Glassnode co-founder Negentropic stated that there has not been a narrative shift in the Bitcoin market, but rather a mechanical buffer; the ETF still maintains net gains, despite some long-term holders selling off. Solana ETF fund inflows are stable, the overall cycle structure is good, market demand is strong, the trend has not been broken, and the rebound could be significant.

Bitcoin plummeted to $81,900 on Friday, erasing Thursday's rebound and further extending a month-long dumping spree, with the crypto assets market capitalization evaporating by over $1.4 trillion. Bitcoin's current trading price is more than 30% lower than its historic peak in October, while the entire crypto assets market capitalization has also fallen below $3 trillion. Analysts say that the situation of the market big dump may further worsen. Citrini Research warned in a report sent to investors that risk aversion will continue to impact Crypto Assets and other speculative assets until mid-December. This is because investors are still coping with the effects of the longest government shutdown in U.S. history, which could 'trigger' market volatility. Kiln Research Director Robert Le stated, "If Bitcoin deviates from its established trend, I think the market may underestimate its upside potential and downside risks."

According to BlockBeats news on November 21, monitoring by Lookonchain shows that a Whale address starting with 0xa5B0 has purchased 1,242 ETH (worth about 3.67 million USD) in Spot over the past 2 days. Subsequently, within the past 10 hours, it deposited 5 million USDC into Hyperliquid to go long on 16,366 ETH (worth about 44.3 million USD), with a liquidation price of 2,446.7 USD for its Position.

With Ethereum experiencing a big dump of over 27% in a month, trading prices have fallen below $3000, and BitMine is facing an unrealized loss of over $4 billion. This massive loss is not an isolated incident; it reflects a deeper systemic crisis sweeping across the digital asset (DAT) industry, which is wobbling due to the volatility it relies on for survival. BitMine was once hailed as the Berkshire Hathaway of the digital asset space, envisioning to lock up 5% of the circulating supply of Ethereum. Its core strategy is to transform the company's balance sheet into a long-term, high-confidence investment in blockchain network infrastructure. Today, this ambitious vision collides with the harsh realities of the market.

Timothy Misir, the research director of BRN, stated that the big dump in the crypto market on Friday pushed the fear and greed index to 11, indicating "extreme fear" in the market. Misir pointed out that as the market capitalization of the entire crypto assets dropped to its lowest point since the second quarter of 2025, liquidity "has almost completely disappeared." After Bitcoin fell below the average of active investors, the market focus shifted to the real market average of $81,900—this is a long-term cost basis accumulation point that he describes as "the next important threshold before a full confirmation of the bear market."

Coinglass data shows that approximately $1.97 billion in Crypto Assets were Get Liquidated in the past 24 hours, and the top ten Crypto Assets by market capitalization (excluding stablecoins) all experienced double-digit falls in the past 24 hours, exacerbating the dumping trend. As a result, the total market capitalization of Crypto Assets has fallen below $3 trillion for the first time in seven months. The S&P 500 index stabilized after a decline on Thursday, indicating that this drop is primarily concentrated in the Crypto Assets sector. CryptoQuant's certified analyst Maarten Regterschot stated: "This is the first large-scale dumping since October 10. The historic liquidation event on October 10 was driven by spot selling, while the current fall is driven by leverage."

Gate News bot message, A cryptocurrency whale made their first deposit of $5 million USDC into HyperLiquid, subsequently establishing a long position in ETH with 20x leverage. The current position holds 10,000 ETH, valued at $27 million.

According to a report by Golden Finance, data from Coinglass shows that the Ahr999 index has dipped below 0.5 on November 21, just a step away from the buy the dip range index of 0.45. It is reported that the Ahr999 index is used to measure whether the price of Bitcoin is "expensive" or "cheap" relative to its long-term value. An Ahr999 index below 0.45 is generally considered to indicate that the price of Bitcoin is super cheap in the buy the dip range, suitable for increasing investment; while an Ahr999 index between 0.45 and 1.2 is considered a reasonable price range for Auto-Invest.

Gate News bot message, Crypto influencer Andrew Tate (@Cobratate) experienced another Bitcoin trading setback on Hyperliquid. His latest long position on BTC was liquidated within one hour of opening. This marks Tate's 84th liquidation on the Hyperliquid platform.

