Market Signal Briefing

RESEARCH TRIANGLE PARK, NC / ACCESS Newswire / November 14, 2025 / Cyberlux Corporation, a leading developer of innovative unmanned aircraft systems (UAS), military communications platforms, and mission-critical defense technologies, today announced its operational achievements and strategic advancements for the third quarter ended September 30, 2025. The quarter marked a consolidation period for the Company, highlighted by the post-contract deployment of its important completed U.S. Government contract, accelerated development across its NDAA-compliant UAS portfolio, a company-wide focus on manufacturing readiness, and the start of strategic partnerships that will elevate Cyberlux's technological edge and global competitiveness.

TOMI Environmental Solutions, Inc. (TOMZ) Q3 2025 Earnings Call November 14, 2025 4:30 PM EST

Company Participants

Halden Shane - Chairman & CEO
David Vanston - Chief Financial Officer
Elissa Shane - COO & Director

Conference Call Participants

John Nesbett - Institutional Marketing Services, Inc.
Sameer Joshi - H.C. Wainwright & Co, LLC, Research Division
John Nelson

Presentation

Operator

Good afternoon, and welcome to the TOMI Environmental Solutions, Inc. Third Quarter 2020 Financial Results Conference Call. [Operator Instructions]. Please note, this conference is being recorded.

I will now turn the conference over to your host, Mr. John Nesbett of IMS Investor Relations. Sir, the floor is yours.

John Nesbett
Institutional Marketing Services, Inc.

Good afternoon, and thank you for joining us today for the TOMI Environmental Solutions Investor Update Conference Call.

On today's call is TOMI's Chief Executive Officer and Chairman, Dr. Halden Shane; E. J. Shane, our Chief Operating Officer; and our Chief Financial Officer, David Vanston.

A telephone replay of today's call will be available through November 28, 2025, the details of which are included in the company's press release issued today. A webcast replay will also be available on TOMI's website at www.steramist.com.

Certain written and oral statements made by management of TOMI may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements should be evaluated in light of important risk factors that could cause our actual results to differ materially from our anticipated results.

The information provided in this conference call is based upon the facts and circumstances known at this time. Please refer to our filings with the SEC, including our 10-Q for the quarter ended September 30, 2025 for a discussion of these risk factors.

The company undertakes no obligation to update these forward-looking statements after the date

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Quantum Computing Inc. (QUBT) Q3 2025 Earnings Call November 14, 2025 4:30 PM EST

Company Participants

Yuping Huang - CEO, President, Chief Quantum Officer & Chairman
Christopher Roberts - CFO & General Counsel

Conference Call Participants

Rosalyn Christian
Maxwell Michaelis - Lake Street Capital Markets, LLC, Research Division
Troy Jensen - Cantor Fitzgerald & Co., Research Division
John McPeake - Rosenblatt Securities Inc., Research Division
Edward Woo - Ascendiant Capital Markets LLC, Research Division

Presentation

Operator

Ladies and gentlemen, greetings, and welcome to the Quantum Computing Inc. Third Quarter 2025 Shareholder Update Call. [Operator Instructions]

It is now my pleasure to introduce your host, Rosalyn Christian with IMS Investor Relations.

Rosalyn Christian

Thank you, and I want to welcome everyone to the Quantum Computing Inc. Third Quarter 2025 Shareholder Update Call.

Before we begin, I'd like to remind everyone that this conference call may contain forward-looking statements based on our current expectations and projections regarding future events and are subject to change based on various important factors. In light of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements, which speak only as of the date of this call. For more details on factors that could affect these expectations, please see our filings with the Securities and Exchange Commission.

On the call today, we have Dr. Yuping Huang, Interim CEO and Chairman; and Chris Roberts, CFO. The team will provide an update on the business, followed by a question-and-answer session.

With that, I would like to turn the call over to management. Please go ahead, Yuping.

