Bitget Daily Morning Report | BTC falls below $100,000 as market panics, Chainlink conference focuses on convergence of traditional finance and DeFi

Author: Bitget

Today's Outlook

1. Chainlink's annual flagship event, SmartCon 2025, will be held in New York from November 4–5, 2025, focusing on the integration of traditional finance and DeFi, with authoritative guests exploring the future of blockchain.

2. The Blockchain Futurist Conference will take place in Florida, USA, from November 5–6, 2025, centering on blockchain, AI, and DeFi, making it the largest Web3 event in the U.S. this fall.

3. The public comment period for Wyoming’s stablecoin regulatory rules will close on November 6, 2025, with new regulations potentially impacting stablecoin technology governance processes.

4. Bitwise CIO: Crypto market sentiment is near its bottom; BTC reaching new highs before year-end cannot be ruled out.

Macro Highlights

1. Bitcoin price dropped 1.81% over the past 24 hours, currently trading at 101,622 USD, with market cap falling to 2.03 trillion USD. Global macro pressures and delayed expectations of U.S. rate cuts have intensified market sell-offs.

2. Ethereum fell below 3,200 USDT, down 11.46% in 24 hours, with over 300 million USD liquidated across the market. BitMine Immersion逆势 increased holdings by acquiring 82,353 ETH; Chainlink signed an on-chain compliance agreement with Chainalysis.

3. This week, token unlocks for Ethena (ENA), ImmutableX (IMX), Hashflow (HFT), and others are scheduled. ENA has the largest unlock worth approximately 63.05 million USD. ImmutableX (IMX) unlocked 18.08 million tokens on November 4, valued at 12.11 million USD; Hashflow (HFT) will unlock 160.38 million tokens on November 7, worth 43.91 million USD.

Market Trends

1. BTC now trades below 100,000 USD, ETH around $3,057. Market sentiment is extremely fearful, with 110 million USD in liquidations over the past 4 hours, primarily long positions being liquidated.

2. On Tuesday, all three major U.S. stock indices closed lower, with Nasdaq leading the decline, dropping over 2%, reflecting clear market caution.

3. Bitget BTC/USDT liquidation map shows BTC currently at 99,410, with high-leverage longs concentrated and being liquidated between 99,000–102,000, significantly increasing short-term risk for bulls.

4. Over the past 24 hours, BTC spot inflows amounted to 651 million USD, outflows reached 690 million USD, resulting in a net outflow of 39 million USD.

5. In the last 24 hours, contracts for BTC, ETH, USDT, XRP, BNB led net outflows, possibly indicating trading opportunities.

News Updates

1. U.S. Senator Lummis: A strategic Bitcoin reserve is the only solution to address national debt.

2. Berachain executed an emergency hard fork following the Balancer attack and recovered part of the stolen funds.

3. Stream Finance xUSD stablecoin significantly depegged due to the Balancer incident.

4. Perp DEX achieved a record-breaking $1.75 trillion in trading volume in October, setting a new all-time high.

Project Developments

1. Chainlink: Officially launched the Chainlink Runtime Environment (CRE) product.

2. UBS: Completed the world’s first end-to-end tokenized fund transaction using Chainlink DTA standards.

3. "7 Siblings" addresses borrowed another 61 million USDC to purchase over 18,000 ETH, accumulating nearly 38,000 ETH in two days.

4. Banco Inter: Partnered with Chainlink to complete the first cross-chain trade settlement between Brazil and Hong Kong.

5. Franklin submits updated XRP spot ETF prospectus with simplified 8(a) clause language.

6. Ether.Fi’s $50 million buyback plan approved, triggered at $3.

7. SOL treasury company Forward Industries board approves new $1 billion stock repurchase program.

8. SolanaCompany: Has applied to Canadian regulators to cease being a reporting issuer.

9. Tradeweb: Brings U.S. Treasury benchmark data on-chain via Chainlink.

10. BitMine Immersion: Holdings now reach 3.4 million ETH, accounting for 2.8% of Ethereum’s total supply.

Disclaimer: This report is generated by AI, with human verification only for information accuracy. No investment advice is provided.