Peter Brandt Raises Bitcoin’s Next Cycle Top Forecast to $300,000–$600,000

According to Bitget market data, Hong Kong-listed large model stocks declined, with Zhipu (02513.HK) and MINIMAX-W (00100.HK) both falling by over 10%.

DeepSeek suffered another service outage today. Its official status page indicates the outage began at 08:11, impacting web-based chat services, the V4 Pro and V4.1 Flash APIs. As of press time, DeepSeek has resumed normal operations, with the total downtime lasting 5 hours.

According to data from Farside, U.S. spot Bitcoin ETFs recorded a net outflow of $261 million yesterday. Of this total, BlackRock’s IBIT saw a net outflow of $110 million, while Fidelity’s FBTC posted a net outflow of $152.7 million. Additionally, U.S. spot Ethereum ETFs had a net outflow of $129.5 million yesterday, with BlackRock’s ETHA registering a net outflow of $110 million.

According to official announcements, Bitget has launched the FASTRETAILING (Xunxiao Group) stock perpetual contract. The contract is settled in USDT, supports up to 20x leverage and 7×24 trading. As of now, Bitget has a total of 356 stock contract underlyings available.

Insight: Beating AI Newsflash – ByteDance is in advanced negotiations with MediaTek to source custom ASIC chips for its data centers. Bloomberg reported on October 15, citing people familiar with the matter, that the two sides are close to a deal, though details including procurement volume, chip specifications, and delivery timeline remain undisclosed. If finalized, ByteDance would become MediaTek’s second major ASIC client after Google. This is not ByteDance’s first foray into securing data center chips from mobile chipmakers: in May this year, Bloomberg revealed the company had reached an agreement with Qualcomm to source millions of ASICs for powering AI Agents, with Qualcomm set to help bring ByteDance’s self-developed chip designs to production. The latest engagement with MediaTek signals ByteDance is expanding its custom chip supply channels to alleviate computing power pressure stemming from U.S. export restrictions and domestic chip capacity shortages. MediaTek, which previously focused primarily on its mobile processor business, has now entered Google’s TPU supply chain and begun competing with players like Broadcom and Qualcomm for data center orders. The firm projects its data center AI chip revenue will exceed $2 billion this year. In August, Nvidia also subscribed to $3.5 billion in MediaTek’s convertible bonds and announced a partnership to develop custom AI infrastructure. While such ASICs can optimize performance, power efficiency, and cost for specific tasks, it remains unconfirmed whether the chips ByteDance is negotiating to purchase will be used for model training or inference.

Arthur Hayes posted on social media that if AI trading eventually crashes, it could trigger a trillion-dollar-scale market bailout, a scenario that would drive up Bitcoin and Ethereum’s prices. “Will AI eventually crash? I don’t know, and I won’t bet on either side. Instead, just trade for that upcoming trillion-dollar-scale market bailout: go long on BTC and ETH.”