Yuping Huang
CEO, President, Chief Quantum Officer & Chairman

Thank you, everyone, for joining us today to hear about QCi's progress in the third quarter of 2025. The past few months have been pivotal for our company. We ended the quarter with a strengthened

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VerifyMe, Inc. (VRME - Free Report) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to a loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +50.00%. A quarter ago, it was expected that this company would post a loss of $0.06 per share when it actually produced a loss of $0.02, delivering a surprise of +66.67%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

VerifyMe, which belongs to the Zacks Technology Services industry, posted revenues of $5.03 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.92%. This compares to year-ago revenues of $5.43 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

VerifyMe shares have lost about 41.5% since the beginning of the year versus the S&P 500's gain of 14.6%.

What's Next for VerifyMe?While VerifyMe has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for VerifyMe was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.02 on $7.47 million in revenues for the coming quarter and -$0.13 on $21.34 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the top 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Arbe Robotics Ltd. (ARBE - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2025. The results are expected to be released on November 17.

This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +46.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Arbe Robotics Ltd.'s revenues are expected to be $0.7 million, up 483.3% from the year-ago quarter.

, /PRNewswire/ -- 

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of DexCom, Inc. (NASDAQ: DXCM) between July 26, 2024 and September 17, 2025, both dates inclusive (the "Class Period") of the important December 29, 2025 lead plaintiff deadline.

So what: If you purchased DexCom securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the DexCom class action, go to https://rosenlegal.com/submit-form/?case_id=28133 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 29, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) DexCom had made material design changes to the G6 and G7 continuous glucose monitoring ("CGM") systems that were unauthorized by the U.S. Food and Drug Administration (the "FDA"); (2) the foregoing design changes rendered the G6 and G7 less reliable than their prior iterations, presenting a material health risk to users relying on those devices for accurate glucose readings; (3) accordingly, defendants' purported enhancements to the G7, as well as the device's reliability, accuracy, and functionality, were overstated; (4) Defendants downplayed the true scope and severity of the issues and health risks posed by adulterated G7 devices; (5) all the foregoing subjected DexCom to an increased risk of heightened regulatory scrutiny and enforcement action, as well as significant legal, reputational, and financial harm; and (6) as a result, defendants' public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the DexCom class action, go to https://rosenlegal.com/submit-form/?case_id=28133 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR 
FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Nov. 14, 2025 (GLOBE NEWSWIRE) -- Algernon Health Inc. (the “Company” or “Algernon”) (CSE: AGN) (FRANKFURT: AGW0) (OTCQB: AGNPF), a Canadian healthcare company, announces the closing of the first tranche (the “First Tranche”) of its non-brokered private placement (the “Offering”), previously announced on November 6, 2025. Gross proceeds from the First Tranche totaled CAD $177,000 from the sale of 2,528,752 units (the “Units”) at an issue price of CAD $0.07 per Unit.

Certain insiders of the Company participated in the First Tranche of the Offering in the amount of CAD $37,000. The participation by insiders in the First Tranche of the Offering constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (”MI 61-101”). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the Units purchased by insiders, nor the consideration for the Units paid by such insiders, exceeded 25% of the Company’s market capitalization. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the First Tranche of the Offering, which the Company deems reasonable in the circumstances as the details of the participation by insiders of the Company were not settled until shortly prior to closing the First Tranche of the Offering and the Company wished to complete the First Tranche of the Offering in an expeditious manner.

The Company did not pay any cash finder’s fees pertaining to the First Tranche of the Offering.

The Company will use the proceeds of the First Tranche of the Offering towards advancing its Alzheimer’s Disease (“AD”) program including the opening of its first U.S. AD clinic, general and administrative expenses and for working capital purposes.

The Company expects additional tranches of the Offering to close on or before December 1, 2025.

The securities issued and issuable, described in this and the previous news release on November 6, 2025, will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable Canadian securities legislation.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, “U.S. persons” (as such term is defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration.

