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[Tapbit @Tapbitglobal]

Daily Market Bits 📊 SEC Enforcement Hits 35-Year Low, Crypto Fraud Remains in Focus

The U.S. SEC reported 348 enforcement actions in fiscal 2026, down approximately 24% from 456 a year earlier—the lowest total since 1991, according to a Reuters review. The results were released on November 10.

Crypto-related actions had already fallen to 13 in calendar 2025 from 33 in 2024, according to Cornerstone Research. However, the latest annual report still highlighted crypto-fraud enforcement, including an alleged scheme involving trading platforms and investment clubs that defrauded investors of at least $14 million.

Tapbit Insight: Fewer cases do not mean a blanket easing of crypto oversight. In our view, clearer rules for token issuance and trading would provide stronger support for institutional participation than lower enforcement totals alone.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, or trading advice.

[Tapbit @Tapbitglobal]

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[Tapbit @Tapbitglobal]

Daily Market Bits 📊 Bitcoin Falls Below $75K as Weekly ETF Outflows Reach $1.28B

bitcoin:native traded near $74,540 at 09:00 UTC on November 9, following a Sunday low near $73,700. During the sell-off, 24-hour crypto liquidations exceeded $1 billion, including approximately $931 million in long positions, according to CoinGlass figures.

U.S. spot Bitcoin ETFs recorded $1.28 billion in net outflows during November 2–6, with BlackRock’s IBIT accounting for approximately $1.21 billion.

Tapbit Insight: Heavy long liquidations likely amplified the decline, while ETF withdrawals point to weak fund demand. Watch whether ETF flows improve as forced selling subsides; easing liquidations alone would not confirm a sustained recovery in buying demand.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, or trading advice.

[Tapbit @Tapbitglobal]

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[Tapbit @Tapbitglobal]

Daily Market Bits 📊 Bitcoin Falls Below $76K as Crypto Liquidations Top $1B

U.S. stocks and crypto sold off on November 5 amid concerns that Democratic election gains could slow the AI infrastructure buildout. $BTC fell below $76,000 and $ETH traded near $2,250 during the sell-off, while the Nasdaq Composite closed 5.5% lower.

Figures reported at 16:15 UTC on November 5 showed $1.03 billion in crypto liquidations over the preceding 24 hours. Over the four-hour window, $818.9 million of the $879.9 million liquidated came from long positions.

Tapbit Insight: Heavy long liquidations suggest leverage may have amplified the sell-off. Watch whether policy proposals or permitting changes translate into delays or higher costs for AI data-center projects.

For informational purposes only. This content does not constitute financial, investment or trading advice.

[Tapbit @Tapbitglobal]

📊 Daily Market Bits | U.S. Services PMI Slips to 54.5

The U.S. ISM Services PMI fell to 54.5 in October, below the 54.8 forecast and September's 54.9, while remaining firmly in expansion territory.

The Employment Index rose to 51.4, while the Prices Index eased to 73.0 from 74.0 but remained elevated, pointing to persistent cost pressures.

Tapbit Insight: Services continued to expand and hiring improved, but input-cost pressures remained elevated. The next test is whether upcoming inflation or jobs data further raise rate expectations, potentially lifting Treasury yields and the dollar while weighing on gold and rate-sensitive assets.

For informational purposes only. This content does not constitute financial, investment or trading advice.

[Tapbit @Tapbitglobal]

Daily Market Bits 📊 Democrats Win Congress, Markets Pare Early Losses

Democrats have won control of both the House and the Senate in the 2026 U.S. midterms. As results came in overnight, Nasdaq 100 futures fell more than 2% at their lows before recovering most of the decline. Asian chip stocks sold off sharply in early trade, but markets pared losses once the outcome became clear. Korea’s KOSPI closed higher, while Japan’s Nikkei ended down about 1.4%. Bitcoin briefly dropped to around $75,600, a seven-week low, before rebounding toward $78,000.

The new Congress could reshape the policy outlook for AI investment, fiscal spending and crypto regulation over the next two years. That includes market structure legislation such as the CLARITY Act.

Tapbit Insight: A Democratic House was widely expected, but a Senate flip was less certain. The overnight selloff and quick rebound suggest markets were repricing that surprise, then welcoming the removal of uncertainty. From here, price action may depend more on macro conditions and on how committee leadership approaches tech and digital-asset oversight than on the election result itself.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, or trading advice.

[Tapbit @Tapbitglobal]

@zexi_sol is the day

[Tapbit @Tapbitglobal]

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[Tapbit @Tapbitglobal]

📊 Daily Market Bits: Anthropic Publicly Files for Proposed IPO, Seeks Nasdaq Listing as ANT

@AnthropicAI, the company behind @claudeai, publicly filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission on October 26, 2026.

