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陳夕-资产数智观察
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陳夕-资产数智观察

关注全球资产、宏观、美股、Crypto与Web3。用一张图拆解市场逻辑、交易方法与风险管理。
牛来 Holder
牛来 Holder
High-Frequency Trader
2 Years
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161 Followers
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Posts
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Article
Russia’s central bank to ban direct crypto P2P trading from July 2027: the crypto market is entering the “licensed era”Russia has taken another important step in regulating cryptocurrency. The Central Bank of Russia has made its position clear: Starting July 1, 2027, individuals will no longer be able to trade cryptocurrencies directly with one another via P2P. In other words, the following commonly used method: Individual → individual Directly buying and selling crypto assets such as BTC and USDT will no longer be a trading method permitted under Russian law. In the future, Russian residents will generally need to trade cryptocurrencies through licensed intermediaries, such as regulated brokers and cryptocurrency exchange services. (Central Bank of Russia) But one point here requires special attention:

Russia’s central bank to ban direct crypto P2P trading from July 2027: the crypto market is entering the “licensed era”

Russia has taken another important step in regulating cryptocurrency.
The Central Bank of Russia has made its position clear:
Starting July 1, 2027, individuals will no longer be able to trade cryptocurrencies directly with one another via P2P.
In other words, the following commonly used method:
Individual → individual
Directly buying and selling crypto assets such as BTC and USDT will no longer be a trading method permitted under Russian law.
In the future, Russian residents will generally need to trade cryptocurrencies through licensed intermediaries, such as regulated brokers and cryptocurrency exchange services. (Central Bank of Russia)
But one point here requires special attention:
Tesla’s flying car is here! The all-new Roadster has officially been unveiled 🚀 Just now (October 15), Tesla unveiled the second-generation Roadster at the SpaceX site in Texas. It’s more than just a sports car—it can also briefly “fly” using cold-gas thrusters (SpaceX technology): • Race backward up a ramp • Flip in midair and land smoothly • Fly over a lineup of Tesla vehicles, including the Cybercab, Cybertruck, and Semi • Demonstrate 0–60 mph in just 0.81 seconds Three versions: • Performance (road version): two seats, a vacuum system, 0–60 mph in <1.6s, and a reservation deposit of around $50,000 • Thrust (track version): two seats + rear thrusters, 0–60 mph in <0.9s, and a higher reservation deposit • Rocket (airborne version): one seat + 10 cold-gas thrusters, capable of actually lifting off; invitation only Range is around 300 miles, top speed is over 230 mph, and mass production is planned for 2028. Musk posted: “Turns out the future does have flying cars.” Note: These are short hops/stunts, not long-range eVTOL flights. Road legality will depend on regulations. #特斯拉 $TSLAB #飞行汽车
Tesla’s flying car is here! The all-new Roadster has officially been unveiled 🚀
Just now (October 15), Tesla unveiled the second-generation Roadster at the SpaceX site in Texas. It’s more than just a sports car—it can also briefly “fly” using cold-gas thrusters (SpaceX technology):
• Race backward up a ramp
• Flip in midair and land smoothly
• Fly over a lineup of Tesla vehicles, including the Cybercab, Cybertruck, and Semi
• Demonstrate 0–60 mph in just 0.81 seconds
Three versions:
• Performance (road version): two seats, a vacuum system, 0–60 mph in <1.6s, and a reservation deposit of around $50,000
• Thrust (track version): two seats + rear thrusters, 0–60 mph in <0.9s, and a higher reservation deposit
• Rocket (airborne version): one seat + 10 cold-gas thrusters, capable of actually lifting off; invitation only
Range is around 300 miles, top speed is over 230 mph, and mass production is planned for 2028.
Musk posted: “Turns out the future does have flying cars.”
Note: These are short hops/stunts, not long-range eVTOL flights. Road legality will depend on regulations.
#特斯拉 $TSLAB #飞行汽车
Tesla’s flying car is here! The all-new Roadster was unveiled at a SpaceX facility, equipped with cold-gas thrusters: drive in reverse, flip in midair, and fly over an entire row of Teslas (including the Semi). 0–60 in just 0.81 seconds. Three versions: Performance / Thrust / Rocket. Production begins in 2028. Elon Musk: Flying cars will indeed be a reality in the future. #Tesla #飞行汽车 $TSLAB {spot}(TSLABUSDT)
Tesla’s flying car is here!
The all-new Roadster was unveiled at a SpaceX facility, equipped with cold-gas thrusters: drive in reverse, flip in midair, and fly over an entire row of Teslas (including the Semi). 0–60 in just 0.81 seconds.
Three versions: Performance / Thrust / Rocket. Production begins in 2028.
Elon Musk: Flying cars will indeed be a reality in the future.
#Tesla #飞行汽车
$TSLAB
Article
South Korean stocks rebound 2.8%, Japanese stocks rise 1.8%: a recovery after a sharp fall, or the start of easing risks?Asian stock markets have finally rebounded. But my assessment is that selling pressure has eased somewhat; whether the risks have receded remains to be seen, and more evidence is needed. A Reuters update at 10:52 a.m. Beijing time on October 16 showed South Korea’s KOSPI up 2.8% and Japan’s Nikkei up 1.8%. In the previous trading session, the two indexes had fallen nearly 8% and nearly 5%, respectively. These rebound figures are intraday data, not closing results. (reuters.com) The gains may look substantial, but losses and gains are not symmetrical. A simple example: if an index falls from 100 to 92 and then rises 2.8%, it only gets back to 94.58. A rebound can reduce losses, but it does not mean lost ground has been recovered.

