Market Signal Briefing

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The recent volatility in Bitcoin’s dominance could be a signal that altcoin season is approaching sooner than many traders expect, according to a crypto analyst.

“The reason why you should have confidence in the altcoin price action is because the BTC Dominance chart looks bearish and has looked bearish for many weeks,” crypto analyst Matthew Hyland said in an X post on Friday. 

“The downtrend is favorable to continue; therefore, this relief rally has been a dead cat bounce in a downtrend,” Hyland said. In a separate video on Saturday, Hyland said that the recent volatility in Bitcoin’s (BTC) price may have been orchestrated by traditional finance giants.

“Over the past month, I’ve kind of just maintained the view that a lot of this was really just manipulation, essentially for Wall Street to set themselves up,” he claimed.

Bitcoin dominance has dropped 5% since MayBitcoin’s dominance, which measures Bitcoin’s overall market share, is down 5.13% over the past 6 months, and holding 59.90% at the time of publication, according to TradingView. 

Bitcoin dominance is down 5.05% over the past six months. Source: Trading ViewIt was only on Nov. 4 that Bitcoin slipped below the $100,000 price level for the first time in four months, leading to broader market concerns about where the asset’s price will go next.

Bitcoin is trading at $102,090 at the time of publication, according to CoinMarketCap. 

While Hyland speculated that the altcoin market may gain momentum soon, other indicators, however, continue to point to a market centered around Bitcoin.

Bitcoin is down 15.65% over the past 30 days. Source: CoinMarketCapCoinMarketCap’s Altcoin Season Index currently sits at 28 out of 100, well within “Bitcoin Season” territory. 

Altcoin season may be different from previous cyclesThe last time the indicator signaled “Altcoin Season” was on Oct. 8, just days after Bitcoin hit a new all-time high of $125,100, when traders appeared to anticipate a rotation of capital further up the risk curve.

However, the indicator quickly plunged to risk-off mode after the Oct. 10 market crash which saw around $19 billion in leveraged positions wiped out of the crypto market.

Some crypto executives expect the next altcoin season to be more selective and concentrated than in previous market cycles.

Maen Ftouni, CEO of CoinQuant, a company that produces algorithmic trading tools, recently said that older cryptocurrencies with an exchange-traded fund (ETF) or expected to receive an ETF will soak up much of the capital deployed during the next altcoin season.

“Not every single coin is going to have massive returns; the liquidity is going to be concentrated into certain places, dinosaurs being one of them, of course,” Ftouni said.

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A major crypto whale has made headlines in the decentralized finance (DeFi) market after transferring $14 million in USDC to the Hyperliquid exchange and using most of it to purchase over $8.3 million worth of HYPE tokens. The large-scale buy has been interpreted by analysts as a strong vote of confidence in Hyperliquid and the DeFi sector at large, signaling renewed institutional interest in decentralized platforms.

Bitcoin's recent price drop has reignited debate about whether the world's largest cryptocurrency is entering a deeper correction or simply pausing before its next major rally. According to Bloomberg's senior macro strategist Mike McGlone, Bitcoin's decline toward the $100,000 mark should be viewed as a “speed bump” on its broader journey, with potential downside extending to around $56,000.

Bitcoin (BTC) recently bounced from the $100,000 level, sparking hopes of a bullish reversal. However, traders remain cautious, as this rebound could also be a temporary bull trap. With key resistance looming around $105,000–$106,000, the market’s next move will be critical in determining whether BTC can sustain an upward trend or resume its downtrend.

A Possible Bullish Reversal After Reclaiming $102,000
According to Lennaert Snyder, Bitcoin is showing early signs of a potential bullish reversal. In the post on X, Snyder highlighted that BTC bounced from the recent lows and reclaimed the $102,000 level, signaling renewed buying interest. This recovery comes after a period of weakness, suggesting that the market may be attempting to stabilize before the next major move.

Snyder emphasized the importance of maintaining this momentum and establishing a higher low around $101,400, which would push the bullish scenario into a more sustained rally. Conversely, a failure to maintain support here could indicate lingering bearish pressure, so this level is critical for gauging market sentiment.

BTC set is bullish | Source: Chart from Lennaert Snyder on X
In the meantime, the expert is closely monitoring lower time frame charts for potential scalp-long opportunities if a reversal occurs near $101,400. This tactical approach allows active traders to capitalize on short-term swings while waiting for confirmation of a broader bullish trend. 

Key resistance remains at $104,700, which will be a decisive level for determining the next leg of the move. A successful breakout above this resistance could open the path toward $107,500, signaling that bulls are regaining control. However, given that it’s the weekend, Snyder cautioned that traders should be prepared for sudden swings or false breakouts as liquidity tends to be lower during this period.

Bitcoin Reclaims Momentum, But $105,000–$106,000 Holds The Key
In his latest update, market expert and investor Ted Pillows noted that Bitcoin briefly dropped below the $100,000 mark before bouncing back. The short-lived dip highlights ongoing uncertainty and the tug-of-war between buyers and sellers at key psychological levels.

However, Ted cautioned that this rebound feels like a potential bull trap. While the price recovered quickly, the underlying momentum may still favor the bears, suggesting that traders should remain vigilant before assuming a sustained upward trend.

He emphasized that until Bitcoin can reclaim the $105,000–$106,000 zone, the probability of further downside remains higher. Without a confirmed break above this critical resistance area, the market could continue to support levels as low as $93,394, keeping the short-term outlook skewed toward a possible downtrend.

BTC trading at $102,004 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Getty Images, chart from Tradingview.com

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The Litecoin price has shown impressive resilience after recording a sharp 17% rebound in just one day. The LTC  price has regained investors’ attention as it hovers near a key resistance zone that could define its next big move. This renewed strength comes amid profit-taking pressure and cautious optimism among participants. The focus now rests on whether Litecoin can sustain this short-term recovery and confirm a lasting breakout. With technical patterns tightening, the upcoming sessions will reveal if buyers truly have the upper hand.

