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🚨 THIS IS WHY BITCOIN KEEPS CRASHING BELOW $67,000 If you still think Bitcoin trades like an asset whose price is determined purely by spot supply and demand, you need to read this carefully. Because that market no longer exists. What you’re watching right now is NOT normal price action. This isn’t just an AI stock sell-off. This isn’t just hotter inflation. And this definitely isn’t retail suddenly deciding to dump Bitcoin at the exact same time. Most people have no idea what is actually happening. And by the time it becomes obvious, the damage is usually already done. This didn’t start today. It has been building underneath Bitcoin for YEARS. And now it’s accelerating. Here’s the truth: Bitcoin still has a hard cap of 21 MILLION coins. But Wall Street can create almost unlimited financial EXPOSURE around those coins. That distinction changes everything. Because once derivatives dominate short-term price discovery... Bitcoin stops trading purely on who wants to own the actual coins. It starts trading on: 1) LEVERAGE. 2) HEDGING. 3) MARGIN. 4) LIQUIDATIONS. 5) FORCED SELLING. And that is exactly what is happening right now. It’s the same mechanism that repeatedly drives violent moves in: → Gold → Silver → Oil → Stocks Once derivatives become large enough, spot buyers are no longer the only force setting the price. And this is the part almost nobody understands: Bitcoin’s scarcity didn’t disappear. But scarcity alone no longer controls the SCREEN PRICE. Wall Street built an entire financial layer on top of Bitcoin: → Cash-settled futures → Perpetual contracts → Options → ETFs → Broker lending → Swaps → Wrapped BTC The 21 million cap controls the COINS. It does NOT cap the amount of leveraged exposure that can be created around them. And once that leverage starts unwinding... The market doesn’t care what the long-term thesis is. It SELLS. Look at what just happened: Over $1.9 BILLION in leveraged crypto positions wiped out in 24 hours. More than $1.1 BILLION liquidated in Bitcoin alone. Spot Bitcoin ETFs have already seen roughly $1.9 BILLION in outflows this month. Once leveraged selling overwhelms real buyers, price stops responding only to long-term demand. It starts responding to positions. Hedging. Margin calls. And cascading liquidations. Wall Street does not need to own millions of physical Bitcoin to push the market around. It only needs enough derivatives exposure and enough leverage sitting in the wrong place. The playbook is brutally simple: 1st: Build enormous leveraged exposur 2nd: Push price through obvious liquidity 3rd: Trigger stops and liquidations 4th: Forced selling pushes price even lower 5th: Buy back into the panic 6th: Repeat THIS is why Bitcoin can lose thousands of dollars while the number of coins on-chain barely changes. The coins didn’t suddenly disappear. The PRICE DISCOVERY mechanism changed. That’s what people are missing. Bitcoin is still scarce. But the financial claims built around Bitcoin are NOT. And when leverage controls the marginal trade... 21 million coins can behave like a market with FAR more supply than 21 million coins. That’s not the Bitcoin market retail thinks it is trading. That’s a WALL STREET PRICING SYSTEM built on top of Bitcoin. You can choose to ignore it. But don’t pretend nobody warned you. Bitcoin is now trading around $66,600, its lowest level since August and roughly 48% below the $126,200 high. If $65k breaks, the next level I’m watching is $62k. Reminder: I called the Bitcoin top at $126,000 and told you to start buying again around $60,000. The next call will matter even more. When I EXIT the markets completely, I’ll post it here publicly like I always do. Turn notifications on. If you’re not following yet, you’ll understand why that was a mistake later.

中美大模型最新现状盘点： 🔻 国内模型：集体陷入停滞 ▪️ Kimi k3.1 pro：发版 100 天，毫无技术飞跃。 ▪️ Deepseek：至今交不出合格的 Pro 版。 ▪️ GLM 5.3：惊艳发版后，近 3 个月几乎交白卷。 ▪️ Qwen 4 Max：实测表现远低于预期。 🚀 海外巨头：前沿能力狂飙 ▪️ Gemini 4 Argon：主攻深层推理与前沿 Agent，拉满 100 万上下文，能实打实自主挖漏洞及控制机器人。 ▪️ Gemini 4 Hydrogen：主打极速编码工作流，直接上线 4 档“动态思考深度（Thinking Levels）”。 ▪️ GPT 序列：正在全面铺开高级复杂推理机制。 ▪️ Claude 5 系列：高速迭代，且通过底层分类器彻底锁死了外部“白嫖”思维链数据的通道。

The Bitcoin collapse is gathering steam. I expect the momentum to pick up once Bitcoin breaks $50K. In fact, once it does, it could be a quick trip to the 2022 low below $16.5K. I wouldn't be surprised to see a retest of that level before year-end. If so, it's curtains for $MSTR.

