Market Signal Briefing

Q3: 2025-11-04 Earnings SummaryEPS of -$0.16 beats by $0.02

 |

Revenue of

$39.53M

(40.78% Y/Y)

beats by $2.46M

Ouster, Inc. (OUST) Q3 2025 Earnings Call November 4, 2025 5:00 PM EST

Company Participants

Chen Geng - Senior VP of Strategic Finance & Treasurer
Charles Pacala - Co-founder, CEO & Director
Kenneth Gianella - Chief Financial Officer

Conference Call Participants

Colin Rusch - Oppenheimer & Co. Inc., Research Division
Anand Balaji - Cantor Fitzgerald & Co., Research Division
Madison de Paola - Rosenblatt Securities Inc., Research Division
Tyler Perry Anderson - Craig-Hallum Capital Group LLC, Research Division
Casey Ryan - WestPark Capital, Inc., Research Division
Timothy Savageaux - Northland Capital Markets, Research Division

Presentation

Operator

Hello, and welcome to Ouster's Third Quarter 2025 Earnings Conference Call. [Operator Instructions] The call today is being recorded, and a replay of the call will be available on the Ouster Investor Relations website an hour after the completion of this call.

And with that, I'd now like to turn the conference over to Chen Geng, Senior Vice President of Strategic Finance and Treasurer. Chen, please go ahead.

Chen Geng
Senior VP of Strategic Finance & Treasurer

Thank you, operator, and good afternoon, everyone. Thank you for joining our third quarter 2025 financial results call. Today on the call, we have Chief Executive Officer Angus Pacala; and Chief Financial Officer Ken Gianella.

As a reminder, after the market closed today, Ouster issued its financial news release, which was also furnished on a Form 8-K and is posted in the Investor Relations section of the Ouster website. Today's conference call will be available for webcast replay in the Investor Relations section of our website. I want to remind everyone that on this call, we will make certain forward-looking statements. These include all statements about our competitive position, anticipated industry trends, our business and strategic priorities, the development and expansion of our products and our revenue guidance for the fourth quarter of 2025. Actual results may differ materially from those contemplated by

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Jushi Holdings Inc. (OTCQX:JUSHF) Q3 2025 Earnings Call November 4, 2025 4:00 PM EST

Company Participants

Trenton Woloveck - Co-Chief Strategy Director
James Cacioppo - Founder, Chairman & CEO
Michelle Mosier - CFO & Chief Accounting Officer

Conference Call Participants

Luke Hannan - Canaccord Genuity Corp., Research Division
Pablo Zuanic - Zuanic & Associates
Frederico Yokota Gomes - ATB Capital Markets Inc., Research Division
Andrew Semple - Ventum Financial Corp., Research Division

Presentation

Operator

"

Trenton Woloveck
Co-Chief Strategy Director

"

James Cacioppo
Founder, Chairman & CEO

"

Michelle Mosier
CFO & Chief Accounting Officer

"

Luke Hannan
Canaccord Genuity Corp., Research Division

" Canaccord Genuity Corp., Research Division

Pablo Zuanic
Zuanic & Associates

" Cantor Fitzgerald

Frederico Yokota Gomes
ATB Capital Markets Inc., Research Division

" ATB Capital Markets Inc., Research Division

Andrew Semple
Ventum Financial Corp., Research Division

" Ventum Financial Corp., Research Division

Operator

Good afternoon. My name is Bailey, and I will be your conference operator today. At this time, I would like to welcome everyone to Jushi Holdings, Inc.'s Third Quarter 2025 Earnings Conference Call. Today's call is being recorded. [Operator Instructions]

I will now turn the call over to Trent Woloveck, Co-Chief Strategy Director. Thank you. Please go ahead.

Trenton Woloveck
Co-Chief Strategy Director

Good afternoon, and thank you for joining us today on Jushi's Third Quarter 2025 Earnings Conference Call. My name is Trent Woloveck, and I am the Co-Chief Strategy Director at Jushi Holdings, Inc. With me on today's call are Jim Cacioppo, our Chairman and Chief Executive Officer; Jon Barack, our President, Chief Revenue Officer and Corporate Secretary; and Michelle Mosier, our Chief Financial Officer. This call is also being broadcasted live over the Internet and can be accessed from the Investor Relations section of the company's website at ir.jushico.com.

In addition to

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Toronto, ON. – TheNewswire - November 4, 2025 — Hill Incorporated, formerly Hill Street Beverage Company Inc. (TSXV: HILL) ("Hill” or the "Company"), announces today that the Ontario Securities Commission has issued a failure to file cease trade order ("FFCTO") prohibiting the trading by any person of any securities of the Company in Canada, including trades in the Company's common shares made through the TSX Venture Exchange ("TSXV").

The FFCTO was issued because of the delay in the filing of the Company's annual audited financial statements for the year ended June 30, 2025, the related Management's Discussion and Analysis for the period ended June 30, 2025, and CEO and CFO certifications (collectively, the "Annual Filings") which were due on October 28, 2025 under applicable securities laws.

The delay in filing was due to cash collection issues faced by the Company that have caused financial constraints and delays in committing amounts owing to its auditors to complete the FY 2025 audited annual financial statements.

The FFCTO prohibits the trading by any person of any securities of the Company in each jurisdiction in Canada in which the Company is a reporting issuer, including trades in the Company's common shares made through the TSX Venture Exchange (which imposed a halt of trading of the Company's common shares on November 3, 2025), for as long as the FFCTO remains in effect; however, the FFCTO provides an exception for beneficial securityholders of the Company who are not (and were not when the FFCTO was issued) insiders or control persons of the Company and who sell securities of the Company acquired before the date the FFCTO was issued if both of the following criteria are met: (i) the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Canadian Investment Regulatory Organization and (ii) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.

The Company will provide further updates as more information becomes available or when required by applicable securities laws. There is no assurance that the Company will be able to remedy its filing default and have the FFCTO lifted in a timely manner or at all.

About Hill Incorporated (TSXV: HILL)

Hill Incorporated is a progressive bioscience implementation company that is dedicated to building pathways to better and healthier living by leveraging our deep CPG expertise to commercialize leading-edge technologies to craft superior cannabis solutions and non-alcoholic beverage products globally. Our Hill Avenue Cannabis business unit is pioneering the space where craft consumer products meet bioscience by combining our deep CPG commercialization expertise with our rights to use Lexaria Bioscience Corp’s ground-breaking DehydraTECH patent portfolio for product development, licensing and B2B and B2C sales of cannabis ingredients or products on a global scale. Our Hill Street Beverages business unit represents the Company’s legacy alcohol-free consumer beverage marketing and distribution business.

For more information, contact: 

Craig Binkley, Chief Executive Officer 

Email: [email protected] 

Phone: 604-609-6154 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  

CSL Limited (OTCQX:CSLLY) Analyst/Investor Day November 4, 2025 6:00 PM EST

Company Participants

Fiona Mead - Company Secretary & Head of Corporate Governance
Paul McKenzie - MD, CEO & Executive Director
Dave Ross - Senior VP & GM of Seqirus

Presentation

Fiona Mead
Company Secretary & Head of Corporate Governance

Hello. I'm Fiona Mead, CSL's Company Secretary. Thank you for joining us for the first session of CSL's 2025 Capital Markets event. Our presentation tonight will start with some remarks from CSL's CEO and Managing Director, Dr. Paul McKenzie, and you will then hear from the General Manager of CSL Seqirus, Mr. Dave Ross.

