This page lists the latest Bitcoin news and market analysis. Browse articles, expert insights, and updates in this category on JrKripto. Stay informed with in-depth coverage of cryptocurrency trends and developments.
News
Bitcoin News
Browse all Bitcoin related articles and news. The latest news, analysis, and insights on Bitcoin.
The delayed employment data released following the historically long government shutdown in the US has created a cautious price in crypto markets. The nonfarm payrolls report, normally released on the first Friday of each month, was released today due to the 43-day-plus shutdown. While the September figures reveal that the economy created jobs above expectations, the rise in the unemployment rate cast a more mixed tone on the data. This picture has reopened discussion about the possibility of a rate cut for the Fed's December meeting.119,000 new jobs announcedAccording to data released by the US Department of Labor, the economy created 119,000 new jobs in September. Market expectations were 53,000. Furthermore, the previous figure of 22,000 was revised downward, not upward, suggesting that summer employment growth was weaker than anticipated. The significant downward revisions to the July and August data suggest that employment momentum has slowed since the summer.However, the picture is not entirely positive. The unemployment rate, at 4.4%, exceeded expectations. Economists expected the data to remain at 4.3%. Despite strong employment growth, this rise in unemployment indicated a more complex labor market outlook than anticipated. Furthermore, due to the government shutdown, October employment data will not be released at all. This further narrows the data set available for investors to analyze as the Fed approaches its final meeting of the year.The market's initial pricing reflects this uncertainty. According to CME FedWatch, the probability of a December interest rate cut has fallen to 31.8% from 100% a month ago. The probability of the Fed holding interest rates steady is priced in at 68.2%. Under normal circumstances, strong employment data would have lifted the dollar index; however, the DXY only saw limited movement, settling at 100.15. This suggests that markets are hesitant to take overly aggressive positions as they attempt to understand the Fed's response.A similar cautious approach prevails in the crypto market. Immediately after the data release, Bitcoin (BTC) traded within a narrow range of around $500, trading at $92,230. Ethereum (ETH) settled around $3,034. Normally, strong employment data can trigger sharper sell-offs in risk assets; however, the limited initial response suggests that crypto investors are trying to absorb macro uncertainties. According to some analysts, the continued resilience of employment could prompt the Fed to act more cautiously at its final meeting of the year. This is a key factor in determining Bitcoin's short-term direction. Meanwhile, the price of gold rose slightly intraday to around $4,080 in the commodity market, which is the source of the data; however, the real volatility will be seen in the crypto market.Investors are now focused on next week's PMI and inflation indicators. These data will provide clues about the Fed's policy stance heading into 2025. Cautious pricing in the crypto market is expected to continue for a short time.
Bitcoin is under sharp pressure again, and the market landscape appears more complex than in previous corrections. The price fell to $88,600 on Wednesday, a level not seen since April. Compared to the start of the year, BTC is still down approximately 5 percent. The decline coincided with the release of the Federal Reserve's October meeting minutes, the FOMC meeting, and further shaken market sentiment.The minutes reveal that the disagreements among Fed members have reached their most pronounced level this year. One group argues that the economy is softening, signs of a cooling in the labor market are becoming evident, and that more cautious policy is needed. Another, stating that inflation still hasn't sustained its 2% target, believes interest rates should remain steady. The fact that one member calls for a more aggressive 50 basis point cut, while another advocates "no cuts at all," highlights the broad division within the board.This situation was immediately reflected in the market. The probability of a 25 basis point cut on Polymarket in December was 52% before the minutes, but dropped to 30% after the announcement. The market currently assigns an approximately 70% probability to interest rates remaining stable. CME FedWatch data confirms this division.As macro uncertainty rises again, the already fragile Bitcoin structure has been further disrupted. K33 Research analyst Vetle Lunde states that a "dangerous leverage" structure has emerged in the derivatives market. The increase in open interest in futures positions, exceeding 36,000 BTC in the past week, is the largest increase since April 2023. The positive funding rate suggests that most investors are still attempting to buy reactively, in other words, the typical "catch the knife when it falls" behavior is evident in the market. Lunde notes that this structure has generally resulted in deeper declines in previous periods.According to the analyst, a strong bottom could form between $84,000 and $86,000; However, if the sell-off accelerates, a retest of the $74,500 low from April is also possible. The situation is no different for Ethereum; ETH has fallen to around $2,870, falling below $3,000 for the first time since July. XRP, on the other hand, is trading at a significant threshold, approaching $2 again after five months.QCP Capital's assessments also explain the extent of the decline. The company states that the sell-off is not due to a single reason, but rather to weakening liquidity conditions, continued ETF outflows, and a sharp reversal in macroeconomic expectations. In particular, the decline in the probability of an interest rate cut, which was considered a certainty in December, to 50% within the week quickly dampened risk appetite. The liquidation of a $559 million leveraged position in the last 24 hours also demonstrates this effect.QCP emphasizes that while stocks are supported by strong balance sheets and artificial intelligence-focused institutional investments, Bitcoin does not enjoy the same protection. Due to BTC's reliance on liquidity, the impact of ETF outflows is magnified. The institution also notes that labor force data and the LEI indicator, due this week, could inform Fed policy, and therefore volatility is expected to remain high for some time.Bitcoin Price UpdateFollowing this decline, Bitcoin price has returned above $90,000. At the time of writing, it is trading at $91,900, a 0.7 percent increase.
