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Crypto analyst Murphy said on X that the cryptocurrency market has reentered an extreme fear phase. Murphy said realized losses by long- and short-term BTC holders who transferred coins to exchanges on Nov. 12 hit their highest recent level and approached levels seen around the June-July bear-market bottom this year. Murphy added that extreme fear is spreading across the market. Murphy also said Glassnode’s Market Compass, a composite market assessment indicator, fell into a risk-off zone at 11 out of 100, while its macroeconomic component was the weakest at 17. Murphy said macroeconomic headwinds and investors’ collective fear are causing stronger-than-expected selling pressure, adding that Murphy sees the market as being in a transitional phase and plans to buy the dip if sentiment improves.

Decentralized exchange 1inch said it has stopped using its delegated farming contract, as the contract can no longer be used safely after Ethereum’s Glamsterdam upgrade. Users who delegated staked 1INCH to a resolver must claim rewards by Nov. 27. Staking is unaffected.

AguilaTrades, a well-known whale trader on Hyperliquid who has logged losses of more than $38 million from a string of forced liquidations, closed a BTC short position four hours ago to realize a $1.3 million profit and then opened a new 40x leveraged short worth 500 BTC, or about $34.64 million, according to Lookonchain. The position was opened at $68,871 and faces liquidation at $72,273.

An anonymous Ethereum whale sold 16,700 ETH worth $31 million at $1,852 today, according to on-chain analytics firm Hupzy, formerly Spot On Chain. Hupzy said the whale had bought 8,631 ETH worth $23.7 million about a month ago when ETH was trading at $2,749. The latest sale price was about 33% below the earlier purchase level. Hupzy said the move appeared to be a typical capitulation sale, with a whale that bought near a peak offloading a large position after ETH fell to $1,850.

DeFi analyst Ignas said on X that Bitcoin appears to be facing a credibility crisis beyond a sharp price drop. Ignas said conviction among investors who viewed Bitcoin as a store of value, or SoV, is weakening alongside the decline, while fewer investors are stepping in to buy the dip than in past downturns. Ignas added that some investors are shifting attention from BTC to other assets, including AI-related stocks and ZEC. In the current market, trading aimed at short-term rebounds could increase at the expense of long-term holding, Ignas said. Stablecoin outflows and concerns that Strategy (MSTR) could be excluded from MSCI indexes are also weighing on sentiment, according to Ignas. Ignas said the weakening trust in Bitcoin is more pronounced in BTC than in altcoins for those reasons. Even so, Ignas added that broader adoption and expansion of crypto technology is still continuing, citing Hyperliquid (HYPE) and NYSE-related partnerships involving Avalanche (AVAX).

XRP could fall further to $0.80 if it loses support at $0.99, the lower end of its range on the three-day candlestick chart, crypto analyst Ali Martinez said. XRP pulled back to $0.99 after failing to break above channel resistance at $1.55, Martinez said, adding that a breakdown below the channel floor could widen XRP’s decline in November to about 36%. According to CoinMarketCap, XRP was trading at $1.02, down 2.67%, at the time of writing.

Ripple’s stablecoin RLUSD has overtaken PayPal’s PYUSD in market capitalization, reaching $2.72 billion versus $2.63 billion for PYUSD. According to DefiLlama, PYUSD supply fell by about $99.46 million over the past 24 hours, while RLUSD remained relatively stable. RLUSD supply increased by about $70.63 million over the past seven days.

Crypto analyst Crypto Capo, who has about 985,000 followers on X, said Bitcoin may have formed a local bottom on the three-day chart. Crypto Capo added that a scenario discussed in September calling for Bitcoin to reach $100,000 by year-end appears to be playing out, and said the scenario now suggests the bottom is likely in. In a chart shared on X, Crypto Capo identified $64,900 to $73,800 as a key higher-time-frame support zone for BTC and outlined a scenario in which the asset forms a bottom in that range before rebounding to test a major resistance area around $100,000 to $108,400.

Spot CVD is an order book analysis chart for the BTC/USDT spot trading pair. The upper panel shows the volume heatmap, while the lower panel represents cumulative volume delta, or CVD. - The upper volume heatmap tracks trading volume at each price level. The background becomes brighter when the price stays in a specific range for an extended period or makes a large move. Brighter zones may act as support or resistance levels. - The lower CVD indicator represents buy and sell orders by fund size. As buy orders increase, the line in the corresponding color moves higher. The yellow line is based on orders ranging from $100 to $1,000, while the brown line reflects large orders ranging from $1 million to $10 million.

