Bitcoin records fresh bear market low at $17,500, was this the bottom?

newsbtcPubblicato 2022-11-09Pubblicato ultima volta 2022-11-09

Introduzione

The crypto market is trading in the red, with Bitcoin and other cryptocurrencies recording double-digit losses over today’s trading session. The number one cryptocurrency retraces its profits from last week...

At the time of writing, Bitcoin (BTC) trades at $18,200, with a 13% loss in the last 24 hours and an 11% loss in the previous seven days. Other cryptocurrencies in the crypto top 10 by market cap are following a similar trajectory, with Dogecoin (DOGE) showing the highest losses over this period.

BTC’s price is trending to the downside. Source: BTCUSDT Tradingview

Bitcoin Crashes Amid FTX “Lehman Moment”
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The crypto market is reacting to the events related to FTX and Binance. Dubbed the “Crypto Exchange Wars,” Binance emerged victorious when FTX confirmed a deal to surrender its assets, except for FTX.US.
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The Sam Bankman-Fried led platform could not redeem its users’ new request for withdrawal. According to reports, the venue was missing as much as $6 billion and was forced to halt its operations.
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Amid this uncertainty, the crypto market and Bitcoin faced immense selling pressure. Rumors have surfaced about Alameda, FTX’s trading arm, possibly liquidating its BTC to cover some of its losses, but the team behind the platform has no official statement.
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There is speculation about the current state of the market, which has been reflected in Bitcoin and other cryptocurrencies. In addition, the U.S. Midterm election is adding more uncertainty into the mix.

NewsBTC reported yesterday that a Republican win could be bullish for crypto and digital assets. This party has been more prone to support the industry and crypto projects when compared to the Democratic party.
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BitMEX Founder Arthur Hayes published his perception of the future of Bitcoin and the crypto industry. Hayes seems bearish as he announced the acquisition of puts (sell) option contracts for Bitcoin.
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These contracts have a strike price of $15,000, meaning they can exercise if BTC’s price records another fresh low and crashes into $15,000 to $14,000 or much lower.

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However, the crypto market has withstood massive stress and several capitulation events. A Lehman moment in the industry might signal a bottom, not more downside. In addition, Hayes has publicly stated its bullish stand on the crypto market.

Letture associate

Blockchain Forum 2026 Brings Together 16 388 Participants in Moscow

Blockchain Forum 2026, held at Crocus Expo in Moscow, became one of the world's largest and most prestigious events in crypto, digital assets, and AI, attracting 16,388 participants. It served as a key platform for shaping market trends and fostering high-level dialogue between crypto businesses and government institutions, including the Central Bank of Russia and the State Duma. Notable speakers included Errol Musk and investor Garrett Bullish. The forum also featured the AI Future Forum track, dedicated to AI's role in the digital economy. The event concluded with networking opportunities and an AfterParty. The next forum is scheduled for December 2026 in Dubai.

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Blockchain Forum 2026 Brings Together 16 388 Participants in Moscow

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Fortune Investigation Exposes: High-Profile Crypto Trader's Fiancée Dies Mysteriously in Africa

A Fortune investigation reveals the dramatic downfall of crypto trader Joe McCann, founder of Asymmetric, whose personal and professional life spiraled out of control. After raising funds from prominent investors, McCann’s fund nearly doubled in value during the 2024 crypto rally. However, by 2025, the fund suffered severe losses, leading to internal turmoil and investor redemptions. Amid this collapse, McCann’s fiancée, influencer Ashly Robinson, died under suspicious circumstances during a vacation in Tanzania. Initially ruled a suicide, her death is under investigation, with McCann’s passport seized and questions raised by her family. McCann, known for his high-profile lifestyle and aggressive investment strategies, had promoted “asymmetric returns” but ultimately faced both financial and personal catastrophe. His story underscores the risks when narrative, capital, and personal life become dangerously intertwined.

