Market Signal Briefing

TLDR

Table of Contents

TLDRAmerican Bitcoin Boosts Mining CapacityRevenue Diversification Beyond MiningAnalyst Outlook and Stock MovementGet 3 Free Stock Ebooks

Hut 8 increased its bitcoin holdings to 13,696 BTC worth $1.6 billion, up 50% from 9,106 BTC in Q3 2024
The company ranks 10th among public bitcoin holders and third among mining companies behind MARA and Riot
American Bitcoin merger doubled hashrate from 12.0 EH/s to 26.8 EH/s while generating $70 million in Q3 mining revenue
Clear Street raised price target from $33 to $60 citing 1.6GW development pipeline and computing infrastructure positioning
HUT stock dropped 9% to below $50 despite analyst upgrade

Hut 8 released third-quarter results Tuesday showing substantial growth in its bitcoin reserves. The company now holds 13,696 BTC valued at approximately $1.6 billion as of September 30.

Hut 8, $HUT, Q3-25. Results:

📊 EPS: $0.43 🟢
💰 Revenue: $83.5M 🟢
📈 Net Income: $50.6M
🔎 Strong growth driven by Bitcoin mining and compute infrastructure expansion. pic.twitter.com/GNab698Qk8

— EarningsTime (@Earnings_Time) November 4, 2025

This represents a 50% increase from Q3 2024 when holdings stood at 9,106 BTC. The growth places Hut 8 among the largest public bitcoin holders globally.

According to Bitcoin Treasuries data, Hut 8 now ranks 10th among publicly traded companies. The miner surpassed CleanSpark’s 13,011 BTC to claim the spot.

Hut 8 Corp. (HUT)
Among mining operations specifically, Hut 8 holds the third-largest bitcoin stockpile. Only MARA and Riot maintain larger reserves.

American Bitcoin Boosts Mining Capacity
The Trump family-backed American Bitcoin Corp contributed heavily to Q3 performance. The majority-owned subsidiary generated most of Hut 8’s $70 million in mining revenue.

American Bitcoin recently completed a stock-for-stock merger with Gryphon Digital Mining. The deal brought the subsidiary to Nasdaq and expanded Hut 8’s operations.

The merger added 14.8 exahash-per-second to total mining power. Hut 8’s hashrate more than doubled from 12.0 EH/s to 26.8 EH/s.

Higher hashrate translates to greater mining efficiency and more bitcoin rewards. The increased capacity positions Hut 8 competitively in the mining sector.

Revenue Diversification Beyond Mining
Hut 8 continues expanding into complementary business lines. Power generation and managed services brought in $8.4 million during Q3.

Colocation services added another $5.1 million to quarterly revenue. GPU-as-a-Service and cloud computing operations also contributed to overall performance.

The company secured new financing tools during the quarter. A $1 billion at-the-market equity program replaced a previous arrangement.

Hut 8 also established a $200 million revolver with Two Prime. These moves provide capital flexibility for future growth initiatives.

CEO Asher Genoot highlighted the company’s financial strength in a statement. He referenced the balance sheet supporting operations across power, infrastructure, and computing segments.

Analyst Outlook and Stock Movement
Clear Street increased its HUT price target to $60 from $33. The firm maintained a Buy rating on shares.

The analyst expects contract signings and execution through 2026. Clear Street values Hut 8’s 1.6GW pipeline under development.

The updated target reflects Hut 8’s American Bitcoin stake and development projects. Clear Street views the company as an emerging high performance computing infrastructure platform.

HUT stock fell more than 9% Tuesday to below $50. The decline made it the fifth-worst performer among tracked crypto equities.

Rival miners Canaan, Greenidge, and Argo posted larger losses. Solana treasury firm Sol Strategies also dropped double digits.

TLDR:

Bitcoin trades at $101,623 with $84B in 24-hour volume, showing strong engagement despite a recent 9% weekly dip.
CryptoQuant’s Mignolet says market patterns shifted after ETF approvals, moving focus from ratios to real volumes.
Bitcoin’s short-term trend has turned bearish, but traders continue to defend the $100K support zone.
Market activity remains elevated, suggesting investor confidence in Bitcoin’s long-term strength despite current declines.

Bitcoin’s market rhythm looks different, but the energy behind it hasn’t faded. Even with prices slipping, trading volumes and engagement tell another story. Analysts say investor appetite for Bitcoin remains high, despite short-term bearish structure. 

The introduction of Bitcoin ETFs changed how traders track momentum, shifting focus away from old ratio models. Still, market watchers agree, interest in Bitcoin is far from cooling.

Market Pattern Shifts After Bitcoin ETF Launch
According to CryptoQuant analyst Mignolet, the approval of Bitcoin ETFs brought a new dynamic to how traders interpret market strength. 

Before ETFs, many relied on ratio-based data to gauge sentiment. That changed once spot ETF activity surged, shifting focus to direct volume flows.

Mignolet noted that if one looks only at ratio metrics, it might appear the market isn’t overheated. However, the data tells a different story. High transaction volume and steady network activity suggest investors have stayed active, even during price pullbacks.

This shift in focus highlights how institutional involvement has altered Bitcoin’s trading structure. Market sentiment now leans more on direct participation through regulated channels rather than speculative leverage. 

Mignolet’s observations reflect how the ETF era has matured the market’s internal mechanics without dulling retail enthusiasm.

Despite the cooling price action, traders have shown no retreat in engagement levels. The pattern may have changed, but interest in BTC remains deeply rooted among both retail and professional participants.

Bitcoin Price Hangs Near $100K as Traders Watch Key Levels
At press time, Bitcoin trades at $101,623, according to CoinGecko data. 

BTC price on CoinGecko
The price dropped 2.24% over the last 24 hours and 9.33% in the past week. Trading volumes remain high at over $84 billion in 24 hours, signaling strong market participation even through volatility.

Analyst Daan Crypto Trades said Bitcoin has entered a short-term bearish market structure after forming several lower highs and lower lows. He pointed out that the asset now sits between $107K resistance and $98K support, hovering near the psychologically important $100K area.

Bulls are expected to defend this level aggressively. Failure to reclaim higher ground could leave Bitcoin vulnerable to further downside pressure. Still, traders remain watchful, with some eyeing ETF inflows and institutional movement as key indicators of potential recovery.

$BTC So where do we stand after all this?

Bitcoin is currently stuck between its previous key level of $107K and the June $98K low. Right at the big $100K area.

The market has now made a few lower highs and lower lows and has fully moved into a bearish market structure on the… pic.twitter.com/7B8lby9EnK

— Daan Crypto Trades (@DaanCrypto) November 5, 2025

For now, the price action reflects a tug-of-war between cautious optimism and technical weakness. Despite the dip, liquidity and trading activity show Bitcoin remains at the center of investor attention.

TLDR

Table of Contents

TLDRDeep Losses on Solana InvestmentTrading Below Book ValueBroader Industry ChallengesGet 3 Free Stock Ebooks

Forward Industries approved $1 billion share repurchase program Monday
Company owns 6.82 million SOL tokens worth $1.2 billion at current prices
Stock crashed 73.6% from $39.60 peak to $10.44 current price
Unrealized losses on Solana holdings reach approximately $382 million
Market cap of $900 million now trades below net asset value

Forward Industries has greenlit a $1 billion share buyback program as its bet on Solana continues to sour. The company made the announcement Monday.

