Billionaire investor&nbsp;Ray Dalio&nbsp;reaffirmed his skepticism toward Bitcoin&#8217;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> potential as a reserve currency on Thursday, while revealing that only a small portion of his portfolio is allocated to the digital asset.



<h2 class="wp-block-heading">Dalio Highlights Quantum Threat For BTC</h2>



During an interview with CNBC, Dalio, founder of&nbsp;Bridgewater Associates, revealed that he has &#8220;forever&#8221; kept roughly 1% of his portfolio in Bitcoin.



When asked if he&#8217;d like to add more, Dalio raised concerns about its potential as a reserve currency.



&#8220;It&#8217;s not going to be a reserve currency for major countries because it can be tracked, and it could be conceivably with quantum computing controlled, hacked, and so on and so forth,&#8221; he argued.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Squawk Pod: Ray Dalio, bubble fears, &amp; Nvidia's beat - 11/20/25 &#x7C; Audio Only" width="500" height="281" src="https://www.youtube.com/embed/7Z1SxxKTCK4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/11/48988852/bitcoin-drops-to-87000-ethereum-loses-3000-xrp-hangs-on-to-2-as-sell-off-continues" target="_blank" rel="noreferrer noopener">Bitcoin Drops To $87,000, Ethereum Loses $3,000, XRP Hangs On To $2 As Sell-Off Continues</a>



Dalio preferred gold over Bitcoin, deeming the yellow metal as the &#8220;most popular non-fiat currency.&#8221;



Dalio previously suggested a <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46653821/ray-dalio-says-15-in-bitcoin-or-gold-may-be-essential-as-fiat-currencies-face-devaluation-risks">15% portfolio allocation to Bitcoin or gold</a>, citing potential currency devaluation risks and mounting U.S. debt concerns. 



<h2 class="wp-block-heading">Bitcoin&#8217;s Privacy A Flaw?</h2>



This isn&#8217;t the first time Dalio has expressed skepticism about central banks considering Bitcoin as a reserve currency. 



Last month, he argued that Bitcoin <a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48009909/ray-dalio-doubts-any-central-bank-would-take-on-bitcoin-as-reserve-currency-despite-many-seeing-it-as-alternative-money-theres-no-privacy">doesn&#8217;t offer privacy</a> because every transaction on its public ledger is public. He also speculated that Bitcoin&#8217;s code could eventually be &#8220;broken.&#8221; These narratives, however, were dismissed as "hand-waved FUD&#8221; by some Bitcoiners.



As for the quantum threat, Bitcoin technologist Jameson Lopp estimates a <a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48485018/exclusive-jameson-lopp-says-bitcoin-users-are-making-a-mistake-that-satoshi-nakamoto-warned-against-were-fighting-against-human-nature">"greater than 50% chance"</a> that it will take at least another decade before a quantum computer,&nbsp;powerful enough to break Bitcoin&#8217;s cryptography, becomes a reality. Some other experts believe the threat is <a href="https://www.benzinga.com/markets/equities/24/12/42420845/googles-quantum-willow-chip-lightyears-from-cracking-bitcoin-expert">&#8220;lightyears away.&#8221;</a>



Price Action: At the time of writing, BTC was exchanging hands at $85,824.79, down 7% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48995105/peter-schiff-says-michael-saylor-led-strategy-would-have-been-better-off-buying-anything-other-than-bitcoin">Peter Schiff Says Michael Saylor-Led Strategy &#8216;Would Have Been Better Off&#8217; Buying Anything Other Than Bitcoin&#8217;</a></li>
</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.



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

Ray Dalio Reveals He Has 'Forever' Had 1% Of His Portfolio Tied Up In Bitcoin, But Still Has These Fears About The Future of BTC

Dogecoin <a href="https://www.benzinga.com/quote/DOGE-USD" target="_blank" class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a> cheered the launch of a new exchange-traded fund on Wall Street on Thursday that aims to provide leveraged exposure to the popular meme coin.



<h2 class="wp-block-heading">Leveraged ETF For DOGE</h2>



Dogecoin&#8217;s official X handle reacted to the debut of the 21Shares 2x Long Dogecoin ETF on the Nasdaq stock exchange. An image showed a billboard displaying congratulatory messages from the exchange, with a stylized Shiba Inu dog at the bottom.



&#8220;Much congrats,&#8221; Dogecoin 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">Much congrats. <a href="https://t.co/Uselzc7kpQ">https://t.co/Uselzc7kpQ</a>&mdash; Dogecoin (@dogecoin) <a href="https://twitter.com/dogecoin/status/1991648814709756012?ref_src=twsrc%5Etfw">November 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The 21Shares 2x Long Dogecoin ETF, operating under the ticker TSSD, is designed to provide investors with twice the daily performance of Dogecoin, before fees and expenses.



&#8220;The ETF allows investors to gain leveraged exposure to Dogecoin through a regulated, exchange-traded structure that can be purchased directly through their bank or broker,&#8221; according to a press release from 21Shares.



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/money/dogecoin-doge-price-prediction">Dogecoin (DOGE) Price Prediction 2025, 2026, 2030</a>



Dogecoin investors were also expecting the launch of Grayscale&#8217;s ETF, which is designed to <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48921459/dogecoin-etf-to-launch-in-a-week-as-shiba-inu-burn-rate-explodes-to-1090">track the spot price</a> of the leading memecoin.



<h2 class="wp-block-heading">DOGE Not Over The &#8216;Moon&#8217;</h2>



Despite the anticipation, DOGE&#8217;s price tumbled on Thursday, weighed down by the <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48994734/bitcoin-trades-below-90000-as-fed-rate-cut-hopes-fade-ethereum-xrp-dogecoin-struggle-analyst-forecasts-healthy-recalibration-next">market&#8217;s overall gloom</a>.



The Moving Average Convergence Divergence indicator, which&nbsp;compares two exponential moving averages of an asset&#8217;s price, flashed a &#8220;Sell&#8221; signal for DOGE, <a href="https://in.tradingview.com/symbols/DOGEUSD/technicals/">according </a>to TradingView. 



The Relative Strength Index was approaching the oversold level, indicating that there was still time for a possible rebound.



Price Action: At the time of writing, DOGE was exchanging hands at $0.1469, down 6.72% in the last 24 hours, and over 10% in the last week, <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.



Photo Courtesy: alfernec on Shutterstock.com



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48840708/doge-vs-shib-only-one-meme-coin-looks-ready-to-explode">DOGE Vs. SHIB: Only One Meme Coin Looks Ready To Explode</a></li>
</ul>

Dogecoin Cheers Debut Of ETF That Aims To Multiply Its Returns: 'Much Congrats'

Economist Peter Schiff slammed Strategy Inc.&#8217;s <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> 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> investment approach on Thursday, arguing that the company would have been better placed had it chosen any other asset.



