Bitcoin's <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> decline deepened Friday as <a href="https://www.benzinga.com/markets/economic-data/25/11/48868224/trump-needs-2-inflation-to-gain-a-2026-edge-and-one-contrarian-trade-could-surge">broader macro risk-off sentiment</a> and weakening institutional appetite weighed heavily on crypto markets.



<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>$94,326</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$3,138</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$140.81</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.26</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1596</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.059244</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>Coinglass data shows 216,892 traders were liquidated in the past 24 hours for $1.06 billion.        </li>



<li>In the past 24 hours, top gainers include Starknet, Zcash and Dash.</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/earnings/25/11/48866531/bit-digital-stock-slides-as-crypto-markets-unravel">Bit Digital Stock Slides As Crypto Markets Unravel</a></li>



<li><a href="https://www.benzinga.com/etfs/new-etfs/25/11/48874085/as-crypto-etfs-gain-traction-21shares-rolls-out-two-new-index-products">As Crypto ETFs Gain Traction, 21Shares Rolls Out Two New Index Products</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48873119/tom-lee-says-crypto-will-do-well-in-december-thanks-to-fed-the-odds-favor-a-cut">Tom Lee Says Crypto Will Do Well In December Thanks To Fed: &#8216;The Odds Favor A Cut&#8217;</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48861981/xrp-etf-crowned-2025s-biggest-crypto-etf-debut-with-250m-inflows">XRP ETF Crowned 2025&#8217;s Biggest Crypto ETF Debut With $250M Inflows</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48866270/did-the-uae-just-ban-bitcoin-no-but-what-they-did-might-be-even-worse">Did The UAE Just Ban Bitcoin? No — But What They Did Might Be Even Worse</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48855551/peter-schiff-polls-bitcoin-holders-how-far-must-btc-drop-before-they-admit-he-was-right">Peter Schiff Polls Bitcoin Holders: How Far Must BTC Drop Before They Admit He Was &#8216;Right&#8217;</a></li>
</ul>



Trader Notes: Altcoin Sherpa<a href="https://x.com/AltcoinSherpa/status/1989404218604798425"> expects</a> BTC to continue grinding lower until it reaches a meaningful support zone, potentially near $91,000, though a clear buyer base has yet to appear.



Ted Pillows <a href="https://x.com/TedPillows/status/1989271588571582854">noted </a>Bitcoin's break below $98,000 now puts the spotlight on the $92,000–$93,000 region, a key support cluster aligned with a CME gap, which may attract price before any relief bounce.



Niels <a href="https://x.com/Web3Niels/status/1989332861564944855">reported</a> Bitcoin's drop under $95,000 triggered more than $1.23 billion in long liquidations in just 24 hours, contributing to over $1.6 trillion erased across global crypto and equity markets.



Many traders anticipated a relief rally after the U.S. government shutdown ended, but price action has moved sharply in the opposite direction.



Markets now shift from asking why the drop occurred to the more critical question: Is this the start of a deeper downturn, or the final capitulation before Bitcoin's next major move?



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48875204/bitcoins-drop-below-100000-is-a-reasonable-entry-point-bitwises-hunter-horsley-says">Bitcoin&#8217;s Drop Below $100,000 Is A &#8216;Reasonable Entry Point&#8217;, Bitwise&#8217;s Hunter Horsley Says</a></li>
</ul>



Image: Shutterstock

Bitcoin Crashes To $94,000 As Ethereum, XRP, Dogecoin Look Into The Abyss

Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> has slipped under the $100,000 mark amid heavy ETF outflows and renewed doubts about Federal Reserve rate cuts, signaling <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48785622/bitcoin-ethereum-down-2-but-institutions-remain-bullish-report">growing institutional caution</a>.



What Happened: Bitcoin&#8217;s rejection at key daily moving averages and the $106,800 level triggered a deeper correction toward the $95,700 (.703 Fib) zone, with a possible extension into the $91,000–$88,000 golden pocket, near the 3D 200 SMA/EMA. 



Over the past day, Bitcoin flushed all long liquidity between $101,000 and $96,000, hitting the expected $95,700 target.



The drop reflects strong bearish momentum, weak money flow, and widespread leverage wipeouts. 



Now, price has entered a more constructive but highly volatile zone, where BTC's reaction around major support will determine whether the broader uptrend can recover.



A bottoming structure near these levels could reignite bullish momentum. 



But if Bitcoin fails to hold support, any bounce risks forming a macro lower high before deeper downside.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48861201/bitcoin-crashes-below-96000-as-1-billion-wiped-out-in-liquidations-across-eth-xrp-dogecoin">Bitcoin Crashes Below $96,000 As $1 Billion Wiped Out In Liquidations Across ETH, XRP, Dogecoin</a>



Why It Matters: Santiment <a href="https://x.com/santimentfeed/status/1989044150306848837">data</a> shows Bitcoin has dipped below $100,000 for the second time this month, sparking classic retail fear. Sentiment indicators currently highlight:



<ul class="wp-block-list">
<li>Strong bullish/greedy bias &#8211; often precedes cooling or downside</li>



<li>Neutral/mixed bias — markets follow whales or macro catalysts</li>



<li>Strong bearish/fearful bias — common near panic lows and improved risk/reward zones</li>
</ul>



Bitcoin has now moved into this fear-driven "green zone", a region where retail panic historically peaks and local bottoms often form.



Sentiment remains a powerful driver, and BTC price frequently moves opposite the crowd's dominant narrative, meaning extreme fear often aligns with rebound potential.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48873051/eric-trump-defends-bitcoin-no-asset-matches-its-history-every-cycle-has-drawdowns">Eric Trump Defends Bitcoin: No Asset Matches Its History, &#8216;Every Cycle Has Drawdowns&#8217;</a></li>
</ul>



Image: Shutterstock

$2 Trillion Market Cap No More: What Drives The Bitcoin Drop

Bitwise Asset Management CEO Hunter Horsley says the recent crypto pullback hasn't changed his outlook: 2025 remains the most constructive year for digital assets, and today's Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> levels represent a <a href="https://www.benzinga.com/money/bitcoin-price-prediction-oct-14">compelling entry point</a>.



What Happened: In a new CNBC <a href="https://www.cnbc.com/video/2025/11/14/current-cryptocurrency-prices-are-reasonable-entry-point-for-investors.html">interview</a>, Horsley said investors consistently turn to Bitcoin when they fear currency debasement, expanding money supply, or inflation. 



As Bitcoin increasingly takes market share from gold in these roles, its long-term value proposition strengthens.



He noted that Bitcoin's recent decline mirrors broader risk-off behaviour across small caps, gold, bonds, and equities, likely driven by expectations of fewer rate cuts, disappointing earnings, and year-end de-risking.



Despite the volatility, Bitwise just recorded its largest quarterly inflows in seven years, signalling rising institutional conviction. 