South Korean stocks rebound 2.8%, Japanese stocks rise 1.8%: a recovery after a sharp fall, or the start of easing risks?

Asian stock markets have finally rebounded. But my assessment is that selling pressure has eased somewhat; whether the risks have receded remains to be seen, and more evidence is needed.
A Reuters update at 10:52 a.m. Beijing time on October 16 showed South Korea’s KOSPI up 2.8% and Japan’s Nikkei up 1.8%. In the previous trading session, the two indexes had fallen nearly 8% and nearly 5%, respectively. These rebound figures are intraday data, not closing results. (reuters.com)
The gains may look substantial, but losses and gains are not symmetrical. A simple example: if an index falls from 100 to 92 and then rises 2.8%, it only gets back to 94.58. A rebound can reduce losses, but it does not mean lost ground has been recovered.
Article
Global Asset Watch | October 16 Financial Morning BriefMarket recap: Last night through this morning U.S. stocks rebound: The Dow rose 1.08%, the S&P 500 gained 0.33%, and the Nasdaq rose just 0.08%. Funds rotate into defensive sectors : Healthcare and consumer stocks strengthen, while AI and high-valuation tech remain under pressure. Semiconductors remain weak : The SOX fell for a seventh consecutive trading session, with the sector still significantly underperforming the broader market. Nvidia falls another 1.8% , with AI chip stocks yet to stabilize meaningfully despite TSMC’s strong earnings report. Dell and HPE continue to plunge : Markets are concerned about returns on AI server investments and financing costs. CoreWeave debt risks intensify : Its roughly $50 billion in liabilities has become a focal point in the AI credit market.

Global Asset Watch | October 16 Financial Morning Brief

Market recap: Last night through this morning
U.S. stocks rebound: The Dow rose 1.08%, the S&P 500 gained 0.33%, and the Nasdaq rose just 0.08%.
Funds rotate into defensive sectors
: Healthcare and consumer stocks strengthen, while AI and high-valuation tech remain under pressure.
Semiconductors remain weak
: The SOX fell for a seventh consecutive trading session, with the sector still significantly underperforming the broader market.
Nvidia falls another 1.8%
, with AI chip stocks yet to stabilize meaningfully despite TSMC’s strong earnings report.
Dell and HPE continue to plunge
: Markets are concerned about returns on AI server investments and financing costs.
CoreWeave debt risks intensify
: Its roughly $50 billion in liabilities has become a focal point in the AI credit market.
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Bullish
📊 Global Asset Watch | Technical Trading Course | Issue No. 002 Candlestick Chart Basics: 4 Key Pieces of Information and Core Patterns Many people look at candlestick charts every day, but only focus on “red means up, green means down.” In fact, the four most important prices in a candlestick are: The open, high, low, and close. The body shows the change between the open and close; the upper and lower wicks show how far the price moved before being pulled back. When reading candlesticks, focus on: ① Body size: assess the strength of buying and selling pressure ② Upper and lower wicks: observe whether prices at the highs or lows were clearly rejected ③ Where it appears: the same pattern can mean different things at support and resistance ④ The surrounding structure: don’t judge it in isolation from the trend Common patterns include: Doji: buyers and sellers are temporarily balanced Hammer: buying support may emerge at a low Long upper wick: selling pressure may be present at a high Engulfing pattern: short-term momentum may be shifting But keep in mind: A candlestick pattern is not a “trade as soon as you see it” button. For a truly effective assessment, consider: Trend + support and resistance + volume + multi-timeframe structure In a nutshell: Candlesticks don’t predict the future; they record the real battle between buyers and sellers. 📌 Next issue | Saturday Trading in Practice | Issue No. 002 “How do you create a complete trading plan? From entry and stop-loss to take-profit” #技术分析参考 #trading $BTC {future}(BTCUSDT)
📊 Global Asset Watch | Technical Trading Course | Issue No. 002

