XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) is back above $2.30 on Friday, as buyers stepped in at a key support zone that has repeatedly halted <a href="https://www.benzinga.com/money/ripple-xrp-price-prediction">selling pressure this week</a>.



<h3 class="wp-block-heading">Buyers Step In At Critical Support</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134043/image-158-1024x694.png" alt="" class="wp-image-1154263" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134043/image-158-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134043/image-158-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134043/image-158-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134043/image-158-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134043/image-158.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/XRPUSD/">XRP Price Analysis (Source: TradingView)</a>



XRP rebounded from the $2.20–$2.25 region, a demand block that has served as structural support since June.



On the daily chart, XRP remains capped by the descending trendline from July highs.



Each rally since then has failed near the 20, 50, 100, and 200-day EMAs, which now cluster tightly between $2.43 and $2.67.



This zone has acted as a ceiling for over a month, keeping the broader structure in correction mode.



A decisive close above $2.43 would be the first signal that buyers have regained control and that the market may transition into a breakout phase.



Also, for trend reversal confirmation, price must flip the Supertrend level at $2.69.



<h3 class="wp-block-heading">Short-Term Structure Turns Bullish</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134456/xrp-bz-7th-nov-1024x694.png" alt="" class="wp-image-1154271" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134456/xrp-bz-7th-nov-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134456/xrp-bz-7th-nov-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134456/xrp-bz-7th-nov-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134456/xrp-bz-7th-nov-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134456/xrp-bz-7th-nov.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/XRPUSD/">XRP Short-Term Price Action (Source: TradingView)</a>



From an intraday perspective, XRP reclaimed $2.27, and the Parabolic SAR flipped bullish, which pushed the price above VWAP, triggering short covering.



Momentum has accelerated as buyers formed a sequence of higher lows, marking a transition away from the prior downtrend.



<h3 class="wp-block-heading">Spot Flows Indicate Accumulation</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="254" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134043/image-158-1024x254.png" alt="" class="wp-image-1154265" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134043/image-158-1024x254.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134043/image-158-300x74.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134043/image-158-768x191.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134043/image-158-1536x381.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07134043/image-158.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://www.coinglass.com/currencies/XRP/spot">XRP Netflows (Source: Coinglass)</a>



According to CoinGlass, XRP recorded about $4 million in positive net inflows today after weeks of persistent outflows.



This indicates that holders are moving tokens onto exchanges, often a sign of renewed buying interest rather than distribution.



When XRP sees inflows at key support zones, short-term continuation tends to follow.



<h3 class="wp-block-heading">Key Levels To Watch</h3>



Upside targets sit at $2.43, then $2.69, with a potential extension toward $2.90 if the breakout confirms.



On the downside, a loss of $2.20 would invalidate the current rebound and expose $1.80–$1.90.



For now, the structure favors buyers, but the next move depends on whether XRP can secure a close above the EMA cluster that defines the top of its compression range.



Read Next: 



<ul class="wp-block-list">
<li>​​<a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48727622/dogecoin-up-12-in-24-hours-the-start-of-the-doge-comeback">Dogecoin Up 12% In 24 Hours: The Start Of The DOGE Comeback?</a></li>
</ul>



Image: Shutterstock

XRP Surges 5% On Friday: Why Is It Up Today?

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) is up over 12% over the past 24 hours, as buyers defended a key demand zone and halted a <a href="https://www.benzinga.com/money/dogecoin-doge-price-prediction">multi-day losing streak</a>.



<h3 class="wp-block-heading">Buyers Defend Long-Term Support Zone</h3>



<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07121922/image-157-1024x250.png" alt="" class="wp-image-1154100"/></figure>



<a href="https://in.tradingview.com/symbols/DOGEUSD/">DOGE Price Action (Source: TradingView)</a>



The daily chart shows that Dogecoin remains trapped below a descending trendline stretching from the early-October highs.



Every attempt to reclaim major EMAs has failed so far.



These EMA's, clustered between $0.185 and $0.214, form a thick resistance ceiling that price must break to confirm a trend reversal.



Despite today's rebound, sellers have controlled most rallies over the past month.



Each short-term bounce into the moving averages met heavy selling, sending DOGE back to the $0.150–$0.158 liquidity band that has acted as accumulation support since May.



Losing that zone would expose lower levels near $0.140, where demand reappeared in previous corrections.



<h3 class="wp-block-heading">Short-Term Momentum Turns Positive</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07122018/DOGE-BZ-7TH-NOV--1024x694.png" alt="" class="wp-image-1154101" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07122018/DOGE-BZ-7TH-NOV--1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07122018/DOGE-BZ-7TH-NOV--300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07122018/DOGE-BZ-7TH-NOV--768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07122018/DOGE-BZ-7TH-NOV--1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07122018/DOGE-BZ-7TH-NOV-.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/DOGEUSD/">DOGE Price Analysis (Source: TradingView)</a>



On the 1-hour chart, momentum has started to shift in favor of buyers.



The Supertrend indicator flipped bullish, while the RSI climbed into overbought territory near 70, showing renewed strength.



Fast-moving traders are targeting the descending trendline near $0.185, aiming for the first meaningful test of resistance since October.



A confirmed breakout above that level could trigger a rotation toward $0.20, the next major psychological barrier.



<h3 class="wp-block-heading">DOGE Exchange Flows Reveal Strength Of Long Term Holders</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07121922/image-157-1024x250.png" alt="" class="wp-image-1154099" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07121922/image-157-1024x250.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07121922/image-157-300x73.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07121922/image-157-768x188.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07121922/image-157-1536x375.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07121922/image-157.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://www.coinglass.com/currencies/DOGE/spot">DOGE Netflows (Source: Coinglass)</a>



On-chain data from CoinGlass shows persistent negative spot netflows, including –$10.95 million today.



That means more coins are leaving exchanges than entering, which often reduces liquidity and signals longer-term holding.



In strong uptrends, the opposite usually occurs as traders move tokens onto exchanges to sell into strength.



<h3 class="wp-block-heading">Key Levels To Watch</h3>



Holding $0.158 keeps the accumulation structure intact and supports a continued rebound.



A breakout above $0.185 would confirm trend reversal and open the path to $0.20.



Failure to hold $0.158 would shift focus toward $0.140, where prior support last emerged.



Heading into the weekend, Dogecoin faces a binary setup: either a breakout through the descending trendline or another slide back to its demand zone.