According to Defillama, Solana DAT firm Forward Industries, Inc. (Nasdaq: FORD) holds 6.82 million SOL purchased at an average price of $232. The position is now worth $1.2 billion, reflecting a 24.13% unrealized loss totaling $382 million. The company's stock has fallen 73.6%…

— Wu Blockchain (@WuBlockchain) November 5, 2025

The repurchase authorization lets Forward buy back shares through open market purchases, block trades, or private negotiations. There’s no expiration date on the program.

FORD stock dropped nearly 20% on Tuesday as crypto-linked equities sold off across the board. The decline adds to an already brutal stretch for shareholders.

Forward Industries, Inc. (FORD)
Shares have plummeted from a high of $39.60 to just $10.44. That’s a 73.6% collapse from peak prices.

Forward is the largest corporate holder of Solana with more than 6.8 million SOL tokens. The position is currently valued at roughly $1.2 billion based on today’s prices.

But the investment has turned into a money pit. The company paid an average of $232 per token for its Solana holdings.

Deep Losses on Solana Investment
With SOL trading below that purchase price, Forward is staring at unrealized losses of about $382 million. That represents a 24.13% decline from cost basis.

The company said the buyback gives it flexibility to purchase shares when they trade below intrinsic value. Forward plans to keep building its Solana treasury while repurchasing stock.

The firm recently fired up a validator node on the Solana network. This expands its blockchain involvement beyond passive token ownership.

Trading Below Book Value
Forward’s market capitalization has shrunk to approximately $900 million. That creates an odd situation where the company trades for less than its crypto holdings alone.

The market-to-net-asset-value ratio has fallen under 1. Investors are essentially saying the entire business is worth less than just the Solana tokens on the balance sheet.

This pricing suggests serious doubts about the crypto treasury business model. The market isn’t giving Forward credit for anything beyond its token holdings.

Broader Industry Challenges
Forward isn’t the only crypto treasury company feeling pain. Several firms pivoted to this strategy during the bull run hoping to juice their stock prices.

The playbook hasn’t worked out. Standard Chartered analysts recently flagged that crypto treasury companies face a valuation squeeze.

Enterprise values keep falling relative to underlying crypto holdings. This compression creates the below-book-value trading seen with Forward.

Breed, a venture capital firm, warned in June that most Bitcoin treasury companies face a potential death spiral. The warning came as net asset values collapsed across the sector.

The pressure hits both Bitcoin-focused and altcoin treasury strategies. Forward’s Solana approach shows the model struggles regardless of which cryptocurrency a company chooses.

Forward Industries holds $1.2 billion in Solana tokens purchased at an average price of $232 each while current prices leave the company nursing $382 million in paper losses.

Story HighlightsThe live price of the 0X token is  $ 0.18677815.ZRX could hit $3.1353 by 2030 as 0x protocol gains traction in the DeFi space, with growing adoption of Ethereum-based assets.0x is an open-source protocol that promotes the peer-to-peer exchange of Ethereum-based assets. It offers secure and audited smart contracts. Further, it comprises freely composable Defi blocks and builds a protocol that needs liquidity and exchange for functions.

ZRX, the native token powering the 0x protocol, has seen a surge in attention after a string of recent developments. Originally built on Ethereum, 0x enables decentralized exchanges, wallets, and DeFi tools to tap into open-source liquidity.

0x Protocol Price TodayCryptocurrency0x ProtocolTokenZRXPrice$0.1868 4.55% Market Cap$ 158,461,937.9624h Volume$ 52,475,279.6363Circulating Supply848,396,562.8973Total Supply1,000,000,000.00All-Time High$ 2.5314 on 09 January 2018All-Time Low$ 0.1040 on 16 August 20170x Price ChartTechnical Analysis0x (ZRX) is trading at $0.1836, hovering slightly below its 20-day SMA at $0.1859. Technicals indicate:

Key Support: $0.1724 (lower Bollinger Band), recent lows near $0.1821Resistance: $0.1859 (20-day SMA), $0.1995 (upper Bollinger Band)Indicators: RSI at 47.57 reflects a neutral to mild bearish tone, as the token trades near the midpoint of its recent range and shows low volatility.ZRX Short-Term Price Prediction0x (ZRX) Price Prediction For 20250x has expanded support to Solana and Monad, enhancing cross-chain liquidity aggregation. Just weeks earlier, 0x integrated with Coin98 Wallet, exposing ZRX to 1.2 million monthly active users. With more integrations expected in DeFi, gaming, and wallets, 0x is quietly positioning itself as a key liquidity layer in Web3.

The price of ZRX might hit a maximum of $0.4129 by the end of 2025. Conversely, if the market witnesses a crash resulting from a possible financial crisis or regulatory clampdowns. The price of the altcoin might tumble to $0.1376. That said, a balance in buying and selling pressures will land the price at $0.2753. 

YearPotential LowAverage PricePotential High2025$0.1376$0.2753$0.41290x (ZRX) Mid-Term Price PredictionYearPotential LowAverage PricePotential High2026$0.2064$0.4129$0.61932027$0.3097$0.6193$0.92900x Price Prediction for 2026In 2026, ZRX could trade between $0.2064 and $0.6193, with an average of $0.4136. Stronger market sentiment and higher trading volumes may help the token push toward the upper range.

ZRX Price Forecast 2027ZRX price may climb further in 2027, ranging from $0.3097 to $0.9290. An average of $0.6204 would reflect continued ecosystem development and broader DeFi integration for the token.

ZRX Long-Term Price PredictionYearPotential LowAverage PricePotential High2028$0.4645$0.9290$1.39352029$0.6967$1.3935$2.09022030$1.0451$2.0902$3.13530x Price Prediction 2028By 2028, the ZRX price could hover around $0.9307 on average, with potential lows and highs between $0.4645 and $1.3935. Sustained DeFi growth and token utility could fuel this trajectory.

ZRX Price Projection 2029In 2029, ZRX might see prices from $0.6967 up to $2.0903, averaging around $1.3960. Expansion of cross-chain liquidity and governance upgrades may drive long-term interest.

ZRX Price Prediction for 20300x price could hit an average near $2.0940 by 2030, trading between $1.0451 and $3.1354. Widespread adoption of decentralized trading and maturing crypto markets may support these gains.

CoinPedia’s 0x Price Prediction0x is anticipated to accumulate as it is built on the Ethereum network. And its price might consistently increase if the value of Ethereum escalates. As per Coinpedia’s formulated ZRX price prediction. It might gain more investors as it facilitates developers to build their platform. By the end of 2025, ZRX is expected to reach as high as $0.4129.  

YearPotential LowAverage PricePotential High2025$0.1376$0.2753$0.4129Market AnalysisFirm Name2025Gov. Capital$2.200Wallet  Investor$0.0545Digital Coin Price$0.66FAQsCan ZRX be halved?

No ZRX cannot be halved or mined.

Is ZRX a profitable investment?

Yes, ZRX might be a profitable investment if you are planning to invest for the long term.