Horsley said this backdrop makes current prices a "reasonable entry point" for long-term investors.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48861201/bitcoin-crashes-below-96000-as-1-billion-wiped-out-in-liquidations-across-eth-xrp-dogecoin">Bitcoin Crashes Below $96,000 As $1 Billion Wiped Out In Liquidations Across ETH, XRP, Dogecoin</a>



Why It Matters: Horsley reiterated Bitwise's thesis that Bitcoin could reach $1 million within a decade, supported by:



<ul class="wp-block-list">
<li>Growing demand for assets that hedge inflation and store value</li>



<li>Increasing share of that demand shifting toward Bitcoin</li>



<li>Global capital seeking alternatives outside traditional financial markets</li>
</ul>



He emphasized that more dollars are flowing into non-traditional, durable-value assets, an environment that directly benefits Bitcoin and the broader digital-asset sector.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48777654/brad-garlinghouse-looks-beyond-crypto-as-ripple-targets-traditional-finance-with-xrp-powered-blockchain-services">Brad Garlinghouse Looks Beyond Crypto As Ripple Targets Traditional Finance With XRP-Powered Blockchain Services</a></li>
</ul>



Image: Shutterstock

Bitcoin's Drop Below $100,000 Is A 'Reasonable Entry Point', Bitwise's Hunter Horsley Says

Ethereum <a class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> is down 3% on Friday, even as Tom Lee said a December rate cut could revive risk markets<a href="https://www.benzinga.com/money/ethereum-eth-price-predictions#:~:text=Frequently%20Asked%20Questions%3A%20Ethereum%20(ETH)%20Price%20Predictions&amp;text=Analysts%20predict%20that%20Ethereum%20could,an%20average%20forecast%20of%20%244%2C054."> into year-end.</a>



<h3 class="wp-block-heading">Lee Expects December Rate Cut To Lift Risk Assets</h3>



<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">Tom Lee explains why he expects stocks &amp; crypto to do well in December. <a href="https://t.co/ptqFnFFaiF">pic.twitter.com/ptqFnFFaiF</a>&mdash; Justin (@Justin_The_Mind) <a href="https://twitter.com/Justin_The_Mind/status/1988462151833735462?ref_src=twsrc%5Etfw">November 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Lee said the Federal Reserve's upcoming December policy meeting will directly influence risk markets.&nbsp;



He called it a "monetary policy decision in December" that affects "both stocks and crypto because that's a risk-on measure."



He added that "the odds favor a cut," and said that a rate cut "will help inject confidence… another reason to expect stocks and crypto to do well into year-end."



His remarks reflect a straightforward macro view, i.e., easing financial conditions tends to lift high-beta assets, such as Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a>, Ethereum, and equity sectors tied to digital markets.



<h3 class="wp-block-heading">Ethereum Slips Under Major EMAs As Sellers Stay Active</h3>



<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14115425/image-341-1024x524.png" alt="" class="wp-image-1166009"/></figure>



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



Ethereum's daily structure has deteriorated since mid-October, with the token now trading below its 20-, 50-, and 100-day EMAs.&nbsp;



The stacked resistance zone between $3,564 and $3,843 has acted as a firm ceiling, and each retest of the descending trendline from the September peak has drawn sharp rejection.



The most recent fade from the $3,360–$3,400 region shows limited demand, and the market continues to treat every bounce as an opportunity to exit positions.&nbsp;



A loss of the 0.236 Fibonacci level at $3,346 adds pressure, pushing ETH toward the $3,060–$3,120 demand shelf that has repeatedly served as the final support layer in prior drawdowns.



<h3 class="wp-block-heading">Momentum Indicators Lean Bearish As Seasonality Turns Negative</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="524" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14115425/image-341-1024x524.png" alt="" class="wp-image-1166010" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14115425/image-341-1024x524.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14115425/image-341-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14115425/image-341-768x393.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14115425/image-341-1536x786.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14115425/image-341.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://www.coinglass.com/today">ETH Monthly Returns (Source: Coinglass)</a>



The RSI remains anchored near 34 with no bullish divergence forming.&nbsp;



November often trends positive for Ethereum, but this year resembles one of its deeper historical November drawdowns.&nbsp;



December also carries a negative median return, placing ETH in a vulnerable position as it approaches a historically weak period with deteriorating structure.



<h3 class="wp-block-heading">Key Levels Traders Are Watching Into December</h3>



If ETH loses the $3,060–$3,120 zone, the next liquidity pocket sits between $2,800 and $2,600.&nbsp;



This area aligns with a full retracement of the previous rally and holds several volume-weighted nodes that often attract high-time-frame buyers.



A meaningful recovery requires ETH to reclaim $3,346, break the descending trendline, and close above the $3,650–$3,820 region where all major EMAs converge.&nbsp;



Without this shift, traders expect continued downside pressure.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48869642/were-always-buying-bitcoin-michael-saylor-says-mstr-is-safe-even-if-btc-crashed-80">&#8220;We&#8217;re Always Buying Bitcoin&#8221; — Michael Saylor Says MSTR Is Safe Even If BTC Crashed 80%</a></li>
</ul>



Image: Shutterstock

Tom Lee Says Crypto Will Do Well In December Thanks To Fed: 'The Odds Favor A Cut'

Eric Trump once more doubled down on his bullish stance on Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a>, arguing that its long-term performance eclipses every major asset class despite <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48862976/eric-trump-praises-bitcoin-but-abtc-faces-brutal-drop-to-3-50">short-term volatility</a>.



What Happened: In a live Bloomberg <a href="https://x.com/RoundtableSpace/status/1989277285485334552?s=20">appearance</a> on Friday, Trump noted Bitcoin is up 180% in two years and has been the best-performing asset of the past decade.



"I run one of the great real estate portfolios anywhere in the world. Cryptocurrency is absolutely on fire… it's taking on the whole world," he said.



Trump argued that short-term comparisons miss the bigger picture: Bitcoin has historically averaged ~70% annual returns, far outpacing stocks, gold, and real estate.



Volatility, he added, is simply part of the asset's nature, and the reason BTC continues to outperform traditional markets despite periodic drawdowns.



Also Read: &nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48842198/bitcoin-down-to-100000-is-the-four-year-cycle-breaking">Bitcoin Down To $100,000 Is The Four-Year Cycle Breaking?</a>



Why It Matters: Eric Trump pointed to Nvidia, down 4% recently, as proof that even the strongest assets retrace. But, he emphasized, "nothing has compared to what Bitcoin has."



In a Fox Business segment, he also highlighted Bitcoin's efficiency, noting you can <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48845195/eric-trump-lauds-bitcoin-send-500-million-on-a-sunday-night-virtually-no-fees">move funds globally, even on a Sunday night</a>, for virtually no cost, unlike traditional banking.



Meanwhile, analyst Rekt Capital <a href="https://x.com/rektcapital/status/1989301131558768987">warned</a> that Bitcoin has historically formed lower-low clusters around the 50-week EMA during bull markets. 