Read Next: 



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<li><a href="https://www.benzinga.com/Opinion/25/11/48725610/nasdaq-dips-into-critical-support-zone-sentiment-shifts">Nasdaq Dips Into Critical Support Zone, Sentiment Shifts</a></li>
</ul>



Image: Shutterstock

Dogecoin Up 12% In 24 Hours: The Start Of The DOGE Comeback?

Zcash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/zec/usd">ZEC</a>) traded as high as $715 on Friday after soaring more than 30% in a single session, marking its strongest <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48683077/zcash-bests-eth-xrp-sol-with-1200-rally-in-3-months-next-stop-1000-arthur-hayes-says">breakout since 2018</a>.



<h3 class="wp-block-heading">Privacy Demand And Institutional Inflows Drive The Spike</h3>



The rally came as BitMEX co-founder Arthur Hayes <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48683077/zcash-bests-eth-xrp-sol-with-1200-rally-in-3-months-next-stop-1000-arthur-hayes-says">declared</a> yesterday, "See you at $1,000," fueling renewed interest in privacy tokens.



The network's optional privacy layer and selective transparency features have seen increased use, with shielded holdings up 15% this month to 4.96 million ZEC.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="254" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07111100/zec-bz-nf-1024x254.png" alt="" class="wp-image-1153977" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07111100/zec-bz-nf-1024x254.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07111100/zec-bz-nf-300x74.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07111100/zec-bz-nf-768x190.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07111100/zec-bz-nf-1536x380.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07111100/zec-bz-nf.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://www.coinglass.com/currencies/ZEC/spot">ZEC Netflows (Source: Coinglass)</a>



On-chain data from CoinGlass shows over $74 million in net inflows hitting exchanges on November 7, ZEC's largest single-day positive flow in years.



Such inflows often signal that institutional capital is rotating into the asset rather than short-term speculation.



<h3 class="wp-block-heading">Technical Structure Confirms Bullish Control</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07111109/zec-bz-chart-7th-nov-1024x694.png" alt="" class="wp-image-1153978" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07111109/zec-bz-chart-7th-nov-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07111109/zec-bz-chart-7th-nov-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07111109/zec-bz-chart-7th-nov-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07111109/zec-bz-chart-7th-nov-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07111109/zec-bz-chart-7th-nov.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/ZECUSD/">ZEC Price Action (Source: TradingView)</a>



Technically, ZEC has achieved a full bullish alignment across its 20, 50, 100, and 200-day EMAs, confirming a strong uptrend.



Each pullback since $300 found support at short-term EMAs, reinforcing buyer dominance.



The latest daily candle shows a full-body expansion bar above $700, reflecting sustained momentum rather than a fleeting spike.



The RSI has moved above 90, showing extreme strength but not yet signaling reversal risk.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07110957/image-156-1024x694.png" alt="" class="wp-image-1153973" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07110957/image-156-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07110957/image-156-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07110957/image-156-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07110957/image-156-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07110957/image-156.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/ZECUSD/">ZEC Short-Term Price Dynamics (Source: Tradingview)</a>



Intraday charts reveal that price continues to respect its trend channel, finding support near VWAP during brief retracements.



The Parabolic SAR remains below price, confirming that the uptrend remains intact.



<h3 class="wp-block-heading">Upcoming Halving Adds Fundamental Support</h3>



The November 2025 halving will cut Zcash's block rewards in half, tightening supply in a similar way to Bitcoin's halving cycle.



Historically, such events have supported upward price trends as emission declines and scarcity increases.



The narrative of growing privacy demand alongside a scheduled supply reduction has positioned ZEC as a top-performing cryptocurrency this quarter.



Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) trades near $3,275, down about 1.15%, while XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) holds around $2.20 and is down roughly 0.25%, reflecting broader market caution even as Zcash defies the trend.



<h3 class="wp-block-heading">Technical Levels To Watch</h3>



If ZEC holds between $650 and $680, the next upside target sits at $800.



A breakout above that level could open the path toward $1,000, where profit-taking is likely to increase.



Conversely, if ZEC loses $650, the next major support is near the 20-day EMA in the mid-$500s.



At current momentum, traders are closely watching whether consolidation or continuation follows this parabolic leg.



Read Next: 



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48722146/mstr-falls-to-230-despite-strategys-upsized-stock-offering">MSTR Falls To $230 Despite Strategy&#8217;s Upsized Stock Offering</a></li>
</ul>



Image: Shutterstock

Forget XRP And ETH—Zcash Today Pumped Yet Another 30%

Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSTR">MSTR</a>) announced an increase of a high-yield preferred offering to fund more Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) purchases, but MSTR shares plunged to $230 as traders <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48694788/michael-saylors-bitcoin-plan-has-a-cost-strategy-must-pay-689m-just-to-hodl">sold the news</a>.



<h3 class="wp-block-heading">Strategy Prices €620M Preferred Stock Offering</h3>



The company <a href="https://x.com/saylor/status/1986781317581713877?s=46&amp;t=dtWsObeL7omgVcC0SBL7hw">announced</a> it would issue 7.75 million shares of its 10.00% Series A Perpetual Stream Preferred Stock (STRE) at €80 ($92.60) per share.



Settlement is expected on Nov. 13, subject to customary closing conditions.



The sale will raise €620 million ($715 million) before costs, leaving about €609 million ($702 million) in net proceeds after underwriting fees and expenses.



Strategy said it plans to use the funds for general corporate purposes, including further Bitcoin acquisitions and working capital.



The preferred shares carry a 10% annual cumulative cash dividend, payable quarterly beginning Dec. 31, 2025.



If dividends are deferred, unpaid amounts accrue interest at an increasing rate up to 18% per year until settled.



Barclays (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BCS">BCS</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MS">MS</a>), Moelis &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MC">MC</a>), and TD Securities, a division of The Toronto–Dominion Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TD">TD</a>), are among the joint book-running managers.



The offering will not be marketed to retail investors in the European Union or the U.K., in line with regulatory restrictions.



<h3 class="wp-block-heading">High Yield, But Heavy Selling</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07094640/image-154-1024x694.png" alt="" class="wp-image-1153804" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07094640/image-154-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07094640/image-154-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07094640/image-154-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07094640/image-154-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07094640/image-154.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/NASDAQ-MSTR/">MSTR Price Forecast (Source: TradingView)</a>



Despite the high dividend, investors responded by selling MSTR stock aggressively.



Shares dropped through the $250–$260 demand zone that had provided multi-month support.



