Market Signal Briefing

Zcash price could be on the verge of a major crash after confirming a highly bearish pattern, just days after surging nearly 850% from its October low.

Summary

Zcash price has dropped 30% since hitting a 7-year high at $734.96 over the weekend.
Zcash futures open interest has dropped 28% in the past 24 hours.
Its price action has confirmed a bearish double-top pattern on the 4-hour chart.

According to data from crypto.news, Zcash (ZEC) price rallied over 850% from $76 recorded on Oct. 1 to $734.96 on Nov. 8, its highest level in the past 7 years. The privacy coin has since dropped by 30% and was trading at $512 at press time.

The Zcash price surge over the past couple of months was driven by multiple catalysts, including rising investor demand for privacy-focused cryptocurrencies amid growing surveillance concerns and mounting regulatory pressure on transparent blockchains like Bitcoin. Peers like Monero (XMR), Railgun (RAIL), and Dash (DASH) had also benefited from this demand and were up 24%, 31% and 49% respectively.

Its recent gains have also been supported by strengthening fundamentals within the Zcash network. Data from the Zcash dashboard show that 30% of the total ZEC supply, or around 4.83 million tokens, is now stored in shielded pools, nearly a 60% increase over the past month. These shielded pools rely on zk-SNARK cryptography to enable fully private transactions.

However, at press time, market sentiment surrounding Zcash appears to be tilting bearish, as observed by a notable drop in futures activity. Data from CoinGlass show that the open interest on ZEC futures has dipped 28% in the past 24 hours, hovering around $846 million at press time. Falling open interest points to traders closing out positions and can indicate a lack of conviction in ZEC’s current price trend.

Additional data show that the long-to-short ratio has dropped below 1, indicating a growing number of traders seem to be now betting on a price drop ahead rather than gains. This could stir up more bearish sentiment within the Zcash community and put additional pressure on the token’s price over the coming days.

Zcash price analysis
On the 4-hour chart, Zcash price has confirmed a breakdown from a double top pattern, which tends to hint at an upcoming drop in technical analysis.

The neckline of the pattern lies at $503.42, while the two tops are at $749 and $683, respectively.

ZEC price has confirmed a double top pattern on the 4-hour chart — Nov. 11 | Source: crypto.news
Momentum indicators are also flashing bearish signs, supporting the case for further downside. The MACD lines have pointed downwards with a widening gap as bears take greater hold over the market. Meanwhile, the RSI is also moving lower and still has room to fall before reaching oversold territory.

As such, Zcash price could drop toward the $400 psychological support level, which also aligns with the 50% Fibonacci retracement level on the chart.

A decisive breach below this could fuel a drop towards $256.41, a target derived by subtracting the height of the double top pattern from the price market by the neckline of the pattern. At press time, this level lies roughly 50% below the current price.

On the flip side, a rebound back above the $600 psychological resistance area would invalidate the bearish setup and would mean a potential recovery.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

XRP Bull Flag Breakout Could Ignite Rally Toward $3According to market analyst Solberg Invest, XRP may be on the verge of a major bullish move, with technical indicators aligning for a potential rally. 

In a recent market update, the analyst highlighted the formation of a bull flag pattern accompanied by a bullish divergence, two classic signals that often precede significant upward price momentum in cryptocurrency markets.

A bull flag signals a continuation pattern, forming after a strong rally and a brief consolidation within parallel trendlines. This pause allows traders to accumulate positions as momentum resets. 

When paired with a bullish divergence, where price dips but momentum indicators like RSI rise, it often indicates fading selling pressure and a potential upward reversal.

“We have a bull flag + a bullish divergence. A breakout here should result in a rally to at least $3–$3.1,” Solberg Invest noted, suggesting that XRP could soon revisit levels not seen since its 2021 highs if buyers manage to push the price above resistance.

Source: Solberg InvestA breakout above the flag’s upper boundary could spark renewed buying, driving XRP toward the $3–$3.10 zone, up from the current $2.46. Solberg Invest highlights this as a key upside, fueled by growing optimism around regulatory clarity and rising institutional interest.

U.S. Senate Presents Digital Commodities Regulation Bill Granting CFTC Oversight of Crypto AssetsIn a landmark move for the digital asset industry, the U.S. Senate has released a draft of the Digital Commodities Regulation Bill, signaling a major step toward comprehensive crypto regulation. 

As highlighted by renowned market analyst Xaif Crypto, the proposed legislation marks a pivotal moment in the U.S. government’s efforts to bring clarity and structure to the rapidly evolving cryptocurrency space.

The bill would give the CFTC primary authority to regulate digital commodities like Bitcoin, Ethereum, and XRP, clarifying the long-standing CFTC vs. SEC jurisdictional debate. This aims to reduce regulatory uncertainty, boost investor confidence, and foster innovation in the crypto space.

What does this mean? Well, the proposed framework empowers the CFTC to set clear rules for digital asset platforms, custodians, and intermediaries, requiring registration, robust compliance, and consumer protections on par with traditional finance. 

These measures aim to boost investor confidence, curb fraud, and attract greater institutional participation in crypto.

Xaif Crypto highlighted that this bill could pave the way for mainstream crypto adoption by delivering long-awaited legal clarity. If enacted, it would establish the CFTC as the primary regulator for most crypto trading, potentially transforming the regulatory landscape to favor innovation and growth.

Therefore, the unveiling of the Digital Commodities Regulation Bill represents one of the most significant advancements in U.S. crypto policy to date.

By granting clearer oversight authority and establishing regulatory certainty, the proposal could pave the way for a more transparent, secure, and globally competitive digital asset market—one where innovation thrives under well-defined rules.

Interestingly, just days before, Senate Committee Chair John Boozman confirmed the CLARITY Act would face a committee vote ahead of Thanksgiving.

ConclusionXRP sits at a crucial technical juncture. A bull flag and bullish divergence suggest a breakout could drive it toward $3–$3.10, offering significant upside for retail and institutional traders. With key resistance levels in focus, XRP could lead the next crypto market rally, making it a must-watch asset in the coming weeks.

On the other hand, The Digital Commodities Regulation Bill could reshape the U.S. crypto landscape. By giving the CFTC clear authority over major digital assets like Bitcoin, Ethereum, and XRP, it aims to reduce regulatory uncertainty, protect investors, and drive innovation. 

If enacted, the U.S. could emerge as a global leader in crypto regulation, creating a secure, transparent market that fuels both institutional adoption and mainstream participation, turning ambiguity into a foundation for sustainable growth.

CleanSpark is raising $1.15 billion through a convertible note offering to expand its Bitcoin mining and AI infrastructure operations.

The Shutdown Ends, but the Market Stays CautiousAfter 41 days of political gridlock, the United States government is finally reopening. While many hoped this would ignite risk-on sentiment, the crypto market’s reaction has been muted. Bitcoin still trades near $105,000, Ethereum around $3,500, and most altcoins remain in red territory.

This paradox—positive macro news but a bearish market—has investors wondering: what’s really going on?

Why the Government Was Closed – and Why It MattersGovernment shutdowns occur when Congress fails to pass a budget or continuing resolution to fund operations. This time, disagreements over spending priorities and new trade-related tariffs pushed negotiations beyond their deadlines.

The result was a 41-day closure, longer than the record 35-day shutdown of 2018-2019. During shutdowns, agencies halt services, economic data releases are delayed, and investor sentiment weakens due to uncertainty.

Historically, markets rebound once operations resume—but only if liquidity conditions support it. That’s not the case this time.

What Comes Next: Key Economic Shifts to Watch1. Rate Cuts Likely in DecemberMarkets expect a rate cut by December, which could mark the first monetary easing in years. Rate cuts reduce borrowing costs and typically support risk assets—but they also signal slowing growth, explaining the mixed reactions across markets.

2. Quantitative Tightening Ends on December 1Ending QT means the Federal Reserve will stop shrinking its balance sheet. This reduces pressure on liquidity and might stabilize markets heading into Q1 2026. However, traders want confirmation before turning fully bullish.

3. Quantitative Easing (QE) May Return in Early 2026A new round of QE—the Fed buying assets to inject liquidity—would be a strong bullish trigger for Bitcoin and equities alike. But since that’s still far off, markets are adopting a “wait-and-see” approach.

