Odaily News On-chain analysis platform Glassnode co-founder Negentropic stated on X platform that historically, the simultaneous rise in prices of three precious metals: copper, silver, and gold, usually triggers: better performance of Bitcoin, momentum in altcoins (especially high liquidity altcoin assets), and a structural transition to a bull run. This is because the rise in hard asset prices often indicates that global liquidity is shifting from financial tightening to expansion, and Crypto Assets will be the biggest beneficiaries.

Golden Finance reports that Cathie Wood, the CEO and Chief Investment Officer of ARK Invest, stated that the company's prediction of a $1.5 million price for Bitcoin during the bull run remains unchanged. She pointed out that since the end of the U.S. government shutdown, $70 billion has flowed back into the market, and with the normalization of the Treasury's general account, an additional $300 billion is expected to flow back in the next five to six weeks.

Golden Finance reports that gold advocate and economist Peter Schiff stated that silver prices have just surpassed $56, reaching a historical high. Gold prices have soared to $4220. Mining stocks are skyrocketing, while Bitcoin is experiencing a fall. Wall Street continues to chase Crypto Assets, while the real bull run is sweeping in.

According to ChainCatcher news, a recent research report by CryptoQuant indicates that the total supply of ERC20 stablecoins has surpassed $160 billion in 2025, reaching a historical high, which is considered a key indicator for predicting Bitcoin price movement. The research points out that compared to the global M2 Money Supply, the supply of stablecoins shows a more significant correlation with Bitcoin price movement. The report analyzes that stablecoins, as the main source of liquidity in the crypto market, can reflect the flow of investor funds more quickly and directly, and their supply growth often precedes the rise in Bitcoin prices. During the bull run in 2021 and the market recovery in 2024-2025, the growth of stablecoin supply clearly preceded the rise in Bitcoin prices. The CryptoQuant research team states that the current supply of stablecoins is at a historical high, indicating the underlying purchasing power of the market.

The volatility indicators of Bitcoin and the S&P 500 index are synchronously declining. Against the backdrop of soaring expectations for a Fed rate cut in December, market panic sentiment is rapidly cooling, and we may see a cross-asset coordinated pump before the end of the year. The Volmex 30-day Bitcoin Implied Volatility Index (BVIV) based on options has retreated from nearly 65% last week to an annualized 51%, following a spike in the index coinciding with Bitcoin's sharp drop from $96,000 to $80,000. Deribit's DVOL has shown a similar trend, reflecting a significant cooling of volatility.

Multiple Wall Street institutions predict that there is still room for a rise in the US stock market in 2026. Deutsche Bank, HSBC, and Morgan Stanley all expect the S&P 500 index target to be between 7500 and 8000 points, believing that policy support and earnings strength will continue.

In November, the Crypto Assets market experienced severe Fluctuation, with the TOTAL3 index plummeting significantly. A large amount of funds flowed into stablecoins, resulting in the market capitalization of alts evaporating by over 1 trillion USD. The TOTAL3 index represents the total market capitalization excluding Bitcoin and stablecoins, serving as an important indicator for measuring the capital rotation in different encryption zones. Analysts generally believe that the current market conditions may signify the end of the altcoin bear market, rather than the conclusion of an overall bull market. Market data shows that the fall of Bitcoin has led to the influx of funds into stablecoins, which then gradually rotate back into altcoins. An analyst named "Stockmoney Lizards" described this pattern as a waiting period.

On-chain analyst Murphy pointed out that after the panic selling was cleared, BTC is experiencing a rebound, with the market focusing on the historical fair price line of $99,000. Although it currently faces short-term and long-term selling pressure, there is still an opportunity for a rebound.

Odaily News Greeks.live released an English community brief, which pointed out: the group shows divergent sentiment, with traders holding mixed positions on ETH being bullish and bearish. Key levels of interest include $2,850, $2,900, and $3,000 strike prices, with strong disagreement on direction; some traders advocate selling call options and buying put options, while others claim that the bull run mode has returned.