<h2 class="wp-block-heading">Schiff Sees Problems For Strategy</h2>



In an X post, Schiff pointed out that despite spending over $48 billion on Bitcoin in the past five years, the company&#8217;s total paper profits are less than 17%. 



Schiff also took a swipe at Strategy co-founder Michael Saylor, stating, &#8220;Had Saylor bought just about any other asset, MSTR would have been better off.&#8221;



He also said that the company would &#8220;vanish&#8221; if it tried to take profits on its BTC holdings.



<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">At this point, after over five years and more than $48 billion spent buying Bitcoin, <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> now has total paper profits of less than 17%. Had Saylor bought just about any other asset, MSTR would have been better off. Plus, if Saylor ever tries to realize this gain, it will vanish.&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1991662950302797884?ref_src=twsrc%5Etfw">November 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Bitcoin&#8217;s Slump Affects MSTR</h2>



Bitcoin&#8217;s ongoing decline has <a href="https://www.benzinga.com/trading-ideas/movers/25/11/48927421/bitcoin-plunges-to-6-month-low-why-strategy-mstr-investors-are-feeling-the-pain">significantly impacted Strategy&#8217;s balance sheet</a>. The company currently holds&nbsp;649,870 BTC at an average&nbsp;price of $74,433. This effectively means that if Bitcoin falls another 13% from its current price,&nbsp;Startegy&#8217;s position will turn red.



Moreover, the MSTR stock has dropped 40% over the last month and 60% from its record highs set earlier this year.



See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/11/48959044/peter-schiff-warns-the-race-to-get-out-of-bitcoin-is-on-as-btc-drops-4" target="_blank" rel="noreferrer noopener">Peter Schiff Warns &#8216;The Race To Get Out Of Bitcoin Is On&#8217; As BTC Drops 4%</a>



Schiff has escalated the attack on Saylor and his Bitcoin-hoarding company lately. Earlier this week, he argued that the company&#8217;s high-yield preferred shares, marketed as income products, are dangerously misunderstood by investors. He warned that dividends could disappear if not declared by the company.



<h2 class="wp-block-heading">Saylor Says Company Is Secured</h2>



Saylor, on the other hand, has defended the company&#8217;s business model. He stated that as long as Bitcoin increases by 1.25% annually, Strategy can maintain its dividend payments indefinitely and boost shareholder value. He also claimed that the company is <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48969065/michael-saylor-says-strategy-will-continue-to-create-shareholder-value-as-long-as-bitcoin-grows-by-this-much-annually">"engineered" to endure&nbsp;an 80 to 90% drawdown</a>&nbsp;and continue operating. 



Strategy has indicated earlier that if it fails to secure equity and debt financing on time, it may have to sell Bitcoin to pay its financial obligations, and that too at a price lower than the cost basis. Though a usual disclaimer, it contrasted sharply with&nbsp;<a href="https://in.benzinga.com/markets/cryptocurrency/25/02/44044388/michael-saylor-says-sell-a-kidney-but-keep-the-bitcoin-but-mstr-is-down-28-since-he-appeared-on-the-cover-of-forbes" target="_blank" rel="noreferrer noopener">Saylor's "Never sell your Bitcoin" narrative</a>.



Price Action: At the time of writing, BTC was exchanging hands at $86,071.65, down 6.75% 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>.



Strategy shares rose 0.21% in after-hours trading to $177.50. The stock closed 5.02% lower at $177.13&nbsp;during Thursday&#8217;s regular trading session.



The stock maintains a weaker price trend over the short, medium and long terms. How does it compare with&nbsp;Coinbase Global Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COIN">COIN</a>) and other cryptocurrency-linked stocks? Visit&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>&nbsp;to find out.



<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="968" height="192" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20215039/image-510.png" alt="" class="wp-image-1176497" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20215039/image-510.png 968w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20215039/image-510-300x60.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20215039/image-510-768x152.png 768w" sizes="(max-width: 968px) 100vw, 968px" /></a></figure>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48988852/bitcoin-drops-to-87000-ethereum-loses-3000-xrp-hangs-on-to-2-as-sell-off-continues">Bitcoin Drops To $87,000, Ethereum Loses $3,000, XRP Hangs On To $2 As Sell-Off Continues</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: T. Schneider on Shutterstock.com

Peter Schiff Says Michael Saylor-Led Strategy 'Would Have Been Better Off' Buying Anything Other Than Bitcoin'

Leading cryptocurrencies fell further alongside stocks on Thursday, as stronger jobs data cast doubt on whether the Federal Reserve will deliver another&nbsp;rate cut in December.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 8:25 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>-5.55%</td><td>$87,077.36</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>-5.31%</td><td>$2,868.39</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>-5.08%</td><td>$2.01</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>-3.37%</td><td>$134.31</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>-3.37%</td><td>$0.1501</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">BTC Down 30% From Highs</h2>



Bitcoin sank below $87,000 for the first time in seven months, deepening its ongoing bearish trend. The apex cryptocurrency traded 30% below its all-time highs set only six weeks ago. BTC traded between $86,040.80 and $93,025.07 for the day.



Ethereum briefly slipped below $2,800 before recovering part of its losses overnight. Regardless, the second-largest cryptocurrency has erased all the gains made since mid-July.



Cryptocurrency liquidations spiked to $821 million in the last 24 hours, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass, with nearly $700 million in long positions wiped out.



That said, roughly $383 million in shorts could be liquidated if Bitcoin reclaimed $95,000.



Bitcoin's open interest fell 2.55% in the last 24 hours. Since Bitcoin&#8217;s all-time high on Oct. 7, more than $28 billion locked in its derivatives have been erased.



The "Extreme Fear" sentiment prevailed, <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 8:25 p.m. ET)</th></tr></thead><tbody><tr><td>Tensor (TNSR )&nbsp;&nbsp;&nbsp;</td><td>+184.78%</td><td>$0.2305</td></tr><tr><td>Audiera (BEAT)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+82.26%</td><td>$0.8933</td></tr><tr><td>Staika (STIK )&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+45.48%</td><td>$0.8670 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization fell below $3 trillion, following a decline of 4.25% in the last 24 hours.



<h2 class="wp-block-heading">Stocks End Lower As Labor Report Dampens Rate Cut Hopes </h2>



The stock market rebound lost steam on Thursday. The Dow Jones Industrial Average tumbled 386.51 points, or 0.84%, to end at 45,752.26. The S&amp;P 500 slipped 1.56% to end at 6,538.76, while the tech-heavy Nasdaq Composite shed 2.16% to finish the day at 22,078.05.



Shares of 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> <a href="https://www.benzinga.com/markets/equities/25/11/48983895/markets-today-wall-street-thursday-nvidia-nvda-tech-stocks-walmart-bitcoin">closed down 3%</a>, reversing after earlier gaining on strong earnings and guidance.