Is ZRX an ERC-20 token?

Yes, ZRX is an ERC-20 token built on the Ethereum blockchain.

Which is the consensus mechanism used by 0x?

0x uses the Proof-of-Stake consensus mechanism.

How to buy ZRX?

ZRX can be traded across popular exchanges like Binance, Coinbase Pro, Bithumb, VCC Exchange, and many more.

Disclaimer and Risk WarningThe price predictions in this article are based on the author's personal analysis and opinions. CoinPedia does not endorse or guarantee these views. Investors should conduct independent research before making any financial decisions.

Bitcoin is holding around the $101.7K level. BTC's trading volume has jumped by over 54%.

TLDR

Table of Contents

TLDRPrice Action Tells Different StoryCryptocurrency Volatility Creates HeadwindsGet 3 Free Stock Ebooks

Marathon Digital Holdings posted Q3 2025 revenues of $252.4 million, up from $131.6 million in Q3 2024.
The company swung to a $123.1 million profit from a $124.8 million loss year-over-year.
MARA stock dropped 5.98% despite strong earnings as Bitcoin prices declined.
Strategic wind farm acquisition in Texas helped reduce energy costs for mining operations.
Regulatory uncertainty and increased competition are weighing on investor sentiment.

Marathon Digital Holdings delivered impressive third-quarter earnings that showed real profitability. Yet the stock sold off hard anyway.

The Bitcoin mining company reported Q3 revenues of $252.4 million. That number nearly doubled the $131.6 million from the same quarter last year.

Net income was even more impressive. Marathon earned $123.1 million in the quarter.

MARA Holdings, Inc. (MARA)
Just one year ago, the company lost $124.8 million. The turnaround happened fast.

Management credits strategic moves for the improved results. The company acquired a wind farm in Texas to secure cheaper electricity.

Energy costs make or break Bitcoin mining operations. Lower power bills translate directly to higher profits.

Marathon also built up its digital asset holdings. The balance sheet strengthened with more Bitcoin reserves and receivables.

Full-year revenues reached $656 million. The company’s gross margin came in at 66.5%.

Price Action Tells Different Story
MARA stock fell 5.98% on November 4, 2025. Investors ignored the strong earnings report.

Bitcoin prices have been sliding. Mining companies live and die by Bitcoin’s value.

When the cryptocurrency drops, mining revenue falls immediately. Every Bitcoin mined is worth less.

Regulatory fears are spreading through the crypto sector. Investors worry about potential new rules that could hurt mining operations.

The uncertainty is enough to trigger selling. Analysts have started cutting their earnings forecasts for Marathon.

They point to rising competition and higher operating costs. More miners entering the market means smaller rewards for everyone.

Marathon carries long-term debt of $2.25 billion. The debt-to-equity ratio sits at 0.55, which remains manageable.

The company raised $219.2 million through stock sales. But cash reserves dropped $86.74 million during the quarter.

Cryptocurrency Volatility Creates Headwinds
Rising interest rates are pushing investors toward safer assets. Speculative plays like Bitcoin mining stocks are getting hit.

The competitive landscape keeps getting tougher. New miners bring more efficient equipment to the market.

Marathon must keep investing in technology upgrades. That means continued capital spending ahead.

The company’s EBIT margin of 157.6% proves profitability is possible at scale. Maintaining those margins gets harder when Bitcoin weakens.

Management plans to expand beyond pure mining. The focus includes data centers and energy management solutions.

The company wants to leverage its energy expertise for other high-intensity computing tasks. New revenue streams could diversify the business.

Marathon reported $808 million in net income from continuing operations. Operating expenses and market conditions are cutting into those gains.

The price-to-earnings ratio of 12.43 suggests the stock might be cheap. But selling pressure continues as crypto markets remain weak.

Broader cryptocurrency market conditions are pressuring all mining stocks. Bitcoin’s price direction will determine Marathon’s near-term stock performance.

TL;DR

Spot Bitcoin ETFs recorded their largest daily withdrawal since October, with $566 million.
In contrast, Solana (SOL)-linked investment funds completed six consecutive days of net inflows.
Bitcoin (BTC) is showing signs of stabilization above $102,000 after bouncing off the key support level of $100,353.

The cryptocurrency exchange-traded fund (ETF) market shows a clear divergence. Products linked to Bitcoin (BTC) and Ether (ETH) registered their fifth consecutive day of significant capital withdrawals on Tuesday. This trend underscores cautious sentiment among investors toward the two main digital assets, just as the market attempts to stabilize after sharp drops early in the week.

According to market data, spot Bitcoin ETFs experienced net withdrawals of $566 million on Tuesday. This figure represents the largest single-day capital outflow since mid-October. Ether ETFs followed a similar trajectory, posting net outflows of $219 million. Fidelity’s FETH and BlackRock’s ETHA products were the main drivers of these redemptions.

This five-day negative streak has drained nearly $1 billion from Ether-linked ETFs since late October, highlighting weak investor confidence in the asset amidst volatility.

Solana Defies the Bearish Trend
In stark contrast to the outflows from Bitcoin and Ether ETFs, Solana (SOL) funds continued to attract capital. Spot Solana ETFs saw $14.83 million in net inflows on Tuesday, marking their sixth consecutive day of positive movement. Bitwise’s BSOL and Grayscale’s GSOL funds notably contributed to this increase.

These steady inflows suggest that institutional traders may be rotating funds into Solana-based products, which have gained traction as yield-bearing alternatives within the digital asset market.

Despite the pessimism in the ETF market, the prices of major cryptocurrencies are showing signs of stabilization. Bitcoin (BTC) is holding slightly above $102,000 this Wednesday, following an 8.18% drop earlier in the week that tested the 50% retracement level at $100,353.

Ethereum (ETH) also bounced after falling 15.73% and testing support at $3,171. Although the correction has dampened momentum, stabilizing prices and selective inflows into Solana suggest that investor sentiment remains cautiously constructive in certain segments.

Bitcoin ETFs recorded $577.74M in outflows on Nov 4, led by Fidelity, Grayscale, and ArkB as prices fell over 5%.

Senator Cynthia Lummis has called Bitcoin the “only real solution” to help address the U.S. national debt. She says Bitcoin is not just another asset but a key tool that could strengthen the country’s finances over time. 

According to Lummis, Bitcoin’s limited supply and potential for long-term growth make it similar to how gold reserves once supported national finances. She praised President Donald Trump and his administration for supporting the plan and expressed confidence that the reserve would eventually be implemented.

Government Exploring a Bitcoin ReserveInitially, some policymakers suggested revaluing U.S. gold holdings to buy Bitcoin. But Lummis now says the Treasury and White House are exploring other options. This means Bitcoin could become part of the national reserve without using gold.

Treasury Secretary Scott Bessent and White House officials are reviewing how a Bitcoin reserve could work, signaling that the government is taking the plan seriously.

No New Taxes: Reserve Will Use Seized BitcoinA key question was how the U.S. would fund the reserve. Lummis clarified that no new taxpayer money would be spent. Instead, the reserve would use Bitcoin the government already owns from criminal case seizures. After a recent forfeiture, the U.S. now holds roughly 130,000 BTC, valued at over $34 billion, making it one of the largest government Bitcoin holdings in the world. The Treasury also said more Bitcoin could be added later using “budget-neutral” methods, without extra spending.