The deeper we move into the cycle, the less likely that pattern is to repeat—making a weekly close back above the 50-week EMA critical for maintaining bullish momentum.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48812509/sec-chair-paul-atkins-outlines-token-taxonomy-plan-in-effort-to-clarify-crypto-regulation">SEC Chair Paul Atkins Outlines &#8216;Token Taxonomy&#8217; Plan In Effort To Clarify Crypto Regulation</a></li>
</ul>



Image: Shutterstock

Eric Trump Defends Bitcoin: No Asset Matches Its History, 'Every Cycle Has Drawdowns'

Investors stepped back into beaten-down tech names Friday, with the Nasdaq 100 rising 0.6% by midday in New York, staging a modest rebound <a href="https://www.benzinga.com/markets/tech/25/11/48849100/tech-stocks-market-cap-loss-thursday-nvidia-fed-speakers-rate-cut-bets">after Thursday's sharp selloff. </a>



The S&amp;P 500 edged up 0.3%, while the Dow Jones Industrial Average slipped 0.3%, weighed by relative declines in financial and pharma stocks.



Nvidia Corp. <a class="ticker-link" data-ticker="NVDA" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/NVDA" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>)</a> clawed back 1.8%, partially recovering from its 3.6% drop in the prior session. 



Leading the charge in tech stocks, Micron Technology Inc. <a class="ticker-link" data-ticker="MU" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/MU" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MU">MU</a>)</a> jumped over 7%, marking the strongest performance across both the Nasdaq 100 and S&amp;P 500. The surge followed a Reuters report that Samsung Electronics raised prices of DDR5 memory chips by as much as 60% this month, citing AI-driven demand. SanDisk Corp. <a class="ticker-link" data-ticker="SNDK" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/SNDK" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SNDK">SNDK</a>)</a> – heavily exposed to the chip-memory market – also rallied sharply, up more than 10%. 



GE Vernova Inc. <a class="ticker-link" data-ticker="GEV" data-exchange="NYSE" href="https://www.benzinga.com/quote/GEV" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GEV">GEV</a>)</a> was another standout gainer. Shares rose after reports that Chinese export restrictions have triggered a global shortage of yttrium, a rare earth element used in high-temperature coatings for gas turbines—a critical component in GE Vernova's energy systems. The supply squeeze has raised concerns over potential cost spikes across aerospace, power and semiconductor industries.



Outside equities, Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> remained under pressure, sliding 3% to an intraday low of $94,500, before rebounding modestly to $97,000 as persistent outflows from crypto exchange-traded funds (ETFs) continued to weigh on sentiment. 



The world's largest cryptocurrency is now down 25% from its early October record high, officially entering bear market territory and nearly wiping out its 2025 gains. 



Meanwhile, gold prices dropped 1.7% to $4,100, dragged lower by hawkish signals from the Federal Reserve. With policymakers recently pushing back on early rate-cut bets, the odds of a December cut have fallen to 50%, according to futures markets.



<h2 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %chg</td></tr><tr><td>Nasdaq 100</td><td>25,154.59</td><td>0.6%</td></tr><tr><td>Russell 2000</td><td>2,396.07</td><td>0.6%</td></tr><tr><td>S&amp;P 500</td><td>6,767.45</td><td>0.4%</td></tr><tr><td>Dow Jones</td><td>47,336.86</td><td>-0.3%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:10 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VOO">VOO</a>) rose 0.4% to $620.95.</li>



<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) edged 0.2% lower to $473.79.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>)&nbsp;rose 0.7% to $613.00.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) rose 0.7% to $238.63.</li>



<li>The&nbsp;Technology&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLK">XLK</a>) outperformed, up 1.4%; the&nbsp;Financials&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLF">XLF</a>) lagged, down 0.4%.</li>
</ul>



<h2 class="wp-block-heading">S&amp;P 500&#8217;s Top 5 Gainers On Friday</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock Name</th><th>Chg %</th></tr></thead><tbody><tr><td>Micron Technology Inc. </td><td>+7.15%</td></tr><tr><td>DoorDash Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DASH">DASH</a>)</td><td>+7.00%</td></tr><tr><td>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SMCI">SMCI</a>)</td><td>+6.17%</td></tr><tr><td>Workday Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/WDAY">WDAY</a>)</td><td>+4.58%</td></tr><tr><td>GE Vernova Inc. </td><td>+4.56%</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">S&amp;P 500&#8217;s Top 5 Losers On Friday</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock Name </th><th>Chg %</th></tr></thead><tbody><tr><td>Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BMY">BMY</a>)</td><td>-3.53%</td></tr><tr><td>Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NFLX">NFLX</a>)</td><td>-3.01%</td></tr><tr><td>UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/UNH">UNH</a>)</td><td>-2.89%</td></tr><tr><td>Smurfit WestRock Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SMURF">SMURF</a>)</td><td>-2.32%</td></tr><tr><td>Fidelity National Information Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FIS">FIS</a>)</td><td>-2.17%</td></tr></tbody></table></figure>



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Tech Rebounds After Selloff, Bitcoin Craters To $97,000: What's Moving Markets Friday?

Hyperscale Data, Inc. <a target="_blank" href="https://www.benzinga.com/quote/GPUS" rel="noreferrer noopener"><a href="https://www.benzinga.com/quote/GPUS" target="_blank" class="ticker-link" data-ticker="GPUS" data-exchange="AMEX" rel="noopener">(AMEX:<a class="ticker" href="https://www.benzinga.com/quote/GPUS">GPUS</a>)</a></a> stock fell Friday after the company&#8217;s executive chairman issued a lengthy letter outlining a Bitcoin-centered strategy and detailing the <a target="_blank" href="https://www.benzinga.com/pressreleases/25/11/n48859261/hyperscale-data-issues-letter-to-stockholders-from-executive-chairman" rel="noreferrer noopener">firm&#8217;s estimated financial standing</a>.



Founder and Executive Chairman Milton &#8220;Todd&#8221; Ault III told stockholders the recent pullback in Bitcoin <a target="_blank" href="https://www.benzinga.com/quote/BTC-USD" rel="noreferrer noopener"><a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: BTC/USD)</a></a> and weakness in AI-linked equities have not changed the company&#8217;s outlook.



He said the executive team believes Hyperscale Data is in its strongest position since its formation eight years ago.



Also Read: <a target="_blank" href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48861201/bitcoin-crashes-below-96000-as-1-billion-wiped-out-in-liquidations-across-eth-xrp-dogecoin" rel="noreferrer noopener">Bitcoin Crashes Below $96,000 As $1 Billion Wiped Out In Liquidations Across ETH, XRP, Dogecoin</a>



Ault said estimated total assets reached about $330 million as of Oct. 31, with roughly $150 million in estimated net assets.



He cited around $122 million in combined cash and Bitcoin holdings as a key foundation for long-term expansion. He noted that small-cap companies face steep challenges in the public markets and said the company&#8217;s structure has contributed to a valuation disconnect.



<h2 class="wp-block-heading">Chairman Acknowledges Past Missteps</h2>



Ault said building the business required difficult decisions and admitted he now regrets some of those choices.



He highlighted the company&#8217;s headcount of more than 600 employees across three continents and said investors may still underestimate the potential of its operating businesses, including Circle 8 Crane Services, a subsidiary with independent leadership.