The company intends to list its Class A shares on the Nasdaq Global Select Market under the ticker ANT. The number of shares, price range and offering date have not been determined, leaving the IPO’s size and valuation unconfirmed.

Tapbit Insight: The offering could provide a new public-market valuation reference for frontier AI companies. Investors should compare the eventual pricing with Anthropic’s revenue growth, funding requirements and capital-intensive computing commitments to assess how much public markets are willing to pay for AI exposure.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment or trading advice.

[Tapbit @Tapbitglobal]

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[Tapbit @Tapbitglobal]

2/
🔗 Read-through
• $NVDA: Amkor’s Oct. 21 expansion announcement brought its multi-year agreements with NVIDIA to $3B. It supports the long-term packaging buildout, not proof of Q3 revenue.
• $TSM / $ASX: Compare advanced-packaging demand and margins. Similar weakness would raise broader sector risk; divergence would point more toward Amkor’s mix or execution.

For informational purposes only. This content does not constitute financial, investment or trading advice.

[Tapbit @Tapbitglobal]

1/
📡 Tapbit Earnings Radar | AMKR: Can the Computing Ramp Offset Soft Communications?

Amkor reports after the U.S. close on Oct. 26, with its earnings call scheduled for 5 p.m. ET.
The test: can a near-30% Q/Q Computing ramp offset a high-single-digit Communications decline—and deliver the margin step-up in guidance?

📊 The Numbers
• Q3 revenue estimates: $2.02B (Earnings Whispers)–$2.04B (Benzinga), only $20–40M above the $2.00B guide midpoint; roughly +1.7%–2.7% YoY and +6.4%–7.5% QoQ. Estimates checked Oct. 26.
• EPS: $0.79 non-GAAP consensus (Benzinga); $0.82 Earnings Whispers number, with EPS basis unspecified. Company diluted EPS guide: $0.72–$0.82.
• Company Q3 guide: $1.95–$2.05B revenue; 18.5%–19.5% gross margin, versus Q2’s 16.8%. FY26 CapEx: approximately $2.5–3B. (Amkor Q2 release, July 27)
• Q3 outlook: Computing nearly +30% QoQ; Communications down high single digits. Q2 revenue mix: Computing 22%, Communications 42%. (Amkor Q2 call, July 27)
• Q4 revenue estimate: $2.04B (Benzinga). $AMKR closed at $39.30 on Oct. 23, down 26.3% from Sep. 23.

📈 Bull Case
Revenue reaches or exceeds ~$2.04B, gross margin approaches 19.5%, and Q4 guidance midpoint meets or tops Benzinga’s $2.04B estimate. That would support the case that Computing and automotive can offset Communications softness.

📉 Bear Case
Revenue lands near $2.00B, gross margin near 18.5%, and Q4 guidance falls below $2.04B while Communications remains weak. An in-range Q3 result may still disappoint if the forward mix does not improve.

🔍 What Really Matters
Management tied the Q3 Communications decline partly to the SiP move to Vietnam, memory constraints and customer build patterns. It also expects no significant seasonal lift in Communications in Q4. A Q3 beat matters less if Computing growth cannot sustain the margin improvement.

💡 Tapbit View
Neutral-to-cautious: a 26% monthly decline alone doesn’t prove the earnings bar is low. A more constructive setup would require Q3 gross margin near the top of guidance and Q4 guidance showing Computing and Automotive & Industrial can offset continued Communications softness.

[Tapbit @Tapbitglobal]

Tapbit Wealth Monday 🦄

ethereum:0x1f9840a85d5af5bf1d1762f925bdaddc4201f984 has pulled back to around $6.90, down roughly 6% over the past week, and is still looking for short-term support. Meanwhile, @Uniswap v4 Aggregator Hooks are now live as protocol development continues.

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[Tapbit @Tapbitglobal]

📈 Bull Case
Cloud-storage demand absorbs rising supply, price per terabyte remains firm, and WDC delivers its 60–61% Q2 margin guide while exabyte shipments accelerate.
That would suggest the selloff reflects valuation and positioning more than deteriorating fundamentals.

📉 Bear Case
Industry supply grows faster than demand, forcing WDC to trade pricing for shipment growth.
A decline in price per terabyte or margin guidance would provide stronger evidence that the market is anticipating a turn in the HDD cycle.

🔗 Read-through
• $STX: The same pricing-versus-supply test applies across nearline HDDs. Firm industry pricing would support both companies; WDC-specific market-share gains would not.
• $MU / $SNDK: Strong cloud-storage demand is supportive context, but HDD results do not establish NAND or HBM pricing.

💡 Tapbit View
This report weakens the near-term demand bear case, but it does not settle the longer-term cycle debate.
The decisive question is whether WDC can keep increasing exabyte shipments without giving back pricing.
If margins and price per terabyte hold as supply expands into late 2027 and 2028, current concerns may be premature. If shipment growth begins requiring price concessions, the market may be early—but directionally right.
For $WDC , $STX and the AI-storage chain, the turning point will not be one quarter’s EPS. It will be a measurable change in industry pricing and supply-demand balance.

