些从长期视角来看，都能够带来市场结构的变化、资金的被动流入或增加。 但大部分人的现实想法往往是很难改变的，不过也能够理解，希望赚快钱也是一种比较正常的心理和情绪，而且每个人自身当前面临的困难或者问题也都不 一样，因此我们很难（且也没有义务）要求每个人都应该看得更长远一些、为长期的发展趋势进行赌注。 1.ETH还能到5000美元吗？ 最近几天的行情似乎又让不少人陷入了纠结中，比如，昨天（9月27日）我在后台还看到一个小伙伴的留言说：本来是计划等 ETH 涨到 5000 美元再卖的， 结果现在跌到了 4000 美元，自己也从浮盈变成了浮亏，后悔没有在上个月 ETH 价格 4950 美 ...

(Bloomberg) — Cryptocurrencies shed roughly $300 billion in value this week as a wave of leveraged bets unraveled, battering the sector’s biggest tokens and dragging market sentiment to its weakest point since early summer. Ether, the world’s second-largest cryptocurrency, led the rout with its steepest weekly decline since June. The token has dropped about 12%, sliding below the $4,000 mark — a level traders had widely seen as a crucial line of support. Bitcoin, the market bellwether, wasn’t spared eithe ...

Altcoin season is developing through tokens that show both trading depth and current catalysts. Instead of a blanket rally across the sector, liquidity has been rotating into assets tied to infrastructure, derivatives, and gaming platforms. The latest movement puts Aethir, Mantle, and Hyperliquid in focus, each with distinct reasons behind recent price action. This rotation reflects how altseason often unfolds in waves. Traders look for names with active order books, visible narratives, and exchange acces ...

Core Insights - The cryptocurrency market is experiencing significant volatility, with over $1.5 billion in long positions liquidated, leading to the most severe flash crash in a month [1] - The introduction of perpetual contracts, a type of derivative without an expiration date, is gaining traction in the regulated U.S. market, indicating a shift towards mainstream adoption [3][8] Perpetual Contracts Overview - Perpetual contracts allow traders to hold positions indefinitely, with profits and losses directly tied to the price movements of underlying assets like Bitcoin [3] - The appeal of perpetual contracts lies in their high leverage, enabling traders to control larger positions with smaller capital [4] Risk and Mechanisms - The risk associated with high leverage is significant; a 10% drop in Bitcoin's price can lead to total liquidation of the initial investment [5] - To maintain price alignment with spot prices, perpetual contracts utilize a funding rate mechanism, where long position holders pay fees to short position holders when contract prices exceed spot prices [6] Market Growth and Popularity - The popularity of perpetual contracts has surged, accounting for approximately 68% of Bitcoin's trading volume, driven by traders seeking quick returns during a bullish market [7] - Major trading platforms are rapidly integrating perpetual contracts into their offerings, indicating a competitive landscape [8] Institutional Engagement - Coinbase has launched perpetual contracts for U.S. retail customers, with plans to increase leverage limits [9] - Other firms, such as Robinhood and Gemini, are also entering the market, with Gemini offering up to 100x leverage [10] - The profitability of these products is evident, as Robinhood reported that cryptocurrency and options trading contributed nearly 80% of its trading revenue in Q2 [10]

The crypto market has experienced a notable downturn over the past week, and is trading flat on the day. However, a handful of altcoins are defying this move, with some even posting double-digit gains on the day. The biggest winner of the day is Ethereum layer-2 network Mantle, which climbed 12.1% on the day to a $5.9 billion market cap as the 37th largest cryptocurrency. The double-digit jump follows Mantle’s partnership with centralized exchange Bybit, which offers higher leverage rates and better loan ...

