Due to uncertainty in Fed policy and sector rotation in the AI field, SQT has experienced high volatility recently, with signs of capital outflow. On-chain data indicate that long-term holders still display strong holding intentions, and panic selling has not occurred—market structure remains neutral to stable. In the short term, focus on key support at 0.0004687, with resistance above 0.0005562. Considering that market preference for AI assets is shifting toward projects with real-world applications, it is recommended to control positions in phases, avoid chasing highs, opt for buying low and selling high, and wait for new capital inflow signals after rotation pressure in the sector eases.

Recently, Bitcoin tested key support levels around the Fed's interest rate decision, leading to short-term technical corrections and seesaw-like pullbacks in the market. On November 3, SQT experienced a substantial gap-up opening, touching an intraday high of 0.0008671 before swiftly falling to a low of 0.0005521—a single-day amplitude close to 50%, with clear agitation in both capital flows and sentiment. In the following sessions, SQT continued to decline, reflecting the amplifying effect of risk-averse sentiment on small-cap tokens in the short term.

Bitcoin is testing the $111,000 support level ahead of the Federal Reserve's interest rate decision, with analysts expecting a technical correction and potential for a strong rebound targeting $150,000. Gold has fallen below $4,000, prompting Goldman Sachs to lower its short-term target to $3,800 due to reduced geopolitical risks and potential profit-taking, though its long-term value as a hedge remains intact amid global uncertainties.

Trading Moment: Bitcoin tests the $111,000 support ahead of the Federal Reserve's interest rate decision, while gold's short-term target is downgraded by Goldman Sachs after falling below $4,000.

Matrixport's research indicates that Bitcoin has entered a critical price range, signaling an acceleration in ownership transfer. Despite the market appearing calm on the surface, underlying currents are strong, and a directional trend is forming following structural adjustments.

Matrixport Research: Bitcoin Enters Key Price Range, Ownership Transfer Accelerates

On-chain data show that there hasn’t been a concentrated sell-off from old coin holders, and the 30-day average coin holding period remains at the level of several months. Panic dumping has not occurred. From November 3 to November 6, SQT trading volume gradually fell from about 239 million to around 50 million, with the price repeatedly tested in the 0.0004687–0.0006176 range. With volume and price coordination, selling pressure has initially been absorbed, and market structure remains neutral to stable in tone. In the short term, observe the effectivity of support at 0.0004687 and resistance strength above 0.0005562.

CryptoQuant analyst Axel Adler Jr noted that old coin activity has remained moderate over the past month, with daily ASOL briefly rising but still much lower than during active periods in spring and June. The 30-day moving average stays around 111 days, indicating the market is at a structural baseline with no signs of panic selling. Holders are not rushing to take profits, and inflows continue to absorb new coin supply.

CryptoQuant analyst: The market is at a structural baseline level, with no signs of panic selling.

The current market hotspot is shifting progressively toward AI-driven projects with practical scenarios. The x402 protocol, boasting concepts like gas-free intelligent proxy payments, has been promoted by major exchanges, greatly enhancing transaction volume and ecosystem value. In contrast, small-cap tokens lacking direct application scenarios are experiencing reduced liquidity in the short term due to capital diversion. SQT’s average daily trading volume has significantly shrunk compared to previous periods, and short-term capital allocation may continue favoring AI sub-sectors with high growth expectations. Caution is advised regarding potential secondary shocks from ongoing sector rotation.

The x402 protocol saw a massive surge in weekly trading volume, driven by meme coin PING and support from major exchanges like Coinbase and Binance, pushing its ecosystem value over $780 million. Despite a recent cooling, x402 is pioneering AI-driven, ad-free, gas-free smart agent payments, becoming a foundational element for the AI economy. Meanwhile, the crypto market declined amid a "hawkish" Fed rate cut, with investors shifting focus to practical AI projects and real-world value creation.

Weekly Highlights | x402 Protocol Explodes; Fed's "Hawkish" Rate Cut, Crypto Market Declines

SubQuery Network

Fed Pumps $8.26B Into Markets Overnight, Is Something Bigger Unfolding?

Federal Reserve's Logan should not imply easing policy guidance.

The Federal Reserve's Kashkari and Harker stated that the conflict has changed the interest rate outlook, and maintaining an accommodative stance is no longer appropriate.

Global news you need to know before the US stock market opens on Friday.

Fed's Hammack: Uncertainty around economy, policy path has risen

Two Federal Reserve officials said they dissented over this week’s policy statement because it was no longer appropriate to signal the Fed’s next move was still likely to be an interest-rate cut.

Fed's Kashkari: Large enough price shock could require series of rate hikes

BoE's Pill: Should act more promptly in response to new inflation pressure

Kashkari: Previously thought inflation might decrease, but this year it is necessary to cut interest rates again.

Hamac: Inflation pressure is widespread, energy drives prices higher

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