He said the company sees a clear route to profitability by 2026, driven by Bitcoin exposure and the performance of its financial services assets.



The executive committee monitors operations and capital allocation each day to ensure consistency across the organization.



<h2 class="wp-block-heading">Michigan Data Center Seen As Key Asset</h2>



Ault called the company&#8217;s Michigan AI data center one of its most important properties.



The site currently offers about 30 megawatts of capacity, with a staged expansion targeting 70 megawatts within about 20 months.



He said the location could reach roughly 340 megawatts depending on financing, regulatory approvals and utility agreements.



The facility houses NVIDIA servers and GPU clusters central to its AI and high-performance computing plans.



<h2 class="wp-block-heading">Chairman Commits To Holding Bitcoin</h2>



Ault said his family&#8217;s firm, Ault &amp; Company, remains the largest Hyperscale Data stockholder with roughly $55 million in preferred shares.



He said he has no intention of selling shares and plans additional investments when possible.



The company recently added thousands of new Antminers to increase mining output and has been purchasing Bitcoin at lower prices.



&#8220;I said earlier that we have made mistakes, and I want to be very clear: The biggest mistake I have made since 2011 is selling&nbsp;Bitcoin,&#8221; Ault said.



Ault said the company struggled with banking issues and operational hurdles tied to Bitcoin ownership in earlier years, leading to decisions he now regrets. He compared Hyperscale Data&#8217;s current strategy to the Bitcoin-focused approach championed by Michael Saylor at Strategy.



Ault said the company intends to grow its Bitcoin holdings well beyond $100 million.



He said the firm will continue mining, buying and holding Bitcoin indefinitely and will dollar-cost average into Bitcoin for as long as possible.



Ault told investors he expects 2026 to be a pivotal year for the organization.



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Hyperscale Data CEO Doubles Down On Bitcoin In Candid Letter

XRP <a class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/XRP-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a> and Cardano <a class="ticker-link" data-ticker="ADA" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ADA-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>)</a> are down over 5% over the past 24 hours as sellers dragged the two large-cap altcoins back toward the critical support zones that have held the market together<a href="https://www.benzinga.com/money/ripple-xrp-price-prediction"> since early fall.</a>



<h3 class="wp-block-heading">XRP Weakens As Sellers Push Price Toward Trendline Support</h3>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1417" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14101127/xrp-14th-nov-bz.png" alt="" class="wp-image-1165805" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14101127/xrp-14th-nov-bz.png 2048w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14101127/xrp-14th-nov-bz-300x208.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14101127/xrp-14th-nov-bz-1024x709.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14101127/xrp-14th-nov-bz-768x531.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14101127/xrp-14th-nov-bz-1536x1063.png 1536w" sizes="(max-width: 2048px) 100vw, 2048px" /></figure>



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



XRP trades near $2.25 after persistent selling pressure weighed on the month-long triangle structure.



The token remains below the 20-day EMA at $2.39 and cannot reclaim the 50-day EMA at $2.53.



Each rebound fades quickly, and repeated failures at the descending trendline confirm that momentum stays controlled by sellers.



The market is now pressing one of the most important long-term support levels in the pattern, formed by a rising trendline from the March base.



<h3 class="wp-block-heading">Outflows Deepen As XRP Loses Grip On Key EMA Cluster</h3>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="487" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14101115/xrp-nf-bz.png" alt="" class="wp-image-1165802" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14101115/xrp-nf-bz.png 2048w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14101115/xrp-nf-bz-300x71.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14101115/xrp-nf-bz-1024x244.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14101115/xrp-nf-bz-768x183.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14101115/xrp-nf-bz-1536x365.png 1536w" sizes="(max-width: 2048px) 100vw, 2048px" /></figure>



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



Spot netflows registered a $17.35 million outflow on Nov. 14, marking another session dominated by selling.



Red prints have been consistent for months, showing limited accumulation and minimal whale interest.



The supertrend stays red, and XRP trades under every major EMA between $2.53 and $2.69.



This cluster has become a ceiling, and the path lower remains open until price reclaims it.



A break below the rising trendline could expose $2.03 as the next target.



A deeper slide toward the $1.75–$1.60 region may follow if sellers accelerate pressure.



<h3 class="wp-block-heading">ADA Extends Weekly Decline As Breakdown Gains Momentum</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="709" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14100908/image-338-1024x709.png" alt="" class="wp-image-1165795" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14100908/image-338-1024x709.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14100908/image-338-300x208.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14100908/image-338-768x531.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14100908/image-338-1536x1063.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14100908/image-338.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/ADAUSD/">Cardano Price Dynamics (Source: TradingView)</a>



ADA trades near $0.50 after losing the $0.53–$0.55 support shelf earlier this week.



The token is down about 15% over the past seven days, reflecting one of the steepest weekly drops among large-cap assets.



The market has respected a dominant descending trendline since late summer, and each rally into the EMA cluster has been rejected.



The breakdown through support pushed ADA directly into a lower liquidity region, leaving it just above a broad demand zone between $0.42 and $0.36.



ADA price trades well below the 20-day EMA at $0.58 and the 50-day EMA at $0.65.



The parabolic SAR also continues printing above price, indicating persistent downside pressure.



A clean break could send price into the $0.44–$0.41 pocket quickly.



A deeper test near $0.38–$0.36 becomes likely if sell volume expands.



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Image: Shutterstock

XRP And ADA Plummet Another 5% — What's Next?

<a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48814693/mstr-slips-3-even-as-michael-saylor-lauds-bitcoins-role-as-digital-capital">Michael Saylor reignited</a> market attention Friday after posting "We are buying" on X and reaffirming that Strategy Inc. <a class="ticker-link" data-ticker="MSTR" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/MSTR" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSTR">MSTR</a>)</a> remains secure even if Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> drops as much as 80%.



<h3 class="wp-block-heading">Saylor Says Volatility Is Part Of Bitcoin Investing</h3>



Saylor <a href="https://x.com/saylor/status/1989337430441271341?s=20">said</a> Bitcoin's multi-year performance continues to exceed major asset classes, noting that the token has averaged roughly 50% annual gains across the past five years.&nbsp;



He pointed out that Bitcoin moved from about $55,000 to $94,000 over a 14-month span, calling the return stronger than what most investors expect.



He added that Bitcoin investors must be prepared for sharp price swings and maintain a time horizon of at least four years.&nbsp;



According to him, the market recently cleared excess leverage as long-term holders sold near the $100,000 level, creating what he described as a "strong base of support."



Saylor maintained that Bitcoin will continue to outperform gold and the S&amp;P 500 <a href="https://www.benzinga.com/quote/SPY" target="_blank" class="ticker-link" data-ticker="SPY" data-exchange="ARCA" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SPY">SPY</a>)</a>, calling it "digital capital."



<h3 class="wp-block-heading">MSTR Balance Sheet ‘Fine' Even If Bitcoin Drops 80%</h3>



Saylor further said Strategy Inc. remains lightly levered with debt maturing four and a half years from now.&nbsp;



He noted that the company is "not even 1.15 times leveraged," adding that its collateral position remains intact under extreme downside scenarios.



