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Bitcoin in Sberbank and the first exchangers The Russian crypto market is beginning to develop after the introduction of new rules for registering digital depositories and crypto exchangers on October 5. The first licenses have already been issued, and now you can check the legality of exchangers on the Central Bank website. At the moment, five digital depositories are registered, including Sber and VTB, as well as six crypto exchangers. The Moscow Exchange plans to organize cryptocurrency trading from December 1, and is already testing it. Sber is also testing cryptocurrency transactions in its mobile application and intends to introduce the possibility of such transactions for all clients from December 1. At the Sberbank investment forum “The Real Future”, German Gref urged investors to pay attention to Sberbank shares, and not to memcoins, emphasizing the importance of tokenization and digital financial assets. Vladimir Chistyukhin noted that the anonymity of cryptocurrencies is a thing of the past and now transfers must be transparent to regulatory authorities. From Bitcoin to altcoins: exchange everything on AllCharge.online

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Date: 5th November 2026. Gold Rebounds After US Midterms: Can NFP Extend the Rally? \ As the US Dollar and bond yields continue to decline, Gold finds an opportunity to rebound from its yearly lows. The US 10-year bond yield has fallen to 4.847%, the lowest level since early September. If bond yields continue to fall and inflation rises, real yields will turn negative, further supporting Gold. Inflation is likely to continue rising slightly in the upcoming months. However, lower oil prices suggest the Federal Reserve may opt for a prolonged pause following a December rate hike. Tomorrow’s US employment data will also influence market pricing for monetary policy over the upcoming six months. US Non-Farm Payroll & The Federal Reserve Markets expect the Non-Farm Payrolls report to reflect a slight improvement in the US labour market from September to October. Analysts anticipate that the US economy added 65,000 jobs, while the unemployment rate held steady at 4.2%. However, weaker-than-expected data could strengthen Gold’s bullish momentum and increase the likelihood of a sustained upward trend. Weaker US employment data could prompt the Federal Reserve to reconsider hiking interest rates in December. Economists say that weaker data would still likely see the Fed hike, but future hikes will become significantly less likely. As a result, the market will price in a maximum Federal Funds Rate of 4.00-4.25% for the foreseeable future. If the employment data come in higher than expected, the possibility of further rate hikes could remain the same as current expectations. This is that the Federal Reserve will hike by 0.25% in December, with an additional hike in the first quarter of 2027. Based on this, the price of Gold may retrace lower before potentially falling into a price range. Lower Oil Prices and Bond Yields Oil prices over the past 48 hours have been falling due to the midterms. Investors believe the US midterm election results could reduce the likelihood of further military escalation against Iran. Crude Oil prices fell to their lowest level since 1 September after declining more than 15% since the start of the week. Lower Oil prices reduce the chances of interest rate hikes and higher inflation which can support Gold. At the same time, lower bond yields may lead to negative real bond yields, which make Gold more attractive than other safe-haven assets. So far, real bond yields have fallen, which is positive for Gold, but remain considerably high. If real bond yields remain elevated and the US Dollar Index stabilises above 100.00, Gold’s bullish momentum may be restricted. US Midterm Elections Impact on Gold The US midterm elections saw the Democrats win both the House and the Senate. An interesting factor is that the Democrats also won in many states that are traditionally republican. The results saw a quick change in portfolios, shifting from the US Dollar to Gold. The reason the midterm elections are supporting Gold is threefold: the US government is likely to spend less, there may be less pressure on the Fed to hike, and there is greater political instability. Investors anticipate that a divided government could restrict fiscal expansion and borrowing. This is something that is typical when a ruling party has no control over the Senate and House. Less spending means more pressure on inflation, consequently pressuring the US Dollar and supporting Gold. In terms of political instability, the conflict between the White House, Senate, and House of Representatives creates a sense of instability and makes the US Dollar less attractive. However, even with the lower US Dollar Index, investors should be cautious that a price above 100.00 can still pressure Gold’s attempt to rise. Gold (XAU/USD) - Technical Analysis Gold rose almost 3.40% in response to the US midterms, the largest increase since August 19ths. The precious metal also added a further 2.15% during this morning’s Asian session, but has since retraced lower. HFM - Gold 4-Hour Chart Regardless of the retracement as we approach the European open, the price of Gold remains above the key moving averages on smaller time frames. In addition to this, Gold remains considerably higher than the Volume-Weighted Average Price. Oscillators, on the other hand, are providing a neutral indication due to the loss of short-term momentum. If the bullish trend regains momentum, breaking above the $4,133.60, bullish signals are likely to strengthen further. Bullish signals will also find positive confirmation if the US Dollar Index also falls below 101.05 and if Silver increases above $53.060. However, if Gold prices fall below $4,108.67, the indications are likely to weaken and provide a bearish bias. If the price continues to fall below $4,088.07, technical analysis is likely to turn fully bearish in the short term, particularly if the US Dollar Index rises above 101.25. Key Takeaways: Gold rebounds as the US Dollar and Treasury yields decline, improving demand for the precious metal following its recent losses. US employment data could determine Gold's next move, as weaker NFP figures may reduce expectations of further Fed rate hikes. Lower oil prices and US midterm results support Gold, easing inflation concerns and increasing political uncertainty. Gold's technical outlook remains cautiously bullish. