Deep Dive
1. Security Anxiety (Bearish Impact)
Overview:
On June 2, 2025, Nervos’ cross-chain Force Bridge suffered a $3.9M exploit, with stolen funds laundered via Tornado Cash. Though patched, South Korea’s DAXA issued an investor alert on November 10 (CoinMarketCap), citing unresolved bridge vulnerabilities.
What this means:
Post-hack trust rebuilding remains fragile. The DAXA warning—targeting a major CKB trading region—likely triggered precautionary selling among Korean investors. Cross-chain exploits often lead to prolonged reputational damage, as seen with Ronin and Wormhole.
What to look out for:
Exchange delisting risks if Nervos fails to address DAXA’s concerns conclusively.
2. Technical Pullback (Neutral Impact)
Overview:
CKB’s 24h decline aligns with a retest of the 200-day EMA ($0.0044794), a critical resistance-turned-support level. The RSI-14 (49.37) shows neutral momentum, while the MACD histogram (+0.000060949) hints at slowing bearish pressure.
What this means:
The drop could be a healthy correction after July’s 30% rally driven by Bitcoin L2 progress. Traders often take profits near Fibonacci retracement levels (e.g., 23.6% at $0.003528), which CKB approached this week.
What to look out for:
A sustained break below $0.00325 (November 10 low) may signal deeper retracement toward $0.00295.
3. Macro Sentiment Drag (Bearish Impact)
Overview:
The crypto Fear & Greed Index sits at 31 (Extreme Fear), with Bitcoin dominance rising to 59.16% as capital flees altcoins. CKB’s 24h volume fell 11.98% to $5.37M, reflecting thinning liquidity.
What this means:
In risk-off environments, low-cap alts like CKB (market cap: $157M) often underperform. Nervos’ niche focus on quantum resistance and BTC L2s lacks immediate catalysts to counter macro headwinds.
Conclusion
CKB’s dip stems from a trifecta of security jitters, technical profit-taking, and sector-wide risk aversion. While Nervos’ tech stack (quantum-resistant design, Bitcoin L2 integrations) offers long-term potential, short-term sentiment hinges on resolving regulatory concerns and stabilizing above $0.00325.
Key watch: Can Nervos publish a Force Bridge audit report by November 12 to reassure DAXA and investors?