Benzinga Edge delivers real-time stock alerts, trade ideas, and professional investing tools to help you navigate the market. <a href="https://www.benzinga.com/edge/">Find out more about NVDA here.</a>



Meanwhile, non-farm payrolls jumped by 119,000 in September, reviving growth optimism and casting doubt on the December rate cut. As of this writing, traders priced in a 39% chance that the Fed will slash rates by 25 basis points, down from 50% a week earlier, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according</a> to the CME FedWatch tool.



<h2 class="wp-block-heading">Why $2,800 Is &#8216;Important&#8217; For ETH?</h2>



Jamie Elkaleh, Chief Marketing Officer at Bitget Wallet, noted the increased coupling of the cryptocurrency market with traditional finance.



"That link is ultimately positive for long-term adoption, even if it creates short-term pressure," Elkaleh said in a note to Benzinga.



The analyst added that reduced liquidity expectations can weigh in on Bitcoin and Ethereum, triggering "risk-off sentiment" in the near term.



"I view the next few months as a healthy recalibration rather than the start of prolonged weakness, helping flush out speculative excess and setting the stage for more stable growth," Elkaleh noted.



On-chain analytics firm CryptoQuant highlighted that $2,800, which aligns with realized price clusters of retail and whale investors, serves as an "important" support level for Ethereum.



"Historically, realized price levels have often marked cycle bottoms, suggesting that this range could once again provide a foundation for a short-term rebound," the firm added.



<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">ETH $2.8K as a Key On-Chain Support Level, Signals Potential Rebound "Historically, realized price levels have often marked cycle bottoms, suggesting that this range could once again provide a foundation for a short-term rebound." – By <a href="https://twitter.com/MAC_D46035?ref_src=twsrc%5Etfw">@MAC_D46035</a> <a href="https://t.co/vF2JUnJggE">pic.twitter.com/vF2JUnJggE</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1991436515080302700?ref_src=twsrc%5Etfw">November 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



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<li><a href="https://www.benzinga.com/markets/economic-data/25/11/48974405/september-jobs-report-interest-rate-december-federal-reserve">How Bitcoin Went From All-Time High Euphoria To Extreme Fear In 6 Weeks</a></li>
</ul>



Photo Courtesy: Pixamin on Shutterstock.com

Bitcoin Trades Below $90,000 As Fed Rate Cut Hopes Fade; Ethereum, XRP, Dogecoin Struggle: Analyst Forecasts 'Healthy Recalibration' Next

Dogecoin <a class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/DOGE-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a> is tumbling Thursday afternoon, trading around $0.1497, a decline of over 5.4%. The meme coin's drop is part of a broader risk-off sentiment sweeping financial markets, triggered by a hotter-than-expected <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/11/48987434/interest-rate-expectations-powell-december-fed-cut-hold-jerome-powell-jobs-report">U.S. jobs report</a>.



<ul class="wp-block-list">
<li>Find out how DOGE is doing<a href="https://www.benzinga.com/quote/DOGE-USD"> here</a>.</li>
</ul>



The Bureau of Labor Statistics reported 119,000 non-farm payrolls added in September, shattering the consensus forecast of 50,000. This strong economic data has <a href="https://www.benzinga.com/markets/equities/25/11/48983895/markets-today-wall-street-thursday-nvidia-nvda-tech-stocks-walmart-bitcoin">forced investors</a> to recalibrate their expectations for the Federal Reserve, significantly lowering the probability of a December interest rate cut. With the Fed now expected to maintain a &#8220;dovish hold&#8221; to combat mixed economic signals, capital is fleeing speculative assets.



Read Next: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48984192/xrp-is-valued-at-130-billion-but-makes-only-5000-a-day-in-revenue-what-gives" target="_blank" rel="noreferrer noopener">XRP Is Valued At $130 Billion, But Makes Only $5,000 A Day In Revenue: What Gives?</a>



The sell-off has hammered the wider cryptocurrency sector. Bitcoin <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48988852/bitcoin-drops-to-87000-ethereum-loses-3000-xrp-hangs-on-to-2-as-sell-off-continues">has plunged over 6.5%</a> to approximately $86,800, while Ethereum has shed roughly 7.2%. The negative sentiment also dragged down crypto-linked equities, with Coinbase sliding 6.4% and the tech-heavy Nasdaq-100 falling as much as 1.8%.



For Dogecoin holders, the immediate outlook remains volatile as the market digests the reality that lower interest rates, often a fuel for crypto rallies, may be further away than anticipated.



Read Also: • <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/11/48987434/interest-rate-expectations-powell-december-fed-cut-hold-jerome-powell-jobs-report">Powell Set For A &#8216;Dovish Hold&#8217; In December, Economists Say After Jobs Data</a>



Photo: Shutterstock

Why Dogecoin (DOGE) Is Getting Hammered Today

A plummeting cryptocurrency market has hit blockchain-adjacent enterprises hard, with Coinbase Global Inc <a class="ticker-link" data-ticker="COIN" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/COIN" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COIN">COIN</a>)</a> being one of the more prominent victims. Because the company's success is directly tied to the health of cryptos, it wasn't surprising that COIN stock plunged. However, the bigger issue is the Federal Reserve, which is <a href="https://www.benzinga.com/markets/equities/25/11/48983895/markets-today-wall-street-thursday-nvidia-nvda-tech-stocks-walmart-bitcoin">pensive about its monetary policy</a>. Despite the turmoil that this matter has caused, there may be reason for optimism.



Granted, it's been a rotten week for the equities sector. In the trailing five sessions, the S&amp;P 500 is down 2%, while the tech-centric Nasdaq Composite slipped about 2.5% during the same period. Even mighty Nvidia Corp <a href="https://www.benzinga.com/quote/NVDA" target="_blank" class="ticker-link" data-ticker="NVDA" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>)</a>, which delivered another blockbuster quarterly performance and raised outlook, could not lift Wall Street.



Primarily, the culprit appeared to be a hotter-than-expected U.S. jobs report. While such a print would have been considered great news in most other contexts, it also dampened enthusiasm for a December rate cut. As such, risk-on sentiment faltered as investors readjusted their expectations in light of the new information.



Nevertheless, the nuance here is that the labor market is still relatively weak. Even amid the positive surprise in the latest jobs reading, the <a href="https://www.benzinga.com/markets/economic-data/25/11/48974405/september-jobs-report-interest-rate-december-federal-reserve">unemployment rate edged up</a> from 4.3% to 4.4% — marking the highest level since October 2021.



