Bitget Daily Briefing (November 5) | BTC falls below $100,000, market panic; Chainlink conference focuses on the integration of traditional finance and DeFi; Perp DEX October trading volume reaches $1.75 trillion

Today's Outlook

1. The annual flagship event of Chainlink, SmartCon 2025, will be held in New York from November 4 to 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 to 6, 2025, focusing on blockchain, AI, and DeFi, making it the largest Web3 event in the U.S. this fall.
3. The public comment period for stablecoin management rules in Wyoming, USA, will end on November 6, 2025, with new policies expected to impact the management process of stablecoin technology.
4. Bitwise CIO: The crypto market is nearing a sentiment bottom, and a new BTC all-time high cannot be ruled out this year.

Macro Highlights

1. The Bitcoin price has dropped 1.81% in the past 24 hours, currently at $101,622, with a market cap down to $2.03 trillion, as global macro pressures and delayed expectations for U.S. rate cuts exacerbate market sell-offs.
2. Ethereum has fallen below 3,200 USDT, with a 24-hour decline of 11.46%, and over $300 million liquidated across the network. BitMine Immersion has increased its holdings by 82,353 ETH, and Chainlink has signed an on-chain compliance agreement with Chainalysis.
3. This week, tokens such as Ethena (ENA), ImmutableX (IMX), and Hashflow (HFT) will unlock, with the largest unlock being ENA, valued at approximately $63.05 million. ImmutableX (IMX) has unlocked 18.08 million tokens on November 4, valued at $12.11 million; Hashflow (HFT) will unlock 160.38 million tokens on November 7, valued at $43.91 million.

Market Trends

1. BTC is currently below $100,000, while ETH is around $3,057. Sentiment is extremely fearful, with nearly $110 million liquidated in the last 4 hours, primarily in long positions.
2. The three major U.S. stock indices closed lower on Tuesday, with the Nasdaq leading the decline, dropping over 2%, reflecting a noticeable cautious sentiment in the market.
   
3. Bitget's BTC/USDT liquidation map shows the current BTC price at $99,410, with high-leverage long positions concentrated in the $99,000-102,000 range, indicating a significant increase in short-term long risks.
   
4. In the past 24 hours, BTC spot inflows totaled $651 million, outflows were $690 million, resulting in a net outflow of $39 million.
   
5. In the past 24 hours, net outflows in contracts for BTC, ETH, USDT, XRP, BNB, etc., have led, indicating potential trading opportunities.
   

News Updates

1. U.S. Senator Lummis: Strategic Bitcoin reserves are the only solution to the national debt.
2. Berachain executed an emergency hard fork after the Balancer attack and recovered some of the stolen funds.
3. Stream Finance's xUSD stablecoin has significantly de-pegged due to the Balancer incident.
4. Perp DEX's trading volume reached $1.75 trillion in October, setting a new historical 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 the Chainlink DTA standard.
3. The "7 Siblings" address borrowed $61 million USDC to purchase over 18,000 ETH, accumulating nearly 38,000 ETH over two days.
4. Banco Inter: Partnered with Chainlink to complete the first cross-chain trade settlement between Brazil and Hong Kong.
5. Franklin submitted an updated prospectus for the XRP spot ETF, simplifying the language of the 8(a) clause.
6. Ether.Fi's $50 million buyback plan was approved, with a trigger price of $3.
7. Forward Industries' board approved a new $1 billion stock buyback plan.
8. Solana Company: Applied to Canadian regulators to cease being a reporting issuer.
9. Tradeweb: Introduced U.S. Treasury benchmark data on-chain via Chainlink.
10. BitMine Immersion: Holdings have reached 3.4 million ETH, accounting for 2.8% of the total Ethereum supply.
    Disclaimer: This report is generated by AI, with human verification for information only, and does not constitute any investment advice.