#btc Analysis of BTC today from experts Bitcoin Price: Deep Decrease
Early this morning (November 4), Bitcoin - the largest cryptocurrency in the world by market value saw a deep decline of 2.33%, reaching a level of 107,831.56 USD.
Data from Binance - the largest cryptocurrency exchange in the world shows that Bitcoin continuously "turned around", dropping to the mark of 107,000 USD. Source: Binance.com This new price level contributed to bringing the market capitalization to 2.160 trillion USD, a decrease of 61 billion USD. However, the trading volume in 24 hours increased to 46.85 billion USD, an increase of 16.56 billion USD.
Analysis and forecast$BTC
Meanwhile, Treasury Secretary Scott Bessent warned that the Fed's tightening "may have pushed part of the economy, especially housing, into recession". His statements reinforced concerns that interest rate cuts may stem from economic weakness rather than confidence in a soft landing.
CME's FedWatch tool currently shows a 69.3% probability for another interest rate cut in December, down sharply from previous expectations.
In the event of Bitcoin's decline below 107,500 USD, it will trigger a wave of forced liquidation, increasing selling pressure. Ethereum is heavily affected with 85.6 million USD in long liquidations, followed by 74.6 million USD of Bitcoin and 35 million USD of Solana.
Analysts are currently warning that if Bitcoin drops below 106,000 USD, the market may face an additional 6 billion USD in liquidations, potentially prolonging the correction.$BTC
#ZK Although the application of ZKP in the crypto field is rapidly expanding, attention and awareness are not evenly distributed among different groups and projects. The focus and resources are concentrated on solutions that enhance scalability and cross-chain interaction. These project teams are significantly dominating the R&D direction of ZKP in crypto. Currently, one of the major challenges that these project teams face is the overall performance of the system. A key part of ZK applications lies in the Proving System they use. To improve performance, ZK applications must begin to enhance their proving systems to operate efficiently in their systems. The market has many different proving systems, each with certain trade-offs and suitable for specific use cases. Accordingly, the optimization needs also differ for each application. For example, Starknet is a project that uses a proving system based on STARK proofs. Currently, Starknet's system can handle a maximum of 50 - 100 tps. For the system to handle 10,000 tps, the project has conducted research and planned to build a new Proving System called STWO, optimized for the proof generation process along with other improvements to increase the system's performance over time. #zk $ZK