This week, stablecoin freeze powers functioned as a system-level safety valve: a Binance hot wallet lost approximately US$6.3 billion, and Tether and Circle froze about US$2.3 billion within hours

Official money went on-chain for real this week: the OCC finalised its GENIUS Act rule, HSBC's RedCoin became the first licensed retail HKD stablecoin live on PayMe.

Global Payments Weekly 2026W42: Visa Direct's USDC prefunding and Mastercard's BVNK-powered Global Money Platform went commercial in the same week,

ESMA gave EU-licensed firms three months to wind down USDT and other non-MiCA stablecoins, and Coinbase set 30 October as the EEA withdrawal deadline.

The US Senate's CLARITY Act failed 49–50, and within 48 hours regulators took over: the SEC issued an "innovation exemption" for tokenized stocks.

Bank-issued "tokenized dollars" went from rumour to delivery this week: 21 global institutions, including 17 G-SIBs, agreed to launch a joint stablecoin company

A week of sharp contrasts in payments: the Stripe/Advent consortium walked away from its $53B PayPal takeover — fintech's largest-ever buyout attempt

AI and stablecoins set the pace — Stripe agreed to buy OpenRouter for $7B+, Visa opened an RFP for a stablecoin settlement partner, and the US Treasury's GENIUS Act rules went out for comment. Klarna'

After breaking through key support, the market experienced a series of declines; the market has entered a period of extreme panic.

The current rebound is mainly driven by short covering and sentiment recovery. Risk appetite has improved marginally, but institutional funds have not yet significantly entered the market.

From November 1st to November 7th, Bitcoin's overall price movement followed a pattern of "sideways consolidation → rapid downward fluctuations → low-level rebound and recovery." The price primarily fluctuated between $111,000 and $101,000, experiencing a significant drop. On November 5th, it briefly fell below the psychological threshold of $100,000, hitting a new low for the past month. Affected by tightening macro liquidity and large-scale leverage liquidation, market sentiment shifted significantly towards caution, resulting in a short-term trend of low-level consolidation and weak recovery.

From October 25th to October 31st, Bitcoin exhibited a market rhythm of "first consolidating sideways → strong breakout → short covering leading to accelerated price increase → positive news priced in and subsequent pullback → wide-range fluctuations".

本周，比特币在经历低位横盘后逐步修复，并在关键宏观数据公布前迎来阶段性调整。

短期内震荡格局预计延续，短线交易仍需警惕突发反转风险。

This week, Bitcoin fluctuated widely. Affected by macro news, the overall market trend showed a three-stage trend of "sideways consolidation - retracement - strong rebound and high-level consolidation". From July 1 to 2, the market fluctuated downward due to the risk aversion of traders before the release of key US economic data. Investors are paying attention to the number of first-time unemployment claims to be announced on July 3, and look forward to more clear signals from the macro side. At the same time, the overall operation of Bitcoin mining was stable this week, and large mining companies showed significant competitive advantages in energy efficiency control and resource integration.

There is no selling by long-term holders, and the chips are highly concentrated.