Written by: Chris Beamish, CryptoVizArt, Antoine Colpaert, Glassnode
Compiled by: Luffy, Foresight News
TL;TR
Bitcoin has fallen below the cost basis range for short-term holders (STH), and recent buyers are under significant pressure; the $95,000 - $97,000 range has now become a key resistance level. If this range can be reclaimed, it will be an initial signal for market structure repair.
The spot demand remains weak, U.S. spot

Filecoin officially announced the Onchain Cloud ecosystem integration progress, with multiple projects already connected, involving AI, storage, and other fields. Partners include ERC-8004, ENS, Safe, etc., promoting the long-term availability of decentralized agent discovery, naming, and storage. Onchain Cloud is accelerating to become an important part of multi-ecosystem infrastructure.

Author: David, Deep Tide TechFlow
Do you remember the AI trading competition in October?
Alibaba's Qwen 3 Max earned 22% in two weeks, while OpenAI's GPT-5 lost 63%. Six of the world's top large models, each armed with ten thousand dollars in the cryptocurrency market, resulted in a clear distinction between the two sides:
The Chinese model stands tall in the world, while the American model is in total collapse.
The previous season has just concluded, and the new Alpha Arena Season 1.5 is here.

Surveys show that 35% of young wealthy American investors are moving their funds because financial advisors do not offer Crypto Assets investment options, and 84% plan to increase their Holdings. Over 80% believe that Financial Institutions adopting encryption has boosted confidence.

Amidst the external chaos, Nvidia's earnings report was released, and the stock price still rose.
This is quite an impressive financial report, as both the overall quarterly revenue and profits, as well as the performance of the key business data centers, are very strong. Huang Renxun further stated that there are $500 billion in undelivered orders for chips at NVIDIA, and all cloud GPUs are sold out.
The most noteworthy aspect is that Jensen Huang responded to concerns about an AI bubble during the conference call, stating that he does not see any signs of a bubble.
Nvidia's financial report release has attracted significant attention, one important factor being the divergence of opinions from the outside. On one side, there are those who are heavily shorting the stock, typified by the character Barry from "The Big Short"; on the other side, there are the optimistic and buying sentiments exemplified by the investment bank DA Davidson, which once shorted Nvidia.
NVIDIA is thus caught between polarized judgments. The outside world seems to find it difficult to form a consensus on NVIDIA's prospects and the future of the entire AI industry.

Author: Xiaoshouchuanfeng
Let's talk about why the crypto space will no longer see the same kind of clone seasons as before, and how to respond to the future market.
In short: the crypto world is becoming more and more like the US stock market, and the current US stock market is not what it used to be.
What were the US stocks like in the past, and what are they like now.
The typical path of the US stock market before 2010 was: entrepreneurship - growth - going public - retail participation in growth - long-term compound interest (companies repurchase themselves through profits, ultimately buying themselves back).
Duan Yongping has also said: The true buyer of a company is only one person, which is the company itself. It relies on its profits and will eventually buy itself back. However, there are many derivative states, so as long as the company ultimately makes money, when it earns to the point where you are up to your neck, it will have no choice but to buy back.
For example, Tesla's IPO price was $17 (June 2010), considering the 5-for-1 split in August 2020 and 202

According to a message from Shenchao TechFlow on November 20, the latest report from the crypto assets trading platform Bitso indicates that Latin America is experiencing a "breakthrough" year in crypto assets adoption. Data from the Coinchange regulatory report shows that the crypto assets usage rate in the region will rise by 116% in 2024, followed by another rise of 65% in the first half of 2025, with the total number of users now exceeding 57 million.
This significant rise is mainly attributed to the improved regulatory environment, the increasingly mature market, and the proactive regulatory measures in the US and Europe. Brazil has become a regional regulatory leader with the enactment of Law No. 14,478 in 2022, establishing a comprehensive encryption framework; Chile has laid the foundation for digital assets through the 2023 Fintech Law; Mexico's 2018 Fintech Law is one of the earliest regulatory frameworks in the world to formally recognize virtual assets.
Bitso Chief Corporate Affairs Officer Felipe

On November 20, Beijing time, the hybrid public chain project BOB (Build on Bitcoin) released an official blog to announce the $BOB Token economic model, and will issue the Token (TGE) on November 20, Eastern Time.
BOB is the most representative project in the Bitcoin DeFi ecosystem and serves as a gateway to Bitcoin DeFi. It provides users with the simplest and safest way to earn yields on Bitcoin. BOB's unique hybrid public chain model combines the security of Bitcoin with the innovation of Ethereum, making it the preferred platform for building Bitcoin liquidity, applications, and institutional services.
Security
• Combining zero-knowledge proofs with billions of dollars worth of staked Bitcoin provides security for all applications, assets, and transactions;
• Use native on BOB through BitVM technology

A banking Trojan named "Eternidade Stealer" is spreading in Brazil via WhatsApp, using social engineering to deceive users into clicking malicious links, infecting devices and stealing bank and Crypto Assets account information. Security experts recommend staying vigilant and updating software promptly.