Before we get started, I draw your attention to the legal disclaimer, which you can see on the screen now. It's now my great pleasure to introduce our CEO, Dr. Paul McKenzie.

Paul McKenzie
MD, CEO & Executive Director

Thank you, Fiona. Good evening, everyone, and good morning to those online. It's great to see everyone here in the beautiful city of Chicago. [ I ran into a pole on the elevator ]. I was surprised how great the weather is here. But I know many of you traveled a long distance and to be with us here today, and we certainly appreciate that, and we want to acknowledge that because we know that journey is particularly a long one. We look forward to the opportunity to bring you closer to the CSL journey and our leadership team that I have here with me during the meeting as we explain our plans for the future.

I thought I would just take a minute to talk about where we're sitting, the hotel that we're at. It dates back to the 1920s. And actually, the hotel was built at the same time as a children's hospital. The Children's Hospital is called Shriners Children's Hospital, which has

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Lucky Strike Entertainment Corporation (LUCK) Q1 2026 Earnings Call November 4, 2025 5:00 PM EST

Company Participants

Robert Lavan - CFO, Treasurer & Principal Accounting Officer
Thomas Shannon - Founder, Chairman & CEO
Lev Ekster - President

Conference Call Participants

Matthew Boss - JPMorgan Chase & Co, Research Division
Steven Wieczynski - Stifel, Nicolaus & Company, Incorporated, Research Division
Randal Konik - Jefferies LLC, Research Division
Jason Tilchen - Canaccord Genuity Corp., Research Division
Jeremy Hamblin - Craig-Hallum Capital Group LLC, Research Division
Michael Kupinski - NOBLE Capital Markets, Inc., Research Division
Eric Walt

Presentation

Operator

"

Robert Lavan
CFO, Treasurer & Principal Accounting Officer

"

Thomas Shannon
Founder, Chairman & CEO

"

Lev Ekster
President

"

Matthew Boss
JPMorgan Chase & Co, Research Division

" JPMorgan Chase & Co, Research Division

Steven Wieczynski
Stifel, Nicolaus & Company, Incorporated, Research Division

" Stifel, Nicolaus & Company, Incorporated, Research Division

Randal Konik
Jefferies LLC, Research Division

" Jefferies LLC, Research Division

Jason Tilchen
Canaccord Genuity Corp., Research Division

" Canaccord Genuity Corp., Research Division

Jeremy Hamblin
Craig-Hallum Capital Group LLC, Research Division

" Craig-Hallum Capital Group LLC, Research Division

Michael Kupinski
NOBLE Capital Markets, Inc., Research Division

" NOBLE Capital Markets, Inc., Research Division

Eric Walt

"

Operator

Thank you for standing by. My name is Liz, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Lucky Strike Entertainment First Quarter 2026 Earnings Conference Call. [Operator Instructions]

I would now like to turn the call over to Bobby Lavan, Chief Financial Officer. Please go ahead.

Robert Lavan
CFO, Treasurer & Principal Accounting Officer

Good afternoon to everyone on the call. This is Bobby Lavan, Lucky Strike's Chief Financial Officer. Welcome to our conference call to discuss Lucky Strike's First quarter 2026 earnings. Today, we issued a press release announcing our financial

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Q3: 2025-11-04 Earnings SummaryEPS of -$0.13 beats by $0.06

 |

Revenue of

$44.23M

(-21.94% Y/Y)

beats by $3.02M

Cryoport, Inc. (CYRX) Q3 2025 Earnings Call November 4, 2025 5:00 PM EST

Company Participants

Jerrell Shelton - Chairman, President & CEO
Robert Stefanovich - Senior VP, CFO, Treasurer & Chief Administrative Officer
Mark W. Sawicki - Senior VP & Chief Scientific Officer
Thomas Heinzen - Vice President of Corporate Development & Investor Relations

Conference Call Participants

Todd Fromer - Kanan, Corbin, Schupak & Aronow, Inc.
Kyle Crews - UBS Investment Bank, Research Division
David Saxon - Needham & Company, LLC, Research Division
Puneet Souda - Leerink Partners LLC, Research Division
Matthew Stanton - Jefferies LLC, Research Division
Subhalaxmi Nambi - Guggenheim Securities, LLC, Research Division
David Larsen - BTIG, LLC, Research Division
Mason Carrico - Stephens Inc., Research Division

Presentation

Operator

"

Jerrell Shelton
Chairman, President & CEO

"

Robert Stefanovich
Senior VP, CFO, Treasurer & Chief Administrative Officer

"

Mark W. Sawicki
Senior VP & Chief Scientific Officer

"

Thomas Heinzen
Vice President of Corporate Development & Investor Relations

"

Todd Fromer
Kanan, Corbin, Schupak & Aronow, Inc.

" Kanan, Corbin, Schupak & Aronow

Kyle Crews
UBS Investment Bank, Research Division

" UBS Investment Bank, Research Division

David Saxon
Needham & Company, LLC, Research Division

" Needham & Company, LLC, Research Division

Puneet Souda
Leerink Partners LLC, Research Division

" Leerink Partners LLC, Research Division

Matthew Stanton
Jefferies LLC, Research Division

" Jefferies LLC, Research Division

Subhalaxmi Nambi
Guggenheim Securities, LLC, Research Division

" Guggenheim Securities, LLC, Research Division

David Larsen
BTIG, LLC, Research Division

" BTIG, LLC, Research Division

Mason Carrico
Stephens Inc., Research Division

" Stephens Inc., Research Division

Operator

Good afternoon, and welcome to Cryoport's Third Quarter 2025 Earnings Conference Call. [Operator Instructions].

As a reminder, this call is being recorded.

I will now turn the call over to your host, Todd Fromer from KCSA Strategic Communications. Please go ahead.

Todd

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Q3: 2025-11-04 Earnings SummaryEPS of $0.12 misses by $0.01

 |

Revenue of

$292.24M

(19.86% Y/Y)

beats by $288.38K

CAVA Group, Inc. (CAVA) Q3 2025 Earnings Call November 4, 2025 5:00 PM EST

Company Participants

Matt Milanovich - Senior Vice President of Finance
Brett Schulman - Co-Founder, CEO, President & Director
Tricia Tolivar - Chief Financial Officer

Conference Call Participants

Andrew Barish - Jefferies LLC, Research Division
Brian Mullan - Piper Sandler & Co., Research Division
David Tarantino - Robert W. Baird & Co. Incorporated, Research Division
Eric Gonzalez - KeyBanc Capital Markets Inc., Research Division
Andrew Charles - TD Cowen, Research Division
Sharon Zackfia - William Blair & Company L.L.C., Research Division
Jacob Aiken-Phillips - Melius Research LLC
John Ivankoe - JPMorgan Chase & Co, Research Division
Christopher O'Cull - Stifel, Nicolaus & Company, Incorporated, Research Division
Sara Senatore - BofA Securities, Research Division
Danilo Gargiulo - Sanford C. Bernstein & Co., LLC., Research Division
Dennis Geiger - UBS Investment Bank, Research Division
Jeffrey Bernstein - Barclays Bank PLC, Research Division
Jon Tower - Citigroup Inc., Research Division
Brian Harbour - Morgan Stanley, Research Division
Logan Reich - RBC Capital Markets, Research Division
Nick Setyan
Brian Vaccaro - Raymond James & Associates, Inc., Research Division

Presentation

Operator

Good afternoon, ladies and gentlemen, and welcome to the CAVA Q3 2025 Earnings Call. [Operator Instructions] This call is being recorded on Tuesday, November 4, 2025. I would now like to turn the conference over to Matt Milanovich, Head of Investor Relations. Please go ahead.

