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Despite demoralized sentiment, easing policy, 401(k) inclusion and bank adoption counter a cycle-peak narrative, K33's Vetle Lunde said.

Wed, 5/11/2025 - 12:46

After a $93 million exploit hit Stream Finance, XRP users are closely monitoring potential exposure through Midas and its mXRP vaults, as withdrawal warnings spread across community channels.

Cover image via U.Today

Stream Finance, a decentralized finance (DeFi) protocol, has suspended all deposits and withdrawals after reportedly losing $93 million in an exploit involving one of its external asset managers. The company says it is assessing the full scope of the incident and has hired legal experts from Perkins Coie to investigate.

However, pending deposits will not be processed until further notice.

The issue began when Stream's native stablecoin, Staked Stream USD (xUSD), lost its peg to the U.S. dollar. According to PeckShield, xUSD fell as low as $0.30 on Tuesday before partially recovering to the $0.37 range.

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What's with XRP?This event quickly drew attention within the XRP community due to Stream’s connection with Midas, a platform that issues the mXRP liquid yield token on the XRP Ledger. Midas had previously held positions in xUSD through its mHYPER vault, which operates under MiCA-regulated structures in Germany. 

While Midas claims to be operational and unaffected, traders have expressed concerns about indirect exposure through yield strategies tied to Stream’s assets.

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Although the platform reiterated that withdrawals are functioning normally, several XRP community members described an atmosphere of "better safe than sorry" as users tested exit queues and liquidity buffers.

Looks like Midas was involved in the $93M loss of Stream earlier today. They claim they are unaffected.

Midas is known for also issuing mXRP on the XRP Ledger.

Word on the street recommends to withdraw. Better safe than sorry approach. pic.twitter.com/oD7XAWsI4t

— Vet 🏴‍☠️ (@Vet_X0) November 4, 2025 Some advised users to withdraw from mHYPER as a precaution, citing potential clawback risks if legal action redistributes losses. Notable XRPL contributor Vet_X0 clarified that Midas’s exposure was limited to xUSD positions held days earlier and that normal redemption processing continues.

As of press time, the mXRP official dashboard shows a total value locked of about $25.55 million, with an advertised 10% annual yield.

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The race to launch an XRP ETF on the U.S market is underway as firms like Bitwise, Franklin Templeton and Canary Capital prepare to launch ETFs in November.

Summary

Major investment firms including Franklin Templeton, Bitwise, and Canary Capital are racing to launch their XRP exchange-traded funds in November after amending SEC filings to bypass potential regulatory delays.
Analysts predict that the debut of U.S. spot XRP ETFs could spark renewed investor optimism and drive short-term price gains, though market caution remains amid bearish technical signals.

Traders are gearing up for the launch of XRP exchange-traded funds on the U.S market as major investment firms move to amend SEC filings in preparation for a November launch. One of the firms that recently updated their S-1 Form is global investment giant Franklin Templeton.

In a recent post on Nov. 5, ETF analyst James Seyffart highlighted Franklin Templeton’s updated S-1, which removed the “8(a)” clause. The rule previously allowed for the SEC to delay the launch of an ETF at its discretion.

“FTI_US files updated XRP ETF s-1 with shortened 8(a) language. Looking to launch this month,” said Seyffart in his latest post.

With this update, it would make the ETF automatically effective for a listed approval after the 20-day waiting period. This means that Franklin Templeton’s XRP (XRP)-backed ETF could still launch on the market even if the SEC remains inactive due to a government shutdown.

According to the global investment management firm’s latest filing, its XRP ETF is expected to launch sometime in mid-November, specifically around November 13.

Though, Franklin Templeton is not the only firm eyeing a November launch. Both Bitwise and Canary Capital have also amended their applications by removing the so-called “delaying amendment” which would make their ETFs automatically poised for a faster launch.

On Oct. 31, journalist Eleanor Terrett predicted that Canary Capital’s spot XRP ETF could be the first to hit the market, with a potential November 13 launch date. However, she also noted that the final decision still depends on Nasdaq’s acceptance of the fund’s Form 8-A registration, which is the last procedural step before trading can officially begin.