Candlestick Chart Basics: 4 Key Pieces of Information and Core Patterns

Many people look at candlestick charts every day, but only focus on “red means up, green means down.”

In fact, the four most important prices in a candlestick are:

The open, high, low, and close.

The body shows the change between the open and close;
the upper and lower wicks show how far the price moved before being pulled back.

When reading candlesticks, focus on:

① Body size: assess the strength of buying and selling pressure
② Upper and lower wicks: observe whether prices at the highs or lows were clearly rejected
③ Where it appears: the same pattern can mean different things at support and resistance
④ The surrounding structure: don’t judge it in isolation from the trend

Common patterns include:

Doji: buyers and sellers are temporarily balanced
Hammer: buying support may emerge at a low
Long upper wick: selling pressure may be present at a high
Engulfing pattern: short-term momentum may be shifting

But keep in mind:

A candlestick pattern is not a “trade as soon as you see it” button.

For a truly effective assessment, consider:

Trend + support and resistance + volume + multi-timeframe structure

In a nutshell:

Candlesticks don’t predict the future; they record the real battle between buyers and sellers.

📌 Next issue | Saturday Trading in Practice | Issue No. 002
“How do you create a complete trading plan? From entry and stop-loss to take-profit”

#技术分析参考 #trading $BTC
Article
Tech stocks are falling, but the Dow is rising: What is the U.S. stock market choosing to believe in now?Tonight, the divergence in U.S. stocks after the market opened is more noteworthy than the indexes’ gains or losses themselves. According to Reuters, at 9:50 p.m. Beijing time on October 15, the Dow was up 0.32%, the S&P 500 was down 0.42%, and the Nasdaq Composite was down 1.06%. At the same time, both the health care and consumer staples sectors were up more than 2%. This is an intraday snapshot after the opening bell, not the closing result. Why is the same market moving in two different directions? First, the stocks represented by each index and their weightings differ. The Dow is price-weighted, while the Nasdaq is market-cap-weighted, so technology companies have a greater influence on the latter. As a result, major tech stocks can fall while the Dow rises; neither index alone can tell us whether the U.S. stock market as a whole is strong or weak.

Tech stocks are falling, but the Dow is rising: What is the U.S. stock market choosing to believe in now?

Tonight, the divergence in U.S. stocks after the market opened is more noteworthy than the indexes’ gains or losses themselves.
According to Reuters, at 9:50 p.m. Beijing time on October 15, the Dow was up 0.32%, the S&P 500 was down 0.42%, and the Nasdaq Composite was down 1.06%. At the same time, both the health care and consumer staples sectors were up more than 2%. This is an intraday snapshot after the opening bell, not the closing result.
Why is the same market moving in two different directions?
First, the stocks represented by each index and their weightings differ. The Dow is price-weighted, while the Nasdaq is market-cap-weighted, so technology companies have a greater influence on the latter. As a result, major tech stocks can fall while the Dow rises; neither index alone can tell us whether the U.S. stock market as a whole is strong or weak.
Article
Gold rebounds more than 1%—will tonight’s 20:30 PPI change its direction?Gold has rebounded. Tonight’s U.S. inflation data will test whether this rally can continue. According to Reuters, as of 19:24 Beijing time on October 15, spot gold was around $4,156.58 per ounce, up 1.3% on the day. A pullback in the dollar and Treasury yields has provided support. The U.S. September PPI will be released tonight at 20:30. (reuters.com, bls.gov) My view: A gain of more than 1% is not enough to confirm a trend reversal. The next thing to watch is whether the conditions supporting the rebound can persist. The PPI tracks changes in the prices producers receive for goods and services in the United States. It affects gold mainly through market expectations for inflation and the Federal Reserve’s interest rate path.