Matt Milanovich
Senior Vice President of Finance

Good afternoon, and welcome to CAVA's Third Quarter 2025 Financial Results Conference Call. Before we begin, if you do not already have a copy, the earnings release and related 8-K furnished to the SEC are available on our website at investor.cava.com. The purpose of this conference call is to give investors further details regarding the company's financial results as well as a general update on the company's progress. You will find reconciliations between non-GAAP financial measures discussed on today's call to the

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Shares of Japan's SoftBank Group plummeted more than 14% on Wednesday, erasing approximately $32 billion in market value in a brutal session that saw a broad sell-off across Asia's artificial intelligence-linked stocks.

New PSAs for Skills-First Hiring campaign highlight the competitive advantage of hiring STARs - workers Skilled Through Alternative Routes 

, /PRNewswire/ -- Building on the measurable success of the first "Tear the Paper Ceiling" launch in 2022, the Ad Council and Opportunity@Work today unveiled new public service advertisements (PSAs), titled "Story Unfold," encouraging employers to embrace skills-first hiring practices and access overlooked talent.

Research from LinkedIn shows that hiring managers who start with skills are 60% more likely to find a successful hire. Yet, in the United States, more than 70 million STARs -- workers Skilled Through Alternative Routes, such as apprenticeships, certifications, on-the-job training, and more -- are too often disqualified for employment because they don't have a bachelor's degree. After decades of declining opportunity, the trajectory for STARs is starting to reverse on the heels of the launch of "Tear the Paper Ceiling" in 2022.

"We launched the Tear the Paper Ceiling campaign to shine a light on the 50% of U.S. workers who are STARs and show that if you don't have a STARs talent strategy - you only have half a talent strategy," said Opportunity@Work CEO Byron Auguste. "This campaign and its corporate, philanthropic, and public sector partners are proving what's possible when awareness and behavior change together. Job postings are measurably more open to STARs than in the early 2000s. Skills-first hiring isn't a theory—it's starting to work where and when it is fully embraced. Smart employers are tapping into STARs' talent, and winning."

The new PSAs encourage employers not to "throw away talent" by devaluing or disregarding the skills and abilities earned outside of a bachelor's degree. Viewers are directed to TearThePaperCeiling.org, where they can find tools and resources to take action. STARs can share their stories publicly and find career development resources, while employers will find playbooks and guides for getting started with skills-first hiring practices, along with case studies from organizations already hiring STARs.

WATCH THE PSA

"When we introduced the idea of the 'paper ceiling' as that invisible barrier that separates companies from skilled workers who don't have a bachelor's degree, we changed the national conversation around hiring STARs," said Michelle Hillman, the Ad Council's Chief Development Officer. "With our fantastic partners, we're excited to continue the momentum by speaking directly to employers and inspiring them to hire skills-first and help their organizations find a competitive advantage."

Created pro bono by world-renowned creative agency Ogilvy, and directed by filmmaker Loris Russier, a STAR himself, alongside production company PRETTYBIRD, the new PSAs speak directly to employers, urging them to look beyond the paper and discover how skills-first hiring can help them find the perfect hire. Using the metaphor of a crumpled paper that slowly unfurls to reveal a STAR's face, the "Story Unfold" PSAs encourage viewers to look holistically at their applicants, unfolding their story, to see their skills and experience that others might miss. STARs were involved in the production on both sides of the camera.

"Being a self-taught filmmaker and editor, I know the stigma and misinformation many STARs like me face when trying to land a job," said director Loris Russier. "But I also know that my work and skills speak for themselves, and I'm excited to use those skills to bring this story to life and help STARs everywhere get the opportunities they deserve."

"When hiring managers cling to outdated biases and rigid checklists, they filter out the raw talent their businesses truly need. Countless candidates are discarded on paper, yet brimming with real-world skills," said Hernan Ibanez, Head of Art, Ogilvy New York. "Our idea is a metaphorical, poetic response that addresses this problem from the very start. As it unfolds, it reveals a simple truth: the solution has been in front of them all along. They just need to open their eyes—and unfold it."

The "paper ceiling" was coined by the Ad Council, Opportunity@Work, and Ogilvy to describe the invisible barrier that comes at every turn for workers without a bachelor's degree. "Tear the Paper Ceiling" quickly became a rallying cry within the American workforce, media and culture since it debuted three years ago.

The term "paper ceiling" has since been widely adopted throughout industries, being referenced by political leaders on both sides of the aisle and in leading business publications (including Bloomberg, Fortune, the Harvard Business Review, and The New York Times). So far, 31 states have pledged to remove degree requirements for state employment, and the skills-first hiring movement has inspired over 1 million commitments to open jobs to STARs, hundreds of thousands of which have already been made real.

The campaign has grown to be supported by a coalition of 85 national private sector and nonprofit organizations – and companies in the coalition are creating meaningfully greater opportunities for STARs. Since the launch of the campaign, over 76,000 STARs within public and private sector organizations that partner with Opportunity@Work have experienced upward mobility, resulting in a $17,000 median wage gain.

To date, "Tear the Paper Ceiling" PSAs have received over $120 million in donated media and have driven nearly six million visits to the campaign website. This year's campaign will be supported by Spark Foundry, the media agency of record, and in media by Indeed, Kargo, LinkedIn, and Walmart, among others. PSAs will appear in donated media nationwide in TV, radio, digital, out of home, print and social-optimized video formats. For more information, visit TearThePaperCeiling.org.

About the Ad Council
The Ad Council convenes creative storytellers to educate, unite and uplift audiences by opening hearts, inspiring action and accelerating change. For more than 80 years, the nonprofit organization and its partners in advertising, media, marketing and tech have been behind some of the country's most iconic social impact campaigns – Smokey Bear, Friends Don't Let Friends Drive Drunk, Tear the Paper Ceiling and many more. To learn more or get involved, visit AdCouncil.org, join the Ad Council's communities on Facebook, Instagram and LinkedIn, and view campaign creative on YouTube.

About Opportunity@Work
Opportunity@Work is a 501(c)3 nonprofit social enterprise on a mission to rewire the labor market so all Americans can work, learn, and earn to their full potential. Our work advances economic opportunities for the more than 70 million U.S. workers who are Skilled Through Alternative Routes (STARs) instead of through a bachelor's degree. Opportunity@Work engages with corporate, public sector, and philanthropic partners through landmark research and labor market data analysis, public awareness and narrative change, STARs-centric software tools, and multi-sector networks. The Tear the Paper Ceiling campaign, in partnership with the Ad Council and a growing coalition of more than 80 business and nonprofit leaders, raises awareness of STARs and the paper ceiling, and motivates organizations to adopt skills-first hiring practices. Learn more at www.opportunityatwork.org.

