Pal BTC Daily Market Report - November 10th I. Candlestick Charts 1. Daily Chart (Figure 1) 1) After the drop to 749, there was a rebound yesterday, reaching a high of 756. However, despite the rebound during the Asian session this morning, BTC has been trending downwards in a volatile manner today. It remains relatively weak, and with tonight's CPI data, we need to wait and see. 2) Currently, the support levels to watch are around 730 and 71. There is still a high probability of testing these levels. 2. Hourly Chart (Figure 2) The current hourly trading range is still 735-757. We can see that the price is converging within this range, and we are waiting for a directional decision. The downside target is to test 73 after the drop to 735. The upside target is to test the H1 bearish oblique level at 76. II. Data, US Stocks, Macroeconomics 1. Data 1) BTC ETF The BTC ETF market continued the deep deleveraging and redemption wave that began in the latter half of last week, recording a net outflow of over $200 million for the third consecutive trading day. IBIT saw another outflow of -$213 million, but the panic has stopped spreading (from seven ETFs simultaneously dumping shares to only IBIT leading the sell-off). Currently, the entire market is waiting for BlackRock to stop the bleeding—if IBIT redemptions shrink to below $50 million in the next 1-2 days, this liquidity drain of over $1 billion may have bottomed out. 2) Liquidation and Margin Calls Margin Calls: 1D 40.06M (Long 23.49M / Short 16.57M), long positions were liquidated more frequently; 12h 6.26M (Long 3.64M / Short 2.62M), the market has cooled significantly in the last 12 hours, with long and short positions roughly equal. Liquidation Status (Figure 3): Maximum upside: 75850-76400 (188.6M), 77000; Maximum downside: 73650-73000 (185.5M). Currently, there is more liquidation data on the upside, indicating a greater likelihood of liquidation on the upside. 2. US Stocks US stocks rebounded strongly overnight, with the S&P 500 up 2.35%, but NVDA declined against the trend; the sharp drop in oil prices eased inflationary pressures, a key factor behind yesterday's US stock rebound; however, the independent risks of NVDA and the divergence in strength within the AI sector remain worth noting. Tonight's US October CPI is the primary trading event. 3. News: 1) Listed mining company MARA reported in its Q3 earnings report that it sold 13,597 BTC, approximately $1.1 billion, resulting in a 35% decrease in revenue; simultaneously, it is pushing its AI and energy businesses. Major mining companies selling coins signals supply-side pressure. 2) OKXICE, a tokenized stock platform in which OKX participates: 56 out of 62 companies opposed listing their own stocks, and the remaining 6 are all related to crypto. Robinhood stated it did not oppose it. Tokenization in the US stock market faces significant resistance. III. Trading Recommendations Currently, BTC is relatively weak before the CPI release, not even reaching 76. Today, we should wait for the CPI results. Upside target: H1 bearish oblique test at 76. Downside target: Buy opportunity after a pullback to 735 followed by a test of 73. For more real-time information, please join our community: http://t.me/pabuerbtc