If the form gets approved, this means that Canary Capital and Franklin Templeton could be launching their XRP ETFs on the same day or consecutively. Meanwhile, Bitwise’s XRP ETF is scheduled for a later launch, sometime between November 19 to 20.

In total, there are around seven U.S spot XRP-backed ETF application awaited approval, including firms like Grayscale, 21Shares and WisdomTree in line holding updated S-1 forms with the SEC.

Could XRP get a price boost from an XRP ETF launch?
Analysts believe that the launch of an XRP ETF this November could provide a much-needed boost to the XRP token, which is nearing a death-cross pattern.

Historically, the launch of crypto-based ETFs has often acted as a catalyst for institutional adoption, offering investors a regulated and convenient way to gain exposure to digital assets without directly holding them. However, the recent launch of Solana ETFs have proven that the rally could be too brief to hold much weight.

After the launch of Bitwise’s Solana Staking ETF on Oct. 28, SOL briefly jumped past $200. Though, it quickly retracted below the $200 threshold and continued to plummet further down. At the moment, the token has fallen to $157 as it tries to hold up in the $150 zone.

At press time, XRP appears to be consolidating after a recent steep correction that pushed prices toward the $2.10 region. The 30-period moving average sits just above the current price at $2.23, acting as a short-term resistance level. XRP’s inability to sustain momentum above this moving average suggests that bearish pressure remains present in the market.

XRP price could potentially receive a boost from the upcoming launch of XRP ETFs in the U.S market | Source: TradingView
However, the Relative Strength Index has started to recover from oversold territory, currently hovering around 48. This indicates a potential attempt by buyers to regain control if sentiment improves.

If XRP follows the same trajectory, a confirmed ETF listing could push the token above the $2.40 to $2.60 range, where previous support turned into resistance. Sustained buying pressure beyond that level might open the door to $3 or higher.

On the other hand, if the launch of XRP ETFs does not have the intended effect on XRP, the token could revisit the $2.00 psychological support. While the technical setup remains neutral-to-bearish in the short term, the ETF narrative continues to offer the strongest upside potential for a medium-term rebound at the moment.

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

For the first time since July, Bitcoin (CRYPTO: BTC) fell below $100,000 on Tuesday as the crypto sell-off saw $1.7 billion in liquidations in 24 hours.

Ethereum (CRYPTO: ETH) is down nearly 5% over the past 24 hours, bottoming below $3,200 in Tuesday afterhours trading.

Meanwhile, Solana (CRYPTO: SOL) has slipped 20% over the past week.

The Nasdaq Composite turned volatile as investors sold shares of Palantir Technologies Inc. after its earnings, reflecting broader profit-taking in high-valuation growth sectors.

ETF Flows Reveal Rotation Toward SolanaWhile retail traders reduced exposure, institutional money flowed in a different direction. 

Bitwise Asset Management has launched the Bitwise Solana Staking ETF (NYSE:BSOL), pulling in $417 million in total inflows in one week.

"It's the fastest-growing new ETF to launch this year — across all asset classes," said Bitwise’s Chief Investment Officer Matt Hougan on Tuesday on CNBC.

"Investors were clearly hungry for Solana exposure in a simple staking spot ETF," he added.

Hougan noted that BSOL stakes 100% of its underlying Solana holdings, offering yields of about 7%. 

He said the fund's early success underscores institutional appetite for staking-based returns and long-term exposure to blockchain infrastructure plays.

Why Institutions Favor SolanaHougan said Solana benefits from two major trends: the expansion of stablecoin payments and asset tokenization. 

"If both markets grow, Solana stands to win a larger share," he explained. 

The network's recent partnership with Western Union Co. to issue a stablecoin on Solana added to that narrative.

He compared the blockchain's potential to the early Internet boom, calling it "one of the most user-friendly and scalable ecosystems," while acknowledging that Ethereum remains the dominant platform.

Crypto Retail Sentiment Near CapitulationHougan described today's market as "a tale of two markets." Retail traders face leverage unwinds and liquidations, but institutional investors remain constructive. 

"We have to get through this retail flush-out," he said, predicting sentiment could bottom before a rebound into 2026 as professional investors accumulate at lower prices.