To be fair, oddsmakers have pegged about a 35% chance of a quarter-point cut from the Fed next month. That's not great but it's far from a consensus <a href="https://www.cnbc.com/2025/11/20/fed-likely-to-not-cut-rates-in-december-following-delayed-september-data-according-to-market-odds.html">expectation</a>. In a note to CNBC, Kay Haigh, global co-head of fixed income and liquidity solutions at Goldman Sachs Asset Management, stated that a "December cut remains possible given continued labor market softness as expressed by the unemployment rate."



Yes, COIN stock losing 30% in the trailing month is downright hideous. Still, there's also reason to believe in the contrarian case.



<h2 class="wp-block-heading">Leveraging The Power Of Data Science To Trade COIN Stock</h2>



According to authors Philip E. Tetlock and Dan Gardner, it's incredibly difficult for humans to make sense of apparent randomness. "We don&#8217;t have an intuitive feel for it. Randomness is invisible from the tip-of-your-nose perspective. We can only see it if we step outside ourselves," they wrote in the book Superforecasting: The Art and Science of Prediction.



In a seminal experiment, psychologist Ellen Langer demonstrated that even Yale students — among the best and brightest in society — can be duped into believing that they can find patterns in coin tosses, a ridiculous notion when viewed objectively. Such insights reveal the critical flaw of fundamental and technical analysis, which assume universal cause-and-effect signals.



In quantitative analysis, we let the data speak for itself. That alone is a paradigm shift in thinking. However, one of the biggest hurdles is functionality. In my particular quant model, I do not treat price as a journey across time. Instead, I treat probability density as a function of price.



Stated differently, we're focused primarily on where a security tends to cluster given hundreds (if not thousands) of repeated trials. Further, by analyzing the trials of price behaviors associated with specific signals, we can determine whether there are behavioral variances — which may indicate an informational arbitrage between expected outcomes versus what is contextually realistic.



Using a Kolmogorov-Markov framework layered with kernel density estimations (KM-KDE), the forward 10-week median (nominal) returns can be arranged as a distributional curve, with outcomes ranging between roughly $237 and $255 (assuming an anchor price of $242.14). Further, price clustering would also likely be predominant around $242.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="422" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20153244/COIN-stock-probability-distributions-1024x422.png" alt="" class="wp-image-1176138" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20153244/COIN-stock-probability-distributions-1024x422.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20153244/COIN-stock-probability-distributions-300x124.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20153244/COIN-stock-probability-distributions-768x317.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20153244/COIN-stock-probability-distributions.png 1189w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image by author</figcaption></figure>



The above assessment aggregates all sequences since Coinbase's public market debut. However, we're interested in the response to a specific signal. In the trailing 10 weeks, COIN stock printed a 3-7-D sequence: three up weeks, seven down weeks, with an overall downward slope.



Under this signal, the following 10-week median returns tend to range between $220 and $320. Moreover, price clustering would likely be predominant around $269. Essentially, we have an informational arbitrage of 11.16% in probability density dynamics relative to baseline conditions.



There's a hidden geometry in every publicly traded security, which is why quantitative models will rise to the forefront of financial analysis. We're just several years ahead of the game.



<h2 class="wp-block-heading">Trading Is The Easy Part</h2>



Since we have an empirical idea of where COIN stock is likely to cluster, it's much easier to formulate a plan. I'm looking at the 260/270 bull call spread expiring Jan. 16, 2026. This trade involves two simultaneous transactions: buy the $260 call and sell the $270 call, paying a net debit of $375 (the most that can be lost).



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20153948/COIN-stock-L10-probability-density-1024x576.jpg" alt="" class="wp-image-1176159" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20153948/COIN-stock-L10-probability-density-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20153948/COIN-stock-L10-probability-density-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20153948/COIN-stock-L10-probability-density-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20153948/COIN-stock-L10-probability-density.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Almost every broker should allow you to place the above trade as a combined single execution. If COIN stock rises through the second-leg strike ($270) at expiration, the maximum profit is $625, a payout of about 167%. Breakeven lands at $263.75, making this an enticing idea.



It's also sensible, assuming of course that you believe that prior statistical trends will follow through again in the future. We're placing the target strike right on the thickest part of the distributional curve, which is where probability density is most prominent. We could choose to try for a higher strike such as $300. However, that's a thinner part of the distribution, which means that it's less likely to reach there.



With quantitative analysis, there's a reason why we do what we do — it's not just vibes and trust-me-bro logic. Adopting this minority mindset already puts you ahead of the game.



The opinions and views expressed in this content are those of the individual author and do not necessarily reflect the views of Benzinga. Benzinga is not responsible for the accuracy or reliability of any information provided herein. This content is for informational purposes only and should not be misconstrued as investment advice or a recommendation to buy or sell any security. Readers are asked not to rely on the opinions or information herein, and encouraged to do their own due diligence before making investing decisions.



Read More:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/options/25/11/48961846/sofi-stock-hidden-geometry-contrarian-reversal-signal">Options Corner: Profiting From The &#8216;Hidden Geometry&#8217; Of SoFi Technologies</a></li>
</ul>



Image: Shutterstock

Options Corner: Monetary Policy Turmoil Hands Over A Contrarian Case For Coinbase

Bitcoin continued its decline on Thursday, breaking key support levels as sentiment continues to deteriorate amid a broader market sell-off.



<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>$86,585</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>$2,833</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>$133.31</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</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>$0.1411</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>$0.058164</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>Coinglass data shows 215,171 traders were liquidated in the past 24 hours for $827.79 million.        </li>



<li>In the past 24 hours, top losers include MYX Finance, Canton and Aster.</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48968138/bullish-ceo-sees-growth-catalyst-in-crypto-market-structure-bill-not-having-to-go-to-each-of-the-50-states-to-gain-approvals-will-be-a-boon">Bullish CEO Sees Growth Catalyst In Crypto Market Structure Bill: &#8216;Not Having To Go To Each Of The 50 States&#8217; To Gain Approvals Will Be A &#8216;Boon&#8217;</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48973301/blackrock-preps-staked-ethereum-etf-launch-but-vitalik-buterin-warns-against-wall-street-capture">BlackRock Preps Staked Ethereum ETF Launch—But Vitalik Buterin Warns Against &#8216;Wall Street Capture&#8217;</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48969881/bitmine-immersion-stocks-momentum-what-you-should-know-about-tom-lees-ethereum-treasury-company-as-q4-results-near">BitMine Immersion Stock&#8217;s Momentum: What You Should Know About Tom Lee&#8217;s Ethereum Treasury Company As Q4 Results Near</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48969065/michael-saylor-says-strategy-will-continue-to-create-shareholder-value-as-long-as-bitcoin-grows-by-this-much-annually">Michael Saylor Says Strategy Will Continue To Create Shareholder Value As Long As Bitcoin Grows By This Much Annually</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48984192/xrp-is-valued-at-130-billion-but-makes-only-5000-a-day-in-revenue-what-gives">XRP Is Valued At $130 Billion, But Makes Only $5,000 A Day In Revenue: What Gives?</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48972238/robinhood-ceo-says-ai-wont-kill-money-heres-what-he-would-invest-in">Robinhood CEO Says AI Won&#8217;t Kill Money—Here&#8217;s What He Would Invest In</a></li>
</ul>



Trader Notes: Bitcoin investor Lark Davis <a href="https://x.com/TheCryptoLark/status/1991574817338806299">noted</a> that rate-cut odds for December fell sharply to 31% after the Bureau of Labor Statistics confirmed there would be no October jobs report and November's report will arrive after the upcoming FOMC meeting.