About Ogilvy
Ogilvy has been creating impact for brands through iconic, culture-changing, value-driving ideas since the company was founded by David Ogilvy 75 years ago. It builds on that rich legacy through Borderless Creativity – innovating at the intersections of its advertising, public relations, relationship design, consulting, and health capabilities with experts collaborating seamlessly across more than 120 offices spanning 90 countries. Ogilvy currently ranks as the #1 global agency network for creative excellence and effectiveness by WARC, signifying its ability to deliver creative solutions that drive unreasonable impact for clients and communities. Ogilvy is a WPP company (NYSE: WPP). For more information, visit Ogilvy.com, and follow us on LinkedIn, X, Instagram, and Facebook. 

SOURCE The Ad Council

Q2: 2025-11-04 Earnings SummaryEPS of $0.09 beats by $0.02

 |

Revenue of

$184.10M

(1.71% Y/Y)

beats by $5.94M

8x8, Inc. (EGHT) Q2 2026 Earnings Call November 4, 2025 5:00 PM EST

Company Participants

Kate Patterson
Samuel Wilson - CEO & Director
Kevin Kraus - Chief Financial Officer

Conference Call Participants

Michael Funk - BofA Securities, Research Division
Josh Nichols - B. Riley Securities, Inc., Research Division
Peter Levine - Evercore ISI Institutional Equities, Research Division
Catharine Trebnick - Rosenblatt Securities Inc., Research Division

Presentation

Operator

"

Kate Patterson

"

Samuel Wilson
CEO & Director

"

Kevin Kraus
Chief Financial Officer

"

Michael Funk
BofA Securities, Research Division

" BofA Securities

Josh Nichols
B. Riley Securities, Inc., Research Division

" B. Riley Securities

Peter Levine
Evercore ISI Institutional Equities, Research Division

" Evercore ISI

Catharine Trebnick
Rosenblatt Securities Inc., Research Division

" Rosenblatt Securities Inc.

Unknown Analyst

"

Operator

Good day, and thank you for standing by. Welcome to the 8x8 Inc. Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please be advised today's conference is being recorded. I would now like to hand the conference over to your speaker today, Kate Patterson, Vice President of Finance. Please go ahead.

Kate Patterson

Thank you, operator, and good afternoon, everyone. Today's agenda will include a review of our results for the second quarter of fiscal 2026 with Samuel Wilson, our Chief Executive Officer; and Kevin Kraus, our Chief Financial Officer. Following our prepared remarks, there will be a question-and-answer session. Before we get started, let me remind you that our discussion today includes forward-looking statements about our future financial performance, including investments in innovation and our focus on profitability and cash flow, as well as statements regarding our business, products and growth strategies. We caution you not to put undue reliance on these forward-looking statements as they involve risks and uncertainties that may cause actual results to vary materially from forward-looking statements as described in our risk factors in our reports filed with the

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Bitcoin fell to its lowest in over four months today.

getty

Bitcoin prices dropped below the key, psychological level of $100,000 on Tuesday, November 4, reaching their lowest since June as the market struggled with fatigue.

“The best explanation for BTC’s recent drop is simply exhaustion,” Tim Enneking, managing partner of Psalion, via email. “There has not been any bad news, but the market is a bit tired.”

He made this statement on a day when the world’s most prominent digital currency fell to roughly $99,000, according to Coinbase data from TradingView. At this point, it was trading at its most depressed value since approximately June 22.

Enneking shed further light on the situation, emphasizing that crypto markets are facing multiple challenges.

“Caution because of interest rates in the US, on-going concerns related to the US-declared trade war on seemingly the entire rest of the world, doubts that the tradfi equities markets can continue to set, or even hold on to, the new records we’ve seen this year, and, treasury companies selling a bit of their inventory to cover operating and debt costs all have created head winds.”

Julio Moreno, head of research for CryptoQuant, also outlined multiple challenges the markets are facing.

When asked to describe what caused the latest drop in prices, he stated via Telegram that “It seems like a follow up correction as the fundamentals remain weak after October’s big liquidation event.”

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For starters, spot demand for bitcoin has continued to decline, he emphasized.

The chart below, from CryptoQuant, illustrates this development:

Bitcoin spot demand

CryptoQuant

He also focused in on changes in the world’s largest economy, specifying that “In the US, investors have also lowered their demand for Bitcoin, as seen in negative ETF flows and the negative Coinbase price premium.”

The two charts below depict this:

Bitcoin ETF holdings

CryptoQuant

Bitcoin's so-called Coinbase premium

CryptoQuant

Market Stability Other analysts focused on the market obtaining a greater sense of stability after some of the notable losses it experienced in recent weeks.

Brian Huang, cofounder of fintech firm Glider, commented on such matters, stating via email that “We’re now seeing the market stabilize after the chaos of last week.”

“What’s most interesting isn’t the liquidations themselves but how capital has repositioned,” he added. “We can see that stablecoins are waging on and dominating the market as investors are chasing yield and safety, however, on-chain activity is already showing signs of quiet accumulation.”

“If Bitcoin can sustain momentum above key levels, this pullback may be remembered as a recalibration, rather than a collapse,” concluded Huang.

DeFi Protocol Hacks Huang also spoke to the repeated compromises that DeFi protocols have suffered lately. Recently, DeFi protocol Balancer experienced an exploit that resulted in the loss of more than $100 million’ worth of funds.

Marcos Viriato, Cofounder & CEO of Parfin, emphasized the key role that this development played in the markets, stating that “From my perspective, the Balancer hack hit at a tough moment.”

“Ethereum was already down about 7–8%, and with liquidity still thin, even small sell pressure caused bigger moves across the market,” he continued. “A lot of people are still shaken from the Black Friday crash a few weeks ago, and confidence hasn’t fully returned.”

“This exploit just added to those concerns — it reminded everyone how fragile security can be in DeFi, and that uncertainty pushed some investors to pull back capital,” said Viriato.

Huang spoke to the impact these incidents are having on the markets, stating that “Confidence in DeFi remains fragile.”

“Repeated protocol breaches have exposed weak points across lending markets, which will likely accelerate the migration toward better-audited infrastructure,” he noted. “The next few weeks will show whether builders can restore trust or if capital will stay parked off-chain.”

Dogecoin Falls 5% as Lower-Lows Pattern Aids Bearish OutlookUpdated Nov 5, 2025, 3:29 a.m. Published Nov 5, 2025, 3:29 a.m.

(CoinDesk Data)

What to know: Dogecoin fell 5% to $0.16, breaking critical support levels amid heavy institutional selling.Dogecoin tumbled through major support zones on Tuesday, with heavy whale distribution and surging volume confirming institutional-led selling pressure as traders struggled to defend the $0.16 handle.

