Bitcoin Price Dips, Traders Hold Steady

CRYPTO
Bitcoin Price Dips, Traders Hold Steady

Bitcoin’s price has dipped from its weekly high, impacted by broader economic and stock market conditions. Yet, data from derivatives markets reveals traders remain optimistic. Although Bitcoin's rally cooled after approaching an all-time high on October 29, futures and options suggest traders are cautiously bullish without excessive leverage, which is crucial for sustained growth.

On November 1, Bitcoin fell below $69,000, but derivatives indicators, like the 25% delta skew, show stable trader sentiment, with only a modest premium on sell options. Perpetual contracts’ funding rates have stayed neutral, around 0.9% per month, signaling that leverage isn’t driving recent Bitcoin price movements, underscoring market health.

Additionally, recent stock market pressures, driven by weak tech earnings and economic uncertainties, have weighed on Bitcoin. Events like the U.S. presidential election and Federal Reserve decisions could impact Bitcoin’s outlook. Investors are closely watching these to assess how potential economic shifts might influence Bitcoin’s medium-term performance.
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VaultCraft launches V2, TVL skyrockets above $100M

VaultCraft launches V2, partners with Safe, and secures $100M+ in Bitcoin

• Matrixport, Asia’s leading crypto providers, commits $100M+ in Bitcoin

• OKX Web3 to launch Safe Smart Vaults with $250K+ in rewards

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ELECTION
Data Shows Trump Losing Ground Fast

In a stunning turn, Donald Trump’s campaign has taken a serious hit in its final days, turning what once seemed like a comfortable lead into a neck-and-neck race with Kamala Harris. Thomas Miller, a data scientist from Northwestern University whose election predictions have been highly accurate, attributes this reversal to a series of campaign missteps.

Trump had gained significant momentum throughout October, with Miller’s model projecting him as the clear favorite. However, a rally at Madison Square Garden on Oct. 27 appears to have triggered a sharp drop in Trump’s support. The event, featuring controversial figures like Rudy Giuliani, Stephen Miller, and Elon Musk, alienated a crucial demographic: suburban, college-educated women.

Miller’s model, which uses prediction market data from platforms like PredictIt, now shows Harris overtaking Trump, with her lead steadily growing. The rally’s divisive rhetoric, particularly a comedian’s disparaging remarks about Puerto Rico, has only amplified the backlash. Miller notes that the prediction markets, often skewed toward Republican candidates, still show Harris with a slight edge. With just days left, Miller sees Harris as the likely victor in a race now too close to call.
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APPLE
Tim Cook Reveals Apple's Hiring Secrets

Tim Cook, Apple’s CEO, shared his approach to hiring, emphasizing four key qualities he values in candidates. Speaking at the University of Naples in 2022, Cook explained that Apple prioritizes collaboration, creativity, curiosity, and expertise.

Collaboration is crucial—Cook believes that great things happen when people share ideas and work together toward common goals.

Creativity is also essential; Apple seeks people who can think outside the box, approach problems from unique perspectives, and innovate beyond conventional thinking.

Curiosity ranks high as well; Cook wants employees who are unafraid to ask questions, drive deeper understanding, and challenge assumptions to foster growth and innovation.

Expertise is a must; Apple looks for individuals with a strong skillset and experience in relevant fields, ensuring they can contribute meaningfully.

According to Cook, a purpose-driven mindset, with a focus on making a positive impact on customers’ lives, forms the foundation for success and fulfillment at Apple.
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BERKSHIRE HATHAWAY
Buffett’s Cash Pile Hits Record

Berkshire Hathaway’s cash reserves have surged to a record $325.2 billion in Q3, with Warren Buffett continuing to sell stocks while holding off on buybacks. This marks a significant rise from the previous quarter's $276.9 billion as the firm sold substantial portions of its top holdings, including Apple and Bank of America. Since mid-July, Berkshire has secured over $10 billion from reducing its Bank of America stake and shed $36.1 billion in stocks overall.

Despite earlier buybacks, Berkshire refrained from repurchasing any shares in Q3, a shift from previous quarters when buybacks had slowed as Berkshire shares hit record highs. Buffett’s cautious approach comes amid market gains fueled by expectations of economic stability, despite rising interest rates and concerns over fiscal deficits. Berkshire’s operating earnings dipped 6% from last year due to weaker insurance profits, though Class A shares rose 25% year-to-date, surpassing the S&P 500’s 20.1% gain.
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Meme of the day

Word of the day
Cursory

Something described as cursory has been done or made quickly.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.