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Renowned trader Ansem stated in the podcast "Market Bubble" that he has recently shifted from a bullish to a bearish stance, reducing his positions and taking profits over the past few days, while also shorting a portion.Regarding stocks, Ansem believes that mainstream targets have seen significant increases, accumulating a large amount of unrealized profits, and have hardly experienced any proper corrections. Now, significant de-risking and profit-taking are starting to occur. He thinks that the U.S. stock market may be at the tail end of the macro cycle, with funds withdrawing.For the cryptocurrency market, Ansem believes that crypto performed strongly in Q3, but it may just be a counter-trend rebound rather than the beginning of a new bull market. Crypto had previously outpaced the weakness in stocks, rebounding after being oversold; if stocks continue to weaken, they may drag crypto down with them, and Bitcoin could fall back to around $70,000. He also expressed continued optimism about tokenized stocks, viewing them as a key pathway to bring more traditional capital onto the blockchain, as well as a catalyst for the next wave of real users and capital inflow, and reiterated his positive outlook on ZEC, emphasizing its privacy Bitcoin attributes.

According to The Block, as the U.S. midterm elections approach, the digital asset industry may face changes in the congressional political landscape. Over the past two years, the Republican-led Congress passed the stablecoin bill GENIUS Act and advanced the broader Clarity Act; the latter passed the House in 2025 but stalled in the Senate due to controversies over stablecoin rewards and ethical issues raised by former President Trump's crypto wealth. Prediction market Kalshi shows that the probability of the Democrats winning the Senate and the House is 64% and 90%, respectively.The chair of congressional committees holds the power to set the agenda. If the Democrats regain the Senate, Elizabeth Warren will become the chair of the Senate Banking Committee. Ron Hammond, head of policy and advocacy at Wintermute, expects that she will actively use subpoena power and may focus on scrutinizing the Office of the Comptroller of the Currency's approvals of new bank charters for Ripple, Coinbase, and World Liberty Financial, which is supported by the Trump family.The election situation in Ohio is also under scrutiny, with former Senate Banking Committee chair Sherrod Brown facing pro-crypto Republican Jon Husted. Fairshake PAC has pledged $30 million to support Husted. Hammond stated that if Brown wins, he may become the chair of the Senate Agriculture Committee, which could potentially shelve related crypto legislation. In the House Financial Services Committee, regardless of whether Maxine Waters, Sean Casten, or Bill Foster leads, the Clarity Act is unlikely to advance. Lindsay Fraser, chief policy officer of the Blockchain Association, stated that while congressional control may change, the demand for clear crypto regulations will not.

Nick Timiraos, the "Fed's Mouthpiece," stated that when Waller took office, it coincided with the Federal Reserve's shift to a tightening cycle; historically, such periods are often when "forward guidance" plays a key role. It is commonly believed that "forward guidance" originated during the ultra-loose monetary policy period of 2008-2009 and afterward, as the Federal Reserve heavily relied on this tool when interest rates hit the "zero lower bound." However, in reality, the history of forward guidance can be traced back to 1999.At that time, Federal Reserve officials wanted to retract the rate cuts made in 1998 while also avoiding the miscommunication that caught the market off guard during the rate hikes of 1994. Therefore, in May 1999, the Federal Reserve attempted for the first time to issue a policy statement after a meeting where interest rates were kept unchanged.Previously, the Federal Reserve would only release statements after meetings where interest rates were adjusted. Six weeks later, the Federal Reserve raised interest rates. The minutes from the May 1999 meeting indicated that officials were already aware of the high likelihood of a rate hike and hoped to guide market expectations accordingly. Officials did not want the market to misinterpret their policy intentions.

Zcash co-founder Sean Bowe released a ZIP draft proposing to stop the automatic allocation of block subsidies to Zcash Community Grants (ZCG) and redirect the original 8% subsidy share to the Network Sustainability Mechanism (NSM).The draft states that ZCG currently holds approximately 91,452.98 ZEC, valued at about 125 million dollars, and the existing funds are sufficient to continue supporting related activities without the need for ongoing block subsidies. If the proposal takes effect, from the specified activation height, the original 8% share will be allocated to the NSM fund until the original funds expire; the existing assets and governance rules of ZCG will remain unchanged.