Gate News bot message, A significant liquidation event occurred as Bitcoin's price fell below $85,000. A cryptocurrency whale experienced a complete liquidation of their BTC long position, resulting in a $7.5 million loss. The whale's trading position saw a substantial decline in profits, dropping

BlockBeats news, on November 21, on-chain analyst Ai Yi (@ai9684xtpa) monitored that the Bitcoin long order position of address 0x926...8cc7a faced a forced liquidation. The address holds 256.98 BTC (approximately 20.86 million USD) long order position, with a liquidation price of 81,191.3 USD, and the holding period was less than 4 days. This liquidation resulted in a single coin trading loss of 5.23 million USD, ranking second in the Hyperliquid 24-hour loss leaderboard. In addition, the address also holds SOL long orders, currently with unrealized losses of 870,000 USD. It is reported that this trader previously maintained a record of 25 consecutive wins.

On-chain AI tool CoinBob has detected that the trader "Calm Order King" has faced 10 liquidations in a short period, with their holdings dropping from $68 million to $5.8 million. There is still $5.8 million in holdings in SOL, but there are unrealized losses of $930,000. This trader previously turned a principal of $3 million into profits exceeding $30 million, and currently still has $2.8 million in profits.

BlockBeats news, on November 21, according to PI monitoring, Aave Whale (0x94de...940a) encountered a liquidation of 11.41 million USD during the recent sharp fall of Bitcoin. The strategy of this whale involves holding long positions in WBTC and borrowing USDT using collateral.

Odaily News According to monitoring, in the last 24 hours, a total of 389,052 people were Get Liquidated globally, with a total liquidation amount of 1.9 billion USD. 24-hour liquidation situation: long order liquidation: 1.775 billion USD, short order liquidation: 125 million USD. The largest single liquidation occurred in the BTC-USD trading pair on Hyperliquid, worth 36.7828 million USD.

According to the on-chain analysis platform Lookonchain, the address "stayawayfromridiculouslyprettygirls.eth" opened a 3x long position of 120.93 BTC ($10.4 million) and 9.8823 ETH ($2.78 million).

Gate News Bot news, on November 21, according to CoinMarketCap data, as of the time of writing, LTC (Litecoin) is currently priced at 87.04 USD, having fallen by 6.35% in the last 24 hours, with a high of 109.06 USD and a low of 86.13 USD. The 24-hour volume reached 705 million USD. The current market capitalization is approximately 6.662 billion USD, a decrease of about 452 million USD compared to yesterday. LTC currently ranks 18th in the global Crypto Assets market capitalization. Important news about LTC recently: 1️⃣ **Large investors open LTC long positions again** A well-known large investor has recently opened a long position in LTC again. The investor purchased 11,071.24 LTC at an average price of $88.8, with a total value of approximately $9.81 million. This move

BlockBeats news, on November 21, according to Coinbob's popular address monitoring, in the past hour, "ASTER market maker" (0x267) partially closed positions to take profit after ASTER briefly fell below $1.22, and withdrew $100,000 on-chain. Currently, its total holdings scale is approximately $5.5 million, with unrealized gains dropping from $1 million on the 19th to $500,000, an average price of $1.12, and a liquidation price of $0.91. It remains the largest long positions for ASTER on Hyperliquid. Additionally, monitoring shows that this address opened an ASTER long order on November 13, which once had unrealized losses, but turned into profits after the 16th. Meanwhile, its previously held UNI long positions and yesterday's chase the price opened.

According to ChainCatcher news and reported by CryptoCurrency, VanEck's report indicates that Bitcoin wallets that have not conducted any transactions in the past five years are the main source of recent selling, while the wallets with the longest holding period remain "astonishingly stable." In the past two years, the number of coins held by the 3-5 age group has decreased by 32%, and the addresses holding these coins have changed. VanEck believes this trend is related to the replacement of cyclical traders rather than the abandonment of holders for more than ten years. The report also emphasizes the adjustment of speculative positions: since October 9, the open interest of Bitcoin perpetual contracts has decreased by 20% in BTC terms and 32% in USD terms, resulting in the funding rate falling to levels similar to those during previous market downturns. The balance of small wallets holding between 100 and 1000 BTC has decreased.

PANews, November 21 news, according to the official announcement from aPriori, regarding the community's discussion about the $APR Airdrop possibly experiencing a Sybil attack, the project party stated that no evidence has been found of team members or the foundation receiving the airdrop. To incentivize real users, aPriori announced that an additional $APR Airdrop will be launched on the Monad Mainnet launch day, distributed based on community social contributions, with no lock-up restriction. Existing holders can bridge $APR on the Mainnet launch day, and the airdrop threshold has also been lowered to benefit long-term followers.

