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Cathie Wood, CEO of Ark Invest, has maintained the view that BTC will deliver higher returns than gold despite Bitcoin’s recent weakness, according to an Ark Invest tracker. Wood said gold prices are likely to fall while BTC will strengthen relative to gold. Wood also said the correlation between BTC and gold has been just 0.1 since 2019, indicating the two assets do not necessarily move in the same direction.

Bitcoin fell below Strategy’s average purchase price, bringing its unrealized loss to about $500 million, The Defiant reported. As of 9:54 p.m. UTC on Nov. 8, Coinbase data showed BTC at $74,862.89, below Strategy’s average cost basis of $75,451. Strategy also said it had not pledged its BTC holdings as collateral as of the quarter ended Sept. 30 and had secured $4.79 billion in reserves as of Nov. 1 for preferred dividend and interest payments.

Binance spot whale trading flows are showing a pattern similar to the 2022 bear market, raising the risk of further market shocks, according to crypto analyst and content creator Mignolet. Mignolet said BTC’s risk-reward profile has favored long positions over shorts since a sharp rebound in late August. At the same time, Mignolet said the market has not gone through enough accumulation for a full-fledged uptrend, meaning a meaningful rally could still take considerable time. Mignolet added this was why all BTC holdings were sold in late September. Mignolet also said buying by Binance spot whales has steadily weakened since early October. In 2022, whale cumulative volume delta, or CVD, moved sideways within a range before breaking below the lower end, followed by the Terra-Luna collapse, Celsius, and Three Arrows Capital, or 3AC, crises, Mignolet said. Mignolet added that whale buying has now weakened sharply while BTC has broken below the lower end of a roughly one-year trading range, warning that if whale selling continues, the market should stay alert to the possibility of unexpected negative developments.

Bitcoin is showing a pattern similar to the early stage of the 2023 bull market and may be heading into major volatility, according to crypto analyst Sykodelic. Sykodelic said both then and now, the market showed cycle-bottom signals, a recovery of the 200-day moving average, a daily RSI break above 85, and a pullback after a bull-market signal was confirmed. The analyst added BTC’s relative strength index is now approaching oversold territory, while the 200-day moving average remains a key support level. If Bitcoin holds that level, further gains may be possible, but a break below it could trigger a sharp drop. Sykodelic said the current phase appears to be an early bull-market stretch marked by higher lows, offering attractive risk-reward conditions. With liquidity having built up during the weekend’s sideways trading, the analyst expects both upside and downside moves in the short term before a clearer direction emerges, with the broader trend likely to become clearer this week.

South Korea is expected to unveil the government’s draft of its basic law on digital assets this month, with growing support for a grace period before enforcing limits on major shareholders’ stakes in crypto exchanges, Segye Ilbo reported. The bill is set to cover areas not addressed under the current legal framework, including the issuance and distribution of stablecoins, licensing requirements for virtual asset service providers, and exchange governance structures. Under the proposal, stablecoins would be issued by banks, while exchanges would likely be given a one- to two-year grace period to adjust their ownership structures. According to the report, some also see capping voting rights rather than ownership stakes as an alternative, amid constitutional concerns such as potential property rights violations.

Jeffrey Huang, a Taiwanese singer better known as Machi Big Brother, saw his roughly $1.18 million ETH long position fully liquidated amid a sharp drop in Ethereum. The liquidation involved about 540 ETH at an average liquidation price of $2,192, for an estimated loss of about $60,000. His Hyperliquid account balance now stands at zero.

Major exchanges have seen $685 million worth of futures liquidated in the past hour. In the past 24 hours, $761 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $74,000. BTC is trading at $73,730.33 on the Binance USDT market.

DOGE has fallen by 3.16% in the past five minutes on the COINNESS market. Currently, DOGE is trading at $0.07.

SOL has fallen by 2.91% in the past five minutes on the COINNESS market. Currently, SOL is trading at $85.55.

XRP has fallen by 2.71% in the past five minutes on the COINNESS market. Currently, XRP is trading at $1.11.

ETH has fallen by 4.48% in the past five minutes on the COINNESS market. Currently, ETH is trading at $2,114.67.

ETH has fallen by 2.15% in the past five minutes on the COINNESS market. Currently, ETH is trading at $2,166.26.

According to CoinNess market monitoring, BTC has fallen below $75,000. BTC is trading at $74,928.02 on the Binance USDT market.

BCH has fallen by 3.65% in the past five minutes on the COINNESS market. Currently, BCH is trading at $247.47.

Bitcoin is showing a pattern on the weekly chart similar to the one seen before the 2023 rally gained momentum, according to cryptocurrency analyst Ash Crypto. Ash Crypto said BTC in 2023 moved sideways between its 50-week moving average and 100-week moving average before breaking above upper resistance and starting a rally. BTC then faced resistance once at the 100-week moving average, but rebounded after finding support at the lower end of the range and continued higher, the analyst said. A similar range now appears to be forming in 2026, with key support seen at the 50-week moving average of $75,500 and the 200-week moving average of $67,800, while likely resistance stands at $82,000 and near the 100-week moving average at $87,400. The relative strength index, or RSI, is also near 50 and resembles the 2023 setup, Ash Crypto said, adding this technical similarity is hard to ignore, although the most important factor is whether Bitcoin can hold those support levels. BTC was trading at $75,837.29, down 0.01%, at the time of writing.