Brother Maji, a former artist and tech entrepreneur, is now a Whale in the crypto world. He put on a jaw-dropping wealth roller coaster at the Hyperliquid exchange.
With an aggressive leverage strategy, he once pushed his account to nearly $60 million (with more than $44 million in floating profits).
However, driven by the "gambler's fallacy" and the "disposition effect," he ignored the market reversal and frantically added to his position, trying to fight against mathematical laws.
Ultimately, in 47 days, it fell from its peak to only 1718 dollars, losing all capital, vividly and brutally illustrating the conclusion of the "gambler's ruin theorem."
To understand this defeat, one must grasp three concepts: random walk, absorption barrier, and negative drift.
① Random Walk
Imagine a drunkard walking in a straight line. He tosses a coin, if it's heads he moves forward (making money), if it's tails he takes a step back (losing money).
The experience of Brother Maji is essentially that of a drunken man's footsteps. In the short term, he may be...

Author: Li Dan
The meeting minutes indicate that at the recent monetary policy meeting at the end of last month, there were significant divisions among Federal Reserve policymakers regarding whether to cut interest rates in December, with those in favor of a rate cut not having a clear numerical majority. There was almost unanimous agreement that the quantitative tightening (QT) action of reducing the balance sheet should stop. Regarding the risks to financial stability, some expressed concerns about a disorderly decline in the stock market.
The Federal Reserve meeting minutes released on Wednesday, November 19, Eastern Time, stated:
"When discussing the recent direction of monetary policy, participants expressed starkly different views on the policy decisions the Federal Open Market Committee (FOMC) is most likely to make at its December meeting. Most participants believe that as the Committee gradually shifts to a more neutral policy stance, it may be appropriate to "further lower interest rates."
"However, some (several) people suggest that they may not think December will"

Written by: Dong Jing
Source: Wall Street Watch
From the 19th century railways to 21st century artificial intelligence, every major technological innovation in history has sparked a wave of capital expenditure, but this frenzy often ends in a bubble burst.
BCA Research released a special report in November this year titled "When Capex Booms Turn Into Busts: Lessons From History" that reviews four typical capital expenditure booms, revealing the core logic of the transition from prosperity to collapse, and issuing a warning regarding the current AI boom.
The report summarizes five common patterns: investors neglect the adoption of technology.

Block Inc. has released an optimistic three-year financial outlook, expecting to achieve a gross profit of $15.8 billion by 2028 and expand its stock buyback program. Additionally, analysts are bullish on its prospects in the lending tools and encryption payment sectors, believing the company is undervalued and has significant pump potential.

BlackRock submitted a name registration application for the iShares Staked Ethereum ETF in Delaware on November 20, indicating its upcoming launch of a new Ethereum stake fund product. This application was submitted by Managing Director Daniel Schweiger, marking the progress of its first iShares Ethereum fund by the end of 2023.

Bullish released its third quarter financial report on November 19, 2025, showing strong performance, with adjusted revenue of $76.5 million and net income of $18.5 million, returning to profitability year-on-year. The company launched encryption options trading and received BitLicense approval, with fourth quarter revenue expected to reach between $47 million and $53 million.

Nvidia's Q3 financial report shows revenue of $57 billion, a year-on-year rise of 62%, with data center revenue at $51.2 billion, exceeding expectations. The company predicts Q4 revenue will be around $65 billion, driving the stock price up by more than 4% in after-hours trading. CEO Jen-Hsun Huang stated that cloud GPUs are sold out, gradually alleviating market concerns about an AI bubble.

As of November 19, the performance of the Crypto Assets market has been mixed. In terms of rise, Starknet and MYX Finance increased by 34.28% and 24.62%, respectively; in terms of fall, Canton and Decred decreased by 8.47% and 8.27%, respectively.