SpaceX transferred 1,163 BTC, and Bitmine bought 14,618 ETH.

Bitcoin

SpaceX Transfers 1163 Bitcoins

According to Onchain Lens monitoring, SpaceX has transferred 1163 Bitcoins, worth $105.23 million, to a new address.

CryptoQuant: Stablecoin Supply Hits Record High, May Foreshadow Bitcoin's Price Movement

According to a recent research report by CryptoQuant, the total supply of ERC20 stablecoins has surpassed $160 billion in 2025, setting a new record. This is considered a key indicator for predicting Bitcoin's price movement. The research points out that compared to the global M2 money supply, the correlation between stablecoin supply and Bitcoin's price movement is more significant.

The report analyzes that stablecoins, as a major source of liquidity in the crypto market, can reflect investor fund flows more quickly and directly, and their supply growth often precedes Bitcoin price increases. During the 2021 bull market and the 2024-2025 market recovery, stablecoin supply growth significantly outpaced Bitcoin price increases. The CryptoQuant research team states that the current stablecoin supply is at a historical high, indicating continued strengthening of underlying market purchasing power, which could be a significant driver of Bitcoin's next price movement. Matrixport: Bitcoin at a critical inflection point, market sentiment and macroeconomic policy conflict create uncertainty. Matrixport released a daily chart analysis stating that Bitcoin has just entered a rare phase: positioning, market sentiment, and macroeconomic policy are colliding simultaneously. Implied volatility has declined significantly, and the demand for crash protection has subsided, but the price remains below a historically difficult-to-break key level. Meanwhile, a key on-chain cost metric is being tested, a level that has historically distinguished between "panic" and "deep value." Adding to the tension is the renewed surge in rate cut expectations following the Fed's shift in tone, but history shows this is precisely the stage where many traders misjudge subsequent price movements. Seasonal patterns point in one direction, while trend structures support another, both supported by data.

QCP Capital: Bitcoin's slight rebound appears to be related to improved risk sentiment, with Fed officials' statements slightly tilted towards easing

Singapore-based crypto investment firm QCP Capital analyzed that Bitcoin stabilized after a slight rebound, and this recovery appears to be related to improved risk sentiment rather than specific crypto-related drivers. Meanwhile, the stock market rose slightly, and the market currently expects an 85% probability of a December rate cut. Inflation remains stubbornly high, and labor market data continues to be weak, including rising unemployment. The balance of statements from Fed officials is slightly tilted towards easing.

With few other major economic data releases this week, market attention will turn to the jobless claims and ADP employment report later in the week. The continued widening of AI-related credit default swaps (CDS) and tech credit spreads suggests investors are reassessing this dominant macroeconomic driver. Crypto ETFs continue to see net outflows, with several digital asset products experiencing liquidations. Most products are currently trading below $1 per unit of net asset value, reflecting heightened risk aversion in the market. Strategy's problems are again under scrutiny as its Bitcoin reserves approach breakeven and its stock is placed on MSCI's delisting watch list. As the year draws to a close, Bitcoin faces the dual impact of negative fund flows and supportive option structures. Correlation with AI-related stocks has increased, while the fear and greed index has declined. Demand for downside protection remains high, although open interest still leans towards call options, but both position size and implied volatility have decreased. If Bitcoin prices rebound to around $95,000, they may encounter ETF-related selling pressure, reinforcing its range-bound trading pattern. Following the recent sharp decline, the $80,000 to $82,000 range remains a key support level. The crypto market continues to serve as a barometer of overall market risk appetite, with macroeconomic drivers still firmly controlling market trends. Arthur Hayes maintains his prediction that Bitcoin will reach $250,000 by the end of the year. Former BitMEX co-founder and former CEO Arthur Hayes maintains his prediction that Bitcoin (BTC) will rise to $250,000 by the end of the year, an increase of approximately 170%. Hayes believes Bitcoin has bottomed out, with the drop to $80,600 last week marking the bottom, and it has since rebounded by about 12%. Hayes points out that the US liquidity tightening cycle is nearing its end, with the Federal Reserve cutting interest rates by 25 basis points in October. The market expects quantitative tightening (QT) to end as early as the beginning of December, with an 87% probability of another rate cut on December 10th. Coupled with the reset effect of the crypto market leverage liquidation on October 11th, this will provide upward momentum for Bitcoin. Despite acknowledging the possibility of prediction errors, he remains optimistic about the long-term outlook. Bitmine bought another 14,618 ETH, worth $44.34 million, according to Onchain Lens. A whale that interacted with the Ethereum Foundation 10 years ago bought 7,318.56 ETH yesterday, according to on-chain analyst @ai_9684xtpa. He sold at a high of $4317 and bought at a low of $3016. Since yesterday, he has been buying 7318.56 ETH on-chain at an average price of $3016.09, worth $22.07 million. The most recent purchase was 40 minutes ago. He previously sold 12575 ETH at the ETH high of 08.09, at a cost as low as $0.875, and currently still holds 10529 ETH. Ethereum co-founder Vitalik Buterin stated on social media today that Ethereum will continue to grow, but will adopt a more targeted scaling strategy. He proposed possible solutions including increasing the block gas limit by 5 times, while also increasing the gas cost by 5 times for less efficient operations. Potential adjustment targets include SSTORE operations when creating new storage, pre-compilation (except for elliptic curve related operations), calling large contracts, complex arithmetic operations, and slightly adjusting Calldata costs. Vitalik pointed out that the Ethereum block gas limit has doubled to 60M in the past year, and this is just the beginning of future improvements. Related gas repricing EIPs are under development for the upcoming "Glamsterdam" or "H*" upgrade. In response to questions about "planned economy," Vitalik stated that while the Ethereum network plans to increase the gas limit and reduce the cost of inefficient operations, the actual selection of transactions in a block is still entirely determined by market mechanisms, "not like Bitcoin." He emphasized that the total block gas is set by validator votes, and many validators will consider core developer suggestions, but the final transaction selection is still determined by the free market.