Core Insights - Crypto markets are stabilizing after a significant $1.7 billion liquidation of leveraged positions, with investors shifting focus back to Bitcoin as October approaches, a month historically known for strong performance in the crypto space, referred to as "Uptober" [1][6]. Market Dynamics - Following the $1.7 billion in liquidations, volatility in the market has started to decrease, with traders previously engaging in altcoin speculation, which led to a spike in the altcoin season index to 100 before dropping to 65, indicating a shift away from altcoins [2]. - Bitcoin's market dominance has increased to 57.7%, while Ethereum's share has decreased to 12% but has slightly recovered to 13% [3]. Historical Performance - October has been the best-performing month for Bitcoin since 2013, with average returns exceeding 20%, contrasting with September, known as "Redtember," which is typically Bitcoin's worst month [4][7]. Influencing Factors - Factors influencing the current market include ongoing acquisitions of Bitcoin by entities like Strategy and Metaplanet, significant inflows into exchange-traded funds (ETFs), and a generally bullish investor sentiment [5]. - Upcoming macroeconomic announcements, including a speech from U.S. Federal Reserve's Jerome Powell and Core PCE data on U.S. inflation, are expected to impact market sentiment [5][7]. Future Outlook - If inflation remains stable, it could lead to further rate cuts from the Federal Reserve, potentially increasing liquidity in Q4 and triggering another Bitcoin breakout, which may also initiate a long-awaited altcoin season [6].

Core Insights - The future of finance may transition from traditional Wall Street systems to blockchain networks, emphasizing the potential of tokenization of real-world assets (RWAs) [1][2][3] - Tokenization is seen as a transformative use case for blockchain, enhancing liquidity, transparency, and enabling 24/7 trading for assets like real estate and equities [2][4] Tokenization and Market Dynamics - The tokenization of money market funds is highlighted as a significant opportunity, with stablecoins acting as a bridge to this new system [4] - The demand for round-the-clock trading is underscored by the performance of Bitcoin during geopolitical events, suggesting that traditional markets could benefit from similar on-chain trading capabilities [6][7] Derivatives and Trading Strategies - The rise of zero-day-to-expiry (zero-DTE) options in the U.S. is noted, with these options now making up over half of daily S&P 500 options trading [8] - There is a potential for the appetite for zero-DTE options to extend into the crypto market, with existing platforms like Deribit already offering such products [9][10] Coinbase and Market Position - Coinbase has solidified its position in the crypto market by acquiring Deribit, the leading crypto derivatives platform, enhancing its global derivatives offerings [11]

Traders were in the red Monday as $1.62 billion in bullish bets evaporated over the past 24 hours, according to data from the crypto analytics company Coinglass. Correspondingly, the crypto markets were down, as Bitcoin dropped 2.3% over the past 24 hours to below $113,000, per Binance. Ethereum, the second largest digital asset by market capitalization, had an even starker drop of almost 7% to just under $4,200. The total market capitalization of all cryptocurrencies was down almost 4% day-over-day to abo ...

Core Viewpoint - Ramil Palafox, CEO of Praetorian Group International (PGI), pled guilty to wire fraud and money laundering, operating a Ponzi scheme that defrauded over 90,000 investors, resulting in significant financial losses [1][4]. Group 1: Company Operations - PGI claimed to conduct Bitcoin trading and promised daily returns of 0.5%-3%, which were unsustainable given the firm's modest operations [2]. - The firm misled investors through a fraudulent website that falsely indicated their investments were growing during 2020-21 [3]. Group 2: Financial Impact - More than $201 million was invested in PGI from December 2019 to October 2021, with investors losing at least $62.6 million due to the scam [4]. - Palafox misappropriated funds for personal luxury expenditures, including approximately $3 million on luxury vehicles and over $6 million on homes [6]. Group 3: Legal Consequences - Palafox faces a potential sentence of up to 40 years in prison and is required to pay restitution of $62.6 million as part of his plea agreement [8].

Core Insights - NBA star Kevin Durant has regained access to his Bitcoin account, which he initially purchased in 2016 for $650, and its current value has surged to $117,000, representing an investment return of approximately 18,600% [1][6]. Group 1 - Durant's agent, Rich Kleiman, revealed that he assisted Durant in purchasing Bitcoin in 2015, but they forgot the account password, leaving the Bitcoin untouched until now [3]. - The Bitcoin price has increased dramatically from $650 in 2016 to $117,000, marking a rise of 180 times [6]. - Kleiman expressed that despite the challenges of recovering the password, the current price surge is beneficial, and they remain optimistic about eventually accessing the funds [3].