News BackgroundDOGE fell 5% to $0.16, breaking below critical support after an early-session failure to hold the $0.18 psychological level. The token traded within a volatile $0.0185 range, with selling pressure intensifying throughout the day.The steepest declines hit at 20:00 GMT, when trading volume spiked to 2.05 billion tokens — 94% above the daily average — as price sliced through the $0.1590 floor. The move reflected broad institutional distribution, corroborated by on-chain data showing $440 million in DOGE outflows from large-holder wallets.DOGE reached a session low of $0.1528 before stabilizing near $0.1550, where dip-buying emerged. Recovery attempts were capped at $0.1700, confirming resistance near prior support zones.Price Action SummaryA sharp V-shaped rebound appeared on short-term charts following the breakdown. However, the bounce failed to sustain momentum, with price consolidating below $0.1620 as overhead resistance from the breakdown level held firm.The late-session stabilization indicated temporary exhaustion among sellers but did not yet signal trend reversal. Volume skew remained bearish, with selling activity still dominating aggregate flow data across major exchanges.Technical AnalysisDOGE continues to trade in a lower-highs, lower-lows formation, maintaining clear bearish momentum within a broader descending structure. The brief oversold rebound remains corrective rather than directional, with the overall pattern resembling a classic breakdown–pause sequence typical of distribution cycles.Momentum oscillators remain negative across hourly timeframes, while the daily RSI has yet to recover from sub-40 levels. Traders note that structural improvement would require sustained closes above $0.1650, invalidating the existing descending pattern.What Traders Should KnowTraders are closely watching the $0.1550–$0.1555 area, which continues to act as short-term support. A breakdown below this zone would expose $0.1520–$0.1500, where deeper liquidity pools exist from prior accumulation phases.Conversely, recovery above $0.1630–$0.1650 is necessary to challenge the broken $0.1590 resistance and signal potential short-term relief. For now, intraday action suggests ongoing distribution with limited momentum for sustainable upside follow-through.More For You

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.

What to know:

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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XRP Slides 6% as Bearish Bitcoin Sentiment Weighs Down Ripple-Linked Token

29 minutes ago

Traders are monitoring the $2.08 support level to prevent further declines toward $2.00.

What to know:

XRP fell 6.4% to $2.20 amid heavy institutional selling, breaking key support levels.Trading volume surged 126% above average, indicating institutional participation in the selloff.Traders are monitoring the $2.08 support level to prevent further declines toward $2.00.Read full story

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Berachain Foundation has confirmed the recovery of $12.8 million lost during the Nov. 3 Balancer V2 exploit.

Summary

Berachain recovered the full $12.8M lost in the Balancer exploit after halting and restarting its network.
The recovery was achieved through a white-hat collaboration, with redistribution plans for affected users.
The Balancer hack caused $128M in cross-chain losses, raising fresh concerns about DeFi composability and audit limitations.

The recovery marks a rare case of full restitution following one of 2025’s largest decentralized finance hacks.

In a late Nov. 4 update on X, the Berachain Foundation announced that all funds drained from its BEX pools had been returned to the foundation’s deployer wallet. 

Swift action restores Berachain operations
The recovery was coordinated with a white-hat hacker who cooperated to return the assets following the chain’s emergency restart. The foundation said it will consider a bounty in appreciation and has begun unpausing key network functions such as HONEY minting and redemption.

We are happy to confirm that all funds (approx $12.8m) from the BEX / Balancer v2 exploit have been returned to the Berachain Foundation Deployer (https://t.co/HjCONAGpOZ). Chain is live.

We'd like to thank the white hat who worked with us to make this happen – we'll ensure that…

— Berachain Foundation 🐻⛓ (@berachain) November 4, 2025

Berachain (BERA) temporarily halted all swaps, deposits, and withdrawals after the exploit to prevent further losses, citing caution as the underlying Balancer vulnerability was still under review. Over 1,000 affected users will receive recovered funds through a redistribution system that matches deposits to original wallet addresses.

Apart from Berachain, liquid staking platform StakeWise has also managed to recover about $20 million in stolen assets.

Background on the Balancer exploit
The Balancer exploit on Nov. 3 targeted the protocol’s V2 Composable Stable Pools, exploiting a precision error in the “manageUserBalance” function to drain around $128 million in assets across multiple chains — including Ethereum, Arbitrum, Base, Optimism, Polygon, Sonic, and Berachain. 

More than half of the stolen funds were quickly converted to ETH. Balancer entered recovery mode and offered a 20% white-hat bounty worth $25.6 million, urging the attacker to return funds within 48 hours. Despite nine audits on its vault system, the incident reignited debates around the security limits of composable DeFi architectures.

Berachain, a Cosmos-based Layer-1 network with proof-of-liquidity consensus, was affected through its Balancer fork, BEX. Its validators halted the chain within hours and issued an emergency hard fork to freeze the attacker’s assets, later recovering the full amount after negotiations with the MEV operator behind the exploit.

Following the incident, the BERA token saw a 10% decline, but it recovered after the recovery announcement, showing renewed confidence in the project’s resilience.

Journalist

Posted: November 5, 2025

Key Takeaways
What are the key terms of the notes?
The notes carry 8% annual interest, reducing to 5% after a NASDAQ or NYSE uplisting, and are secured by Bitcoin collateral.

What are Matador’s Bitcoin targets?
The company aims to acquire 1,000 BTC by 2026 and 6,000 BTC by 2027, ultimately holding about 1% of Bitcoin’s total supply.

In a significant turn of events, Matador Technologies Inc. has announced an amended $100 million secured convertible note facility with ATW Partners. The new agreement, finalized on the 3rd of November, updates the terms of their previous July 2025 deal.

This will give Matador, known as “the Bitcoin Ecosystem Company”, greater flexibility to issue convertible notes and strengthen its capital position.

Wall Street’s new Bitcoin whale
Under the amended facility, Matador Technologies plans to use the funds exclusively to purchase Bitcoin [BTC] for its corporate balance sheet. 

The initial tranche of funding is set at $10.5 million. Additionally, there is a potential for $89.5 million through follow-on drawdowns, which are contingent on regulatory approvals.

In terms of financing requirements, ATW Partners may ask Matador to issue up to $46.25 million in notes before an uplisting. After the uplisting, another $28.75 million may be required.

In total, this brings the potential note issuance to $75 million.

To further align the interests of both parties, Matador will pay a 5% commitment fee on all notes issued. This arrangement supports the company’s efforts as it seeks to expand its Bitcoin holdings and pursue its long-term strategy.

With this approach, Matador Technologies plans to acquire 1,000 BTC by 2026. It wants to expand the same to 6,000 BTC by 2027 to own about 1% of Bitcoin’s total supply.

Matador Technologies execs weigh in
Remarking on the same, Deven Soni, CEO of Matador Technologies, stated, 

“This financing marks a significant step toward our long-term Bitcoin accumulation plan. It equips the Company with capital to expand our Bitcoin position while limiting near-term dilution and staying aligned with our overall capital strategy.”

Echoing similar sentiments, Mark Moss, Chief Visionary Officer of Matador Technologies, added, 

“Bitcoin remains foundational to both our operating model and treasury approach. This structure advances our goal of increasing Bitcoin per share and underscores sustained institutional interest in our strategy.”

S&P rating, stock price, and more
This coincided with Strategy Inc. securing a B- issuer credit rating from S&P in Q3 2025. Meanwhile, Matador Technologies achieved a BB issuer rating in August 2025, reflecting its strengthening financial profile.

Then on the price front, Matador’s stock traded at $39.26, down 0.51%, according to Google Finance. Bitcoin hovered at $103,910.91, marking a 3.03% daily decline, per CoinMarketCap.

Yet, despite Bitcoin’s short-term dip near $107,000, accumulation remained strong within the $106K–$115K range.

On-chain data shows signs of an altcoin winter may be emerging as Ethereum, Solana, and other cryptocurrencies have seen a decline in activity.

Altcoins Are Observing A Drop In On-Chain Activity
In a new thread on X, institutional DeFi solutions provider Sentora (formerly IntoTheBlock) has talked about how interest in altcoins has been cooling off recently.