He added that Bitwise expects more spot crypto ETFs in coming months, including products tied to XRP (CRYPTO: XRP) and diversified crypto-index funds once regulators finalize approvals.

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After a sharp sell-off Tuesday, crypto markets are stabilizing, though continued dollar strength could extend downside pressure. Nov 5, 2025, 1:00 p.m.

Traders suffer painful week (Getty Images+/Unsplash)

What to know: The average crypto RSI sits at 38, with several tokens like OKB and FLR near 23, suggesting a possible short-term relief rally.Bitcoin and ether must hold $99,000 and $3,100, respectively to avoid triggering further downside.While most altcoins erased recent months' gains, privacy tokens like XMR remain outperformers, up 7% on Wednesday.The crypto market is weary after relentless waves of sell pressure on Tuesday. Several assets have now settled as they begin to establish levels of support, although if the U.S. dollar continues to show strength it could signal a period of prolonged downside.

Bitcoin BTC$102,789.39 rose about 1% since midnight UTC after two days of declines that saw it drop to the lowest price since June at one point. Ether ETH$3,346.57, which slid as much as than 20% over the 48 hours — the steepest drop in three months — added 2%.

STORY CONTINUES BELOW

While the CoinDesk 20 Index, a measure of the biggest cryptocurrencies, is 2.5% lower over 24 hours, that pretty much reflects yesterday's action: It's up 2.2% since midnight UTC and only one constituent, ICP$4.9388, is lower.

The altcoin market is in worse shape than bitcoin, which continues to cling on to the $99,000 level of support.

Several tokens have now retraced their entire rallies from July, suggesting a short-lived "altcoin season" has concluded with focus moving back to BTC and whether it can weather this recent storm.

Derivatives PositioningBy Saksham Diwan

The BTC futures market reflects rising caution. Open interest (OI) has declined to $25.3 billion from $26 billion last week, suggesting traders are reducing leverage. Seen against the higher BTC price year-over-year, the drop indicates that the relative amount of leverage in the market has not kept pace with asset appreciation. The three-month annualized basis is suppressed at 3%-4%, signaling that the basis trade is currently unappealing. Funding rates are mixed but low across major venues (4%-9% annualized), reinforcing a lack of strong trend commitment and overall market caution from the futures side.The bitcoin options market is displaying mixed but volatile signals. Implied volatility (IV) is high across all expiries, pointing to elevated near-term movement expectations. Structurally, the IV term structure shows near-term backwardation (downward slope) before resuming a long-term contango (upward slope). Despite this volatility, the recent trading bias has flipped back to bullish, with the 24-hour put-call volume leaning 58%-42% in favor of calls, indicating active upside preference.The recent price drop was heavily influenced by leveraged unwinds, with $1.7 billion in liquidations over the past 24 hours split 76%-24% in favor of long positions. ETH led the notional losses with $572 million liquidated. Crucially, the average long liquidation volume over the past two days of $1 billion is significantly higher than the seven-day average of $620 million, confirming the amplified impact of forced selling on current price action. Looking ahead, a bounce may face immediate resistance, with a key price level at $102,500 having $124 million in potential liquidations.Token TalkBy Oliver Knight

The altcoin market remains in oversold territory following Tuesday's grueling sell-off that saw several tokens fall to their lowest in months.The average crypto relative strength index (RSI) is at 38/100, with tokens including OKB, SKY and FLR printing figures as low as 23/100. This suggests that while the overall crypto market is leaning bearish, a short-term relief rally may be on the cards.Any suggestion of a bounce would be invalidated if bitcoin BTC$102,789.39 and ether ETH$3,346.57 break below their respective levels of support at $99,000 and $3,100.If further downside in BTC and ETH was to occur, altcoins would fare worse due to a lack of liquidity and skewed levels of leverage. This means altcoin orderbooks simply do not have sufficient buy orders to absorb sell pressure and subsequent liquidations, resulting in dramatic spikes to the downside.Traders will be wondering whether the recent "altcoin season" is officially over with the majority of tokens, with the exception of privacy coins, eroding their rallies from July and August.The privacy coin narrative remains a key driver in the current market, while DCR and ZEC cooled off on Wednesday, XMR rose 7% and the entire sector remains significantly higher over the past month.Más para ti

Inside Zcash: Encrypted Money at Planetary Scale

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A deep dive into Zcash's zero-knowledge architecture, shielded transaction growth, and its path to becoming encrypted Bitcoin at scale.