For more information please contact:

About Algernon Health  

Algernon Health is a Canadian healthcare company focused on the provision of brain optimized PET scanning services through a planned network of new clinics in North America for the early-stage detection of Alzheimer’s Disease, as well as other forms of dementia, epilepsy, neuro-oncology, and movement disorders. Algernon is also the parent company of a recently created private subsidiary called Algernon USA LLC, that will oversee all U.S. neuroimaging operations.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY DISCLAIMER STATEMENT: No Securities Exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release contains forward-looking statements relating to planned brain-specific neuroimaging PET scanning clinic opening timelines, planned financings in the Company and its subsidiary and the closings of additional tranches thereof, product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

YouTube said on Friday it had struck a deal with Walt Disney Co to restore its networks, including ESPN and ABC, on Google's YouTube TV after an impasse left millions of subscribers without access to programs and major live sports events.

NEW YORK, Nov. 14, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds Baxter International, Inc. (“Baxter” or the “Company”) (NYSE:BAX) investors of the December 15, 2025 deadline to seek lead plaintiff appointment in the class action filed on behalf of investors who acquired Baxter securities between February 23, 2022 through July 30, 2025 (“the Class Period”).

Follow the link below for more information:

[CONTACT THE FIRM IF YOU SUFFERED A LOSS]

What Is The Lawsuit About?

The lawsuit alleges that, throughout the Class Period, Defendants misled investors by failing to disclose that: (i) the Novum LVP suffered systemic defects that caused widespread malfunctions, including underinfusion, overinfusion, and complete non-delivery of fluids, which exposed patients to risks of serious injury or death; (ii) Baxter was notified of multiple device malfunctions, injuries, and deaths from these defects; (iii) Baxter’s attempts to address these defects through customer alerts were inadequate remedial measures, when design flaws persisted and continued to cause serious harm to patients; and (iv) as a result, there was a heightened risk that customers would be instructed to take existing Novum LVPs out of service and that Baxter would completely pause all new sales of these pumps.

On April 7, 2025, safety concerns regarding Baxter’s Novum IQ Large Volume Pump (“Novum LVP”), a device used for the delivery of intravenous fluids that carry medications, blood products, and nutrients to patients, began to surface after a Missouri news outlet reported serious safety issues relating to inaccurate infusion with the Novum LVPs based on information from a whistleblower. Just weeks after the whistleblower report, on April 24, 2025, Baxter sent customers a warning letter about potential underinfusion risks associated with the Novum LVP, disclosing only one serious injury linked to this issue. Then, on July 14, 2025, Baxter issued a second warning letter reiterating the underinfusion risks and adding the risk of overinfusion with the Novum LVP. The letter also revealed that Baxter had received 79 reports of serious injury and two reports of patient deaths related to the Novum LVP. Finally, on July 31, 2025, the Company announced that it had decided to “voluntarily and temporarily pause shipments and planned installations of the Novum LVP” and that the Company was “unable to currently commit to an exact timing for resuming shipment and installation for Novum LVPs.” On this news, the price of Baxter shares declined by $6.29 per share, or approximately 22.4%, from $28.05 per share on July 30, 2025, to close at $21.76 on July 31, 2025.

[CLICK HERE TO LEARN MORE ABOUT THE CLASS ACTION]

What Should I Do?

If you purchased or otherwise acquired Baxter securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at [email protected], or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

[LEARN MORE ABOUT THE LEAD PLAINTIFF PROCESS]

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Kirby McInerney LLP        
Lauren Molinaro, Esq.
212-699-1171
https://www.kmllp.com
https://securitiesleadplaintiff.com/
[email protected]

NEW YORK, Nov. 14, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of American Depositary Shares (“ADS” or “ADSs”) of WPP plc (NYSE: WPP) between February 27, 2025 and July 8, 2025, both dates inclusive (the “Class Period”), of the important December 8, 2025 lead plaintiff deadline.