With Fed Chair Jerome Powell effectively "flying blind" on labor data, markets now expect the Fed to avoid a rate cut, a shift that weighed heavily on Bitcoin, dragging it down to $86,000.



Altcoin Sherpa <a href="https://x.com/AltcoinSherpa/status/1991554981779107957">sees</a> Bitcoin's next major demand zone between $75,000 and $87,000, suggesting the market could find its eventual bottom within this range.



Michael van de Poppe <a href="https://x.com/CryptoMichNL/status/1991542691339903140">highlighted</a> BTC setting a fresh local low. For any meaningful reversal, he says Bitcoin must deliver a strong bounce on high volume and break above the 4H 20-day MA to print a higher high; without that, the downtrend remains intact.



ShardiB2 <a href="https://x.com/ShardiB2/status/1991571160400818551">pointed</a> out Bitcoin's daily RSI has collapsed to 25, signalling deeply oversold conditions. A rebound off the weekly EMA and a successful hold at current levels would form the ideal bullish setup.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48980099/how-bitcoin-went-from-all-time-high-euphoria-to-extreme-fear-in-6-weeks">How Bitcoin Went From All-Time High Euphoria To Extreme Fear In 6 Weeks</a></li>
</ul>



Image: Shutterstock

Bitcoin Drops To $87,000, Ethereum Loses $3,000, XRP Hangs On To $2 As Sell-Off Continues

Canary Capital Group has launched a new exchange-traded product that aims to capture the growing interest in Solana and yield-generating crypto strategies. Canary Marinade Solana ETF <a href="https://www.benzinga.com/quote/SOLC" target="_blank" rel="noopener"></a><a class="ticker-link" data-ticker="SOLC" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/SOLC" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SOLC">SOLC</a>)</a> has been positioned as a way for investors to gain spot exposure to SOL, the native token of the 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> blockchain, while accessing staking rewards, a feature still uncommon among U.S.-listed crypto funds.



The company said the product is an alternative way for investors to get direct exposure to Solana without needing to manage wallets, private keys, or exchange accounts. A highlight of the ETF will be its embedded staking mechanism, whereby SOLC holders can benefit from rewards generated via the proof-of-stake nature of the Solana blockchain. These rewards are therefore similar to variable interest payments for supporting the operation and security of the blockchain.



Staking has increasingly been considered a gateway to passive income in the digital asset world. Beyond the earnings potential, it plays a role in strengthening the security and decentralization of Solana, hence giving SOLC its twofold appeal: exposure to one of the fastest-expanding blockchain ecosystems and an opportunity to capture additional yield.



It has been attracting much attention with its fast speeds, low fees, and broadening presence across DeFi, consumer applications, and enterprise use. Observers have remarked how network ecosystem growth has been one of the major draws for investors looking to the next phase of blockchain utility.



According to Canary Capital&#8217;s leadership, Solana represents the direction in which blockchain adoption is going due to its efficiency, community participation, and greater scope for financial inclusion. They said that SOLC was designed to offer that kind of exposure within a familiar ETF structure but also with an eye on staking as a new frontier at the place where traditional finance and crypto overlap.



Canary&#8217;s product lineup that has been gaining attention since the firm <a href="https://www.benzinga.com/etfs/new-etfs/25/11/48870573/xrp-etf-story-isnt-about-hype-its-about-a-payments-revolution">launched the first US-listed spot XRP ETF</a> earlier this month. That fund, the Canary XRP ETF <a class="ticker-link" data-ticker="XRPC" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/XRPC" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/XRPC">XRPC</a>)</a>, began trading on Nov 13 with a 0.50% expense ratio and scored a standout $58 million in first-day trading volume, the highest for any ETF debut in 2025, according to Bloomberg's Eric Balchunas. The strong reception signaled a growing appetite for regulated access to major digital assets.



With the launch of SOLC, Canary Capital announced its continued interest in making the field of digital asset investing less complex while increasing general access to the crypto economy.



The launch of SOLC is among nine Solana-focused ETFs launched or set to be launched this week.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/new-etfs/25/11/48985863/thrivent-turns-mutual-funds-into-small-and-mid-cap-value-etfs-heres-whats-inside">Thrivent Turns Mutual Funds Into Small- And Mid-Cap Value ETFs: Here&#8217;s What&#8217;s Inside</a></li>
</ul>



Photo: Shutterstock

This New Solana ETF By Canary Wants To Make Crypto Income A One-Click Affair

Ethereum's <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> decisive break below the critical $3,000 level has reignited a months-long debate: was the prior bullish thesis driven by real fundamentals—or by a deep misunderstanding of <a href="https://www.benzinga.com/money/ethereum-eth-price-predictions">how Ethereum works</a>?



What Happened: Prominent trader Andrew Kang publicly <a href="https://x.com/Rewkang/status/1970782770805813392?s=20">shredded</a> Tom Lee's bullish ETH thesis, calling it "deeply flawed" and "financially illiterate" in September as ETH was 10% off its all-time high. 



Kang argued that Ethereum's valuation hinges far more on macro liquidity and speculative belief than on structural fundamentals.



He <a href="https://www.benzinga.com/crypto/cryptocurrency/25/09/47840711/tom-lees-ethereum-bull-thesis-slammed-as-financially-illiterate">outlined</a> several key weaknesses—including limited stablecoin and RWA adoption, institutional staking dynamics, and valuation misalignment with real financial infrastructure—and warned that without major changes, ETH could underperform and remain range-bound.



Fast-forward less than two months and Ethereum has now plunged 32.3%, wiping out a large chunk of investor wealth and lending weight to Kang's bearish call. 



Kang <a href="https://x.com/Rewkang/status/1974525186033832347">reiterated</a> in October that ETH's &#8220;strength has limits," noting he has been bearish since ETH/BTC was 0.07.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48973301/blackrock-preps-staked-ethereum-etf-launch-but-vitalik-buterin-warns-against-wall-street-capture">BlackRock Preps Staked Ethereum ETF Launch—But Vitalik Buterin Warns Against &#8216;Wall Street Capture&#8217;</a>



Why It Matters: Crypto analyst Ted Pillows <a href="https://x.com/TedPillows/status/1991421794436411810">noted</a> ETH briefly dipped below $2,900 before bouncing but stressed that reclaiming $3,200 is essential for a local bottom. Failure to do so, he warned, "will result in a bigger correction."