PANews, November 25 news, Matrixport released an analysis today indicating that Bitcoin's recent rapid rebound, after experiencing a significant pullback earlier, is mainly driven by sentiment repair. The report mentioned last Friday that after the sentiment indicator fell to extreme levels, the probability of a short-term Rebound has increased, and this phase of Rebound has now been realized. However, analysts believe that this is not a signal for the start of a new bull market. The current market structure is complex, and risk appetite is relatively weak, making the Rebound more suitable as a tactical trading opportunity for the short term rather than the starting point of a trending market.

BlockBeats news, on November 24, CryptoQuant analyst DarkfostCoc pointed out that the open interest of Bitcoin has seen the largest 30-day fall in this cycle. Historical data shows that these cleansing phases are usually a necessary process for forming a solid bottom and creating conditions for the re-opening of the bull run trend.

Golden Finance reported that Andy Sieg, head of wealth management at Citigroup, stated that due to a record influx of funds from wealthy clients this year, the US stock market still "has some room for rise." Sieg said in an interview last week: "Currently, the market does not have that kind of frenzy, nor is there a situation where investors are 'madly pouring money' into stocks at the end of a bull run."

Macroeconomic analyst Lyn Alden stated that Bitcoin is unlikely to experience a significant crash, as the market has not yet reached a frenzy state. She believes that as institutional demand and macroeconomic forces reshape the pace of Bitcoin, the traditional four-year cycle is weakening. Alden expects Bitcoin to return to the $100,000 mark in 2026, but she also cautions investors not to take for granted that every drop will immediately lead to a bull run.

BlockBeats news, on November 23, well-known Chinese encryption analyst Banmuxia posted on social media that the moment for Bitcoin's bullet to be loaded has arrived, with $80,500 basically confirming an important low point in this bear market, and it could even be the lowest point. However, this does not mean that the bear market has ended; this bear market has been running for more than 3 months and could continue for another 3-4 months, but it is a lateral bear market. (ps: this is just an analysis, specific trading should have a clear plan for entry and exit. However, spot can be steadily bought and held until the next bull run ends.)

CryptoQuant CEO Ki Young Ju analyzed the market's weakness and predicted that Bitcoin might struggle to rebound in the next 3-6 months, with a real bull run awaiting liquidity recovery next year. He also mentioned that the foreign demand for U.S. Treasury bonds is weakening, and insufficient liquidity will lead to instability in the bond market, with scarce assets like gold and Bitcoin expected to rise in price.

According to Bloomberg, the Abu Dhabi Investment Authority (ADIC) doubled the size of its holdings in Bitcoin exchange-traded funds (ETF) in the third quarter, shortly before the Crypto Assets bull run abruptly ended, replaced by a brutal dumping. Regulatory documents show that as of September 30, ADIC (Abu Dhabi Investment Council, an independent operating entity under the sovereign wealth fund Mubadala Investment Company) has increased its holdings in BlackRock's iShares Bitcoin Trust ETF (IBIT) to nearly 8 million shares. The disclosed position by ADIC's subsidiary was valued at approximately $518 million at that time. Three months ago, ADIC held 2.4 million shares of the ETF.

Gate News Bot message, Glassnode data shows that the BTC price has fallen below the 0.75 cost benchmark percentile line, a level that has historically marked the Bear Market region. Long positions hope to regain this level to restore the bull run structure.

Gate News Bot news, on November 19, according to CoinMarketCap data, as of the time of writing, SPX (SPX6900) is currently priced at $0.54, with a 17.33% pump in the last 24 hours, reaching a high of $0.71 and a low of $0.45. The trading volume in the last 24 hours is $52.5 million. The current market capitalization is approximately $501 million, an increase of $74 million compared to yesterday. Important news about SPX recently: 1️⃣ **SPX price starts a new round of pump** The price of SPX (SPX6900) has recently shown a significant rise trend and has entered a new round of bull market. In the past 24 hours, the SPX price has surged from a low of $0.45 to a high of $0.71, with an increase of over 57%. This strong upward momentum indicates that the demand for SPX is rapidly increasing.