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Cardano (ADA) Price Now At A Critical Level Following Strong Whale Activity

Cardano (ADA) is showing renewed bullish momentum, approaching the $0.25 mark amid a broader cryptocurrency market recovery. This upward movement is partly attributed to increased whale activity, with large holders accumulating more ADA. Analyst Ali Chartz identifies the $0.243 level as a critical make-or-break point. Holding above this support could trigger a relief rally toward $0.30, while a breakdown may lead to a deeper correction toward yearly lows near $0.10. Data shows whale addresses holding at least 10 million ADA have reached a 4-month high, indicating strong accumulation. Currently, ADA is trading at $0.25, up nearly 5% in 24 hours, with trading volume also increasing.

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Cardano (ADA) Price Now At A Critical Level Following Strong Whale Activity

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Fed Power Transition Crisis: Warsh Nomination Faces Bipartisan Opposition, Smooth Handover Filled with Uncertainty

President Trump's nominee for Federal Reserve Chair, Kevin Warsh, faces intense opposition from Senate Democrats over undisclosed assets exceeding $100 million, raising ethical concerns and casting uncertainty over a smooth leadership transition at the world's most influential central bank. Senate Banking Committee Democrats, led by Elizabeth Warren, accuse Warsh of concealing financial holdings and warn he would become a "puppet" of the president. They, along with Republican Senator Thom Tillis, are pushing to delay confirmation hearings. The controversy is compounded by the Trump administration's legal actions against current Fed officials, including Chair Jay Powell and Governor Lisa Cook. Powell’s term ends May 15, and he has stated he will serve as interim chair if a successor isn’t confirmed—a scenario legal experts support. However, concerns are rising that the White House may challenge this, potentially triggering a legal battle and undermining the Fed’s independence. With bipartisan resistance growing and a delayed hearing likely, the Fed’s leadership transition faces unprecedented uncertainty, prompting markets to reassess the outlook for U.S. monetary policy.

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Fed Power Transition Crisis: Warsh Nomination Faces Bipartisan Opposition, Smooth Handover Filled with Uncertainty

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More and More People Are Using Xiaohongshu as an AI Incubator

"More and more people are turning Xiaohongshu into an AI incubator," observes an article exploring a shift in China’s tech innovation landscape. The AI wave is no longer dominated by experienced tech experts; instead, young people—often with humanities backgrounds, and increasingly Gen Z or even younger—are driving creativity. This reflects a broader trend: AI is transforming entrepreneurship from a capital-heavy, top-down model into a lightweight, accessible process. The rise of "AI Native" creators was highlighted at a recent Xiaohongshu hackathon, where diverse teams showcased projects targeting highly specific, everyday problems—from AI-generated PPT improvements to brain-controlled wheelchairs and apps that simplify communication with hairstylists. The winning project, "Pocket Guitar," offers a portable, user-friendly music tool that mimics real guitar playing. These innovators embrace a "Build in Public" approach: they share ideas, progress, and failures openly on Xiaohongshu, turning development into a collaborative, community-driven process. This method helps validate demand, recruit team members, and grow user bases organically. For instance, one 23-year-old founder assembled a distributed team through technical discussions on the platform, while a 13-year-old award winner used AI to learn coding and solve real-world problems. Two key factors enable this movement: AI democratization (lowering technical barriers) and the power of social communities (enabling open collaboration and instant feedback). Xiaohongshu, originally a lifestyle and shopping guide platform, has thus evolved into a vital innovation infrastructure. It connects creators with real user needs, facilitates low-cost prototyping, and fosters a culture of co-creation. This shift signals a new era of innovation—defined not by grand narratives and scale, but by granular insights, individual creativity, and trust-based community support. Xiaohongshu’s role is expanding from answering "what to buy" to "what to create," positioning it as a potential "App Store for the AI era."

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More and More People Are Using Xiaohongshu as an AI Incubator

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