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

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Elections weaken the dollar as EURUSD challenges 1.1270 The EURUSD pair is hovering near local highs, supported by US dollar weakness following the US midterm elections and a sharp decline in oil prices. The rate currently stands at 1.1254. Technical outlook The EURUSD pair continues to recover after rebounding from the 1.1120 area and is once again testing the key resistance level at 1.1269. The price is hovering above the middle Bollinger Band, while a sequence of higher local lows indicates continued upward momentum. The EURUSD forecast for 5 November 2026 indicates continued bullish momentum. Read more - EURUSD Forecast Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

XAGUSD poised for a breakout as markets await the NFP report Silver is making another attempt to recover ahead of US employment data, with prices currently standing at 52.50 USD. XAGUSD forecast: key takeaways Political developments in the US are supporting precious metals The Federal Reserve remains a potential source of pressure on silver In the coming days, particular attention will be focused on US labour market data (Nonfarm Payrolls) Fundamental analysis The XAGUSD price forecast for today, 5 November 2026, shows that silver is attempting to regain lost ground. Dollar weakness following the US midterm elections and falling US bond yields are renewing investors' interest in precious metals, but the outlook for industrial demand remains uncertain. Political developments in the US are supporting precious metals. The Democrats' victory in the midterm elections has reduced some political uncertainty. RoboForex Market Analysis & Forex Forecasts Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team

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SuperEx Educational Series: Understanding Who Sells After Positive News and How Positioning Amplifies the Decline（III） #SuperEx #EducationalSeries In the first two installments, we explained why markets trade the expectation gap and how an unconfirmed event can enter prices through clues, probability updates, and early positioning. Now we arrive at the moment of the official announcement: if substantial capital has already bought in advance, who will continue buying, and who will begin selling? Someone Is Selling, but It May Not Be Who You Think After major positive news, a sudden price decline is often explained with one phrase: “Someone is dumping.” That is technically true. Prices generally do not fall without selling. But its analytical value is roughly equal to saying traffic jams happen because there are too many cars. The useful questions are: Who is selling, and why now? Is it a new bearish view, ordinary profit-taking, a hedge adjustment, or forced liquidation? Is the selling happening in spot or derivatives? Does it express new negative information, or merely close a completed trade? Selling after positive news may come from early spot holders, event traders, market makers, arbitrageurs, token-unlock recipients, or leveraged accounts that were bullish but forced to exit. All these actions may appear as “selling,” yet their economic meanings are completely different. More importantly, the initial sell order may not be especially large. Rapid declines often occur because positioning is overcrowded, causing profit-taking, stop-losses, and liquidations to trigger one another. The good news did not suddenly become bad news. The positions simply started stepping on one another. Who Is Actually Selling After Positive News? “Sellers” are not one category of people. They are market participants with very different motivations. To understand their behavior, accept one fact: for late buyers, an announcement may represent the beginning of a new trade. For early buyers, the same announcement may signal that the trade is complete. Group One: Traders Who Positioned for the Event Event traders do not necessarily buy because they want to hold the asset long term. Their thesis may be straightforward: Buy before the market fully recognizes an upcoming event, wait for expectations and prices to rise, and exit around the announcement. Suppose a trader buys a token at $5 in anticipation of a mainnet launch. By announcement day, the token has risen to $9. Even if the launch is completely successful, the trader may sell. This does not mean the project suddenly became unattractive. The planned catalyst has occurred, and the risk-reward profile has changed. At $5, the trader accepts the risk that the event may succeed or fail. At $9, holding requires confidence that enough new buyers will enter at still higher prices. The same project and announcement can represent entirely different trades at different prices. Group Two: Long-Term Holders and Early Investors Long-term holders may not have bought because of