November 18th, according to HTX market data, Bitcoin broke below $90,000, with a 24-hour decline of 5.9%, down over 28.7% from the recent high.

November 18th, according to on-chain analyst Whale Auntie (@ai_9684xtpa), a whale holding $1.24 billion has continued to accumulate ETH. In the past 12 hours, they have acquired 13,117 ETH in batches at an average price of $3,013.25, totaling $39.52 million.Since November 15th, the whale has increased their ETH holdings to 19,199.91 ETH, with a total value of $58.705 million. The average cost is $3,057.78, resulting in a current unrealized loss of $1.59 million.

November 18th, according to on-chain AI analysis tool CoinBob (@CoinbobAI_bot), monitoring data shows that the "ETH Max Long" whale (0x9ee) on Hyperliquid, who had previously bottomed out in a large amount on November 14th and subsequently added to their ETH long positions, is now experiencing a $15 million unrealized loss. The whale had set a take-profit limit order in the $3858 — $3878 range on the day of opening the position. The whale's current main holdings are as follows:ETH long position size of $180 million, average price of $3224, $15 million unrealized loss;XRP long position size of $94.4 million, average price of $2.29, $7.59 million unrealized loss.This address is the "3x Short ASTER" whale who previously bought ASTER on CZ and heavily increased their short positions. After bottoming out in a large amount, they are now the largest long positions for ETH and XRP on Hyperliquid, with a total position size of $273 million and an overall unrealized loss of $22.8 million.

November 18th, early this morning, Coinbase's official Twitter account updated its bio to "December 17th," implying a significant announcement is forthcoming.It is reported that Coinbase stated in the Q3 earnings call transcript that they are fully focused on building the Everything Exchange and expanding the scale of USDC stablecoin payments. They will be hosting an H2 product event on December 17th to review all the work done in the latter half of this year.

on November 18th, Cathie Wood's Ark Invest increased its holdings of the Bullish (BLSH) stock by a total of 277,063 shares through its ARKK, ARKW, and ARKF ETFs on November 17th. The estimated market value based on the average price that day is approximately $10.18 million.

November 18, Binance Swap will support USD exchange service.Starting from 23:00 (UTC+8) on November 18, users can use Binance Swap to freely trade USD for BTC, USDT, and other tokens, or begin trading within 1 hour after USD is listed for spot trading.

November 18th, Bloomberg Businessweek's annual figure, two-time China's most influential economist Hong Hao posted on Xiaohongshu, stating that Bitcoin, falling to $92,000, may only find meaningful support after dropping to the $70,000 range.

November 18th, JUST DAO released a USDJ Suspension of Operation and Transition Announcement stating that USDJ has successfully ceased operation, and the original stablecoin system has been updated to a fixed exchange rate model with TRX. In the future, the exchange rate of USDJ will be 1 USDJ = 1.5532 TRX.

November 18th, Southeast Asian ride-hailing giant Grab signed a Memorandum of Understanding with Singapore-based stablecoin payment infrastructure provider StraitsX to jointly explore building a Web3 wallet and a stablecoin-based settlement layer in Asia. The partnership plans to integrate Web3 wallet functionality into the Grab app, allowing users to hold and use stablecoins such as XSGD and XUSD for transactions, while enabling GrabPay merchants to accept stablecoin payments from both local and international customers.

November 18th, according to Hyperinsight monitoring, the following is a summary of the past 24 hours' on-chain whale activities:Whale "Buddy" Huang Lizheng's 25x leveraged long ETH position has been liquidated multiple times. He has now accumulated losses exceeding $19.35 million. Currently holding 368.88 ETH long, worth $1.11 million, liquidation price $2963.3;In the past 24 hours, a whale spent 31.16 million USDT to purchase 10,275 ETH at an average price of $3032. Since November 12th, the whale has spent 41.89 million USDT to purchase 13,612 ETH at an average price of $3077;A whale that accumulated $263 million worth of WBTC and ETH through a flash loan 3 months ago is on the brink of liquidation. The whale started liquidating and reducing positions today to lower the liquidation price, selling 1,316.8 ETH 4 hours ago for 4.017 million USDT to repay the loan. It still has a debt of as much as $146 million USDT on Aave, with a health factor of only 1.05. If BTC and ETH drop another 5%, its position will be liquidated. The whale's cost price for WBTC is $116,762 and for ETH is $4,415, facing unrealized losses as high as $65.49 million.A whale opened a total of $48.47 million worth of ZEC (10x leverage) short positions across 3 wallets, currently with unrealized profits of $3.36 million;A whale who has been continuously adding to their SOL short position since October 11th has accumulated unrealized profits of approximately $14.75 million. Its total short position is 394,153 SOL, worth around $52.39 million, with an entry price of $170.35.

November 18th, Recently, multiple institutions have successively reduced their holdings of NVIDIA stock, including:Japanese financial giant SoftBank announced that it had sold its NVIDIA shares in October, cashing out $5.83 billion. SoftBank stated in its latest financial report that it will invest an additional $22.5 billion in OpenAI through Vision Fund 2 in December.The latest holdings report from the world's largest hedge fund, Bridgewater, showed that as of the end of the third quarter of this year, Bridgewater held 2.51 million shares of NVIDIA, a 65.3% decrease from the 7.23 million shares it held at the end of the second quarter. Previously, in the second quarter of this year, Bridgewater increased its position in NVIDIA by as much as 154.37%. This reduction in holdings indicates Bridgewater's cautious outlook on NVIDIA's future performance.Billionaire Peter Thiel has completely liquidated his holdings in NVIDIA. Documents show that Peter Thiel sold approximately 537,742 shares of NVIDIA between July and September. According to the 13F form submitted by his fund Thiel Macro, as of September 30th, he no longer holds any NVIDIA shares. Based on the average NVIDIA stock price during July to September, the selling price of these shares is close to $100 million.In addition, NVIDIA CEO Jensen Huang has sold over $1 billion worth of NVIDIA stock since June, completing a large-scale pre-planned stock sale. The Friday report indicates that Huang recently sold 25,000 shares.