BlockBeats news, on November 18, Sentora (formerly IntoTheBlock) stated that Bitcoin holders typically accumulate during Bear Markets and distribute during bull runs, forming a "cup" cycle pattern. This round of decline has been slower, and long-term holders have not actively engaged in Buy the Dips, indicating a shift in cyclical behavior. The increase in institutional funds, structured products, and regulated investment vehicles is affecting the timing and manner of market demand emergence. Recent market caution has suppressed Spot buying pressure, and there has even been noticeable selling pressure in the past two weeks. In the long run, a Bitcoin Bear Market may still occur, but its characteristics may rely more on valuation, investment directives, and risk frameworks, rather than panic and euphoria. The participation of professional capital may create a more solid bottom for the market, but downside risks still exist. Future price movement will be less influenced by panic and euphoria, and more dependent on how professional capital decides to allocate the position.

PANews reported on November 18 that Axel Adler Jr., an analyst at the crypto analysis company CryptoQuant, clearly pointed out that the current market stands at the crossroads of the bull and bear boundary, and the trend in the coming weeks will depend on whether it can hold the three "life lines." He warned that these three key price levels are the "fair value" of $87,000, the "average holdings cost of the US ETF" at $79,000, and the "lower limit of the short-term fluctuation range" at $74,000. If these positions are held, the current pullback may just be a deep "whipsaw" in the bull run; however, once they are lost, especially if it falls below the fair value of $87,000, the market risk will increase sharply, potentially signaling a deeper pullback or even the beginning of a bear market.

BlockBeats news, on November 17, the well-known encryption data website DappRadar posted on social media "After seven years, it's time to say goodbye," announcing that the platform will shut down: "We have made the difficult decision to close the DappRadar platform. In the current environment, it has become difficult to achieve financial sustainability for a project of this scale. After exhausting all possibilities, we had to make this tough choice. When we started in 2018, this field was still in its infancy. There were very few early decentralized applications, and the number of explorers was limited, with many questions about the future of decentralized applications still unanswered. Inspired by Cryptokitties, we created DappRadar, hoping to help people explore and understand this new world. We have navigated through bull and bear cycles together. Proudly helping millions of users discover decentralized applications, conduct research and through

Morgan Stanley's Chief U.S. Equity Strategist Michael Wilson predicts that the S&P 500 index will pump 16% over the next year, expecting it to reach 7,800 points by the end of 2026, and it has already risen 14% this year. This target is among the highest on Wall Street for strategists, implying a double-digit rise for four consecutive years.

ChainCatcher message, RootData has released a compilation of zombie projects and will continue to update it. This compilation aims to help investors identify potential risks and promote the healthy development of the industry ecosystem. It is reported that the first batch of 76 "zombie projects" has been exposed in this compilation, covering fields such as DeFi, NFT, GameFi, and infrastructure. These projects mostly originated from the bull-bear transition period of 2022-2023, when the financing boom subsided, and the projects fell into an inactive state, with no updates on product features or operational activities in the past six months, becoming "zombie" projects.

CICC predicts that the gold bull run is not over. Historical data shows that its rise and duration are still lower than in the 1970s and 2000s. Considering macro uncertainty and the potential decline of the dollar, gold prices are expected to break through $5,000 per ounce next year. Investors are advised to maintain an overweight position in gold and adopt strategies of increasing allocation on dips and Auto-Invest.

Golden Finance reports that Bitcoin fell below $95,000 multiple times on Friday, with a cumulative drop of 7.5% this week. An analyst stated that this round of selling appears more like a pullback in the middle of the cycle rather than the beginning of a full-blown Bear Market, as the current losses have not yet reached the level of "Capitulation dumping." The uncertainty in the market comes from investors' changing expectations regarding the Federal Reserve's policies: traders now anticipate that the probability of maintaining interest rates in December is only 56.4%, whereas just a month ago, the market believed the probability of a rate cut was as high as 94%.

