If Bitcoin drops below $84,000, the mainstream CEX long liquidation pressure will reach $1.185 billion

On November 21st, according to Coinglass data, the current funding rates on mainstream CEXs and DEXs suggest a bearish market sentiment. The specific funding rates for major coins are presented in the attached image. BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price. It is usually applicable to perpetual contracts and is a mechanism for the exchange of funds between long and short traders. The trading platform does not collect this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is above 0.01%, it indicates a generally bullish market sentiment. When the funding rate is below 0.005%, it indicates a generally bearish market sentiment.

On November 21st, Richard Li Hua, the founder of Liquid Capital (formerly LD Capital), posted on social media, saying: "This year, after suggesting bottom fishing ETH at $1450 and liquidating at $4500 to avoid the October 11th crash, I have recently begun bottom fishing ETH again. I recommend a spot strategy for bottom fishing at $3000 to $3300, which is also the average price of Liquid Capital. Everything is transparent and consistent. This time, the decline of the US stock market exceeded expectations, and everyone wants to make the most accurate moves, but often only commentators can be 100% correct." Liquid Capital still adheres to the spot strategy and is optimistic about the future trend of ETH/BTC and is currently following the trend of the US stock market.

November 21st. Billionaire investor Ray Dalio, the founder of Bridgewater Associates, holds the belief that even if one is concerned that the market frenzy is a bubble on the verge of bursting, one should not hastily abandon the field of artificial intelligence (AI). In an interview with CNBC on Thursday, he stated that he is firmly convinced that the current stock market is deeply trapped in a bubble, but this still is not a valid reason for investors to exit AI trades. Dalio explained to the media that the reason why investors should remain in the market is straightforward: the conditions for the current bubble to burst simply do not exist. "Do not sell merely because of a bubble," said the legendary fund manager. "One needs to time it. What will cause the bubble to burst? Usually, it is the tightening of monetary policy, and we are not facing such a situation at present." In Dalio's opinion, the bubble will only burst when there is a demand for asset liquidation in the market. He

On November 21st, according to CoinGecko data, with Bitcoin falling below $86,000 today, the total crypto market capitalization dropped to $3 trillion. Currently, it stands at $3.018 trillion, with a 24-hour decline of 6.3%.

On November 21st, as per the monitoring of Onchain Lens, a whale transferred 2.24 million USDC into Hyperliquid and initiated a 40x leveraged short position on Bitcoin.