Bitcoin (BTC) continues to pull back toward the 100-day line near 76.8k. The U.S. midterm election day just passed, and the market showed little reaction; trading volume was even lighter than in previous days. Overnight, Binance officially released a preliminary investigation report on the multibillion-dollar theft from a few days ago, roughly explaining how the hackers breached their internal systems. The specifics were covered in a separate internal briefing, so they won’t be repeated here. ...

Around 4 a.m., Bitcoin was still hovering near $80k. By mid-morning, it had broken below $77k, down more than 5% over 24 hours. What brought the market down was not macro data, but a string of on-chain transfers. At 20:24 UTC on October 29, a transaction was sent from an ETH hot wallet flagged as belonging to Binance, moving out 167,464 ETH plus 63 types of tokens, including 1.615 billion USDT, all sent to a freshly generated address[1]. On-chain statistics later put the total at no less than $5.57 billion across three chains. Chainalysis estimated even higher — at $5.912 billion based on prices at the time of the theft, equivalent to four times the 2025 Bybit hack[2]. ...

Thursday morning, Bitcoin kept oscillating around $80k. Price would dip, then climb back, then dip again — a back-and-forth tug of war, with volume no higher than the day before. The tape was unusually quiet, carrying something of the dullness of a late bear market. For some, this is garbage time; for others, it is a window to prepare. According to Cointelegraph, Muneeb Ali, the founder of Stacks, recently said on the Chain Reaction podcast that quantum fear has effectively put a ceiling on Bitcoin’s growth [1]. His argument: because quantum computing remains without a definitive answer, risk-averse institutions keep pushing their large purchases further and further back — all the way until developers produce a credible post-quantum roadmap. He delivered the line without heat, almost as if describing something already in motion. ...

This morning Bitcoin kept oscillating near its 50-day moving average, around $81.8k. That line, since about October 8–9, has become the support Bitcoin keeps pulling back to and leaning on. As of today, October 23, it still has not been broken. Since October 2, Bitcoin is down roughly 3%. Over the same window, the Nasdaq 100 fell about 4% and the semiconductor index (SOX) dropped 14% [1]. Look back one more round: from June 22 to July 29, Bitcoin was essentially flat while the Nasdaq fell 10% and SOX fell 29% [1]. ...

There is a classic joke. A girl tells a boy: if you can get everyone on the forum arguing, I’ll go out with you. The boy posts a thread titled “PHP is the best programming language in the world.” The forum immediately erupts. The girl says, you’re amazing, let’s go. The boy replies: no — I have to make everyone believe PHP is the best language. The joke lands even if you know nothing about PHP, because the absurdity is universal. ...

Yesterday, Bitcoin staged a fake breakout above its 30-day moving average (around $83.5k), and today it dove straight back down to the vicinity of its 50-day moving average (around $81.8k). While browsing online, I came across a chart plotting US midterm elections against Bitcoin’s price history [1]. The chart lays out BTC’s price curve, marks the midterm election years, and points an arrow at the election month each time: November 2014, November 2018, November 2022. Nearly all of them land near the bottom of a cycle. This year’s election falls on November 3 [1]. ...

Earlier write-ups have made this point: if we observe life closely and think about the backdrop of well-known news and events, we can now and then find, within those events, investment opportunities that the public has completely overlooked yet are highly valuable. A similar report recently surfaced online (see the reference note at the end). Jack Clark, one of Anthropic’s co-founders, has no technical background at all — he studied English literature and Chinese at university and could hardly be said to understand much of AI theory or the frontier [1]. Yet through a string of research findings during his prior career as a journalist, he stumbled into the grand technology track of AI. ...

Recent industry research has zeroed in on a new security question for Bitcoin: which coins are actually exposed to quantum risk right now, in their current holding state? The core test is whether the public key needed to spend a coin has already been revealed on-chain. By that measure, roughly 6.04 million BTC — 30.2% of total issuance — currently sit behind public keys that are already visible on-chain [1]. The remaining 13.99 million BTC (69.8%) keep their public keys hidden while dormant, and are not exposed under this model. (A subsequent update from the same researcher on October 8 later revised the exposed figure to 6.26 million BTC, or 31.2% of supply [2].) ...

Among the legendary builders of the last Silicon Valley generation, one has always held an unusual fondness for Bitcoin: Jack Dorsey, the co-founder of Twitter and Square. What first drew my attention was how different he was from his peers. Most successful founders either ignored Bitcoin or dismissed it outright. Dorsey was the exception — not only in what he said, but in what he did. The most famous example is how, years ago, he poured money and energy into promoting Nostr, a decentralized social protocol [2]. ...

Eighty-two thousand dollars — that is the level Bitcoin spent the entire week probing, without ever really leaving. On Monday, U.S. spot Bitcoin ETFs took in $527 million of net inflows, their best day since September 22, with BlackRock’s IBIT alone absorbing $665 million and trimming October’s net outflow to roughly $88 million [1]. Money is flowing back; the price is standing still. That same day, JPMorgan Asset Management published its 2027 Long-Term Capital Market Assumptions (LTCMA). This is the 31st edition of the annual report — and the first in its history to put Bitcoin in it [2]. ...