Trader Eugene Ng Ah Sio pointed out that Bitcoin's fall below $100,000 is mainly due to the breakdown of the long positions bull run structure and the impact of psychological barriers. He stated that he is not interested in the current fall and is following the area above $90,000, entering a defensive mode.

Liquid Capital founder Yi Lihua predicts ETH will rise to $7,000, believing that mid-term elections and money printing will drive a bull market. He points out that current market conditions are favorable and advises patience for the next bull run, suggesting to avoid contracts and focus on spot trading. Additionally, he mentions that people need to overcome the psychology of rushing for quick gains.

CryptoQuant Research Director Julio Moreno analyzed the selling behavior of long-term Bitcoin holders, noting that selling during a bull market is normal. Although recent holder selling has increased, the accompanying demand has shrunk, leading to an inability to absorb supply at higher prices.

Rachel Lin, the CEO of SynFutures, believes that the fall in October lays the foundation for a Bitcoin bull run and points out that historical data shows Bitcoin performs strongly in November. She expects Bitcoin to trade sideways and potentially rebound when policy changes occur, and in the long term, Bitcoin could rise to between $120,000 and $150,000 by the end of 2025.

The introduction of policies has triggered a more intense Bull vs Bear Battle in the gold market, and rising tax costs may lead to increased short-term selling pressure. Investors should be cautious; holding long-term or using gold ETFs can help avoid some tax burdens. The policy aims to regulate investment paths, which is beneficial for deflating the market bubble, and funds will be more concentrated in high Liquidity standard gold and gold ETFs.

According to a report by Golden Finance, data from River shows that since 2020, the frequency of Bitcoin's price fluctuations has been significantly higher than that of gold and the S&P 500 Index. The data indicates that Bitcoin has experienced approximately 20 instances of a 5% fall, 13 instances of a 10% fall, and 8 instances of a 20% fall; in contrast, the number of pullbacks for gold and the S&P 500 is noticeably lower. It is worth noting that the price of Bitcoin at the beginning of 2020 was only $7,100, after which it experienced intense bull and bear cycles and market growth.

The market performance of Bitcoin during the Halving period is significantly different from the past, with the current volatility below 2%, reaching a historic low. Analysts believe that this phenomenon marks the collapse of the rule of thumb, suggesting that a steady bull run may continue.

The American fast-food chain Steak n Shake has announced the establishment of a Bitcoin reserve, with all Bitcoin payments being deposited into this reserve, and for every transaction made in the next 12 months, 210 Satoshis will be donated to Open Sats Initiative, Inc. The brand has supported Bitcoin payments this year and launched the "Bitcoin Bull Burger."

Recently, the crypto market has continued to fall, and investors have raised doubts about DAT company. Major stocks such as MSTR and various alts have all hit new lows, with declines of over 80% from the bull run peak. Several companies have performed poorly in stock prices, and the investment outlook is concerning.

According to data from The Block, although the price of Bitcoin has reached a new high in the current crypto bull run, the total trading volume of centralized trading platforms has not yet reached the levels of 2021. The current total trading volume is $2.05 trillion, far lower than the $4.16 trillion in April 2021.

Encryption analyst Murphy pointed out that as of October 26, the price of Bitcoin exceeded the average cost of short-term holders at $113,200, indicating that the current period is not the end of the bull run cycle, but rather a new macro-driven cycle, emphasizing that the recent Bear Market is merely a phase of sentiment.

Jin10 data reported on October 26 that Huaxi Securities research report pointed out that the "slow bull" trend is returning, and the global technology AI market is resonating. Short-term risk appetite is expected to be boosted, and the A-share "slow bull" market will continue. Structurally, "big technology" remains the main line in the medium to long term. Next week, the financial reports of A-share listed companies and US technology giants will be released intensively, and against the backdrop of the accelerating global AI arms race, the capital expenditure guidance of technology giants in AI will become the focus, ushering in a window period for the global technology AI market.