New Hampshire has approved the first Bitcoin-backed municipal bond in the US, marking a new chapter in the integration of crypto assets with traditional finance. The state's business support agency, the New Hampshire Business Finance Authority (BFA), greenlit a $100 million Bitcoin-backed conduit bond on November 17. This move is seen as a milestone that could enable the entry of digital assets into the $140 trillion global debt market.The approved structure allows companies to use overcollateralized Bitcoin held in private custody as debt instruments. Bitcoin assets will be held by BitGo, and investor protection will be provided entirely through this collateral. BFA acts solely as an intermediary, managing and approving the process; no government or taxpayers bear any risk.Wave Digital Assets and Rosemawr Management, a municipal bond specialist, are behind this financial innovation. The product is designed to align with the traditional framework governing municipal and corporate bonds. Wave co-founder Les Borsai states that their goal is to "combine traditional fixed-income markets and digital assets in a fully institutional and scalable model."The state government considers this step a strategic initiative. New Hampshire Governor Kelly Ayotte described this Bitcoin-backed bond as a "historic innovation" and highlighted the state's pioneering role in embracing technology. According to Ayotte, this model will open new investment channels without risking the state budget.How does Bitcoin collateral work?The mechanism of Bitcoin collateral is also noteworthy. According to the structure, borrowers must deposit approximately 160% of the bond value in Bitcoin as collateral. If Bitcoin's value falls below 130%, an automatic liquidation mechanism is activated, guaranteeing full repayment of bond investors. This model allows borrowing institutions to access capital without selling Bitcoin or incurring tax liabilities. BFA Director James Key-Wallace announced that the fees and potential collateral gains from these transactions will support entrepreneurship and job growth in the state through a new fund called the "Bitcoin Economic Development Fund." This aims to create a circular financial ecosystem that will create value for both the public and private sectors.This initiative follows the first US state legislature allowing the state treasury to invest in Bitcoin. Earlier this year, New Hampshire legalized the investment of up to 5% of public funds in digital assets, becoming the country's first "strategic Bitcoin reserve."According to experts, if this model proves successful, other states are likely to pursue similar Bitcoin-backed debt instruments. This move could set a precedent for the integration of crypto assets into mainstream financial infrastructure, particularly considering the $58.2 trillion US bond market.