Litecoin Price Action Near Breakout
The LTC price is approaching a critical turning point after rebounding sharply from its lower support line. The current Litecoin value sits at $101.02, just under the decisive $102 resistance level that could define Litecoin’s near-term trajectory. 

A breakout above this barrier would confirm a bullish reversal, targeting a potential rise toward $130 in the coming weeks. This move aligns with the structure of a falling wedge pattern visible on the chart, where the price has been compressing for several months. 

Failure to close above $102, however, could trigger a retest of lower support around $85 before a renewed push higher. Overall, the technical landscape suggests that a confirmed close beyond resistance could reestablish a strong upward trend as Litecoin price prepares for its next expansion phase.

LTC/USDT 1-Day Chart (Source: TradingView)
DMI And MACD Indicators Reinforce Bullish Outlook
The DMI indicator highlights growing strength in Litecoin’s long-term price outlook, signaling a potential continuation of the recent uptrend. The +DI line currently sits at 24.76, while the -DI line trails lower at 21.92, suggesting buyers are steadily regaining control.

Meanwhile, the ADX reading at 26.41 indicates that the developing trend is gaining traction and could intensify with a sustained close above the $102 level. Complementing this, the MACD line has crossed above the signal line, confirming a bullish momentum shift that aligns with the strengthening DMI structure.

This dual confirmation reflects improving market conviction and reduced selling pressure, reinforcing Litecoin’s bullish setup. As buyers maintain dominance, the LTC price could extend its climb toward $130, validating the breakout structure and confirming a long-term LTC bullish cycle.

LTC Indicators Chart (Source: TradingView)
Profit Taking Continues But Bulls Hold Their Ground Firmly
The Spot Taker CVD metric currently shows a clear Taker-Sell dominance, reflecting that sellers are slightly more active than buyers in recent sessions. However, this sell pressure mainly stems from profit-taking behavior rather than broad market weakness. 

Despite this, the Litecoin price has remained resilient, hovering near the key $102 resistance zone without showing any meaningful downside reaction. This stability indicates that underlying buy orders continue to absorb most sell volume, keeping the short-term structure intact. 

The profit-taking activity has therefore not yet influenced price direction, as Litecoin price continues to consolidate near a pivotal breakout point. 

Litecoin Spot Taker CVD Chart (Source: CryptoQuant)
Adding to the optimism, the recently approved Canary Litecoin ETFs are set to begin trading on NASDAQ, reinforcing growing institutional interest in LTC. Therefore, if this buying base holds steady, the ongoing sell activity may instead serve as a healthy consolidation phase before Litecoin’s next advance toward $130.

To conclude, Litecoin price remains firmly positioned for an upward continuation after its 17% rally. Sustained buying interest near $102 confirms strong market conviction, signaling that bulls are in control. The broader structure now points toward an advance to the $130 zone as technical indicators align with growing institutional confidence. Overall, Litecoin’s recovery appears intact, with momentum favoring a decisive bullish continuation.

ZCash (ZEC) has been one of the highlight performers in the cryptocurrency market over the past few months. Although the general digital asset market has faltered in recent weeks, the privacy-focused cryptocurrency has continued to ascend to new price highs.

While the large-cap assets have been waxing and waning in terms of market value, the price of ZCash has been on a tear in the past week, breaking into the list of the top-20 largest cryptocurrencies in the sector. Now, the latest on-chain data suggests that euphoria is setting in the ZEC market.

ZCash Puell Multiple Hits New All-Time High
In a November 7 post on social media platform X, Alphractal CEO and founder Joao Wedson revealed that the ZCash market might be overheating after weeks of significant upward price movement. According to the on-chain expert, the sentiment surrounding the coin seems to have finally reached the euphoria stage.

Wedson noted that the group of network participants mostly behind this euphoria is the ZEC miners. This on-chain observation revolves around two primary metrics, including the Puell Multiple and the Hash Rate.

For context, the Puell Multiple is a metric that correlates the issuance value of an asset to its 365-day moving average. This metric measures miners’ profitability on an annualized basis, signaling potential market tops or bottoms.

Source: @joao_wedson on X
According to the highlighted data from Alphractal, the ZCash Puell Multiple just hit an all-time high, indicating significantly high profitability for the miners. This on-chain signal also suggests that the ZEC price could still have more room for upside movement.

Furthermore, Wedson revealed that the ZCash Hash Rate is on a rapid ascent, meaning that miners are devoting more computational resources to the privacy-focused network.

As seen with the premier cryptocurrency, a rising Hash Rate often coincides with extended price rallies. Ultimately, the increasing Puell Multiple and rising Hash Rate signals strong network fundamentals for ZCash, which suggests that the price growth seen so far is not solely market speculation. 

What’s Next For ZEC Price?
As of this writing, the price of ZCash stands at around $714, reflecting an over 30% jump in the past 24 hours. Price action data shows that the ZEC coin is having the second-strongest annual performance in its history, having soared roughly 1,500% in the past year.

In an earlier post on X, Wedson projected an extreme upside of around $1,650 for the price of ZCash. While the current ZEC price already suggests elevated risk for investors, reaching as high as $1,650 would represent full-on market euphoria.

The price of ZEC on the daily timeframe | Source: ZECUSDT chart on TradingView
Featured image from Shutterstock, chart from TradingView

In a notable development in the cryptocurrency market, November 2025 is set to be crucial for altcoins, with multiple exchange-traded funds (ETFs) potentially launching to track their performance. Among these, XRP stands out as a key focus due to a significant influx of ETF applications.

Journalist

Posted: November 9, 2025

Key Takeaways
What do the latest on-chain metrics reveal about Bitcoin’s current phase?
They indicate potential undervaluation, with the MVRV ratio and miner confidence hinting at early accumulation.

How do rising scarcity and stronger network activity influence Bitcoin’s outlook?
The surge in Stock-to-Flow and declining NVT ratio reinforces long-term bullish momentum.

The Bitcoin [BTC] MVRV ratio dropping to 1.8 signals potential undervaluation and investor hesitation at current price levels. 

Historically, similar readings have coincided with buy zones and local bottoms, signaling the early stages of renewed accumulation. 