RWA-focused layer-1 blockchain MANTRA said it will suspend all new staking unbonding transactions for seven days to prevent further damage from private-key theft attacks involving Web3Auth and Keplr wallets. The project said unbonding processes already underway are not subject to the halt. MANTRA added that affected users must redelegate before the eight-day unbonding process is completed if they want to prevent hackers from receiving tokens and transferring them to external addresses. It said any unbonding initiated after redelegation will remain paused until the emergency measure is lifted, and added it will review the policy after seven days and may impose additional suspension measures.

Strategy CEO Phong Le criticized the company’s exclusion from MSCI indexes in an interview with CNBC, saying only about 3% of Strategy shares are tied to MSCI indexes, so the impact on the company is limited. Le said MSCI has opposed digital assets for years and appears to view BTC as unsuitable for investment, adding that the bigger issue is MSCI’s attempt to arbitrarily pick winners and losers in the market.

JPMorgan Chase, the largest U.S. bank, held about $540 million worth of spot Bitcoin ETFs at the end of the third quarter, according to its third-quarter 13F filing with the U.S. SEC. As of Sept. 30, BlackRock’s spot Bitcoin ETF IBIT position stood at 11.4 million shares, up 9.6% from the previous quarter. JPMorgan also held 1.58 million shares of Coinbase stock, along with stakes in crypto-related companies including Robinhood, Core Scientific, MARA Holdings and Riot Platforms. CoinNess previously reported JPMorgan added 224,545 shares of Strategy (MSTR), worth about $25.5 million, in the third quarter.

Bitcoin fell as low as $67,500 today, retesting support at the 200-week simple moving average of $67,993 on the weekly candlestick chart, according to a Cointelegraph analysis. It was the first time BTC had touched the trendline in about 11 weeks since Aug. 19. Keith Alan, co-founder of crypto market analytics firm Material Indicators, warned the BTC 200-week SMA is overlapping with a key RSI support and resistance zone. Alan said the weekly RSI has now fallen to around 41.5, a level that also acted as support in late July, and added that if the weekly RSI drops below 41.5, the door would open to a retest of the cycle low at $57,700.

LD Capital founder Jack Yi, a cryptocurrency investor with Chinese roots, said on X that traders should respond quickly to market conditions rather than aggressively maintaining leveraged positions in the current crypto market. Yi said he entered a long position after confirming an uptrend when BTC was at $77,000, but later closed the position after U.S. stocks weakened and BTC quickly fell to the $78,000-$79,000 range after moving above $80,000. Yi added that macroeconomic conditions are not favorable at present, and said investors need to stay on the sidelines until market uncertainty eases. He also said missing some upside opportunities is preferable to rushing to buy the dip in a falling market.

Bitcoin could face a liquidity squeeze even if the U.S. Federal Reserve does not raise rates further, CryptoSlate said in an analysis. Citing research released by the Federal Reserve Bank of New York on Nov. 12, local time, the outlet said liquidity stress in the U.S. banking sector reached its highest level since 2014 as of the second quarter. It cited declines in banks’ liquid assets and a broader reliance on unstable funding structures as the main drivers. CryptoSlate added that if banks scale back lending, financial intermediaries could have less capacity to invest in risk assets, potentially transmitting liquidity pressure to Bitcoin. It added the assessment outlined a potential transmission path and did not mean an actual funding squeeze in BTC had already occurred.

Wall Street market maker Jane Street increased its holdings of Fidelity’s spot Bitcoin ETF, FBTC, by about eightfold in the third quarter, Cointelegraph reported, citing a U.S. SEC filing. Its FBTC position rose from about 887,000 shares at the end of the second quarter to 7.01 million shares at the end of the third quarter, with the stake valued at about $509 million. By contrast, its holdings of BlackRock’s spot Bitcoin ETF, IBIT, fell about 19% to 20.22 million shares from 24.88 million, although the position’s value increased to $957 million from $828 million as the share price rose. The report added that Jane Street also acquired about 9 million additional shares of the ARK 21Shares Bitcoin ETF, ARKB, and increased its holdings of BlackRock’s spot Ethereum ETF, ETHA, by 7.83 million shares. Jane Street had previously faced allegations that it drove BTC prices lower through algorithmic selling at 10:00 a.m. U.S. time each day.