Gate News Bot news, on November 21, according to CoinMarketCap data, as of the time of writing, XAI (Xai) is currently priced at $0.03, having risen 47.13% in the last 24 hours, with a peak of $0.03 and a low of $0.02. The current market capitalization is approximately $51.9 million, an increase of $16.6 million compared to yesterday. XAI currently ranks 440th in the market capitalization of crypto assets. Important news about XAI recently: 1️⃣ **xAI launches the new generation model Grok 4.1 Fast** xAI announced the launch of the new generation model Grok 4.1 Fast, which features a 2 million token context window and is optimized for practical applications such as customer support and in-depth research. The model supports tool calls, code execution, web browsing, and has passed long-range reinforcement.

Gate News Bot reported that on November 21, according to CoinMarketCap, as of the time of publication, BEAT (Audiera) is currently priced at $0.85, having risen 73.03% in the last 24 hours, reaching a high of $1.28 and a low of $0.35. The current market capitalization is approximately $118 million, an increase of $49.8 million compared to yesterday. Important news about BEAT recently: 1️⃣ **The launch of perpetual contracts drives increased liquidity** Gate exchange recently launched the BEAT/USDT perpetual contract trading pair, supporting 1-20x leverage for both long and short positions, with USDT as the settlement currency. This move significantly enhances the trading flexibility of BEAT, providing investors with more trading strategy options, which helps attract more market participants and thereby increases the liquidity of BEAT. 2

Gate News bot message, trader Machi (@machibigbrother) deposited $115,000 USDC into HyperLiquid to increase a 25x leveraged long position on ETH. According to reports, the trader faced liquidation during the process of opening the position.

PANews, November 21 news, according to HyperBot monitoring, Address 0x020c…5872 (Brother Ma Ji) after getting liquidated again during the fall of ETH in the early morning today, deposited $115,000 to continue to open long positions. This account has repeatedly gone through the "increase the position → Get Liquidated → deposit" cycle for over a week, with frequent and unusual liquidation operations.

ChainCatcher news, according to Jin10 reports, Fed's Paulson stated that when considering long-term monetary policy, one should focus on balancing Inflation and labor market risks.

PANews, November 20 news, according to Jin10 reports, institutional analysts evaluate the U.S. September non-farm: assessing the Fed's likelihood of a rate cut in December is very difficult. The market pricing is once again close to a 50% probability, and the beige book may become a deciding factor again, as there will be no new CPI or employment reports before the December meeting. For long-term interest rates, if the Fed guides the market's focus on a rate cut in January during the meeting, then the rate cut in December becomes irrelevant. Therefore, in my view, all the concerns surrounding whether to cut rates in December only matter to short-term interest rate traders.

PANews November 20 news, Aster announced on platform X that it has completed the full repurchase of S3, repurchasing a total of 55,720,650 ASTER. So far, the cumulative repurchase total has reached 155,720,656 ASTER. 50% of the repurchased tokens will be burned to reduce Circulating Supply and achieve long-term scarcity, with the number of tokens to be burned being 77.8 million ASTER (approximately 1% of the total supply). The burn date is December 5, and the burn transaction will be made public on the blockchain. The remaining 50% of the repurchased tokens (77.8 million ASTER) will be used for future Airdrop to reward long-term users, builders, and holders, and the tokens will be transferred to the Airdrop lock address for subsequent distribution. The S3 Airdrop query opening time is December 1, and the S3 Airdrop claim start time is December 15. In addition, 60%-90% of the fees generated from S4 will be used for repurchase, and the repurchase will be initiated.

Odaily News According to Onchain Lens monitoring, a Whale closed a 6x leveraged Ether long order, incurring a loss of 10.28 million USD, but then opened a 6x leveraged short order.

Gate News bot message, a notable cryptocurrency trader known as 0x0ddf has closed their long positions in ETH and BTC, resulting in approximately $6.2 million in losses. Following this closure, the trader immediately shifted to a bearish stance by opening a 2x leveraged short position on 20,000 ETH,

Since April, the US stock market has experienced a severe fall, but executives of listed companies have actively bought back their own stocks during the market panic, creating a buying frenzy that provides some comfort to long positions. Against the backdrop of the decline in the S&P 500 index, the buying pace of insiders has reached its fastest in recent months, indicating their confidence in the market outlook.