The breakdown continued into pre-market trading, with prices sliding toward $221.50.



Charts show the move has shifted from a temporary shakeout to a confirmed exit from the symmetrical triangle pattern that shaped price action since early 2025.



MSTR now trades below all key EMAs — turning them into stacked resistance levels.



This configuration signals that institutional inflows have paused and that rallies are being sold rather than accumulated.



The stock's weakness mirrors the ongoing pullback in Bitcoin, which <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48718044/bitcoin-drops-below-100000-as-eth-xrp-lose-5-and-92000-looms">recently</a> lost key support near $100,000 today.



Because of its leveraged exposure and treasury holdings, MSTR often amplifies Bitcoin's directional swings.



<h3 class="wp-block-heading">Technical Levels To Watch for MSTR</h3>



Immediate support lies near $220–$225, followed by a major downside target at $210–$215.



A failure to hold that range could expose the $190 pivot from earlier this year.



On the upside, recovery requires a close above $260, which would place price back within the prior consolidation zone and above the 20-day EMA.



Volume trends confirm active distribution, while the Parabolic SAR continues to trail above price, keeping momentum in sellers' hands.



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Image: Shutterstock

MSTR Falls To $230 Despite Strategy's Upsized Stock Offering

Block Inc.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XYZ">XYZ</a>) third quarter may not have been as clean as investors hoped, but JPMorgan analyst Tien-tsin Huang isn't losing faith. The analyst called the <a href="https://www.benzinga.com/quote/XYZ/earnings">third quarter results</a> "not as straightforward as hoped, but still solid overall," and reaffirmed his Overweight rating on the stock with a $100 price target, arguing that "the right energy and pieces are in place" for Block to achieve the coveted Rule of 40 by 2026.



<ul class="wp-block-list">
<li>Track XYZ stock <a href="https://www.benzinga.com/quote/XYZ">here</a>.</li>
</ul>



The company's quarter was a mix of momentum and margin noise — and yes, a $70 million company event that weighed on profitability. But Huang said the focus should be on improving trends in both Cash App and Square, which together form the backbone of Block's ecosystem.



Read Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48601127/tether-just-did-what-bitcoin-never-could-become-the-worlds-shadow-central-bank">Tether Just Did What Bitcoin Never Could — Become The World&#8217;s Shadow Central Bank</a>



<h2 class="wp-block-heading">Cash App Still Stealing The Show</h2>



Cash App once again did the heavy lifting. Gross profit jumped 24% year over year — a sharp acceleration from 16% in the second quarter — driven by a 21-basis-point rise in monetization and a 134% surge in Borrow originations. Monthly transacting actives finally ticked up to 58 million after six flat quarters, and primary banking users hit 8.3 million in September, with another 400,000 added in October alone.



"We're encouraged to see monthly transacting actives increase," Huang said, noting that the app's growth flywheel — Borrow, banking, and engagement — is spinning faster.



<h2 class="wp-block-heading">Square's Growing Slower, But Still Standing</h2>



Square's performance was softer, with gross profit up 9% and GPV up 12%, just ahead of forecasts. The margin drag from higher processing costs — tied to a new partner deal — continued to bite, but field sales momentum and mid-market strength offset some of the weakness. 



"We believe momentum across the ecosystems remains intact," Huang said, calling Square's execution encouraging even amid operational headwinds.



<h2 class="wp-block-heading">Why It Matters</h2>



The $70 million party might have trimmed the quarter's optics. Still, JPMorgan's view is simple: Block's ecosystems are accelerating, its user metrics are recovering, and its margins should normalize as temporary headwinds fade.



Investors hoping for a straight-line recovery won't find one here. But as Huang summed up, "we believe the right energy and pieces are in place." 



For Block, that's a bet that 2026 could finally bring both profitability and a little discipline after the celebration.



Read Next: 



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48662249/schiffs-ether-doom-call-slams-into-thiel-and-lees-bitmine-bets">Schiff&#8217;s Ether Doom Call Slams Into Thiel And Lee&#8217;s BitMine Bets</a></li>
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Photo: Shutterstock

Block Inc To Hit 'Rule Of 40' By 2026 Despite $70 Million Party, Says JPMorgan

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) sliced below $100,000 on Friday morning, giving sellers a clean runway toward the $92,000 demand zone.



<h3 class="wp-block-heading">Break Below $100,000 Triggers Renewed Selling</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07083102/btc-bz-7th-nov-1024x694.png" alt="" class="wp-image-1153660" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07083102/btc-bz-7th-nov-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07083102/btc-bz-7th-nov-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07083102/btc-bz-7th-nov-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07083102/btc-bz-7th-nov-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07083102/btc-bz-7th-nov.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/BTCUSD/">BTC Price Action (Source: TradingView)</a>



Bitcoin slipped after failing to reclaim the mid-range support near $102,500–$104,000.



Once that zone broke, sellers accelerated momentum, pushing price into the $99,000 area.



Unlike past rebounds from this demand block, buyers showed little urgency this time.



Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) trades lower near $3,237, while XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) holds around $2.18.



This signals broader weakness across major altcoins as sentiment turns defensive.



Bitcoin now trades below all major EMAs — the 20-day near $107,700, the 50-day around $110,800, the 100-day at $111,500, and the 200-day near $108,100.



These moving averages form a heavy resistance cluster, creating a difficult barrier for recovery attempts.



Bollinger Bands are also widening as price breaks lower, signaling a period of volatility expansion after weeks of compression.



<h3 class="wp-block-heading">Flows Confirm Shift In Market Control</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="258" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07083021/image-151-1024x258.png" alt="" class="wp-image-1153656" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07083021/image-151-1024x258.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07083021/image-151-300x75.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07083021/image-151-768x193.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07083021/image-151-1536x386.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07083021/image-151.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://www.coinglass.com/currencies/BTC/spot">BTC Netflows (Source: Coinglass)</a>



CoinGlass data shows another –$130 million net outflow from spot exchanges today as of Nov. 7.



More coins are being sent to exchanges rather than withdrawn, indicating holders are reducing exposure.



Selling pressure appears deliberate, with liquidity thinning below visible support levels.



The immediate support zone remains at $98,500–$100,000, a region that triggered sharp rebounds in June and July.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07084440/BTC-BZ-7TH-SHT-1024x694.png" alt="" class="wp-image-1153692" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07084440/BTC-BZ-7TH-SHT-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07084440/BTC-BZ-7TH-SHT-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07084440/BTC-BZ-7TH-SHT-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07084440/BTC-BZ-7TH-SHT-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07084440/BTC-BZ-7TH-SHT.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/BTCUSD/">BTC Short-Term Price Dynamics (Source: TradingView)</a>



However, today's reaction is subdued.