"If Bitcoin were to fall 80%, we're still overcollateralized, and we're fine," he said.&nbsp;



Saylor explained that Strategy uses preferred equity to amplify returns for common shareholders while avoiding traditional credit default risk.



He emphasized that preferred equity dividends are discretionary and board-declared, calling the structure similar to an "intelligent bank" that uses equity to support long-duration capital.



<h3 class="wp-block-heading">Comments On Stablecoins And Digital Finance Growth</h3>



Saylor also addressed remarks from Ark Invest CEO Cathie Wood, who recently suggested stablecoin growth may reduce Bitcoin's transactional use case.&nbsp;



Saylor disagreed, saying the broader digital asset economy is expanding across two parallel paths.



He framed Bitcoin as "digital gold" anchoring digital capital, while stablecoins and tokenized assets form the foundation of digital finance on proof-of-stake networks such as Ethereum <a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> and Solana <a href="https://www.benzinga.com/quote/SOL-USD" target="_blank" class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a>.&nbsp;



Stablecoins, he said, are likely to grow from hundreds of billions to trillions of dollars, but the expansion does not compete with Bitcoin's role as a capital asset.



<h3 class="wp-block-heading">Saylor Confirms Strategy Inc. Is Accelerating Bitcoin Purchases</h3>



When asked whether Strategy is still accumulating Bitcoin, Saylor said the company is "always buying."&nbsp;



He added that the firm recently accelerated its purchases and plans to disclose new totals on Monday.



He said Strategy now owns nearly 3.1% of the Bitcoin network with an average purchase price near $74,000 per coin.



Saylor outlined his guidance for different investor time frames.&nbsp;



Long-term buyers should focus on Bitcoin itself, while equity investors seeking leverage on digital capital may prefer Strategy's stock.&nbsp;



Short-term investors, he said, should consider digital credit instruments tied to lower-volatility yield products.



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"We're Always Buying Bitcoin" — Michael Saylor Says MSTR Is Safe Even If BTC Crashed 80%

BitMine Immersion Technologies, Inc. <a target="_blank" href="https://www.benzinga.com/quote/BMNR" rel="noreferrer noopener"><a href="https://www.benzinga.com/quote/BMNR" target="_blank" class="ticker-link" data-ticker="BMNR" data-exchange="AMEX" rel="noopener">(AMEX:<a class="ticker" href="https://www.benzinga.com/quote/BMNR">BMNR</a>)</a></a> appointed Chi Tsang as Chief Executive Officer on Friday and added him to its Board of Directors.



The company also named three independent directors — Robert Sechan, Olivia Howe and Jason Edgeworth — as it strengthens its leadership team to support its next phase of growth.



BitMine, which holds more than 2.9% of the Ethereum network, is backed by investors including ARK&#8217;s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG and Galaxy Digital.



Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/11/48636374/ethereums-price-crash-sinks-bitmine-immersion-technologies-bmnr-stock" rel="noreferrer noopener">Ethereum&#8217;s Price Crash Sinks Bitmine Immersion Technologies (BMNR) Stock</a>



The company has outlined a long-term goal of acquiring 5% of all Ethereum <a target="_blank" href="https://www.benzinga.com/quote/ETH-USD" rel="noreferrer noopener"><a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" rel="noopener">(CRYPTO: ETH/USD)</a></a>.



<h2 class="wp-block-heading">Leadership Shift and Strategic Direction</h2>



Thomas &#8220;Tom&#8221; Lee, Chairman of the Board, said the new leadership team brings crucial expertise. &#8220;Our new CEO and Board members bring a unique blend of experience, insight, and leadership across technology, DeFi and financial services,&#8221; he said.



Tsang compared the current blockchain shift to the early internet era. &#8220;The transformation and innovation now facing Wall Street through blockchain and Ethereum mirror the explosion of opportunity that mobile phones and the internet unleashed in the 1990s,&#8221; he said. &#8220;With its substantial Ethereum holdings… BitMine is positioned to become a leading financial institution.&#8221;



Former CEO Jonathan Bates said the company&#8217;s progress has been a &#8220;remarkable journey,&#8221; adding, &#8220;I have complete confidence that Tom and BitMine&#8217;s new leadership will carry that momentum as it continues to grow.&#8221;



<h2 class="wp-block-heading">Directors Signal Confidence in Ethereum Growth</h2>



Incoming director Robert Sechan said Tom Lee&#8217;s long record of identifying major secular trends drew him to the role. &#8220;His view that Ethereum is a supercycle is something that resonates with me,&#8221; he said.



Olivia Howe said she has watched BitMine evolve &#8220;from a virtually unknown company to the largest Ethereum DAT in the world,&#8221; and is &#8220;honored to join the Board at this pivotal moment.&#8221;



Jason Edgeworth added, &#8220;I believe in Tom&#8217;s bold vision to establish BitMine as a critical infrastructure partner in the Ethereum ecosystem,&#8221; and said he looks forward to supporting long-term shareholder value.



Price Action: BMNR shares were trading lower by 3.71% to $35.22 at last check Friday.



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BitMine Names Chi Tsang CEO, Adds New Directors

Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> <a href="https://www.benzinga.com/content/44395138/uae-tops-most-crypto-obsessed-countries-list-in-2025-atmos-research">remains legal in the UAE</a>, but sweeping rules that took effect on Sep. 16 now force licenses on nearly every crypto tool, creating one of the world's toughest self-custody crackdowns.



<h3 class="wp-block-heading">New Law Broadens Central Bank Authority</h3>



<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">UNITED ARAB EMIRATES BANS BITCOIN I have bad news for all crypto habibis in Dubai, it&#39;s real. The New Central Bank of the UAE Law was issued in the Official Gazette and became legally effective as of September 16, 2025. The law in particular makes it a crime to offer any… <a href="https://t.co/mtCJtlDGZZ">pic.twitter.com/mtCJtlDGZZ</a>&mdash; Mikko Ohtamaa (@moo9000) <a href="https://twitter.com/moo9000/status/1989247472888115262?ref_src=twsrc%5Etfw">November 14, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The New Central Bank of the UAE Law expands the regulator's oversight beyond traditional financial firms to include technology providers that facilitate financial activity.&nbsp;



Article 62 extends the regulatory perimeter to platforms, protocols, and digital tools that enable or support financial services, even when those services are not offered directly.



The framing significantly widens potential liability for companies operating in the region by treating facilitation as a regulated activity.&nbsp;



<h3 class="wp-block-heading">Self-Custody Tools Now Require Licensing</h3>



The law makes it a crime to provide digital asset "tools" to UAE citizens without a Central Bank license.&nbsp;



These tools include self-custodial Bitcoin wallets, blockchain explorers and market-data websites.&nbsp;



The only Bitcoin an individual may legally hold is Bitcoin permitted under Central Bank rules, marking a sharp departure from the open self-custody model common in most markets.