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In 2025, Zcash evolved from niche privacy tech into a functioning encrypted-money network:

Shielded adoption surged, with 20–25% of circulating ZEC now held in encrypted addresses and 30% of transactions involving the shielded pool.The Zashi wallet made shielded transfers the default, pushing privacy from optional to standard practice.Project Tachyon, led by Sean Bowe, aims to boost throughput to thousands of private transactions per second.Zcash surpassed Monero in market share, becoming the largest privacy-focused cryptocurrency by capitalization.View Full Report

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This Bitcoin Price Pattern Has Emerged 3 Times Since Late 2023, Triggering Corrections

hace 2 horas

Key moving averages remain crucial support levels as long-term investors trim holdings, adding pressure to the ongoing bull market.

Lo que debes saber:

Bitcoin briefly fell to $98,951, testing both the 365-day simple moving average of $102,055 and 365-day exponential moving average ($99,924) that have defined support this cycle.Long-term holders have reduced their supply from 14.7 million BTC in July to 14.4 million BTC, the third major profit-taking phase since late 2023.Leer la noticia completa

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With the Bitcoin price falling below $110,000 and the crash continuing to deepen, some revelations have surfaced about why this is happening at this time. Fingers had initially pointed to the bearish macro headwinds as the crypto market got caught in the crosshairs. However, on-chain data shows that it may be much simpler than that, and the decline is just due to good old dumping. More specifically, mega-Bitcoin whales of old are beginning to sell off their considerable stacks.

OG Bitcoin Whales Sell Over $1.7 Billion Worth Of BTC
A post from the on-chain data aggregation platform, Lookonchain, confirmed that the Bitcoin price decline had indeed been triggered by major sell-offs. The post highlights the movement of massive amounts of bitcoin, ranging in the thousands, into crypto exchanges as these large whales begin to take profit.

The first of these belongs to an early Bitcoin whale, known only as 1011short, who moved their considerable stack of Bitcoin into various crypto exchanges. In total, the whale deposited 13,000 BTC into different crypto exchanges, which was worth a whopping $1.48 billion at the time of the deposit. The deposits went into exchanges such as Binance, Kraken, Coinbase, and Hyperliquid, starting as far back as October 1.

Another popular wallet, tied to early Bitcoin adopter Owen Gunden, also began moving in recent times. Gunden’s wallet saw the movement of 3,265 BTC, worth $364.5 million at the time, also into the Kraken crypto exchange. The movements began on October 21 and have continued into November.

Following the deposits of these massive tranches of BTC into the crypto exchange, the Bitcoin price began to decline, suggesting that the sell-offs had begun. However, there is no telling how long these sell-offs will continue as Gunden still holds over $700 million worth of BTC.

Crash Points To Sell Pressure
The Bitcoin price being in a decline suggests that much of the average $65 billion daily volume recorded by the Coinglass website is actually coming in from sellers. If this continues and large whales continue to offload, it could send the price crashing toward $100,000.

However, with sentiment already so bad and the calls for a Bitcoin price top growing louder, it could mean that the cryptocurrency is headed toward a turning point, one that could change the face of things. A sharp Bitcoin reversal from here could see a shorts wipeout that could trigger a liquidation cascade.

BTC bounces after crashing below $100,000 | Source: BTCUSD on Tradingview.com
Featured image from Dall.E, chart from TradingView.com

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts.
Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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Posted: November 5, 2025

Key Takeaways
Is the Cardano price prediction bearish for November?
The liquidity clues and the importance of the $0.51 support meant that, despite the recent bearish pressure, a short-term price bounce to $0.62 is likely.

What else should Cardano traders expect in the coming weeks?
A flexible mindset would be useful. The current bounce might lose strength at $0.56, or it might see the $0.62 level reclaimed as support, based on the volume of demand and Bitcoin’s price movements.

Cardano [ADA] has faced a tough time in the markets in recent weeks. Since the 3rd of November, Cardano has shed 12.7%, falling from $0.61 to $0.532.