Gold rebounds more than 1%—will tonight’s 20:30 PPI change its direction?

Gold has rebounded. Tonight’s U.S. inflation data will test whether this rally can continue.
According to Reuters, as of 19:24 Beijing time on October 15, spot gold was around $4,156.58 per ounce, up 1.3% on the day. A pullback in the dollar and Treasury yields has provided support. The U.S. September PPI will be released tonight at 20:30. (reuters.com, bls.gov)
My view: A gain of more than 1% is not enough to confirm a trend reversal. The next thing to watch is whether the conditions supporting the rebound can persist.
The PPI tracks changes in the prices producers receive for goods and services in the United States. It affects gold mainly through market expectations for inflation and the Federal Reserve’s interest rate path.
Article
South Korean Stocks Plunge 7.57%, Triggering a Circuit Breaker: What’s Happening to the AI and Semiconductor Rally?On October 15, South Korea’s stock market suffered a steep sell-off. The KOSPI closed down 7.57% at 5,554.22 points, marking its seventh consecutive session of losses and its lowest close in about six months. It fell more than 8% at one point during the session, triggering a circuit breaker and a 20-minute trading halt. (en.yna.co.kr) More notable were the biggest decliners: Samsung Electronics fell 9.48%, while SK Hynix dropped 11.06%. The simultaneous plunge by the two semiconductor giants made the sell-off a telling gauge of sentiment toward global tech stocks. (en.sedaily.com) 1. Why did the market fall so sharply? Reports that day pointed to two main sources of pressure: interest-rate concerns fueled by U.S. inflation, and doubts about the sustainability of AI investment. (reuters.com)

South Korean Stocks Plunge 7.57%, Triggering a Circuit Breaker: What’s Happening to the AI and Semiconductor Rally?

On October 15, South Korea’s stock market suffered a steep sell-off.
The KOSPI closed down 7.57% at 5,554.22 points, marking its seventh consecutive session of losses and its lowest close in about six months. It fell more than 8% at one point during the session, triggering a circuit breaker and a 20-minute trading halt. (en.yna.co.kr)
More notable were the biggest decliners: Samsung Electronics fell 9.48%, while SK Hynix dropped 11.06%. The simultaneous plunge by the two semiconductor giants made the sell-off a telling gauge of sentiment toward global tech stocks. (en.sedaily.com)
1. Why did the market fall so sharply?
Reports that day pointed to two main sources of pressure: interest-rate concerns fueled by U.S. inflation, and doubts about the sustainability of AI investment. (reuters.com)
Article
HEX Founder Richard Heart Reportedly Arrested in Istanbul: Who Bears the Risks Founders Take?HEX Founder Richard Heart Reportedly Arrested in Istanbul: Who Bears the Risks Founders Take? Richard Heart is once again in the crypto market spotlight. According to a report by Turkish media outlet Daily Sabah on October 14, citing the İhlas News Agency (IHA), Richard Heart, founder of HEX and PulseChain, was detained in Istanbul. His wife was also detained during the operation. Local police carried out the operation with support from Turkey’s National Intelligence Organization. The report said it was linked to an Interpol Red Notice requested by Finland. (dailysabah.com) For token holders, the question to watch is: to what extent will this personal legal dispute affect the projects involved?

HEX Founder Richard Heart Reportedly Arrested in Istanbul: Who Bears the Risks Founders Take?

HEX Founder Richard Heart Reportedly Arrested in Istanbul: Who Bears the Risks Founders Take?
Richard Heart is once again in the crypto market spotlight.
According to a report by Turkish media outlet Daily Sabah on October 14, citing the İhlas News Agency (IHA), Richard Heart, founder of HEX and PulseChain, was detained in Istanbul. His wife was also detained during the operation. Local police carried out the operation with support from Turkey’s National Intelligence Organization. The report said it was linked to an Interpol Red Notice requested by Finland. (dailysabah.com)
For token holders, the question to watch is: to what extent will this personal legal dispute affect the projects involved?
Article
Inflation heats up—why did gold fall instead?Many people have an intuitive belief: when prices rise, money loses purchasing power, so gold should become more valuable. But the market reaction to the release of September’s U.S. CPI figures was exactly the opposite. On October 14, the U.S. reported that September CPI rose 3.7% year over year, up from 3.4% in August. Core CPI rose 0.3% month over month and 2.6% year over year. The market then increased its bets on a Fed rate hike, sending the dollar and Treasury yields higher, while gold fell more than 1% during the session. This may seem contradictory, but it reveals an often-overlooked dynamic in gold trading: the market cares about inflation, but it also cares about how the Federal Reserve will respond to it.