Under Article 170, penalties for unlicensed activity include imprisonment and fines ranging from 50,000 to 500 million dirhams, equivalent to as much as $136 million. 



The scale of the fines represents a substantial escalation from the country's 2018 framework.



<h3 class="wp-block-heading">Restrictions Fit A Pattern Of Tight Digital Controls</h3>



The UAE continues to maintain strict controls over communication services and online tools.



VoIP functions on apps such as WhatsApp remain blocked nationwide, and rights groups often cite these limits when evaluating digital freedoms.



The expanded financial rules mirror this pattern and reinforce the country's emphasis on centralized control within digital ecosystems.



Similar discussions have emerged in Estonia, Seychelles and parts of the European Union, where regulators have considered limits on noncustodial wallets, although few jurisdictions have adopted measures as broad as the UAE's framework.



<h3 class="wp-block-heading">Why It Matters</h3>



The new law introduces significant compliance considerations for firms operating in the region.



Companies offering noncustodial tools may need full licensing, which could require structural changes to existing products.



Developers and service providers face higher regulatory risk, and investors must consider how these requirements affect market access and business viability.



The rules also affect residents who rely on self-custody wallets or blockchain tools, creating potential barriers to commonly used digital asset services.



As a result, companies may reconsider expansion plans, and users may shift toward regulated custody models that carry fewer regulatory uncertainties.



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Did The UAE Just Ban Bitcoin? No — But What They Did Might Be Even Worse

American Bitcoin Corp. <a class="ticker-link" data-ticker="ABTC" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/ABTC" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABTC">ABTC</a>)</a> slipped to $4.74 on Thursday even as Eric Trump and Donald Trump Jr. boosted the company's Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> holdings, widening the gap between rising treasury conviction and <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48858961/american-bitcoin-q3-earnings-preview-what-you-should-know-about-eric-trumps-venture-and-its-market-momentum">weakening price momentum</a>.



<h3 class="wp-block-heading">Trump Brothers Expanded Bitcoin Holdings In Late October</h3>



American Bitcoin <a href="https://finance.yahoo.com/news/eric-trump-says-the-future-of-finance-is-crypto-211158417.html">announced</a> late October that it added 1,414 Bitcoin worth about $163 million.&nbsp;



The purchase lifted its total holdings to 3,865 Bitcoin, valued near $446 million at the time.&nbsp;



The company said the increase came from strategic acquisitions and mining output.



ABTC jumped more than 11% on that day and traded above $6.20.



Shares had struggled below $6 before the news due to wider crypto market weakness.



Additionally, the update reinforced ABTC's aggressive treasury model during a volatile period.



Executive chairman Asher Genoot said the firm reduces its average cost by producing Bitcoin directly.



He said this gives the company an advantage over those that buy only from the open market.



<h3 class="wp-block-heading">ABTC Now Sits In A Tightening Triangle</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="709" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14071335/image-329-1024x709.png" alt="" class="wp-image-1165468" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14071335/image-329-1024x709.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14071335/image-329-300x208.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14071335/image-329-768x531.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14071335/image-329-1536x1063.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/14071335/image-329.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/NASDAQ-ABTC/">American Bitcoin Corp. Price Analysis (Source: TradingView)</a>



ABTC trades near $4.74 as the pattern compresses between rising support and falling resistance.&nbsp;



The stock sits just above an ascending trendline that has held since May.&nbsp;



A close below this line exposes the large demand block between $3.20 and $3.80.



The 20-day EMA sits near $5.14 and remains the first ceiling for buyers.



The 50-day and 100-day EMAs at $5.67 and $5.71 have capped every bounce since October.



The 200-day EMA at $6.23 marks the top of the broader structure.



The down-sloping resistance line has produced lower highs since September, which creates a narrow compression zone that often precedes sharp moves.



The RSI sits near 41 and shows mild weakness. It is not oversold, but it signals soft demand and slow participation.&nbsp;



Also, previous recoveries started near this level, but no bullish divergence has formed.



<h3 class="wp-block-heading">What A Breakout Would Require</h3>



A move above $5.20 would be the first constructive signal.&nbsp;



That opens a path toward the 50-day and 100-day EMAs near $5.65.&nbsp;



A stronger breakout above $5.70 would target the 200-day EMA around $6.20.



Until then, rallies risk fading quickly. The structure still favors sellers while the stock trades beneath the moving averages.



Read Next: 



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Image: Shutterstock

Eric Trump Praises Bitcoin — But ABTC Faces Brutal Drop To $3.50

XRP <a class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/XRP-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a> has slid 9% in the past 24 hours despite a blockbuster debut for the Canary Spot XRP ETF, which attracted nearly <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48787422/xrp-jumps-10-in-a-week-as-first-ever-spot-etf-eyes-thursday-launch">$250 million on launch day</a>.



What Happened: The inflows mark the largest crypto ETF debut of 2025 and the highest first-day volume among more than 900 ETFs this year, according to NovaDiusWealth President Nate Geraci, who <a href="https://x.com/NateGeraci/status/1989096227271848205">noted</a> that few expected such a strong showing.



The launch coincides with Washington's reopening after a 43-day shutdown, boosting confidence in new crypto ETF approvals. 



Major firms like Fidelity and Invesco have already lined up their own XRP products, while Ripple continues accelerating its ecosystem by tripling its valuation to $40 billion and partnering with Mastercard and Gemini on stablecoin payment rails.



XRP has gained 216.9% over the past year, fueled by growing real-world utility, renewed legal clarity, and anticipation of an ETF listing.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48841231/first-xrp-etf-turns-over-26-million-in-30-minutes-and-xrp-surges-3">First XRP ETF Turns Over $26 Million In 30 Minutes—And XRP Surges 3%</a>



Why It Matters: Crypto supporter Paul Barron <a href="https://x.com/paulbarron/status/1989111436338163806">argued</a> BlackRock underestimated XRP demand, handing Canary a powerful first-mover advantage.



Meanwhile, trader CW <a href="https://x.com/CW8900/status/1989230428490985939">noted</a> XRP has hit a buy wall again, even as volatility picks up.



Trader DonAlt, who entered the launch hype, <a href="https://x.com/CryptoDonAlt/status/1989139270364459066">exited</a> his XRP position with only a minor scratch after early strength faded. He also sold his spot holdings and plans to step back from trading entirely until a high-conviction setup emerges.



Read Next:



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48777654/brad-garlinghouse-looks-beyond-crypto-as-ripple-targets-traditional-finance-with-xrp-powered-blockchain-services">Brad Garlinghouse Looks Beyond Crypto As Ripple Targets Traditional Finance With XRP-Powered Blockchain Services</a></li>
</ul>



Image: Shutterstock

XRP ETF Crowned 2025's Biggest Crypto ETF Debut With $250M Inflows

Bitcoin's sharp decline intensified early Friday, plunging to $96,000 as market fear deepened and ETF outflows surged. 



The Crypto Fear and Greed Index dropped to 22, one of the lowest points of the year.



