Bitcoin fell to about $74,860 and ether 5.9% to $2,125 as Nvidia dropped more than 4% pre-market after its board opened an investigation into reports about CEO Jensen Huang and a suspected Chinese espionage operation. Liquidations hit $1.16B, about $500M of it in ether. The Nasdaq lost 3.4% last week, with Sandisk down 27.4% and Micron 22%. Citi cut US and tech stocks to neutral, warning the Nasdaq could fall another 5%, and upgraded European stocks to overweight. October CPI is due Tuesday with no year-over-year figure. Brent fell 3.8% to $94.56.Bitcoin Slips to $74,860 and Ether Falls 5.9% as Nvidia-Led Tech Selloff Triggers $1.16 Billion in LiquidationsOnly five of the top 100 coins were up 1% or more over 24 hours: ARB, RNDR, PEPE, QNT and GT. Nvidia fell more than 4% pre-market after its board opened an investigation over reports about Jensen Huang’s relationship with a suspected Chinese spy; NVDA perpetual volume on Binance jumped over 200% to above $500M. Futures volume rose over 200% to $180B, open interest fell 3% to about $127B, and liquidations reached $1.16B. Ether took about $500M, mostly longs; its open interest fell 6.7% on the 5.9% drop, funding turned negative, and it closed Sunday below its 200-day average for the first time since August 18. Bitcoin open interest fell just 0.2% on a 2.2% drop, with $305M in liquidations. One-week implied volatility rose to about 43% for bitcoin and 60% for ether; four of bitcoin’s six most active options are puts struck $70,000-$72,000. XRP fell 7.3%, payments tokens over 5%, DeFi 3.5%, memecoins 2.35%, while ARB rose over 5%.Nasdaq Drops 3.4% in Week as AI Chip Stocks Slump; Berkshire Posts Record $9.6 Billion BuybackFor the week to November 6, the Nasdaq Composite fell 3.4%, the S&P 500 2.7%, the Dow 0.9% and the Russell 2000 2.05%, per Investor’s Business Daily. Sandisk fell 27.4% on the week and is down 64.5% from its late-June peak; Micron fell 22% and is 45% below its high. SMH lost 11.2% and IGV 5.2%. Amazon rose 7.9% on the week, Microsoft 1.7%, and Apple slipped 0.7%. US crude fell 12.8% to $90.83 on US-Iran diplomacy hopes, and the 10-year yield fell 7bps to 4.86%, a two-month low. Berkshire bought back a record $9.6B of its own shares in Q3 (previous record $9.3B in Q3 2020); operating earnings fell 6% to $12.7B, revenue rose 11% to $105.6B, and cash rose to $377.4B. All major indexes are below their 50-day averages, and IBD’s Ed Carson said one weak bounce is not enough to signal a bottom.US CPI Seen Cooling to 0.2% After September’s 3.7% Spike as MARA and CoreWeave Report EarningsOctober CPI is due Tuesday, November 10, at 13:30 UTC. FactSet economists expect +0.2% monthly and ING +0.3%, after September’s gasoline-driven 0.6%. PPI is due Friday, jobless claims Thursday (previous 189,000). Bowman speaks Tuesday; US bond markets are closed Wednesday for Veterans Day. From November 12, the EBA supervises USDC as the EU’s first significant e-money token. Earnings: MARA Monday post-market, CoreWeave Tuesday post-market, Nebius and Cisco Thursday, with CoreWeave and Nebius a test of AI compute demand.Oil Extends Slide as Brent Drops 3.8% to $94.56 and WTI Falls to $87.72Brent fell about 3.8% and WTI about 3.4% on November 9, following a 12.8% weekly drop in US crude on hopes for US-Iran diplomacy.Citi Cuts US and Tech Stocks to Neutral on AI Sentiment, Upgrades European Stocks to OverweightOn November 9, Citi cut US stocks, global tech and European tech to neutral, citing weakening AI sentiment and the risk of further selling. It warned the Nasdaq could fall about another 5% before positioning turns decisively bearish. Citi stays constructive on AI over the medium term but wants steadier sentiment and earnings expectations first. It upgraded European stocks outside the UK to overweight, citing lower oil prices and less tech exposure.

AI算力紧缺的支撑来自少数无边界需求，但供给追赶、模型降价和新型云厂商的杠杆，可能在两到三年内让这一格局反转。

Citi cut its ratings on US stocks, global tech stocks and European tech stocks to neutral on November 9, citing weakening sentiment around AI and the risk of further selling by investors.The bank warned that the Nasdaq could fall about another 5% before investor positioning turns decisively bearish. Citi said it remains constructive on AI over the medium term, but wants to see steadier market sentiment and earnings expectations before turning bullish again.At the same time, Citi upgraded European stocks outside the UK to overweight. It said the region benefits from lower oil prices and has less exposure to tech stocks.

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The US October consumer price index (CPI) will be released on Tuesday, November 10, at 8:30 a.m. ET (13:30 UTC). Markets expect headline CPI to rise about 0.3% month over month and core CPI about 0.2%, after headline CPI jumped 0.6% in September. Some forecasts put the headline rise at 0.2%.There will be no year-over-year figure this month, because data for October 2025 was not collected during the 2025 government shutdown.Futures markets show about a 77% probability that the Federal Reserve will raise rates at its December 9 meeting. The S&P 500 posted its worst weekly performance since April 2025 last week.

Cosmos and its supporter, the nonprofit Interchain Foundation, announced the donation of the Inter-Blockchain Communication (IBC) protocol to LF Decentralized Trust, a decentralized technology organization under the Linux Foundation. According to Foresight News, IBC will be hosted as a project by the organization, with participating parties advancing its development under a neutral governance framework. Google Cloud supported the donation, which was jointly initiated by representatives from 21 institutions, including Wells Fargo, Figure Markets, OpenZeppelin, Cardano Foundation, and Injective Labs.

虚拟币换汇涉刑早已不是新鲜事，本文梳理中国内地、香港特区与美国三地的刑事规制逻辑与典型案例。

维塔利克把ETH的价值论证从手续费销毁转向价值存储，但销毁并不构成估值地板，ETH与比特币的价值存储逻辑也不是一回事。

民主党重掌国会后，预测市场从高光时刻转为监管靶心，真正的变量仍在最高法院。

形象成为资产，形象出问题就是资产出问题。董事会要回答的不只是一个人的去留。

婚外情调查叠加“关键人物风险”，支撑AI行情的核心叙事正被重新定价。

从2018年的“加密宿醉”到今天的链上定价，英伟达与币圈这笔账算了九年还没算完。

真正让英伟达董事会启动调查的不是婚外情本身，而是芯片禁令执行中可能存在的越界；11月17日财报与18日国会听证是关键节点。

超大规模云厂商把新云当作表外产能载体：长期合约压低算力定价溢价，资本开支与执行风险被移出主体，但风险并没有消失，只是换了持有者。