SO WHAT: If you purchased WPP ADSs during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the WPP class action, go to https://rosenlegal.com/submit-form/?case_id=46121 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 8, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of WPP’s media arm; notably, that it was not truly equipped to handle the ongoing macroeconomic challenges while competing effectively and had instead begun to lose significant market share to its competitors. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the WPP class action, go to https://rosenlegal.com/submit-form/?case_id=46121 call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

Global private equity firms Warburg Pincus and Permira are in talks to buy investment and accounting software maker Clearwater Analytics , a source familiar with the matter told Reuters on Friday.

ESPN, ABC and other Disney networks return to roughly ten million YouTube TV customers.

, /PRNewswire/ -- Robbins LLP informs stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Freeport-McMoran Inc. (NYSE: FCX) securities between February 15, 2022 and September 24, 2025. Freeport is a mining company.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Robbins LLP is Investigating Allegations that Freeport-McMoran Inc. (FXC) Misled Investors Regarding Safety at its Mines

According to the complaint, during the class period, defendants failed to disclose that: (1) Freeport did not adequately ensure safety at the Grasberg Block Cave mine in Indonesia; (2) the lack of proper safety precautions constituted a heightened risk that could foreseeably lead to the death of Freeport's workers; and (3) this constituted an undisclosed heightened risk of regulatory, litigation, and reputational risk.

Plaintiff alleges that on September 9, 2025, after reporting that seven workers were unable to safely evacuate the Grasberg Block Cave after an incident, the Freeport's stock declined. The stock declined further on September 24, 2025, after Freeport reported two of the workers were fatally injured and the impact the incident would have on mining operations. 

What Now: You may be eligible to participate in the class action against Freeport-McMoran Inc. Shareholders who wish to serve as lead plaintiff for the class must file their papers with the court by January 12, 2026. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses. 

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. 

To be notified if a class action against Freeport McMoran Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

SOURCE Robbins LLP

BTCS posted record Q3 revenue of $4.94 million, driven by Ethereum accumulation and DeFi operations.

CNBCs MacKenzie Sigalos joins 'Closing Bell Overtime' with the latest on crypto's downtrend.

2 hours ago

Solana ETFs recorded inflows for 13 consecutive days, but SOL price lost key technical support levels, sparking fears of a drop to $100.

692

Key takeaways:

The spot Solana ETFs have recorded inflows for 13 consecutive days.

SOL broke its multi-year uptrend, slipping below a key moving average.

Spot Solana (SOL) exchange-traded funds continued to attract investor interest, recording their thirteenth straight day of inflows, underscoring institutional demand for the network’s native asset.

According to data from SoSoValue, Solana ETFs added $1.49 million on Thursday, bringing cumulative inflows to $370 million and total assets to over $533 million. The Bitwise Solana ETF (BSOL) was the only one that recorded inflows on Thursday, marking the weakest since its launch on Oct. 28.

Solana ETFs inflows. Source: SoSoValueThe weakening SOL ETF inflows reflected the bearish sentiment across the market, with spot Bitcoin (BTC) ETFs recording $866 million in daily net outflows on the same day, the second-worst day since launch. 

Spot Ether (ETH) ETFs also posted $259.2 million in outflows, reducing their cumulative inflows to $13.3 billion. The funds shed $183.7 million on Thursday and $107.1 million on Wednesday.

The persistent demand for Solana ETFs has, however, failed to hold SOL above key levels, with the technical setup indicating a potential for a deeper correction.

SOL price breaks key support levels In line with the waning ETF inflows, SOL’s price action turned sharply bearish last week, falling over 34% over the last two weeks to $142 on Friday, its lowest level since June 23. The correction also broke a 100-week SMA and the multiyear uptrend that began in January 2023, with the $95 level serving as the yearly low.

Solana is currently testing a daily order block around $140, a level with limited support, according to data from Glassnode.

Glassnode's UTXO realized price distribution (URPD) — a metric that shows the average prices at which SOL holders bought their coins — reveals that there is little clustering of these buy levels below $140. This means there are a few holders who are defending the price there.

SOL: UTXO realized price distribution (URPD). Source: GlassnodeIf the price breaks below this level, it could drop toward the 200-week SMA at $100, which represents the last line of defense for SOL price.