4. Crypto Market Structure Bill Draft ReleasedA crypto market structure bill is in progress, aiming to clarify how digital assets are classified and traded. This could bring long-term regulatory clarity—positive for institutions—but immediate price effects remain limited.

5. Over 150 Altcoin ETF Filings Await ApprovalETF optimism continues as more issuers file for crypto-based funds. Yet, until approvals happen, this remains speculative momentum rather than actionable liquidity.

Gold Surges as a Warning SignalInterestingly, over $750 billion was added to gold’s market cap in the same period. That’s a clear risk-off indicator, suggesting capital is rotating toward safety rather than speculation. When gold shines, it often means crypto and stocks are cooling.

Market Sentiment: Funding Rates Turn NegativeFunding rates for Bitcoin, Ethereum, and Solana have turned negative across major exchanges, signaling that traders are paying to short—essentially betting against the rally.

Negative funding often means skepticism dominates. But it also sets the stage for potential short squeezes if positive momentum returns.

Whale Activity Adds IntrigueA well-known whale wallet reportedly flipped from short to a massive $195.7 million ETH long position shortly after tariff updates. Whether this is insider confidence or calculated speculation, it shows how smart money is positioning early while retail remains cautious.

Why the Market Is Still Bearish Despite Good NewsThe overarching reason is simple: liquidity hasn’t returned yet.
Reopening the government removes one uncertainty but doesn’t inject new capital. Real bullish trends require monetary easing, ETF approvals, and institutional inflows—none of which have materialized yet.

Until then, the market may oscillate between relief rallies and dips, resembling the early stages of past post-shutdown recoveries.

Historical Context: What Happens After ShutdownsLooking back at previous shutdowns, markets usually:

See a short-term relief bounce once funding resumes.Remain volatile for several weeks as investors reassess policy impact.Trend higher only when liquidity conditions improve—usually following Fed action.The current setup matches this pattern: relief, skepticism, and waiting for proof of liquidity.

What Investors Should Watch NextFinal House Vote confirming the reopening bill.Federal Reserve statements about December’s meeting—especially rate-cut signals.Funding rate normalization as a sign that sentiment is shifting.ETF approval flow—any green light could trigger an altcoin recovery.Gold vs. Bitcoin flows, indicating whether risk appetite returns.Conclusion: A Calm Before the Real StormThe U.S. government’s reopening is undoubtedly positive, but it’s not yet a market catalyst. Traders remain cautious as liquidity waits to return and policy signals evolve.

In short, the foundation for a future bull cycle may have been laid—but the spark hasn’t ignited yet.

Expect sideways moves, surprise squeezes, and growing anticipation heading into December’s Federal Reserve meeting.

Crypto investment funds got hammered again last week, bleeding $1.17 billion in outflows for the second straight week.

Willy Woo released a “Quantum Safe” Bitcoin guide, urging users to move funds.The analyst warned that Taproot (“bc1p”) addresses expose public keys.Experts estimate quantum threats could endanger Bitcoin between 2028 and 2030.Prominent Bitcoin (BTC) investor and analyst Willy Woo has released a guide to help holders safeguard their assets against potential quantum computing attacks, advocating for the use of SegWit wallets.

This comes as rapid advances in quantum computing intensify concerns over Bitcoin’s long-term security. Experts warn that future machines could eventually crack the cryptographic foundations protecting users’ funds.

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How to Protect Your Bitcoin from Quantum ComputersQuantum computing is often described as a future existential risk to Bitcoin’s cryptographic backbone. Woo explained that, in the past, users only needed to safeguard their private keys (or seed phrases).

However, with the rise of powerful quantum computers, it will become equally important to secure their public keys as well.

“Basically a BSQC can figure out your private key from a public key. The present day taproot addresses (the latest format) are NOT safe, these are addresses starting with “bc1p” and they embed the public key into the address, not good,” Woo stated.

To address these risks, Willy Woo published a step-by-step “dummies guide” to help Bitcoin holders reduce their exposure. As an interim solution, he recommends transferring Bitcoin to newly created SegWit addresses starting with “bc1q” or legacy formats beginning with “1” or “3.”

SegWit, short for Segregated Witness, is a Bitcoin protocol upgrade introduced in 2017. It improves scalability and efficiency by separating digital signatures (witness data) from transaction data.

This change enables more transactions per block, reduces fees, and resolves transaction malleability issues. It also supports advanced solutions, such as the Lightning Network.

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Woo advises against spending from these addresses until quantum-resistant upgrades are in place. He suggested that this process may take around seven years to complete.

“Send your BTC into the new quantum safe address when the network is NOT congested, once you send, you reveal the private key for a short time. It’s unlikely a BSQC will steal your coins in that short window,” he added.

However, Woo’s recommendations drew criticism from fellow analyst Charles Edwards, founder of Capriole Investments. In a direct response on X, Edwards argued that SegWit offers no true quantum protection and dismissed the guide as insufficient, stating,

“Segwit is no protection model. We need to upgrade the network ASAP, and these kind of posts suggesting we have 7 years would mean the network collapses first. Bitcoin can adapt, but we need to see a lot more traction on that now and really consensus next year. Bitcoin is the most vulnerable network in the world.”

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Woo acknowledged the urgency of addressing quantum-related risks but remained confident in Bitcoin’s long-term strength. He emphasized that while quantum security should be a high priority, Bitcoin’s progress depends on ecosystem-wide consensus.

The analyst added that proactive measures and open discussions are crucial to drive action. He also expressed faith that Bitcoin will ultimately prevail and is far from being “doomed.”

“BTC remains the best monetary asset if you take a long time horizon beyond the next 10 years. Quantum will not break BTC because BTC will adapt,” Woo noted.

Moreover, he emphasized that Bitcoin held in exchange-traded funds (ETFs), corporate treasuries, and exchange cold storage could remain safe from quantum threats, provided that custodians take the necessary precautions. According to him,

“Wallet Apps can also take appropriate action (making sure any spend from an address also moves remaining coins to a new non-taproot address). Satoshi’s 1 million coins using an ancient P2PK address will be stolen (unless a future softfork freezes them). So are lost coins in addresses where there’s past spending activity.”

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Lastly, Woo added that the general view among experts is that quantum computing is unlikely to pose a real risk to Bitcoin until sometime after 2030. However, the timelines vary.

The Quantum Doomsday Clock forecasts that Bitcoin encryption could fall by March 8, 2028. Meanwhile, other experts, such as David Carvalho, CEO of Naoris Protocol, suggest that quantum computers may compromise Bitcoin’s security within 2 to 3 years.

Whether it arrives by 2028 or 2030, it’s clear that quantum computers are on the horizon, and Bitcoin users need to take steps now to prepare.

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While the broader crypto market is down by 1.5%, one corner of the industry is exploding, Privacy coins. Recent data from a leading onchain data provider, CryptoQuant, shows that Zcash (ZEC), Dash (DASH), Monero (XMR), Verge (XVG), and Secret Network (SCRT) have seen record-breaking gains between 20% and 700%.

Privacy Coin Trading Volumes Hit Record LevelsAccording to CryptoQuant data, privacy coins are making a strong comeback, led by Zcash’s explosive rise. Zcash (ZEC) has re-entered the top 20 cryptocurrencies, surging above $600 for the first time in almost seven years and recording $20 billion in futures trading volume.

Similarly, Dash is following closely behind, jumping nearly 50% in just 24 hours and reaching its highest level since early 2022. Its trading volume soared to $5.4 billion, pushing its market cap to around $1.8 billion.

Meanwhile, Monero (XMR) recorded $461.8 million in futures volume, followed by Verge (XVG) and Secret Network (SCRT) with $403.98 million and $228.35 million, respectively.

Overall, privacy coin volumes have surpassed previous market peaks, signaling a strong and lasting rise in investor interest, not just a short-term rally.

Retail Traders Are Back Further CryptoQuant data also reveals a sharp jump in retail trading, especially for Zcash (ZEC) and Dash (DASH). Futures trading activity for both coins has jumped sharply, a clear sign that FOMO is back and retail participation is heating up fast.

