BIT-related entities hold a total of $155 million in long positions of Bitcoin (BTC) and Ethereum (ETH), with an unrealized loss of $44.06 million at present.

The organization behind Ethereum Layer 2 network MegaETH, MEGA, has laid off roughly 20% of its workforce. MegaETH co-founder Shuyao Kong said Friday the restructuring affected early-stage employees involved in project development, spanning teams for blockchain, wallets, ecosystem support, and communications, though she did not disclose specific layoff figures or the exact timeline of the cuts. She emphasized that the founding team, early employees, and core engineering team will continue to advance the project. The layoffs come amid MEGA’s organizational restructuring and business transformation. The group is shifting its focus to new products on the MegaETH network, including AI services, and has committed $30 million to push forward related initiatives. However, Kong did not explicitly link the layoffs directly to its AI strategic pivot. Per the whitepaper released by the co-founders, MegaETH plans to launch an AI inference marketplace, which will integrate multiple AI service providers to let users select different models, while addressing issues such as model authenticity and transparency in user data processing. Kong stated that MEGA plans to launch the public version of the AI inference marketplace this December.

Swiss wealth management firm LFG+Zest’s Chief Investment Officer Alberto Conca said the market rally is broadening, and defensively positioned European stocks may continue to outperform. Conca made this assessment before Nvidia’s leadership change. The information technology sector accounts for over 35% of the MSCI USA Investable Market Index, but only 8.8% of the corresponding European index. The European index has broader exposure to financial, healthcare, and energy sectors, with some corporate earnings and better-than-expected economic data also providing a buffer. This protection is relative. Investors note that Europe’s lower tech weighting cushions against single-sector volatility; if sell-offs spread from U.S. tech stocks to the entire Wall Street market, stocks in other regions like Europe could also be dragged down. (Jinshi)

U.S. spot Bitcoin ETFs have posted net outflows for two consecutive weeks, totaling $2.35 billion. Of this, net outflows reached $1.07 billion for the week of November 9 to 13, and $1.28 billion for the prior week. On Friday, U.S. spot Bitcoin ETFs recorded a single-day net outflow of $185.4 million, with BlackRock’s IBIT seeing $143.5 million in outflows and Fidelity’s FBTC posting $41.9 million in outflows. This marks the seventh consecutive trading day of net outflows for U.S. spot Bitcoin ETFs, with cumulative outflows totaling around $1.71 billion since November 5. Among them, BlackRock’s IBIT has suffered net outflows for 11 consecutive trading days, with total outflows reaching roughly $2.35 billion. The fund’s net outflows since November have hit $2.12 billion, accounting for approximately 90% of the total net outflows of U.S. spot Bitcoin ETFs over the same period.

According to monitoring by Onchain Lens, a newly created wallet address withdrew approximately $2 million worth of ETH from Gate.io via four transactions in the past hour, with the most recent withdrawal amounting to around $698,000.

According to Onchain Lens monitoring, a whale address has just swapped 1.5 million USDT for 786.16 ETH. Valued at the transaction price, the sum is approximately $1.49 million, and the ETH was subsequently transferred to a new wallet. The relevant wallet address is: 0xa9f5bc32bb16c17bcd81d502d5b4d16044dc3e5d.

Goldman Sachs, Morgan Stanley, and JPMorgan Chase have successively signaled a year-end rebound in US stocks, noting that recent sharp sell-offs, valuation corrections, and concentrated deleveraging by hedge funds have set the stage for a market short squeeze. Goldman Sachs pointed out that market positions have been largely cleared, global stock valuations have returned to near their 35-year historical average, selling pressure is nearly exhausted, and a "Santa Claus rally" may arrive at year-end. Morgan Stanley data shows that hedge funds' net positions in the AI sector have recently turned underweight for the first time since 2023; JPMorgan, for its part, advises investors to buy on dips. However, Goldman Sachs warned that the six-month annualized growth rate of global manufacturing import price inflation has reached around 24%, exceeding the inflation peak during the pandemic, while the annualized increase in global producer prices has also hit roughly 11%. As the pass-through of upstream costs to consumers typically takes 6 to 12 months, inflationary pressures may materialize sharply in the first quarter of next year, forcing the Federal Reserve to maintain its tight policy stance. Goldman Sachs argues that if the year-end rebound leads to a re-easing of financial conditions, it could instead weaken the Fed’s case for holding policy steady, and even exhaust future upside potential. Its strategists warn that investors need to guard against a market correction following the year-end rally.