Solana one-day chart: Source: Cointelegraph/TradingViewSolana’s downside is backed by weakness in the relative strength index, which has hit its lowest level since April 2025. 

As Cointelegraph reported, a break below $150 will see the SOL/USDT pair extend the decline to $126 and subsequently to the solid support at $100.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin continued its decline on Friday, slipping below $95,000 and ending the week with its steepest drop in eight months. The world’s largest cryptocurrency fell roughly 9% over the past five days, extending a bearish trend that has left investors uneasy. While U.S. stock indices managed modest gains, BTC underperformed once again, struggling to find support after hitting its lowest level since May.

Ethereum also faced significant selling pressure, falling more than 11% this week as it traded under the $3,200 mark. Solana’s SOL dropped 15% during the same period. XRP stood out as a relative outperformer, losing just 1%, potentially supported by the launch of its first U.S. spot ETF from Canary Capital.

Crypto equities delivered mixed results after Thursday’s sharp downturn. MicroStrategy fell an additional 4%, dipping below $200 for the first time since late 2024, while companies like Exchange Bullish, BitMine, CleanSpark, MARA Holdings, and Hive Digital registered declines between 4% and 7%. On the upside, Hut 8 surged 6% following positive earnings tied to its joint venture with the Trump family, and Robinhood and Riot Platforms each gained about 3%.

Analysts point to an “information vacuum” caused by the extended U.S. government shutdown as a core driver of the recent market weakness. With crucial inflation and employment data delayed for weeks, investor confidence has dwindled. Although the shutdown has ended, the temporary funding bill only keeps the government open until January 30, leaving continued uncertainty around fiscal policy and future Federal Reserve decisions.

Market experts, including Noelle Acheson, argue that Bitcoin’s pullback is a healthy correction following months of consolidation below $120,000. However, she highlights macro liquidity as the key catalyst for BTC’s next major move. Expectations for potential Fed balance sheet changes or liquidity injections could help revive bullish sentiment in the coming months.

From a technical standpoint, Ledn CIO John Glover warns that BTC may still have room to fall. A breakdown below the 23.6% Fibonacci retracement near $100,000 now exposes support around $84,000. Glover anticipates heightened volatility ahead, suggesting Bitcoin may briefly reclaim levels above $100,000 before any deeper retracement unfolds through summer 2026.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

VanEck's Head Of Crypto Research is unfazed by Ripple's success on Wall Street, soft-pedaling XRP's adoption.

Earlier on Friday, Bitcoin (BTC), the leading cryptocurrency in the market, retraced further toward the $94,500 mark, intensifying concerns about a potential bear market for the broader digital asset industry. 

In light of this, Bitwise CEO Hunter Horsley made some thought-provoking remarks about the current market conditions, suggesting that a bear market cycle has been playing out for the past six months.

New Bullish Phase Ahead For Bitcoin?
In a post shared on social media platform X (formerly Twitter), Horsley emphasized the shift in market dynamics, stating, “We talk about four-year cycles, but the reality is that model is based on a bygone era of crypto.” 

He pointed out that with the advent of Bitcoin exchange-traded funds (ETFs) and a new pro-crypto administration by President Trump, the landscape has evolved significantly. 

“We’ve entered a new market structure,” Bitwise’s CEO explained, highlighting the introduction of new players and the changing reasons behind buying and selling behaviors.

Horsley’s statement could be met with optimism for investors about the future direction of crypto prices, suggesting that the digital asset ecosystem may soon transition into a new bullish phase. 

“I think there’s a pretty good chance that we’ve been in a bear market for almost six months now and are almost through it,” he remarked, noting that the current market setup appears stronger than ever.

Animoca Brands Co-Founder Weighs In
Meanwhile, crypto-linked stocks also experienced declines on Friday. Notably, Strategy (previously MicroStrategy), which focuses on a Bitcoin treasury strategy, saw its shares drop by 6%. 