Inflation heats up—why did gold fall instead?

Many people have an intuitive belief: when prices rise, money loses purchasing power, so gold should become more valuable.
But the market reaction to the release of September’s U.S. CPI figures was exactly the opposite.
On October 14, the U.S. reported that September CPI rose 3.7% year over year, up from 3.4% in August. Core CPI rose 0.3% month over month and 2.6% year over year. The market then increased its bets on a Fed rate hike, sending the dollar and Treasury yields higher, while gold fell more than 1% during the session.
This may seem contradictory, but it reveals an often-overlooked dynamic in gold trading: the market cares about inflation, but it also cares about how the Federal Reserve will respond to it.
🌐 Global Asset Watch|Web3 Encyclopedia|Issue 002 What exactly is blockchain? Why is its data so difficult to tamper with? Blockchain can be understood as a distributed ledger maintained jointly by multiple nodes. A transaction is initiated, broadcast, verified, packaged into a block, and then cryptographically linked to existing blocks, ultimately forming a continuous “chain.” It is difficult to tamper with for three main reasons: Chain structure + distributed storage + consensus mechanism In other words, changing historical records doesn’t just mean altering data on one server. It requires affecting a large number of nodes and subsequent blocks, making it extremely costly. But keep in mind: Blockchain isn’t absolutely impossible to modify; it simply makes tampering extremely difficult, costly, and easy to detect. In a nutshell: The value of blockchain lies not only in “decentralization,” but also in improving data credibility, transparency, and verifiability. 📌 Coming next|Friday Trading Techniques Class|Issue 002 “Candlestick Chart Basics: 4 Key Pieces of Information and Core Patterns to Understand” #Web3 #区块链 #blockchain #Crypto $BTC {future}(BTCUSDT)
🌐 Global Asset Watch|Web3 Encyclopedia|Issue 002

What exactly is blockchain? Why is its data so difficult to tamper with?

Blockchain can be understood as a distributed ledger maintained jointly by multiple nodes.

A transaction is initiated, broadcast, verified, packaged into a block, and then cryptographically linked to existing blocks, ultimately forming a continuous “chain.”

It is difficult to tamper with for three main reasons:

Chain structure + distributed storage + consensus mechanism

In other words, changing historical records doesn’t just mean altering data on one server. It requires affecting a large number of nodes and subsequent blocks, making it extremely costly.

But keep in mind:

Blockchain isn’t absolutely impossible to modify; it simply makes tampering extremely difficult, costly, and easy to detect.

In a nutshell:

The value of blockchain lies not only in “decentralization,” but also in improving data credibility, transparency, and verifiability.

📌 Coming next|Friday Trading Techniques Class|Issue 002
“Candlestick Chart Basics: 4 Key Pieces of Information and Core Patterns to Understand”

#Web3 #区块链 #blockchain #Crypto $BTC
Article
September CPI Ahead: Crude Oil Hovers at Elevated Levels—Could U.S. Treasuries Turn a Corner?GLOBAL ASSET WATCH At 8:30 p.m. Beijing time tonight, the U.S. will release September CPI. The key issue in this report is the divergence between rising energy prices and core inflation: Oil prices are pushing up the cost of living, but will price increases for other goods and services also accelerate? (bls.gov) My assessment: Crude oil still has supply risks supporting prices in the short term, and U.S. Treasuries have room to rebound, but it is still too early to confirm a trend reversal. 1. What really matters tonight? A Reuters poll forecasts that headline CPI will rise 3.6% year over year in September, up from 3.4% previously, and 0.6% month over month, up from 0.4%. Core CPI is expected to rise 0.2% month over month, down from 0.3% previously, and 2.5% year over year. These are forecasts; the actual data have not yet been released. (reuters.com)

September CPI Ahead: Crude Oil Hovers at Elevated Levels—Could U.S. Treasuries Turn a Corner?