However, with the ratio echoing past market recovery points, traders are becoming more optimistic about Bitcoin’s resilience despite short-term volatility. Exchange Reserves remain stable, indicating limited sell pressure from major holders. 

This alignment of on-chain stability and undervaluation suggests that Bitcoin may be transitioning from a correction phase toward a stronger accumulation cycle, laying the groundwork for its next major rally.

Miners’ Position Index surges
The Miners’ Position Index (MPI) has surged, marking a significant change in miner behavior. 

Consequently, this surge indicates a sharp increase in miner outflows relative to the one-year average, often linked to strategic repositioning rather than distress selling. 

As miner profitability improves, their willingness to hold mined coins grows, signaling renewed confidence in Bitcoin’s long-term value. 

Historically, spikes in MPI have preceded accumulation periods and upward trends, as miners anticipate favorable price conditions ahead. 

Therefore, this renewed activity strengthens the case for a market bottom, suggesting growing optimism within one of Bitcoin’s most influential groups.

NVT ratio declines 8% as Bitcoin network activity accelerates
The 8% decline in Bitcoin’s Network Value to Transaction (NVT) ratio points to improving transactional health and rising network activity. 

A lower NVT ratio indicates that Bitcoin’s valuation is becoming more aligned with its on-chain utility, reflecting higher transaction volumes relative to market capitalization. 

This trend typically signals organic demand growth as participants engage more actively in transfers and settlements. 

The expanding network throughput complements the MVRV and MPI signals, underscoring stronger network fundamentals despite recent price consolidation. 

Collectively, this data paints a picture of strengthening utility and adoption momentum beneath Bitcoin’s surface-level volatility.

Bitcoin scarcity strengthens ahead of halving
Bitcoin’s Stock-to-Flow (S2F) ratio has risen by 33%, at the time of writing, reinforcing its scarcity narrative and long-term bullish structure. 

This metric, which measures circulating supply against new issuance, has historically surged before major bullish cycles. 

The growing ratio highlights tightening supply conditions, emphasizing that fewer new coins are entering circulation as demand begins to stabilize. 

This reinforces the perception of Bitcoin as a deflationary, high-value asset in anticipation of its next halving event. 

Combined with resilient miner activity and healthy network utilization, rising S2F values signal that Bitcoin’s structural fundamentals remain robust even during price corrections.

Is Bitcoin quietly preparing for its next breakout?
The convergence of a low MVRV ratio, strong miner participation, increasing network activity, and rising scarcity suggests that Bitcoin may be forming a solid foundation for its next upward move. 

Historically, such alignments have preceded powerful rebounds as weak hands exit and institutional accumulation intensifies. 

With fundamentals strengthening across multiple fronts, the current correction could represent a pivotal accumulation opportunity before the next major bull phase emerges.

As November progresses, Dogecoin finds itself in a turbulent market phase, with its value dropping nearly 20% this month. Despite past bullish forecasts, the meme coin's price has been increasingly volatile, shedding light on the challenges of sustaining interest in a sentiment-driven asset.

1 hour ago

BTC has been glued to its fair value since March 2024 and is getting ready to spring higher, according to author and analyst Adam Livingston.

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The Bitcoin (BTC) power law, which places BTC at a “fair value” of $142,000, suggests that the price of BTC is getting ready to burst to the upside, according to author and analyst Adam Livingston. 

Bitcoin's upper band price by December 31, 2025, is projected at about $512,000, while the fair-value price sits at about $142,000, with the low end of the range coming in just north of the $50,000 level, Livingston said. 

Price “hugging” the fair value line since March 2024 is unusual and suggests that Bitcoin is ready to explode higher, Livingston said. He added: 

“Every previous time BTC did this, one of two things happened: It exploded upward because it had been underpriced relative to its long-term power law, or it briefly dipped into the lower band and then ripped vertically, harder than before.”BTC price analysis based on the Bitcoin power law. Source: Adam LivingstonThe bullish price prediction comes amid lowered BTC forecasts from analysts and falling crypto prices, raising investor fears that the next bear market has already started.

Market analysts and crypto industry executives lower BTC price forecastsSeveral investment firms have lowered their BTC price predictions following a historic market crash in October that took the price of BTC below $100,000, a critical psychological price level.

Galaxy lowered its 2025 end-of-year forecast for Bitcoin from $180,000 to $120,000 on Wednesday, citing the October market crash, lower volatility due to market maturation, and investors rotating into competing narratives like AI.

“If bitcoin can maintain the $100,000 level, we believe the almost three-year bull market will remain structurally intact, though the pace of future gains may be slower,” Galaxy’s head of firmwide research, Alex Thorn, said.

Thorn added that the crypto market crash in October “materially damaged” the bullish price trend in the short-term, but said he remains bullish on Bitcoin’s long-term price action.

Cathie Wood, the founder of investment firm Ark Invest, also lowered her long-term BTC price forecast by $300,000 due to stablecoins eroding Bitcoin’s market share by satisfying demand for a store-of-value asset in emerging economies.

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Bitcoin's next major rally could already be underway, according to leading industry voices Matt Hougan of Bitwise Asset Management and MicroStrategy's Michael Saylor. Both see the world's largest cryptocurrency potentially reaching $150,000 by the end of 2025, driven primarily by a powerful wave of institutional investment through exchange-traded funds (ETFs) and other regulated products.

Crypto analyst Colin has raised the possibility of the Bitcoin price mirroring gold’s parabolic move. The analyst further revealed how this could play out for BTC if it were to happen eventually. 

What Will Happen If The Bitcoin Price Mirrors Gold
In an X post, Colin indicated that the Bitcoin price will record another uptrend as soon as next week if it were to follow gold’s move. He opined that it is unlikely the flagship crypto will not witness another significant move to the upside, given that gold and stocks saw meteoric rises to new all-time highs (ATHs) in recent months. 

Coilin further remarked that money will still flow toward crypto, with a delay, as he highlighted in the gold vs BTC chart. He added that the gold top would forecast a top for the Bitcoin price in January 2026 when shifted forward by 80 days. His accompanying chart showed that BTC could still rally to $175,000 if its bull market extends into January next year. 

