China October CPI and PPI Data Released
China's October consumer prices rose 0.7% year-over-year, slightly below the estimated 0.8%. Producer prices increased 5.7% year-over-year, exceeding the expected 5.3%.
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The U.S. stock market lost an implied $300 billion within one minute after futures opened following news related to Jensen Huang. Six minutes later, S&P 500 futures reversed and gained $350 billion, resulting in a total $650 billion swing, according to The Kobeissi Letter.
Nvidia announced its board is investigating whether CEO Jensen Huang was targeted by a foreign intelligence effort. The probe follows a media report alleging Huang had a close relationship with a Chinese businesswoman who reportedly passed information to Beijing.
Arbitrum's weekly roundup highlights Cross River Bank building a tokenized lending platform on Arbitrum One via Offchain's Enterprise Services. Robinhood Chain surpassed $100B in volume on Uniswap, while USDG lending on Morpho reached $143M on Arbitrum One.
China's October consumer prices rose 0.7% year-over-year, slightly below the estimated 0.8%. Producer prices increased 5.7% year-over-year, exceeding the expected 5.3%.
This massive $ETH bull got fully liquidated on his 56,667 $ETH ($118.4M) long during the market crash! He lost $44.78M in total.

China wholesale inflation hits over four-year high as consumer measure slows
Bitcoin Live published a member report titled 'Cryptocurrency Market Update - Nov 8th 2026' covering BTC and a broad list of altcoins including ETH, SOL, XRP, DOGE, and others. The report was posted by Cheds Trading and includes both a member link and a free report link.
Construction progress at SpaceX's and Tesla's Terafab facility has been shared, with Elon Musk targeting useful chip production at volume around Q3 2028. Once fully built out, the Terafab will be a vertically integrated factory with more than 100 million square feet of manufacturing space, roughly 10 times the size of comparable facilities.
Whale Alert detected a transfer of 412,004 HYPE tokens, valued at approximately $30.6 million, from an unknown wallet to FalconX. The large movement may signal institutional trading or custody activity.
A busy macro week is approaching with October CPI on Tuesday, the SEC deadline on crypto ETF options on Wednesday, and PPI on Friday. Friday's jobs report showed 165k payrolls and unemployment falling to 4.1%, with upcoming inflation data expected to shape the December Fed decision. The author highlights Bitcoin's reaction as a key focus.
US Senator Richard Blumenthal, incoming chair of the Senate Permanent Subcommittee on Investigations, sent letters to World Liberty Financial, Fight Fight Fight LLC, Binance, and Tether demanding records tied to investigations of Trump-linked crypto ventures. The move signals increased congressional scrutiny of cryptocurrency projects associated with the Trump family.
China's Producer Price Index (PPI) rose 5.7% year-over-year in October, exceeding the market estimate of 5.3% and accelerating from the previous reading of 5.0%. The stronger-than-expected data signals persistent upstream price pressures in the Chinese economy.
Short interest in Hims & Hers Health has risen to 23% of float ahead of the company's upcoming earnings report. The elevated short positioning raises questions about whether the stock can break out post-earnings.
Whale Alert reported that 250,000,000 USDC, worth approximately $250,054,000, was minted at the USDC Treasury. Large stablecoin mints are often watched as potential indicators of incoming liquidity or buying pressure in crypto markets.
Senator Blumenthal's Senate Permanent Subcommittee on Investigations sent official letters to Binance, Tether, World Liberty Financial, and Fight Fight Fight LLC demanding records by January 4, 2027. The probe covers illicit crypto use, with the subcommittee warning it will seek other means if the deadline is missed.
Iraq's oil minister announced that the country's crude production has surpassed 5 million barrels per day, exceeding its OPEC+ quota of 4.431 million bpd by more than half a million. Since OPEC+ quotas are based on production rather than exports, the overproduction complicates Baghdad's efforts to secure a larger output baseline for 2027.
Upbit's weekly trading volume fell 20.8% to 6.7 trillion won ($4.9 billion) in the week ended November 8. XRP was the most traded cryptocurrency on the platform, followed by Bitcoin and USDT.
Spot gold prices climbed nearly 1%, reaching $4,104.09 per ounce. The move reflects continued bullish momentum in the precious metals market.
U.S. Senator Richard Blumenthal has issued a deadline of January 4th for Binance, Tether, and Trump family crypto firms to hand over records as part of ongoing investigations. The demand signals increased regulatory scrutiny of major crypto entities and politically connected digital asset businesses.
Elon Musk's Terafab, a Tesla-SpaceX joint venture, has informed equipment suppliers of plans to produce 1 million wafers per month by 2032, allocating 700,000 to memory chips and 300,000 to logic chips. The venture's procurement team has approached Japanese chipmaking equipment suppliers, according to Nikkei.