November 21st Market Key Intelligence, How Much Did You Miss?
Featured News
2. Bitcoin Breaks Below $82,000 Again, 24-hour Decline Widens to 8.9%
3. Independent Researcher Claims $610 Billion AI Ponzi Scheme Collapse
5. "Binance Life" Market Cap Falls Below $1 Billion, 24-hour Decline Exceeds 26%
Featured Articles
1. "Where Is the Strongest ZEC Copycat Headed in This Round?"
Over the past 2 months, ZEC, which has surged nearly 10 times and has maintained its independent trend, has always been the focal point of the market. The logical discussion around ZEC has gradually evolved from early endorsements of privacy concepts by figures such as Naval, Arthur Hayes, and Ansem to the current stage of debate between the bullish view based on the actual demand for privacy Track, and the bearish view from the perspective of mining power and mining revenue of the coin. So, apart from the endorsements of well-known figures, what are the detailed arguments for the bullish and bearish sides of ZEC?
The 2025 crypto market is at a delicate inflection point: Bitcoin ETF approval, intertwining liquidity and debt refinancing cycles, the AI boom siphoning off funds, and traditional financial and tech giants accelerating their embrace of blockchain. Against this backdrop, the market structure has become anomalous, with a lack of buying pressure for altcoins, underperformance of high-performance blockchains like Solana, and investor sentiment swinging between extreme optimism and fear. In this issue of "The Journey Man," Raoul Pal (former global macro investor, Real Vision founder) and Chris Burniske (Placeholder partner) delve deep into market cycles, liquidity dynamics, investor psychology, and industry structural changes.
On-Chain Data
On-chain fund flows for the week of November 21

You may also like

How to balance risk and return in DeFi yields?

Tom Lee's Ethereum Thesis: Why the Man Who Called the Last Cycle Is Doubling Down on Bitmine
Tom Lee is emerging as one of Ethereum’s most influential supporters. From Fundstrat to Bitmine, his Ethereum thesis combines staking yield, treasury accumulation, and long-term network value. Here is why “Tom Lee Ethereum” has become one of crypto’s most watched narratives.

Naval personally takes the stage: The historic collision between ordinary people and venture capital

a16z Crypto: 9 Charts to Understand the Evolution Trends of Stablecoins

Refutation of Yang Haipo's "The End of Cryptocurrency"

Can a hairdryer earn $34,000? Interpreting the reflexivity paradox of prediction markets

6MV Founder: In 2026, the "landmark turning point" for crypto investment has arrived

Abraxas Capital Mints $2.89 Billion USDT: Liquidity Boost or Just More Stablecoin Arbitrage?
Abraxas Capital just received $2.89 billion in freshly minted USDT from Tether. Is this a bullish liquidity injection for crypto markets, or is it business as usual for a stablecoin arbitrage giant? We analyze the data and the likely impact on Bitcoin, altcoins, and DeFi.

A VC from the Crypto world said AI is too crazy, and they are very conservative

The Evolutionary History of Contract Algorithms: A Decade of Perpetual Contracts, the Curtain Has Yet to Fall

Kicked out by PayPal, Musk aims to make a comeback in the cryptocurrency market

Solana ETF News: What Is a Solana ETF and Why Is Goldman Sachs Betting $108 Million on SOL?
Solana ETF news today shows Goldman Sachs disclosed a $108M position while total SOL ETF inflows reached $1.45B. Analysts now expect up to $6B in institutional demand as Solana trades 71% below its all-time high.

Bitcoin ETF News Today: $2.1B Inflows Signal Strong Institutional Demand for BTC
Bitcoin ETFs news recorded $2.1B inflows over 8 consecutive days, marking one of the strongest recent accumulation streaks. Here’s what the latest Bitcoin ETF news means for BTC price and whether the $80K breakout level is next.

Michael Saylor: Winter is Over – Is He Right? 5 Key Data Points (2026)
Michael Saylor tweeted yesterday “Winter‘s Over.” It is short. It is bold. And it has the crypto world talking.
But is he right? Or is this just another CEO pumping his bags?
Let us look at the data. Let us be neutral. Let us see if the ice has really melted.

WEEX Bubbles App Now Live Visualizes the Crypto Market at a Glance
WEEX Bubbles is a standalone app designed to help users quickly understand complex crypto market movements through an intuitive bubble visualization.

Polygon co-founder Sandeep: Writing after the chain bridge chain explosion

Major Upgrade on Web: 10+ Advanced Chart Styles for Deeper Market Insights
To deliver more powerful and professional analysis tools, WEEX has rolled out a major upgrade to its web trading charts—now supporting up to 14 advanced chart styles.

Morning Report | Aethir secures a $260 million enterprise contract with Axe Compute; New Fire Technology acquires Avenir Group's trading team; Polymarket's trading volume surpassed by Kalshi
How to balance risk and return in DeFi yields?
Tom Lee's Ethereum Thesis: Why the Man Who Called the Last Cycle Is Doubling Down on Bitmine
Tom Lee is emerging as one of Ethereum’s most influential supporters. From Fundstrat to Bitmine, his Ethereum thesis combines staking yield, treasury accumulation, and long-term network value. Here is why “Tom Lee Ethereum” has become one of crypto’s most watched narratives.