Bitcoin’s bear market may be signaling further declines in risk assets including gold and stocks, Bloomberg Intelligence macro strategist Mike McGlone said. McGlone said Bitcoin has entered a downtrend based on its 50-week moving average, while gold is also nearing a turn lower. Gold’s annualized volatility is now about 2.2 times that of the S&P 500, the highest level since 2007, he said. McGlone added Bitcoin’s bear market suggests S&P 500 volatility could revert to its usual one-to-one relationship with gold, making Bitcoin’s weakness a possible precursor to further declines in equities and gold.

The cryptocurrency industry could face setbacks to its regulatory agenda and possible congressional investigations after Democrats won the U.S. midterm elections and took control of both chambers of Congress, Bloomberg reported. The outlet said Democrats are expected to closely examine business ties between the crypto industry and President Donald Trump and his family, while pushing for stricter ethics rules and stronger consumer protections that could slow legislation backed by the industry. Bloomberg added the industry’s lobbying efforts in Washington could also face a backlash. Still, it said it may be difficult to reverse existing policy gains because the GENIUS Act, a stablecoin regulation bill, has already been enacted and regulatory framework efforts by the SEC and CFTC are already underway.

Bitcoin closed lower 30 days after a Federal Reserve rate hike in all seven cases since 2016 where the Fed raised rates at the meeting after holding them steady once, according to an analysis by Crypto Briefing. Crypto Briefing added that the median decline across the seven historical cases was 2.4%. The outlet said the Fed raised rates on Sept. 16, then held them steady at its Oct. 28 meeting, while markets are pricing in about a 67.5% chance of another rate hike on Dec. 9. It also said that in past cases where Bitcoin had fallen more than 5% in the 30 days before a rate hike, it recovered to a higher price level 90 days later only once out of seven cases.

An increase in U.S. bank reserves has not translated into buying demand for Bitcoin, according to a CryptoSlate analysis. Banks’ reserve balances deposited at the Federal Reserve stood at $2.96 trillion as of Nov. 4, local time, up $67.5 billion from a week earlier, while the circulating supply of dollar-pegged stablecoins fell 1.91%, or about 5.7 billion tokens, over the same period, the outlet said. Tether’s USDT supply fell by 3.65 billion, accounting for 63.37% of the total decline. CryptoSlate said the two indicators alone do not fully explain the subsequent selling pressure in Bitcoin, and changes in liquidity could still affect the market with a lag. Still, the drop in stablecoin supply alongside Bitcoin’s decline shows bank liquidity growth clearly failed to act as a bullish catalyst for the cryptocurrency, it added.

Jurrien Timmer, director of global macro at U.S. asset manager Fidelity, said he prefers Bitcoin to gold. Timmer added that although both assets are facing selling pressure, Bitcoin’s price is holding up relatively well, and he continues to favor Bitcoin over gold for now.

The U.S. Treasury has imposed financial sanctions on eight Canada-based money services businesses over alleged dealings with Iranian entities under sanctions, Cointelegraph reported. Treasury said the firms helped convert fiat currencies, including the Iranian rial, into cryptocurrency and supported transactions involving sanctioned Iran-based exchanges and crypto addresses linked to Iran’s Islamic Revolutionary Guard Corps, or IRGC. The action was carried out in coordination with the Financial Transactions and Reports Analysis Centre of Canada, or FINTRAC. U.S. Treasury Secretary Scott Bessent said the department would track down and cut off financial intermediaries that help the Iranian regime and its proxies evade sanctions anywhere in the world. Separately, on Nov. 6, the U.S. Treasury’s Financial Crimes Enforcement Network, or FinCEN, announced it had blocked crypto exchange MEXC from the U.S. financial system over sanctions evasion tied to Iran, North Korea and Russia.

U.S. spot XRP ETFs failed to record net inflows on any day this week. According to SoSoValue, the only product with any change in fund flows was Canary Capital’s XRP ETF, XRPC, which posted a $529,500 net outflow on Nov. 2. From Nov. 3 through Nov. 6, all spot XRP ETFs recorded zero net inflows or outflows for four straight trading days. Bitcoin.com said spot XRP ETFs had previously posted net inflows for 12 consecutive weeks, but fund inflows have slowed sharply as investor demand has recently weakened.

Bitcoin could drop to $60,000 if it falls below $73,000, the midpoint support of its box-range channel on the three-day candlestick chart, crypto analyst Ali Martinez said. Martinez added ETH has broken below the lower support line of an expanding triangle pattern on the daily chart and could fall further to $1,963 if it does not quickly reclaim $2,385. XRP has also broken below the midpoint support of its sideways box-range channel on the three-day chart, at around $1.29, leaving $0.99 as the next major support zone, he said.

Crypto market maker Wintermute is estimated to have generated cumulative trading profit of $222 million on decentralized perpetual futures exchange Hyperliquid, according to an analysis by on-chain analyst Onchain Lens. Onchain Lens identified a specific trading address believed to belong to Wintermute and said the address currently holds $125.87 million in open positions, including $115.76 million in short positions. Over the past 30 days, the address posted $18.83 million in profit and loss, with unrealized profit and loss at $3.46 million. Its main short positions include ETH at $26.16 million, BTC at $19.79 million, HYPE at $15.23 million and SOL at $12.72 million.