This drop meant that the $0.6 level, which had been developing as support, was lost to the bears.

The price drop evolved after a volatile Monday and a steep Bitcoin [BTC] correction. Despite the whale outflows from Coinbase, which signaled accumulation, the selling pressure was overwhelming.

Analysis noted that whales were unlikely to send ADA into recovery, and so it has played out. What is the next Cardano price prediction?

Cardano price prediction shows volatility and bearishness ahead

Source: ADA/USDT on TradingView

On the weekly chart, the price was back at the base of the swing low from June. Additionally, the rally in November 2024 meant that the higher timeframe swing structure (dotted orange) remained bullish.

A weekly session closing below $0.51 would invalidate the bullish reversal idea.

Source: ADA/USDT on TradingView

The daily timeframe structure (yellow) was bearish. The OBV was near the lows from June-July. The weekly and daily timeframe charts suggest that $0.51 is a last stand for the bulls on the higher timeframe charts.

Losing this level would likely take ADA down to $0.32. The Moving Averages captured the strong downward momentum since early October.

Source: ADA/USDT on TradingView

Now that the $0.51 is established as a high-probability bounce area, how high can the bounce go? The 4-hour chart’s OBV was in a persistent downtrend.

The $0.56 and $0.6 areas, highlighted in red, are the overhead supply zones to watch out for. A price bounce to these levels would likely see the downtrend resume.

Traders should remember that a retest of either resistance level might not immediately see a bearish reaction. There is liquidity at and just above these levels, especially at $0.62. This magnetic zone was dense with short liquidations and could be the next short-term price target.

Therefore, an ADA bounce to $0.62, followed by another bearish move to $0.51 or lower, is likely in November.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Key NotesThe undisclosed lender provided flexible terms with daily renewal and the ability to repay at any time.Metaplanet's Bitcoin holdings are valued at approximately $3.5 billion.The company plans additional Bitcoin purchases.
.
Metaplanet Inc. executed a $100 million loan secured by its Bitcoin holdings, the Tokyo-listed company disclosed Nov. 4. The loan was finalized on Oct. 31 under a credit facility agreement established Oct. 28.

The company holds 30,823 BTC

BTC
$102 377

24h volatility:
1.3%

Market cap:
$2.04 T

Vol. 24h:
$102.71 B

as collateral for the transaction, according to a Nov. 4 notice. The holdings are valued at $3.13B at the time of writing. Bitcoin served as the primary security for the arrangement.

The lender remains undisclosed at the counterparty’s request. The loan features daily automatic renewal and can be repaid at Metaplanet’s discretion without a fixed maturity date. Interest accrues at a reference USD rate plus an undisclosed spread. The borrowing represents the first drawdown from a $500 million credit facility established in late October.

Intended Use of Funds
Metaplanet allocated the $100 million across three purposes:

Additional Bitcoin acquisitions,
Expansion of its Bitcoin Income Generation business,
Potential share repurchases under its program announced Oct. 28.

The income business generates revenue through cash-collateralized Bitcoin options, allowing the firm to collect premiums while maintaining its holdings.

The options strategy delivered 24.4 billion yen ($160 million) in Q3 2025 revenue, representing 3.5x growth from 6.9 billion yen in Q3 2024, according to company disclosures. Metaplanet stated that the premium income can offset risk during market downturns

Metaplanet stated that its $3.5 billion Bitcoin position maintains “sufficient collateral coverage” against the loan amount, even during significant price declines. The borrowing represents approximately 3% of the company’s total Bitcoin holdings by value.

The company emphasized its “conservative financial management policy” and commitment to avoiding excessive leverage. Management stated that the collateral buffer allows the firm to withstand substantial Bitcoin price drops without triggering margin requirements.

Strategic Context
The moves came after the company’s modified net asset value (mNAV) fell below 1.0x in mid-October, with shares declining 70% from their June peak. The mNAV metric divides enterprise value by the value of Bitcoin holdings.

Metaplanet maintains its Bitcoin Treasury Strategy targeting 210,000 BTC by December 2027. The approach mirrors Strategy Inc.’s continued Bitcoin purchases, which recently expanded holdings to 641,205 BTC through equity and debt offerings.

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

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As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.

