Solana's Bull Party Ends: Trendline Smashed, Fib Eyed
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The bearish momentum is increasing, according to key indicators.
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The bearish momentum is increasing, according to key indicators.
[Binance Founder Changpeng Zhao Says Market Fluctuations Are Unrelated to Him] Binance founder Changpeng Zhao stated that market fluctuations have nothing to do with him. He emphasized that although he tweets daily, there is no correlation with market movements.
[Sequans Sells 970 Bitcoins to Reduce Debt to $94.5 Million] U.S.-listed semiconductor company Sequans Communications (NYSE:SQNS) sold 970 bitcoins, reducing its total debt from $189 million to $94.5 million and redeeming 50% of its convertible bonds. The company now holds 2,264 bitcoins, with a net asset value of approximately $240 million. The debt-to-net asset value ratio has decreased from 55% to 39%. CEO Georges Karam stated that this transaction was a tactical decision aimed at unlocking shareholder value. The debt reduction is expected to strengthen the company's previously announced ADS buyback program.
[Most Partners Ready to Resume Operations After Berachain Network Suspension] On November 4, Berachain announced that, apart from one oracle provider, most key partners are ready to resume operations. Due to recent issues related to Stream/Elixir, the oracle provider has faced significant pressure over the past 24 hours and is expected to resume operations within a few hours. The team has verified and received pre-signed transactions provided by white-hat individuals, and once the blockchain resumes block generation, BEX funds will be transferred from the white-hat individuals to the foundation deployer wallet. Previously, the Berachain Foundation stated that validator nodes had coordinated to suspend network operations in order to execute an emergency hard fork to address vulnerabilities related to BEX and Balancer V2. The network is expected to resume shortly.
["October 11 Short Insider Whale" Increases Holdings of 3,000 ETH and 150 BTC, Total Value $26.195 Million] The "October 11 Short Insider Whale" account has newly increased holdings of 3,000 ETH and 150 BTC, with a total value of approximately $26.195 million, expanding the overall position size to $80.3 million. Currently, the account is experiencing an unrealized loss of $913,000. The specific holdings are as follows: BTC long position holdings of 500 units, total value $52.16 million, with an average opening price of $105,500.3; ETH long position holdings of 8,000 units, total value $28.12 million, with an average opening price of $3,552.38.
[Analyst Says Ethereum May Dip to the $3400 Range] On November 4, renowned crypto analyst @IamCryptoWolf stated on the X platform that Ethereum is entering the final phase of the adjustment that began in August, which is part of a larger trend starting around $1500. The analyst pointed out that if Ethereum fails to recover to $3900 soon, the price is expected to potentially dip to the $3400 range.