The decentralized exchange Osmosis based on Cosmos has terminated the issuance of OSMO tokens and shifted the source of staking rewards from newly issued tokens to protocol revenue.This adjustment eliminates approximately two percentage points of the staking annual yield supported by the issuance, while freezing about 51.9 million previously minted developer tokens.

JUST released an open letter to JST holders and launched the JST 2026 Q3 and October key progress report. The letter pointed out that a total of 1,881,973,007 JST has been repurchased and destroyed over five rounds, accounting for 19.01% of the initial maximum supply, with approximately 118.15 million USD invested in repurchase and destruction. JUST DAO upgraded the JST repurchase and destruction mechanism in October, which will shift to being based on sustainable ecological income, and plans to invest approximately 20.34 million USD of excess funds into repurchase in four phases starting from Q4 2026, while retaining at least 50 million USD as a treasury safety reserve.The report also showed that JustLend's quarter-end TVL remained above 7 billion USD, with approximately 21.24 million transactions in GasFree Q3. As the repurchase funds shift from historical income reserves to sustainable ecological income, the deflationary path of JST and ecological growth are gradually forming a closer linkage.

QCP stated that the credit risks related to AI infrastructure are accelerating in repricing. CoreWeave's bond yield has risen to about 15% this year, as the market begins to reassess high financing costs and debt sustainability.The related pressure has spread from CoreWeave to the broader neocloud infrastructure sector, dragging down the performance of tech stocks and crypto assets, while pushing funds towards long-term U.S. Treasury bonds.

Meta Platforms CEO Mark Zuckerberg stated that the company will adjust the investment pace in the virtual reality sector and shift its focus to artificial intelligence.

Renowned trader Killa reviewed the weekly trend of Bitcoin, pointing out that last week BTC rebounded 50% after falling from $87,000 to the $80,000 range. After the current weekly opening, the price surged on Monday but continued to face resistance, ultimately sweeping down to about $80,000, the low of the previous week.Currently, the market is mainly "hunting" for long positions, so there is a significant chance that it will start hunting for short positions next week. In the short term, it is crucial to closely monitor whether it sweeps the low of this week at $79,800 again; if it does, look for long opportunities.Killa provided a clear observation framework: if the price does not sweep the lows again, then focus should be on the $83,600 area. If it cannot break through this area, the market will continue to be in a surrender phase of range-bound fluctuations; if it can successfully reverse, then the market will break upwards. He expects that the weekly opening next week will push upwards, forcing late shorts who have recently chased the market to cover their positions. In the worst-case scenario for bulls, BTC could deviate downwards to the $76,000 to $78,000 range. The analyst also clearly stated that he does not believe an extreme situation of sweeping down to $74,000 will occur.

The analysis agency Sentora stated that approximately $1.63 billion in Ethereum lending platforms were liquidated in the past year, with 89% completed through atomic paths. Atomic liquidation relies on DEX liquidity. The thin liquidity pools and the existence of whitelist transfer restrictions on RWA collateral will drive more liquidations towards off-chain market makers, RFQ, and solver paths.Atomic paths refer to the completion of collateral liquidation and debt repayment within the same on-chain transaction. Common methods include flash loans, self-funding advances, or direct contract calls. In contrast, RWA is often difficult to clear instantly on DEX, and liquidations will increasingly be handled by compliant off-chain market makers through price inquiries and solvers taking over collateral before completing the liquidation.

Citibank stated in its official insights report "Digital Frontier: Collateral in a Tokenized World" that as financial markets accelerate towards continuous, around-the-clock operations, collateral management is undergoing a structural evolution. Institutional-level tokenization is moving beyond isolated proof of concepts to establish scalable operational tracks on global banking, custody, and market infrastructure, making collateral a continuous liquidity and optimization engine.Citibank mentioned that combining tokenized assets with regulated on-chain settlement currencies can achieve instant atomic cash-to-cash transactions, eliminating multi-day gap risks and expanding the range of eligible collateral to include tools like tokenized money market funds. Global asset managers and asset owners will unify traditional and digital collateral into a single, continuously optimized inventory over many years of hybrid operating models, covering counterparties, custodians, and settlement venues.

Vitalik posted on the X platform to congratulate the @zksync Airbender team for achieving this milestone. He believes that the speed competition of zkEVMs has achieved a decisive victory, and the primary focus should shift entirely to security.Vitalik stated that this means there is a need to formally verify the equivalence of arithmetic and Ethereum specifications, the hard upper limit of the ratio of prover costs to total block Gas, and the security of the proof system itself.

