Pro-crypto Republican Byron Donalds has won Florida’s governor race. He defeated Democrat David Jolly to become Florida’s first Black governor. Donalds has also pushed for Bitcoin legislation, introducing the Reserve and Stockpile Act to put Trump’s Strategic Bitcoin Reserve into law. A major political win for a figure who has backed the US Bitcoin reserve.
Meta is seeking up to $25 billion in new debt to continue its AI buildout A $20–25 billion bond is on offer to finance data centres and advanced AI models, with debt issued in both US dollars and euros Meta has forecast $135–145 billion in capital expenditure for 2026, while reporting negative free cash flow of $2.12 billion in the third quarter S&P Global recently downgraded Meta's credit outlook from stable to negative
Nvidia has moved to restrict China's access to AI hardware Nvidia has instructed global data centre partners to ensure at least 51% of their services are sold to non-Chinese companies The guidance applies to future contracts, targeting overseas cloud providers that allow Chinese technology firms to access advanced Nvidia chips without importing them directly The U.S. has begun tightening exports, with Nvidia's B300 server racks selling for $2.8 million in China, compared with approximately $600,000 internationally
Bill Ackman has warned that the stock market is becoming a casino Ackman highlighted three key contributors: - Excessive leverage - Leveraged trading products - Perpetual futures He compared current conditions to previous periods of highly leveraged speculation, warning that the trend is unhealthy for financial markets Despite his concerns, his firm, Pershing Square has used recent volatility to buy shares in Microsoft, Amazon and Alphabet at discounted valuations
🇺🇸 US midterm election day is finally here. All 435 House seats and 35 Senate seats are being contested, with control of Congress at stake. The result could influence the policy outlook for crypto and broader markets. But I’m not treating the election as a Bitcoin signal on its own. I want to see how BTC reacts as results come in before drawing conclusions.
South Korea is flashing a warning for the AI trade. The KOSPI fell 3.6% today and is now roughly 40% below its June peak. Markets are questioning whether AI spending can justify the valuations. I’m watching to see if the sell-off spreads to US tech. https://t.co/D0VlbA6At4
Bitcoin has slipped below $77K again as the tech stock sell-off deepens. The Nasdaq 100 has now fallen 10% from its high, while the US semiconductor index has suffered a 12% decline over three sessions. Crypto is feeling the pressure too. ZEC dropped nearly 10%, SOL lost around 3%, and BNB slipped below $700. This is a reminder that BTC is still heavily exposed to wider risk appetite. I want to see technology stocks stabilise before expecting a convincing recovery across crypto.
US spot Bitcoin ETFs just recorded another day of inflows. The funds attracted a combined 85.55 BTC on Monday, worth approximately $6.7M. But there's something worth pointing out here. Fidelity's FBTC accounted for the entire inflow, while the other funds recorded zero net flows. That's a pretty small amount of buying, especially after the ETFs saw 8,250 BTC in net outflows on October 30. The bigger picture is still impressive, with cumulative net inflows now sitting at $57.44 BILLION, equivalent to around 717,400 BTC. Total net assets across the funds stand at $102.77 BILLION. I think the important distinction is that long-term ETF demand remains substantial, but we're not seeing particularly strong fresh buying right now. I'd like to see several consecutive sessions of stronger inflows, spread across multiple funds, before calling this a meaningful return of institutional demand. The capital is there. The question is whether institutions are ready to start deploying it again.
Bitcoin is approaching a pretty important level here. $BTC has lost $79,500, which had been acting as support, and the latest bounce has failed to reclaim it. We've now got a clear sequence of lower highs on the 4H chart, with the rejection around $84,800 followed by another failed recovery towards $78,700. The level I'm paying close attention to now is $76,400. If Bitcoin loses that support on a convincing 4H close, I think we could see another leg lower. On the other hand, if buyers manage to defend it and push price back above $79,500, that would be the first sign that the immediate selling pressure is easing. Above there, $83,500 is the next major hurdle, followed by $87,000. I wouldn't be rushing to call a bottom just because BTC is testing support. The structure is still bearish, and bulls need to prove they can reclaim lost levels before the outlook starts to improve.
HUGE: Tether holds approximately 150,000 BTC. CEO Paolo Ardoino says the company’s Bitcoin stash is now worth over $11.55 BILLION. Tether is building one of the largest corporate BTC positions in the world. 👀 https://t.co/OFysYw89ns