Pillows <a href="https://x.com/TedPillows/status/1991533744411537893">added</a> that BlackRock sold $1.1 billion in ETH during November, marking a sharp shift from earlier institutional accumulation. While October's selloff came from Asian whales, he said November's damage was driven by U.S. institutions.



Trader Niels <a href="https://x.com/Web3Niels/status/1991509495042748613">pointed</a> to an under-the-surface dynamic: roughly 18% of ETH has left exchanges in the final leg of the cycle, flowing into ETFs and institutional custody. These holders tend to accumulate, not trade, reducing liquid supply and priming the market for an eventual high-pressure move.



Meanwhile, Onchain Lens <a href="https://x.com/OnchainLens/status/1991543033834443000">reported</a> that trader Machi was partially liquidated on a 25x ETH long, taking losses exceeding $20 million, a stark reflection of market stress.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48971787/bitcoin-back-to-91000-as-ethereum-xrp-dogecoin-try-to-hold-key-levels">Bitcoin Back To $91,000 As Ethereum, XRP, Dogecoin Try To Hold Key Levels</a></li>
</ul>



Image: Shutterstock

Ethereum Is Down 32% Since Trader Slammed Tom Lee's Bull Thesis As 'Financially Illiterate'

Cardano's <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> 7% drop means ADA has lost a key support level and may be headed <a href="https://www.benzinga.com/money/cardano-price-prediction#:~:text=What%20will%20Cardano%20be%20worth%20in%202025%3F&amp;text=According%20to%20price%20predictions%2C%20ADA,estimates%20as%20high%20as%20%241.376.">to $0.32 next.</a>



<h3 class="wp-block-heading">Cardano Weekly Breakdown Signals Shift Into Bearish Distribution</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="728" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134230/image-507-1024x728.png" alt="" class="wp-image-1176043" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134230/image-507-1024x728.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134230/image-507-300x213.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134230/image-507-768x546.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134230/image-507-1536x1091.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134230/image-507.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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



ADA has slipped below the long-standing weekly trendline that supported its past two bull recoveries.&nbsp;



The break shifts the structure into a distribution phase, with price now testing the $0.40 region that served as a launchpad during earlier rallies.



On-balance volume has been declining for months, signaling that long-term holders are reducing exposure instead of absorbing sell pressure.&nbsp;



The weekly RSI sits near 34, showing continued weakness without reaching conditions linked to major reversals.



The broader pattern resembles a multi-quarter symmetrical triangle that has now failed on the downside.&nbsp;



ADA lost its final higher-low anchor near $0.48 and slid into the mid-$0.30s demand band, aligning with earlier cycle pivot levels.



<h3 class="wp-block-heading">Triangle Failure Points Toward $0.32 To $0.36 Zone</h3>



The measured extension of the failed weekly triangle aligns with the $0.32 to $0.36 region, a zone that marks the deepest liquidity pocket on the historical volume profile.&nbsp;



The reaction there will help determine whether ADA is nearing capitulation or entering a prolonged undervaluation phase similar to early 2023.



<h3 class="wp-block-heading">Four-Hour Cardano Chart Confirms Persistent Downtrend</h3>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1455" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134514/CARDANO-21ST-NOV-BZ.png" alt="" class="wp-image-1176051" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134514/CARDANO-21ST-NOV-BZ.png 2048w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134514/CARDANO-21ST-NOV-BZ-300x213.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134514/CARDANO-21ST-NOV-BZ-1024x728.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134514/CARDANO-21ST-NOV-BZ-768x546.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134514/CARDANO-21ST-NOV-BZ-1536x1091.png 1536w" sizes="(max-width: 2048px) 100vw, 2048px" /></figure>



<a href="https://in.tradingview.com/symbols/ADAUSD/?exchange=CRYPTO">Cardano 4-Hour Price Analysis (Source: TradingView)</a>



The 4-hour structure remains locked inside a descending channel with clean lower highs forming along the upper boundary.&nbsp;



Every recovery attempt has rejected at the 20 EMA, now near $0.4666. The 50 EMA at $0.4924 and the 200 EMA at $0.5789 remain well above current levels.



Parabolic SAR remains above price across intraday frames, confirming that sellers continue to control short-term direction.&nbsp;



The lower boundary of the channel allows room for a test of $0.38 without breaking the downtrend.



Broader market sentiment remains fragile 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> slides to $86,500 with a sharp 5% drop, and 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> trades near $2,820 while sitting on its most critical support zone of the quarter.&nbsp;



<h3 class="wp-block-heading">Spot Outflows Accelerate As Buyers Step Back</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="257" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134505/CARDANO-NF-BZ-20TH-NOV-1024x257.png" alt="" class="wp-image-1176050" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134505/CARDANO-NF-BZ-20TH-NOV-1024x257.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134505/CARDANO-NF-BZ-20TH-NOV-300x75.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134505/CARDANO-NF-BZ-20TH-NOV-768x192.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134505/CARDANO-NF-BZ-20TH-NOV-1536x385.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134505/CARDANO-NF-BZ-20TH-NOV.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://www.coinglass.com/currencies/ADA/spot">ADA Netflows as of November 20th (Source: Coinglass)</a>



Coinglass data shows ADA recorded $4.82 million in net outflows on Nov. 20, marking the fourth straight negative print.&nbsp;



Spot weakness has persisted for months, with no meaningful positive-flow days in the past week.&nbsp;



Historical patterns suggest Cardano tends to stabilize only after spot flows turn positive, which is not yet evident.



<h3 class="wp-block-heading">Derivatives Positioning Flags Potential Liquidations</h3>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="957" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134446/CARDANO-20TH-NOV-DERIVATIVES.png" alt="" class="wp-image-1176049" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134446/CARDANO-20TH-NOV-DERIVATIVES.png 2048w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134446/CARDANO-20TH-NOV-DERIVATIVES-300x140.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134446/CARDANO-20TH-NOV-DERIVATIVES-1024x479.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134446/CARDANO-20TH-NOV-DERIVATIVES-768x359.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20134446/CARDANO-20TH-NOV-DERIVATIVES-1536x718.png 1536w" sizes="(max-width: 2048px) 100vw, 2048px" /></figure>



<a href="https://www.coinglass.com/currencies/ADA/futures">ADA Derivative Analysis (Source: Coinglass)</a>



Open interest has slipped to about $742 million, slightly lower but still elevated relative to earlier phases of the year.&nbsp;



Long-short ratios on major venues such as Binance and OKX range from 1.83 to 2.82, indicating that bullish traders are attempting to buy dips aggressively.