While Binance remains the main hub for privacy coin trading, handling about 78% of all volume, Bybit follows far behind with 17%

However, privacy coins now account for 6% of total crypto trading volume, the highest in history,  meaning one in every 16 trades involves a privacy-focused token. Their market cap soared to $41.7 billion, rising 41% in a single day this November.

Bitcoin’s Calm, Privacy’s FireInterestingly, the Cryptoquant report’s heatmap shows privacy coins tend to rally when Bitcoin stays quiet. When BTC stabilizes, traders look for excitement in coins like ZEC, DASH, XMR, XVG, and SCRT.

However, these tokens have outperformed both Bitcoin and most altcoins recently, fueled by strong technical setups and renewed talk about digital privacy and sovereignty. 

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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Amid the recent market recovery, Ethereum (ETH) is retesting a key level as support for the first time in a week, leading some market watchers to suggest that the highly anticipated end-of-year run may be delayed for a few more weeks.

Ethereum Eyes Next Key Level
On Monday, Ethereum retested a crucial level after reclaiming it during the Sunday rebound. The cryptocurrency has been trading within the $3,100-$3,500 range after last week’s market shakeout, briefly hitting a four-month low of $3,057.

Over the weekend, the King of Altcoins reclaimed the $3,400 resistance and soared approximately 7% to the $3,650 level, stabilizing around the $3,500-$3,550 area as the new week started.

Daan Crypto Trades noted that the current levels are a crucial area to hold in the short term, explaining that “If the bulls can make that happen, we can start looking to fill up some of that inefficiency that was created during the big flush recently.”

Nonetheless, Ali Martinez highlighted that over 869,000 ETH were accumulated around the $3,700 level, forming a major resistance wall in the cryptocurrency’s path to the $4,000 psychological barrier.

Martinez also pointed out that the number of mega-whale addresses holding more than 10,000 ETH dropped by nearly two dozen in the past week. Per CoinGlass data shared by the analyst, 23 of the largest Ethereum whales sold or redistributed their holdings between November 4 and November 8.

Despite this, large-scale investors continued to bet on the King of Altcoin during the market sell-off. Tom Lee, CEO of BitMine, affirmed that “the recent dip in ETH prices presented an attractive opportunity” to purchase the cryptocurrency.

As a result, the company bought 110,288 ETH, worth $400 million, last week, increasing its holdings to 3,505,723 million tokens, or 2.9% of ETH’s total supply.

ETH’s Q4 Rally Delayed?
Despite the recent recovery, Ted Pillows suggested that Ethereum might not run to new highs this month, arguing that, just like Bitcoin, “Ethereum isn’t showing any correlation with M2 supply.” The analyst explained that this often happens when US liquidity growth is hindered.

Based on this, he considers that the second-largest cryptocurrency by market capitalization could consolidate throughout the rest of the month “before taking off in Dec 2025/Jan 2026.”

Similarly, analyst Crypto Wolf believes ETH will likely “print a clear higher low” near $3,400-$3,500 this month as “only after that can we realistically target new ATHs into December.”

The market watcher highlighted that $3,100 is the next major support zone after the recent shakeout. If this level holds in the higher timeframes, ETH could build a base to retest the recent highs. However, losing this crucial area would be “how the bear market begins.”

Meanwhile, analyst Cas Abbé noted that ETH’s recent performance resembles its Q2 price action. At the time, the altcoin briefly broke below its multi-month consolidation range before recovering and rallying 100% to new highs in the next two months.

If history repeats itself, Ethereum could be preparing to retest the $3,700-$3,800 resistance soon and potentially record a massive rally by the end of the year.

ETH trades at $3,540 on the one-week chart. Source: ETHUSDT on TradingView
Featured Image from Unsplash.com, Chart from TradingView.com

Large Ethereum holders have significantly increased their positions, while institutional investors have withdrawn from crypto funds. The contradictory actions of whale aggregation and retail caution are a crucial inflection point for digital asset markets.

Whale Wallets Drive ETH Accumulation WaveAccording to the blockchain analytics platform CryptoQuant, wallets holding 10,000-100,000 ETH have accumulated 7.6 million tokens since late April. This is a 52 percent growth in aggregate investor holdings by these large investors. 

The opposite is true for smaller holders. Balance in wallets containing 100 to 1000 ETH reduced by 16%. This is a sign of a widening divide between institutional confidence and retail skepticism in the existing market terrain.

CryptoQuant analyst ShayanMarkets highlighted successive spikes in Ethereum spot trading volume.  These surges have occurred multiple times since the price decline in early November. These patterns are often formed during late-stage compression phases before significant upward price movements.

The accumulation comes as the macroeconomic conditions show signs of improvement. There is a sense of optimism that there might be an end to the US government shutdown, and this has increased risk appetite in digital assets. 

Source: CryptoQuant

Bitcoin Tests Key Support as Market Sentiment ShiftsBitcoin has recovered to around $105,029 at the time of writing, following several declines below the psychological $100,000 mark. QCP Capital released a report detailing this price action alongside improved market sentiment. The cryptocurrency joined equities in a broad relief rally driven by hopes of a shutdown resolution.

The rebound came despite ongoing outflows from spot ETFs and sustained selling from long-term Bitcoin holders. QCP Capital compared the current wave of original holder selling to past distribution events like Silk Road and Mt. Gox liquidations. However, deeper market liquidity has absorbed these supply shocks without breaking structural momentum.

Risk reversals indicated fading demand for downside protection. This shift signals reduced market fear of another major liquidation event. Bitcoin's strong defense of the $100,000 level provides technical support for the near-term price structure.

QCP Capital expects continued range-bound trading in the medium term. Digital Asset Treasuries remain a key sentiment driver but have shown limited activity during tight trading ranges. Any push above $118,000 could face renewed selling pressure from long-term holder wallets unless macro tailwinds and ETF inflows strengthen substantially.

Institutional investors withdrew $1.17 billion from crypto investment products last week. This marks the second straight week of heavy redemptions amid renewed market volatility and macroeconomic uncertainty. Trading volumes in exchange-traded products remained elevated at $43 billion despite the outflows.

The United States market drove the majority of withdrawals. American funds saw $1.22 billion in outflows during the period. Germany and Switzerland bucked the trend with modest inflows of $41.3 million and $49.7 million, respectively.

Bitcoin funds experienced the largest outflows, totaling $932 million. Ethereum funds followed with $438 million in redemptions. Short Bitcoin ETPs recorded $11.8 million in inflows, marking their strongest performance since May 2025.

Bitcoin rose 290% in the five months after the end of the last major US government shutdown. That 2019 move, from roughly $3,500 in late January to nearly $14,000 by June, now circulates as a template for what comes next.

The Senate advanced a deal to end the current 40-day shutdown, the longest on record, and Bitcoin trades around $105,000 as Washington prepares to reopen. Odds on Polymarket of the shutdown ending between Nov. 12 and 15 are at the all-time high of 87%.

Applying the 2019 playbook mechanically points to $400,000 or higher within six months. The problem is that 2019’s surge had almost nothing to do with the shutdown ending.

The rally emerged from an 80% bear-market bottom, rode the Federal Reserve’s pivot from hiking to easing, and unfolded in a market with no spot ETFs, minimal institutional custody, and leverage structures that resembled frontier equity markets more than macro asset classes.

The shutdown’s conclusion provided narrative symmetry, but the real drivers were capitulation, valuation reset, and monetary accommodation. Bitcoin ripped because it had nowhere to go but up, not because the government turned the lights back on.

In 2025, the setup inverts. Bitcoin reached an all-time high of $126,200 on Oct. 6, driven by spot ETF inflows and a pro-crypto policy environment.

Additionally, the shutdown fueled the rally, as it left data pieces unrevealed, leading investors to flee towards assets that could maintain their buying power, such as gold and Bitcoin.

However, the shutdown became the longest in US history, and started affecting a developing crypto regulatory agenda. This resulted in a 20% correction, but the drawdown started from record territory, not from a devastation floor.