Bitcoin Reserve Gains MomentumInterest in Bitcoin in government circles is growing. Earlier this year, President Trump signed an executive order to create a reserve framework. Analysts, including Galaxy Digital’s Alex Thorn, expect the reserve structure to be finalized before the end of 2025.

Supporters say a Bitcoin reserve would protect the U.S. from inflation, diversify national assets, and strengthen the country’s financial future. Critics, however, want more clarity on security, transparency, and management of the reserve.

Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQsHow would a Bitcoin reserve help reduce the U.S. national debt?

A Bitcoin reserve could boost national assets, hedge against inflation, and diversify reserves without increasing taxes or spending.

Will taxpayers fund the proposed U.S. Bitcoin reserve?

No. The reserve would use Bitcoin seized in criminal cases, meaning no new taxes or federal spending would be required.

When could the U.S. Bitcoin reserve become official?

Analysts expect the reserve framework to be finalized before the end of 2025, following President Trump’s executive order.

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XRP trades near $2.23 after a 15% weekly drop. Analysts watch $1.94 support, ETF filings, and whale moves for signs of market direction.

Ripple’s native token XRP is under pressure as market uncertainty continues. The asset is trading near $2.23, with a daily volume of around $8.8 billion.

Over the past 24 hours, XRP has slipped almost 2%, adding to a 15% loss over the past week. Analysts are now watching several technical levels for signs of stability or further movement.

EGRAG CRYPTO Highlights $1.94 as a Key Level
Analyst EGRAG CRYPTO says XRP remains in a key accumulation zone, as long as the price stays above $1.94. In a recent post, they wrote,

“We’re sitting in one of the most powerful accumulation zones you’ll ever see. Miss this range, and you’ll regret not loading up when fear was at its peak.”

They also noted irregular pricing across top exchanges like Binance, Coinbase, and Poloniex, calling it “data distortion.” To address this, they now use an average of multiple exchange prices, referred to as the “Crypto Data Set.” For longer-term tracking, they’ve set $1.40 as a base level.

Chart Targets Range From $10 to $50
EGRAG laid out several price levels that could come into play if XRP rebounds. In the short term, they pointed to a move toward $10, based on the current range pattern. They suggested the formation isn’t a textbook wedge or rectangle, but still shows a measured target near that zone.

Source: EGRAG CRYPTO/X
The outlook also includes a potential rise to the $14–$25 range if a larger wave pattern plays out. The most extended target is $50, referencing a historic wick on Gemini. Challenging the view that only lower wicks need to be revisited, they said,

“If the market loves symmetry, both wicks can balance in time.”

In addition, analyst ChartNerd reported that XRP recently touched its ascending support line, which has been in place since 2024. The price is now hovering near $2.21. The structure is part of a rising channel, and previous touches at support have led to recoveries toward the upper range, near $6–$7.

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The pattern remains valid for now. A break below support could suggest a shift in trend, but as long as XRP holds the lower boundary, the broader setup continues to track upward.

Short-Term Sentiment and Market Activity
Trader CRYPTOWZRD shared that XRP closed with a slightly bearish candle, while the XRP/BTC pair printed a dragonfly doji. “XRP will follow Bitcoin’s sentiment tomorrow,” they said, focusing on lower timeframes for possible trade setups.

Wallets holding between 100 million and 1 billion XRP have recently trimmed their balances, as CryptoPotato reported. This activity was also seen ahead of previous declines and may be adding to current market pressure.

Meanwhile, interest in a spot XRP ETF is growing. Franklin Templeton, Bitwise, and Canary Capital have all filed updated S-1 forms with the SEC in recent days. These filings suggest that ETF launches could begin as early as mid-November.

Separately, Ripple also confirmed it has acquired Palisade, a crypto custody firm. The move follows its earlier acquisition of Hidden Road and a collaboration with GTreasury, as Ripple expands its reach in financial infrastructure services.

Tags:

Your day-ahead look for Nov. 5, 2025 Nov 5, 2025, 12:15 p.m.

(Midjourney/Modified by CoinDesk)

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By Francisco Rodrigues (All times ET unless indicated otherwise)

Bitcoin BTC$102,019.12 briefly slipped below $100,000 for the first time since June as a wave of liquidations and shifting macro expectations triggered a broad crypto sell-off.

STORY CONTINUES BELOW

The leading cryptocurrency is now down more than 20% from the all-time high above $126,000 it set in early October. The broader crypto market, as measured via the CoinDesk 20 (CD20) index, fell 2.6% in the last 24 hours and more than 27% in the past 30 days.

The sell-off intensified in the past 24 hours with more than $1.7 billion in crypto positions liquidated, according to CoinGlass. Long traders bore the brunt of the losses.

"Since the ~$19B liquidations on 10/10, markets have been cascading lower,” Jasper De Maere, an over-the-counter trader at Wintermute, told CoinDesk. “The current weakness reflects a mix of ongoing digestion of 10/10, slightly more hawkish Fed tone, and a broader risk-off across assets, with the Nasdaq, crypto’s closest proxy, down ~2% on valuation concerns.”

The drawdown is seeing bitcoin now fight to defend a key level, its 50-week simple moving average, which has historically supported its long-term price recoveries. That level is just under $103,000.

“The sell-off is a reminder that liquidity remains thin, especially in long-tail alts, which is why we’re seeing outsized negative price action, further propelled by a marketwide flight to safety,” De Maere said.

Meanwhile, Tuesday's $128 million hack on Balancer raised fresh concerns about security in the decentralized finance ecosystem, further chilling sentiment.

As it stands, sentiment has taken a hit with the Crypto Fear and Greed Index now sitting on “fear.” Near-term catalysts are limited according to De Maere, although the U.S. government reopening and supportive crypto legislation could support prices.

Stay alert!

What to WatchFor a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

CryptoNov. 5, 11:30 a.m.: Jupiter (JUP) hosts an AMA on X Spaces focused on its prediction market DeFi product.MacroNov. 5, 8 a.m.: S&P Global Brazil Oct. Services PMI (Prev. 46.3).Nov. 5, 8:15 a.m.: U.S. Oct. ADP Employment Change Est. 25K.Nov. 5, 9:30 a.m.: S&P Global Canada Oct. Services PMI (Prev. 46.3).Nov. 5, 9:45 a.m.: S&P Global U.S. Oct. (final) Services PMI Est. 55.2.Nov. 5, 10 a.m.: U.S. ISM Oct. Services PMI Est. 50.8.Nov. 5, 4:30 p.m.: Brazil central bank interest-rate decision. Est. 15%.Earnings (Estimates based on FactSet data)Nov. 5: Robinhood Markets (HOOD), post-market, $0.54Token EventsFor a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

