According to @GracyBitget, MicroStrategy’s (MSTR) market capitalization slid to roughly $64.4 billion after the U.S. market open, dipping below the current market value of its Bitcoin (BTC) holdings (estimated $65–$68 billion) as referenced from Nasdaq market data and Coinglass Bitcoin Treasuries figures. According to Coinglass, MicroStrategy holds 641,692 BTC, about 3% of total BTC supply, anchoring the estimated asset value cited by @GracyBitget. Per @GracyBitget, the loss of MSTR’s market value-to-NAV (mNAV) premium signals investors’ preference for direct BTC exposure over equity proxies when the premium compresses. Citing @GracyBitget, this dynamic threatens the core value-creation logic for digital asset tracker (DAT) equities that rely on maintaining an mNAV premium. @GracyBitget adds that a sustained discount to NAV could mirror the historical GBTC precedent, implying potential mNAV ranges of 0.5–0.8 during stress. For traders, the immediate takeaway is that MSTR’s equity beta to BTC may persist while the mNAV relationship is in flux, making the MSTR-versus-BTC basis (per Nasdaq and Coinglass data cited by @GracyBitget) the key spread to monitor for discount/premium inflection.

According to @GracyBitget, after the U.S. market open MicroStrategy’s (MSTR) market capitalization dropped to about 64.4 billion dollars, slipping below the market value of its 641,692 BTC treasury, implying an mNAV multiple below 1.0, source Nasdaq MSTR page and Coinglass Bitcoin Treasuries. She noted the 641,692 BTC represents roughly 3 percent of Bitcoin supply and is valued around 65 to 68 billion dollars, underscoring the disappearance of the DAT mNAV premium that historically supported these equities, source Coinglass Bitcoin Treasuries and @GracyBitget. She added that this price action signals investors may prefer direct BTC exposure over MSTR when liquidity is tight, and warned that if risk sentiment remains weak, other DAT equities could face broader multiple compression and sector-wide repricing, source @GracyBitget. She cautioned that DAT stocks can amplify downside versus their underlying BTC and can enter death spirals in drawdowns, citing prior blowups as a reminder of structural risk, reinforcing near-term caution for DAT exposure, source @GracyBitget. For trading, monitoring MSTR’s mNAV discount range and whether it persists toward 0.5 to 0.8 as flagged by the author is key, while a sustained sub-1.0 mNAV implies BTC spot may remain a cleaner exposure than DAT equities under compressed liquidity, source @GracyBitget and Nasdaq MSTR page.

According to Gracy Chen of Bitget, the DAT model may benefit project teams but not investors, with many long-tail DAT deals amounting to in-kind token conversions that lack substantive value, which traders should treat cautiously for risk management, source: Gracy Chen on X, Nov 12, 2025 https://x.com/GracyBitget/status/1988617515098882226. She adds that the Oct 11 epic crypto liquidations magnified a longer-term trend where small-cap altcoins face a structural squeeze rather than a temporary setback, source: Gracy Chen on X, Nov 12, 2025 https://x.com/GracyBitget/status/1988617515098882226. Chen states market pricing power has shifted to institutions and Wall Street, implying order flow and liquidity are increasingly institution-led, which impacts retail timing and asset selection, source: Gracy Chen on X, Nov 12, 2025 https://x.com/GracyBitget/status/1988617515098882226. She highlights December as a key macro window with the end of the US government shutdown and attention on potential rate cuts likely setting the policy tone; if liquidity eases, both crypto and US equities could see upside, source: Gracy Chen on X, Nov 12, 2025 https://x.com/GracyBitget/status/1988617515098882226. For positioning, Chen advises focusing on compliance and leading assets over new-concept hype as the industry shifts from rough growth to regulated development, source: Gracy Chen on X, Nov 12, 2025 https://x.com/GracyBitget/status/1988617515098882226.

According to @GracyBitget, the U.S. government shutdown has been resolved and a bipartisan crypto bill placing oversight under the CFTC is taking shape, improving regulatory clarity for digital assets; source: X/@GracyBitget. She reports that spot Bitcoin ETFs saw $524M of net inflows yesterday, the highest in three weeks, signaling returning institutional capital; source: X/@GracyBitget. Economic Times adds that the shutdown deal lifted crypto market optimism and supported a BTC rebound, aligning with expectations that easing macro uncertainty can strengthen institutional confidence; source: Economic Times.