The market now holds tens of billions of dollars in spot ETF assets, record corporate treasury positions, and a $73.6 billion crypto lending book, larger than the 2021 cycle peak and more than double the 2019 levels.

This is not a washed-out, underowned asset poised for reflexive melt-up. This is a trillion-dollar, institutionally intermediated market where basis trades, derivatives hedging, and profit-taking anchor price action as much as speculative momentum.

Why 2019 happenedThe last shutdown ran from Dec. 22, 2018, to Jan. 25, 2019. Bitcoin entered that period trading in the $3,500 range after an 80% collapse from its late-2017 peak. Miners capitulated, weak hands exited, and leverage unwound.

By the time the government reopened, Bitcoin had formed a multi-year low with asymmetrically skewed upside: valuations were cheap, positioning was light, and the only sellers left were committed long-term holders.

The Federal Reserve provided the macro tailwind. In January and March 2019, Chair Jerome Powell shifted from a tightening stance to “patient,” signaling the end of rate hikes and the start of easier policy.

Markets read that pivot as a green light for risk assets, and Bitcoin benefited from lower real-rate expectations and a weaker dollar.

The crypto-specific backdrop reinforced the move, as institutional custody infrastructure was launched, derivatives markets matured, and the 2020 halving was approaching on the forward calendar.

Facebook’s Libra announcement in mid-2019 added a legitimacy narrative that pulled capital off the sidelines.

The shutdown’s end aligned with those forces but did not cause them. Bitcoin’s rally was a post-capitulation reflation trade that coincided with Washington’s reopening.

The narrative stuck because it was clean and symmetrical, with government dysfunction ending and risk appetite returning, which led to Bitcoin’s explosive growth. Yet, the mechanism was leverage reset and Fed accommodation, not fiscal policy normalization.

What changed between cyclesThe November 2025 shutdown ends with Bitcoin above $100,000, not below $4,000. That valuation gap alone eliminates most of the asymmetry that made 2019’s rally possible.

There is meaningful overhead supply from ETF holders, corporate treasuries, miners who locked in forward sales during the rally, and retail participants sitting on unrealized gains.

Additionally, the market structure has become increasingly professionalized, with spot ETFs now dominating flows, derivatives volumes dwarfing spot, and the lending market expanding to a record size.

That depth improves liquidity and reduces volatility, but it also dampens the kind of violent, undercapitalized blow-offs that defined earlier cycles.

The macro backdrop diverges as well. In 2019, the Fed pivoted cleanly into easing with subdued inflation and no external shocks. In late 2025, inflation remains elevated, tariff policies introduce uncertainty, and the Fed faces constraints on how much further it can ease without risking price stability.

The shutdown itself compromised data transparency and delayed regulatory approvals, creating an overhang that will be alleviated when operations resume. But that release looks more like removing a negative impulse than adding a positive catalyst.

The risk-premium compression from reopening matters, but it does not replicate the dovish macro regime that turbocharged 2019.

Corporate and institutional behavior adds another constraint. In 2019, a few large holders took profits. In 2025, public companies, funds, and ETF sponsors manage billions in Bitcoin exposure.

Those entities optimize for risk-adjusted returns, rather than maximizing upside. They sell into strength, rebalance on volatility, and hedge via derivatives.

That professionalization stabilizes the market but caps reflexive moves. A 290% rally off $105,100 would require those actors to either hold or buy more aggressively than they did on the way to $126,000.

Furthermore, we are at a completely different point in the cycle than we were in 2019. We are still over 500 days away from the next halving in 2028, which typically indicates that winter is coming. In contrast, in 2019, the thaw was already on the horizon.

Neither assumption holds without a macro shock far larger than a shutdown ending.

The bullish case still existsA government reopening removes uncertainty. Data releases resume, agency activity restarts, and regulatory processes for ETF approvals, exchange listings, and corporate actions proceed on schedule.

That clarity matters for institutional flows, which have been the marginal price setter since the launch of spot ETFs. If the shutdown’s end coincides with positive macroeconomic surprises, such as stronger growth, contained inflation, and further easing by the Fed, Bitcoin could experience a significant rally.

The pro-crypto policy environment remains intact, corporate adoption continues, and the halving supply shock is still working its way through the system.

The Oct. 10 washout cleared some leveraged longs. Positioning entering a reopening may be cleaner than it was at the October highs. If pent-up ETF demand and institutional flows return quickly, Bitcoin could grind higher toward new records.

The narrative reflex also matters, as the 290% projection from the last shutdown attracts speculative capital in the short term, even if the analogy is structurally weak. Traders love symmetry, and the story is clean enough to pull flows.

If 2019’s move repeats exactly, Bitcoin trades at $413,400 within six months, a 3.9x multiple from its current price of $105,100. That outcome requires institutional holders to buy more aggressively than they did during the run to $126,000, retail to re-enter at scale, and macro conditions to improve dramatically.

It also requires no meaningful profit-taking, no unwinding of leverage, and no external shocks. Those assumptions are heroic.

A more grounded framework scales down the 2019 effect. If the reopening catalyzes half of the relative move, Bitcoin will land near $260,000. If it delivers one-third of the impact, call it a 97% gain to just above $200,000.

Those scenarios assume the shutdown’s end acts as a reset of local sentiment, rather than the start of a multi-cycle reflation trade.

They also assume that institutional and corporate holders behave rationally, taking profits into strength, hedging against tail risk, and rebalancing exposure rather than chasing momentum.

The realistic question is not whether Bitcoin repeats 2019’s 290% move, but whether reopening marks a local macro low that allows a structurally driven leg higher fueled by ETF inflows, corporate adoption, and regulatory clarity, without the leverage excesses that defined earlier cycles.

Bitcoin does not need a government shutdown to rally. It needs demand to exceed supply at prevailing prices, and the shutdown’s end removes one impediment to that balance.

However, it does not recreate the capitulation, Fed pivot, and underowned market structure that made 2019’s surge possible.

The $400,000 scenario exists, but it is just very unlikely.

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XRP's weekend price moves show no clear direction. All eyes are now on the $2.41 level.

Ripple’s (XRP) recent uptick has pushed its weekly gains to almost 10%, with the token trading at $2.45. Despite this, data suggests that the asset is in “a moment of tension rather than confirmation.”

Its fate now hinges on the $2.41 backtest.

Crucial Fibonacci Level
In a recent market update, CasiTrades warned traders against chasing breakouts and highlighted the need to wait for a backtest of support before entering positions. According to the crypto analyst, an important level to watch is $2.41 on Coinbase, which represents critical Fibonacci support. A reaction in this zone could determine XRP’s next major move. While a short-term bounce toward $2.50 is possible, the analyst noted it remains uncertain whether such a move would sustain or lead to further downside.

If the $2.41 level fails to hold, the macro 0.5 Fibonacci retracement near $2 will come into play as the next logical target. This zone fits within the broader correction pattern the analyst has been tracking. Measuring the subwaves, the structure still points toward a potential test of that $2 support before any major recovery.

The outlook is also influenced by Bitcoin’s price action, as it has yet to break its key resistance levels. CasiTrades observed that Bitcoin remains vulnerable to a pullback toward $97,000 or even $94,000, with invalidation only occurring if it closes above $107,000 on the 4-hour chart, a level it briefly tested but was quickly rejected from.

Overall, the analyst described the market as being in a “moment of tension rather than confirmation,” with clear invalidation points and a defined structure. The reaction around $2.41 will likely dictate whether XRP resumes its upward continuation or falls to retest its macro support near $2.

Structural Factors, Not Short-Term Sentiment
In a statement to CryptoPotato, Alexis Sirkia, Chairman of Ripple-backed Yellow Network, said XRP’s recent price rise is mainly due to growing expectations for the launch of spot XRP exchange-traded funds (ETFs). Several issuers have updated their filings with the US Securities and Exchange Commission (SEC), while the DTCC has listed up to nine possible XRP tickers. Investors are positioning early, expecting strong retail and institutional inflows once the ETFs go live, possibly around November 13.