This imbalance increases the risk of forced long liquidations if ADA continues to weaken.&nbsp;



About $1.76 million in liquidations were recorded over the past 24 hours, mostly from long positions, reinforcing downside pressure.



A break below $0.40 could trigger additional unwinding across leveraged books and accelerate movement toward the deeper $0.36 to $0.32 liquidity zone.



Read next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/11/48985337/bitmine-immersion-technologies-bmnr-stock-slides-amid-ethereum-sell-off">BitMine Immersion Technologies (BMNR) Stock Slides Amid Ethereum Sell-Off</a></li>
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Image: Shutterstock

Cardano Plunges 7%: ADA's Next Stop May Be $0.32

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 plummeted below $88,00, but Cardano&#8217;s <a href="https://www.benzinga.com/quote/ADA-USD" target="_blank" class="ticker-link" data-ticker="ADA" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>)</a> Charles Hoskinson says everything points to $250,000 by late 2026.



<h3 class="wp-block-heading">Hoskinson Calls BTC's Next Two Quarters ‘Downside Clearing'</h3>



Speaking <a href="https://www.youtube.com/watch?v=kop3tiai4L4">during</a> a Squawk Box Europe segment on Tuesday, Hoskinson said the market is still digesting macro pressures, including tariff-driven uncertainty and uneven economic momentum. 



He noted that "the next two quarters" will likely clear the remaining downside before Bitcoin resumes its long-term trajectory toward $250,000.



<a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48952690/cardanos-charles-hoskinson-warns-trump-era-crypto-boom-was-a-rib-crushing-hug">Hoskinson</a> pointed to the post-halving timing structure.&nbsp;



He said previous Bitcoin patterns typically show major upside 400 to 600 days after a halving event, placing 2026 inside the historically strong window.



He also highlighted institutional participation, mentioning that BlackRock Inc. <a href="https://www.benzinga.com/quote/BLK" target="_blank" class="ticker-link" data-ticker="BLK" data-exchange="NYSE" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BLK">BLK</a>)</a>, Goldman Sachs Group Inc. <a href="https://www.benzinga.com/quote/GS" target="_blank" class="ticker-link" data-ticker="GS" data-exchange="NYSE" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GS">GS</a>)</a>, Morgan Stanley <a href="https://www.benzinga.com/quote/MS" target="_blank" class="ticker-link" data-ticker="MS" data-exchange="NYSE" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MS">MS</a>)</a> and a more crypto-friendly U.S. administration are supporting broader adoption.



<h3 class="wp-block-heading">Institutional Flows And Real-World Asset Integration</h3>



Hoskinso said this cycle differs from prior four-year cycles because institutional money, exchange-traded products, and tokenized real-world assets now contribute significantly to Bitcoin demand. 



He argued that previous cycles were led almost entirely by retail, while the current environment shows higher structural inflows.



<h3 class="wp-block-heading">Bitcoin Breaks Multi-Year Trendline Support</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="728" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20121527/image-504-1024x728.png" alt="" class="wp-image-1175861" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20121527/image-504-1024x728.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20121527/image-504-300x213.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20121527/image-504-768x546.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20121527/image-504-1536x1091.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20121527/image-504.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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



Bitcoin slipped to $88,000 on Thursday after losing the rising multi-year trendline that supported every major rally since 2023. 



The break is visible on both daily and weekly charts, signaling a deeper corrective phase rather than a standard pullback.



Daily structure shows price trading far below the 20-day, 50-day and 100-day EMAs, all of which slope downward.&nbsp;



The 200-day EMA at $106,822 remains well above current levels.&nbsp;



Every rebound this month stalled at the declining 20-day EMA, reflecting weaker buyer conviction.



The RSI sits near 25, signaling oversold conditions. 



However, trendline breaks paired with oversold readings often lead to prolonged resets before recovery attempts gather strength.



<h3 class="wp-block-heading">Major Support Near $75,000 Comes Into View</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="728" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20121653/BTC-Weekly-chart-1024x728.png" alt="" class="wp-image-1175863" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20121653/BTC-Weekly-chart-1024x728.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20121653/BTC-Weekly-chart-300x213.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20121653/BTC-Weekly-chart-768x546.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20121653/BTC-Weekly-chart-1536x1091.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20121653/BTC-Weekly-chart.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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



The next major support zone sits around $75,000, the midpoint of last year's consolidation and the base of the prior breakout.&nbsp;



A weekly close below the multi-year trendline increases the probability of a move toward the $80,000 to $75,000 band.



On the weekly chart, Bitcoin is sliding toward the lower Bollinger Band as volatility expands.



On-balance volume has begun to turn lower after holding firm earlier in the year, signaling distribution as sellers dominate spot flows.



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



Bitcoin is flashing a rare combination of structural breakdown and long-horizon conviction that rarely appears in the same cycle.&nbsp;



The multi-year trendline loss on the chart mirrors every major reset since 2015, yet long-term capital — from institutions to ETF issuers — continues flowing in ways that didn't exist in prior cycles.&nbsp;



When a macro voice like Hoskinson calls the next two quarters "downside clearing," it reframes the breakdown not as exhaustion but as an institutional accumulation window.&nbsp;



If that view holds, the $75,000 zone on the chart becomes less a floor and more the entry point for a 2026 trajectory that larger players already consider inevitable.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/11/48981736/viking-holdings-analysts-raise-their-forecasts-after-better-than-expected-earnings">Viking Holdings Analysts Raise Their Forecasts After Better-Than-Expected Earnings</a></li>
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Image: Shutterstock

Bitcoin Crashes To $88,000 But Cardano's Charles Hoskinson Says The Path To $250,000 Is 'Locked In'

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> is clinging to the key $2 level, but the spotlight has quickly shifted to a far more uncomfortable question: <a href="https://www.benzinga.com/money/ripple-xrp-price-prediction">is XRP massively overvalued</a>?



What Happened: Content creator DBCrypto <a href="https://x.com/DBCrypt0/status/1991223075065721155?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1991223075065721155%7Ctwgr%5E1760f7067db9bfc481481c639b80e6f9f07dae99%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fprotos.com%2Fis-xrp-overvalued-critics-flag-149-in-daily-network-revenue%2F">ignited</a> debate after highlighting a glaring disconnect between XRP's towering $127+ billion valuation and the network's shockingly low economic activity. 



Despite securing billions in value, the XRP Ledger burned only about 700 XRP in fees per day this week, less than $1,600.



This isn't a one-off anomaly. 



Over the past three months, XRP has never generated more than $5,000 in daily fees and routinely produces below $2,000. 



Data from platforms like DefiLlama reinforces the point: all XRP Ledger apps combined earned just $149–$303 in revenue over a 24-hour period.