While Bitcoin's plunge below $90,000 on November 18th created significant anxiety in the crypto market, Geoffrey Kendrick, head of digital asset research at Standard Chartered, says this pullback is a cyclical correction and that selling pressure may have largely ended. Bitcoin tested a seven-month low during the days when investors panicked; however, according to Kendrick, the pattern is quite similar to past corrections, suggesting that the bottom may have already been seen.Kendrick describes the recent decline as "a version of a rapid and painful post-ETF correction." Since the approval of spot Bitcoin ETFs in the US in 2024, Bitcoin has experienced three major pullbacks, each resulting in a strong recovery. Standard Chartered believes this third major correction follows the same pattern. As short-term investors accelerated selling, ETF inflows slowed, and the market's liquidity weakened, some indicators dipped into oversold territory. One of these is the decline of MicroStrategy's mNAV ratio back to 1.0. This metric means the company's market capitalization is parity with Bitcoin holdings, and according to Kendrick, such readings near zero generally signal bottoming. The Bitcoin Fear and Greed Index's decline to 15 is another indicator of extreme panic in the market.Market signals are improvingAnalysts note that despite the deepening pullback, long-term signals are improving. Most ETF investors are nearing breakeven, and on-chain accumulation behavior suggests that high-conviction buyers have begun buying. The quiet accumulation of large investors during days of accelerated retail investor selling is considered by many experts to be the final stage of the correction.While market volatility continues, Standard Chartered believes there has been no dramatic deterioration in the broader macro picture. Kendrick notes that liquidity conditions and inflation data, in particular, support risk appetite, and that ETF inflows are likely to regain momentum in December. The analyst, who previously announced his year-end target of $200,000, emphasized that "the rally remains the baseline scenario," although he didn't reaffirm it today.Meanwhile, some analysts point out that the market remains fragile. Nansen's Nicolai Sondergaard says that market depth has decreased by approximately 30 percent since the major liquidation on October 10th, causing prices to react sharply even to small sell-offs. He doesn't completely rule out the possibility of an "extension" to the mid-$80,000s in the options market; however, current levels or a rapid recovery are more likely.In conclusion, Bitcoin's sub-$90,000 surge has created a cold shower in the market; however, the outlook for major institutions remains unchanged. The view that we are entering a period of diminishing selling pressure, improving on-chain data, and supportive macro conditions is gaining strength. If ETF outflows slow down and the $95,000-$100,000 range is breached again, the year-end rally that Standard Chartered is signaling is still on the table. At the time of writing, Bitcoin is trading around $91,280.
BTC Technical AnalysesAnalyzing the chart on the daily time frame, wee see that BTC has pulled back exactly into the expected zone on the daily chart. This zone refers to the 0.618–0.66 Fibonacci area. This zone has acted as a demand region in the past and often marks trend reversals. The price is currently trying to hold inside this band.The RSI is also moving into the bottom zone, showing that selling pressure is weakening and momentum is fading. When we combine these signals, the current levels show a strong chance for a rebound.Short-term outlook:As long as BTC holds above the 0.618 level ($91,100), the potential for a bounce remains strong.If a rebound begins, the first resistance zone is between $96,900 – $103,000.A break above this area would bring back bullish momentum.If the price drops:The last possible retracement zone is between the 0.66 – 0.79 levels ($89,100 – $83,200).Even a test of the 0.79 level would not break the larger bullish structure.In summary:BTC is currently sitting in the “golden ratio” zone, where reversals often occur. A single strong green candle from this region would likely confirm a short-term recovery. BTC Critical Zone These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However,traders are responsible for their own actions and risk management. Morover, it is highly recommended to use stop loss (SL) during trades.
Mt. Gox, one of the most controversial names in cryptocurrency history, broke its long silence and carried out a massive Bitcoin transfer. According to Arkham Intelligence data, 10,422.6 BTC, or approximately $936 million, was moved from addresses belonging to the bankrupt exchange to a new wallet on Tuesday. This move came after eight months of inactivity and renewed uncertainty surrounding the repayment process.The timing of the transaction is particularly noteworthy, as the Bitcoin price has been experiencing sharp fluctuations in recent days, and sensitivity to selling pressure is high. This transfer by Mt. Gox is the largest since March. At the time, the exchange made another significant transfer worth 11,834 BTC, which triggered similar concerns in the markets.According to Arkham Intelligence's current data, approximately 34,689 BTC are currently held in Mt. Gox addresses. This amount has a market value of around $3.1 billion. Therefore, every major transfer is closely monitored by crypto investors. "This isn't a sale, it's a preparation."As news of the transfer spread, questions about the possibility of a mass sell-off originating from Mt. Gox intensified in the markets. However, on-chain experts state that the move doesn't directly imply a sale. Analysts generally agree that such transactions are restructurings between hot and cold wallets.Analyst Xinsidercrypto commented, "This isn't a sale; no BTC has been released. This is merely preparation; real selling pressure only begins when assets are transferred to exchanges." Another expert stated that while the movement of more than 10,000 BTC might seem "frightening" at first glance, the Mt. Gox process has been progressing according to a schedule that has been known and expected for years.The Never-Ending Refund ProcessMt. Gox experienced one of the crypto world's biggest crashes following a massive 2014 hack in which 850,000 BTC were lost. Approximately 200,000 BTC were recovered during years of legal proceedings, and a "civil rehabilitation" program was launched for their distribution.Although the company began the first repayments in mid-2024, the process is progressing at a painful pace. Last month, a statement announced that the repayment date had been postponed to October 31, 2026. Rehabilitation officer Nobuaki Kobayashi stated that many creditors still had not received payments and that there were ongoing procedures to resolve.Therefore, it is highly likely that the recent BTC transfer was related to repayment preparations. However, the lack of confirmation makes the move even more speculative. Such a large transfer, especially at a time when the Bitcoin price had fallen below $90,000, created additional market stress.
