Bitget Daily Morning Report | Over $1.2 billion liquidated in crypto market; EU plans unified crypto regulation; Balancer hacked, loses $120 million

Author: Bitget

Daily Outlook

1. The Ripple Swell Conference 2025 will take place in New York from November 4–5, 2025, expected to discuss major developments including digital payments and the RLUSD stablecoin.

2. Hong Kong FinTech Week 2025 (FinTech Week 2025) will be held at the Hong Kong Convention and Exhibition Centre from November 3–7, 2025. Industry leaders and regulators will provide forward-looking insights within the next 24 hours.

3. The U.S. Second Circuit Court of Appeals will hear arguments on November 4, 2025 regarding FTX founder SBF's motion for a retrial, drawing significant attention from the crypto industry.

Macro & Highlights

1. The crypto market experiences sharp volatility, with over 330,000 positions liquidated and total liquidation amount reaching $1.279 billion. Federal Reserve officials speak frequently, hinting at rate cuts. CME forecasts a 67.3% probability of a 25 basis point rate cut in December.

2. The EU plans to expand ESMA’s regulatory authority to create a "European SEC", aiming to unify oversight of equities and crypto trading. A draft is expected to be released in December.

3. Animoca Brands announced plans to go public on Nasdaq via a reverse merger with Currenc Group. After the merger, Animoca will own 95% of the new company, with the deal potentially completed in 2026.

4. Decentralized exchange protocol Balancer suffers an attack, losing over $120 million, and is urgently addressing the issue while committing to full user reimbursement.

Market Trends

1. BTC and ETH experience short-term volatile declines. Market sentiment remains cautious, with approximately $30 million liquidated in the past 4 hours, mostly long positions;

2. U.S. major indices close mixed: Dow falls 0.48%, Nasdaq rises 0.46%, S&P 500 gains 0.17%, reflecting clear market divergence;

3. Bitget BTC/USDT liquidation map shows current price at 106,808 USDT. High-leverage longs are densely concentrated in this range; a breakdown could trigger cascading liquidations—watch for extreme volatility.

4. In the past 24 hours, BTC spot inflows totaled $320 million, outflows reached $293 million, resulting in a net outflow of $73 million.

5. Over the past 24 hours, contract trading for BTC, ETH, USDT, XRP, BNB and other tokens saw leading net outflows, possibly indicating trading opportunities.

News Updates

1. The EU formulates a plan to expand central regulation over stock and crypto asset service providers, promoting regulatory unification.

2. Malaysia’s Digital Minister states they are collaborating with the Securities Commission and Central Bank to develop a national blockchain and asset tokenization regulatory framework.

3. FTSE Russell partners with Chainlink to bring global index data such as Russell 1000 onto the blockchain.

4. ETF Store President Nate Geraci predicts that a spot XRP ETF could launch within the next two weeks.

Project Updates

1. Balancer: Hit by hacker attack; TVL dropped from $776 million to $406 million in the past 24 hours.

2. Bitget: Will list KITE (KITE) spot trading on Innovation Zone, Public Chain Zone, and AI Zone.

3. Bitwise: Solana Staking ETF (BSOL) recorded net inflows of $417 million last week.

4. MetaMask: Clarifies rewards points program; Season One includes incentives worth over $30 million in LINEA tokens.

5. Donut Labs: Web3 + AI browser project completes $15 million seed round.

6. X Layer: Accelerates development of x402 payment ecosystem, with CodeNut platform integrating first.

7. BNB Chain: Officially launches Fermi Hard Fork, reducing block interval to 450 milliseconds.

8. VeilWallet: Launches genesis airdrop on BSC chain; registered users can receive 100 VEIL Tokens.

9. BitMine Immersion Technologies: Acquires additional 82,353 ETH, bringing total holdings to 3,395,422 ETH.

10. MicroStrategy: Last week acquired 397 BTC at an average price of $114,771, increasing total holdings to 641,205 BTC.

Disclaimer: This report is AI-generated; humans only verified information. No investment advice provided.