Governance votes & callsDecentraland DAO is voting on a $10,000 proposal to fund an independent audit of Regenesis Labs by community member "Maryana," following concerns over fund usage. Voting ends Nov. 5.CoW DAO is voting to authorize its Foundation to sell the DAO's 50% stake in MEV Blocker, allowing the core team to focus on core products and directing all sale proceeds to the treasury. Voting ends Nov. 5.Ssv.network DAO is voting to sell SSV for USDC at a lower price tier ($11-$20) to build reserves. Voting ends Nov. 5.UnlocksNo major unlocks.Token LaunchesNov. 5: Linea Exponent schedule to begin.ConferencesFor a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

Nov. 5: ​Global Digital Assets, ScienceTech & Web3 Forum (London)Nov. 5: Assets on Blockchain Conference (New York)Day 3 of 5: Hong Kong FinTech WeekDay 2 of 2: Ripple’s Swell 2025 (New York)Day 2 of 2: Chainlink’s SmartCon (New York)Day 2 of 3: Schwab IMPACT 2025 (Denver, Colorado)Day 1 of 2: Blockchain Futurist Conference (Miami)Token TalkBy Oliver Knight

The altcoin market remains in oversold territory following Tuesday's grueling sell-off that saw several tokens fall to their lowest in months.The average crypto relative strength index (RSI) is at 38/100, with tokens including OKB, SKY and FLR printing figures as low as 23/100. This suggests that while the overall crypto market is leaning bearish, a short-term relief rally may be on the cards.Any suggestion of a bounce would be invalidated if bitcoin BTC$102,019.12 and ether ETH$3,337.93 break below their respective levels of support at $99,000 and $3,100.If further downside in BTC and ETH was to occur, altcoins would fare worse due to a lack of liquidity and skewed levels of leverage. This means altcoin orderbooks simply do not have sufficient buy orders to absorb sell pressure and subsequent liquidations, resulting in dramatic spikes to the downside.Traders will be wondering whether the recent "altcoin season" is officially over with the majority of tokens, with the exception of privacy coins, eroding their rallies from July and August.The privacy coin narrative remains a key driver in the current market, while DCR and ZEC cooled off on Wednesday, XMR rose 7% and the entire sector remains significantly higher over the past month.Derivatives PositioningThe BTC futures market reflects rising caution. Open interest (OI) has declined to $25.3 billion from $26 billion last week, suggesting traders are reducing leverage. Seen against the higher BTC price year-over-year, the drop indicates that the relative amount of leverage in the market has not kept pace with asset appreciation. The three-month annualized basis is suppressed at 3%-4%, signaling that the basis trade is currently unappealing. Funding rates are mixed but low across major venues (4%-9% annualized), reinforcing a lack of strong trend commitment and overall market caution from the futures side.The bitcoin options market is displaying mixed but volatile signals. Implied volatility (IV) is high across all expiries, pointing to elevated near-term movement expectations. Structurally, the IV term structure shows near-term backwardation (downward slope) before resuming a long-term contango (upward slope). Despite this volatility, the recent trading bias has flipped back to bullish, with the 24-hour put-call volume leaning 58%-42% in favor of calls, indicating active upside preference.The recent price drop was heavily influenced by leveraged unwinds, with $1.7 billion in liquidations over the past 24 hours split 76%-24% in favor of long positions. ETH led the notional losses with $572 million liquidated. Crucially, the average long liquidation volume over the past two days of $1 billion is significantly higher than the seven-day average of $620 million, confirming the amplified impact of forced selling on current price action. Looking ahead, a bounce may face immediate resistance, with a key price level at $102,500 having $124 million in potential liquidations.Market MovementsBTC is up 1.79% from 4 p.m. ET Wednesday at $102,069.70 (24hrs: -2.41%)ETH is up 3.03% at $3,310.76 (24hrs: -6.74%)CoinDesk 20 is up 3.01% at 3,209.70 (24hrs: -3.56%)Ether CESR Composite Staking Rate is up 8 bps at 3.01%BTC funding rate is at 0.0036% (3.8905% annualized) on BinanceDXY is unchanged at 100.21Gold futures are up 0.44% at $3,977.80Silver futures are up 0.44% at $47.50Nikkei 225 closed down 2.5% at 50,212.27Hang Seng closed unchanged at 25,935.41FTSE is unchanged at 9,707.29Euro Stoxx 50 is down 0.64% at 5,624.23DJIA closed on Tuesday down 0.53% at 47,085.24S&P 500 closed down 1.17% at 6,771.55Nasdaq Composite closed down 2.04% at 23,348.64S&P/TSX Composite closed down 1.64% at 29,777.82S&P 40 Latin America closed down 1.15% at 2,985.42U.S. 10-Year Treasury rate is down 1 bps at 4.081%E-mini S&P 500 futures are down 0.25% at 6,784.50E-mini Nasdaq-100 futures are down 0.41% at 25,470.50E-mini Dow Jones Industrial Average Index are unchanged at 47,214.00Bitcoin StatsBTC Dominance: 60.66% (-0.19%)Ether to bitcoin ratio: 0.03248 (0.25%)Hashrate (seven-day moving average): 1,091 EH/sHashprice (spot): $41.43Total Fees: 3.95 BTC / $408,873CME Futures Open Interest: 135,465 BTCBTC priced in gold: 24.1 ozBTC vs gold market cap: 6.80%Technical AnalysisThe bitcoin weekly price chart is currently trading below the key support level near $107,000. A confirmed weekly candle close beneath this mark would be a significant bearish signal, turning the core support into formidable overhead resistance and signaling a breakdown of the prevailing bullish trend. It is crucial to monitor whether BTC can reclaim and close above $107,000 by the end of the week to prevent a structural trend reversal.Crypto EquitiesCoinbase Global (COIN): closed on Tuesday at $307.32 (-6.99%), +1.71% at $312.56 in pre-marketCircle Internet (CRCL): closed at $111.25 (-5.61%), +1.84% at $113.30Galaxy Digital (GLXY): closed at $31.17 (-10.64%), +0.74% at $31.40Bullish (BLSH): closed at $45.75 (-8.97%), +2.86% at $47.06MARA Holdings (MARA): closed at $16.62 (-6.68%), +1.87% at $16.93Riot Platforms (RIOT): closed at $19.27 (-6.97%), +0.49% at $19.37Core Scientific (CORZ): closed at $21.74 (-5.07%), +0.78% at $21.91CleanSpark (CLSK): closed at $16.22 (-6.89%), +0.62% at $16.32CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $58.44 (-4.91%)Exodus Movement (EXOD): closed at $23.13 (-8.18%)Crypto Treasury Companies

Strategy (MSTR): closed at $246.99 (-6.68%), +1.63% at $251.01Semler Scientific (SMLR): closed at $23.95 (-5.75%), +1.04% at $24.20SharpLink Gaming (SBET): closed at $11.68 (-10.77%), +1.88% at $11.90Upexi (UPXI): closed at $3.5 (-8.85%), +2.86% at $3.60Lite Strategy (LITS): closed at $1.76 (-8.33%)ETF FlowsSpot BTC ETFs

Daily net flows: -$566.4 millionCumulative net flows: $60.4 billionTotal BTC holdings ~1.34 millionSpot ETH ETFs

Daily net flows: -$219.4 millionCumulative net flows: $14.03 billionTotal ETH holdings ~6.67 millionSource: Farside Investors