Source: Chart from Colin on X
Colin admitted that this could be wrong for the Bitcoin price, but noted that many other metrics were pointing toward more upward price action for BTC. Meanwhile, he also highlighted the fact that sentiment was getting bearish in the crypto market. The market is currently on a downtrend, with the BTC dropping below $100,000 on several occasions this week. 

This has raised concerns that the Bitcoin price may already be in a bear market. However, Colin has indicated that BTC could still rally to new all-time highs before this cycle ends. His prediction aligns with that of the likes of Standard Chartered, which has predicted that BTC could reach between $150,000 and $20,000 by year-end.   

Why The BTC Top May Not Be In
In another X post, Colin also explained why the top might not be in for the Bitcoin price in this bull run. He noted that the intersection of the 1150-day SMA with previous bull run peak times the top of the next peak. This happened in both the 2017 and 2021 bull runs, which marked the top for BTC at the time. 

Now, the analyst said that this moving average hasn’t quite lined up with the $65,000 top from the previous cycle, indicating that BTC still has more room to rally to the upside in this market cycle. Colin added that this 1150-day SMA, if projected out, will indicate a top for the Bitcoin price around late December this year or January next year. He reiterated that all metrics collectively point to a top around late December or January next year. 

At the time of writing, the Bitcoin price is trading at around $102,400, up in the last 24 hours, according to data from CoinMarketCap.

BTC trading at $101,877 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from Tradingview.com

Bitcoin's recent performance has become a focal point for investors, as it dipped below the significant $100,000 mark twice last week, a level not breached since June. This development has raised questions about the ongoing bull market's stability and future trajectory.

Bitcoin exchange-traded funds (ETFs) faced their largest single-day outflow since August, signaling rising caution among institutional investors and major Bitcoin holders. According to SoSoValue data, U.S.-listed Bitcoin ETFs saw a staggering $558.4 million in net outflows, marking the biggest drawdown since August 1. This comes as Bitcoin struggles around the $102,000 level, reflecting waning market confidence despite steady prices.

Leading the exodus, Fidelity’s FBTC reported $256 million in outflows, while Ark Invest and 21Shares’ ARKB followed with $144 million, the fund’s largest outflow relative to its size. Even BlackRock’s IBIT ETF, typically more resilient, wasn’t spared—logging $131 million in withdrawals, its seventh outflow in eight trading sessions. Analysts suggest that macroeconomic uncertainty and profit-taking may be driving the pullback.

However, JPMorgan made a contrarian move by increasing its stake in BlackRock’s Bitcoin ETF by 64%, now holding 5.28 million shares worth $343 million as of September 30. The bank also maintains $68 million in call options and $133 million in put positions, showing a balanced yet opportunistic stance on Bitcoin’s volatility.

Adding to the market’s fragility, on-chain data indicates that long-term Bitcoin whales are offloading significant holdings. Capriole Investments co-founder Charles Edwards described the current environment as a “super whale exit phase,” with dormant wallets selling between $100 million and $500 million worth of BTC. Research firm K33 further revealed that “mega whales” have liquidated over $45 billion in the past month, hinting at widespread profit realization.

Despite the selloffs, optimism lingers. Michael Saylor’s bullish “Buy Now” call and James Chanos’ exit from bearish positions are fueling renewed confidence that Bitcoin could soon rebound from its current slump.

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Ethereum (ETH) has fallen about 12% over the past week, slipping after briefly climbing to $3,400. Analysts highlight key liquidity zones between $3,200 and $3,350, indicating the cryptocurrency could revisit that range before attempting a move toward $3,500. The decline reflects broader market uncertainty, with weak global economic indicators and risk-off sentiment pressuring digital assets. Disappointing earnings from major consumer firms and renewed concerns over inflated artificial intelligence valuations have added to bearish sentiment. The ongoing U.S. government shutdown—the longest in history—has also dragged down investor confidence, with consumer expectations sinking to their lowest since 1978, according to the University of Michigan survey.

On-chain data underscores Ethereum’s cooling ecosystem. Total value locked (TVL) has plunged to around $74.26 billion, marking a 24% drop over the past month—the lowest level since July. A major catalyst was the $120 million Balancer v2 DeFi exploit earlier this week. Trading volume fell 31.6% to $65.3 billion, while open interest slipped 3.4% to $38.85 billion. The OI-weighted funding rate, hovering near 0.0073%, reflects muted bullish leverage. DApp activity also declined 18% month-over-month to $80.7 million in October, signaling reduced network engagement and lower staking rewards.

Institutional demand remains sluggish, with U.S.-listed Ethereum spot ETFs seeing net outflows of $507.83 million in November. Corporate treasuries have also avoided new ETH allocations, underscoring weak institutional participation. While the upcoming Fusaka Upgrade in early December may offer a potential catalyst by improving scalability and security, Ethereum’s short-term outlook remains uncertain. Sustained recovery would require stronger macroeconomic conditions, renewed ETF inflows, and on-chain growth. Until then, ETH may continue consolidating near support zones, with limited potential for a breakout toward $3,900.

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Trump Media and Technology Group (TMTG), the media company linked to U.S. President Donald Trump, has disclosed holding more than 11,500 Bitcoin valued at over $1.3 billion. This marks its largest confirmed crypto allocation and positions TMTG among the biggest corporate holders of Bitcoin globally. The move follows the company’s strategic decision to adopt Bitcoin as a core reserve asset, aimed at reducing reliance on traditional financial institutions that it claims have subjected it to discrimination and scrutiny.

TMTG’s pivot toward cryptocurrency mirrors a broader trend of companies using Bitcoin to safeguard against perceived risks in the banking system. Beyond Bitcoin, the company also reported owning around 756 million Cronos (CRO) tokens, valued at approximately $110 million. This investment highlights its growing partnership with Crypto.com, which has led to several blockchain-based initiatives, such as crypto exchange-traded products and promotional collaborations designed to enhance the firm’s digital presence.