Strategy (formerly MicroStrategy), one of the largest players in the Bitcoin treasuries space, launched another massive acquisition wave in mid-November. The company announced the purchase of 8,178 BTC between November 10 and 16. The total purchases amounted to approximately $835.6 million, with an average cost of $102,171. With this transaction, the company's total Bitcoin holdings increased to 649,870 BTC, worth approximately $61.7 billion at current prices.Michael Saylor, the company's largest shareholder and chairman, stated in a statement following the latest acquisition that their average BTC cost was $74,433. Strategy's current position represents more than 3% of the Bitcoin supply. The company's on-paper return at the current price range is approximately $13.3 billion.The new purchases were funded by funds from Strategy's perpetual preferred stock offerings. These instruments, codenamed STRK, STRF, STRC, and STRE, form the backbone of the company's massive Bitcoin acquisition strategy. STRE, in particular, stands out as the company's first euro-denominated perpetual preferred stock issue. The Strategy's total capital increase target is $84 billion by 2027. This target was updated by doubling the company's previous "21/21" plan.This purchase, which Saylor highlighted last week with his "₿ig week" message, represents the largest BTC addition since the summer. Just a few days earlier, the company had announced an additional purchase of 487 BTC. This brought the Strategy to approximately 8,600 BTC in the first half of November. Response to selling allegationsWhile the number of companies adopting the Bitcoin treasury model continues to grow, most stocks in the sector appear to have suffered significant losses since the summer. The Strategy's market capitalization/net asset value (mNAV) ratio has also fallen to 0.93. Despite this, Bernstein analysts state that this decline creates a false perception that the company will sell Bitcoin, emphasizing that this is "untrue." According to the analysts, Strategy's debt level is reasonable, and its dividend obligations are manageable.Saylor also strongly denied the sales allegations. Responding to the claim that "47,000 BTC were sold" circulating on social media last week, Saylor said this was a misconception stemming from wallet rotations on the blockchain analysis platform Arkham. "The reality is: We're not selling, we're buying. And we're buying seriously," he said.While Strategy's share price closed last week with a sharp decline, the company is determined to maintain its aggressive buying policy despite Bitcoin price fluctuations. In Saylor's words, the company believes it has a capital structure that "can weather even a 90% Bitcoin decline over 4-5 years."
Global crypto investment products experienced a record capital outflow of $2 billion last week. The latest data from CoinShares indicates the sharpest weekly decline since February. This suggests that both uncertainty about a macro-level interest rate cut and the sell-off by large crypto investors are putting new pressure on the market.CoinShares Research Director James Butterfill states that the reshaping of interest rate cut expectations in recent weeks has disrupted investor behavior. Combined with the accelerated selling by large wallets, the three-week total outflow has reached $3.2 billion. The pullback in digital asset prices has reduced total assets under management from $264 billion in early October to $191 billion.The US is at the center of these outflows. The $1.97 billion outflow alone accounts for 97 percent of global capital losses. This figure demonstrates a significant weakening of risk appetite across a broad spectrum, from institutional investors to individual funds. Switzerland and Hong Kong also contributed to the negative outflows, with outflows of $39.9 million and $12.3 million, respectively.Germany, however, painted a completely different picture. German investors capitalized on the recent declines, generating net inflows of $13.2 million. Butterfill emphasized that Germany's historical tendency to be more "opportunity-focused" during downturns resurfaced this week.The Latest Bitcoin and Altcoin OutlookOutflows were sharp on Bitcoin. Last week, $1.38 billion in investment products were withdrawn from the market. The three-week total loss represents approximately 2 percent of the managed assets of Bitcoin ETPs. The outflow for Ethereum is proportionally weaker. The weekly outflow of $689 million corresponds to 4 percent of the AuM in Ethereum products. Solana saw outflows of $8.3 million and XRP of $15.5 million. These figures reflect continued risk aversion across a broad segment of the market. However, the picture is not entirely one-sided. In the last three weeks, $69 million inflows were generated into multi-asset investment products. Investors' tendency to diversify during volatile periods is strengthening. The increased demand for short-bitcoin products is also noteworthy; net inflows over the three weeks reached $18.1 million. This movement suggests investors are taking more aggressive hedging positions against downside risk.Following the US government reopening, there were expectations of a short-term market relief. However, these hopes quickly dissipated. The Bitcoin price fell to six-month lows, testing the $95,000 level. The delay in the influx of fresh liquidity on the macro side and the selling pressure in the cryptocurrency are delaying the market recovery for now.