Other significant players, including Gemini (GEMI) Space Station and Bullish (BLSH), saw their stock prices decrease by 2%, while Coinbase’s (COIN) shares fell by 1%. Further, digital asset mining firm Bitmine Immersion Technologies traded 3% lower.

Adding to the discourse, Yat Siu, co-founder of the blockchain development firm Animoca Brands, shared insights with CNBC, stating that lack of liquidity in the market has led to investors divesting certain assets to address financial concerns. “There’s less money in the system,” Siu noted, attributing some sell-offs to those shortfalls.

Siu echoed Horsley’s perspective, suggesting that this current market cycle may differ from previous ones, particularly due to the influx of institutional investment in digital assets. He explained that institutional investors do not typically follow the longstanding belief system of major Bitcoin holders regarding the four-year price cycle. 

“People think Bitcoin is going to go down to $60,000 because of the four-year cycle and the token’s history of drops and corrections,” Siu explained. However, he believes that these institutions will view market downturns more as buying opportunities than signals for panic.

The daily chart shows BTC’s price trending downwards. Source: BTCUSDT on TradingView.com
As of this writing, BTC has recovered the $96,750 line but is still recording losses of 4% over the past 24 hours and seven days. 

Featured image from DALL-E, chart from TradingView.com 

XRP has been under heavy market pressure this week, sliding to around $2.30 and ranking among the biggest decliners of the day. However, a major development in institutional markets has renewed optimism around the digital asset's long-term potential.

Michael Saylor, executive chairman and co-founder of Strategy, the largest bitcoin treasury company, denied the rumors of a possible bitcoin sale. At CNBC's Squawk Box, Saylor stated that Strategy is still buying bitcoin, putting these reports to rest.

The U.S. national debt surpassed $38 trillion in early November, and denoting the stock in bitcoin reveals a larger move than the underlying BTC price since January 20.

According to the U.S. Treasury’s Debt to the Penny dataset, total public debt stood at $38.118 trillion as of November 6, up about $1.1 trillion since August 12 and above the late October breach of $38 trillion that drew new headlines.

The $37 trillion threshold first made news in mid-August, then the next trillion arrived within weeks as issuance continued.

Over the same period, spot BTC has generally traded within the $100,000 to $105,000 band this month, with a January 20 close of $102,082.

Therefore, the unit-of-account lens revealed a larger move in debt than in price at the start of the week. The inauguration day reference price is $102,082, placing today’s level within 10% of that mark.

Sani from TimechainIndex calculated that, at a working price of $103,500 per BTC, the current U.S. public debt equates to roughly 368.3 million BTC, calculated as $38.118 trillion divided by the BTC price.

On January 20th, when @realDonaldTrump took office, Bitcoin was priced at $103,500, the same price it is trading at today.

During that time, the U.S. National Debt rose by $1.9 trillion, reaching $38.126 trillion.

In Bitcoin terms, the debt grew by 18.566 million BTC, totaling… pic.twitter.com/du0NucMFa4

— Sani | TimechainIndex.com (@SaniExp) November 13, 2025

With the debt stock rising by approximately $1.9 trillion since January 20, valuing the change at $103,500 per BTC yields approximately 18.36 million BTC.

As Bitcoin has fallen over 6% since Sani posted his insight, this would work out to 19.8 million BTC at $96,000.

With post-halving issuance near 450 BTC per day, or about 164,250 BTC per year, that single ten-month increase maps to more than a century of new supply.

Flows into and out of U.S. spot bitcoin ETFs add an incremental pressure valve.

U.S. spot ETF flow tallies have been mixed through early November, which matters for the mechanical link between demand, price, and the “debt expressed in BTC” ratio.

On the fiscal side, Treasury is still raising net new cash at quarterly refundings. In November, the Treasury announced $125 billion of issuance to refund $98.2 billion coming due, raising $26.8 billion of new cash. According to the U.S. Department of the Treasury’s quarterly refunding statement and TBAC minutes, ongoing SOMA runoff and a heavy maturity schedule maintain a steady financing need.

