Over the past four hours, global crypto market liquidations hit $955 million, with long positions accounting for $870 million of the total.

According to market data, an unusually large transaction on Binance's Bitcoin USDT futures contract occurred at 13:56, with 10,296 Bitcoin traded in a short time, totaling $698 million in volume, likely a liquidation by a futures whale.

According to on-chain analyst Ai Yi (@ai_9684xtpa), a whale address (0x4ce…ee4a7) has again purchased ETH worth $19.91 million. Since September 21, the whale has withdrawn a total of 25,498.47 ETH from Binance, valued at $60.74 million, with an average withdrawal price of $2,382.26, and currently holds an unrealized loss of $11.34 million. The over $3.66 million profit generated from its previous suspected buy-low, sell-high operation has been fully wiped out.

Analyst Darkfost, using the power-law quantile regression model, points out that Bitcoin has broken below a key support level, with market panic spreading rapidly. This stands in stark contrast to the profit-dominated market environment seen just a few weeks ago. Currently, Bitcoin has reached an extreme level of undervaluation; over its entire historical cycle, it has only stayed in this range roughly 3.4% of the time. Darkfost believes that instead of fearing the current market situation, investors should learn to capitalize on these extreme moments. In the long run, the strategy of buying the dip during such extreme undervaluation periods has consistently proven effective. When panic pushes valuations to their limits, it often creates strong long-term positioning opportunities.

According to HTX market data, Bitcoin has extended its downward movement today, hitting a temporary low of $67,568 in a sudden flash dip before quickly bouncing back to recoup some losses. It is now trading at $68,800, with a 1.84% rebound over the past 30 minutes, while its 24-hour decline has narrowed to 6.52%.

According to OnchainLens monitoring, three large crypto whales hold a combined BTC short position worth approximately $19.66 million on Hyperliquid, with leverage ranging from 10x to 25x. One of them has a historical cumulative loss of around $24.86 million, while another has a historical cumulative profit of about $17.08 million.

Insight from Beating AI News Flash: On November 12, four U.S. nonprofits filed a lawsuit in San Francisco against OpenAI, Anthropic, Google, Meta, and SpaceX’s AI subsidiary, seeking a court order to directly halt the development of more advanced AI models. The lawsuit’s demands are radical: it sets each company’s most powerful model as of November 12 as the cap, banning further development or deployment of new models with stronger capabilities. It also prohibits AI from independently carrying out or leading next-generation AI development, aiming to block AI recursive self-improvement. The plaintiffs filed the suit under California’s Unfair Competition Law, arguing that the companies, aware of AI’s potential to spiral out of control, continue to enhance model capabilities, threatening public safety. The complaint cites incidents of AI agents unauthorizedly invading external systems, as well as warnings from the tech giants themselves. Anthropic CEO Dario Amodei once estimated a roughly 25% chance of extremely bad outcomes from AI. Elon Musk has also warned that AI could destroy civilization. Ironically, in September this year, Anthropic, OpenAI, Google, and SpaceXAI were hit with another antitrust lawsuit from a group of paying users. Those plaintiffs exactly accused the companies of colluding to slow AI progress and harm consumer interests. To date, the core allegations of both lawsuits have not been ruled on by the court, and the latest case has not secured an injunction—so the model development of the five companies has not been halted by the court.