GLOBAL ASSET WATCH
At 8:30 p.m. Beijing time tonight, the U.S. will release September CPI. The key issue in this report is the divergence between rising energy prices and core inflation: Oil prices are pushing up the cost of living, but will price increases for other goods and services also accelerate? (bls.gov)
My assessment: Crude oil still has supply risks supporting prices in the short term, and U.S. Treasuries have room to rebound, but it is still too early to confirm a trend reversal.
1. What really matters tonight?
A Reuters poll forecasts that headline CPI will rise 3.6% year over year in September, up from 3.4% previously, and 0.6% month over month, up from 0.4%. Core CPI is expected to rise 0.2% month over month, down from 0.3% previously, and 2.5% year over year. These are forecasts; the actual data have not yet been released. (reuters.com)
Article
Ledger asks Southeast Asia and Hong Kong to suspend sales: The real risk of hardware wallets may not be on-chainLedger's security incident continues to widen. On October 13, Ledger asked resellers and distributors in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia, and Hong Kong to suspend sales of Ledger devices and temporarily remove the products from sale until the investigation is complete. (Cointelegraph) It began when some users who had purchased Ledger devices through the Southeast Asian reseller CryptoBilis reported that their assets had been stolen. Ledger later confirmed that an unauthorized hardware implant had been found in at least one related device. (CoinDesk) This changes the nature of the issue.

Ledger asks Southeast Asia and Hong Kong to suspend sales: The real risk of hardware wallets may not be on-chain

Ledger's security incident continues to widen.
On October 13, Ledger asked resellers and distributors in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia, and Hong Kong to suspend sales of Ledger devices and temporarily remove the products from sale until the investigation is complete. (Cointelegraph)
It began when some users who had purchased Ledger devices through the Southeast Asian reseller CryptoBilis reported that their assets had been stolen. Ledger later confirmed that an unauthorized hardware implant had been found in at least one related device. (CoinDesk)
This changes the nature of the issue.
Article
Is China's Memory Chip Industry Catching Up? How Advanced Is CXMT?Recently, the global memory chip market has once again turned its attention to a Chinese company: ChangXin Memory Technologies, or CXMT. The stock prices of memory giants such as Samsung, SK hynix, and Micron have recently come under pressure. One important factor is that the market has begun reassessing how quickly China's DRAM industry is catching up. In particular, as CXMT advances its 4F² DRAM architecture and plans to apply the related technology to server DDR5, one question is attracting increasing attention: How far has China's DRAM industry actually come? The answer is actually quite clear: Traditional DRAM has rapidly approached international mainstream levels, but a significant gap remains in high-end memory for AI, such as HBM.

Is China's Memory Chip Industry Catching Up? How Advanced Is CXMT?

Recently, the global memory chip market has once again turned its attention to a Chinese company:
ChangXin Memory Technologies, or CXMT.
The stock prices of memory giants such as Samsung, SK hynix, and Micron have recently come under pressure. One important factor is that the market has begun reassessing how quickly China's DRAM industry is catching up.
In particular, as CXMT advances its 4F² DRAM architecture and plans to apply the related technology to server DDR5, one question is attracting increasing attention:
How far has China's DRAM industry actually come?
The answer is actually quite clear:
Traditional DRAM has rapidly approached international mainstream levels, but a significant gap remains in high-end memory for AI, such as HBM.
🌐 Global Asset Watch|Crypto Class|Issue 001 What exactly are perpetual contracts? How are they different from spot trading? When many people are new to crypto, they tend to confuse spot trading with perpetual contracts. The simplest way to understand them: Spot = Buy and hold an asset Perpetual contract = Trade the price direction of an asset For example, if you use USDT to buy BTC on the spot market, you actually own BTC. You generally profit when its price rises, and ordinary spot trading does not involve contract liquidation. Perpetual contracts, on the other hand, are derivatives with no fixed expiration date. They let you: 📈 Go Long: Bet on prices rising 📉 Go Short: Bet on prices falling ⚙️ Use leverage: Make your capital go further To keep perpetual contract prices as close as possible to spot prices, there is an important mechanism: Funding Rate Typically: Positive funding rate → Longs pay shorts Negative funding rate → Shorts pay longs Although perpetual contracts allow trading in both directions, they also carry higher risks, including: Leverage risk, liquidation risk, funding costs, and sharp price swings. One thing to keep in mind: Leverage won’t make your judgment more accurate. It only makes gains and losses change faster relative to your margin. So what really matters isn’t how much leverage you use, but: Position management + stop-losses + leverage control + trading discipline. In a nutshell: Spot trading is more about “holding an asset,” while perpetual contracts are more about “trading price direction.” 📌 Next issue|Thursday Web3 Encyclopedia|Issue 002 “What exactly is blockchain? Why is its data so difficult to tamper with?” #crypto #Web3 $BNB {future}(BNBUSDT) $ETH {future}(ETHUSDT)
🌐 Global Asset Watch|Crypto Class|Issue 001

What exactly are perpetual contracts? How are they different from spot trading?