According to HyperInsight monitoring, a long-term whale who has been going long since March this year currently has holdings of about 41.41 million USD, with unrealized losses of 8.71 million USD, and a floating loss rate of 842%. The funding rate settlement has reached 1.55 million USD, with total losses amounting to ten times the principal, making it the whale address with the highest floating loss rate on Hyperliquid.

Solana price has risen by about 4.2% today, but the overall trend remains weak. The Token has fallen nearly 22% in the past month, and the latest on-chain data shows that long-term holders have not supported this Rebound. The group holding Solana for 1-2 years has been reducing their holdings this month. HODL Waves tracks the amount of coins held by holders of different ages, helping to identify which holders are increasing or decreasing their holdings. On October 20, the group holding Solana for 1-2 years held 19.28% of the tokens. By November 19, this number had decreased to 17.24%.

According to BlockBeats news on November 20, monitoring by HyperInsight shows that in the past 2 hours, a Whale (0x8d0) who has gone long over 30 times since the beginning of this month, mostly at a loss, opened a long order for ETH at a base price of 3021 USD, with a holdings scale of approximately 15.11 million USD. In addition, this Whale closed positions on previously opened ETH and SOL long orders today, making a small profit of about 400,000 USD. This Address has frequently gone long on multiple coins intraday since November 3, with a weekly win rate of 27%. Monthly losses once reached 6.7 million USD, which has now narrowed slightly to 5.32 million USD, and the current account funds still amount to 13.7 million USD.

Adam, a macro researcher at Greeks.live, pointed out that there is a clear divergence in the market direction. Long positions believe that $88,500 is the bottom and expect a Rebound, while short positions are bearish on the market and emphasize the moving average resistance. The key is whether the low point is the true bottom and the effectiveness of the support level. The market is expected to experience significant Fluctuation tonight.

PANews, November 20 news, Gareth Soloway, a veteran Wall Street trader with 27 years of trading experience, warned on the program that the current market, driven by the AI concept, has seriously overdosed on future valuations, and the market may face a pullback of 10%-15%, which is just the beginning. He pointed out that AI-related stocks accounted for 75% of the S&P 500 index's rise over the past two years, but valuations have already priced in earnings for the next five years, posing significant risks. He stated that Bitcoin's recent performance has been poor due to factors including reduced volatility, decreased institutional buying, and a trend towards risk aversion. He expects Bitcoin may drop to the range of $73,000 to $75,000 in the short term, or even lower, but he plans to gradually buy in within that range to accumulate a long-term position. Regarding the altcoin market, Gareth maintains a cautious attitude and predicts that Ethereum may further decline to the range of $2,800 to $2,700, which is an important support level.

Golden Finance reported that VanEck released a ChainCheck for Bitcoin in mid-November 2025, indicating that long-term holding whales continue to hold their positions, with the prices of coins held for over 5 years continuing to rise. The dumping is mainly concentrated among users holding mid-term stocks, rather than those who held the stocks earliest. The futures market is bleak, with both funds and open contracts at oversold levels. Data shows that the outflow of ETP funds has led to early weakness, with the balance of Bitcoin ETPs decreasing by 49,300 Bitcoins since October 10, 2025, accounting for about 2% of the total assets under management. The dynamics of whales show a phenomenon where whale positions are decreasing in the long term and increasing in the short term. Whales holding between 10,000 to 100,000 Bitcoins have reduced their holdings by 6% and 11% over the past 6 months and 12 months, respectively. These sold Bitcoins have been absorbed by "small fish" holding between 100 to 1,000 Bitcoins. This type of regulation.

According to Foresight News and monitoring by @ai9684xtpa, the "Address that previously shorted ASTER and made a profit" has currently gone long on ETH/XRP/DOGE with unrealized losses totaling 18.58 million USD. Since the market flash crash on October 11, this address has made over 39.88 million USD through 7 shorting operations.

PANews, November 20 news, according to The Bitcoin Historian citing Bloomberg news, the UAE sovereign wealth fund Al Warda stated that Bitcoin is "playing an important role alongside gold" and said they "expect to hold" Bitcoin assets for the long term, demonstrating their strategic allocation attitude.

PANews, November 20 news, according to Onchain Lens monitoring, encryption user "0x7B7" faced a full liquidation on its ZEC long positions, involving four Wallets, with total losses exceeding $10.4 million.

BlockBeats news, on November 20, according to MLM monitoring, during the continuous holding of a massive ETH long order for over three weeks and continuously increasing the position while falling using the Martingale strategy, the Whale Address holding 17,804 ETH (51.5 million USD) long position was liquidated. Since the end of September, the unrealized losses of the two accounts of this Whale have exceeded 10 million USD.