The Bitcoin market entered the weekend with a sharp sell-off, hitting a new low that pushed the price to a six-month low. The sell-off, which accelerated on Sunday afternoon, pushed BTC to $93,000, and analysts say this sharp move, despite no apparent compelling reason, is due to a "structural disruption." The Kobeissi Letter team considers this surge in volatility not a random wave but the beginning of a new bear cycle. Bitcoin has lost approximately 25 percent of its value since its all-time high in early October. While the price eased to the $95,000 range amid the sharp sell-off over the weekend, analysts describe this decline as "strange." The current macro environment suggests a more positive backdrop for Bitcoin under normal circumstances. Inflation in the US is slowly declining, the Fed continues its interest rate cuts, and expectations for a trade agreement between Washington and Beijing have strengthened. President Trump even recently stated that "America should be number one in crypto." Therefore, the market's downward movement isn't based on a classic negative development. The Kobeissi team states that the decline is a "mechanical and structural" disruption, triggered by the massive outflow of institutions at the end of October. In the first week of November alone, there was a net outflow of $1.2 billion from crypto funds, one of the largest weekly outflows ever recorded.Increasing Leverage Use: A Major Problem in the MarketThe problem is compounded by leverage. The outflow of institutional funds, coupled with the high leverage used in derivatives markets, has exacerbated price movements. Liquidations exceeded $1 billion in three of the last 16 trading days. Daily liquidations exceeding $500 million have become commonplace. When such large liquidations occur during periods of relatively weak trading volume, the market moves sharply in both directions. This causes sentiment to shift from extreme optimism to intense fear within a few days.The Bitcoin Fear and Greed Index fell to its lowest level since February over the weekend. Interestingly, BTC is still 25% above its April lows. Analysts summarized the reason for the current volatility by saying, "Leverage magnifies even the smallest shift in investor sentiment."ETF outflows are at their peakMeanwhile, ETF outflows are also weighing on the picture. US spot Bitcoin ETFs saw a total outflow of $1.11 billion between November 10 and 14. BlackRock's IBIT fund alone lost $532 million. Grayscale Bitcoin Mini Trust saw outflows of approximately $290 million in a single week. This trend suggests a short-term cooling in institutional demand.A total of $617 million was liquidated in the crypto market over the weekend, $243 million of which came from BTC and $169 million from ETH. At the time of writing, Bitcoin is trading around $95,200, its lowest level in the last six months. Despite this outlook, analysts at Kobeissi Letter argue that the market's fundamentals continue to strengthen. The macro outlook is supportive, regulatory uncertainty is decreasing, and some long-term investors see these levels as an opportunity to accumulate. The analysts note, "These structural breaks will clear over time. The bottom may be near," indicating that this process is temporary.