Despite its significant crypto holdings, TMTG continues to face financial headwinds. The company posted a $54.8 million net loss in the third quarter of 2025, underscoring that its crypto strategy has served more as a political and operational statement than a short-term profit driver. Meanwhile, the Trump family and affiliated ventures have also ramped up their crypto exposure. Reports from Arkham Intelligence show Trump personally holds about $861,000 in digital assets, while related projects—including World Liberty Financial and Official Trump Meme—collectively control billions in cryptocurrencies. Together, these holdings signal a coordinated embrace of digital assets, reflecting the administration’s growing commitment to crypto as both a financial tool and a national policy priority.

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Hyperliquid, a decentralized trading platform, is reportedly testing a borrowing and lending module on its Hypercore testnet—hinting at a significant expansion beyond its current perpetuals offering. On-chain researcher MLM revealed that the feature, labeled “BLP” (BorrowLendingProtocol), could introduce a native money-market layer to the Hyperliquid ecosystem.

According to MLM, the BLP testnet currently supports only USDC and PURR, but even limited asset integration indicates the foundation of a broader lending framework. If fully deployed, the module would enable users to borrow, supply, and withdraw assets directly within the Hyperliquid environment—creating a self-contained DeFi ecosystem.

MLM added that embedding a lending protocol could also allow Hyperliquid to roll out multi-margin trading safely. In this structure, traders’ margin positions would be backed by verifiable lending pools instead of isolated balance sheets. This model mirrors the transparent systems used by leading DeFi platforms, improving both risk management and leverage visibility.

A native lending layer would also expand Hyperliquid’s reach in the DeFi space, reducing the need for external lending protocols and consolidating user activity within its ecosystem. Such integration could strengthen liquidity flow, enhance capital efficiency, and attract traders seeking a seamless trading and borrowing experience.

However, while Hyperliquid explores innovation, users face growing security threats. A fake Hyperliquid mobile app recently appeared on the Google Play Store, despite the exchange not offering any official mobile application. Crypto investigator ZachXBT warned that the fraudulent app is a phishing scam designed to steal private keys and wallet credentials. He linked it to an Ethereum address responsible for stealing over $281,000 in assets.

This incident underscores the increasing sophistication of crypto-related scams. As Hyperliquid expands its ecosystem, users are urged to stay vigilant and download only verified software to safeguard their funds.

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Camurus AB (publ) (OTCPK:CAMRF) Q3 2025 Earnings Call November 6, 2025 8:00 AM EST

Company Participants

Fredrik Tiberg - President, CEO, CSO & Director
Anders Vadsholt - Chief Financial Officer
Richard Jameson - Chief Commercial Officer

Conference Call Participants

Viktor Sundberg - Nordea Markets, Research Division
Richard Ramanius - Redeye AB, Research Division
Romy O'Connor - Van Lanschot Kempen NV
Shan Hama - Jefferies LLC, Research Division
Georg Tigalonov-Bjerke - ABG Sundal Collier Holding ASA, Research Division
Suzanna Queckbörner - Handelsbanken Capital Markets AB, Research Division
Dan Akschuti - Pareto Securities AS, Research Division

Presentation

Operator

Welcome to Camurus' Q3 Report 2025. [Operator Instructions] Now I will hand the word over to CEO, Fred Tiberg, please go ahead.

Fredrik Tiberg
President, CEO, CSO & Director

Thank you so much, Einer, and hello, everyone. Welcome to our third quarter earnings call. It's a beautiful autumn day here in Lund, Sweden, where we are sending this from. I will assume that you have read our forward-looking statements going forward here. So the agenda for the call today is as follows: we start with third quarter highlights, move on to financial and commercial performance reviews, followed by an update on R&D and then we'll finish off with the key takeaways and Q&A. With me on the call today is Anders Vadsholt, Chief Financial Officer; and Richard Jameson, Chief Commercial Officer.

During the quarter, Camurus delivered strong profitability, continued progress on pipeline programs and prepared for the launch of our next commercial product. Starting then here with some highlights on the financial side. Our quarterly revenues increased by 18% year-on-year, 25% at constant exchange rates to SEK 575 million driven by higher Brixadi royalties. Profitability remains strong. We're growing 48% to SEK 245 million, increasing our cash position to SEK 3.5 billion. We maintained our profit guidance. However, due to the headwinds we have had, we have lowered our full year revenue guidance. The commercial performance

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“Intermediate and secular strength, with short-term caution — a bullish phase under pressure.”

I started to write about the Retail sector through the eyes of the Retail Sector ETF (NYSEARCA: XRT) for some time now.

On the Daily chart, the Retail Sector (XRT) broke down under the 50 DMA (blue) early October.

Here we are one month later, and despite QQQs and SPY having made new all-time highs mid-October, our Granny could not clear back over the 50-DMA.

We call that a warning or caution phase to be taken seriously.

Especially when it is XRT, which represents the consumer or 70% of the gross domestic product.

Now, XRT comes close to testing the 200-DMA (green.)

So, the bigger question is, what now?

This is where multiple timeframes help you step back and gain a more macro perspective.

On the weekly chart, the good news is that XRT remains above the 50-week moving average.

This could suggest that the correction is just about over.

However, I will continue to watch the Daily timeframe as bulls do not want to see the price break below that 200-DMA.

Momentum or the Real Motion indicator shows support at its 200-DMA (also green). 

A break of price and momentum would be a case for even more caution. 

A pop in price from these lows would be more encouraging.

Another interesting timeframe is the monthly chart.

These two long-term moving averages, 23-month (blue) and 80-month (green)—are essential components of MarketGauge’s technical analysis framework to identify major market regimes and long-term trend risk.

Trend Strength & Confirmation

If price is above both the 23- and 80-month MAs, the market is in a strong secular bull cycle.
If price fails the 23-month but holds the 80-month, it’s a warning phase—similar to mid-cycle corrections (2007, 2015, 2018).
A break below the 80-month MA signals a potential crisis-level or secular bear market (e.g., 2001, 2008).