BTC price continues to hover near the level with weak impulse and frequent rejections below VWAP on shorter timeframes.



The Parabolic SAR also tracks above candles, reinforcing that sellers retain control during intraday moves.



<h3 class="wp-block-heading">Key Levels To Watch</h3>



If $98,500 breaks, Bitcoin could quickly slide toward $92,000–$92,500, which aligns with the June breakout retest.



This zone marks the top of a previous multi-week consolidation range.



With no structural support between current price and that area, downside continuation could unfold rapidly.



For buyers to regain control, Bitcoin must reclaim $104,000 and then clear the EMA wall between $108,000–$112,000.



Until that occurs, every rally remains a relief bounce inside a developing downtrend.



Read Next: 



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Image: Shutterstock

Bitcoin Drops Below $100,000 As ETH, XRP Lose 5% And $92,000 Looms

Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>) is down to $125 in premarket trading on Friday despite doubling revenue year-over-year and beating Wall Street's <a href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/11/48707084/robinhood-growth-shows-no-signs-of-slowing-down">third-quarter expectations</a>.



<h3 class="wp-block-heading">Strong Quarter Overshadowed By Leadership Uncertainty</h3>



The company on Thursday <a href="https://www.cnbc.com/2025/11/05/robinhood-hood-q3-2025-earnings.html">reported</a> $1.27 billion in revenue, beating analyst expectations of $1.19 billion.



Meanwhile, net income surged to $556 million, or 61 cents per share, compared with $150 million and 17 cents last year.



Transaction-based revenue reached $730 million, slightly below the $739 million StreetAccount forecast.



Chief Financial Officer Jason Warnick said it was "another strong period of profitable growth" as Robinhood added Prediction Markets and Bitstamp divisions.



Each new line now generates over $100 million in annualized revenue.



The company guided full-year expenses to the top end of its range, hinting at margin pressure.



The CFO's <a href="https://finance.yahoo.com/news/why-robinhood-hood-shares-falling-202610033.html">plan</a> to retire next year added to investor unease, fueling concerns over leadership continuity at a time when Robinhood is aggressively reshaping its business model.



<h3 class="wp-block-heading">Expanding Beyond Trading Toward Wealth Management</h3>



Robinhood continues to move beyond its retail trading roots, closing the gap with Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COIN">COIN</a>) through a push into full-scale wealth management.



The company now offers deposit-matching programs to attract clients from Fidelity and Charles Schwab.



Additionally, AUM has grown following the TradePMR acquisition.



<h3 class="wp-block-heading">Technical Levels Show Short-Term Weakness</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07065447/image-150-1024x694.png" alt="" class="wp-image-1153518" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07065447/image-150-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07065447/image-150-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07065447/image-150-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07065447/image-150-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07065447/image-150.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/NASDAQ-HOOD/">HOOD Price Action (Source: TradingView)</a>



Technically, HOOD's stock dropped sharply toward $127 after failing to hold support near the 20-day EMA.



The next major confluence zone sits between $124 and $120, aligning with the rising trendline support that has guided price action since May.



A decisive breakdown below $120 could expose the 100-day EMA near $115, while any rebound will face resistance at $130–$138, where the 20-day and 50-day EMAs converge.



Volume on the decline suggests firm selling rather than rotation, indicating that investors may be trimming exposure after the earnings catalyst.



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Image: Shutterstock

Robinhood Beats Earnings Expectations — Yet HOOD Drops 10%

Eric Trump, executive vice president of The Trump Organization, reiterated in an interview aired Wednesday his strong support for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and its potential to disrupt traditional financial institutions.



<h2 class="wp-block-heading">Bitcoin Challenges TradFi Dominance: Eric Trump</h2>



Appearing on the Full Send Podcast, Trump said that a million dollars&#8217; worth of BTC could be sent and received in seconds with practically &#8220;zero fees,&#8221; something that the biggest financial institutions are not too pleased about.



&#8220;They want to extract the fees. They want as many middlemen as humanly possible because that&#8217;s what keeps their 70-story buildings lit and alive and their CEOs making hundreds of millions of dollars a year,&#8221; Trump, who himself runs many companies, said.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Enjoyed it boys! <a href="https://twitter.com/hashtag/MakeAmericaGreatAgain?src=hash&amp;ref_src=twsrc%5Etfw">#MakeAmericaGreatAgain</a> <a href="https://t.co/HcOXHk1I8f">https://t.co/HcOXHk1I8f</a>&mdash; Eric Trump (@EricTrump) <a href="https://twitter.com/EricTrump/status/1986546842646024442?ref_src=twsrc%5Etfw">November 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Bitcoin Is Good For Humanity?</h2>



He added that Bitcoin is helping to bypass all these barriers.



&#8220;I think that&#8217;s a really good thing for humanity. It gives people financial freedoms that they could never otherwise have,&#8221; Trump remarked.



He admitted that individuals like him, with &#8220;leverage&#8221; and &#8220;size,&#8221; are better equipped to handle major financial institutions.



&#8220;Guess who doesn&#8217;t have leverage? People who don&#8217;t have properties. The mom and pop, the young student, the this and that. All of a sudden, crypto gives them financial freedoms,&#8221; he stated.



See Also:&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48675479/trump-says-biden-was-vicious-on-crypto-but-hes-ended-the-war-on-the-industry-it-was-terrible">Trump Says Biden Was &#8216;Vicious On Crypto&#8217; But He&#8217;s Ended The &#8216;War&#8217; On The Industry: &#8216;It Was Terrible&#8217;</a>



<h2 class="wp-block-heading">Crypto: A Better Option?</h2>



There have been <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43222345/someone-sent-nearly-200-million-in-bitcoin-by-paying-just-189-in-fees">several instances</a> of people sending hundreds of millions worth of BTC at a fraction of the fees that such transactions would cost in the traditional financial system.



International cryptocurrency money transfers were found to be 96% cheaper than the legacy process of sending money abroad, according to a&nbsp;<a href="https://www.coinbase.com/blog/crypto-could-help-save-billions-of-dollars-remittance-fees" target="_blank" rel="noreferrer noopener">report&nbsp;</a>from Coinbase.&nbsp;



Apart from the cost advantages, cryptocurrency transfers are also processed instantly, while international wire transfers could take days depending on the recipient&#8217;s country. Moreover, most banks only process transfers during regular business hours and not during the weekend.



