gm 16/11

Summary
gm, Bitcoin briefly fell below $95,000 amid growing uncertainty about a December Fed rate cut, driving the Fear & Greed Index to a nine-month low of 10. Despite this downturn, some institutional players strengthened their positions, with Harvard University tripling its Bitcoin ETF holdings to $443 million and BlackRock successfully tokenizing a $2.5 billion fund now listed as collateral on Binance. Meanwhile, liquidity concerns persist following October's crash, with market depth for Bitcoin down nearly one-third, while Tether continues diversifying beyond crypto with reported plans to invest $1.16 billion in AI-powered robotics firm Neura. Alibaba announced a partnership with JPMorgan to use blockchain for tokenized dollar and euro payments, highlighting ongoing institutional adoption of blockchain technology despite broader market volatility.

News Headlines
💹 XRP Price Plunges 7%, but Will XRPC ETF Rise on Second Day?

• XRP experienced a significant 7.3% drop to around $2.30 due to broader market declines and institutional sell-offs, coinciding with the launch of Canary Capital's XRPC, the first U.S. spot XRP ETF, which initiated with $58M in trading volume.
• The breakdown breached key support levels at $2.36, $2.40, and $2.46, with traders now focused on maintaining support at $2.29 to avoid a further drop into the $2.00-$2.20 range.

📉 How Low Bitcoin (BTC) Price Can Fall? Analyst Sets $84K as Downside Target

• Bitcoin's price has fallen below $95,000, marking its worst performance in eight months with a nearly 9% decrease this week, attributed to an 'information vacuum' caused by extended uncertainties in U.S. economic conditions.
• Ledn's Chief Investment Officer, John Glover, has set a downside target for Bitcoin at $84,000, citing technical breakdowns below key support levels, though he notes a return above $100,000 could occur before prices dip below $90,000.

🚀 Michael Saylor Denies Bitcoin Sale Rumors, Says Strategy's BTC Buys Are 'Accelerating'

• Michael Saylor, founder and Executive Chairman of Strategy, asserted that the firm's Bitcoin purchases are "accelerating" and dismissed rumors of the company selling Bitcoin despite recent market fluctuations.
• Despite Strategy's stock price dropping 32% over the past month, Saylor confirmed that the company continues buying Bitcoin and has recently issued preferred stock to fund these acquisitions without diluting common shareholders.

💰 Ethereum Holders More Willing Than Bitcoin Investors to Part With Coins: Glassnode

• According to Glassnode, Ethereum holders are more active in moving, selling, and spending their digital coins compared to Bitcoin investors, who tend to hoard their coins like "digital gold".
• Long-term ETH holders mobilize their coins at a rate three times faster than their Bitcoin counterparts, reflecting ETH's broader use in decentralized applications and smart contracts versus Bitcoin's role as a speculative and storage-focused asset.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
📚 Epstein Emails Reveal Interest in Crypto Regulation

• Newly revealed emails show Jeffrey Epstein sought help from Steve Bannon regarding U.S. crypto tax and regulatory policy shortly before his death in 2018.
• Epstein advocated for the Treasury to create disclosure forms for taxable crypto gains to combat illicit activities, indicating his desire to influence early crypto policy discussions during the Trump administration.

💧 Crypto Liquidity Crisis Persists After October Crash

• Bitcoin and Ethereum continue to show diminished market depth, with BTC's average cumulative market depth falling nearly one-third since early October.
• Analysts warn this "new, thinner liquidity regime" makes markets vulnerable to pronounced price swings, where routine trades could trigger significant volatility.

🏛️ Senate Agriculture Committee Releases Crypto Market Structure Draft

• A new draft bill aims to regulate digital commodities through the CFTC, defining digital assets and establishing oversight mechanisms, though several areas still lack consensus among lawmakers.
• The industry has welcomed this progression toward a comprehensive regulatory framework, but concerns remain about CFTC's resources, commissioner balance, and potential conflicts of interest.

🏀 NBA Star Predicts Transformation of Sports Betting Through Prediction Markets

• Tristan Thompson forecasts that prediction markets like Polymarket will revolutionize sports gambling, potentially becoming integrated into live broadcasts with real-time odds.
• As partnerships form between sports organizations and prediction platforms, regulatory discussions intensify around the $99 billion Americans wagered through sportsbooks recently.

Technical Analysis
Bitcoin - Bitcoin has broken down through the floor of the falling trend channel in the short term, which signals an even stronger falling rate. The negative development, however, may give rise to short term corrections up from today's level. There is no support in the price chart and further decline is indicated. In case of a positive reaction, the currency has resistance at 110000 points. Volume has previously been low at price tops and high at price bottoms. Volume balance is also negative, which confirms the trend. The short term momentum of the currency is strongly negative, with RSI below 30. This indicates increasing pessimism among investors and further decline for Bitcoin. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The RSI curve shows a falling trend, which supports the negative trend. The currency is overall assessed as technically negative for the short term.

Ethereum - Investors have accepted lower prices over time to get out of Ethereum and the currency is in a falling trend channel in the short term. Falling trends indicate that the currency experiences negative development and falling buy interest among investors. The currency has met the objective at 3184 after the break of the rectangle formation. The price has now risen again, but the formation indicates a further fall. There is no support in the price chart and further decline is indicated. In case of a positive reaction, the currency has resistance at 3830 points. Volume has previously been low at price tops and high at price bottoms. Volume balance is also negative, which confirms the trend. The currency is overall assessed as technically negative for the short term.