While You Were SleepingBitcoin at Make or Break Level as China Suspends 24% Tariff on U.S. Goods (CoinDesk): The continued easing of trade tensions could eliminate a significant source of uncertainty for the global economy, supporting increased risk-taking, including in financial markets.Crypto Hit by Bitcoin Whales Dumping $45 Billion in Bets (Bloomberg): 10x Research’s Markus Thielen said longtime holders sold about 400,000 coins in a month, accounts with 100 to 1,000 coins have stopped buying and the unwind could persist into spring.Japan’s Crypto Players Jostle for Market Share on Regulatory Easing Hopes (Reuters): The jump points to growing risk appetite in Japan, with consumer price inflation outrunning salaries and the sting of the 2014 and 2018 crypto exchange breaches wearing off.Adam Back and Switzerland’s FUTURE Secure 28M Swiss Francs to Build Bitcoin Treasury (CoinDesk): The firm, under leadership of prominent figures, such as Richard Byworth, Sebastien Hess and Adam Back, raised 28 million Swiss francs ($35 million) to expand its balance-sheet-driven bitcoin treasury model.More For You

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Your day-ahead look for Nov. 4, 2025

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Bitcoin traded 20% below its all-time high of $126,000 as key onchain and technical indicators suggest that BTC has entered a new bear market.

Key moving averages remain crucial support levels as long-term investors trim holdings, adding pressure to the ongoing bull market. Nov 5, 2025, 10:33 a.m.

Bitcoin BTC$101,521.21 briefly fell below $100,000 for the first time since June on Tuesday, reaching lows of around $98,951. The drop took the largest cryptocurrency below two key support levels needed to sustain the current bull market, fueling concerns the decline may gather steam.

The two levels, the 365-day simple moving average (SMA) and the 365-day exponential moving average (EMA), are currently $102,055 and $99,924, respectively. Both have already been tested during this bull cycle.

STORY CONTINUES BELOW

In August 2024, bitcoin used the 365-day SMA, the average closing price over that period giving equal weight to each, as a key support level around $48,963, while briefly dipping below the EMA price, which gives more weight to recent readings. Then, during April's “tariff tantrum,” bitcoin dropped as low as $76,500, breaking below both moving averages before reclaiming them shortly after.

BTC 365 - MA (Glassnode)

Where is the selling pressure coming from?The selling pressure continues to come from long-term holders, defined as investors who have held their bitcoin for at least 155 days. The supply held by this cohort is now about 14.4 million BTC, down from more than 14.7 million BTC at the peak in July.

This marks the third notable wave of selling by this group since late 2023. Each time has added downward pressure that leads to price consolidation or even corrections — drops of 10% or more — after a period of rallying prices. The previous instance occurred during the November 2024 rally following President Trump’s election victory.

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Funding round backed by Fulgur Ventures, Nakamoto, and TOBAM positions FUTURE as an institutional bridge between Bitcoin and global capital.

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FUTURE (Future Holdings AG) raised $35 million (28 million Swiss francs) to expand its balance-sheet-driven bitcoin treasury model under leadership of Richard Byworth, Sebastien Hess and Adam Back.The firm’s strategy spans BTC treasury operations, analytics, secure infrastructure, and advisory, with plans to host the Future Bitcoin Forum 2026 in Switzerland.Read full story

With over four years of experience in covering and tracking the financial markets, Sneha Agrawal is a dedicated Crypto Journalist and Editor with passion for researching and writing the crypto pieces. She is currently leading the Block of Fame, here at CoinGape. She likes to keep track of political, legal and financial happenings all around the world - without which she deems her day incomplete. Apart from her Journalistic endeavours, she is a solo traveler, museum goer, and a keen reader of books.

Key NotesWilly Woo said that unless Bitcoin fails to rally strongly during the 2028 bull market, Strategy doesn’t face any major liquidation risk.Bitcoin analyst The Bitcoin Therapist said that it would take an “extremely sustained bear market” for Strategy to be forced into liquidation.MSTR shares fell 7% to $246, with analyst Ali Martinez warning that the stock price could decline further to $100.
With MSTR stock on a continuous decline, experts have raised doubts over the company’s ability to repay its debt. Some reports suggest that Michael Saylor’s Strategy (MSTR) could sell its BTC

BTC
$101 350

24h volatility:
2.4%

Market cap:
$2.02 T

Vol. 24h:
$113.13 B

to cover the debt during the next crypto market downturn. However, market expert Willy Woo believes that such a scenario won’t arise. 

Strategy Is Insulated from Liquidation, Says Willy Woo
According to analyst Willy Woo, Strategy faces approximately $1.01 billion in debt maturing on Sept. 15, 2027. To avoid selling its Bitcoin holdings for repayment, MSTR stock must trade above $183.19. This level roughly corresponds with a Bitcoin price of around $91,502, assuming a multiple net asset value (mNAV) of 1.

MSTR liquidation in the next bear market? I doubt it,

Here's their debt, the date the debt is due and the price MSTR stock needs to exceed to prevent partial liquidation of their BTC treasury to pay the debt. Equivalent BTC price assumes mNAV 1.0 pic.twitter.com/AzVgecI7i2

— Willy Woo (@woonomic) November 4, 2025

Woo said that while a liquidation is unlikely in the next bear market, it could occur if Bitcoin fails to deliver a strong rally during the expected 2028 bull cycle. “Ironically, there’s a chance of a partial liquidation if BTC doesn’t climb in value fast enough in an assumed 2028 bull market,” Willy Woo said.

Bitcoin analyst The Bitcoin Therapist also shared a similar view. He stated that Bitcoin would need to “perform horribly” in the next market downturn for Strategy to be forced into selling its Bitcoin holdings.

He added that it would take “one hell of a sustained bear market” for any liquidation to occur. Currently, Michael Saylor’s Strategy holds about 641,205 BTC, valued at roughly $64 billion, following its latest purchase earlier this week.

In the latest development, Strategy announced a proposed initial public offering of 3.5 million shares of its 10.00% Series A Perpetual Stream Preferred Stock. STRE shares carry a face value of €100 each and offer cumulative dividends at an annual rate of 10%.

MSTR Stock Price Crash 7%
Amid all the developments, MSTR stock price has corrected another 7% on Nov. 4, ending the trading at $246 levels. Despite strong Q3 results, with MSTR eyeing an entry to the S&P 500, the bulls have so far failed to lead a sustained upside. 

Strategy $MSTR continues to mirror its previous fractal. If it plays out, a move to $100 is next. pic.twitter.com/iDjEEL72jN

— Ali (@ali_charts) November 4, 2025

Crypto analyst Ali Martinez noted that MSTR stock continues to mirror its previous price fractal. According to him, if the pattern holds, the next potential move could see the stock drop to around $100. 

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

Bhushan Akolkar on X

The technical picture of XRP is sharpening into a classic bearish setup, a warning sign that traders closely following technical analysis are monitoring.

"Early investors selling does not mark the end of an asset's journey; it just represents a new phase," Matt Hougan said.

Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The crypto markets arrive at midweek under extreme tension. The macro driver is no longer regulation or rates but capital exhaustion. Institutional buyers have slowed, and spot ETF flows now show five consecutive red sessions. Bitcoin has dipped below the "Black Friday" price point, briefly losing the psychological $100,000 zone.