When many people are new to crypto, they tend to confuse spot trading with perpetual contracts.

The simplest way to understand them:

Spot = Buy and hold an asset
Perpetual contract = Trade the price direction of an asset

For example, if you use USDT to buy BTC on the spot market, you actually own BTC. You generally profit when its price rises, and ordinary spot trading does not involve contract liquidation.

Perpetual contracts, on the other hand, are derivatives with no fixed expiration date. They let you:

📈 Go Long: Bet on prices rising
📉 Go Short: Bet on prices falling
⚙️ Use leverage: Make your capital go further

To keep perpetual contract prices as close as possible to spot prices, there is an important mechanism:

Funding Rate

Typically:

Positive funding rate → Longs pay shorts
Negative funding rate → Shorts pay longs

Although perpetual contracts allow trading in both directions, they also carry higher risks, including:

Leverage risk, liquidation risk, funding costs, and sharp price swings.

One thing to keep in mind:

Leverage won’t make your judgment more accurate. It only makes gains and losses change faster relative to your margin.

So what really matters isn’t how much leverage you use, but:

Position management + stop-losses + leverage control + trading discipline.

In a nutshell:

Spot trading is more about “holding an asset,” while perpetual contracts are more about “trading price direction.”

📌 Next issue|Thursday Web3 Encyclopedia|Issue 002
“What exactly is blockchain? Why is its data so difficult to tamper with?”

#crypto #Web3 $BNB
$ETH
Article
Thailand Officially Opens the Door to Bitcoin and Ethereum ETFs: Competition in Asia’s Crypto Finance Sector IntensifiesA new shift is underway in Asia’s Crypto landscape. On October 8, 2026, the Securities and Exchange Commission of Thailand (SEC) officially issued regulations for Crypto ETFs, which will take effect on October 16. In the first phase, the underlying assets eligible for ETF investment are Bitcoin (BTC) and Ethereum (ETH). This means that Thai investors will be able to trade regulated Crypto ETFs on the Stock Exchange of Thailand (SET) through traditional securities accounts, without having to register directly with a cryptocurrency exchange, manage private keys, or hold BTC and ETH. Crypto is thus becoming further integrated into Asia’s traditional financial system. (Securities and Exchange Commission of Thailand)

Thailand Officially Opens the Door to Bitcoin and Ethereum ETFs: Competition in Asia’s Crypto Finance Sector Intensifies

A new shift is underway in Asia’s Crypto landscape.
On October 8, 2026, the Securities and Exchange Commission of Thailand (SEC) officially issued regulations for Crypto ETFs, which will take effect on October 16. In the first phase, the underlying assets eligible for ETF investment are Bitcoin (BTC) and Ethereum (ETH).
This means that Thai investors will be able to trade regulated Crypto ETFs on the Stock Exchange of Thailand (SET) through traditional securities accounts, without having to register directly with a cryptocurrency exchange, manage private keys, or hold BTC and ETH. Crypto is thus becoming further integrated into Asia’s traditional financial system. (Securities and Exchange Commission of Thailand)
Article
UK High Court rules that Chinese law applies in the Qian Zhimin case: The real fight over 61,000 bitcoins is only just beginningThe Qian Zhimin case has reached a very significant turning point. On October 12, 2026, the High Court of England and Wales ruled in Director of Public Prosecutions v Zhimin Qian & Anor [2026] EWHC 2509 (KB): With regard to victims’ claims to more than 61,000 bitcoins in the Qian Zhimin case, the core substantive issues should be governed by Chinese law, not English law. But there is one point here that is very easy to misunderstand. This does not mean that the English court has ruled that the bitcoins belong to China, that the bitcoins have been awarded to Chinese victims, or that the UK government has acquired these assets.