The on-chain indicator of relevance here is the “Active Addresses,” which measures, as its name suggests, the total number of addresses that are participating in some kind of transaction activity on a given network every day.

When the value of this metric rises, it means more users are making transfers on the blockchain. Such a trend implies trading interest in the cryptocurrency may be on the rise.

On the other hand, the indicator witnessing a decline suggests investors may be shifting their attention elsewhere as they are reducing their transaction activity on the network.

Now, here is a chart that shows the trend in this indicator for Ethereum, the largest of the altcoins, over the last few years:

The value of the metric seems to have been going down in recent days | Source: Sentora on X
As displayed in the above graph, the Ethereum Active Addresses metric was at a high of 589,000 in late July. Since then, activity on the network has gone downhill, with there now being 488,000 addresses making transactions, around 17% lower than the peak.

“Fewer users interacting on ETH indicates weaker on-chain demand, a pattern seen in past bear-market phases,” explained Sentora. Solana, another prominent altcoin, has been showing a similar trend.

How the monthly value of the Active Addresses has changed for SOL over the last few years | Source: Sentora on X
From the chart, it’s clear that the monthly version of the Active Addresses witnessed a notable decline for SOL during Q3 2025. More specifically, active users on the blockchain dropped by about 30% in this period. “Solana has been the out-performer this cycle, but momentum is cooling,” noted the analytics firm.

Memecoins have been hit hard in the recent market downturn, and the same has held true for their on-chain activity. Dogecoin, the largest meme-based token, has only witnessed a slight decrease in Active Addresses, but Pepe has gone through a drawdown of 85%. “This drop shows how quickly speculative user bases can evaporate,” said Sentora.

Finally, the analytics firm has also highlighted that DeFi trading volume has started to trend down as well. The metric is still relatively strong compared to other cryptocurrency-related indicators, but a change in direction is apparent.

The trend in the DeFi trading volume since 2018 | Source: Sentora on X
With the crash in prices and downturn in on-chain activity, is the altcoin sector entering a season of winter? “It’s too early to tell but the current data echoes past cycles,” noted Sentora. “We are already 6+ months into an altcoin slowdown, with winter signs popping up.”

Ethereum Price
Ethereum has plunged alongside the rest of the market during the past day as its price has retraced to $3,300.

Looks like the price of the altcoin has crashed over the last couple of days | Source: ETHUSDT on TradingView
Featured image from Dall-E, chart from TradingView.com

Capital markets commentator The Kobeissi Letter declared Tuesday that Bitcoin (CRYPTO: BTC) has entered a bear market, marking a 20% decline from its recent record high.

Most Exciting Market?In an X post, Kobeissi Letter stated, “Bitcoin officially enters bear market territory, now down -20% since its record high seen on October 6th.”

Interestingly, it followed the statement by saying that this is the “most exciting” market in history.

See Also: Bitcoin (BTC) Price Predictions: 2025, 2026, 2030

BTC Sinks Below $100,000The remark comes in the wake of Bitcoin’s crash below $100,000, as the apex cryptocurrency plunged to levels not seen in six months.

“Extreme Fear” engulfed the market, according to the Crypto Fear & Greed Index, a sign that investors are too worried.

Andrew Lokenauth, a widely followed financial analyst, echoed the gloomy sentiment, predicting a bear market for the leading cryptocurrency in 2026.

Over $640 million in Bitcoin derivatives was wiped out in the last 24 hours, according to Coinglass, with bullish longs accounting for the vast bulk. Technical indicators flashed a “Strong Sell” for the asset, according to TradingView.

On-chain analytics firm Santiment, however, noticed a sharp jump in bearish social media commentary on Bitcoin, adding that many traders are still “buying dips with confidence.”

Price Action: At the time of writing, BTC was exchanging hands at $102,068.83, down 4.60% in the last 24 hours, according to data from Benzinga Pro.

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Photo Courtesy: Frame Stock Footage on Shutterstock.com

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Bitcoin has broken below the $105,000 level, deepening market fears as selling pressure accelerates across the crypto landscape. The sharp move lower comes at a time when confidence is wavering, volatility is rising, and traders are bracing for possible further downside. Yet beneath the surface, a key on-chain indicator suggests that a critical liquidity shift may be approaching — one that has historically preceded major rebounds.

According to data from CryptoQuant, the Stablecoin Supply Ratio (SSR) has now fallen back into the same low zone seen just before Bitcoin’s earlier recovery this year, hovering around the 13–14 range. This indicator measures the ratio between Bitcoin’s market capitalization and the total market cap of stablecoins, offering insight into the amount of “dry powder” available on the sidelines.

When SSR declines, it typically signals that stablecoin liquidity — potential buying power — is increasing relative to Bitcoin’s valuation. Historically, this zone has often acted as a turning point, where capital quietly builds before re-entering risk assets.

SSR Signals Hidden Liquidity — But With a Cycle-End Twist
According to CryptoQuant analyst Woominkyu, the behavior of the Stablecoin Supply Ratio (SSR) offers critical insight into Bitcoin’s current position in the market cycle. When SSR drops, stablecoin liquidity — effectively the dormant “buying power” sitting on the sidelines — rises. This dynamic often precedes market recovery phases, as capital quietly prepares to rotate into Bitcoin.

Conversely, when SSR climbs, it typically reflects liquidity being deployed already, aligning with overheated markets and distribution periods.

Bitcoin Stablecoin Supply Ratio | Source: CryptoQuant
Right now, SSR is retesting its yearly lows while Bitcoin trades near $104,000 and attempts to consolidate. This alignment has historically marked powerful turning points, suggesting that fresh capital could be preparing to re-enter. In previous cycles, similar setups preceded relief rallies and, in some cases, explosive upside continuation. That makes the current environment particularly intriguing, even as bearish sentiment dominates and fear spreads across the market.

However, Woominkyu highlights a key nuance that traders cannot ignore: each SSR rebound zone in recent cycles has shown diminishing strength. In other words, while liquidity is accumulating, the magnitude of these signals appears to be weakening. This could mean that crypto’s liquidity engine — once driven heavily by rapid stablecoin expansion and speculative inflows — is slowing.

If this interpretation holds, Bitcoin may still see a recovery rally from current levels, potentially even one final push toward euphoric highs. But it also suggests the possibility that the market is gradually transitioning into a new phase — one defined less by aggressive liquidity cycles and more by maturing capital flows, institutional participation, and slower reflexive momentum.

Bitcoin Slides Toward Key Support as Momentum Weakens
Bitcoin’s price action continues to deteriorate as market volatility rises, with BTC now trading around $104,000 after breaking below the $105,000 level. On the 8-hour chart, the structure remains fragile, and the series of lower highs and lower lows highlights persistent bearish momentum. Attempts to reclaim the $110,000 region earlier in the week were rejected near the cluster of moving averages, reinforcing that sellers currently control the market.

BTC testing local demand | Source: BTCUSDT chart on TradingView
The highlighted consolidation zones around $109,000–$111,000 and $106,000–$108,000 have flipped into resistance, providing a visual map of where supply continues to overwhelm demand. Now, price is approaching a critical demand zone near $102,000–$103,000. This area has historically attracted dip buyers, but if it fails, Bitcoin may be exposed to a deeper retrace toward psychological support closer to $100,000.