TL;DRBitcoin and Ethereum ETFs lose $797 million in a day after five straight outflow sessions.Bitwise CIO Matt Hougan calls for $125,000-$150,000 BTC before year's end.3% XRP ETF from Amplify officially listed on DTCC under ticker XRPM.Institutional demand cooling sparks warnings from Charles Edwards.$150,000 for Bitcoin in 2025? Bitwise says yesWith everyone panicking on social media about a new "crypto winter," Bitwise CIO Matt Hougan gave a totally different message, saying that retail investors are "in maximum despair mode," selling into every dip and leaving the market entirely.

According to Bitwise's internal flow data, this is exactly how the final capitulation before trend reversals typically looks. Forced liquidations and profit exits are the name of the game in retail, but institutional desks are holding their own. Hougan pointed out that major advisory firms, funds and ETF desks are still buying into Bitcoin instead of selling.

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He mentioned that money keeps flowing into IBIT, FBTC and GBTC, even during market corrections. Meanwhile, the Solana Spot ETF (BSOL) raised over $400 million in its first week, even though there has been a general move away from risk — a sign that capital rotation is happening, not capital flight.

Bitwise thinks the worst of the selling is about to end. Hougan reaffirmed two target ranges:

Realistic: $125,000-$130,000 BTC before the end of the year.Optimistic (Saylor-level): $150,000 BTC if institutional confidence stabilizes before December.For him, it all looks like a repeat of 2020's consolidation before the breakout, when sentiment collapsed right before the next leg higher.

Unique 3% XRP ETF achieves key DTCC listingThe Amplify XRP 3% Monthly Option Income ETF (XRPM) has officially been listed on the DTCC. For those who are unfamiliar with it, registration is the final step before trading begins. Without it, brokers and market makers cannot process fund transactions. 

Listing under the XRPM ticker confirms that the ETF is cleared for integration into brokerage systems. This is expected to trigger the first XRP-based income-generating product on U.S. markets.

The ETF is designed to deliver a yield of about 3% per month through covered call strategies on XRP positions. Its structure mimics that of popular equity income ETFs, bringing a passive-income instrument to digital assets like XRP for the first time.

According to the preliminary prospectus, the new XRP fund will trade on Cboe BZX and redeem shares only in institutional "creation units."

If everything goes according to plan, XRP will become one of the few assets, alongside Bitcoin and Ethereum, with both direct and derivative ETF infrastructure in the U.S. pipeline.

Bitcoin and Ethereum lose $800 million in one dayThe ETF data for Nov. 4, 2025, is pure pain.

Spot Bitcoin ETFs: $577.7 million in net outflows.Spot Ethereum ETFs: - $219.3 million in net outflows.That is a combined $797 million withdrawn in 24 hours — the largest synchronized red print since mid-September.

Over the last five trading sessions, both BTC and ETH funds have seen consecutive net withdrawals, cutting Bitcoin’s cumulative net inflows down to $60.42 billion and Ethereum’s to $14.01 billion. The previous week had already shown stress, with BTC down $798.95 million and ETH barely positive.

Source: SoSoValueMarket reaction has been immediate. Bitcoin traded below $100,000 overnight before recovering to $101,800 by Wednesday morning. Ethereum held around $2,900, down from recent $3,200 tests.

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Analyst Charles Edwards from Capriole Investments summarized the concern in his newest thread, highlighting that for the first time in seven months, net institutional buying has fallen below the daily mined supply — a sign of distribution overpowering accumulation. His warning: "When institutions stop buying, run."

The pattern at SoSoValue data backs this up. Bitcoin’s weekly net inflow fell $764.25 million, while Ethereum lost $355.13 million, marking the most severe combined decline in Q4.

Evening outlookFor now, the crypto market looks fragile, but the next few sessions may decide whether this correction matures into a full reversal or deepens into a real crypto winter.

Bitcoin (BTC): Bulls must defend the $100,000 point to prevent cascade selling into $93,000. Holding that range could set up a rebound to $112,000, where major resistance now sits.Ethereum (ETH): Pressure builds under $3,300. If it holds, a short-term recovery to $3,700 is still in play. But failure there shifts focus to the $2,500 support and a colder Q4 outlook.XRP: Trades in a fragile consolidation near $2.2, but support above $2 keeps ETF-driven optimism alive. A close over $2.50 would confirm trend revival, while a drop under $1.90 would cancel it.
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Japan’s Metaplanet is set to re-start its Bitcoin treasury purchases after more than a month of hiatus. This follows an announcement that the firm had put up its portfolio as collateral to secure $100 million in funding.

MetaPlanet Secures $100M In New Funding
In the latest update, MetaPlanet announced plans to resume Bitcoin treasury expansion after securing a fresh $100 million loan against its crypto holdings. The company confirmed on October 31 that it had taken up the loan. This move is a significant return to its digital asset accumulation strategy following a one-month pause.

The money will be invested in buying more Bitcoin, income-generating projects, and share buybacks. The firm explained that the loan amount constitutes only 3% of its total reserves in Bitcoin. This would allow for a collateral buffer during price drawdowns.

Currently, MetaPlanet owns 30,823 BTC, worth $3.33 billion, the fourth-largest Bitcoin Treasury in the world. The company also shared that all borrowing will be kept within safe collateral margins so as not to slow down long-term stability.

A portion of the new capital will be used to fund MetaPlanet’s income business, which consists of creating and selling cash-collateralized coin options; the firm says this model has provided consistent revenue while still keeping exposure.

Besides this, the management of MetaPlanet showed interest in re-buying company shares on the basis of market conditions. Such a move comes in correspondence with an equity acquisition cap of 75 billion yen set at the end of October.

The recent borrowing falls within MetaPlanet’s credit facility worth $500 million announced on October 28. The company confirmed that the loan is open-ended and can be repaid at any time.

Bitcoin Treasury to Resume After One-Month Pause
This is the first purchase by the Japanese company in more than a month. MetaPlanet last bought on October 1, adding 5,268 BTC for $116,870 apiece. Its year-to-date performance now reflects a stellar 497% return on Bitcoin investments.

Building on its treasure chest, MetaPlanet concluded an international share offering that was more than twice as large as originally planned to raise $1.4 billion. This expanded capital base has allowed it to pursue its long-term goal of acquiring 210,000 BTC by 2027.

In other news, US-based Hyperscale Data Inc announced that its Bitcoin treasury has surged to $73.5 million. The company’s Bitcoin reserve is at 61% of its market capitalization. Strategy also made their regular purchase of Bitcoin on Monday. They added 360 BTC worth around $45.6 million.

Estonian investor Rain Lohmus, an early Ethereum backer, lost access to 250,000 ETH now worth nearly $1 billion.

After dropping under its 365-day moving average price, Bitcoin faces uncertainty as analysts weigh whether it signals a looming bear market or a brief pullback.

The number of Bitcoin millionaires has risen sharply in the year since Donald Trump was confirmed as the winner of the U.S. presidential election on November 5, 2024. 