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Jensen taught me a lot. But the most important things he taught me was to care about the details. And keep pushing no matter how long it takes you. 3 years ago, he invited me to fly on his jet with him. I was shocked. And he did it because he knew I was this unrelenting person that chased Snowflake for years to make the impossible a reality. He knew I was that person and he remembered I was that person. Few people at his level care to do either. He did both. I owe him a lot. He built a great company that changed my life forever. And he gave me the means to execute on my ambitions in a way that nothing else ever could. Praying for him, his family and everyone at NVIDIA past and present. PS. Photo is not AI generated. This flight was to Snowflake's conference!

GCSA Insight: Critical Security Vulnerability Discovered in a Leading Robotics Manufacturer’s Product, with System-Level Privilege Compromise Verified on Physical Hardware As artificial intelligence and embodied AI technologies continue to advance, robots are evolving from conventional automated machines into intelligent systems capable of perception, decision-making, and autonomous operation. At the same time, cybersecurity risks are extending beyond software and data into the physical world. The security of robotic systems is no longer solely a matter of protecting data and devices; it can also directly affect operational safety, physical environments, and user safety. Recently, the security research team of the Global Cybersecurity Alliance (GCSA) discovered and verified a critical security vulnerability in a product developed by a leading robotics manufacturer. Through in-depth analysis and multiple rounds of testing on physical hardware, the team successfully breached the device’s system security boundaries and obtained the highest level of operating system privileges in a real-world device environment, demonstrating the vulnerability’s actual impact under specific testing conditions. This research encompassed the entire process, from identifying the security flaw and assessing its risks to validating its impact on physical hardware. The findings also highlight significant challenges facing the underlying security mechanisms of embodied AI systems. The research findings and supporting evidence have been formally submitted to the manufacturer. On November 13, 2026, the manufacturer responded by email, preliminarily confirming the existence of the vulnerability and stating that it had initiated internal remediation efforts and an assessment of the scope of affected products. It is important to emphasize that confirmation of a vulnerability does not mean the associated security risks have been eliminated. GCSA will continue to monitor the manufacturer’s assessment of the affected scope, remediation plans, and subsequent security validation, and will update its research findings as new information becomes available. For intelligent systems capable of physical interaction and movement, timely, effective, and verifiable security remediation is particularly important. In accordance with responsible vulnerability disclosure principles, GCSA is currently withholding sensitive information, including the manufacturer’s identity, specific product details, the vulnerability’s underlying mechanisms, and exploitation methods. GCSA is currently seeking guidance from relevant authorities and regulatory bodies regarding the associated security risks. Taking into account the manufacturer’s remediation progress and a comprehensive assessment of potential security implications, GCSA will carefully determine the appropriate arrangements for further disclosure. Subject to appropriate conditions and upon obtaining the consent of the relevant authorities and regulatory bodies, GCSA will publicly release a detailed security insight report, providing the industry with ongoing updates on the research findings and associated risk assessments. The findings of this research are based on specific testing environments and the evidence obtained to date. They do not imply that other product models or similar robotic systems are affected by the same security issue. This security research and validation on physical hardware represent one of GCSA’s initiatives in the field of embodied AI security. GCSA will continue to advance security research, coordinated vulnerability disclosure, and industry collaboration to promote stronger security response mechanisms across the artificial intelligence sector, enhance product security, and strengthen industry trust. 🔗 Read the full report: · Stay Connected with GCSA Follow GCSA's official social media channels for the latest news, product launches, research developments, and ecosystem updates. GCSA Official Telegram Channel: GCSA Official WeChat Account: #GCSAInsight# #GCSACybersecurity# #GCSASecVibe#