According to the source, a compliant trading summary cannot be produced because the only evidence provided is a social post from a prohibited crypto media outlet. Please supply a verifiable citation such as an official Sequans Communications announcement, an SEC/AMF filing (e.g., Form 6-K), an exchange notice, or an audited financial update confirming the BTC sale, the convertible debt reduction, and the reported share-price move, so that trading-relevant analysis can be completed with proper sourcing.

According to @KobeissiLetter, crypto markets extended losses with Bitcoin (BTC) down 22% since October 6 and Ethereum (ETH) down over 35% over the last month (source: @KobeissiLetter). The update was posted on Nov 5, 2025, noting the market is extending losses (source: @KobeissiLetter).

According to @caprioleio, institutional buying of BTC is drying up and the Treasury Company flywheel is slowing alongside an mNAV collapse, source: @caprioleio on X, Nov 5, 2025. The author adds that long-term holders are selling and suggests that fears of quantum computing breaking Bitcoin ahead of other encrypted systems may be discounting BTC’s long-term value, source: @caprioleio on X, Nov 5, 2025. The post calls for upgrading Bitcoin to be quantum-resistant as soon as possible, source: @caprioleio on X, Nov 5, 2025.

According to @52kskew, this week’s broad crypto sell pressure is tied to macro flows, creating potential edge around pivotal BTC levels such as the $100K extremity where liquidity concentrates, source: https://x.com/52kskew/status/1985828138975445380. According to @52kskew, the selling has been driven by institutions with hedges likely already active, indicating the short trade is on, source: https://x.com/52kskew/status/1985828138975445380. According to @52kskew, aggressive multi-day short positioning in crypto often meets pushback given the market’s PvP liquidity dynamics, source: https://x.com/52kskew/status/1985828138975445380. According to @52kskew, when anticipated downside volatility does not materialize, sizeable short covering rallies or squeeze events typically occur before the actual catalyst, source: https://x.com/52kskew/status/1985828138975445380. According to @52kskew, traders should frame decisions around liquidity and positioning at key prices while accounting for pre-event squeeze risk, source: https://x.com/52kskew/status/1985828138975445380.

According to @caprioleio, Bitcoin is down about $10,000 and he warns traders to exit when institutional buying stops, directing users to a live Institutional Buying Daily Rate to monitor demand strength (source: @caprioleio on X, Nov 4, 2025; source: Capriole.com). For trade risk management, monitor the Capriole Institutional Buying Daily Rate for slowdowns or negative readings as a risk off signal for BTC exposure per the author’s guidance (source: @caprioleio on X; source: Capriole.com). The shared link leads to Capriole’s Bitcoin Treasuries Institutional Buying Daily Rate chart, which provides a live view of institutional accumulation activity for Bitcoin tracking purposes (source: Capriole.com).

According to @KobeissiLetter, US stock market futures fell over 1% as tech stocks pulled back following mixed earnings reactions (source: @KobeissiLetter, Nov 4, 2025). Cross-asset studies show rising co-movement between Bitcoin and US tech stocks since 2020, implying heightened near-term volatility risk for BTC and ETH when Nasdaq weakens (source: IMF research 2022; BIS Quarterly Review 2022). Because equity index futures reflect anticipated cash-session direction and magnitude, crypto traders can monitor BTC and ETH into the US open and consider hedging or reducing leverage if equity weakness persists (source: CME Group equity index futures education).

According to @milesdeutscher, crypto sentiment is the weakest since the 2022 FTX collapse and is driven by multiple headwinds rather than a single catalyst. According to @milesdeutscher, near-term bear drivers include BTC whale selling with notable Asian sell pressure and Bitcoin ETF flows turning negative. According to @milesdeutscher, additional drags are a fatigued DAT narrative with unwinds at smaller to mid-sized DATs, persistent altcoin underperformance due to dilution, extraction events, inflated valuations, weak product-market fit and time decay, psychological damage from the Oct 10 liquidation revealing thin liquidity, and crypto lagging equities which has redirected new retail flow to stocks. According to @milesdeutscher, the bull side features BTC remaining structurally intact on high time frames, with prior 50-DMA and 200-DMA retests acting as buy signals and no euphoria signals evident yet. According to @milesdeutscher, macro supports include QT ending with scope for QE, declining rates, a still-running business cycle with no clear equity top and the tendency for BTC to re-correlate to equities, plus pro-market signals from Trump. According to @milesdeutscher, a decisive BTC rally can rapidly flip sentiment. According to @milesdeutscher, traders should only buy if ready to sit underwater, define invalidation at clear HTF retest levels, wait for confirmed HTF reclaims on broken alts, and watch for a BTC and order-book microstructure shift as a risk-on trigger. According to @milesdeutscher, a portfolio can allocate up to 10 percent to low caps during risk-off while staying research-heavy to capture asymmetric upside when the market reverses, with the priority being survival and engagement until the next major rally and new 10x altcoins emerge.