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XRP ETF Watch: DTCC Listing Signals Possible 1933 Act Launch This Week

XRP Profit-Taking Divergence Signals More Pain Ahead for Ripple’s Price

Ripple (XRP) Bulls Celebrated Too Early: Analysts Expect One More Painful Drop

Sirkia also pointed to Ripple’s $500 million investment and $40 billion valuation as signs of growing confidence in the XRP ecosystem. He said that major financial players like Citadel and Fortress investing in Ripple show a strong belief in the XRP Ledger’s utility. According to Sirkia, XRP’s next big move will likely depend on these long-term structural developments rather than short-term market sentiment.

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Zcash spot volume bubble map vs. price chart. Source: CryptoQuant
The indicator, which visualizes spot trading activity across major exchanges, shows that ZEC’s volume and momentum have reached historically elevated levels, often associated with speculative excess.

In previous cycles, similar overheating signals have appeared shortly before major local tops, marking the end of aggressive uptrends. For instance, in 2021, a similar signal preceded an 80% crash within a year.

This surge in trading volume suggests that short-term traders may be dominating the market, increasing the probability of a volatility spike or profit-taking-driven correction in the coming weeks.

ZEC Corrects From Most Overbought Levels
Last week, ZEC’s weekly relative strength index (RSI) surged to 94.24, its highest level in history. Since then, the price has corrected by more than 35%.

ETH falls from $4,960 to $3,000 in 3 months, echoing 2020's drop. Analysts track whale activity, support zones, and market signals.

Ethereum (ETH) has seen a steep decline over the past three months, dropping from a high of $4,960 to a low near $3,000. The move resembles the 2020 correction, when the asset fell from $490 to $308 before starting a major rally.

Analysts are drawing comparisons between both events as ETH begins to recover.

Price Drop Matches 2020 Correction
Crypto analyst Galaxy pointed out that both corrections saw a drop. In 2020, the price bounced back strongly after hitting a low of $308. In 2025, ETH fell to $3,064 and is now trading above $3,500. Galaxy said the market could be repeating the same pattern.

$ETH went trough a similar correction back in 2020.

2020: $490 to $300

2025: $4900 to $3000

If you ask me, we’re just getting started. pic.twitter.com/l0P3SEZvxh

— Galaxy (@galaxyBTC) November 10, 2025

Notably, the key support zone is now between $3,000 and $3,100. A clear hold above support could lead to a strong recovery, as seen in the previous cycle.

In addition, Cas Abbé pointed to similar setups in 2025. Earlier this year, ETH dropped, then bounced 100%. They believe the recent move towards $3,000 may have been another false breakdown.

Key Support and Resistance Levels
Lark Davis said ETH is still holding above a trendline that has supported the price since April. That support line is intact, but short-term pressure remains. The 20-day EMA is acting as resistance around $3,695. ETH has not yet closed above it.

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Meanwhile, the MACD indicator is close to a bullish cross. Davis said,

“Support vs. resistance vs. momentum – something’s about to give.”

ETH is being squeezed between levels. A breakout or breakdown could follow soon, depending on which side gives way first.

Source: Lark Davis/X
Whale Activity and Liquidity Targets
Bitcoinsensus shared that ETH reversed quickly after sweeping lows around $3,350. This move may have been driven by a liquidity grab. The next area of interest is near $4,950, where there is resistance and more liquidity.

PRIME 𝕏 reported that large holders began buying ETH when the price hit $3,200. If support between $3,000 and $3,400 holds, targets around $4,500 to $4,800 are in play. Whale activity in this range may support a continued move higher. However, Ali Martinez reported that 23 of the largest ETH whales sold or redistributed holdings over the past week.

This comes as ETH trading volume and open interest have reached record levels, as CryptoPotato reported. Some market watchers now say speculation is driving prices more than long-term holding.

Moreover, BitMine also released its latest holdings on November 10, 2025. The company reported 3.5 million ETH valued at $3,639 each, as well as holdings in BTC and other assets. The reported position indicates continued institutional exposure to Ethereum despite market fluctuations.

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Quick Facts:

➡️ Square’s launch of $BTC payments across 4M merchants turns a long-running narrative into live rails, pushing wallets to the center of crypto UX.
➡️ Compliance hardening at Block reduces merchant hesitation, a key prerequisite for sustained crypto-at-checkout adoption in mainstream retail.
➡️ Best Wallet Token targets the wallet bottleneck with app-first UX and staking designed to retain users through launch and beyond.
➡️ $BEST presale dynamics: $16.9M+ raised, 77% staking, $0.025925 token price, offer timed exposure to the $BTC payments flywheel.

Square just put Bitcoin at the register for more than four million sellers.

The payments giant flipped the switch on native $BTC payments across its merchant network, letting shoppers pay via Lightning and merchants settle near-instantly.

The company announced the news with a blunt, yet comprehensive, ‘Bitcoin payments are now live,’ which garnered over 1.2M impressions.

Operationally, Square’s own materials emphasize one-tap enablement inside the seller dashboard and Lightning invoice QR codes at POS, a UX choice that cuts friction where it matters: the counter.

The official press release reports the rollout targets millions of sellers globally, with ‘zero processing fees’ messaging in early comms designed to nudge adoption.

Block’s own site positions $BTC payments as part of a longer arc that includes Cash App’s Lightning support, Bitkey self-custody, and open-source mining.

The flip side is discipline. Square’s parent, Block, has tightened compliance after regulatory settlements earlier this year, following a hefty $40M fine. Stronger controls are exactly what large merchants want to see before they lean in.

Put the pieces together, and you get a cleaner runway for wallet-centric products. If millions of points of sale start accepting $BTC, user onboarding, custody, and staking all come into view.

That’s why investors are kicking the tires on Best Wallet Token ($BEST) — a wallet-first ecosystem with live presale economics and staking designed to convert new users into long-term participants.

Best Wallet Token ($BEST) — Wallet-First Rails Built for a $BTC-at-Checkout World
Square’s move surfaces a simple bottleneck: most ‘mainstream curious’ users still lack a wallet that feels like mobile banking, not a command line. Best Wallet Token ($BEST) aims directly at that gap.

The project’s materials describe a non-custodial, app-first wallet designed to streamline $BTC and multi-chain asset management, with staking soon to be built into the user journey rather than tacked on in a separate dApp.

The pitch is less about chasing unsustainable yields and more about turning idle balances into on-platform activity through governance, rewards, and sticky retention.

Numbers help ground the story. Recent roundups put $BEST’s presale haul north of $16.9M, with staking rewards advertised at 77% for early participants.

High APYs nearly always signal bootstrapping mechanics; here the design goal is to attract early liquidity, incentivize holding through the post-launch window, and seed a governance base before listings tighten token velocity.

The takeaway for you: if $BTC payments make wallets the new homepage of crypto, the projects that own that homepage earn a structural bid.

This is where Best Wallet ecosystem makes its entry, offering top security, a user-friendly UI, and a multitude of upcoming services, including support for over 60 chains, the Best Card, and iGaming partnerships. Read our Best Wallet review for more info.

The $BEST Presale — Pricing, Traction, and Why the Timing Syncs With Square’s Pivot
Presales live or die by timing and distribution. With Square normalizing $BTC at checkout, there’s a near-term window where ‘wallet UX that just works’ becomes an investable narrative, not just a roadmap bullet.

$BEST leans into that with a token price of $0.025925 and outstanding long-term potential.

Based on Best Wallet Token’s presale performance, utility narrative, and investor interest, our price prediction for $BEST positions the token at $0.62 by the end of 2026. This makes for an ROI of 2,291% if you buy $BEST at today’s price.

The presale’s performance supports this prediction thanks to the growing investor participation, which already recommends Best Wallet Token as one of the best presales of 2025.

The project rewards early participation, so if you want to invest, get your $BEST today before the next price increase.

This isn’t financial advice. Do your own research before investing.

Authored by Bogdan Patru, Bitcoinist: https://bitcoinist.com/square-launches-btc-payments-4m-merchants-best-wallet-token-soars

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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Canary XRP ETF gets automatic approval for Nasdaq listing as the issuer submitted an 8-A filing with the U.S. Securities and Exchange Commission (SEC). The spot XRP ETF is expected to start trading later this week.

Meanwhile, XRP price has started gaining upside momentum amid multiple catalysts, including the first spot XRP ETF launch under the 1933 Act and the potential US government shutdown ending this week.