the announcement, but they may use the resulting liquidity to reduce exposure. During ordinary periods, limited depth makes large sales disruptive. A major announcement brings volume and new buyers, allowing existing holders to sell with less price impact. This selling does not necessarily mean they have lost confidence in the project. Investors may need to rebalance portfolios, repay capital, reduce concentration risk, or simply lower an oversized position. Market behavior is often much less dramatic than social media’s language of “faith” and “betrayal.” Group Three: Token-Unlock and Incentive Recipients Major launches, ecosystem campaigns, and mainnet events sometimes occur near token unlocks, staking rewards, or incentive distributions. Recipients may sell part of their tokens to cover costs or realize returns. New demand created by the announcement must therefore absorb new supply at the same time. When a project announces the launch of ecosystem incentives, users see ecosystem expansion. The market sees both expansion and a new batch of tokens that may enter circulation. Both interpretations can be correct. The final calculation still takes place in the order book. Group Four: Market Makers and Risk Hedgers A market maker’s primary task is generally not predicting whether a project will succeed. It is providing continuous bids and offers while managing inventory risk. When many users buy following positive news, market makers may sell assets to them, reducing their inventory. To rebalance risk, they may buy spot elsewhere, adjust derivatives positions, or change quotes. Conversely, if users begin selling heavily after the announcement, market makers accumulate inventory. To prevent risk from growing, they may lower bids or sell derivatives as a hedge. On the chart, these actions appear as selling pressure. From the market maker’s perspective, they may simply be risk management. Group Five: Arbitrage Capital Arbitrageurs may hold several related positions, such as buying spot while shorting perpetual futures or trading price differences across two venues. When the event ends, spreads converge, or funding conditions change, they close the related positions. Looking at only one side may create the impression that they suddenly became bearish. For example, an arbitrageur may have bought spot and sold futures. When exiting, they sell the spot and buy back the futures. The spot market sees selling pressure, while the derivatives market sees buying. Only by combining both legs can we recognize that this is not a directional bearish trade, but the closure of an arbitrage position. Why Do Different Types of Selling Have Different Market Implications? Market interfaces show trade direction and price, but they do not include a note saying, “This user is merely taking profit and is not personally disappointed with the project.” We therefore need to combine spot activity, derivatives data, and open interest to infer what type of behavior may be occurring. A Spot Holder Sells A spot sale transfers actual tokens from seller to buyer. It consumes bids in the order book but does not directly change derivatives open interest. If large token transfers enter exchanges while spot selling increases, sellable supply may be growing. A Long Position Closes Voluntarily When a futures long closes, the trader sells contracts to exit an existing position. This will generally reduce open interest. It indicates that bullish exposure is leaving the market, but not necessarily that the trader has opened a short position. A New Short Position Opens A new short also sells contracts. However, because a new position is being created, open interest may increase. The distinction from long closing is important. One represents bullish exposure leaving; the other represents new capital actively positioning for a decline. A Leveraged Long Is Liquidated When a leveraged long no longer has sufficient margin, the system takes over and closes the position. This selling is not a new market opinion. It is the result of risk rules forcing the position to exit. The liquidated trader may remain extremely bullish until the final second, but the account no longer has enough capital to express that view. When prices fall, knowing that selling increased is not enough. We should also ask: Did spot volume expand? Did open interest rise or fall? Was funding persistently elevated? Did the decline coincide with large liquidations? What Can Open Interest Actually Tell Us? Open interest is the total number of futures contracts that remain open and have not yet been offset or settled. It differs from trading volume. Volume measures how many contracts changed hands during a period, while open interest measures how many contracts remain active afterward. Open interest rises when new contract positions are created and falls when existing positions are closed. Each contract contains both a long and a short, so open interest alone does not prove that the market is broadly bullish or bearish. This distinction matters. Some people see rising open interest and conclude that “longs are increasing.” But every new long requires a corresponding short. What rising open interest truly indicates is that more exposure is entering the market. Price and open interest should be examined together to obtain more useful clues. The following combinations are analytical guides, not definitive conclusions. Price Up, Open Interest Up This generally indicates that new contract positions are being created during the rally, increasing both participation and market exposure. If funding is also strongly positive, longs may be willing to pay a higher cost to maintain positions. However, substantial new shorts may still be entering at