According to Bloomberg, data shows that the total open interest of perpetual contracts on mainstream trading platforms has decreased from $81 billion to about $67 billion over the past year, while the open interest of contracts linked to real-world assets (RWA) has increased from nearly zero to $9 billion, accounting for 14% of the total. This indicates that the enthusiasm for leveraged trading in the crypto market has not yet returned to previous levels, and the related trading infrastructure is gradually expanding to traditional assets such as stocks and commodities.During the same period, the open interest of Bitcoin perpetual contracts decreased by about $8 billion, Ethereum by about $5 billion, and other tokens collectively decreased by about $10 billion, with the growth of traditional asset contracts only partially offsetting the aforementioned declines.

The Bank of America Global Fund Manager Survey shows that investors believe the yield on the 10-year U.S. Treasury bond reaching 5.9% will prompt a shift in asset allocation from stocks to bonds.

Recently, the Polkadot community submitted a proposal named DOT DAO Strategy Mandate on the SubSquare platform, advocating for a shift in the DAO's strategic focus from previous ecological scale expansion and locked asset growth to acquiring end users and real usage scenarios, and plans to build a user-oriented Polkadot Product Platform.Another core aspect of the proposal is the introduction of permissionless DOT collateralized stable assets called dotStables, with a priority support for dotUSD. This asset adopts a collateral model similar to Liquity, aiming to ultimately convert stablecoin demand into demand for DOT.In terms of platform design, it will be compatible with existing parachain infrastructure and emphasize user experiences such as Freemium model, mobile-first, self-custody, privacy protection, and no-login features. Currently, the proposal is still in the governance preparation stage.

Digital Asset co-founder and CEO Yuval Rooz stated at the Token2049 conference in Singapore that the crypto industry should leverage the current regulatory environment to accelerate institutional adoption, believing that the widespread use of blockchain will make it harder for future governments to reverse industry progress. He compared this opportunity to Uber and Airbnb, stating that both companies had established themselves before policymakers effectively restricted them, saying, "By the time people react and decide to legislate against these companies, it will be too late."Rooz indicated that the industry should ensure blockchain is widely used so that no matter what happens in 2028, "there is no turning back." The next U.S. presidential election is scheduled for November 7, 2028, which may bring changes in government and regulatory priorities. This statement comes in the context of the CLARITY Act failing to advance in the Senate procedural vote in September, while the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have been advancing crypto regulation based on existing authority.In the same Token2049 panel discussion, Binance co-CEO Richard Teng expressed hope that the CLARITY Act could still become law, believing that legislation could prevent regulatory backtracking and encourage institutional entry, calling the possibility of reversing current progress the industry's "greatest fear." Franklin Templeton CEO Jenny Johnson stated that legislation would provide greater certainty, but the industry should not rely on the passage of the CLARITY Act, as the SEC and CFTC are already working to provide regulatory clarity to sustain innovation and institutional adoption.

ChainCatcher live report, at the OKX NOW Global Product and Ecosystem Conference (Singapore), Ethereum co-founder Vitalik Buterin stated that AI has demonstrated strong penetration and offensive and defensive capabilities, with cases emerging of breaking out of sandboxes, attacking websites, and discovering various software vulnerabilities and exploits. "Anything with vulnerabilities will eventually be discovered by AI; GPT-7, Claude 7, DeepSeek 7 will find it."At the same time, AI is also helping the Ethereum protocol discover bugs, implement complex cryptography, and perform formal verification at both the protocol and application layers. Vitalik believes that higher security levels will shift from "optional" to "mandatory," and the industry is in a fascinating yet challenging transitional period.

According to The Wall Street Journal, Michael S. Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), announced on October 5 that the CFTC has officially proposed the first batch of regulatory rules for the cryptocurrency market, aimed at promoting innovation and protecting investors.Previously, due to Congress's failure to pass relevant bills clarifying the federal legal status of cryptocurrency assets, the CFTC and SEC turned to existing statutory powers to lead the formulation of market structure rules. During the previous administration, the two regulatory agencies primarily targeted cryptocurrency exchanges, custodians, and software developers through enforcement actions, resulting in a large number of cryptocurrency companies moving overseas.The introduction of the new rules marks an important shift in U.S. federal cryptocurrency regulation from "enforcement instead of legislation" to "proactive rule-making."