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The dust has settled on the U.S. midterm elections, with the Democratic Party winning control of both chambers of Congress, and Trump has stated that he accepts the election results. After the uncertainty dissipated, the market rebounded significantly, with the S&P 500 index rising nearly 2% in a single day, the Dow Jones index increasing by over 3%, and the VIX experiencing its largest single-day drop since April 2025. Institutions such as JPMorgan, Nomura, HSBC, and Citadel Securities have successively released bullish reports.The core logic is that institutions had significantly deleveraged before the election, and short positions in the stock market were close to a five-year high. Citadel Securities stated that the net position of CTAs in U.S. stocks is approximately negative 3.3 standard deviations, placing it in the 10th percentile since 2018. Retail investors have net bought nearly $33 billion over 22 consecutive trading days since October 5, and the corporate buyback authorization window has also quickly reopened, with new authorizations reaching $1.5 trillion this year.Tech stock valuations are compressing simultaneously. The price-to-earnings ratio of the Nasdaq 100 has dropped to 19.1 times, the lowest since October 2022; the price-to-earnings ratio of semiconductor components has fallen to 13.8 times. HSBC views the Anthropic IPO as a key turning point for a comprehensive bullish trend in tech stocks. Historical data shows that since 1938, the S&P 500 has risen in 95% of the years in the 12 months following midterm elections, with an average increase of about 14%.

CryptoQuant analyst Darkfost pointed out that, calculated over a 90-day rolling window, the cumulative Z-score of the correlation between Bitcoin returns and S&P 500 returns has risen above zero for the first time since 2015, reaching 98.5. A score above 0 indicates that the correlation of Bitcoin is higher than usual, while a score below 0 indicates lower correlation. The cumulative Z-score summarizes deviations to present trends. Darkfost noted that this trend has been clearly upward since the low point, and this breakthrough is symbolic, as Bitcoin is increasingly moving in tandem with the stock market.Darkfost also pointed out that the recent momentum of this correlation is slowing down. The rate of change in the short-term 90-day correlation has fallen from recent highs to 6.3%. The correlation between the two remains above average, but it is no longer strengthening as rapidly as before. He believes this is mainly due to market maturation, as more financial professionals are increasingly using Bitcoin as a conventional financial tool with the improvement of ETFs and trading channels.

Hon Hai Precision Industry Co., Ltd. announced that its October revenue increased by 46% year-on-year, reaching NT$1.31 trillion (approximately US$39.7 billion), reflecting the ongoing advancement of global AI infrastructure.Analysts stated that Hon Hai is expected to maintain strong growth momentum in the fourth quarter, with cloud computing and networking businesses driven by demand for AI servers becoming the main growth drivers.

Bitget IPO Prime Phase 3 Project Anthropic is now open for VIP round subscription. VIP 1 to VIP 7 users can participate in the subscription using USDT or USDGO. The allocated assets will be delivered in rANT, relying on Bitget's RWA infrastructure to mirror the economic performance of ANT after its listing on a 1:1 basis.The VIP round subscription period is from November 5, 16:00 to November 9, 16:00 (UTC+8), with an investment range of $100-$3,000,000 and a total investment pool cap of $1,000,000,000. The historical reference allocation rate is 40-80%, the underwriting service fee is 12%, and the distribution time is 3 to 5 working days after the IPO.In addition, the public round subscription will open on November 10, 16:00 (UTC+8), available to all eligible users. For more details, please refer to the Bitget official platform.

According to a report by the Korean News Agency, South Korean Finance Minister Lee Hyoung-il stated that the government plans to postpone the cryptocurrency capital gains tax originally scheduled for implementation in 2027 by two years to 2029 and will consult with the National Assembly to advance related legislation. The South Korean government explained that it plans to start exchanging virtual asset tax information with the United States in 2029, and taxing before this could put the domestic cryptocurrency market at a competitive disadvantage. This delay aims to improve the taxation mechanism for domestic and foreign transactions and enhance tax fairness.Under the current plan, the portion of individual annual cryptocurrency gains exceeding 2.5 million Korean won (approximately $1,869) will be subject to a tax rate of 22%. If the postponement plan is ultimately approved, this will be the fourth delay in implementation since South Korea first pushed for cryptocurrency capital gains taxation in 2020. In addition, the South Korean government also plans to study allowing investors to carry forward losses to offset future gains, proposing a three-year limit; at the same time, it will establish a government-business working group to improve the taxation details for different transaction scenarios and promote the legislation of the digital asset bill. The government plans to submit relevant amendments to the National Assembly during the regular session in 2027.

Sharon Zhou, former Vice President of AI at AMD, announced on the X platform that she has officially joined Anthropic and will return to cutting-edge AI model research. Sharon Zhou held an important position at AMD.In June 2025, she led some team members from the startup Lamini to join AMD as Vice President of AI, responsible for AI research and other tasks. In 2026, her responsibilities expanded further, reporting directly to AMD CEO Lisa Su.

The traditional inventory financing platform Settle has reached a forward loan purchase agreement with the crypto lending platform 3Jane, with an initial amount of 50 million USD, which can be expanded to 100 million USD.3Jane has purchased 18 million USD of existing loans from Settle and will continue to purchase eligible new loans. 3Jane stated that it will use stablecoin liquidity to finance these loans.