November 18th, according to LookIntoChain monitoring, a whale who has been continuously adding to their SOL short position since October 11th has now realized an unrealized profit of approximately $14.75 million. Their total short position is 394,153 SOL, worth around $52.39 million, with an entry price of $170.35 per SOL.

November 18th, according to EmberCN monitoring, a whale that 3 months ago accumulated $2.63 billion worth of WBTC and ETH through a flash loan is on the brink of liquidation. Today, the whale has started to sell off assets to reduce the liquidation price. 4 hours ago, they sold 1,316.8 ETH to exchange for 4.017 million USDT to repay the loan.Currently, they still have a borrowing of up to $146 million USDT on Aave, with a health factor of only 1.05. If BTC and ETH drop another 5%, their position will face liquidation. The whale's cost basis for WBTC is $116,762 and for ETH is $4,415, resulting in an unrealized loss of up to $65.49 million.

November 18, Trader Eugene Ng Ah Sio posted on his personal channel, stating, "I have increased my long positions in ETH and SOL. The oscillation indicator has significantly returned to the oversold zone, and I believe it is a good time to start increasing exposure to this market."

November 18th, according to official sources, cryptocurrency platform KuCoin announced the official establishment of its Australian headquarters in Sydney, and appointed James Pinch as the Australian Managing Director to lead the local team in advancing business expansion, compliance development, and security and product innovation. This move demonstrates KuCoin's long-term commitment to the Australian market, aiming to serve local users with higher standards of security and transparency, and strengthen its ties with the Australian crypto community. At the same time, KuCoin will also appear at the 2025 Australian Crypto Convention this week as a sponsor, actively promoting industry exchanges and development.

November 18th, according to HTX market data, Bitcoin dropped below $91,000, with a 24-hour decrease of 4.55%.

November 18th, BitMEX co-founder Arthur Hayes stated in his latest blog post "Snow Forecast" that, "Bitcoin has dropped from $125,000 to around $90,000, while the S&P 500 and Nasdaq 100 indices are still hovering at historical highs, which leads me to believe that a credit event may be brewing. This view is supported by the decline in the U.S. dollar liquidity index since July. If the assessment is correct, the stock market may experience a 10%–20% correction, while the 10-year U.S. Treasury yield approaches 5%, forcing the Federal Reserve, Treasury Department, or other U.S. government agencies to urgently roll out some form of money printing scheme. During this soft period, Bitcoin may decline to $80,000 to $85,000. If the broader risk markets collapse, the Federal Reserve and Treasury Department accelerate their money printing actions, Bitcoin could rally to $200,000 to $250,000 by the end of the year."

November 18, Uniswap founder Hayden Adams announced that he has submitted the "Uniswap Governance Proposal to Enable the Fee Switch" for a temperature check vote.If this vote passes, the only remaining step is to proceed with a full on-chain vote.

November 18th. Founder of DeFiance Capital, Arthur, expressed in a post that the product design of crypto derivatives (mainly perpetual contracts) and their related market structure are still the biggest issues that the industry must address before sustainable development to the next stage. The industry cannot afford to go through wealth destruction events of this scale time and time again while pretending that everything is normal without fixing structural issues. However, there is hope to build better products by drawing from historical experiences.Founder of Wintermute, Evgeny Gaevoy, replied to this by stating that traditional finance has long solved these issues, and the real problem is not the design of perpetual contracts but rather those centralized (and semi-decentralized) exchanges that combine market-making, a centralized limit order book (CLOB), and custody in one entity.

November 18th, Yala's official statement on the anchor release of its stablecoin YU and liquidity crisis.· On September 14, 2025, Yala suffered a hack, losing $7.64 million USDC (equivalent to about 1636 ETH at the time). Although this incident caused YU to temporarily unpeg, there were no vulnerabilities in the core protocol. The team injected $5.5 million of funds to maintain stability. Subsequently, YU reanchored, and the protocol resumed normal operation.· On October 29, 2025, the Bangkok law enforcement agency arrested the hacker, and most of the affected funds were recovered from the hacker. The case is currently in the judicial review stage. However, due to some funds being converted to ETH before recovery, the subsequent price drop and the funds consumed by the attacker have led to a reduction in the actual recovery value.· A recent retail exodus from the DeFi market has triggered further panic, putting additional pressure on an already illiquid market. Euler has also been affected. The previously used positions and liquidity to stabilize YU are currently restricted.· Yala did not integrate with the Kamino lending product, and the AyCJ initial wallet is not owned by the Yala team or related members.· The team is assessing the scale of funding required for stabilization in the market and is working with law enforcement agencies and funding partners to advance financing. Given the current liquidity squeeze of multiple protocols and assets, this process will take time. The team commits to announcing a specific plan by December 15, 2025, including the fund recovery path and subsequent operational measures.