According to Onchain Lens, a whale address that had been inactive for about one year withdrew 800.19 BTC, valued at approximately $85.51 million, from OKX and Binance, indicating a large exchange outflow at the time of the transfer, source: Onchain Lens on X. The referenced receiving address is 37BnFfKVVAAw5fyLejdxLaca9WmmSA9zbS, as included in the post and viewable via Arkham Intel, source: Arkham Intel address explorer. Based on the figures reported, the implied average value of the transfer is roughly $106,800 per BTC, calculated from data provided by Onchain Lens, source: Onchain Lens on X. The transaction constitutes a net reduction of 800.19 BTC from OKX and Binance balances at the time of the withdrawal, as described by the onchain alert, source: Onchain Lens on X.

According to @Andre_Dragosch, US Bitcoin ETFs together with MicroStrategy MSTR have absorbed roughly 30% of Bitcoin long-term holder supply, which he notes is below half but represents a consistent bid (source: @Andre_Dragosch on X, Nov 4, 2025). Traders can treat this steady demand as a flow signal by closely monitoring US Bitcoin ETF net inflows and any new MSTR purchase disclosures for near-term price impact (source: @Andre_Dragosch on X, Nov 4, 2025).

According to @nic__carter, the Griffin and Shams paper’s publication in The Journal of Finance and its acceptance in media and policy circles to bolster crypto views in Washington, D.C. is a scandal that has not been scrutinized adequately (source: Nic Carter on X, Nov 3, 2025). The referenced study, Is Bitcoin Really Un-Tethered? by John M. Griffin and Amin Shams, was published by The Journal of Finance in 2022 and reports that large USDT transfers to exchanges were associated with subsequent BTC price increases during 2017–2018 (source: The Journal of Finance, 2022). For trading, the paper’s core empirical claim links Tether issuance to BTC price support, making USDT supply changes and exchange transfer flows a key watchlist metric when assessing liquidity-driven rallies and resilience in BTC (source: The Journal of Finance, 2022). Carter argues the study has been used to bolster crypto policy views in Washington, highlighting the need for traders to track U.S. stablecoin policy developments, which have been formally prioritized for oversight by U.S. authorities (sources: Nic Carter on X, Nov 3, 2025; President’s Working Group on Financial Markets, Report on Stablecoins, Nov 2021).

According to @CryptoMichNL, the total crypto market capitalization is experiencing a normal correction within an ongoing uptrend, with BTC and altcoins positioned for the next leg higher (source: @CryptoMichNL via X, Nov 3, 2025). According to @CryptoMichNL, the market trend remains up despite near-term pain, indicating bullish continuation rather than a trend reversal for traders monitoring crypto momentum (source: @CryptoMichNL via X, Nov 3, 2025).

According to the source, the hypothetical disappearance of Bitcoin focuses traders on liquidity concentration and cross-asset correlations, with BTC representing roughly half of total crypto market capitalization across 2023–2024, implying a large-cap and liquidity shock if removed, source: CoinMarketCap Bitcoin Dominance data. ETH has maintained a strong positive 90-day rolling correlation with BTC, frequently above 0.6 in 2023–2024, indicating ETHUSD and ETHBTC dislocations and higher basis volatility when BTC experiences regime shifts, source: Kaiko correlations research. On centralized exchanges, BTC provides the deepest order books and a large share of spot and derivatives activity, and episodes of BTC-led stress have coincided with wider spreads and thinner depth in altcoin books, implying immediate liquidity deterioration if BTC were removed, source: Kaiko Market Structure reports and CCData Exchange Review 2024. XRP exhibits a positive but lower and regime-dependent correlation to BTC, with idiosyncratic catalysts such as the July 13, 2023 SDNY ruling in SEC v. Ripple causing temporary decoupling, yet broad market selloffs have still transmitted to XRP, source: U.S. District Court SDNY order and CoinMarketCap price data. Stablecoins such as USDT and USDC are the dominant quote assets for altcoins, so trading would likely reroute to stablecoin pairs, but historical structural shifts have shown initial liquidity fragmentation and higher slippage, source: Kaiko stablecoin market share analyses and Binance Research liquidity studies. BTC perpetuals and futures anchor funding rates and the crypto volatility term structure; when those benchmarks dislocate, altcoin perpetuals exhibit higher funding variability and basis swings, implying heightened derivatives risk without BTC, source: Kaiko derivatives reports and CME Group market statistics.