For months, leverage, funding, and liquidity appetite were largely adjusted to US inflation data. The CPI calendar, which traders use as a compass every month, remained blank this time despite the government reopening. The Bureau of Labor Statistics (BLS) announced that the report would not be released because data collection for October was completely halted during the government shutdown.What is the impact of the US CPI data on the cryptocurrency market?The October CPI, normally due on November 13th (November 14th in Turkey), was nullified because the shutdown completely interrupted the data collection process. Teams required to be out in the field throughout October were unable to collect price samples. The BLS notes that this may not be accurately reconstructed later. Therefore, the October data may have been completely "down."A White House spokesperson issued a harsh statement arguing that this gap was due to the Democrats' stance. However, beyond the controversy, the lack of data itself was critical for the markets. Because the last completed CPI report covered September and was released on October 24th, delayed by the lockdown. Headline and core inflation were at 3.0 percent year-over-year.The crypto market entered the week with this data gap. Bitcoin and Ethereum started the day without a macro catalyst, which they expected to create volatility. However, the market still saw sharp movements. Bitcoin fell nearly 6 percent during the session; a widespread sell-off occurred in altcoins. Liquidity is weak, open interest is low, and the market is essentially on the defensive against the uncertainty created by the lack of data.What is the impact of the US CPI data on the cryptocurrency market?The lack of CPI data broke the chain established for years between macro and crypto. Normally, a soft inflation data release creates expectations that the Fed will take a looser path; the dollar weakens, bond yields decline, and Bitcoin finds buyers. Conversely, hot data creates a perception of tight policy and suppresses risk appetite. This time, this cycle has been completely suspended. Markets are now set to December 10th. Trading Economics lists this date as the "next release," but the data field is left blank. This appears to be a placeholder on the calendar, not a confirmed data date.This gap raises three different possibilities. The first is that the BLS managed to compile a figure for October using partial samples or modeling. Such a figure would be a data point that the market would approach cautiously due to its low quality. However, if the monthly increase falls to 0.2 percent or less, the dollar could soften, and the cryptocurrency market might see short-term relief. Ethereum and high-beta altcoins could follow traditional behavioral patterns.In the second scenario, the data is in the "sticky" zone, meaning it's in the 0.3-0.4 percent monthly range. This scenario could create a directionless day for both the bond and crypto markets. It wouldn't be surprising if Bitcoin remains flat, altcoins outperform, and funding rates turn negative. The third path is more drastic: If the monthly increase reaches 0.5 percent or more, the Fed is priced in to maintain its tight stance for an extended period. In such a scenario, the dollar strengthens, bond yields rise, and the cryptocurrency side typically experiences daily declines of 3-6 points, high liquidation volumes, and rapid deleveraging cycles.The most unusual possibility is that the October data is completely ignored. If the BLS confirms it cannot fill this gap, markets will be forced to proceed without a true inflation measurement for nearly two months directly until the November data. In this case, crypto becomes a more "macro-filtered" asset class. Instead of sharp movements driven by short-term data, slower liquidity flows, ETF inflows and outflows, and institutional behavioral patterns become prominent.During such periods, the capital risk curve is rarely moved down. Bitcoin remains at the center due to its liquidity depth and the strength of its narrative. Meanwhile, the altcoins, which require speculative momentum, remain under pressure.
The crypto market had an extremely rough start to the week. As of Friday morning, all major assets, especially Bitcoin and Ethereum, experienced strong selling pressure; ETF data further darkened the picture. While Bitcoin ETFs and Ethereum ETFs experienced one of their worst days in history, the XRP ETF bucked the trend by recording surprisingly strong inflows around the same time.According to Coinglass data, spot Bitcoin ETFs saw $866.7 million in outflows in one day. This figure marked the third-largest net outflow since the ETFs' launch. Ethereum ETFs were even more striking, with $410 million outflows in a single session. Even the selling pressure generated by October's high volatility couldn't reach these levels.The outflow wave, led by the market's largest ETF providers like BlackRock and Fidelity, demonstrates a significant risk aversion among institutional investors. ETF data is no longer just a market detail; it has become one of the most powerful indicators of the crypto ecosystem's overall risk appetite. Therefore, each new breakout signals a deepening market fragility.Macro pressures hit all risky assetsThe crypto sell-off wasn't solely driven by internal market factors. US stock markets also experienced their worst day in a month. The mass sell-off in technology stocks, in particular, accelerated as investors grew increasingly concerned about the high valuations of AI companies. The uncertainty surrounding the economic outlook and the weakening of interest rate cut expectations further exacerbated the situation.In this atmosphere, appetite for risky assets abruptly diminished; the crypto market is typically one of the most severely affected during such periods. Under this pressure, Bitcoin fell below $100,000, losing its psychological threshold and was trading around $97,000 at the time of writing. The Crypto Fear and Greed Index also fell sharply, falling into the "extreme fear" zone.What does the technical outlook suggest?Bitcoin closed the week with a loss of over 5%, while technical indicators confirm the dominance of sellers. The RSI of 35 suggests the market is still trading in a strong selling zone. If Bitcoin closes below the $97,460 support, analysts predict the price could weaken to the $95,000 range. The outlook for Ethereum is also weak. After rejecting the broken trendline resistance at $3,592 earlier this week, ETH has lost nearly 10% in three days and retreated to the $3,200 region. If ETH loses the $3,170 support, analysts predict a new correction toward the $3,017 region.