Canary XRP ETF Gets Auto-Effective Approval
Canary filed Form 8-A with the US SEC on November 10, which is the final step before the XRP ETF launch. The spot XRP ETF is now auto-effective and likely to begin trading this week, pending CERT filing for details on the trading date.

According to the latest filing, Nasdaq approved the listing of Canary XRP ETF shares on the exchange under the ticker symbol “XRPC.” It states that a description of the shares is contained in the trust’s “registration statement on Form S-1, filed with the Securities and Exchange Commission on or about October 24, 2025.”

The trust’s investment objective is to provide exposure to XRP. Experts such as Nate Geraci believe XRP ETF launch marks a big win for Ripple against previous anti-crypto regulators.

Canary Capital CEO Steven McClurg says, “XRP ETF will probably double what Solana did in its first week.” He spotlighted demand in XRP as evident from market cap and trading volumes.

CEO Steven McClurg at Canary Capital on XRPETF.. #XRP pic.twitter.com/2UnDKdvc4R

— RIZ.. 🇺🇸 🇵🇷 (@RizXRP) November 10, 2025

Details on Canary XRP ETF (XRPC)
Canary Capital updated its XRP ETF application and cleared SEC delays to launch on Nasdaq this Thursday. This comes after the automatic approval of Canary’s Litecoin and HBAR ETFs last month with 8-A and CERT filings.

The issuer has set a management fee of 0.50%, with no waiver announced yet. In contrast, Bitwise XRP ETF announced a management fee of 0.34%.

The XRP ETF will track the spot price from the XRP-USD CCIXber Reference Rate Index. Notably, U.S. Bancorp Fund Services is the transfer agent and the administrator of the Trust. Whereas, Paralel Distributors LLC is the marketing agent.

Gemini Trust Company and BitGo Trust Company are the custodians. U.S. Bank, an affiliate of the transfer agent, is the cash custodian.

XRP Price Bounces
XRP price has jumped nearly 10% in a week. Trading volume and futures open interest have spiked in the last few days amid anticipation of the Canary XRP ETF launch and the US government shutdown ending.

At press time, the price is trading at $2.48. The intraday low and high are $2.46 and $2.58, respectively. Furthermore, trading volume has increased by 40% in the last 24 hours, indicating interest among traders.

In the daily timeframe, the price is trading below the 50-SMA and 200-SMA, with jitters in traders because of a death cross formation. However, the Canary XRP ETF launch this week can trigger a rebound.

CoinGlass data showed massive buying in the derivatives market. At the time of writing, the total ETH futures open interest jumped 12% to $4.07 billion in the last 24 hours. XRP futures open interest on CME and Binance climbed more than 3% and 12%, respectively.

Uniswap founder and CEO Hayden Adams unveiled the “UNIfication Proposal,” a sweeping governance initiative aimed at turning on protocol fees, burning UNI, and aligning incentives across the decentralized exchange's (DEX) growing ecosystem. Uniswap Moves Toward Unified Governance Uniswap is setting the stage for its next evolution.

2 mins mins

Key Points:

Monad’s ICO introduces transparency with full market maker disclosures.First time such detailed information is made public.Industry anticipates greater accountability in future ICOs.
Coinbase’s new public token sales platform will launch Monad’s ICO on November 17, marking unprecedented transparency in market maker disclosures involving institutions like Galaxy and Wintermute.

This ICO transparency initiative may set new standards in the crypto sector, potentially impacting ICO regulatory oversight and best practices.

Monad’s ICO: Market Maker Disclosure Unveiled
Monad’s First ICO through Coinbase reveals agreements with market makers including CyantArb, Auros, Galaxy, GSR, and Wintermute. This level of disclosure is unprecedented in the industry, involving a range of strict lending terms and oversight measures.

Introduction of New Practices aims to ensure greater transparency and accountability within ICO processes. Coinbase’s involvement highlights a significant shift towards more responsible allocation and management of these agreements. The Monad’s mission and vision for the future emphasizes this evolving landscape.

Market Response has been largely positive, with Coinbase confirming on social media the opportunity for wider participation in the ICO. This sets expectations for future market stability and consistent engagement. As Keone Hon, Co-founder of Monad, explains:

The public sale is intended to widen participation and introduce the network to a broader audience beyond the core crypto community.
Investor Confidence Grows Amid ICO Price Volatility
Did you know? The Monad ICO’s transparency could pave the way for increased investor confidence, echoing similar transparency shifts from major financial market reforms in the past.

The current MON price stands at $0.02, with a market cap of $9.09 million. Its fully diluted market cap reaches $15.31 million, as reported by CoinMarketCap. Over the past 90 days, MON’s price shows a decline of 21.59%, indicating volatility in the current market environment.

MON(MON), daily chart, screenshot on CoinMarketCap at 07:37 UTC on November 11, 2025. Source: CoinMarketCap

According to Coincu Research, this ICO could lead to improved financial practices, with the potential for regulatory bodies to consider mandating disclosures. These trends support the ongoing demand for more transparent financial activities in the crypto landscape.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Bitcoin miner CleanSpark has proposed raising $1 billion through a convertible bond offering to fund a share buyback and support its AI expansion efforts.

Summary

CleanSpark plans to raise $1.15 billion through convertible notes to fund a share buyback and expand its AI and data center operations.
The company’s shares have fallen to $15.03 on Nov. 10, extending a monthly decline of 25%.

CleanSpark wants to issue $1.15 billion in zero-coupon convertible notes and use the capital to strengthen its balance sheet and accelerate growth, according to a Nov. 10 announcement.

According to the Las Vegas-based firm, the notes are due in February 2032 and will not bear regular interest. Purchasers will be able to convert them into shares of the common stock, or a combination of cash and shares, at CleanSpark’s discretion.

Initial purchasers will also have the option to buy an additional $200 million in convertible notes within a 13-day window from the date of issuance, subject to market conditions and other factors.

The company intends to use $400 million from the proceeds to execute a share buyback, and the remaining funds will be channeled towards power and land expansion, data center development, and to repay its bitcoin-backed credit lines.

CleanSpark expands into AI
CleanSpark forayed into the AI sector last month with the launch of its new division led by industry veteran Jeffrey Thomas, and acquired a 271-acre site in Texas that would house a 285 megawatt power load to develop a dedicated AI data center campus. Around the same time, the company partnered with Submer to explore liquid-cooled and prefabricated infrastructure solutions for high-performance computing.

To fund its AI ambitions, CleanSpark is using proceeds generated from its Bitcoin mining operations, which recently hit a record hashrate of 50 exahashes per second. Last month, the company’s total Bitcoin holdings hit an all-time high of 13,011.

Subsequently, it sold 589 BTC in October and used the capital to acquire the land and secure power agreements for its Texas data center.

CleanSpark has also expanded a $200 million bitcoin-backed credit facility it had secured earlier this year through Coinbase Prime, later adding another $200 million in capacity through agreements with Coinbase and Two Prime.

Recent efforts followed a strong third-quarter performance, which the company has labelled as the “most successful quarter in CleanSpark’s history,” with its quarterly revenue rising 91% year over year to $198.6 million.

Despite its AI expansion and a strong fiscal showing, the company’s shares have struggled over the past month due to Bitcoin’s volatility during the period. 

CleanSpark closed the day at $15.03 on Nov. 10, down 3.47% from the previous close, with after-hours trading extending the slide to $14.36. The stock has fallen 25% over the past month, retreating from highs above $22 seen in mid-October. 

The share buyback, however, may help mitigate further losses.

A viral poll sparked debate, with over 80% rejecting Lightning as real Bitcoin.

The Canary XRP ETF has officially been approved for listing on the Nasdaq, becoming the first ever XRP exchange-traded fund (ETF) to get SEC registration. According to reports, the ETF was automatically approved after the issuer filed a Form 8-A with the U.S. Securities and Exchange Commission (SEC).

The filing, signed by Canary Capital Group CEO Steven McClurg on November 10, 2025, confirms that the ETF’s shares are registered under the Securities Exchange Act of 1934 and will trade under the ticker “XRPC.” This means the long-awaited XRP fund could begin trading in just a few days.