The co-founder and CEO of the prediction market platform Kalshi, Tarek Mansour, tweeted that in yesterday's U.S. elections, the popular candidates in the prediction market won 479 out of the first 487 elections, accounting for 98%.He stated that the elite in Washington, D.C. have often underestimated the market, believing that "these people" do not understand politics, while the general public accurately expressed their judgments through the prediction market. The prediction market allows local knowledge scattered across different places to be aggregated, enabling voices to be heard without titles or large fan bases, changing the structure of information power.

HSBC has lowered the target price for Arm Holdings from $230 to $215, while raising the target price for Visa from $375 to $465.

Multiple mainstream media outlets in the United States have predicted that the Democratic Party will achieve a landslide victory in the midterm elections held on the 3rd, regaining control of both the Senate and the House of Representatives. Elon Musk, who previously spent hundreds of millions of dollars supporting Republican candidates, quietly deleted a post soliciting votes after the election concluded.According to a report by the Washington Post on November 4, on election day, Musk posted on the social platform X, urging voters to "vote red today!" As of local time November 4, this post has disappeared from Musk's account.The Global Times reported that Musk's financial investment in this midterm election reached $474 million, setting a historical record for political spending by a non-candidate donor in a single election cycle. He not only used the X platform to rally votes for the Republican Party but also publicly attacked Democratic candidates multiple times, yet the election results did not go as Musk had hoped.

According to the market information platform Liquid247.xyz, the current price of BTC is $80,536. The thickest order book is on Binance spot: sell orders amount to $14,199,500, buy orders amount to $8,657,200, with sell orders exceeding buy orders by $5,542,300.Coinbase's spot sell orders are also thicker than buy orders, but the scale is smaller than that of Binance spot. If a large buy or sell order suddenly appears, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

According to SoSoValue data, yesterday (Eastern Time November 4), the total net inflow of the ZEC spot ETF was $3.4295 million. Yesterday, only the Zcash ETF (ZCSH) had a net inflow, with a single-day net inflow of $3.4295 million, bringing the historical total net inflow to $218 million.As of the time of writing, the total net asset value of the ZEC spot ETF is $757 million, with a ZEC net asset ratio of 3.44%, and the historical cumulative net inflow has reached $218 million.

DCS Group's card and payment infrastructure platform DCS DeCard has become a Mastercard issuing institution in Hong Kong. At the same time, DCS DeCard launched the corporate card and expense management solution DeCard Business Account to help companies manage and control their expenditures.The DeCard Business Account supports medium and large enterprises in issuing Mastercard corporate cards through a single platform and centrally managing business expenses. The solution covers employee and operational expenses, assisting companies in managing costs, bills, invoices, and statements, applicable to scenarios such as business travel, employee expenses, advertising, media procurement, and corporate procurement. Initially, corporate cards will be offered in US dollars and funded in US dollars. DCS DeCard plans to gradually expand the DeCard Business Account to other markets and introduce new features, including fund account management.

Former Anthropic Claude Code product lead Cat Wu posted on X that she will join OpenAI to manage core products. She stated that she respects OpenAI for demonstrating the effectiveness of a scalable path and bringing AI to over a billion people, believing that excellent products are at the heart of the mission.Cat Wu mentioned that she looks forward to collaborating with thsottiaux, the product management team, and colleagues at OpenAI to create agents that support individuals and teams while allowing users to maintain control. Her X profile has been updated to reflect her role in OpenAI's core products, with previous experiences including Anthropic's Claude Code, Dagster, and Scale AI. She previously posted that last Friday was her last day at Anthropic.

According to the market information platform Liquid247.xyz, the current price of ETH is $2,427.42. The thickest order book is on Binance perpetual: buy orders at $52.679 million, sell orders at $48.8013 million, with buy orders exceeding sell orders by $3.8777 million.OKX perpetual buy orders are also thicker than sell orders, but the scale is smaller than Binance perpetual. If a large buy or sell order suddenly appears, the exchange with a thinner order book will be affected first, and price fluctuations will be more pronounced.

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to 8.019 billion USD, with long positions at 3.774 billion USD, accounting for 47.06% of the total holdings, and short positions at 4.245 billion USD, accounting for 52.94% of the total holdings. The profit and loss for long positions is 183 million USD, while the profit and loss for short positions is -167 million USD.Among them, the whale address 0x5b5d..60 has shorted ETH with a 5x leverage at a price of 2322.71 USD, currently showing an unrealized profit and loss of -8.9604 million USD.

According to The Block, the crypto advocacy organization Digital Chamber (TDC) stated that Sherrod Brown's victory is "the most adverse outcome for the crypto industry," and that his priorities regarding financial stability, consumer protection, bank regulation, and illicit finance issues may influence the Democratic Party's overall attitude toward the crypto industry.

The Ethereum Foundation stated on platform X that its "Strawmap" has set a goal to achieve Lean Ethereum by 2029, and a plan has now been established to gradually advance through forks. H* will be the last fork that does not include Lean features; I* will introduce leanVM and Lean transactions; J* will add Lean proofs, data availability sampling, and PCS; by the L stage, Lean Ethereum will be completed.It is reported that Lean Ethereum is a long-term protocol restructuring vision and roadmap proposed after Ethereum enters its second decade, with the core goal of streamlining the protocol without sacrificing decentralization and security, significantly enhancing performance, addressing quantum computing threats, and restructuring the underlying technology stack.