[Upbit to Launch MMT BTC and USDT Trading Pairs] Upbit announces the launch of MMT BTC and USDT trading pairs.

[Wintermute: Cryptocurrency Performance Continues to Lag, Four-Year Cycle Theory Invalidated] Cryptocurrency market maker Wintermute stated that despite a supportive macroeconomic environment, including interest rate cuts, the end of quantitative tightening, and stock markets nearing all-time highs, the cryptocurrency market continues to underperform compared to traditional asset classes. The global liquidity expansion has failed to drive capital inflows into the cryptocurrency market. Stablecoin supply has grown by 50% this year, increasing by $100 billion, but ETF inflows have stagnated since the summer, with BTC ETF assets under management remaining around $150 billion. Digital asset trading activity has significantly declined. Among altcoins, gaming tokens saw a weekly drop of 21%, while Layer 2 networks and meme coins fell by 19% and 18%, respectively. Only the AI and DePIN sectors showed relative resilience. Wintermute pointed out that the traditional four-year cycle theory is no longer applicable to mature markets, with liquidity becoming the key driving factor. The firm will closely monitor ETF inflows and digital asset trading activity as critical indicators for market recovery.

According to the popularity ranking, ASTER's popularity has decreased by 680000 followers compared to yesterday, ranking first. The popularity ranking is as follows: ① ASTER （$0.9001，-12.61%） ② ZEC （$471.31，23.46%） ③ DASH （$133.90，65.78%） ④ ZEN （$21.67，27.40%） ⑤ COAI （$1.22，3.39%） ASTER's main funds have strong selling power, with a net outflow of $48.5431 million in 24 hours and a transaction volume of $3.315 billion in 24 hours, of which the main funds had a net outflow of $24.3062 million.

**["BTC OG" Whale's New Position Faces $1.2 Million Unrealized Loss, Total Holdings at $53.8 Million]** On November 4, on-chain AI analysis tool CoinBob monitored that the "BTC OG" whale (0xb31) deposited $20 million into Hyperliquid at midnight today, opening a 3x leveraged BTC long position with an average price of $106,000 and a position size of approximately $36.36 million, currently facing an unrealized loss of $740,000. Simultaneously, a 3x leveraged ETH long position was opened with an average price of $3,575 and a position size of approximately $17.42 million, currently facing an unrealized loss of $450,000. Previously, the two addresses associated with the "BTC OG" whale had profited over $170 million during market fluctuations, with funds transferred to the Binance platform. On-chain information indicates that "BTC OG" has no financial interactions with the "100% Win Rate Whale."

[Whale Adds 2,196 ETH and 78,724 SOL Long Positions] On-chain analysis shows that the whale with address 0xc2a...4e5f2 added 2,196 ETH at a price of $3,497 and 78,724 SOL at a price of $159.4. After the addition, the liquidation price for the whale's ETH long position is $3,348, and the liquidation price for the SOL long position is $151.6.