<h2 class="wp-block-heading">Trump Says BTC Will Reach $1Million</h2>



Trump also reiterated his belief that Bitcoin will eventually <a href="https://www.benzinga.com/crypto/cryptocurrency/25/09/47911175/eric-trump-repeats-his-1-million-prediction-for-bitcoin-foresees-an-unbelievable-q4-for-crypto">hit $1 million</a> a piece. 



Trump runs American Bitcoin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABTC">ABTC</a>), a <a href="https://www.benzinga.com/crypto/cryptocurrency/25/09/47489856/trump-familys-stake-swells-to-1-46-billion-as-american-bitcoin-makes-stock-market-debut">hybrid company</a> that mines BTC, but also buys it directly from the market. It currently holds 3,865 BTC, worth $394 million,&nbsp;<a href="https://bitcointreasuries.net/" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to Bitcointreasuries.net.



Last month, he revealed plans to <a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48242166/eric-trump-teases-tokenization-plans-related-to-one-specific-building-chance-to-own-part-of-trump-tower">tokenize his family's real estate portfolio</a>, aiming to provide fractional ownership opportunities to the public.



Price Action: At the time of writing, BTC was exchanging hands at $101,913.35, down 1.19% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.



American Bitcoin shares rose 0.19% in after-hours trading after closing 5.22% lower at $4.54&nbsp;during Thursday&#8217;s regular trading session.



According to Benzinga's Edge Stock Rankings, the stock lagged on the Momentum metric and was in a downward trend in the short, medium, and long term. Find out <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">more here</a>.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="980" height="203" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07032100/image-146.png" alt="" class="wp-image-1153188" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07032100/image-146.png 980w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07032100/image-146-300x62.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07032100/image-146-768x159.png 768w" sizes="(max-width: 980px) 100vw, 980px" /></figure>



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</ul>



Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Image via Shutterstock<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Eric Trump Says Big TradFi Institutions Are Upset Over Bitcoin Giving 'Financial Freedom' To People: 'They Want As Many Middlemen As Humanly Possible'

Fitell Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/FTEL">FTEL</a>) shares jumped 7.28% in after-hours trading on Thursday, reaching $1.62.



Check out the current price of <a href="https://www.benzinga.com/quote/FTEL">FTEL stock here</a>.



FTEL shares closed the regular session down 31.99% at $1.51, according to <a href="http://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



<h2 class="wp-block-heading">$50 Million Convertible Note Deal</h2>



On Thursday, the Australia-based fitness equipment retailer announced a $50 million securities purchase agreement with a U.S. institutional investor for convertible note financing.



Rodman &amp; Renshaw is serving as the exclusive placement agent.



<h2 class="wp-block-heading">Stablecoin Treasury Strategy</h2>



According to the company, the net proceeds of the $50 million financing will be converted into stablecoin assets that are kept with a U.S. custodian.



Stablecoin assets may be allocated toward 2F Robotics, the company&#8217;s corporate treasury, or fitness operations, subject to market conditions.



See Also: <a href="https://www.benzinga.com/markets/equities/25/11/48712332/backblaze-surges-2-after-hours-heres-why">Backblaze Surges 2% After Hours — Here&#8217;s Why</a>



Fitell&#8217;s corporate treasury will be diversified across cash, stablecoins, Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), and PUMP.



<h2 class="wp-block-heading">2F Robotics Joint Venture Launch</h2>



The financing will support 2F Robotics, a new joint venture focused on developing AI-driven robotic technologies for consumer and industrial applications. Fitell will retain majority ownership and full intellectual property rights while partnering with GZ Fukonn Vanguard Intelligent Technology, an Asia-based robotics company, to develop products for the home, kitchen, fitness, and industrial sectors.



&#8220;This financing enhances our capital flexibility and broadens our balance sheet through a diversified corporate treasury,&#8221; said CEO Sam Lu in the statement.



The convertible note issuance remains subject to closing conditions.



<h2 class="wp-block-heading">Stock Performance</h2>



Fitell shares are down 99.02% year to date. The stock has traded between $1.45 and $792 over the past year and carries a market capitalization of $1.90 million.



Benzinga Edge Stock Rankings&nbsp;indicate that FTEL has a negative price trend across all time frames.&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Track the performance of other players</a>&nbsp;in this segment.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="952" height="158" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07033156/image-147.png" alt="" class="wp-image-1153216" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07033156/image-147.png 952w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07033156/image-147-300x50.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/07033156/image-147-768x127.png 768w" sizes="(max-width: 952px) 100vw, 952px" /></a></figure>



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Photo Courtesy: Xharites on Shutterstock.com



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

What Drove Fitell's 7% Rebound After Hours?

Anthony Scaramucci, founder of SkyBridge Capital and vocal cryptocurrency advocate, predicted that meme coins will eventually trend toward zero.



<h2 class="wp-block-heading">Memecoins Offer Little Utility, Says Scaramucci</h2>



During an exclusive chat with <a href="https://www.benzinga.com/">Benzinga</a>, Scaramucci said he&#8217;s all for a free world and stands by people&#8217;s right to buy and sell meme coins.



&#8220;I just think meme coins, generally, their trend line will be toward zero. That&#8217;s my prediction,&#8221; stated the former White House Communications Director.



Scaramucci said he finds little utility in these assets, specifically pointing to the Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) token.



&#8220;If you want to trade in rapid speculation, that&#8217;s not my business,&#8221; he added.



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48270634/anthony-scaramucci-was-willing-to-risk-his-business-for-bitcoin-during-the-2022-crypto-winter">Anthony Scaramucci Was &#8216;Willing&#8217; To Risk His Business For Bitcoin During The 2022 Crypto Winter</a>



<h2 class="wp-block-heading">Bitcoin And Layer-1 Tokens On Scaramucci&#8217;s Radar</h2>



Discussing other cryptocurrencies, Scaramucci stated that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) &#8220;deservedly&#8221; earned its reputation as a &#8220;digital property&#8221; and a <a href="https://www.benzinga.com/Opinion/25/10/48173528/is-bitcoin-still-digital-gold-the-october-crash-tells-a-different-story">&#8220;digital gold.&#8221;</a>



He revealed that Skybridge&#8217;s strategy is to select three to five Layer-1 tokens that will exist and see increased adoption and utility over the next five years. 