Historical Examples

YearMarket Behavior23M vs. 80M LevelsOutcome2000–2002Dot-com collapseBroke 23M, then 80MSecular bear market2008Financial crisisViolated bothMajor systemic recession2011Debt downgrade scareTested 23M, held 80MMarket recovered2020COVID crashBriefly broke 23M, stayed above 80MV-shaped recoveryPresent (late 2024–2025)Still above both on SPYBull trend intact but stretchedWatching 23M as first warning level
Looking at XRT right now, the price is above the 23-month moving average. 

Hence, retail remains in a bull trend.

Conclusion

Buyers still control the bigger picture, but sellers (or profit-taking) are pressuring the short-term.

This is often a “buy-the-dip in a long-term uptrend” environment, as long as the ETF holds above its weekly/monthly support.

If it reclaims the 50-DMA, momentum can resume higher.

If it loses both the 50-week and 23-month MAs—that’s when a real trend change risk emerges.

Twitter: @marketminute

The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not represent the views or opinions of any other person or entity.

Statistically significant and clinically meaningful improvements in mean ACQ-5 scores were reported at week 16 versus placebo in patients who had atopic dermatitis and a history of asthma

Extended dosing with rezpegaldesleukin q2w supports 24-week induction period for planned Phase 3 studies with improvement across major efficacy endpoints from Week 16 to 24, including EASI-75, EASI-90, and vIGA-AD

Data from long-term maintenance portion of REZOLVE-AD with 52 weeks of treatment expected in Q1 2026 from REZOLVE-AD study

Top-line Phase 2b data for rezpegaldesleukin in alopecia areata to be reported in December 2025

, /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) today presented new data from the ongoing REZOLVE-AD Phase 2b study in a late-breaking oral abstract presentation at the American College of Allergy, Asthma & Immunology (ACAAI) 2025 Annual Scientific Meeting.

Rezpegaldesleukin is a first-in-class IL-2 pathway agonist and regulatory T-cell (Treg) biologic currently being studied in a Phase 2b study in moderate-to-severe atopic dermatitis (REZOLVE-AD) and a separate Phase 2b study in patients with severe-to-very-severe alopecia areata (REZOLVE-AA).

"Given that approximately one in four patients with atopic dermatitis also have asthma, improving asthma symptoms is a significant consideration in clinical treatment decisions," said lead author Dr. Jonathan Corren, Associate Clinical Professor of Medicine and Pediatrics at the David Geffen School of Medicine, University of California, Los Angeles. "The results with rezpegaldesleukin in patients with atopic dermatitis and comorbid asthma demonstrate that promotion of Treg activity may also have benefits to the lower airways, an observation which warrants further investigation."

The Phase 2b REZOLVE-AD trial enrolled 393 patients with moderate-to-severe atopic dermatitis, of which 99 patients also reported having a history of asthma with ACQ-5 data available at both baseline and week 16. A pre-planned analysis in the study evaluated scores from a validated Asthma Control Questionnaire (ACQ-5) at baseline and at the end of the 16-week induction period. For the patients reporting a history of asthma, all three rezpegaldesleukin doses demonstrated an overall reduction in mean observed ACQ-5 scores at week 16 with two dose arms (24 μg/kg q2w and 24 μg/kg q4w) achieving statistical significance (p<0.05) as compared to placebo. Patients in the placebo arm reported an overall worsening of mean ACQ-5 scores.

Improvements were more pronounced in patients with only partly controlled or uncontrolled asthma:

In patients with a baseline ACQ-5 score of 0.5 or higher (N=53), at least half of the patients experienced clinically significant improvement (≥0.5 point reduction) in ACQ-5 at Week 16 across all treatment arms as compared to 13% in the placebo arm.
Placebo-adjusted reductions of mean ACQ-5 scores in the subset of patients with baseline ACQ-5 score of 0.5 or higher ranged from 0.7 to 1.0.
Among the 25 patients with uncontrolled asthma at baseline (≥1.5 ACQ-5 score), all three active doses of rezpegaldesleukin demonstrated a meaningful improvement in mean observed ACQ-5 scores at Week 16 and all dose arms achieved statistical significance (p<0.05) as compared to placebo.
Placebo-adjusted reductions of mean ACQ-5 scores in this subset of patients with uncontrolled asthma at baseline (≥1.5 ACQ-5 score) ranged from 1.0 to 1.4.
For the 24 μg/kg q2w treatment arm, 75% of patients with uncontrolled asthma at baseline had a clinically significant improvement (≥0.5 points reduction) in ACQ-5 at Week 16.

"These observations of improvement in asthma control in REZOLVE-AD support the broad potential of rezpegaldesleukin's Treg mechanism across multiple T-cell mediated inflammatory diseases," said Jonathan Zalevsky, Ph.D., Chief Research and Development Officer of Nektar. "The data demonstrate that rezpegaldesleukin could offer a unique and differentiated innovative treatment for atopic dermatitis, particularly as these findings have not been observed with other biologic mechanisms recently approved or in advanced development."

Overall, in REZOLVE-AD, rezpegaldesleukin 24 μg/kg q2w resulted in statistically significant improvements in the primary and secondary endpoints on all measurements of atopic dermatitis disease control as compared to placebo. Rezpegaldesleukin resulted in improvement of mean percent change in EASI (p<0.001), EASI-75 (p<0.001), EASI-90 (p<0.05), vIGA-AD 0/1 (p<0.05), and NRS-Itch response (≥4-point reduction) (p<0.01) at Week 16. This treatment effect was observed across baseline characteristics for severity of disease, region, and asthma comorbidity.

Results presented today also included data for a total of 42 placebo patients who crossed over at Week 16 and continued in the study on a treatment escape arm to receive high dose rezpegaldesleukin (24 µg/kg q2w). Based on observed data from these patients, EASI-75 response rate at crossover week 24 was 60%; vIGA-AD 0/1 response rate at crossover week 24 was 33%; EASI-90 response rate at crossover week 24 was 37%; and Itch NRS response rate at crossover week 24 was 50% in patients with baseline score ≥ 4. These data support advancing the dose regimen of rezpegaldesleukin 24 μg/kg q2w with a 24-week treatment induction period into Phase 3 studies.