According to @GracyBitget, DATs currently benefit project teams more than investors, and most long‑tail DATs amount to unfavorable token swaps for holders, source: @GracyBitget (X post, Nov 12, 2025). She adds that the post–Oct 11 selloff left a structural, not temporary, squeeze on altcoins, implying persistent pressure on illiquid names, source: @GracyBitget (X post, Nov 12, 2025). She states market pricing power has shifted to Wall Street, meaning macro flows and institutional positioning now drive crypto price discovery, source: @GracyBitget (X post, Nov 12, 2025). She highlights December as a key macro window where policies such as a government shutdown stop and interest rate cuts will set the tone; if liquidity eases, both crypto and U.S. equities could see tailwinds, source: @GracyBitget (X post, Nov 12, 2025). She notes many investors are tracking both markets on Bitget, source: @GracyBitget (X post, Nov 12, 2025).

According to @GracyBitget, Bitget held its monthly user feedback review with support and most managers to align on user issues and solutions, reflecting an ongoing operational focus on customer experience on the exchange (source: @GracyBitget). Users highlighted five pain points: complicated account reset and security change processes; delays in freezing suspected stolen funds transferred to Bitget; tedious reporting flows for suspected P2P trade fraud; no reminders before fee coupons or trial bonuses expire; and long waiting times for fiat deposits (source: @GracyBitget). Bitget stated that every piece of feedback is being reviewed and followed up by the appropriate teams, signaling active remediation on these workflows (source: @GracyBitget). For traders, these areas directly affect funding speed, fraud-mitigation workflows, and account changes on Bitget, factors that can influence order timing and capital mobility on the platform (source: @GracyBitget). Bitget also invited further customer service issue reports to refine processes promptly (source: @GracyBitget).

According to Gracy Chen @Bitget, she posted a brief apology to stock traders on X stating "Dear stock traders, We owe you an apology" on Nov 11, 2025. Source: @GracyBitget on X, Nov 11, 2025. The post included no further context, tickers, price data, or mentions of BTC, ETH, or other coins, offering no immediate trading signal. Source: @GracyBitget on X, Nov 11, 2025. Traders should treat this as a non-actionable social update unless additional guidance is issued by the same account. Source: @GracyBitget on X, Nov 11, 2025.

According to @GracyBitget, crypto and TradFi are converging and crypto exchanges are eating traditional brokers’ lunch, a theme she said she explored at Hong Kong FinTech Week, source: @GracyBitget on X, Nov 11, 2025. According to @GracyBitget, the panel featured Henri Arslanian, BC_KuCoin, and Avery Ching and ended with a quick-fire Q&A, highlighting a trading-relevant focus on how exchange-broker competition is evolving, source: @GracyBitget on X, Nov 11, 2025.

According to @GracyBitget, Bitget has been recognized by Benzinga as the Best Crypto Exchange, indicating third-party acknowledgment from a traditional finance media outlet; source: @GracyBitget, X, Nov 11, 2025. According to @GracyBitget, the post explicitly references Benzinga and highlights #BitgetStockFutures, #Crypto, and #Fintech, making the announcement directly relevant to derivatives and spot traders evaluating venue options; source: @GracyBitget, X, Nov 11, 2025. According to @GracyBitget, the message also states UEX is here, but no criteria, timeframe, or comparative metrics for the award are provided in the post; source: @GracyBitget, X, Nov 11, 2025.