Apart from Bitcoin, he has been <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40973470/anthony-scaramucci-discloses-holding-a-lot-of-solana-backs-the-ethereum-killer-network-to-">bullish on the prospect</a> of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)



Scaramucci currently serves as a <a href="https://www.benzinga.com/crypto/cryptocurrency/25/09/47810060/anthony-scaramucci-calls-avalanche-the-swiss-army-knife-of-layer-1-blockchains-made-a-big-bet-on-ethereum-killer-because-of-this-reason">strategic advisor</a> to AgriFORCE Growing Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AGRI">AGRI</a>), a firm focused on Avalanche (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/avax/usd">AVAX</a>), as well as to AlphaTON Capital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ATON">ATON</a>), which <a href="https://www.benzinga.com/markets/equities/25/10/48093176/whats-behind-alphaton-capitals-123-after-hours-spike">holds a treasury</a> of Toncoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TON</a>).&nbsp;



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Image via Shutterstock

EXCLUSIVE: Anthony Scaramucci Predicts Trend Line Of Memecoins Will Be Toward Zero — 'Not My Business' To Trade In 'Rapid Speculation'

Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SQ">SQ</a>) CEO Jack Dorsey said Thursday that the company has high expectations for the upcoming launch of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) payments on its&nbsp;Square&nbsp;point-of-sale system.



<h2 class="wp-block-heading">Dorsey Says Company &#8216;Excited&#8217; About The Prospect</h2>



During Block&#8217;s third-quarter earnings call, Dorsey said the firm is &#8220;really excited&#8221; about the rollout next week.



&#8220;It's going to be available to everyone, and they just have to make a simple switch in their settings, and they'll be able to start accepting Bitcoin,&#8221; he added. &#8220;We have a lot of hope for this.&#8221;



Dorsey also revealed that beta merchants have been trialing the feature and found it &#8220;really easy&#8221; to use. 



 The challenge, according to him, is to get people &#8220;comfortable with paying with Bitcoin.&#8221; 



&#8220;We're going to look for every opportunity to both educate all of our sellers on why accepting Bitcoin is the best option and why buyers would want to use it as well,&#8221; he emphasized.



See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/11/48623944/bitcoin-whales-continue-to-sell-heres-what-it-means-for-the-bull-market" target="_blank" rel="noreferrer noopener">Bitcoin Whales Continue To Sell—Here&#8217;s What It Means For The Bull Market</a>



<h2 class="wp-block-heading">A Gamechanger?</h2>



The feature, announced last month, would let merchants <a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48118780/block-shares-hit-8-month-high-after-jack-dorseys-firm-announces-bitcoin-payments-for-square-pos-system">accept BTC payments with no processing fees </a>until 2027. Additionally, a &#8220;Conversion&#8221; feature will enable them to convert a portion of card sales into Bitcoin. The feature is set to be enabled from Monday.



The company also teased a native wallet that will allow sellers to manage their BTC holdings, including buy, sell, hold, and withdrawal options. 



<h2 class="wp-block-heading">Block Misses Earnings, Revenue Expectations</h2>



Meanwhile,&nbsp;Block&#8217;s third-quarter earnings&nbsp;fell short of analyst estimates. The company reported earnings of 54 cents per share, missing the consensus estimate of 67 cents.



Similarly, quarterly revenue came in at $6.11 billion,&nbsp;which missed the Street estimate of&nbsp;$6.312 billion.



In the third quarter, the gross payment volume from its Square PoS business grew 12% year over year. 



Price Action: At the time of writing, BTC was exchanging hands at $101,975.67, down 1.65% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.



Block shares plunged 11.53% in pre-market trading after closing 3.69% lower at $70.93&nbsp;&nbsp;during Wednesday's regular trading session. The stock closed at a nearly 8-month high.



Benzinga's proprietary Edge Rankings show Growth as the strongest category for XYZ at 96.38/100. To find more information about the stock,&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">click here.</a>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="978" height="205" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06230105/image-137.png" alt="" class="wp-image-1152884" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06230105/image-137.png 978w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06230105/image-137-300x63.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06230105/image-137-768x161.png 768w" sizes="(max-width: 978px) 100vw, 978px" /></figure>



<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener"></a>Read Next: 



<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/11/48686092/tom-lee-says-bitcoin-is-highly-sensitive-to-liquidity-94000-may-be-next" target="_blank" rel="noreferrer noopener">Tom Lee Says Bitcoin Is &#8216;Highly Sensitive To Liquidity&#8217; — $94,000 May Be Next</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>



Photo courtesy: Frederic Legrand &#8211; COMEO on Shutterstock

Block CEO Jack Dorsey Says Company Has 'A Lot Of Hope' From Upcoming Square Bitcoin Payment Rollout, But Notes This 'Challenge'

Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOG">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOGL">GOOGL</a>)&nbsp;subsidiary Google said Thursday it will integrate prediction market data from Polymarket and Kalshi on its Google Finance platform.



<h2 class="wp-block-heading">Google Taps Into Prediction Markets</h2>



Initially, this feature will be accessible to Google Labs users, allowing them to gain insights into&nbsp;future market events and harness&nbsp;the &#8220;wisdom of the crowds.&#8221; 



&#8220;Just ask something like &#8216;What will GDP growth be for 2025?&#8217;"&#8217; directly from the search box to see current probabilities in the market and how they've changed over time,&#8221; Google said.



See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/11/48601085/bitcoins-bull-run-is-now-at-the-feds-mercy-heres-what-that-means" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Bull Run Is Now At The Fed&#8217;s Mercy: Here&#8217;s What That Means</a>



<h2 class="wp-block-heading">A Burgeoning Industry</h2>



Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>)-based Polymarket lets users bet on outcomes using the&nbsp;USDC&nbsp;(CRYPTO:&nbsp;USDC) stablecoin. It achieved a valuation of approximately $9 billion following&nbsp;a <a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48074039/nyse-parent-ice-stock-surges-after-reported-2-billion-polymarket-investment">$2 billion investment</a> from New York Stock Exchange owner Intercontinental Exchange Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ICE">ICE</a>)&nbsp;last month.



Polymarket is also the&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45830251/elon-musks-political-party-to-launch-in-2025-odds-rise-on-polymarket-the-crypto-betting-market-now-partnered-with-x" target="_blank" rel="noreferrer noopener">official prediction market partner</a>&nbsp;of&nbsp;Elon Musk's&nbsp;social media giant&nbsp;X. Note that Americans are currently barred from using the platform, but it is expected to<a href="https://www.benzinga.com/crypto/cryptocurrency/25/09/47490600/polymarket-ceo-says-crypto-based-prediction-platform-ready-to-enter-us-after-cftc-approval-stay-tuned" target="_blank" rel="noreferrer noopener">&nbsp;start operations</a>&nbsp;in the near future.