Details of the presentation at ACAAI are as follows:  

Abstract ID: 7005
Oral Presentation: "Rezpegaldesleukin Novel Treg-Inducing Therapy Demonstrates Efficacy in Atopic Dermatitis and Asthma in Phase 2b Trial"
Session Title: Distinguished Industry & Late-breaking Oral Abstracts - Session 2
Presentation Date and Time: Saturday, November 8, 2025 at 5:33 PM ET
Location: Room W231

The full presentation made today at the 2025 ACAAI Scientific Meeting is available on Nektar's website at http://www.nektar.com under Scientific Publications.

About REZOLVE-AD Phase 2b Study

The ongoing global Phase 2b REZOLVE-AD study (NCT06136741) enrolled 393 patients with moderate-to-severe atopic dermatitis who had not previously received treatment with biologic or JAK inhibitor therapies. Patients were randomized across three different dose regimens of subcutaneous rezpegaldesleukin or placebo for a 16-week induction treatment period. Following this period, rezpegaldesleukin-treated patients who achieved EASI percent score reductions of >50 (EASI-50) were re-randomized (1:1) to continue at the same dose level on a q4w or q12w regimen through study week 52 in a blinded maintenance period.

The primary endpoint of the Phase 2b study is mean improvement in EASI score at the end of the 16-week induction treatment period. Secondary endpoints include the proportion of patients achieving Validated Investigator Global Assessment (vIGA-AD) of 0 or 1, those achieving EASI-75, and those achieving a greater than or equal to a 4-point improvement in Itch Numeric Rating Scale (NRS). Preplanned exploratory endpoints include a full range of translational biomarker measurements and a change in asthma control questionnaire - 5 (ACQ-5) scores for patients with comorbidity of asthma.

This trial was initiated in October 2023 and enrolled patients across approximately 110 sites globally with: 68% enrolled and treated in Europe, including Poland, Bulgaria, Germany, Czech Republic, Spain, Croatia and Hungary; 16% enrolled and treated in the United States; 11% enrolled and treated in Canada; and 5% enrolled and treated in Australia. Patient randomization was stratified based on baseline disease severity measured by vIGA-AD and geographic region. Key enrollment criteria in the study included a minimum EASI score of 16.0, a minimum Body Surface Area (BSA) of 10% and a minimum vIGA-AD of 3.

About Rezpegaldesleukin

Autoimmune and inflammatory diseases cause the immune system to mistakenly attack and damage healthy cells in a person's body. A failure of the body's self-tolerance mechanisms enables the formation of the pathogenic T lymphocytes that conduct this attack. Rezpegaldesleukin is a potential first-in-class resolution therapeutic that may address this underlying immune system imbalance in people with many autoimmune and inflammatory conditions. It targets the interleukin-2 receptor complex in the body to stimulate proliferation of immune-modulating cells known as regulatory T cells. By activating these cells, rezpegaldesleukin may act to bring the immune system back into balance.

In February 2025, the U.S. Food and Drug Administration (FDA) granted Fast Track designation for rezpegaldesleukin for the treatment of adult and pediatric patients 12 years of age and older with moderate-to-severe atopic dermatitis whose disease is not adequately controlled with topical prescription therapies or when those therapies are not advisable. In July 2025, the FDA granted Fast Track designation for rezpegaldesleukin for the treatment of severe alopecia areata (AA) in adults and pediatric patients 12 years of age and older who weigh at least 40 kg.

Rezpegaldesleukin is being developed as a self-administered injection for a number of autoimmune and inflammatory diseases. It is wholly owned by Nektar Therapeutics.

About Atopic Dermatitis

Atopic dermatitis is the most common type of eczema, affecting approximately 30 million people in the United States.1 AD is characterized by a defect in the skin barrier, which allows allergens and other irritants to enter the skin, leading to an immune reaction and inflammation.

About Nektar Therapeutics

Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments that address the underlying immunological dysfunction in autoimmune and chronic inflammatory diseases. Nektar's lead product candidate, rezpegaldesleukin (REZPEG, or NKTR-358), is a novel, first-in-class regulatory T cell stimulator being evaluated in two Phase 2b clinical trials, one in atopic dermatitis, one in alopecia areata, and in one Phase 2 clinical trial in Type 1 diabetes mellitus. Nektar's pipeline also includes a preclinical bivalent tumor necrosis factor receptor type II (TNFR2) antibody and bispecific programs, NKTR-0165 and NKTR-0166, and a modified hematopoietic colony stimulating factor (CSF) protein, NKTR-422. Nektar, together with various partners, is also evaluating NKTR-255, an investigational IL-15 receptor agonist designed to boost the immune system's natural ability to fight cancer, in several ongoing clinical trials.

Nektar is headquartered in San Francisco, California. For further information, visit www.nektar.com and follow us on LinkedIn.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements which can be identified by words such as: "could," "develop," "potential," "target," "address," "may" and similar references to future periods. Examples of forward-looking statements include, among others, statements regarding the therapeutic potential of, and future development plans for, rezpegaldesleukin, NKTR-0165, NKTR-0166, NKTR-422, and NKTR-255. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others: (i) our statements regarding the therapeutic potential of rezpegaldesleukin, NKTR-0165, NKTR-0166, NKTR-422 and NKTR-255 are based on preclinical and clinical findings and observations and are subject to change as research and development continue; (ii) rezpegaldesleukin, NKTR-0165, NKTR-0166, NKTR-422 and NKTR-255 are investigational agents and continued research and development for these drug candidates is subject to substantial risks, including negative safety and efficacy findings in future clinical studies (notwithstanding positive findings in earlier preclinical and clinical studies); (iii) rezpegaldesleukin, NKTR-0165, NKTR-0166, NKTR-422 and NKTR-255 are in clinical development and the risk of failure is high and can unexpectedly occur at any stage prior to regulatory approval; (iv) data reported from ongoing clinical trials are necessarily interim data only and the final results will change based on continuing observations; (v) the timing of the commencement or end of clinical trials and the availability of clinical data may be delayed or unsuccessful due to regulatory delays, slower than anticipated patient enrollment, manufacturing challenges, changing standards of care, evolving regulatory requirements, clinical trial design, clinical outcomes, competitive factors, or delay or failure in ultimately obtaining regulatory approval in one or more important markets; (vi) a Fast Track designation does not increase the likelihood that rezpegaldesleukin will receive marketing approval in the United States; (vii) patents may not issue from our patent applications for our drug candidates, patents that have issued may not be enforceable, or additional intellectual property licenses from third parties may be required; and (viii) certain other important risks and uncertainties set forth in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2025. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Contacts:

For Investors:

Vivian Wu
[email protected]

Corey Davis, Ph.D.
LifeSci Advisors, LLC
[email protected]
212-915-2577

Ahu Demir, Ph.D.
LifeSci Advisors, LLC
[email protected]
212-915-3820

For Media:

Jonathan Pappas
LifeSci Communications
857-205-4403
[email protected]

1. Eczema stats. National Eczema Association (2022, September 27). https://nationaleczema.org/research/eczema-facts

SOURCE Nektar Therapeutics

November 08, 2025 6:19 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - November 8, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Fluor Corporation (NYSE: FLR) between February 18, 2025 and July 31, 2025, both dates inclusive (the "Class Period"), of the important November 14, 2025 lead plaintiff deadline.

SO WHAT: If you purchased Fluor 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 Fluor class action, go to https://rosenlegal.com/submit-form/?case_id=44868 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 November 14, 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 lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) costs associated with the Gordie Howe International Bridge ("Gordie Howe"), the Interstate 365 Lyndon B. Johnson ("I-635/LBJ") and Interstate 35E ("I-35") highways in Texas projects were growing because of, inter alia, subcontractor design errors, price increases, and scheduling delays; (2) the foregoing, as well as customer reduction in capital spending and client hesitation around economic uncertainty, was having, or was likely to have, a significant negative impact on Fluor's business and financial results; (3) accordingly, Fluor's financial guidance for the full year 2025 was unreliable and/or unrealistic, the effectiveness of Fluor's risk mitigation strategy was overstated, and the impact of economic uncertainty on Fluor's business and financial results was understated; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Fluor class action, go to https://rosenlegal.com/submit-form/?case_id=44868 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.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273652

NEW YORK, Nov. 08, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of aTyr Pharma, Inc. (NASDAQ: ATYR) between January 16, 2025 and September 12, 2025, both dates inclusive (the “Class Period”), of the important December 8, 2025 lead plaintiff deadline.

SO WHAT: If you purchased aTyr Pharma common stock 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 aTyr Pharma class action, go to https://rosenlegal.com/submit-form/?case_id=46109 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 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 complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating false and misleading statements and/or concealing material adverse facts concerning the efficacy of Efzofitimod, particularly, the drug’s capability to allow a patient to completely taper their steroid usage. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the aTyr Pharma class action, go to https://rosenlegal.com/submit-form/?case_id=46109 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

SAN FRANCISCO, Nov. 08, 2025 (GLOBE NEWSWIRE) -- Inspire Medical Systems, Inc. (NYSE: INSP) is now grappling with a proposed class-action lawsuit alleging the company misled investors about the commercial readiness and demand for its critical “next generation” sleep apnea device, the Inspire V. The litigation zeroes in on the disparity between the company's confident assurances and the subsequent disastrous rollout that led to a dramatic stock crash.

Prominent investor rights law firm Hagens Berman is investigating the alleged claims. The firm urges investors in Inspire who suffered significant losses to submit your losses now.

Class Period: Aug. 6, 2024 – Aug. 4, 2025
Lead Plaintiff Deadline: Jan. 5, 2026
Visit: www.hbsslaw.com/investor-fraud/insp
Contact the Firm Now: [email protected]
844-916-0895

Inspire Medical Systems, Inc. (INSP) Securities Class Action:

The case, styled City of Pontiac Reestablished General Employees’ Retirement System v. Inspire Medical Systems, Inc., et al., No. 0:25-cv-04247-PJS-ECW (D. Minn.), seeks to represent investors who purchased or otherwise acquired Inspire common stock between August 6, 2024 and August 4, 2025.

The complaint asserts that throughout the Class Period, Inspire repeatedly assured investors it had met all regulatory, technical, and commercial prerequisites for the Inspire V launch, while also touting high demand and a successful commercial proceeding.

However, the lawsuit claims the reality was starkly different and undisclosed to investors. The complaint alleges the Inspire V launch was, in fact, a disaster, crippled by minimal initial demand. This weak uptake, according to the suit, was due to the company’s customers already being flush with inventory of older, unsold Inspire IV devices. Furthermore, the complaint suggests Inspire had allegedly neglected basic steps necessary to ensure the new device’s swift adoption by clinicians and payors.

Investors allegedly learned the truth on August 4, 2025. That day, Inspire revealed that the Inspire V launch faced an “elongated timeframe” due to previously undisclosed headwinds.

Inspire explained that “many centers did not complete the training, contracting and onboarding criteria required prior to the purchase and implant of Inspire V.”

The company also said that, although Inspire V’s CPT code was approved for Medicare patients, “software updates for claims submissions and processing did not take effect until July 1.” This meant that implanting centers could not bill for those procedures until July 1 and, as a result, many centers opted to continue treating patients with the older generation Inspire IV.

Inspire further explained that demand for Inspire V was plagued by customers’ need to “burn down” Inspire IV inventory, a headwind that would continue to negatively impact demand for Inspire V.

Lastly, as a result the disastrous launch, Inspire slashed its 2025 earnings guidance by a whopping 80% to just $0.40 to $0.50 per share.

The news sent Inspire shares crashing $42.04 the next day, a decline of roughly 32%.

“We’re focused on investors’ losses and whether Inspire may have intentionally misled investors about headwinds adversely affecting the next generation launch and the dramatic negative effect on the company’s earnings potential,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in Inspire and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Inspire case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Inspire should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895