Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | November 2 - November 8, 2025

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Crypto Weekly Recap

Total crypto market cap: $3.41T

Crypto Fear & Greed Index: 20 (Extreme Fear)

BTC.D: 59.81%

Bitcoin:

• Weekly performance: -7.13%
• U.S. Spot BTC ETFs: -$1.21B
• Bitcoin is trading near $102,600 after opening at $110,586, with a $111,270 high (Nov 2) and $99,002 low (Nov 5) marking the first sub-$100K test in nearly a month.
• The Nov 5 breakdown triggered over $1.27B in crypto liquidations, mostly long positions, amplifying downside volatility before spot rebounded modestly above six figures.
• A rebound attempt on Nov 6 peaked near $104,340, but persistent sell walls at $104–105K capped recovery and defined resistance into the week’s close.
• US spot BTC ETFs saw outflows for 6 consecutive days, offset only briefly by +$240M inflow on Nov 6, but was hit by a $558.4M outflow on Nov 7.
• Bitcoin's long-term outlook remains cautious; historically, dropping below its 50-week SMA led to significant losses. Analyst Lennaert Snyder identified $102K as key short-term support.
• Speculation about a potential lack of rate cuts from the Federal Reserve and fears of an AI-driven market bubble are impacting investor sentiment.
• Analysts diverged as Galaxy cut its 2025 BTC target to $120K, while Bitwise and JPMorgan projected an institutional revaluation phase, with JPMorgan predicting an upside toward $170K.

Ethereum:

• Weekly performance: -11.41%
• U.S. Spot ETH ETFs: -$507.7M
• Ether slid from $3,908 to $3,460, with a volatile range between $3,916 and $3,060 as ETF outflows and macro headwinds crushed sentiment.
• Nov 4-5 triggered the capitulation, with price briefly wicked to $3,060, marking the lowest level since early September.
• Nov 6 saw a short-lived bounce after strong ISM Services data (52.4) revived the dollar and risk appetite, but upside faded as ETF redemptions resumed.
• Nov 6’s marginal inflow (+$12.5M) provided temporary stabilization, hinting at dip-buying before risk aversion returned into the Friday session.
• A $100M+ Balancer V2 exploit on Nov 3 compounded the DeFi selloff, pulling TVL lower and triggering deleveraging across Ethereum-based protocols.
• Ethereum's dominance in the stablecoin market has surged, with the total supply on its network reaching a record $184.1 billion (Token Terminal), indicating a significant liquidity shift.
• Ethereum stablecoin transactions surged to a record $2.8 trillion in October (The Block's data), a 45% monthly increase driven by traders seeking yield during market downturns.
• The Ethereum validator queue has continued to grow, with approximately 1.5 million waiting to enter the staking system while 2.45 million ETH sits in the exit queue as validators exit.
• Analysts framed ETH’s weakness as flow-driven, noting that until ETFs stabilize, Ethereum’s Fusaka (PeerDAS) upgrade set for Dec 3 is unlikely to attract front-running bids.

Others:

• U.S. Spot SOL ETFs: +$136.6M
• BitMine strengthened its “Alchemy of 5%” plan with an 82,000 ETH purchase.
• Hong Kong eased crypto restrictions, improving global liquidity and fueling RWA tokenization goals.
• Forward Industries approved a $1 billion buyback after expanding its Solana treasury to $1.65 billion.
• Metaplanet secured a $100 million Bitcoin-backed loan to grow its treasury during the market downturn.
• Samourai Wallet’s co-founder received a five-year sentence and a $250,000 fine in the U.S. crypto privacy crackdown.
• A Columbia University study revealed that about 25% of Polymarket’s trading volume was likely artificial.
• 21Shares and Franklin Templeton set off the SEC countdown for Spot XRP ETFs, as Bitwise accelerated its Dogecoin Fund for a late-November launch.
• Monad announced its airdrop schedule and public mainnet launch date.
• Gemini confirmed plans to list on-chain prediction market contracts.
• Crypto.com teamed up with Hollywood.com to introduce a crypto-based prediction market.
• Robinhood said it was evaluating the pros and cons of starting a Bitcoin treasury.
• 71% of hedge funds planned to increase Bitcoin exposure in 2025, according to AIMA.
• YouTube clarified its new policy didn’t impose a blanket ban on crypto content.
• Moonwell suffered an exploit just one day after the Balancer hack.
• The synthetic stablecoin USDX depegged below $0.60, prompting PancakeSwap and Lista to monitor the issue.

DeFi Crisis: $128M Balancer Exploit Triggers $221M Contagion Across Stream, Compound, and Elixir

In a severe DeFi contagion from November 3 to 6, 2025, Balancer's $128 million exploit triggered a chain reaction impacting Stream Finance, Compound, and Elixir. Stream lost $93 million, leading to a 76% collapse of its XUSD stablecoin. Compound paused key stablecoin markets due to oracle distortions tied to Stream's crisis, while Elixir halted deUSD transactions, heavily affected by Stream's liquidation risk. Together, these events revealed over $221 million in interlinked losses and underscored the vulnerability of decentralized markets, challenging their resilience against systemic risks and drastically affecting DeFi's overall market valuation.

Ripple Raises $500 Million at $40 Billion Valuation to Expand Crypto Services Amid Wall Street Backing

Ripple has raised $500 million at a $40 billion valuation, led by Fortress Investment Group and Citadel Securities, marking one of the largest private crypto raises this year. The funding aims to expand its services in custody, stablecoins, and prime brokerage, reflecting a shift towards integrating traditional finance with digital assets. Ripple's payment volume exceeds $95 billion, managing 75 regulatory licenses globally. Recent acquisitions include GTreasury and Rail, aligning with its ambition to become a comprehensive financial infrastructure provider. This investment underscores growing institutional confidence in crypto amid a stabilizing market and evolving regulatory landscape.