Kalshi, on the other hand, is a federally-regulated prediction market, which recently <a href="https://www.benzinga.com/etfs/sector-etfs/25/10/48162890/kalshis-5-billion-valuation-threatens-draftkings-etf-traders-hedge-their-bets">hit a $5 billion valuation</a> after raising $300 million.



According to Dune Analytics, the two platforms account for <a href="https://dune.com/datadashboards/prediction-markets">more than 90%</a> of the prediction industry, with monthly notional volumes exceeding $4 billion in October.



Bernstein analysts remarked that prediction markets are evolving into an asset class, backed by capital, users, and regulatory support, as reported by widely followed X account Walter Bloomberg.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BERNSTEIN: PREDICTION MARKETS GO MAINSTREAM Bernstein analysts say prediction markets are becoming a legitimate asset class backed by real capital, users, and regulatory support. Robinhood alone saw $2.3–$2.5 billion in quarterly volume. Bernstein expects these markets to help… <a href="https://t.co/Anl2TUrGmH">https://t.co/Anl2TUrGmH</a>&mdash; &#x2A;Walter Bloomberg (@DeItaone) <a href="https://twitter.com/DeItaone/status/1986494752490131473?ref_src=twsrc%5Etfw">November 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Price Action: Alphabet&#8217;s Class A shares rose 0.06% in after-hours trading after closing 0.15% higher at $284.75&nbsp;during Thursday&#8217;s regular trading session.



Benzinga&#8217;s Edge&nbsp;Stock Rankings indicate that the stock maintains a stronger price trend over the&nbsp;short,&nbsp;medium, and&nbsp;long&nbsp;terms. How does it compare with the other &#8220;Mag 7&#8221; stocks? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Find out more here.</a>



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="981" height="191" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06220017/image-136.png" alt="" class="wp-image-1152837" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06220017/image-136.png 981w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06220017/image-136-300x58.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06220017/image-136-768x150.png 768w" sizes="(max-width: 981px) 100vw, 981px" /></a></figure>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/11/48651974/chatgpt-lost-63-trying-to-trade-crypto-but-one-china-ai-made-a-healthy-profit" target="_blank" rel="noreferrer noopener">ChatGPT Lost 63% Trying To Trade Crypto — But One China AI Made A Healthy Profit &#8211; Benzinga</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>



Photo courtesy: Shutterstock

Google To Leverage Polymarket, Kalshi's Prediction Markets Data To Harness 'Wisdom Of The Crowds'

Leading cryptocurrencies retraced on Thursday, while the market mood fell back into the &#8220;Extreme Fear&#8221; category.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 8:50 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-2.26%</td><td>$101,065.30</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-3.10%</td><td>$3,296.29</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-5.90%</td><td>$2.19</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-3.79%</td><td>$154.94</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-2.54%</td><td>$0.1614</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Cryptos Lose Momentum</h2>



Bitcoin's relief rally was short-lived as the apex cryptocurrency fell back to an intraday low of $100,336.87. Ethereum, XRP and Solana also gave up their previous day&#8217;s gains.



Interestingly, JPMorgan analysts were optimistic about the asset in the near term, predicting it could <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48693117/jpmorgan-says-bitcoin-has-67-upside-sees-170000-within-next-6-months">rise to $170,000 </a>within 6 to 12 months.



Overall sentiment stayed subdued, with BTC and ETH still 18% and 31%, respectively, below their all-time highs set earlier this year.



In the past 24 hours, 196,202 traders were liquidated, with total cryptocurrency liquidations at $562.82 million, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass. Nearly $370 million in bullish longs was wiped out.



Bitcoin's open interest rose by 0.61% in the last 24 hours. A rise in open interest, coming alongside a dip in spot price, typically indicates that new short positions are getting opened.



The market switched back to "Extreme Fear" mode, <a href="https://alternative.me/crypto/fear-and-greed-index/#google_vignette">according </a>to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)&nbsp;



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency (Market Cap&gt;$100 M)</th><th>Gains +/-</th><th>Price (Recorded at 8:50 p.m. ET)</th></tr></thead><tbody><tr><td>DeAgent AI (AIA )&nbsp;&nbsp;&nbsp;</td><td>+377.26%</td><td>$7.84</td></tr><tr><td>Filecoin (FIL)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+55.53%</td><td>$2.11</td></tr><tr><td>Arweave (AR )&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+39.78%</td><td>$5.89 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.38 trillion, falling 1.67% over the previous day.



<h2 class="wp-block-heading">Stocks Retreat Amid Skepticism Over Rate Cuts</h2>



Stocks came under pressure yet again on Thursday. The Dow Jones Industrial Average fell 398.70 points, or 0.84%, to end at 46,912.30. The S&amp;P 500 slid 1.12%, to finish at 6,720.32, while the tech-focused Nasdaq Composite closed down 1.9% to end at 23,053.99.



The decline comes after Chicago Federal Reserve President Austan Goolsbee <a href="https://www.cnbc.com/2025/11/06/chicago-feds-goolsbee-says-hes-cautious-about-further-rate-cuts-during-shutdown.html">expressed doubt about further rate cuts</a> in a CNBC interview, citing the prolonged government shutdown as the reason for lack of recent inflation data.



Investors were also keeping a tight eye on the Supreme Court&#8217;s decision on President Donald Trump&#8217;s tariffs, with the <a href="https://www.benzinga.com/news/legal/25/11/48692983/supreme-court-trump-tariffs-ruling-odds-ieepa-refunds">majority of justices looking skeptical </a>about his emergency powers



<h2 class="wp-block-heading">Watch Out For This Level</h2>



Arthur Azizov, founder and investor at B2 Ventures, admitted in a note to Benzinga that Bitcoin's decline is affecting broader cryptocurrency sentiment.



"Despite ongoing liquidity shortages and heightened investor caution, I believe the $100,000 level is likely to hold as Bitcoin's base in the near term," the analyst projected.



Azizov added that If the Fed really "resumes money printing earlier than expected," it could be a bullish signal for risk assets in the long run.



Widely followed cryptocurrency analyst Ali Martinez highlighted that Bitcoin has historically rebounded when realized losses fall below 12%.