Spot Bitcoin ETFs saw the second-largest outflow day in history, with $869.9 million net outflows on Thursday. 



Ethereum ETFs also posted heavy redemptions, with $259.7 million in net outflows.



$1.11 billion in positions were liquidated, impacting more than 248,506 traders reflecting a spike in volatility.



4-Year Cycle Not Active Anymore



Ted Pillows <a href="https://x.com/TedPillows/status/1989256177314906196">noted</a> that all three of Bitcoin's previous bear markets began with a death cross, and another one is now approaching. He questioned whether this cycle will finally break the pattern..



Michael van de Poppe <a href="https://x.com/CryptoMichNL/status/1989242396907823501">said</a> Bitcoin must reclaim $101,000 to confirm any serious trend reversal. He added that traders broadly believe the 4-year cycle has already peaked, and that sentiment needs to reset before Bitcoin can move higher.



Crypto chart analyst Ali Martinez <a href="https://x.com/ali_charts/status/1989186779782451323">pointed</a> out that 2.53 million Ethereum were accumulated around $3,150, making it a major support zone for ETH



For Solana, Martinez <a href="https://x.com/ali_charts/status/1989224025277509838">warned</a> that support is thin below $144, with the next meaningful demand area around $124.



Trader CW <a href="https://x.com/CW8900/status/1989230428490985939">said</a> XRP is back in a buy zone.



<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><a href="https://www.benzinga.com/quote/BTC" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a></td><td>$95,563</td></tr><tr><td>Ethereum</td><td><a href="https://www.benzinga.com/quote/ETH" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a></td><td>$3,113.80</td></tr><tr><td>Solana</td><td><a href="https://www.benzinga.com/quote/SOL" target="_blank" class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a></td><td>$138.4            </td></tr><tr><td>XRP</td><td><a href="https://www.benzinga.com/quote/XRP" target="_blank" class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a></td><td>$2.25</td></tr></tbody></table></figure>



The meme coin market cap fell 5.8% to $53.2 billion, mirroring broader risk-off sentiment.



Trader Tardigrade <a href="https://x.com/TATrader_Alan/status/1989226055174131773">highlighted</a> that Dogecoin continues to form a multi-year 5-year triangle pattern on the 6-month chart, with a potential breakout target near $1.20.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Dogecoin</td><td><a href="https://www.benzinga.com/quote/DOGE" target="_blank" class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a></td><td>$0.16</td></tr><tr><td>Shiba Inu</td><td><a href="https://www.benzinga.com/quote/SHIB" target="_blank" class="ticker-link" data-ticker="SHIB" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</a></td><td>$0.059169</td></tr></tbody></table></figure>



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Image: Shutterstock

Bitcoin Crashes Below $96,000 As $1 Billion Wiped Out In Liquidations Across ETH, XRP, Dogecoin

Bitcoin didn't just break below $100,000 this month; it flashed a systemic liquidity warning that equity and credit traders are already reacting to.



While most of the attention stayed on whether the AI trade had finally gone too far, the more interesting move was happening somewhere else: in subprime auto defaults, regional bank funding lines, and margin calls in leveraged crypto positions. 



Earlier in November, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slipped under the psychologically important $100,000 mark for the first time since May, touched an intraday low just below that level, then recovered only slightly. Around the same time, Coinbase dropped nearly 7 percent in a single session and now trades well below its 50-day moving average.



Three different markets. One signal: liquidity is getting tighter.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="899" height="586" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/11/13220551/image-2.jpeg" alt="" class="wp-image-22299" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/11/13220551/image-2.jpeg 899w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/11/13220551/image-2-300x196.jpeg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/11/13220551/image-2-768x501.jpeg 768w" sizes="(max-width: 899px) 100vw, 899px" /></figure>



Bitcoin, Nasdaq &amp; AI Leaders Show Synchronized Decline: From Nov 1-13, 2025, all three asset classes fell together, with Bitcoin breaking below $100K while tech indices retreated. Normalized to 100 on Nov 1 for direct comparison. This cross-asset correlation signals a liquidity squeeze, not isolated crypto weakness



Bitcoin Is Trading Like a Liquidity Guage, Not a Market Movement



For years, Bitcoin has been marketed as a hedge against inflation, politics, and even systemic risk. On days like this, it behaves much more like a high-beta barometer of global liquidity.



The recent move below $100,000 wasn't a slow grind driven by weak fundamentals. It was a deleveraging event:



<ul class="wp-block-list">
<li>Leveraged long positions were forced out as margin calls hit and liquidations rolled through derivatives venues.</li>



<li>ETF outflows and short term traders selling into weakness made the fall steeper.</li>



<li>Order books were thin enough that each round of selling knocked through bids faster than in a calm market.</li>
</ul>



The result is that the 100,000 to 101,000 area has turned into an important short term support band, while the 104,000 to 105,000 region has acted as a ceiling that buyers have not been able to clear.



Long term holders, though, have not dumped their coins. On chain data suggests that the most committed wallets are largely sitting tight. That points to stress at the margin, where borrowed money and short term leverage live, rather than a collapse in long term belief.



For traders, that is the tell. When an asset that is closely tied to speculative capital breaks a key level on forced selling, it usually marks the first place a broader liquidity squeeze shows up.



The Quiet Credit Squeeze Behind the Move



If you step away from the Bitcoin chart, the backdrop looks even more worrisome.



Over the past couple of months, the United States has seen a run of credit market problems that do not fit neatly into the AI narrative. A major subprime auto lender, Tricolor Holdings, filed for bankruptcy and forced write downs at big banks such as JPMorgan Chase and Fifth Third. Losses and fraud related issues have also surfaced at regional lenders including First Citizens, Zions, and Western Alliance.



At the same time, some regional banks have started relying more on the Federal Reserve's short term liquidity backstops, drawing on facilities and repo lines that are designed for periods of stress rather than routine pullbacks. Even without obsessing over weekly usage data, the simple fact that banks are paying up for extra funding tells you something about the mood on their balance sheets.



Credit rating agencies are picking up similar signals in private credit. DBRS Morningstar and others have highlighted that downgrades in several pockets of private debt are now outpacing upgrades. Goldman Sachs Research still argues that recent defaults are not yet systemic, but it has acknowledged that bankruptcies and fraud headlines in late Q3 and early Q4 helped accelerate the selloff in risk assets.



Put together, this does not look like a market that is just cooling off after an AI boom. It looks like the early stage of a credit driven liquidity squeeze that starts in subprime borrowers and regional banks, then moves outward along the risk spectrum.



When banks and private credit funds tighten lending standards and hoard cash instead of writing new deals, the first positions to go are the speculative ones: high beta tech, crypto, and the platforms that sit in the middle of those flows.



Coinbase: When the Plumbing Starts To Creak



If Bitcoin's flirtation with sub 100K levels is the alarm bell, Coinbase's price action is the wiring that connects it to the rest of the market.



That near 7 percent one day drop in Coinbase, leaving the stock well under its 50-day moving average, tells a simple story: crypto's core infrastructure still depends heavily on retail and fast money flows. Coinbase is not yet a sleepy, fee driven utility that shrugs off volatility. When liquidity dries up and volumes fade, the business feels it.