Strategy Inc. Doubles Euro-Denominated STRE Offering to €620M, Expanding Bitcoin Purchase Capacity

Strategy Inc. has doubled its issuance of Euro-denominated preferred shares to €620 million ($715 million) to bolster Bitcoin purchases amid rising demand for high-yield securities. Each €100 share offers a 10% annual dividend, potentially increasing to 18% if payments are deferred. The company now holds 641,205 BTC, with an average cost basis of ~$74,057 per coin. Recent quarterly revenue was $128.69 million, with a year-to-date Bitcoin yield at 26%. Despite mixed market reactions, the STRE launch signals Strategy's ambition to expand its Bitcoin treasury strategy into European institutional markets, albeit with diluted returns compared to earlier offerings.

Kazakhstan to Launch $1 Billion Crypto Reserve Fund by 2026 Using Seized Assets

Kazakhstan is set to launch a national crypto reserve fund valued between $500 million and $1 billion by early 2026, utilizing seized and repatriated assets along with profits from state-backed mining. The fund, overseen by the Astana International Financial Centre (AIFC), will invest in ETFs and crypto firms instead of holding digital tokens directly. This initiative aims to enhance economic sovereignty and diversify national reserves away from oil dependence. It marks Kazakhstan's formalized approach to crypto policy, transforming previously dormant assets into active financial capital, and could influence regional digital finance flows significantly.

Zcash Surges to $10.9 Billion Market Cap Amid Growing Institutional Interest in Privacy Tokens

Zcash (ZEC) has surged to a $10.9 billion market cap, rising over 25% in 24 hours and 750% since early October, amidst heightened institutional interest and new KYC regulations. The privacy-token sector grew to $29.9 billion, outperforming the broader crypto market significantly. Zcash’s shielded pool holds 4.9 million ZEC, reflecting a shift towards privacy. With renewed attention from notable figures, ZEC’s rally has catalyzed similar gains in related assets. Analysts emphasize this trend as a shift towards digital privacy as a core value, although caution against potential reversals due to volatility in major cryptocurrencies.

Binance Denies Trump Stablecoin Links Amid GIGGLE and ASTER Market Volatility

Binance CEO Richard Teng denied any connection to the Trump-linked stablecoin USD1, amid market volatility influenced by various tokens. The GIGGLE token, initially at $24 million, surged to $277 million before dropping to $60 million; Binance pledged half its trading fees to Giggle Academy. Conversely, ASTER plummeted 20% after an anti-CZ whale profited from shorting it post-CZ's personal purchase disclosure. Additionally, Wintermute denied legal action rumors against Binance following a significant market crash. Overall, the cryptocurrency market reflects heightened investor fatigue, driven by political ties and celebrity influences impacting asset prices and sentiment.

Bankman-Fried Appeals Conviction; FTX Trust Withdraws Controversial $800M Repayment Plan

Sam Bankman-Fried’s appeal, filed on November 4 in the U.S. Second Circuit Court of Appeals, argues he was presumed guilty before charges and that trial judge Lewis A. Kaplan restricted key evidence undermining his defense. The appeal contends the prosecution failed to address FTX’s alleged solvency and customer repayment capacity, with crucial financial data excluded. Concurrently, the FTX Recovery Trust withdrew a controversial repayment proposal affecting $800 million in claims from 49 countries after backlash from over 300 Chinese creditors. FTX’s estate, worth approximately $16 billion, highlights ongoing issues of fairness following the exchange’s collapse.

Google Integrates Prediction-Market Data from Polymarket and Kalshi into Search

Google has integrated real-time prediction-market data from Polymarket and Kalshi into its Search and Finance tools, allowing users to access market-implied probabilities for events like U.S. recession chances and presidential elections. This rollout, confirmed on November 6, 2025, follows record trading volumes of over $7 billion from both platforms in October 2025. Kalshi reported $4.4 billion while Polymarket reached $3.02 billion, with significant user engagement. The integration aims to provide fluid, crowd-sourced insights, bridging traditional finance with decentralized forecasting, thus enhancing consumer access to dynamic market sentiment amid Google’s extensive search reach.

Coinbase Europe Fined €21.46 Million for Failing to Monitor €176 Billion in Transactions

Coinbase Europe was fined €21.46 million by the Central Bank of Ireland for anti-money laundering failures, marking a significant enforcement action in the crypto sector. From April 2021 to March 2025, the firm failed to monitor over 30 million transactions worth €176 billion due to coding errors, affecting 31% of its total volume. Despite filing 2,708 suspicious transaction reports, regulators noted that 184,790 transactions went unreviewed, creating opportunities for criminal activity. Coinbase admitted the violations, fixed the issues, and strengthened compliance systems, underscoring the critical need for robust monitoring in the rapidly evolving crypto landscape.

Tether Expands Bitcoin Holdings by $97 Million, Totaling $8.84 Billion as Market Pulls Back

Tether has expanded its Bitcoin treasury by acquiring 961 BTC for approximately $97 million, raising its total holdings to 87,296 BTC valued at about $8.84 billion. With an average purchase price of $49,121 per BTC, Tether's unrealized gains stand at around $4.55 billion. Analysts view the purchase as both a strategic accumulation during market pullbacks and a rebalancing effort, highlighting Tether’s commitment to enhancing its portfolio with hard assets. This transaction reinforces Bitcoin’s status as a reserve-grade asset amid ongoing liquidity stress and reflects broader institutional buying trends in the current market climate.