Zoran Spirkovski on X

DASH price prediction 2025 turns increasingly promising as the privacy-focused cryptocurrency regains momentum amid renewed interest in digital privacy and decentralized finance. After climbing from October's low of $22 to $149, DASH crypto has demonstrated impressive resilience, signaling a potential long-term revival supported by growing adoption and community-driven development.

The king of crypto is pacing nervously just above six figures, licking its wounds after a bruising drop from the $126,000 summit. While the charts show bitcoin trying to steady itself, its indicators are whispering mixed messages — and they aren't all optimistic.

TLDR:

Table of Contents

TLDR:Liquidity Tightens as Treasury Drains the Market“Stealth QE” Could Ignite the Next Bitcoin Bull Run

Arthur Hayes warns Bitcoin faces turbulence as U.S. liquidity tightens before “stealth QE.”
Hayes says Treasury cash hoarding is draining markets until government spending resumes.
He predicts the Fed’s repo facility will quietly expand liquidity in coming months.
“Stealth QE,” Hayes adds, could trigger Bitcoin’s next major bull cycle.

Markets are entering another turbulent phase, and Arthur Hayes believes it’s far from over. The BitMEX co-founder, known for his macro insights, warns that crypto traders should brace for pain before the U.S. quietly reopens the money taps.

In his latest essay, Hayes explains that U.S. liquidity is shrinking as Treasury borrowing absorbs cash from the system. He expects this squeeze to pressure Bitcoin until Washington restarts government spending.

Liquidity Tightens as Treasury Drains the Market
Hayes wrote that the Treasury’s General Account now holds about $150 billion more than its $850 billion target. That excess cash, he says, effectively removes liquidity that would otherwise circulate through markets.

According to Hayes, the ongoing government shutdown and limited fiscal outflows are delaying a liquidity rebound.He cautioned that these conditions will cause volatility and possible false breakouts in Bitcoin’s price.

Hayes urged traders to conserve capital and avoid chasing rallies until the liquidity backdrop improves. He compared the situation to previous market phases when investors mistook short-term weakness for a sustained downturn.

“Stealth QE” Could Ignite the Next Bitcoin Bull Run
Once the government reopens, Hayes expects “stealth QE” to quietly restore liquidity through the Federal Reserve’s Standing Repo Facility (SRF). 

He explained that as Treasury issuance grows, hedge funds financing those purchases will increasingly rely on repo lending from the Fed. That process expands the Fed’s balance sheet, effectively injecting new dollars into the system.

Hayes believes this mechanism, though indirect, will mark the beginning of renewed liquidity inflows. He argues that when the SRF balance rises, BTC typically benefits as dollar liquidity returns to risk assets.

In his view, this hidden form of quantitative easing will set the stage for the next crypto bull market.Hayes concluded that patient investors stand to benefit most once liquidity normalizes. He warned that short-term pessimism could lead traders to miss the early stages of Bitcoin’s next rally.

TLDR

Table of Contents

TLDRFirst Major Bitcoin Treasury SelloffStock Performance Takes a HitBitcoin Market ContextGet 3 Free Stock Ebooks

Sequans Communications sold 970 BTC to pay down $94.5 million in convertible debt, cutting its Bitcoin holdings by 30%
SQNS stock plunged 16.6% to $5.92 following the announcement, now down 89% from its 2025 peak
The sale reduced the company’s debt-to-net-asset-value ratio from 55% to 39%
Sequans dropped from 29th to 33rd on the corporate Bitcoin holdings leaderboard
CEO insists Bitcoin strategy remains intact despite the substantial selloff

Sequans Communications made waves Tuesday by selling 970 Bitcoin to cut its debt load in half. The move sent shares of the IoT chipmaker down 16.6% to $5.92.

JUST IN: 🇫🇷 Sequans becomes the first Bitcoin Treasury Company to officially sell part of its Bitcoin holdings.

The firm announced it had sold 970 BTC in order to redeemed 50% of its convertible debt from its July 7, 2025 offering,

This move reduces Sequans’ total outstanding… pic.twitter.com/cQxHEpo9Sk

— Bitcoin News (@BitcoinNewsCom) November 4, 2025

The Paris-based semiconductor company sold nearly a third of its Bitcoin treasury. This reduced holdings from 3,234 BTC to 2,264 BTC, worth around $232 million at current prices.