Volume has noticeably increased on recent red candles, suggesting panic-driven selling and forced liquidations rather than calm distribution. Meanwhile, moving averages are starting to roll over, and the 50-EMA has turned sharply lower, signaling momentum loss.

Bulls need to defend this current support region to avoid further downside acceleration. Until Bitcoin reclaims at least the $108,000–$110,000 zone, the market bias leans bearish, and traders should expect volatility and caution as price compresses near these key levels.

Featured image from ChatGPT, chart from TradingView.com

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.
As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community.
To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.
Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance.
Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

Traders can also keep track of where liquidation levels are concentrated, helping identify zones of forced activity that can act as near-term support or resistance.Updated Nov 5, 2025, 2:53 a.m. Published Nov 5, 2025, 2:42 a.m.

Bitcoin slid to just above $100,000 late Monday before a slight rebound to $101,000, as a wave of forced liquidations and renewed macro jitters erased billions in speculative positions across crypto markets.

More than $2 billion in futures contracts were liquidated in the past 24 hours, per CoinGlass, with long traders accounting for nearly 80% of the losses at $1.6 billion.

STORY CONTINUES BELOW

Crypto liquidation heatmap. (CoinGlass)

Liquidations occur when traders using borrowed funds are forced to close their positions because their margin falls below required levels. On crypto futures exchanges, this process is automatic, as when prices move sharply against a leveraged trade, the platform sells the position into the open market to cover losses.

Large clusters of long liquidations can signal capitulation and potential short-term bottoms, while heavy short wipeouts may precede local tops as momentum flips.

Traders can also keep track of where liquidation levels are concentrated, helping identify zones of forced activity that can act as near-term support or resistance.

The wipeout marks one of the largest deleveraging events since September, indicative of how fragile positioning has become after weeks of whipsaw price action.

Bitcoin fell 5.5% in the past day and is down more than 10% over the week. Ether dropped 10% to $3,275, while Solana’s SOL and BNB lost 8% and 7% respectively. XRP, Dogecoin and Cardano also slid between 5% and 6%.

The total crypto market capitalization slipped back toward $3.5 trillion, its lowest level in over a month.

“Bitcoin traded around $100,000 today as risk-off sentiment took hold of financial markets, impacting a broad swath of digital assets, stocks, and commodities,” said Gerry O’Shea, head of global market insights at Hashdex, in an email to CoinDesk.

“Recent speculation that the FOMC may pass on another rate cut this year, as well as concerns over tariffs, credit market conditions, and equity valuations, helped drive markets lower. Bitcoin’s recent price trajectory has also been impacted by selling from long-term holders — an expected phenomenon as the asset matures,” O’Shea added.

On exchanges, Bybit accounted for $628 million in liquidations, followed by Hyperliquid with $533 million and Binance at $421 million. The single largest closure was an $11 million BTC-USDT long on HTX.

Despite the volatility, analysts said the broader outlook remains constructive.

“While $100,000 may be a psychologically important support level, we do not view today’s price action as a sign of a weakening long-term investment case for Bitcoin,” O’Shea said.

With the Federal Reserve pausing on further cuts and global risk appetite still fragile, traders say the next few sessions will test whether Bitcoin’s bounce can turn into a sustained recovery — or if another wave of forced selling lies ahead.

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The correction could have more room to run, with ETH potentially falling to as low as $2,700-$2,800, 10x Research's Markus Thielen warned.

What to know:

Ether has plunged over 20% in a two-day rout, nearly as much as during the October 10 crash.The sharp leg lower triggered nearly $1 billion in liquidations in two days, wiping out leveraged ETH derivatives traders.10x Research analyst Markus Thielen sees risk of a slide to $2,700–$2,800 as ETF flows, retail and digital asset treasury demand collapse.Read full story

BlackRock's new Bitcoin ETF in Australia, AI trading wins, and Tom Lee's $200K BTC forecast boost market optimism as Bitcoin tests $101K support.

Modexp inefficiency and $135.7M ETF outflows mean Ethereum is getting hit from both sides.

If demand doesn’t return fast, $3.3K-$3.35K will become a realistic downside target.

Ethereum [ETH] is facing a double hit this week, and the timing could not be worse!

Co-founder Vitalik Buterin admitted in an X post that the current modexp precompile is hurting ZK-proof efficiency. He added that it’s slowing down a feature that is meant to drive ETH’s next big scaling upgrade.

At the same time, institutions are quietly walking out the door – ETH ETFs saw $135.7M in net outflows, with BlackRock alone unloading $81.7M. If both the tech layer and the capital layer turn against ETH in the same week, is the floor about to give way?

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Cardano has drawn attention once again following its current price decline that pushed it below $0.57, with network activity and investor confidence showing weakness. Reports have suggested that co-founder Charles Hoskinson blamed the Cardano community for the blockchain’s DeFi stagnation. 

However, Hoskinson has now publicly refuted those claims, calling them a misrepresentation of his comments. In a fiery response on the social media platform X, he criticized crypto media outlets for twisting his words, noting that he never blamed users for ADA’s DeFi struggles but instead highlighted a participation imbalance within the ecosystem.

Hoskinson’s Clarification: I Never Blamed Anyone
In a video on X addressing the controversy, Hoskinson expressed frustration at what he described as “fundamentally dishonest” reporting. He stated that the headlines portraying him as blaming Cardano users for the network’s DeFi woes were entirely false. 

He insisted that his initial comments were meant to identify a structural issue within the ecosystem. The structural issue is based on the difference between those who stake ADA and those who engage in decentralized finance, and it is not to assign blame.

According to Hoskinson, over 1.3 million users actively participate in Cardano staking, while far fewer engage with the blockchain’s DeFi protocols. This disparity, he argued, explains why ADA’s total value locked (TVL) is modest compared to other networks. 

He estimated that if the same level of engagement were mirrored on both sides, Cardano’s DeFi TVL could range between $5 billion and $10 billion. Hoskinson pointed out that this observation was not a criticism of the community but an analytical point about user behavior and ecosystem growth patterns. “There’s not a single person in the Cardano ecosystem who I am blaming for our DeFi situation,” he said.

A Closer Look At Cardano’s DeFi Sector
Hoskinson went on to explain that the problem lies not in lack of community engagement, but in the absence of proportional participation between governance and DeFi. According to him, Cardano’s large user base and strong staking participation prove the network’s health and scale, and this contradicts claims that it only has between 10,000 and 50,000 active users.

The real challenge, he said, is understanding why the majority of participants who stake their ADA are not also contributing to DeFi liquidity. These challenges could be factors such as slippage, fees, user experience, yields, and education.

Despite the controversy surrounding the misinterpretation of Hoskinson’s remarks, there is still an underlying issue of Cardano’s sluggish DeFi growth. On-chain data still shows that ADA’s daily active addresses have dropped from over 32,000 in mid-October to around 24,000 in early November.

According to data from DeFiLlama, the Cardano network currently has the 26th largest TVL, with only about $243.2 million in 60 protocols. At the time of writing, ADA is trading at $0.5417, down by 6.2% in the past 24 hours. However, the decline is not limited to Cardano alone, as the entire crypto market is currently down by 4% in the past 24-hour timeframe.

ADA trading at $0.54 on the 1D chart | Source: ADAUSDT on Tradingview.com
Featured image from Adobe Stock, chart from Tradingview.com

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

Traders are monitoring the $2.08 support level to prevent further declines toward $2.00.Updated Nov 5, 2025, 3:19 a.m. Published Nov 5, 2025, 3:17 a.m.

