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1. Top trader Pigeon Eugene Ng Ah Sio
Updated on November 12, 11:40 AM Beijing time:
The debate about the UNI fee switch is basically seeing the trees but not the forest.
We are witnessing firsthand how the regulatory framework supporting cryptocurrencies has changed the value recapture stance at the protocol level, and this shift will ultimately benefit token holders.
This is a very positive development for the entire DeFi industry and sets a precedent for future protocols to follow.
As time goes on, as internal sell-offs gradually fade, liquidity participants in the market will be able to assess these protocols more reliably based on fundamentals, and our crypto market will become less like a casino and more like a traditional stock market.
(Doves believe that regulatory changes will promote the development of the DeFi industry, but there is still selling pressure now, and we need to wait for a while to observe.)
2. Top trader Joshua
Beijing time November 11th 19:42 update:
STRK currently seems to fluctuate along with ZEC's pullback, so temporarily set the lower stop loss point at 0.1562 on the hourly level. If it breaks below, stop loss and re-observe.
Beijing time November 12th 13:12 update:
Long time no see +500M.
Liquidity will only start to flow back after the official announcement of the suspension is lifted, so the current market depth is still very weak.
(Joshua's STRK position has suffered losses. BTC ETF had a net inflow of 500 million yesterday, and market confidence is beginning to recover.)
3. Trader Vivian
Beijing time November 12th 8:01 update:
Asia opening update:
We are currently here.
I haven't opened a BTC long position yet.
Currently below TGIF, but still above the support level.
This means that from now until midnight, there may be another retest of TGIF, triggering a wave of decline.
This decline will cause altcoins to bleed severely.
The expected low is between 100K–101K, but there may be a lower shadow line probing down to lower levels, such as 98K–99K.
So what we need to do is: place limit buy orders in advance and wait for price drops to trigger them.
These orders may be executed between the London open and the New York open.
(Vivian believes there will be another drop within 24 hours. She has placed limit buy orders to accumulate gradually, then rebound to 108-110K.)
4. Top trader DonAlt
Beijing time November 12th 7:28 update:
This is one of the most bearish high time frame charts I have ever seen.
Usually, I think: 'Ah, everyone sees this pattern, so it won't really break out.'
'This is just a trick to make people bearish and then pull up again.'
But now I don't see any panic at all, no one is discussing this matter.
What the hell happened?
Beijing time November 12th 11:47 update:
$SOL update:
I have been bearish on SOL for a while, and now it's worth discussing the invalidation point.
It's simple, if it recovers the red range ($190–$215), the structure will restore the bullish pattern.
Prior to this, I was still extremely bearish, and it is currently only suitable for a (brief) rebound trade at the low point of the range.
(DonAlt believes that SOL is bearish in the long term and can only make short-term rebound buy orders unless it rises above 190.)
5. Top trader Willy Woo
Beijing time November 12th update:
Bitcoin Summary:
The focus this week is on Bitcoin's consolidation behavior in the $104K–$106K range. The key is to confirm whether this rebound will develop into a sustainable structural bottom or gradually fade away and trigger new volatility. The stability of momentum initiation and spot demand will determine the subsequent trend.
On-chain data still shows strong fundamentals and resilient liquidity, but the market's sensitivity is increasingly dependent on macro factors, such as the liquidity policy and fiscal dynamics of the United States.
Bitcoin has held the $97K–$98.5K range, maintaining a medium-term bullish structure and resisting a complete trend collapse. The current rebound to $105K–$106K suggests a possible formation of a bottom, preparing for future bullish expansion. However, the strength of this rebound depends on whether it can reclaim $108.5K–$110K to confirm a structural recovery.
The market is still in a tactical consolidation phase, with short-term volatility and false breakouts dominating. Strategically, the bullish structure remains intact, but Bitcoin must solidify its consolidation before transitioning to an expansion phase. The strategic focus is on constructive accumulation and confirmation signals, rather than chasing momentum-driven movements.
'Risk aversion signals' are still in a high-risk state, but have eased somewhat, indicating that pressure is under control and not a systemic collapse. If this indicator continues to decline while spot demand rises, the market may re-enter a low-risk state. However, if high risk persists, it means selling pressure may reappear, delaying the full stabilization of the trend.
Bitcoin's on-chain fundamentals remain strong, with ongoing accumulation of spot balancing the distribution of long-term holders. Demand from large holders and institutions continues to support the bottom structure, while liquidity indicators show gradual recovery. These fundamentals support the resilience of Bitcoin's trend, indicating that despite volatility, the network's structural health remains firmly bullish.
(Willy Woo believes BTC's fundamentals are still strong, and the chart structure remains bullish.)
6. Wave theory Liu Yudong
BTC November 12, 2025
A small level bottom was formed above 98332, initiating a rebound.
Starting from the blue dot, there have been 3 segments, as long as it does not break below the lower channel line (about 101700).
There is still hope for another rise to form a guiding wedge. The channel line is quite important today.
Mantou (ZEC) November 12, 2025
On November 8th, I proposed that Mantou would 'drop first, have a rebound, and then drop again', and now it has all been realized.
Starting from 750, consider it as wave 2, which usually consumes 0.2-0.618 of wave 1. It consumed 0.382 yesterday, which is within a normal range.
422.35 is the third segment of the decline, equal to the first segment position, which has been reached, and the movement is very smooth.
382.89 is the 0.5 retracement level. There is support at this position.
Wave 2 typically leaves bulls heartbroken. It is still not possible to determine if 424 is the bottom.
After wave 2 comes wave 3 of the upward movement.
(Liu Yudong believes BTC will not fall below 101700) and will continue to rise along the channel. If it breaks below, the adjustment will be more complicated, but it will still rise. The support level for ZEC's pullback is around 383.)
II. Summary
Yesterday I predicted $BTC that it would retest 103500 around 11 PM, and it dropped to a maximum of 102500 in the early morning, then oscillated around 103K. The decline was sharper than I expected, and the rebound was weaker than I anticipated. However, mainstream altcoins did not drop much; SOL dropped a bit more. I replenished 500U of SOL and 500U of MNT, built a position of 280U XPL, and did not add to AVAX and DOGE as they did not start with 16. In short, when the price reaches my psychological level, I buy a bit of spot, gradually buying as the market oscillates. The more it drops, the more I buy; if it doesn't drop, I won't buy.
Currently, the overall market direction is still bullish, buy on dips instead of chasing highs, and avoid using high leverage above 5x.
Statement:
The above information is for reference only, not trading advice. The cryptocurrency market is highly risky, and participation should be cautious.
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