Odaily News Polymarket predicts that the probability of the Fed maintaining the interest rate unchanged in December has risen to 66%, with a total market volume of 119 million USD. Market data shows that BTC briefly fell below 89000 USD, ETH fell below 1900 USD, and in the past hour, the entire network got liquidated 163 million USD, mainly long orders.

Gate News bot message, Trader Machi (@machibigbrother) has resumed trading activities following a recent liquidation on Hyperliquid. The trader deposited 250,000 USDC to establish a new long position on ETH. According to the trading data, Machi's current position consists of 3,000 ETH, valued at app

Odaily News According to on-chain analyst Yu Jin's monitoring, the long order of Ma Ji Da Ge ETH was liquidated at 20% position, approximately 775 ETH.

ChainCatcher news, Coinglass data shows that in the past hour, the total liquidation across the network was $39,861,800, of which long orders were liquidated for $26,221,300 and short orders for $13,640,600. Additionally, ETH liquidation was about $13.34 million, and BTC liquidation was about $13.16 million.

Gate News bot message, Trader Machi (@machibigbrother) has experienced continuous liquidations on their leveraged Ethereum (ETH) long position with 25x leverage. The latest data shows total losses have reached $19.7M on this position.

PANews, November 19 news, according to Lookonchain monitoring, trader @CL207 opened a 10x long position on NVDA stock on Hyperliquid, with a position size of 9000 xyz:NVDA contracts, worth 1.66 million USD, and a liquidation price of 174.89 USD.

The Abu Dhabi Investment Authority significantly increased its Bitcoin ETF holdings in the third quarter, holding 8 million shares of BlackRock's IBIT, worth approximately $518 million, viewing Bitcoin as a long-term store of value.

PANews reported on November 19 that a recent report by research firm K33 indicates that the Bitcoin derivation market is showing a "dangerous" and concerning structural trend, as traders are increasing aggressive leverage amid a deepening pullback. Data shows that open interest in perpetual futures surged by over 36,000 BTC last week, marking the largest weekly increase since April 2023, while the funding rate continues to rise, indicating that traders are using high leverage to buy the dip. Vetle Lunde, the company's research director, stated that these leveraged long positions have become a potential source of selling pressure in the market, significantly increasing the risk of heightened fluctuation due to liquidation. Historical data shows that there have been seven similar market structures in the past five years, six of which continued to fall in the following month, with an average decline of -16%. The report also pointed out that Bitcoin is facing ETF funding.

Odaily News Bitcoin is currently hovering in a fragile area just above $90,000, with retail investors dumping, large outflows from ETFs, and continually rising downward hedging pressure continuing to dictate the market structure before the end of the year. Analysts indicate that the current trading records reflect an imbalanced flow of funds—short-term holders and Wall Street investors are dumping heavily, while long-term holders, often referred to as "whales," are steadily accumulating. The head of BRN research pointed out that Bitcoin is at a "crossroads," with large holders continuously increasing their holdings while retail investors and short-term buyers are suffering significant losses. Recently, approximately 31,800 Bitcoins were transferred to exchanges at a loss, while the number of wallets holding more than 1,000 Bitcoins increased by 2.2%, marking the highest growth rate in four months. (The Block)

Odaily News reported that the crypto market maker Wintermute stated on platform X that it has followed up with the crypto working group of the SEC and has put forward two key points: 1. Regulated dealers should be authorized to establish their own tokenization securities clearing and settlement procedures without triggering rules applicable to brokers providing clearing services to customers, allowing dealers to settle directly on-chain with counterparties and adopt customized risk management standards; 2. Proprietary trading and liquidity provision on DeFi protocols should not trigger dealer registration. If a company trades solely for its own account and does not interact with customers, that activity falls under the long-standing "trader exemption" provisions.

According to CoinGape, renowned encryption analyst Ali Martinez stated that bearish technical chart patterns may start to take effect, causing the XRP price to fall below $2. Amid extreme panic in the Crypto Assets market, long-term holders and Whales have entered a state of anxiety. Glassnode's XRP long-term holder NUPL data shows that amid increasing uncertainty and volatility in the Crypto Assets market, investors tend to be bearish. The NUPL data of XRP long-term holders shows that the "fervor" of long-term holders ended by mid-2025, following large-scale sell-offs by whales. During the recent fall of the crypto assets market, this sentiment has shifted from "denial" to "anxiety."