The Czech National Bank (CNB) has taken a groundbreaking step for central banking in Europe. The bank announced the creation of a $1 million digital asset portfolio consisting of Bitcoin, a US dollar-pegged stablecoin, and a tokenized deposit. This portfolio is not part of the institution's official international reserves; it is a test account created solely for training, experience, and future planning purposes.The Czech National Bank breaks the moldCentral banks are known to shy away from directly holding cryptocurrencies. Due to volatility, regulatory uncertainty, and institutional risks, digital assets have not been included on central banks' balance sheets until now. Therefore, the CNB's move is considered both a first in the European Union and a significant global milestone.The CNB approved this pilot on October 30th. According to the bank's statement, the aim is to directly experience the processes of purchasing, storing, and managing blockchain-based assets. The experience gained from this process will be shared in regular reports over the next 2-3 years. The bank emphasizes that the total investment amount will not be increased and that this portfolio is financed independently of existing reserves.The most interesting aspect of this pilot program is that Bitcoin will be included on a central bank's balance sheet for the first time. CNB President Aleš Michl says that this idea was first raised in January 2025. This proposal, criticized by European Central Bank (ECB) President Christine Lagarde at the time, has now received official approval from the CNB's board of directors. The Czech Republic, despite being an EU member, has not adopted the euro, giving its central bank more leeway.Michl stated the following in a statement today: “I proposed the idea of a test portfolio in January 2025. Our goal was to understand how a decentralized asset like Bitcoin is positioned from a central bank perspective and to assess its potential for diversifying our reserves.”The assets added to the bank's test portfolio aren't limited to Bitcoin. The portfolio also includes a USD stablecoin; this was included to better understand the practical application of the blockchain-based dollar. It also examines how a tokenized deposit and the digital representation of traditional financial assets work.
US President Donald Trump officially ended the longest government shutdown in the country's history by signing the funding bill passed by the House of Representatives on Wednesday. This 43-day process forced federal agencies to operate at nearly half capacity, directly impacting the crypto ecosystem as well as financial markets.The bill, approved by the Senate earlier this week, took effect with Trump's signature after quickly passing the House. The new funding grants the federal government authority to operate until January 30, 2026, meaning both Democrats and Republicans have a window of several months for more comprehensive budget negotiations.One of the key points of the shutdown was healthcare spending. Democrats wanted more funding for this area, while Republicans argued that regulations should be addressed after the bill was signed. Trump stated his openness to compromise on this issue after the signing, saying, "I'm willing to work with both parties. We can do better on healthcare."What's changing on the crypto side?The government reopening means that crucial institutions, especially in the crypto ecosystem, will return to full capacity. The SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission) were operating with limited staff throughout the shutdown. This had caused critical crypto applications to remain on hold. Here's what's expected now:Decision-making processes for spot crypto ETF applications will accelerate again.The CFTC will proceed with the November 19th confirmation hearing of Mike Selig, Trump's favorite for the agency, as planned.The Treasury Department will continue to review the stablecoin-focused GENIUS Act feedback, which includes feedback collected between early October and early November.All of these developments are clearly critical for the crypto markets in the medium term. Both the progress of the ETF filings and the clarification of the stablecoin regulatory framework will determine the overall direction of the sector heading into 2026.Initial market reaction is subduedThe end of previous government shutdowns throughout history has generated strong gains in crypto assets, particularly Bitcoin. However, this time the picture looks different. The Bitcoin price showed minimal movement following the news, while the broader market remained flat. According to analysts, there are two reasons for this:While the impact of this shutdown on crypto-related institutions was well-known, markets had largely priced it in.Global macro uncertainty remains high, and investor risk appetite remains weak.Nevertheless, the government's reopening represents a significant "unblocking" for the crypto market. Markets may see clearer movement in the coming weeks, particularly as the ETF application update process becomes active again.