(CoinDesk Data)

What to know: XRP fell 6.4% to $2.20 amid heavy institutional selling, breaking key support levels.Trading volume surged 126% above average, indicating institutional participation in the selloff.Traders are monitoring the $2.08 support level to prevent further declines toward $2.00.XRP plunged sharply during Tuesday’s session, breaking below key support levels on exceptional volume as bearish momentum strengthened and traders targeted the $2.00 psychological zone.

News BackgroundXRP fell 6.4% to $2.20 over 24 hours, sliding from an intraday high of $2.35 amid heavy institutional selling pressure. The token traded across a wide 12.4% range as the broader crypto market stabilized, underscoring XRP’s isolated weakness.Trading volume spiked to 356.7 million, representing a 126% surge above the 24-hour average, confirming institutional participation in the breakdown sequence.Strong resistance persisted at $2.37, with rebound attempts to $2.33 and $2.23 repeatedly rejected. The failure to sustain gains above prior support marked a structural shift from accumulation to active distribution.Price Action SummaryPrice action turned sharply bearish after the $2.17 breakdown, driving XRP to a session low of $2.08 before stabilizing around $2.20. Intraday data revealed a brief recovery from the $2.11 base, with price climbing 4.5% to $2.209 on a short-term volume burst of 5.8M tokens, though the rally stalled at $2.216 as liquidity faded.The late-session bounce coincided with news that Ripple’s RLUSD stablecoin crossed $1 billion in market capitalization, but technical dynamics remained the primary driver. Momentum loss above $2.22 signaled limited conviction behind the recovery, leaving XRP trapped below prior breakdown levels.Technical AnalysisThe session confirmed a decisive bearish bias as XRP formed consecutive lower highs and lower lows from the $2.37 resistance peak. The pattern validates a short-term downtrend reinforced by volume expansion during selloffs and contraction during rebounds — a classic signature of institutional distribution.Momentum indicators turned negative, with the relative strength index trending near neutral after falling from overbought territory earlier in the month. The failure to reclaim the $2.17 line suggests further weakness unless renewed demand emerges around the $2.08-$2.11 consolidation base.While XRP’s structure hints at a possible oversold recovery, volume divergence and failed retests imply rallies may continue to face heavy resistance until broader market sentiment improves.What Traders Should KnowTraders are watching whether XRP can hold above the $2.08 support to avoid accelerating losses toward the $2.00 psychological level. A sustained recovery above $2.22 would be required to re-establish bullish footing, while failure to maintain current levels risks another wave of liquidation.Institutional volume spikes during declines confirm active repositioning rather than retail-driven volatility. For tactical traders, the $2.17–$2.22 zone represents the key inflection range that could define short-term direction.More For You

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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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Bitcoin Bounces Near $100K, ETH, SOL, XRP Drop 6-10% as Bulls See $1.6B Liquidations

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Traders can also keep track of where liquidation levels are concentrated, helping identify zones of forced activity that can act as near-term support or resistance.

What to know:

Bitcoin's price dropped to just above $100,000 amid forced liquidations and macroeconomic concerns.Over $2 billion in futures contracts were liquidated, with long traders suffering the majority of losses.Despite the volatility, analysts maintain a positive long-term outlook for Bitcoin.Read full story

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Bitcoin’s price continues to face mounting pressure as it hovers near key support levels. With sellers pushing toward the $102,000 zone, BTC is now at a moment that may mark the final washout before a major rebound. The coming days could be decisive in determining whether Bitcoin finds its footing or continues its decline.

Bitcoin Faces Pressure Below $108,000 As Bears Regain Control
Crypto analyst Crypto Candy shared insights into Bitcoin’s latest price action, noting that the flagship cryptocurrency tried to hold the $107,000–$108,000 support zone but ultimately failed to do so, closing below that level. This development signals a potential shift in market dynamics, as the $107,000–$108,000 zone may now act as a strong resistance area. 

Crypto Candy further explained that if the downward momentum continues, Bitcoin could retrace deeper toward the $99,000–$101,000 range, an area viewed as a critical support zone where fresh buying interest might emerge. A dip into this range could also help clear out weak positions and create healthier conditions for a long-term rebound.

BTC’s correction to extend before a bounce | Source: Chart from Crypto Candy on X
However, the analyst added that if Bitcoin manages to reclaim and hold above the $107,000–$108,000 zone, it would signal that bullish strength is returning to the market. Such a breakout could restore confidence among investors, paving the way for renewed upward momentum and possibly another push toward higher targets. 

$102,000: The Ideal Flush Zone Before The Next Big Move
In his latest BTC daily update, Super฿ro emphasized the critical role of the $102,000 support zone, describing it as an ideal area for the market to flush out remaining leveraged long positions. This kind of shakeout is often necessary to clear weak hands and set the stage for a more sustainable bullish continuation.

Super฿ro further noted that once this cleanup phase concludes, Bitcoin could see a sharp rebound, primarily fueled by a short squeeze from traders caught on the wrong side of the market. As shorts begin to close their positions, buying pressure could intensify, creating a rapid upward move that reclaims lost levels. 

That said, the crypto analyst has warned that a break below the $101,000 level would not be ideal, as it might signal that market weakness is deeper than anticipated. Still, he maintains confidence in the broader picture, highlighting that high-timeframe (HTF) indicators remain supportive of a potential rebound.

Presently, the price of BTC is hovering around $104,000, indicating a more than 3% decline over the last 24 hours. Meanwhile, its trading volume has picked up pace, rising by over 79% in the same time frame.

BTC trading at $103,978 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from Tradingview.com

Dogecoin (DOGE) faced heavy selling pressure in the last session, tumbling 6.7% from $0.1719 to $0.1605 as whales exited positions into market weakness. The breakdown below key $0.17 support marked a clear shift in market control toward the bears, with $0.16 now acting as the next critical battleground for price stability. Trading volume surged roughly 76% above its seven-day average, signaling strong distribution activity rather than emotional retail selling.

The selloff extended ongoing liquidation from large holders rotating out of meme coins amid tightening liquidity across the altcoin market. A massive 1.44 billion DOGE sell wall around $0.1702 rejected early buyer attempts, triggering algorithmic stop losses and accelerating the downward momentum. That level now stands as a key resistance zone, where sellers are likely to defend aggressively until a clear reversal forms. Broader market data shows leverage reduction and capital rotation back into Bitcoin, leaving Dogecoin vulnerable as risk appetite fades.

Price action revealed a steady fade from $0.1719 to $0.1650 before a sharp drop to $0.1600. The largest sell-off — about 59 million DOGE — occurred within minutes late in the session, confirming panic-driven exits. Afterward, trading flattened with minimal recovery, suggesting exhaustion but not accumulation.

Technically, Dogecoin maintains a bearish continuation pattern with lower highs and fading momentum. Immediate support sits near $0.1600, followed by deeper liquidity pockets between $0.1550 and $0.1500. Resistance remains at $0.1630 and the $0.1702–$0.1714 supply zone. Oversold indicators are appearing, yet no strong reversal signals have emerged, implying further drift or grind lower unless a catalyst triggers renewed buying interest. Traders are closely watching if $0.1600 holds or if deeper retracements toward $0.1550 occur amid ongoing whale outflows and macro volatility.

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