The simple math highlights how a fixed-supply asset interacts with a rising liability. Even if BTC trades at $200,000, the debt stock would still equal about 191 million BTC using the current $38.118 trillion level.

That is an order of magnitude above today’s circulating supply of roughly 19 to 20 million coins. On-chain supply inches higher predictably, while the debt numerator can add hundreds of billions within weeks, depending on issuance and cash balances.

Sensitivity to BTC price is straightforward to frame, and the table below shows how the “debt in BTC” number compresses as price rises, holding the latest debt tally constant and rounding to one decimal place for readability.

BTCUSDU.S. Debt (in BTC)$80,000~476.5 million BTC$100,000~381.2 million BTC$103,500~368.3 million BTC$120,000~317.7 million BTC$150,000~254.1 million BTC$200,000~190.6 million BTCA practical rule of thumb near current levels is that each $10,000 move in BTC changes the “debt in BTC” figure by roughly 32 to 36 million BTC, a 9–10% shift that is nonlinear across the curve.

The framing is not a claim that the United States could or would repay obligations in bitcoin; rather, it is a unit-of-account lens that compares a fixed-issuance asset with a fiscal path driven by policy and macroeconomic conditions.

The lens is also sensitive to date alignment. Treasury’s daily debt data posts with a lag, so matching the same calendar day for the debt close and the BTCUSD close matters for precision. Different price sources will vary by 1–2%, so stating the source in each calculation helps keep the arithmetic auditable.

Forward, the path of the numerator and denominator will decide whether the chart bends lower. On the numerator, the Treasury’s term structure choices and net new cash needs will determine rollover intensity and the interest cost path into 2026.

According to the refunding statement, approximately 31% of marketable debt has been maturing within 12 months in recent quarters, with an average maturity of nearly six years. This mix keeps bill share and coupon sizing in focus if yields hold near current ranges.

On the denominator, ETF flow regimes can shift quickly, and sustained positive flows would support spot demand, which mechanically reduces the “debt in BTC” ratio. Week-to-week swings remain common as funds and advisers rebalance.

The macro overlay from budget projections leans toward larger interest costs in the baseline. The Congressional Budget Office 2025 to 2035 outlook shows net interest rising toward about 4% of GDP by 2035, with debt held by the public projected to reach around 156% of GDP by 2055 absent policy changes.

According to the Committee for a Responsible Federal Budget’s summary of the CBO baseline, near-term real growth under 2% and inflation drifting toward 2% leave the nominal GDP denominator without a strong boost, which reinforces the arithmetic of a steady or higher “debt in BTC” reading unless price lifts or deficits compress.

Replicating the math is straightforward. Pull the latest Total Public Debt Outstanding from the Treasury’s Debt to the Penny portal, pull a same-day BTCUSD close from a consistent index, then compute ‘Debt in BTC’ as DebtUSD divided by BTCUSD.

For issuance context, use 450 BTC per day post-halving. This method yields the 368.3 million BTC figure at a $103,500 price on a $38.118 trillion debt base, and the roughly 18.36 million BTC equivalent of the year-to-date increase when mapped at the same price.

What to watch over the next quarter is the mix at Treasury’s auctions, any change in net new cash targets, the evolution of ETF flows, and the subsequent CBO updates as FY26 tax debates resume.

A move in any of those inputs will show up in either the numerator or the denominator.

According to the Treasury’s November statement, the current refunding raised $26.8 billion in new cash while refunding $98.2 billion coming due.

Cash App has taken a significant step toward unifying banking, payments, crypto activity, and automation in a single ecosystem. With its largest product expansion to date, the platform is positioning itself as a comprehensive digital finance hub designed to increase speed, improve convenience, and enhance on-chain engagement for millions of users.

An analyst has pointed out how a sort of supply “air gap” exists for Solana below $144, with no major on-chain support levels until much lower.

Solana URPD Reveals Supply Chasm Below $144
In a new post on X, analyst Ali Martinez has talked about how Solana support is looking from an on-chain lens. In on-chain analysis, the potential of any price level to act as support or resistance lies in the amount of coins that investors last purchased at it.

