The blocmates Podcast Thursday, Nov 13, 'Extreme Fear' Persists
Nov 13, 2025
The recent government shutdown has ended, potentially boosting market liquidity. Meanwhile, the fear and greed index has plummeted, signaling a bear market. A merger between Aerodrome and Velodrome is on the horizon, while Aave expands to Aptos. There are troubling reports of market manipulation affecting POPCAT liquidations. Also, Taiwan is considering Bitcoin as a strategic reserve. Lastly, Circle's Q3 results show USDC circulation doubling, and Canary Capital surprises with a novel MOG coin ETF filing.
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Extreme Fear Despite Strong Bitcoin
- Market sentiment shows 'extreme fear' even with high BTC price levels, indicating a disconnect between price and sentiment.
- Such fear parallels late-March 2025 and 2022 bear market levels, hinting at heightened downside risk despite asset strength.
Shutdown End May Return Liquidity
- The US government reopening could refill the TGA and add liquidity back into markets, which often benefits crypto price action.
- Resolution of the shutdown may reverse the temporary liquidity drain caused by unpaid employees and halted spending.
USDC Surge And Circle Expands
- Circle reported USDC circulating supply up 108% YoY to $73.7B, signaling strong stablecoin growth and demand.
- Circle is exploring an ARK token and institutional testnets, indicating broader product expansion and institutional focus.