the same time. Price Up, Open Interest Down This may indicate short covering or the closure of existing positions during the rally. The move can be sharp, but its persistence requires further confirmation if new exposure is not entering. Price Down, Open Interest Down This is often associated with long closing, stop-losses, or liquidations. Existing exposure is being removed. If open interest falls significantly and funding normalizes afterward, the market may be undergoing deleveraging. Price Down, Open Interest Up This may indicate new short positions or increased hedging activity. It can be more significant than simple long closing because new downside exposure is entering the market. These combinations provide clues, not certainty. Aggregated open interest cannot identify every account, explain each motivation, or fully capture cross-platform and off-exchange positions. It works better as one piece of evidence than as a crystal ball. Why Can Funding Rates Reveal Crowded Positioning but Not Predict the Top? Perpetual futures have no fixed expiration date, so funding mechanisms help keep contract prices anchored near spot prices. Under common designs, when perpetual prices trade above spot and demand for long exposure is strong, funding is often positive and longs pay shorts. The reverse may produce negative funding. Positive funding means that maintaining long exposure carries a cost under the current market structure. The higher and more persistent the rate, the more crowded long positioning may be. But “crowded” does not mean “an immediate decline is guaranteed.” As long as price appreciation exceeds the funding cost, longs can remain profitable. During strong trends, funding may stay positive for an extended period while prices continue rising. The danger emerges when new buying slows and crowded longs depend on the same exit direction. A door may look wide enough until everyone tries to leave at once. Funding should therefore be interpreted alongside price, open interest, and market depth: Rising price, rising open interest, and persistently high funding may indicate increasingly crowded longs. If price stops rising while funding remains high, longs continue paying while new buying may be weakening. Falling price with rapidly declining open interest often suggests leveraged positions are exiting. Funding is not a short-selling button or a countdown to the end of a rally. It is closer to a thermometer showing whether positioning is becoming overheated. How Can Ordinary Selling Turn into a Liquidation Cascade? Leverage magnifies returns and also shortens the distance a price can move against a position. With 10x leverage, a trader posts relatively little margin to control a much larger notional position. A modest adverse move can quickly reduce account equity toward the minimum required to maintain the position. The CFTC similarly warns that margin and leverage amplify the risks of cryptocurrency futures. When prices move against a position, traders may need to add margin or close the position, magnifying losses. CFTC: Understand the Risks of Virtual Currency Trading A liquidation cascade is not necessarily one enormous sell order falling from the sky. It is usually a feedback chain. Consider a simplified example. A token rises from $8 to $12 before a major announcement. Futures open interest increases from $30 million to $90 million, while funding remains positive. Many traders expect the announcement to drive further gains and open leveraged longs. The order book around $12 still appears normal, but a large number of stop-loss and liquidation levels are concentrated between $11 and $10. The announcement matches expectations but does not exceed them. Early spot holders begin taking profit, pushing the price from $12 to $11.50. This is the first wave of selling, and it may not be especially large. When the price breaks below $11.50, some short-term longs trigger stop-losses. They sell contracts, pushing the price toward $11 while open interest begins declining. This is the second wave, generated by risk controls and voluntary position closures. As the decline continues, highly leveraged accounts no longer have sufficient margin and liquidations begin. Closing those long positions creates further selling demand. These orders consume additional bids and push the price into the liquidation zones of more accounts. Price declines cause liquidations, liquidation selling causes further declines, and the new decline triggers more liquidations. What began as ordinary profit-taking by early holders can become a rapid move from $12 to $9.80. This is why liquidation-driven moves often appear disproportionate. The initial information change may be small, but the market structure contains accumulated leverage risk. Once triggered, prices must process not only the news but also all the fragile positions built beforehand. Why Does Liquidity Determine Whether a Decline Gets Out of Control? The same sell order can produce very different outcomes under different liquidity conditions. If substantial real bids exist in the order book, early profit-taking may be absorbed quickly. If bids are thin, selling can sweep through several price levels. Resting orders may also be withdrawn around major announcements. Facing uncertainty and rapid volatility, market makers may widen spreads, reduce quote size, or wait for stability before restoring depth. Liquidity that previously appeared sufficient can suddenly disappear. The depth displayed before an announcement may therefore differ from the depth actually available during intense volatility. Some liquidity resembles plastic chairs at a crowded event. Everything looks fine until everyone tries to sit down at once. When