New on-chain data reviewed by Finbold Research indicates that the count of Bitcoin (BTC) wallet addresses holding at least $1 million in BTC increased by approximately 44,783 over the 12-month period, marking a rise of around 33.8%. On average, this equates to roughly 3,700 new millionaire-tier Bitcoin addresses being added each month.

As of November 5, 2025, there are now 156,705 wallet addresses holding between $1 million and $9.99 million worth of BTC, compared to 120,851 recorded a year earlier. Additionally, the number of addresses holding $10 million or more in Bitcoin increased from 11,697 to 20,626 over the same period. Combined, this places the total number of millionaire-level Bitcoin addresses at roughly 177,331.

How the Bitcoin rich list unfolded
The rise in millionaire-tier BTC addresses on the Bitcoin rich list unfolded over a full year of appreciation followed by volatility. On November 5, 2024, the day of the U.S. election, Bitcoin traded near $69,000. From that starting point, the price advanced in stages over the next eleven months, supported by renewed institutional interest, improving risk appetite, and growing expectations of a friendlier policy environment. That steady climb culminated in a new all-time high above $126,000 in October 2025.

After the October peak, momentum cooled. Bitcoin cycled through several corrections and, within the last 24 hours, briefly slipped below $100,000 for the first time in months. The latest downdraft extends weakness that began in mid-October and has kept price action choppy into early November.

This market backdrop coincided with a shift in U.S. political tone toward digital assets. During the campaign and after returning to office, President Trump signaled an intent to position the United States as a leader in Bitcoin and crypto innovation, with public messaging around clearer rules and support for domestic mining. 

While detailed frameworks are still being shaped, the more constructive stance appears to have influenced sentiment among institutional and high-net-worth participants. The continued expansion of millionaire-tier BTC wallets during both the advance and the subsequent pullbacks points to ongoing accumulation with a long-term horizon.

BTC growth post-election
Bitcoin’s growth one year post-election highlights how investor positioning and wealth concentration within the network continue to evolve in response to political signals, macroeconomic forces, and long-term expectations for digital assets.

With the next phase of regulatory clarity and institutional participation still forming, the distribution of Bitcoin wealth will remain a closely watched indicator of market confidence heading into 2026.

Finally, for clarity, a single person can control more than one Bitcoin address. Thus, the millionaire address count does not equal the exact number of unique investors, but the trend remains a meaningful indicator of where larger holdings are concentrated.

The total crypto market cap dumped by $400 billion in two days before today's minor recovery.

Bitcoin’s nosedive culminated yesterday with a massive price plunge to just under $99,000, which became its lowest level in almost five months.

Many altcoins followed suit, including ETH, which turned negative for the year. Now, though, a few of them have posted impressive increases, led by ASTER and HYPE.

BTC Bounces Above $100K
It was just a week ago when the primary cryptocurrency challenged the $116,000 resistance. After a couple of unsuccessful attempts, the asset was pushed south and tumbled below $107,000 after the US Fed cut the interest rates.

It recovered some ground by the weekend and stood between $110,000 and $111,000. Then came Monday, and all hell broke loose. BTC dumped to $104,000 and, after a minor bounce later that day, initiated another substantial leg down on Tuesday. The most impactful decline took place yesterday evening when bitcoin slumped below $100,000 and bottomed at just under $99,000.

This marked its lowest price point since mid-June, prompting analysts to speculate that the bear market has begun. The bulls finally intervened at this point and helped BTC rebound slightly to just over $101,000 as of press time.

Nevertheless, its market cap has suffered badly and is down to $2.020 trillion on CG. Its dominance over the alts, though, has increased further to 58.6%.

BTCUSD. Source: TradingView
HYPE, ASTER on the Rebound
The altcoins were battered yesterday as well, including their leader. ETH plunged from $3,900 on Sunday to under $3,200 on Tuesday evening, thus erasing all gains charted in 2025. On a daily scale, ETH has neared $3,300, but it’s still the worst-performing larger-cap alt.

XRP, BNB, SOL, DOGE, ADA, LINK, BCH, and XLM are also in the red, while HYPE, ASTER, and BGB have charted 6-7% gains overnight.

The cumulative market cap of all crypto assets dumped by more than $400 billion from top to bottom in just two days before it rebounded to $3.450 trillion as of press time.

Cryptocurrency Market Overview Daily. Source: QuantifyCrypto

XRP is on an overall downward path this week, which culminated in the early hours on Wednesday, November 5, when the price crashed towards $2.

The cryptocurrency had been showing signs of weakness from a technical perspective since the end of October, with a descending pattern characterized by lower highs and lower lows.

Analysts such as Ali Martinez noted on November 5 the bearish momentum when the token slipped beneath key mid-range resistance around $2.60, predicting that selling pressure could send the price toward $2.

$2! ✔️ https://t.co/j8xAKWrY9f

— Ali (@ali_charts) November 5, 2025

While the asset has managed to recover somewhat, trading at $2.23 at press time, the price is still down over 15.5% on the weekly chart, and a lot of risk still lingers as another break below $2 could open the door to a deeper slide toward roughly $1.90.

What’s more, when the price crashed, XRP’s market cap also sank to just south of $127 billion, down by as much as $25 billion from Monday’s highs of approximately $152 billion. 

XRP price and market cap. Source: CoinMarketCap
Why is the XRP price down?
The broader market shake-out has also weighed heavily on XRP. Indeed, the overall crypto market cap sits at $3.38 trillion at publication time, down from $3.56 trillion recorded a day earlier, as per CoinMarketCap. Moreover, nearly $836 billion in crypto liquidations in 24 hours has intensified pressure across the altcoin space.

Speculation around new XRP ETFs is also affecting investor sentiment. Namely, Franklin Templeton and Bitwise have submitted new filings with mid-November approval windows, and while the developments suggest institutional interest, traders appear to be cashing out.

As already mentioned, momentum indicators have turned bearish. XRP slipped under the 38.2% Fibonacci level at $2.47 and lost the 200-day exponential moving average (EMA) at $2.60.  

At the same time, the moving average convergence divergence (MACD) histogram has gone negative, reinforcing the bearish rotation. Likewise, the short-term relative strength index (RSI) at 24.84 implies the market is deep in “oversold” waters.

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Barratt Redrow PLC (LSE:BTRW) shares responded slightly positively as the housebuilder reported a solid start to its new financial year.

Private reservation rates held steady at 0.57 per site per week despite economic uncertainty ahead of the Budget later this month.

Total completions rose 7.9% to 3,665 homes, and full-year volume guidance of 17,200–17,800 units was maintained.

So far, £80 million of the intended £100 million cost synergies from the integration of Redrow have been made.

"Our FY26 performance remains dependent on normal seasonal trading patterns for the remainder of the financial year and the impact of the upcoming Budget on demand," the company said in the statement ahead of its annual shareholder meeting. 

Broker Stifel said the statement showed a "resilience [that] is encouraging given the general caution in the economy ahead of a difficult Budget",

It sees the shares as undervalued at 0.8x book value. "The shares are trading at levels normally seen in recessions, not seen since 2012, when its return on equity was 4% (v 7% now).

"Short-term catalysts are not obvious, but consumers’ balance sheets continue to build and mortgage rates fall, bringing a turning point for the housing market nearer, in our view."