Institutional investors are turning to crypto markets again. According to a new report from Sygnum Bank, institutional interest in crypto assets increased rapidly in the last quarter of the year, this time driven not by short-term gains but by portfolio diversification. However, experts warn that this momentum may slow as 2026 approaches.Sygnum Report: Institutions Focus on CryptosIt has been revealed that institutional investors turned to crypto assets in the last quarter of the year, but expectations of a "boom" signal a slowdown towards 2026. The "Future Finance 2025" report from Sygnum Bank, the Swiss-Singapore-based digital asset bank, revealed this trend.According to the report's key findings, 61% of institutional investors plan to increase their digital asset investments, with this figure reaching 38% for the fourth quarter of the year. There is also a significant shift in the motivation for investing in crypto assets: "Speculation" is no longer the primary motivation, replacing it with portfolio diversification. The Sygnum research team interprets this shift as "institutional players are moving from thinking of crypto solely as a defensive position to seeing it as a way to participate in the structural transformation of global finance." In short, crypto assets are now beginning to be accepted as an alternative investment class, not just a short-term source of profit.Strategy ChangeA significant shift is also being observed in the approach of institutional investors. Actively managed strategies (42%) now surpass index-based strategies (39%). This suggests that investors are shifting from a "buy a token and wait" model to flexible strategies that can respond quickly to policy changes and market fluctuations.Furthermore, interest in investment instruments beyond Bitcoin and Ethereum has increased significantly. More than 80% of investors expressed interest in broader crypto ETFs, and nearly 70% said they would increase their allocation if offered staking advantages. Furthermore, the tokenization of real-world assets is also on the rise: interest in this direction has increased from 6% to 26% compared to a year ago. Cautious Outlook for 2026However, not all the data is entirely positive. The report describes 2025 as a "year of moderate risk and strong demand catalysts," noting that factors such as regulatory uncertainty and declining liquidity could weigh on momentum. Indeed, while the vast majority of investors remain confident in the long term, it predicts that crypto market momentum could begin to decline starting in mid-2026.Among the data included in the report: 91% of high-net-worth individuals believe crypto will play a key role in long-term wealth preservation. 81% view Bitcoin as a treasury reserve asset, and nearly 70% believe that holding cash for the next five years carries a higher opportunity cost than holding Bitcoin.
The wave of outflows in digital asset investment products continued into its second week. According to CoinShares' November 10, 2025 report, net outflows totaled $1.17 billion last week. This figure is attributed to the ongoing uncertainty in the market following the liquidity crash in mid-October and the US Federal Reserve's (Fed) hesitation regarding interest rate cuts.Trading volumes hovered around $43 billion throughout the week; while brief hopes of a US government reopening boosted fund inflows on Thursday, this optimism quickly dissipated on Friday.US-based funds led the negative trend. US markets alone saw outflows of $1.22 billion, while Germany and Switzerland saw positive inflows in Europe with $41.3 million and $49.7 million, respectively.Bitcoin and Ethereum ExplodeBitcoin and Ethereum accounted for the largest portion of fund outflows. Bitcoin products saw net outflows of $932 million and $438 million, respectively. Specifically, the iShares (BlackRock) Bitcoin ETF saw $876 million in outflows, and the Fidelity Wise Origin Bitcoin Fund saw $438 million. Grayscale also saw a $142 million decline.The sell-off in Bitcoin also fueled the shift towards short-term products. Short Bitcoin ETPs saw $11.8 million in inflows, the highest weekly increase since May 2025.Altcoins Resist: Solana Leads the WayDespite the selling pressure in major cryptocurrencies, altcoins remained resilient. Solana once again led the way with $118.4 million in weekly inflows. Over the past nine weeks, Solana funds have seen a total capital inflow of over $2.1 billion. XRP also saw a strong weekly inflow of $28.2 million. Other assets saw small but notable movements: Litecoin saw $1.9 million in inflows, and multi-asset products saw $12.3 million in inflows. In comparison, Sui saw $3.8 million in outflows, and Cardano saw $0.1 million.Table by Fund ProviderAccording to CoinShares data, iShares closed the week with the largest outflow, with $876 million. Fidelity saw a $438 million decline, while Grayscale saw a $142 million decline. In contrast, ProShares ETFs saw $158 million in inflows, 21Shares $22 million, and Bitwise $3 million.While the overall net inflow into crypto investment products has maintained $47.8 billion since the beginning of the year, outflows in the last two weeks indicate a significant cooling in investor sentiment.Regional Differences DeepenWhile the US remains at the center of outflow pressure, European markets remain relatively balanced. Germany and Switzerland maintained their positive trend, while Canada and Hong Kong experienced outflows of $7.6 million and $24.5 million, respectively. The report emphasizes that the reshaping of capital flows in the market is closely linked to Fed policies and global risk appetite.