Alex Thorn, Head of Research at Galaxy Digital, stated that the Bitcoin bull run remains solid, but market sentiment could shift quickly. He warned that if Bitcoin falls below $100,000, it could raise concerns and shake the foundations of the bull run. Although the recent adjustments are influenced by macro sentiment, in the long term, institutional demand will support the market, indicating that Bitcoin is entering the "post $100,000 era."

Golden Finance reports that Cryptoquant analyst Axel Adler Jr has released a market analysis indicating that the Bitcoin Heat Macro Phase has entered the bottom / accumulation zone, with speculative pressure easing. This indicator status, in the context of a bull market, usually corresponds to the accumulation phase of positions before a new round of price increase. To achieve a rebound, two key conditions must be met: first, a decrease in market volatility; second, no negative triggering events globally in the coming week.

Golden Finance reports that CryptoQuant data shows that "dolphin" investors holding 100–1000 Bitcoins have continued to maintain above their one-year moving average and increased their holdings by 681,000 Bitcoins in 2025, indicating that the bull run cycle may not yet be over.

The fourth phase of the "Red Bull Trading Tour" launched by Gate in collaboration with the F1 Red Bull Racing Team has started on October 23, with no registration threshold. Users participating in trading can compete for a total prize pool of 20,000 GT rewards. The leaderboard champion will receive live viewing tickets for the F1 Grand Prix and a limited edition model, while new users can receive a 50 USDT experience voucher.

PANews reported on October 23 that Cryptoquant analyst Axel Adler Jr released a market analysis stating that Bitcoin (BTC) and the S&P 500 are currently in the late stages of a bull run. The S&P 500 has a return of +13% over the past 52 weeks, indicating that the market is still in a risk-on mode. The correlation between BTC and the S&P 500 is 0.26, suggesting that the two have a moderate positive correlation, with Bitcoin tending to move in the same direction as the stock market, but not entirely reliant on it. In addition, the S&P 500 is sensitive to macroeconomic and political rhetoric, and any market cooling may quickly affect BTC prices. In the fourth quarter of 2025, market attention will shift to corporate earnings performance. During the third quarter earnings season, 58 companies that have reported their results have all exceeded expectations, with an average beat of 571 basis points. Earnings growth is expected to rise from 7% to 8%, in line with typical performance in the late bull run.

Analyst Axel Adler Jr pointed out that Bitcoin and the S&P 500 index are in the late stage of a bull run, with a correlation of 0.26, indicating that the two are moving in tandem but are not completely dependent on each other. The current market risk appetite is strong, and corporate earnings are exceeding expectations, supporting the continuation of the bull run.

BlockBeats news, on October 21, after Bitcoin reached the peak of the bull run in November 2021, it quickly pulled back, alerting investors. In 2025, the price of Bitcoin broke through the 120,000 USD mark, but market sentiment and technical analysis indicate that there may be a risk of price topping in November. The technical analysis shows that the price of Bitcoin is pulling back around 107,983 USD, and the MACD indicator suggests that market momentum is weakening, indicating a possible adjustment in the short term. According to Alternative's Crypto Fear & Greed Index, market sentiment has experienced significant fluctuations since the end of September 2025, especially at the beginning of October when sentiment rapidly rose to 'Extreme Greed', then quickly fell back to 'Panic'. The current index is 29, indicating that market sentiment is leaning towards panic.

Encryption KOL Ansem pointed out that the weekly charts of XRP, SOL, and ETH show SFP patterns, suggesting that market momentum may be ending and the likelihood of a bull run is decreasing. He believes that the current market structure is weak, and BTC needs to reclaim $112,000 to change the bearish trend.

Golden Finance reports that Alex Thorn, research director at Galaxy Digital, believes that the current structural bull run remains intact for both crypto assets and the stock market. He pointed out that the three forces driving the next phase of the rise are artificial intelligence capital expenditure, stablecoins, and tokenization.

Coinbase conducted a survey of investors from September 17 to October 3, finding that 67% of institutional and 62% of non-institutional investors have a bullish outlook on Bitcoin's prospects, while there is a significant divergence in views between institutional and non-institutional investors during the market cycle phase. The macro environment is considered the biggest risk for the future.