Sequans used the proceeds to redeem $94.5 million of its outstanding convertible debt. Total debt now stands at $94.5 million, down from $189 million.

Sequans Communications S.A. (SQNS)
CEO Georges Karam defended the decision in a statement. “Our Bitcoin treasury strategy and our deep conviction in Bitcoin remain unchanged,” he said.

Karam called it a tactical decision based on current market conditions. He claimed the move unlocks shareholder value while strengthening the financial foundation.

First Major Bitcoin Treasury Selloff
The sale marks a turning point for corporate Bitcoin strategies. Sequans becomes the first publicly listed Bitcoin treasury company to offload a substantial portion of its holdings.

Crypto analysts caught wind of the transaction last week. They flagged a wallet transfer of nearly 1,000 BTC to a Coinbase address on October 29.

The sale knocked Sequans down four spots on the Bitcoin Treasuries leaderboard. The company now ranks 33rd among publicly traded firms holding Bitcoin.

Sequans launched its Bitcoin accumulation strategy in June. The company raised $385 million through debt and equity placements to fund the initiative.

The plan aimed to accumulate 100,000 BTC over five years. That goal now seems more distant after selling 30% of existing holdings.

Stock Performance Takes a Hit
SQNS stock has struggled since announcing its Bitcoin strategy. Shares peaked at $53.90 in late June, shortly after unveiling the treasury plan.

The stock is now down 89% from that high. It has fallen 56% since the company began buying Bitcoin.

The debt reduction did improve some financial metrics. Sequans lowered its debt-to-net-asset-value ratio from 55% to 39%.

Management says this provides more flexibility for share buybacks. It also opens doors for potential preferred-share issuance.

Bitcoin Market Context
Bitcoin dropped below $103,000 on Tuesday. The price represents its lowest level in more than four months.

Over 200 publicly traded companies now hold Bitcoin on their balance sheets. Many saw stock rallies after announcing treasury strategies.

However, enthusiasm has cooled for several firms. Analysts question the sustainability of Bitcoin treasury strategies for companies without strong financial positions.

Sequans maintains its remaining 2,264 BTC represents a long-term strategic reserve asset. The company said it will continue developing its treasury strategy while pursuing other growth initiatives.

The convertible debt was originally issued in July when Sequans started accumulating Bitcoin. Reducing this debt removes certain covenant constraints, according to company statements.

Bitcoin traded around $102,500 at the time of the sale.

TLDR

Table of Contents

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

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

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

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

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

— EarningsTime (@Earnings_Time) November 4, 2025

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

TLDR:

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

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

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

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

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

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

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

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

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

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

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

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

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

$BTC So where do we stand after all this?

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

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

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

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

TLDR

Table of Contents

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

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

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

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

— Wu Blockchain (@WuBlockchain) November 5, 2025

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

No ZRX cannot be halved or mined.

Is ZRX a profitable investment?

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

Is ZRX an ERC-20 token?

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

Which is the consensus mechanism used by 0x?

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

How to buy ZRX?

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

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

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

TLDR

Table of Contents

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

TL;DR

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

You may also like:

Crypto Carnage Continues: BTC, ETH, XRP Plunge Further as Liquidations Top $1.1B

XRP Ledger Sees 8.9% Rise in Daily Transactions, NFT Activity Surges in Q3

Ripple’s XRP Banned From Being Used by WazirX to Cover Platform Losses: Here’s Why

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

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

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

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

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

Tags:

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

(Midjourney/Modified by CoinDesk)

What to know: You are viewing Crypto Daybook Americas, your morning briefing on what happened in the crypto markets overnight and what's expected during the coming day. Crypto Daybook Americas will kickstart your morning with comprehensive insights. If you're not already subscribed to the email, click here. You won't want to start your day without it.

By Francisco Rodrigues (All times ET unless indicated otherwise)

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

STORY CONTINUES BELOW

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

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

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

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

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

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

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

Stay alert!

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

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

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

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

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

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

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

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

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

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

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

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

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

STORY CONTINUES BELOW

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

BTC 365 - MA (Glassnode)

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

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

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