If crypto adoption were truly institutional in the way some marketing suggests, you wouldn't expect the leading United States exchange to swing this hard on a single day without a company specific bombshell. The fact that it does points to how sensitive the ecosystem still is to changes in margin and risk appetite.



The divergence matters:



<ul class="wp-block-list">
<li>Bitcoin has dropped sharply, but long-term holders have mostly stayed in place.</li>



<li>Coinbase has been hit even harder, which reflects stress in the plumbing: custody, trading, and retail brokerage activity.</li>
</ul>



In healthy adoption phases, infrastructure tends to be more stable than the asset it supports. Right now, the opposite is true, and that should get traders' attention.



AI, Trade Tensions, and the Same Liquidity Problem



None of this means AI valuations suddenly stopped mattering. High growth leaders such as Nvidia, Broadcom, and other chip names were always vulnerable to any wobble in macro data or policy.



United States export controls to China have already closed off an important demand channel for advanced chips. Big cloud customers are also exploring their own custom accelerators, which raises questions about how long current growth rates can last. On top of that, valuations are still rich, so even small disappointments can trigger large reductions in risk.



Trade policy only adds to that pressure. The Liberation Day tariffs from April and China's roughly 34 percent response have not gone away. With the political cycle heating up and both sides taking a firm line, semiconductor and AI chip exporters now carry a political risk premium as well as valuation and growth risk. For Nvidia, that can turn a routine correction into the early stages of a structural bear case if tensions increase.



On top of all of that, the data calendar is bunched up. The long government shutdown has left investors flying partly blind on inflation, jobs, and growth. Key releases, including CPI, weekly jobless claims, and the monthly payrolls report, are jammed into the back half of November and early December. Until that information arrives, markets are guessing about the true macro picture.



In that setting, the next Nvidia earnings report later this month becomes an even bigger catalyst. Very strong data center and AI revenue could calm nerves and spark a sharp rally. Cautious guidance on export limits, competition, or hyperscaler spending would do the opposite and reinforce the idea that the liquidity squeeze is not done.



This Is Not 2008, But the Plumbing Matters



Nobody is calling for a repeat of 2008 here.



Large United States banks are far better capitalized than they were before the global financial crisis. The Fed has a long list of lending tools it can use if real panic shows up. For now, funding markets are still functioning.



At the same time, serious problems rarely arrive all at once. They tend to show up first in the plumbing.



Subprime auto defaults, regional bank liquidity draws, more private credit downgrades, and pressure on crypto infrastructure are part of that slow drip. Bitcoin's break below 100,000 dollars, and its struggle to get back through the 104,000 to 105,000 band, are the chart version of that story.



You do not have to believe a crisis is around the corner to take that signal seriously.



Liquidity Stress Indicators To Watch



For traders, the challenge is to turn a broad story into something they can actually monitor. A few places to watch over the next several weeks:



<ul class="wp-block-list">
<li>Regional bank risk and commercial real estate (CRE) exposure Watch price action and rating commentary on regional banks with large commercial real estate and consumer loan books. Negative outlooks or downgrades there are a sign that localized stress is spreading.</li>



<li>Fed facility usage and money markets Follow commentary and available data on bank use of Fed liquidity backstops and repo lines. A steady climb in usage, outside of normal quarter end moves, suggests lenders are stockpiling cash rather than taking risk.</li>



<li>High yield credit spreads If high yield option adjusted spreads break above recent ranges and keep widening, credit stress is becoming more systemic, not just a few isolated blowups.</li>



<li>Crypto infrastructure versus Bitcoin Compare the moves in Coinbase and major crypto ETFs to Bitcoin's own price. If infrastructure stocks lag the asset badly, the plumbing is cracking faster than the asset itself, which is not what you would expect in a healthy adoption phase.</li>



<li>Private credit commentary and flows Listen for language about refinancing pressure, rising downgrades, or tighter terms on new deals on earnings calls from large private credit managers. That is where a lot of credit risk now sits.</li>
</ul>



None of these indicators, on their own, prove that a crisis is coming. Together, they say a lot about the direction of travel.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Indicator</td><td>Current Level</td><td>Typical Max</td><td>Status</td></tr><tr><td>Regional Bank Liquidity Taps (Fed Facility $B)</td><td>45</td><td>15</td><td>Elevated</td></tr><tr><td>Private Credit Downgrades vs. Upgrades (Ratio)</td><td>2.8</td><td>1.2</td><td>Elevated</td></tr><tr><td>High-Yield Spread (bps)</td><td>465</td><td>350</td><td>Elevated</td></tr><tr><td>Coinbase–Bitcoin (5-Day Correlation)</td><td>0.92</td><td>0.45</td><td>Very High</td></tr><tr><td>Subprime Auto Delinquency Rate (%)</td><td>3.4</td><td>2.1</td><td>Elevated</td></tr></tbody></table><figcaption class="wp-element-caption">Key Liquidity Stress Indicators (as of Nov 13, 2025): Every metric is well above typical stress thresholds. It show the systemic nature of this liquidity event, with both the banking system and crypto infrastructure under visible pressure.</figcaption></figure>



A Tactical Setup for Risk Management



This backdrop does not mean traders need to dump every risk asset. It does argue for tighter risk management and some thoughtful hedging.



One example of a simple setup:



<ul class="wp-block-list">
<li>A small pair trade that is long long duration Treasuries through an ETF such as TLT and short the Nasdaq 100 through QQQ. The idea is that if the liquidity squeeze gets worse, high beta tech and AI names will feel more pain than long Treasuries, especially if growth expectations fall and the market leans harder into future Fed cuts.</li>



<li>Signals to lighten up: if Bitcoin can climb back above the 104,000 to 105,000 zone and hold there, and credit spreads tighten, that would suggest the immediate stress phase is easing and the hedge can be reduced.</li>



<li>Signals to add protection: if Coinbase breaks below recent support while high yield spreads widen and Bitcoin struggles to stay above 100,000, that would suggest the squeeze is still building.</li>
</ul>



Position sizing should stay small, maybe one to two percent of a diversified portfolio, and stop losses should be respected. The goal is not to make a heroic macro call. It is to nudge the odds in your favor if the credit and liquidity story keeps getting worse.



What It All Adds Up To



This selloff is more than stretched AI valuations or a single inflation number.



The more convincing story is that markets are working through a layered reset in liquidity. Subprime autos, regional banks, private credit, Bitcoin, Coinbase, and crowded AI trades are all different versions of the same theme: funding is becoming more selective, and the weakest links are getting pulled first.



Whether this episode stops at a correction or grows into something larger will depend less on the next AI headline and more on what happens in the plumbing. Regional bank funding needs, private credit downgrades, and cross asset risk appetite will matter more than the next sound bite.



Bitcoin's dip below 100,000 dollars may not end the crypto bull run. It may end up being remembered as the moment markets started taking the credit story more seriously than the AI story.



Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

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