What the Filing RevealsAccording to the SEC document, the ETF’s shares are registered under the Securities Exchange Act of 1934, with the Nasdaq designated as the official trading venue. The registration refers back to the Form S-1 filing submitted on October 24, 2025, which outlined the trust’s structure and investment approach.

The ETF will operate as a common share of beneficial interest, managed by Canary Capital Group LLC, with the intent of providing investors exposure to XRP in a regulated, accessible format.

Market Getting ExcitedThe news has already boosted XRP’s price, helped by other positive signs like the possible end of the U.S. government shutdown. Many in the crypto community say this ETF could attract new investors and bring XRP closer to mainstream markets.

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Throughout the past year, Bitcoin (BTC) and Ethereum (ETH) have emerged as the primary focus for a growing trend of Digital Asset Treasuries (DATs), particularly driven by favorable pro-crypto regulations worldwide. However, recent reports from Reuters indicate that this focus is beginning to shift towards less popular altcoins. 

DAT Firms Explore New Opportunities Beyond Bitcoin 
As of September, there are at least 200 DAT companies, predominantly concentrating on Bitcoin, with a combined market capitalization of approximately $150 billion. This figure reflects a more than threefold increase from the previous year. 

New companies are launching daily, many of which are penny stocks looking for avenues to enhance profits. Yet, as Bitcoin’s value declines, these firms are increasingly turning to new tokens in hopes of achieving greater returns.

In recent weeks, companies such as Greenlane, OceanPal, and Tharimmune have announced plans to acquire tokens like Berachain (BERA), Near protocol (NEAR), and Canton Coin (CC), respectively. 

Peter Chung, head of research at crypto-focused Presto Research, noted that while the initial hype surrounding DATs has diminished, there remains potential for a resurgence. 

In a recent interview with Reuters, an OceanPal representative stated that their acquisition of NEAR tokens was intended to leverage the asset’s integrated artificial intelligence (AI) capabilities.

Retail Investors Lose $17 Billion In Crypto Treasuries
Earlier in the year, many digital asset treasury companies traded at a premium to their crypto holdings as investors believed these firms could leverage credit to acquire more tokens. 

However, with Bitcoin’s recent struggles and an influx of Strategy (previously MicroStrategy) imitators, some companies are beginning to falter. Reuters indicates that at least 15 Bitcoin treasury companies were trading below the net asset value of their tokens as of last Friday.

Retail investors, significant buyers of high-profile Bitcoin treasury companies, reportedly lost around $17 billion on these trades, according to estimates from Singapore-based 10x Research. 

Additionally, digital asset treasuries focusing on other leading cryptocurrencies are also facing challenges; ETHZilla and Forward Industries have recently approved share repurchases, a strategy typically employed to support share prices.

Despite the potential for higher gains, analysts warn of the risks associated with this strategy. Cristiano Ventricelli, vice president and senior analyst of digital assets at Moody’s Ratings, cautioned that expanding into “exotic” and less liquid cryptocurrencies could significantly heighten risk. 

According to Ventricelli, when market conditions worsen, companies that invest in these assets face greater pressure on their equity.

Michael O’Rourke, chief market strategist at JonesTrading, also expressed concern that most digital asset treasury companies may ultimately trade at a discount to their digital assets. 

The daily chart shows the total crypto market cap valuation at $3.53 trillion. Source: TOTAL on TradingView.com
Featured image from DALL-E, chart from TradingView.com 

What to Know:

Three large on-chain purchases in one day totaled roughly a quarter-million dollars, signal whale demand building into the $HYPER presale.
Bitcoin Hyper targets speed and cost via a rollup model that anchors settlement to Bitcoin while running a high-throughput execution layer.
Participation and pricing data show $26.8M+ raised at a live presale stage near $0.013255, pointing to persistent liquidity depth.
The project’s utility-first roadmap aligns with growing demand for $BTC-native payments and DeFi, a setup whales historically front-run.

Whale wallets are leaning into presales again, and the order flow just backed it up.

In a single 24-hour stretch, three large buys of Bitcoin Hyper ($HYPER) stacked roughly a quarter-million dollars’ worth of allocations, with on-chain prints showing one purchase north of $224K and three follow-ups above $35K, $24K, and 21K respectively. That’s real money, not Discord chatter.

For a presale that’s already racked up momentum, the timing wasn’t random.

Why now? Presales tend to catch a bid when broader markets chop and traders look for asymmetric setups they can size into without chasing a green candle.

$HYPER’s pitch is straightforward: a Bitcoin Layer-2 designed for fast, cheap transactions and an app layer that doesn’t feel like a science project. If it onboards users who want Solana-level speed without sacrificing Bitcoin’s security, that’s a narrative whales know how to price.

Momentum also shows up in participation data and the going rate for tokens. Recent figures from market guides track the presale at $26.8M+ raised with a live stage price of $0.013255, suggesting sustained bid depth rather than a one-off pump.

That helps explain the clustering of bigger tickets in a single day. Whales like liquidity, and $HYPER’s presale has it.

Bitcoin Hyper ($HYPER) – $BTC Layer-2 Built For Throughput, Not Vibes
The core proposition is utility. Bitcoin Hyper sets out a ZK rollup architecture that bridges native $BTC into a high-throughput execution layer, then commits state back to Bitcoin. The design leans on Solana’s Virtual Machine for speed, while framing proof and settlement to keep Bitcoin-grade security intact.

The upshot for you is simple: payments, DeFi moves, and dApp interactions with near-instant finality while staying tethered to $BTC as the monetary base. That’s the wedge Bitcoin needs if it wants more than store-of-value status.

The product map matters here. Public materials detail a canonical bridge that verifies Bitcoin block headers and transaction proofs, a sequencing model to order transactions cleanly, and commitments back to Bitcoin’s L1 using zero-knowledge proofs.

The team’s updates emphasize developer tooling and observability, which is the unsexy work that makes a chain usable. If you’ve ever tried building on immature infra, you know why that’s a bullish signal.

That’s the narrative whales are front-running when they scoop presale inventory: utility first, then distribution.

If an L2 can make Bitcoin move like a payments rail while preserving security guarantees, liquidity aggregates. For traders watching risk rotations, it’s a cleaner thesis than hoping for meme-beta alone.

Join the $HYPER presale today.

Bitcoin Hyper ($HYPER) – Presale Order Flow Turns Heads
Let’s talk receipts. One on-chain purchase executed yesterday shows 63.16 $ETH routed through the presale contract, valued around $224K at the time. Three additional buys in the same window added roughly $35K, $24K, and $21K.

Even if you adjust for $ETH price drift, you’re still staring at a day where whales allocated about $286K into a single presale. That kind of cluster usually means either price is about to step up or supply at the current stage is getting thin.

Price discovery favors projects with traction. Data trackers list the current stage at $0.013255 with total commitments above $26.8M.

A presale with that level of intake has enough depth for big wallets to enter without slipping, yet it’s early enough for them to mark a position before exchange liquidity shows up. If you’re sizing a ticket, those are the two conditions you actually want.

There’s also the utility-to-token loop. $HYPER is positioned as the native asset for fees, governance, and staking within the ecosystem, with multi-chain claims and a bridge planned for $ETH, $SOL, and Bitcoin Hyper itself; mechanics that smooth user onboarding.

None of this guarantees performance, but it does set a higher bar than ‘number go up’. For a market hungry for credible Bitcoin-aligned throughput, that’s enough to justify whale-level darts.

Check what all the fuss is about at the $HYPER presale now.

This article is educational commentary, not financial advice. Crypto assets involve high risk; always research independently and consider jurisdictional limitations.

Authored by Aaron Walker, NewsBTC — www.newsbtc.com/news/bitcoin-hyper-whale-buys-onchain-presale-utility-why-hyper/

Key takeaways:

Bitcoin spot demand has flipped positive, signaling a potential bullish reversal.

Increasing spot volume suggests higher speculative activity. 

BTC price must reclaim $110,000 as support to secure the recovery.

Demand for Bitcoin (BTC) has shown signs of recovery in November, signaling a possible bullish reversal. However, traders say momentum will increase once the BTC/USD pair breaks above $110,000. 