According to @GracyBitget, Bitcoin’s price is now primarily driven by US liquidity and spot Bitcoin ETF inflows, reflecting heightened institutional dominance and Wall Street pricing power over BTC price action. Source: @GracyBitget (Nov 10, 2025). She adds that capital from Europe, the Middle East, and Asia is rotating into gold and equities, aligning with this year’s strength in gold, US AI-related stocks, and China’s equity index rather than BTC. Source: @GracyBitget (Nov 10, 2025). Looking ahead, she identifies two catalysts: the anticipated November end of the US government shutdown (with Polymarket’s market indicating Nov 14) and a potential December Fed shift to halt balance-sheet reduction and start a rate-cut cycle. Source: @GracyBitget (Nov 10, 2025); Polymarket (as cited by @GracyBitget). If both conditions are met, she argues BTC, as a highly liquidity-sensitive asset, could push toward $150,000 in Q4 2025 or Q1 2026, consistent with her earlier $130K–$200K range. Source: @GracyBitget (Nov 10, 2025). Trading takeaway: prioritize US spot Bitcoin ETF net flow trends, Fed balance-sheet and rate-path signals, and the shutdown resolution timeline as near-term catalysts for BTC volatility and direction under this framework. Source: @GracyBitget (Nov 10, 2025). Risk to view: a prolonged shutdown or a Fed that maintains QT and delays cuts would undermine the setup outlined. Source: @GracyBitget (Nov 10, 2025).

According to @GracyBitget, Bitcoin’s price is now primarily driven by U.S. liquidity and Wall Street-led ETF inflows, while non-U.S. capital has tilted toward gold and equities, consistent with 2025 strength in gold, AI-related U.S. stocks, and China’s equity index, source: Gracy Chen on X, Nov 10, 2025, and Forbes, Nov 8, 2025. She highlights two potential catalysts for a new BTC bull leg: an end to the U.S. government shutdown around Nov 14 based on Polymarket odds, which could restart fiscal outlays and ease liquidity, and a December Federal Reserve shift that halts QT and begins rate cuts, source: Gracy Chen on X, Nov 10, 2025, and the Polymarket prediction market cited by Chen. Under these conditions, she reiterates a projection that BTC could make a run at new all-time highs with a path toward 150K after policy easing, noting her earlier 130K–200K scenario as contingent on liquidity returning, source: Gracy Chen on X, Nov 10, 2025. Trading takeaway: track daily U.S. spot BTC ETF net flows, shutdown resolution odds, FOMC signals on QT and cuts, and cross-asset flows into gold and AI equities to time BTC beta exposure, source: Gracy Chen on X, Nov 10, 2025, and Forbes, Nov 8, 2025.

According to @GracyBitget, BTC price action is now primarily dictated by US domestic liquidity, with Wall Street-led institutional flows via spot BTC ETFs increasingly setting direction (source: @GracyBitget; Forbes). She adds that capital from Europe, the Middle East, and Asia tends to favor gold and equities, which she argues helps explain this year’s strength in gold, US AI stocks, and China’s STAR 50 index (source: @GracyBitget). As a near-term catalyst, she points to Polymarket odds that the US government shutdown could end around Nov 14, which would restore fiscal outlays and ease liquidity pressure (source: @GracyBitget citing Polymarket). She further argues that if the Federal Reserve halts quantitative tightening in December and begins a rate-cut cycle, BTC should be among the first risk assets to benefit due to its high sensitivity to liquidity (source: @GracyBitget). On targets, she reiterates that once fiscal spending resumes and the Fed turns dovish, BTC can exceed $130,000 and attempt $150,000–$200,000, framing the timing as this Q4 or next Q1 (source: @GracyBitget). She discloses a fully allocated crypto position while noting NFA, underscoring conviction in a new BTC all-time high if liquidity pivots as outlined (source: @GracyBitget).

According to @GracyBitget, she will attend only one crypto conference in December 2025 and praised its positioning as "No vanity panels no fluff just the real ones sharing alpha and building what’s next," giving traders a clear December event to monitor for executive commentary. Source: @GracyBitget (X, Nov 10, 2025). She also referenced an X post by @AlokHarisen related to the same event, confirming the conference context for scheduling and tracking purposes. Source: @GracyBitget (X, Nov 10, 2025).