The reasoning behind this is that holders look at their cost basis as a special level and are sensitive to retests of it. The more holders that have their cost basis at a particular level, the larger the reaction from a retest could theoretically be.

As for what the nature of this reaction is likely to be, it comes down to the direction of the retest, as well as the mood in the market. When the retest occurs from above, holders might decide to accumulate more, thinking that the decline is a temporary dip and they would return in profit again.

Retests of major supply levels from above can, for this reason, provide support to the cryptocurrency. Similarly, retests in the opposite direction may be met with resistance, as holders panic exit at their break-even level, fearing going underwater again.

To showcase how the supply cost basis distribution on the Solana network is like right now, Martinez has shared the data of the UTXO Realized Price Distribution (URPD) from Glassnode.

The amount of the SOL supply that was purchased at various levels visited by the asset in its history | Source: @ali_charts on X
As is visible in the above graph, the largest Solana supply zones on this indicator are all located above $144. Below this level, the cryptocurrency has relatively thin clusters. “There’s barely any meaningful demand until $24,” noted the analyst.

SOL has already started slipping under the last major support level of $144, so it only remains to be seen how the cryptocurrency will develop in the near future, considering the lack of any meaningful on-chain support cushions.

In a separate X post, Martinez has also shared the URPD data for Bitcoin. Unlike Solana, the number one cryptocurrency’s supply distribution is more even, meaning the asset has levels to rely on below the current range.

Where the major on-chain support levels are located for Bitcoin | Source: @ali_charts on X
In particular, $82,000 and $67,000 are two levels below $95,000 that hold the cost basis of a significant amount of supply, and thus, could potentially be support barriers on the way down.

SOL Price
Solana dropped to $135 during its latest plunge, but the coin has since recovered back to $141.

The trend in the price of the coin over the last five days | Source: SOLUSDT on TradingView
Featured image from Dall-E, Glassnode.com, chart from TradingView.com

By

PYMNTS
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November 14, 2025

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Bitcoin reportedly declined for a fourth day on Friday (Nov. 14), dropping as low as $94,491.22 early in the day. 

Week to date, the cryptocurrency was down nearly 9%, CNBC reported Friday.

The report attributed Bitcoin’s decline in part to investors selling cryptocurrency in response to a pullback in Big Tech stocks, noting that many of the investors in those stocks also invest in Bitcoin.

Tech stocks have been slipping this week amid concerns about companies’ spending on artificial intelligence (AI) initiatives, according to the report.

The price of Bitcoin hit a record $125,000 in October but, just days later, Bitcoin saw “the largest liquidation event in crypto history,” in the words of data tracker Coinglass. That downturn was prompted by a surprise tariff announcement by the White House.

Bitcoin continued to struggle to gain momentum in November. On Monday (Nov. 10), the price of Bitcoin briefly rose above $107,000 before sliding back below $105,000.

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Coindesk reported on the current decline Friday, saying that the price had dipped to its lowest level since May and that this week’s 9% drop marked the cryptocurrency’s worst performance in eight months.

Analysts attributed the downturn to the effects of the government shutdown that started Oct. 1 and ended Thursday (Nov. 13). They pointed to the government’s suspension of the release of inflation and jobs data, which led to a lack of clarity on the direction of monetary policy, according to the report.

The Wall Street Journal reported Friday that Bitcoin has fallen 25% since the peak it reached in October.

The WSJ report pointed to investors’ concerns over lowered expectations for an interest rate cut in December by the Federal Reserve, institutional and individual investors liquidating their positions, and early Bitcoin holders cashing out at the highest rate since January 2024.

Reuters reported Friday that not only Bitcoin but all risky assets have been pressured recently by diminishing expectations that the Fed will cut rates in December. Markets now price in a 40% chance of a rate cut at that time, down from about 90% earlier this month and about 60% earlier this week, the report said.

BitMine appointed Chi Tsang as its new CEO and added three independent board members.