leverage is concentrated, liquidation levels are nearby, and order-book depth is limited, a modest sell-off can become a nonlinear decline. Market risk analysis must therefore consider not only the direction of the news, but also how crowded positioning is, how much leverage exists, and how much selling the exit path can absorb. Three Common Misunderstandings Misunderstanding One: Rising Open Interest Means More Longs Not precisely. Every contract contains one long and one short. Rising open interest means more derivatives exposure has entered the market. Direction requires additional context from price, funding, basis, and order flow. Misunderstanding Two: High Funding Means Price Must Fall Immediately Also incorrect. High positive funding means long exposure is expensive and may be crowded. But prices can continue rising during a strong trend. Risk becomes more serious when momentum weakens while leveraged exposure continues growing. Misunderstanding Three: Every Liquidation Is the Platform “Hunting” Users Liquidation is fundamentally a margin-risk mechanism. When account equity can no longer support position risk, the system closes the position to prevent losses from expanding. Users should understand each platform’s mark price, margin, maintenance requirements, and liquidation rules. But not every leveraged liquidation can be explained as deliberate price manipulation by the platform. Taking SuperEx as an Example: How Can Users Identify Overheated Positioning? Taking SuperEx as an example, users analyzing major announcements should examine more than the contract price. Funding rates, the basis between spot and derivatives, market depth, and personal margin levels also matter. SuperEx perpetual contracts use funding rates to help anchor contract prices to spot prices. Funding calculations consider the basis between internal contract prices and external spot prices, with settlement arrangements depending on the trading pair and market conditions. SuperEx Perpetual Funding Fee Rules Persistently elevated funding cannot predict a decline by itself, but it can warn users that maintaining long exposure is becoming more expensive and that the market may contain substantial one-directional positioning. This is a reason to evaluate whether a position can survive normal volatility, not a reason to increase leverage simply because many others are long. According to SuperEx’s liquidation documentation, the safety of a contract position is linked to its margin ratio. When the liquidation condition is reached, the system takes over and closes the relevant position. Users can estimate liquidation prices with the contract calculator, although actual results in multi-position accounts may depend on the overall account state. SuperEx Forced Liquidation Explanation SuperEx uses funding rates, index prices, margin requirements, and liquidation rules as multiple layers of derivatives risk management. These mechanisms cannot eliminate volatility or choose position sizes for users, but they provide a defined basis for risk calculation and position management. Effective risk control does not begin by investigating a liquidation afterward. It begins by knowing the liquidation distance before opening the position. Conclusion: A Decline May Begin with an Opinion, but Positioning Can Eventually Take Control The first wave of selling after positive news may come from early profit-taking, long-term portfolio reduction, token-unlock recipients, arbitrage closure, or market-maker risk adjustments. This does not necessarily mean the project’s fundamentals suddenly deteriorated or that all capital became bearish at once. What determines whether the decline expands is market structure. If open interest is high, funding remains positive, leveraged longs cluster around similar prices, and order-book depth is limited, ordinary profit-taking may trigger stop-losses, which trigger liquidations, which create further selling. The full chain often looks like this: Early holders sell; Price begins to decline; Short-term longs trigger stop-losses; Open interest falls; Highly leveraged positions are liquidated; Liquidation orders consume market depth; Price declines further. When positive news is followed by a decline, do not ask only who is dumping. More useful questions are: why did the first sell order appear, how much leverage risk had accumulated, and whether available liquidity could allow everyone to exit in an orderly way. Part I explained why prices trade the expectation gap. Part II showed how expectations enter the price in advance. Part III has now added the positioning layer. In Part IV, we will address the most practical question: before an announcement, how can users combine price performance, volume, open interest, funding, market depth, and options data to estimate how much positive news may already be priced in? About SuperEx As the world’s first Web3-powered cryptocurrency exchange, SuperEx has remained committed to building the Web3 ecosystem. Over the years, it has introduced a comprehensive range of products and services, including SuperEx DAO, SuperEx Web3 Wallet, Super Start, SuperEx P2P, SuperEx Stock Markets, SuperEx Copy Trading, SuperEx Earn, and SuperEx DAO Academy, creating a full-spectrum ecosystem that spans every major sector of Web3. Today, SuperEx serves over 10 million users, with a social media community of more than 600,000 followers across 166 countries and regions worldwide. The platform supports 1,000+ cryptocurrencies for both spot and futures trading. Seamlessly integrated with Super Wallet, SuperEx provides decentralized asset custody while combining the trading efficiency of a centralized exchange with the security of a decentralized exchange.