Vitalik transferred 1,009 ETH, worth approximately $2.94 million

According to monitoring by on-chain analytics platform Lookonchain, Vitalik Buterin transferred 1,009 ETH, worth approximately $2.94 million.

Other Projects

Coinbase: DEX and lending services experience performance issues; technical team is actively investigating

According to an official announcement, Coinbase's DEX and lending services are experiencing performance degradation issues. The technical team is actively investigating the issue and will provide an update soon. Coinbase emphasizes that user funds are safe. The specific cause of the outage and the expected repair time have not yet been disclosed.

The Ministry of Industry and Information Technology and five other departments issued the "Implementation Plan on Enhancing the Matching of Supply and Demand for Consumer Goods and Further Promoting Consumption." The plan proposes the orderly development of platform consumption, including new business models such as live-streaming e-commerce, instant retail, curated retail, and circular e-commerce. It encourages platform enterprises to legally and compliantly utilize artificial intelligence technology to understand user needs and match and recommend products and services. The plan supports platform enterprises in applying digital technologies such as virtual reality, metaverse, artificial intelligence, and blockchain to create multi-scenario, immersive consumption experiences. It also guides platform enterprises to conduct brand quality-driven consumption promotion activities. Finally, it emphasizes the responsibility of platform enterprises, strengthening the review of operator qualifications and the verification of product information, and improving the rapid handling mechanism for consumer disputes. (Jinshi) Binance Wallet Launches On-Chain Stock Trading Function According to the official announcement, Binance Wallet now supports on-chain stock trading. Users can access their wallet through the Binance App, click "Market," and select "On-Chain Stocks" to trade. The minimum transaction fee is 0%. U.S. Bancorp Tests Stablecoin on Stellar Platform U.S. Bancorp stated that it is testing its self-developed stablecoin on the Stellar blockchain. Paxos Announces Acquisition of New York Crypto Wallet Startup Fordefi Crypto payment infrastructure company Paxos announced the acquisition of New York-based crypto wallet startup Fordefi in a transaction exceeding $100 million. Fordefi, a crypto wallet solution focused on decentralized finance (DeFi), currently employs approximately 40 people and serves around 300 clients. Paxos CEO Charles Cascarilla stated that the acquisition was to meet the growing demand for DeFi access from its clients. Fordefi will operate independently for the time being, but Paxos plans to eventually integrate its technology into its own infrastructure. This is Paxos' second acquisition in the past year; it previously acquired Finnish stablecoin issuer Membrane Finance to comply with EU cryptocurrency regulatory requirements.