According to Rosie Sargsian (Ten Protocol), constant pivoting and “sunk-cost-maxxing” are undermining crypto’s ability to build durable products and protocols, highlighting execution risk that traders should price into valuations and risk management (source: Rosie Sargsian, Ten Protocol, social media statement on Nov 3, 2025). For trading screens, long-term developer participation is a key durability proxy, with Electric Capital’s 2023 Developer Report showing long-term developer counts near record highs even as new contributors fell post-2022, helping distinguish resilient ecosystems from momentum-driven projects (source: Electric Capital 2023 Developer Report). The same report finds long-term developers are concentrated in Ethereum and Bitcoin, indicating ETH and BTC ecosystems exhibit stronger builder persistence that can reduce roadmap execution risk relative to smaller, frequently pivoting projects (source: Electric Capital 2023 Developer Report). Traders seeking resilience can prioritize tokens in ecosystems with sustained core client releases and stable roadmaps while de-emphasizing projects showing repeated pivots, using developer retention and activity as indicators of healthier protocol iteration (source: Electric Capital 2023 Developer Report).

According to @AltcoinDaily, Barry Silbert stated that Bittensor (TAO) "has the potential to be as transformative as Bitcoin," signaling a high-profile endorsement that can shift trader attention toward TAO (source: @AltcoinDaily on X, Nov 2, 2025). Empirical research shows celebrity and influencer tweets can trigger statistically significant abnormal returns and volume in crypto within minutes to hours, implying potential short-term volatility and momentum opportunities for TAO after such statements (source: Blockchain Research Lab, Ante 2021). Bittensor describes TAO as the native asset that incentivizes a decentralized machine learning network, aligning the token with the AI-crypto narrative that traders track for sector flows and liquidity (source: Bittensor documentation).

According to Altcoin Daily, Bitcoin (BTC) finished October in the red, marking the first negative October in more than six years (Source: Altcoin Daily, X, Nov 2, 2025). The same source reports that since 2013, November has delivered an average BTC return of 42.51%, identifying it as Bitcoin’s historically strongest month for gains (Source: Altcoin Daily, X, Nov 2, 2025). Based on that seasonality, the source adds BTC could surpass 160,000 dollars in November if history repeats, presenting a bullish scenario to watch for traders (Source: Altcoin Daily, X, Nov 2, 2025).

According to the source, a Nov 2, 2025 social media post states Michael Saylor said "Orange is the color of November," which the post frames as a hint of additional BTC accumulation; source: the cited social media post dated Nov 2, 2025. There is no accompanying MicroStrategy or SEC disclosure confirming a new BTC purchase at the time of the post; source: absence of any filing referenced in the post and MicroStrategy’s standard practice of reporting buys via Form 8-K. For trading, watch for official MicroStrategy announcements, MSTR price reactions, BTC spot order book imbalances, and large on-chain transfers to known MicroStrategy-associated wallets as potential confirmation signals; source: prior MicroStrategy purchase disclosures and subsequent market and chain data observed via Form 8-K filings, exchange order books, and blockchain explorers. If confirmed, additional corporate buying can reduce circulating supply and support near-term BTC bid depth; source: historical impact around prior MicroStrategy accumulation events documented in company disclosures and contemporaneous market data.

According to @santimentfeed, the latest This Week in Crypto episode features a discussion with @ThinkingCrypto1 reviewing key market metrics for Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and broader altcoins to assess whether prices can get back on track with two months left in 2025; source: @santimentfeed on X, Nov 2, 2025, and the linked YouTube video (id: fBkQ7Pdqn0U). For traders, the segment provides Santiment’s up-to-date metrics review across majors and altcoins to inform near-term positioning into the year-end 2025 crypto market outlook; source: @santimentfeed on X, Nov 2, 2025.

According to @KobeissiLetter, the S&P 500 is up about 20% since President Trump’s so-called Liberation Day, indicating strong U.S. equity momentum that traders track as a macro risk-on cue, source: @KobeissiLetter. IMF research has documented a tighter post-2020 correlation between U.S. equities and Bitcoin, meaning stock rallies have increasingly moved in sync with crypto prices, source: International Monetary Fund 2022 article Crypto Prices Move More in Sync With Stocks. Given this correlation, monitoring S&P 500 strength is relevant when assessing BTC and ETH risk exposure and potential cross-asset flows, source: International Monetary Fund 2022 article Crypto Prices Move More in Sync With Stocks.

According to @Ashcryptoreal, Japan’s Financial Services Agency plans to classify Bitcoin as a financial product in 2026, a development the post describes as bullish for BTC, source: @Ashcryptoreal on X, Nov 1, 2025. The post does not include an official FSA notice or legal reference, so the claim is unconfirmed; traders should wait for primary-source confirmation from the Japan FSA before positioning on this headline, source: @Ashcryptoreal on X, Nov 1, 2025.

According to the source, an unverified social-media claim states the Sigma Capital CEO warned BTC could drop 70% in the next downturn while keeping a long-term $1M target; because this cannot be validated via a permissible primary source, no trading conclusions or levels are provided at this time. Source: user-provided social-media snippet; no direct primary citation (e.g., Sigma Capital’s official X post, website statement, or filing) was supplied.