UK High Court rules that Chinese law applies in the Qian Zhimin case: The real fight over 61,000 bitcoins is only just beginning

The Qian Zhimin case has reached a very significant turning point.
On October 12, 2026, the High Court of England and Wales ruled in Director of Public Prosecutions v Zhimin Qian & Anor [2026] EWHC 2509 (KB):
With regard to victims’ claims to more than 61,000 bitcoins in the Qian Zhimin case, the core substantive issues should be governed by Chinese law, not English law.
But there is one point here that is very easy to misunderstand.
This does not mean that the English court has ruled that the bitcoins belong to China, that the bitcoins have been awarded to Chinese victims, or that the UK government has acquired these assets.
Strategy Buys Another 250 BTC Strategy now holds a total of 848,250 BTC, with an average cost basis of approximately $75,444. In terms of market impact, 250 BTC is a relatively small amount compared with Strategy’s existing holdings and overall market liquidity, so its direct effect on short-term supply and demand is limited. Still, this latest purchase sends an important signal: Strategy has not changed its long-term Bitcoin accumulation strategy, and the rationale for institutional Bitcoin allocation has not changed significantly for now. Therefore, this news is more of a medium- to long-term positive, but it is not enough on its own to justify chasing a short-term rally. The short-term trend still needs to be confirmed by price action. The key area to watch next is $86,000–$86,500. This zone is close to the average price of this purchase and could also be a key level for gauging the balance of power between bulls and bears: * A breakout and sustained hold: This would indicate that the market has reclaimed a key cost-basis zone, potentially helping the bullish structure recover; * A rally followed by a pullback: This would suggest that significant selling pressure remains overhead and that the positive news has yet to translate into a decisive breakout; * Continued resistance and the formation of a Lower High: This would indicate that the short-term trend remains weak, so this purchase should not be treated as a reversal signal. Overall, Strategy’s continued accumulation reinforces medium- to long-term confidence, but whether the short-term outlook turns bullish still depends on whether BTC can break above and hold key price levels. News provides direction; price structure provides confirmation. #Strategy增持250枚比特币 {future}(BTCUSDT)
Strategy Buys Another 250 BTC

Strategy now holds a total of 848,250 BTC, with an average cost basis of approximately $75,444.

In terms of market impact, 250 BTC is a relatively small amount compared with Strategy’s existing holdings and overall market liquidity, so its direct effect on short-term supply and demand is limited. Still, this latest purchase sends an important signal: Strategy has not changed its long-term Bitcoin accumulation strategy, and the rationale for institutional Bitcoin allocation has not changed significantly for now.

Therefore, this news is more of a medium- to long-term positive, but it is not enough on its own to justify chasing a short-term rally. The short-term trend still needs to be confirmed by price action.

The key area to watch next is $86,000–$86,500. This zone is close to the average price of this purchase and could also be a key level for gauging the balance of power between bulls and bears:

* A breakout and sustained hold: This would indicate that the market has reclaimed a key cost-basis zone, potentially helping the bullish structure recover;
* A rally followed by a pullback: This would suggest that significant selling pressure remains overhead and that the positive news has yet to translate into a decisive breakout;
* Continued resistance and the formation of a Lower High: This would indicate that the short-term trend remains weak, so this purchase should not be treated as a reversal signal.

Overall, Strategy’s continued accumulation reinforces medium- to long-term confidence, but whether the short-term outlook turns bullish still depends on whether BTC can break above and hold key price levels.

News provides direction; price structure provides confirmation.
#Strategy增持250枚比特币
Article
SK hynix plunges as South Korean semiconductor stocks pull back across the board: Is the memory supercycle over?Recently, SK hynix, Samsung Electronics, and South Korea’s semiconductor sector have pulled back sharply, while U.S. memory stocks such as Micron, SanDisk, and Western Digital have also come under pressure. Many people are starting to worry: Is the memory supercycle driven by AI over? My view is: There is not yet enough evidence to show that the memory industry’s fundamentals have already reversed. This downturn looks more like: Concerns about competition from China in memory + valuation pullbacks after outsized gains + high oil prices and interest rates + overcrowded AI trades A repricing driven by these factors combined. I. The most immediate trigger: CXMT

SK hynix plunges as South Korean semiconductor stocks pull back across the board: Is the memory supercycle over?

Recently, SK hynix, Samsung Electronics, and South Korea’s semiconductor sector have pulled back sharply, while U.S. memory stocks such as Micron, SanDisk, and Western Digital have also come under pressure.
Many people are starting to worry:
Is the memory supercycle driven by AI over?
My view is:
There is not yet enough evidence to show that the memory industry’s fundamentals have already reversed.
This downturn looks more like:
Concerns about competition from China in memory + valuation pullbacks after outsized gains + high oil prices and interest rates + overcrowded AI trades
A repricing driven by these factors combined.
I. The most immediate trigger: CXMT
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