Markets don’t trade today’s earnings alone. They trade the gap between today’s results and tomorrow’s expectations.

For informational purposes only. This content does not constitute financial, investment or trading advice.

(2/2)

[Tapbit @Tapbitglobal]

✍️ Tapbit Earnings Decoded｜WDC Beat the Numbers - Why Did Shares Still Fall?

Western Digital beat every published benchmark tracked before the release. Yet $WDC fell another 6.5% after hours, after declining 6.4% during regular trading before the results.
This was not a weak earnings report. The real question is how long the current growth, pricing and margins can last.

📊 The Results
• Revenue: $4.38B (+55% YoY) vs. $4.14B expected.
• Non-GAAP EPS: $4.64 vs. $4.06 expected.
• Gross margin: 58.1%, above the company’s 55–56% guide.
• Q2 guide: $5.0–5.2B revenue and $5.60–6.00 EPS, vs. $4.51B and $4.72 expected.
• Free cash flow: $1.38B; exabyte shipments rose 22% YoY.
EPS and margins are non-GAAP. Expectations reflect Oct. 22 pre-release snapshot.

🔍 What the Market May Be Repricing
No single explanation for the selloff has been confirmed. Three longer-term questions stand out:

1. Future supply
Toshiba’s reported expansion has renewed concerns that HDD supply could eventually grow faster than cloud-storage demand.
But announced capacity is not the same as customer-qualified supply—and neither automatically means oversupply. The real test is whether total exabyte supply, including gains from higher-capacity drives, begins outpacing demand.

2. The valuation hurdle
$WDC had rebounded 14% from Oct. 16–21. Even after clearing published estimates, the results may have fallen short of a higher, unverified investor hurdle.
The selloff may therefore reflect a lower valuation on future earnings rather than weaker current demand.

3. Earnings durability
WDC currently benefits from tight supply, improving price per terabyte and a shift toward higher-capacity drives.
Management expects further pricing gains over the next three to four quarters. But less future volume is covered by long-term agreements and their pricing terms, leaving more uncertainty beyond the current outlook.

(1/2)

[Tapbit @Tapbitglobal]

What to Watch Next
1. Stablecoin Supply & Treasury Allocation
Rising USDT/USDC supply alongside increased T-bill holdings → Potential support for short-term US Treasuries. The impact depends on actual reserve allocation.

2. Crypto Liquidity & Spot Demand
Higher stablecoin inflows to exchanges combined with stronger spot buying → Bullish for BTC and ETH. Rising trading volumes could also benefit crypto exchanges like Coinbase.

3. Reserve Yields & Issuer Earnings
Falling T-bill yields without sufficient USDC growth → Bearish for Circle's ($CRCL) earnings. Stronger circulation growth and controlled costs could offset this pressure.

Tapbit View: The bigger opportunity lies in how stablecoin growth connects crypto with traditional finance. More stablecoin supply could support Treasury demand, but higher crypto prices require evidence that additional liquidity is reaching trading markets.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, or trading advice.

[Tapbit @Tapbitglobal]

How Could the GENIUS Act Reshape Crypto and Traditional Markets?

The @USOCC's finalized stablecoin rules mark another step toward a regulated US stablecoin market. But what could this mean for crypto and traditional assets?

Cross-Asset Impact
- Crypto-related equities: Clearer rules could support stablecoin business growth for companies like @circle ($CRCL) and @coinbase ($COIN), although higher compliance costs may offset some benefits.

- Traditional finance: Expanding stablecoin issuance could increase demand for short-term Treasury bills, as issuers maintain liquid reserves to back their tokens.

- Crypto: Greater stablecoin adoption could deepen on-chain liquidity, but its impact on BTC and other assets depends on whether new capital enters crypto trading markets.

[Tapbit @Tapbitglobal]

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[Tapbit @Tapbitglobal]

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[Tapbit @Tapbitglobal]

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, or trading advice.

[Tapbit @Tapbitglobal]

Daily Market Bits 📊

@USOCC Finalizes GENIUS Act #Stablecoin Rules

The U.S. Office of the Comptroller of the Currency has finalized rules covering payment stablecoin issuers under its jurisdiction. The rules take effect January 18, 2027, setting standards for reserve backing, redemption and risk management.

The move follows February’s proposal. Application openings will be announced separately, while anti-money laundering and sanctions requirements remain subject to separate rulemaking.

Tapbit Insight: This gives issuers greater certainty about compliance. For markets, the next evidence to watch is actual licensing, product launches and payment usage. Those developments would help show whether regulatory clarity translates into broader stablecoin adoption; finalizing the rules alone does not establish stronger demand.