According to @GracyBitget, crypto participation is driven by memecoin themes (cats, dogs, frogs, Chinese characters) and social virality, with Binance listing rumors or confirmations prompting broad ape-in behavior, source: @GracyBitget, X, Oct 30, 2025. According to @GracyBitget, prevailing crypto narratives include BTC will surpass gold and altcoins are worth zero, highlighting a BTC-centric bias many market participants reference, source: @GracyBitget, X, Oct 30, 2025. According to @GracyBitget, US stock discussions focus on AI, robotics, space, autonomous driving, and biotech, anchored in weekly report quality, forward P/E down to 17 next year, long keynotes, exploding user growth, and ambitions like the first $10T market cap, source: @GracyBitget, X, Oct 30, 2025. According to @GracyBitget, this contrast frames crypto trading around social and listing catalysts versus equity trading around fundamentals and valuation, a split traders can use to align catalyst calendars and risk management across BTC and altcoins, source: @GracyBitget, X, Oct 30, 2025.

According to @GracyBitget, Bitget has launched contracts for Chinese ADRs including Futu (FUTU) and JD (JD), expanding stock derivatives available to users on the exchange (Source: @GracyBitget on X, Oct 30, 2025). According to @GracyBitget, M7 names such as Nvidia (NVDA, about 4.9T market cap) and Apple (AAPL, about 4T market cap) are tradable on Bitget, with attention on which will hit the first 10T valuation (Source: @GracyBitget on X, Oct 30, 2025). According to @GracyBitget, Bitget positions itself as a one-stop venue for both crypto and US stock trading and has rolled out an earnings calendar, report analysis, and a US stock contract trading competition tied to the ongoing M7 earnings dates (Source: @GracyBitget on X, Oct 30, 2025).

According to @GracyBitget, Bitget's GetAgent outlined three hypothetical Bitcoin redesign priorities—adaptive block sizing, privacy by default, and formal governance rules—and Bitget is offering the AskSatoshiWithGetAgent campaign for free from Oct 27 to Nov 5 to mark Bitcoin Whitepaper Day (source: @GracyBitget). For traders, the post announces no Bitcoin protocol changes, tokenomics adjustments, or network parameter updates, indicating no direct on-chain impact to BTC from this announcement based on the stated information (source: @GracyBitget).

According to @GracyBitget, Bitget will continue listing high-risk assets while explicitly rejecting all-in gambling, emphasizing user choice with risk limits for traders. Source: x.com/GracyBitget/status/1890618854357004513 Oct 11, 2025. She stresses that disciplined investing requires the courage to miss hype-driven moves and to know one’s limits, underscoring risk management over FOMO. Source: x.com/GracyBitget/status/1890618854357004513 Oct 11, 2025. She adds that earlier criticism of these principles has been countered by recent market conditions, reinforcing her stance. Source: x.com/GracyBitget/status/1890618854357004513 Oct 11, 2025. For traders, the takeaway is continued access to high-beta, high-volatility listings on Bitget, paired with a clear call to practice strict risk controls and avoid overexposure. Source: x.com/GracyBitget/status/1890618854357004513 Oct 11, 2025.

According to @GracyBitget, Bitget will continue listing high-risk assets while clarifying that providing choice does not mean encouraging all-in gambling, signaling a focus on risk discipline for traders, source: @GracyBitget on X, Oct 11, 2025. She added that real investing is the courage to miss during mania and to respect one’s limits, a stance she says the market vindicated today, source: @GracyBitget on X, Oct 11, 2025. For trading decisions, this points to engaging with Bitget’s high-risk listings only with strict position sizing and clear risk boundaries, source: @GracyBitget on X, Oct 11, 2025.

According to @GracyBitget, some users received abnormal market notifications on the Bitget app in the past 30 minutes due to delayed delivery of historical messages, source: @GracyBitget. The issue is limited to price notifications and does not impact trading execution, deposits, or withdrawals, source: @GracyBitget. Bitget is working with its service provider to resolve the delay, and user assets remain completely safe, source: @GracyBitget.

According to @GracyBitget, the price of Gold/XAUT just moved above $4,000 on Oct 8, 2025, marking a fresh breakout level for traders to monitor. According to @GracyBitget, she also consulted the AI tool GetAgent for a forecast related to this move, underscoring active use of AI-driven signals around XAUT. According to Tether, XAUT is a tokenized representation of gold within the crypto market, making the $4,000 print a key reference level for tokenized-gold liquidity and execution. Based on @GracyBitget’s update, traders can use $4,000 as an immediate pivot for breakout-confirmation or pullback setups with defined risk around the reported level.