"It's now at -11%, signaling a potential rebound ahead," Martinez predicted.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In the past two years, Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has always rebounded when traders' realized losses fell below -12%. It's now at -11%, signaling a potential rebound ahead! <a href="https://t.co/CB2ivOpJSr">pic.twitter.com/CB2ivOpJSr</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1986531030082461906?ref_src=twsrc%5Etfw">November 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48698794/cathie-woods-new-bitcoin-target-only-1-2-million-by-2030-and-stablecoins-are-to-blame">Cathie Wood&#8217;s New Bitcoin Target: &#8216;Only&#8217; $1.2 Million By 2030—And Stablecoins Are To &#8216;Blame&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

Bitcoin, Ethereum, XRP, Dogecoin Reverse Gains Amid Fed Rate Cut Uncertainty: Analyst Sees 'Potential Rebound' For BTC

Bitcoin is back below $102,000 as the government shutdown continues to weigh on risk appetite.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$101,313.79</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$3,313.25</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$156.06</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.22</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1597</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.058970</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>Coinglass data shows 198,110 traders were liquidated in the past 24 hours for $572.82 million.       </li>



<li>In the past 24 hours, top gainers include Internet Computer, Tezos and Filecoin.</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48687894/bitcoin-drops-as-the-sp500-stays-flat-whats-behind-the-divergence">Bitcoin Drops As The S&amp;P500 Stays Flat: What&#8217;s Behind The Divergence?</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48693117/jpmorgan-says-bitcoin-has-67-upside-sees-170000-within-next-6-months">JPMorgan Says Bitcoin Has &#8216;67% Upside,&#8217; Sees $170,000 Within Next 6 Months</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48694788/michael-saylors-bitcoin-plan-has-a-cost-strategy-must-pay-689m-just-to-hodl">Michael Saylor&#8217;s Bitcoin Plan Has A Cost — Strategy Must Pay $689M Just To HODL</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48685146/bitcoins-drop-to-100000-explained-orderly-distribution-without-panic">Bitcoin&#8217;s Drop To $100,000 Explained: Orderly Distribution Without Panic</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48686092/tom-lee-says-bitcoin-is-highly-sensitive-to-liquidity-94000-may-be-next">Tom Lee Says Bitcoin Is &#8216;Highly Sensitive To Liquidity&#8217; — $94,000 May Be Next</a></li>
</ul>



Trader Notes: CryptoYoddha <a href="https://x.com/CryptoYoddha/status/1986480415528657251">noted</a> that Bitcoin is retesting the key $100,000 support level, with its weekly RSI also resting on support. While the short-term structure looks bearish, there are still three days left before the weekly closing.



IncomeSharks <a href="https://x.com/IncomeSharks/status/1986484101092941874">cautioned</a> that markets tend to offer multiple entry opportunities, advising against using high leverage. Even if the outlook is bullish, short-term pullbacks can easily stop or liquidate overleveraged positions before upside plays out.



Blockchainedbb <a href="https://x.com/blockchainedbb/status/1986491928213426378">expects</a> Bitcoin to climb toward $115,000–$120,000, with the S&amp;P 500 potentially peaking near 7,200 before momentum fades. He anticipates a broader slowdown in markets, housing, and the economy starting in 2026, projecting at least a year-and-a-half pause before the next bull run.



He plans to sell all spot positions around Christmas and focus solely on trading through the consolidation phase.



Dana Crypto Trades <a href="https://x.com/DaanCrypto/status/1986478937741136173">pointed</a> out that Bitcoin has entered a phase of heightened volatility typical for this part of the cycle, with double-digit weekly moves common in November. However, this year stands out as Bitcoin is on track for its worst-ever start to the month, following a weak October, underscoring that this cycle is like no other.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48696370/bitcoin-likely-has-one-more-leg-higher-before-2026-bear-market-trader-says">Bitcoin Likely Has &#8216;One More Leg Higher&#8217; Before 2026 Bear Market, Trader Says</a></li>
</ul>



Image: Shutterstock

Bitcoin, Ethereum, XRP, Dogecoin Retrace Bounce As Government Shutdown Extends

Ark Invest has adjusted its long-term bullish outlook on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) from $1.5 million by 2030 down to $1.2 million, citing the rapid rise of stablecoins as a factor for <a href="https://www.benzinga.com/money/bitcoin-price-prediction-oct-14">its downward revision</a>.



What Happened: In a CNBC Squawk Box <a href="https://www.youtube.com/watch?v=07v3YPCHTdI">interview</a> on Wednesday, CEO Cathie Wood pointed out that with stablecoins increasingly fulfill the transactional role that ARK once expected Bitcoin to play.



Wood emphasized that this doesn't diminish Bitcoin's "digital gold" use case. 



She still expects Bitcoin to capture at least half of gold's market value, given that it matches gold's key properties while improving on several like superior portability, verifiability, and scarcity.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48687894/bitcoin-drops-as-the-sp500-stays-flat-whats-behind-the-divergence">Bitcoin Drops As The S&amp;P500 Stays Flat: What&#8217;s Behind The Divergence?</a>



Why It Matters: Wood emphasized Bitcoin's evolution into a global monetary network, asset class, and technology platform, noting that institutional participation is still in its early innings.



She views the rise of stablecoins as additive, expanding the digital monetary ecosystem rather than threatening Bitcoin's core store-of-value appeal.



Elsewhere, JPMorgan CEO Jamie Dimon acknowledged that <a href="https://www.benzinga.com/markets/tech/25/11/48679081/jpmorgan-chase-ceo-jamie-dimon-uses-ai-for-writing-memos-doing-research-lot-more-but-he-still-believes-it-cannot-replace-thinking">crypto, blockchain, and stablecoins</a> are "real," confirming that banks plan to allow Bitcoin and Ethereum as loan collateral by late 2025.



Meanwhile, Wintermute <a href="https://x.com/wintermute_t/status/1986339002287587524">observed</a> that liquidity growth in crypto has stalled, with stablecoins, ETFs, and DATs expanding from $180 billion to $560 billion since early 2024, but now mostly seeing capital rotation instead of new inflows.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/11/48675798/cathie-wood-makes-13-4-million-bet-on-this-social-network-after-earnings-crash-but-dumps-robinhood-and-reddit">Cathie Wood Makes $13.4 Million Bet On This Social Network After Earnings Crash — But Dumps Robinhood And Reddit</a></li>
</ul>

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