Bitcoin apparent demand hits a four-month highBitcoin’s apparent demand has shifted to a positive outlook after rising to its highest level since July, as traders and investors adopt a risk-on approach due to improving macroeconomic conditions.

Capriole Investment’s Bitcoin Apparent Demand metric is a commodity metric that gauges demand, measuring production (mining issuance) minus inventory (supply inactive for over 1 year). 

This demand has increased sharply to 5,251 BTC on Nov. 11, levels last seen on July 31.

Bitcoin's apparent demand has been negative since Oct. 8, bottoming around -3,930 BTC on Oct. 21, before reversing sharply as shown in the chart below.

Bitcoin apparent demand. Source: Capriole Investments.Meanwhile, spot trading volume has increased by 23% to $14.1 billion from $11.5 billion over the last week, suggesting increased speculative activity.

The increase suggests that Bitcoin’s recent recovery to $106,000 was “an early sign of buyer re-engagement,” Glassnode wrote in its latest Weekly Market Impulse report, adding:

“The rise in spot volume suggests stronger investor participation and a potential for a breakout move.”Bitcoin spot volume. Source: Glassnode
Optimism around the end of the US government shutdown and Trump’s promise of $2,000 tariff dividend payments, coupled with the Fed’s expected December rate cut and upcoming quantitative easing, are causing investors to scale back into risk assets. 

Bitcoin price must reclaim $110,000Bitcoin’s bullish weekly close above the 50-week simple moving average has convinced traders of its ability to move higher from current levels. 

Bitcoin’s bullish case now hinges on bulls reclaiming $110,000 as support, according to Swissblock.

“After defending the critical zone, BTC’s next move is all about consolidation and confirmation,” the private wealth manager said in a Monday X post.

Swissblock explained that since the price is still holding the macro structure, momentum will start igniting once bulls “reclaim $108K–$110K pivot zone,” adding:

“Selling pressure is easing, and $BTC is giving early signals of a bullish reversal.”BTC/USD price chart. Source: SwissblockCrucial resistance coming up for #Bitcoin.

The government shutdown is nearly over, which would be an ideal signal for the markets to turn back into bull mode.

To be honest, if $BTC breaks through $110K, we'll likely see a rally towards the ATH.

I do expect #Altcoins to… pic.twitter.com/5j0UEAkq3S

— Michaël van de Poppe (@CryptoMichNL) November 10, 2025
Fellow analyst Jelle said reclaiming the $110,000 support level is “very important as rejecting here would be a clear sign of further weakness in the market.”

As Cointelegraph reported, Bitcoin’s double bottom pattern may boost bullish momentum toward $110,000, but the BTC/USD pair could first see a short-term retracement to fill the CME gap near $104,000.

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The October 10 crash had triggered the worst liquidation event so far in crypto history, and the Bitcoin price suffered immensely for it. The initial wave of downtrend had sent it toward $102,000 before recovery, but the subsequent waves eventually saw the price break below $100,000 for the first time in over four months. However, as the cryptocurrency looks to be finding its footing in the market again, the question of whether it’s time to buy or wait for further decline has grown louder, and crypto analyst MarcPMarkets has answered.

Why BTC Is A Good Spot To Buy
To answer the question of whether it is a good time to buy BTC despite the Bitcoin price crashing in recent weeks, MarcPMarkets believes that there is potential for upside to buying BTC at around $100,000. The crypto analyst explains that despite the majority still being bearish due to the decline, it doesn’t take away the fact that Bitcoin is still presenting a good opportunity to buy, as it sits in an area that has the potential for a bullish reversal.

One major factor that plays into buying BTC being favorable is the fact that the macro environment right now is still very much inflationary. Given Bitcoin’s capped supply, it has emerged to some as the “perfect” edge to the endless money printing being carried out by governments. Thus, as more fiat currency floods the market, it becomes even more valuable to hold BTC as the Bitcoin price is expected to rise in response.

The crypto analyst also explains that the US government shutdown has created what is said to be an information gap. With the shutdown in place, valuable information has not made its way to the public, and these missing reports could have a major effect on the price.

Source: TradingView
Furthermore, the US Federal Reserve has been moving toward a more dovish stance, which is positive for risk assets such as Bitcoin. Interest rates have been dropping, and the FedWatch Tool shows that expectations for further drops to 3.50%-3.75% are on the rise. The Fed is also expected to end quantitative tightening and move into quantitative easing at the start of December, creating an enabling environment for the Bitcoin price to recover.

Bitcoin Price Just Needs To Hold Support
The Bitcoin price is still not completely out of the woods and needs to maintain major support for a recovery to happen. MarcPMarkets points out that there is still support at $98,000, but if the cryptocurrency fails to hold this level, then the Bitcoin price will be facing the next support at $95,000.

The main levels of concern, though, lie around $80,000, as a fall toward this level could mean the start of the next bear market. For one, the analyst explains that $88,000 overlaps with the Wave 1, and failure to bounce from here quickly would mean that the Bitcoin price is in a broader corrective wave.

“I believe the broader bullish structure (Wave 4) is still intact until price overlaps Wave 1 at 88K,” the analyst said. “IF this level cannot be tested within this bearish attempt, it implies a broader Wave 5 is likely to follow which theoretically can see a test of the 126K high.”

BTC fails to hold momentum | Source: BTCUSD on Tradingview.com
Featured image from Dall.E, chart from Tradingview.com

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Bitcoin price is consolidating near $105,000 amid growing stablecoin liquidity, hinting at a quiet accumulation phase that could spark the next major move.

Summary

Bitcoin hovers around $105,000 as market liquidity keeps growing.
Stablecoin reserves climb, hinting at fresh buying power.
Technicals are neutral but momentum favors accumulation.

Bitcoin is holding steady around $104,978 after slipping 1.3% in the past 24 hours. The top cryptocurrency has traded between $99,376 and $106,562 over the past week, down just 0.4% in seven days and roughly 6% over the past month. It now sits 16% below its record high of $126,080 reached on Oct. 6.

Even with the mild pullback, trading activity remains solid. Daily trading volume has climbed 12% to $70.68 billion, showing that participation in the market is far from cooling off.

Data from CoinGlass shows derivatives volume also climbed 14.44% to $105.83 billion, while open interest dropped 3.34% to $67.58 billion, suggesting traders are rotating positions rather than increasing risk exposure. This may be a sign of caution ahead of potential volatility.

Stablecoin buildup signals latent buying power
According to a Nov. 10 analysis by CryptoQuant analyst KriptoCenneti, Bitcoin’s (BTC) next big move may be quietly building in the background. The Bitcoin Stablecoin Supply Ratio, a measure comparing Bitcoin’s market value to the size of the stablecoin market, has fallen from above 18 earlier this year to just 13.1, one of the lowest levels seen in 2025.

A falling SSR means stablecoin reserves are growing faster than Bitcoin’s valuation. In simple terms, there’s more “dry powder” sitting on the sidelines, ready to move into Bitcoin when confidence returns. 

SSR fell from 15 to 13 in the last month, despite Bitcoin’s price remaining near $105,000. This pattern implies that rather than leaving the market, investors are getting ready to buy.

Additionally, another CryptoQuant analysis showed that Bitcoin reserves are still declining while Binance stablecoin reserves are increasing. This liquidity structure frequently appears close to market turning points, when long-term holders start to build positions and selling pressure lessens. 

Bitcoin price technical analysis
On the technical side, Bitcoin’s momentum appears neutral. The market isn’t stretched either way, as indicated by the relative strength index, which is at about 44. Although there are no obvious signs of a breakdown, the MACD indicator remains slightly negative, indicating a slight short-term weakness.

Bitcoin daily chart. Credit: crypto.news
Bitcoin continues to find strong support near $99,000, a level where buyers have consistently stepped in. The price is also consolidating between the short-term moving averages and the middle of its Bollinger Bands, suggesting a cooling-off period after the volatility of October.

If the price breaks clearly above $107,800, it might move towards the $112,000–$116,000 range. On the other hand, a drop below $99,000 can result in a retest of support near $97,000.