BeInCrypto outlined five main reasons Bitcoin fell below $69,000. - The possibility of a Federal Reserve rate hike, which would reduce market liquidity - Confirmation that Strategy (MSTR) will be removed from the MSCI index - Lower demand following outflows from spot BTC ETFs - A deepening decline amid liquidations of leveraged long positions - Growing uncertainty over the passage of crypto bills as the U.S. Democratic Party could gain control of Congress

Bithumb, a South Korean crypto exchange, announced it has placed MAP Protocol (MAPO) on its delisting watchlist.

PenguinBase, a portal in the Creditcoin (CTC) multi-chain layer-1 blockchain ecosystem, announced the launch of a global beta service for GRID, an AI agent competition game. GRID is a card strategy game based on Texas Hold’em rules, but users do not play directly and instead let agents play on their behalf. The game also supports the Model Context Protocol (MCP), an open AI connectivity standard, allowing users to enter AI tools they already use without separate coding. Users can write strategies of up to 6,000 characters before a match and can revise them during gameplay. During the beta period, matches will be played with free chips, and global community events will also be held. Creditcoin said it plans to expand the lineup of ecosystem offerings built on PenguinBase.

Matt Cole, CEO of Bitcoin treasury accumulation company Strive (ASST), said BTC has reached its 200-week moving average at around $68,000, a level he described as historically favorable for long-term investors. In a post on X, Cole said Strive’s balance-sheet structure performs well in BTC downturns, as the company raises funds through preferred share issuance without debt and does not pledge its BTC holdings as collateral, leaving it with no margin call or forced-selling risk. He added that BTC price declines and weak annual returns can be difficult for many investors, especially those less familiar with Bitcoin’s volatility, but said his long experience as a BTC investor has helped him understand that volatility. Cole said Strive was designed not only to withstand volatility but to use it to create value for common shareholders. Ahead of 2027, he said he remains positive on BTC investment prospects and views the latest pullback as more than just an opportunity, describing it as a blessing. He added that the company has repeatedly used downturns over the past year to enhance shareholder value and believes it is time to do so again.

Taiwanese singer Jeffrey Huang, better known as Machi Big Brother, has been liquidated more than 2,100 times on Papertrade, a new perpetual futures DEX built on Hyperliquid, according to Lookonchain. Cumulative trading losses on the platform reached $2.22 million.

Cryptocurrency analyst Michaël van de Poppe, who has 820,000 followers, said on X he is buying BTC today. Van de Poppe said extreme pessimism has spread across the market, but during past bull markets, Bitcoin pullbacks were limited to around 20% despite various negative developments. He added that the current price sits in a key support zone slightly below the 200-day moving average and offers an attractive buying opportunity from a liquidity perspective. Van de Poppe also said a pattern in which BTC formed a bottom ahead of a Friday before a SpaceX IPO could repeat. He said BTC has lagged even as the Nasdaq rose sharply, widening the performance gap between the two assets, and he decided to buy because he expects that gap to narrow quickly.

Crypto analyst Darkfost said on X that Binance’s BTC taker buy/sell ratio fell to 0.85, the lowest level in more than a year. The monthly average of the indicator also dropped to 0.97, marking its lowest level since February. According to Darkfost, the data suggests selling pressure in the derivatives market is far outweighing buying interest. BTC has fallen about 17.5% from its recent high of $87,400, while investor pessimism has been spreading. Darkfost added that such extreme selling dominance tends to appear in the later stages of a downtrend, which could signal the potential for a short-term rebound.

BitMEX co-founder Arthur Hayes said on X that Flop Labs will launch its testnet on Nov. 24. He said anyone can use a GPU to participate as a miner or validator, and AI agents can also connect to the network. Hayes had previously said the Flop Labs testnet would run for 90 days, with the mainnet planned for launch in the first quarter of next year. Testnet participants can receive a FLOP airdrop.

Nasdaq-listed BTCS, which holds Ethereum as a core asset, sold some ETH below its purchase price to reduce liquidation risk tied to its borrowing on decentralized lending platform Aave, CoinDesk reported. According to BTCS’s quarterly report, the company had borrowed about $64.1 million on Aave as of Nov. 9, including interest. It had posted 46,676 ETH, worth about $99.3 million, as collateral, putting its collateral ratio at roughly 155% against the outstanding loan balance. BTCS said it sold part of its ETH at a loss to manage collateral levels and other health metrics tied to the loan, but did not disclose the exact amount sold or the realized loss from the transaction.