On chain monitoring shows that a certain address approached the clearing line due to market downturns. Four hours ago, it sold 1316.8 ETH and earned 4.017 million USD in USDT to repay the loan. The address still has a USDT loan of $146 million on Aave, with a position health rate of only 1.05. If BTC and ETH fall by another 5%, it will trigger liquidation. At present, its WBTC and ETH positions have a floating loss of $65.49 million, with costs of $116762 and $4415, respectively. Address: https://debank.com/profile/0x4ed0b41dff79e0e53a054903873899bc32abc853 (Ashes)

[Arthur Hayes: Bitcoin May Drop to $80,000–$85,000, Then Rise to $200,000–$250,000 by Year-End] On November 18, BitMEX co-founder Arthur Hayes stated in his blog post 'Snow Forecast' that Bitcoin might drop from $125,000 to around $90,000, and then further decline to $80,000–$85,000. He believes that if the stock market corrects by 10%–20% and the 10-year U.S. Treasury yield approaches 5%, the Federal Reserve or the Treasury Department might introduce a money-printing plan. Against this backdrop, Bitcoin could rise to $200,000–$250,000 by the end of the year.

OKX-BTC/USDT is currently trading at $90981.10, with a 5-minute drop of 0.42%. Please pay attention to market fluctuations.

[An address withdrew approximately 186,600 SOL from Binance within 11 days] According to OnchainLens monitoring, a newly created wallet withdrew 116,600 SOL from Binance today, valued at approximately $16.2 million. Over the past 11 days, the address has cumulatively withdrawn 186,600 SOL from Binance, totaling approximately $27.19 million.

[Wintermute Founder: The Problem with the Industry Lies in Exchanges Combining Multiple Functions] DeFiance Capital CEO Arthur Cheong posted on X this morning, stating that the product design and market structure of crypto derivatives (especially perpetual contracts) are the biggest structural issues facing the industry. Without improvement, sustainable growth will be difficult to achieve. Wintermute founder Evgeny Gaevoy responded, pointing out that traditional finance has already addressed these flaws. The real issue lies with centralized and pseudo-decentralized exchanges that combine the roles of executing brokers, central limit order books, and custodial services into one.