Bitget Daily Digest (Nov 5) ｜BTC Drops Below $100K Amid Market Panic; Chainlink Conference Focuses on TradFi–DeFi Integration; Perp DEX October Volume Hits $1.75 Trillion

Today's Outlook

1. Chainlink’s annual flagship SmartCon 2025 event kicks off in New York from November 4th to 5th, 2025, spotlighting the integration of traditional finance and DeFi. Renowned industry figures will discuss the future of blockchain.
2. The Blockchain Futurist Conference will take place in Florida, USA, from November 5th to 6th, 2025, focusing on blockchain, AI, and DeFi. It stands as the largest Web3 event in the US this fall.
3. Wyoming’s stablecoin regulatory comment period closes on November 6th, 2025, potentially reshaping technical aspects of stablecoin management.
4. Bitwise CIO: The crypto market is close to an emotional bottom, and a new BTC high before year-end is possible.

Macro Hot Topics

1. Bitcoin dropped 1.81% in the past 24 hours, now trading at $101,622, with market cap down to $2.03T. Global macro headwinds and delayed Fed rate cuts are fueling sell-offs.
2. Ethereum fell below $3,200 USDT with a 24-hour loss of 11.46% and over $300 million in liquidations. BitMine Immersion increased its holdings by 82,353 ETH. Chainlink and Chainalysis signed an on-chain compliance partnership.
3. Major token unlocks this week: Ethena (ENA), ImmutableX (IMX), Hashflow (HFT). ENA sees the largest unlock at approx. $63.05M. IMX unlocked 18.08M tokens worth $12.11M on Nov 4th; HFT to unlock 160.38M tokens (~$43.91M) on Nov 7th.

Market Movements

1. BTC is currently below $100K and ETH trades near $3,057. Extreme fear dominates sentiment; over $110M in positions liquidated in the last 4 hours, primarily from long orders.
2. All three major US stock indices closed lower on Tuesday, with the Nasdaq down over 2%, reflecting heightened risk aversion.

3.Bitget BTC/USDT liquidation map: BTC trades at $99,410. Heavy leveraged longs in the $99,000–$102,000 zone are being wiped out, raising short-term bull risk.

4.In the last 24 hours, $651M in BTC spot inflows versus $690M outflows—a net outflow of $39M.

5.In the same period, BTC, ETH, USDT, XRP, and BNB saw the largest net outflows in futures trading, hinting at potential trading opportunities.

News Updates

1. US Senator Lummis: Strategic Bitcoin reserves are the only solution to the national debt crisis.
2. Berachain performed an emergency hard fork after the Balancer hack and recovered part of the stolen funds.
3. Stream Finance’s xUSD stablecoin sharply de-pegged following the Balancer exploit.
4. Perp DEX’s October trading volume hit a record $1.75 trillion.

Project Updates

1. Chainlink: Official launch of the Chainlink Runtime Environment (CRE).
2. UBS: Completed the world’s first end-to-end tokenized fund transaction using Chainlink’s DTA standard.
3. The “7 Siblings” address borrowed $61M USDC to buy more than 18,000 ETH in two days, totaling nearly 38,000 ETH.
4. Banco Inter: Partnered with Chainlink for the first cross-chain trade settlement between Brazil and Hong Kong.
5. Franklin filed an updated spot XRP ETF prospectus with simplified 8(a) clause language.
6. Ether.Fi’s $50M buyback program was approved with a trigger price of $3.
7. SOL treasury manager Forward Industries’ board approved a new $1B stock repurchase.
8. Solana Company applied to Canadian regulators to cease being a reporting issuer.
9. Tradeweb: Bringing US Treasury benchmark data on-chain via Chainlink.
10. BitMine Immersion now holds 3.4M ETH, accounting for 2.8% of Ethereum’s total supply.

Disclaimer:
This report was generated by AI and has been manually reviewed for informational purposes only. It does not constitute investment advice.