[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 Over the past 11 days, the address has cumulatively withdrawn 186,600 SOL from Binance, totaling approximately $27.19 million.

Monitoring shows that long accounts have long 21 types of altcoins, with a current floating loss of $1.386 million. Only ASTER has made profits from multiple orders, while the rest are in a floating loss state. Among them, HYPE has a floating loss of $218000 due to its large position. In addition, the TWAP buy order for this account has not been cancelled, and the pending order price shows that if the market rebounds, it will continue to be bullish. (Auntie Ai)

[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.