The mismatch has critics, DBCrypto among them, questioning XRP's fundamentals and even raising concerns about whether the valuation is artificially inflated.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48971787/bitcoin-back-to-91000-as-ethereum-xrp-dogecoin-try-to-hold-key-levels">Bitcoin Back To $91,000 As Ethereum, XRP, Dogecoin Try To Hold Key Levels</a>



Why It Matters: XRP's low revenue isn't due to lack of usage but the blockchain's design: fees are intentionally tiny (often a fraction of a cent) and are burned rather than paid to validators, Protos <a href="https://protos.com/is-xrp-overvalued-critics-flag-149-in-daily-network-revenue/">reported</a>.



Unlike Bitcoin, where miners earn robust block rewards and fees, XRP's architecture inherently produces minimal protocol revenue. 



While this keeps transactions cheap, it also fuels long-standing debates about whether a network generating so little value can justify such a massive market cap.



And the timing is delicate. 



The Bitwise XRP ETF began <a href="https://x.com/BitwiseInvest/status/1991514628023533889">trading</a> on the NYSE today, giving investors direct spot exposure. 



But just ahead of the launch, analyst Ali Martinez <a href="https://x.com/ali_charts/status/1991461266842427823">reported</a> that 190 million XRP were offloaded by whales in the past 48 hours, adding another layer of uncertainty around the asset's near-term trajectory.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48933921/xrp-traders-undeterred-a-full-send-could-come-under-one-condition">XRP Traders Undeterred: A &#8216;Full Send&#8217; Could Come, Under One Condition</a></li>
</ul>



Image: Shutterstock

XRP Is Valued At $130 Billion, But Makes Only $5,000 A Day In Revenue: What Gives?

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> delivered another blockbuster quarter and raised its outlook, but even that wasn't enough to lift Wall Street on Thursday. Major indexes gave back substantial morning gains and flipped to the red by midday in New York, as a broader risk-off mood tightened its <a href="https://www.benzinga.com/markets/macro-economic-events/25/11/48960718/fed-meeting-minutes-december-interest-rate-expectations-cut-versus-hold">grip on the market.</a>



The world's largest company posted $57 billion in quarterly revenue, topping the $54.8 billion consensus, while earnings of $1.30 per share beat expectations of $1.25. 



Nvidia shares initially jumped 5% both after hours Wednesday and at Thursday's open — but the rally reversed quickly. By midday the stock was trading around $183.50, down 1.8% from Wednesday's close.



The Nasdaq 100 tumbled 1.2% to 24,350 points, while the S&amp;P 500 edged 0.7% down to 6,600. 



A hotter-than-expected U.S. jobs report likely cooled any early enthusiasm for a tech rebound, as traders now think a December rate cut is less likely to occur. 



Non-farm payrolls rose by 119,000 in September, more than double the 50,000 economists had forecast, further trimming hopes for a rate cut next month. Markets now assign a 64% probability that the Fed holds rates steady in December, according to CME FedWatch.



Walmart Inc. <a class="ticker-link" data-ticker="WMT" data-exchange="NYSE" href="https://www.benzinga.com/quote/WMT" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/WMT">WMT</a>)</a> was the standout of the session within the S&amp;P 500, surging 6% after beating earnings expectations and raising guidance, helping lift the Consumer Staples sector to the top of the leaderboard.



Other notable earnings movers included Palo Alto Networks Inc. <a class="ticker-link" data-ticker="PANW" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/PANW" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PANW">PANW</a>)</a> and Jacobs Solutions Inc. <a class="ticker-link" data-ticker="J" data-exchange="NYSE" href="https://www.benzinga.com/quote/J" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/J">J</a>)</a> down 6.4% and 9.6%, respectively. 



Tech lagged again. Chipmaker stocks — tracked by the iShares Semiconductor ETF <a href="https://www.benzinga.com/quote/SOXX" target="_blank" class="ticker-link" data-ticker="SOXX" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SOXX">SOXX</a>)</a> — dropped another 2%, deepening their month-to-date slide to 12%.



Bearish sentiment also intensified in crypto markets:



<ul class="wp-block-list">
<li>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> down over 5% to $86,800, extending its drop from last month's record highs to over 30%.</li>



<li>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> tumbled 7%</li>



<li>Shares of 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> and Coinbase Global Inc. <a class="ticker-link" data-ticker="COIN" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/COIN" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COIN">COIN</a>)</a> sunk by 5.8% and 6.4% respectively. </li>
</ul>



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



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Index</th><th>Price</th><th>%</th></tr></thead><tbody><tr><td>Dow Jones</td><td>45,907.21</td><td>-0.5%</td></tr><tr><td>Russell 2000</td><td>2,335.04</td><td>-0.5%</td></tr><tr><td>S&amp;P 500</td><td>6,596.19</td><td>-0.7%</td></tr><tr><td>Nasdaq 100</td><td>24,353.71</td><td>-1.2%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:20 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>) fell 0.6% to $605.08.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) inched 0.3% lower to $459.90.</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;fell 1.1% to $593.20.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) dropped 0.4% to $232.38.</li>



<li>The&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLP">XLP</a>) outperformed, up 0.6%; the&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLK">XLK</a>) lagged, down 1.4%.</li>
</ul>



<h2 class="wp-block-heading">Russell 1000&#8217;s Top 5 Gainers On Thursday</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock Name</th><th>% Change</th></tr></thead><tbody><tr><td>Exact Sciences Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/EXAS">EXAS</a>)</td><td>+17.34%</td></tr><tr><td>Walmart Inc. </td><td>+5.69%</td></tr><tr><td>Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/REGN">REGN</a>)</td><td>+5.43%</td></tr><tr><td>Solventum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SOLV">SOLV</a>)</td><td>+4.65%</td></tr><tr><td>Axalta Coating Systems Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AXTA">AXTA</a>)</td><td>+4.05%</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Russell 1000&#8217;s Top 5 Laggards On Thursday</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock Name </th><th>% Change</th></tr></thead><tbody><tr><td>Bath &amp; Body Works Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BBWI">BBWI</a>)</td><td>-25.12%</td></tr><tr><td>SanDisk Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SNDK">SNDK</a>)</td><td>-14.93%</td></tr><tr><td>Jacobs Solutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/J">J</a>)</td><td>-8.93%</td></tr><tr><td>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MU">MU</a>)</td><td>-8.37%</td></tr><tr><td>Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>)</td><td>-7.89%</td></tr></tbody></table></figure>



Now Read: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/earnings/25/11/48973441/walmart-q3-earnings-high-middle-income-consumers-benefit-inflation-in-1-range-raises-outlook">Walmart Q3 Earnings: High &amp; Middle Income Consumers Benefit, Inflation In 1% Range, Raises Outlook</a></li>
</ul>



Image: Shutterstock

Tech Stocks Fall Despite Nvidia's Beat, Walmart Jumps 6%: What's Moving Markets Thursday?

Fartcoin's <a class="ticker-link" data-ticker="FART" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/FART-USD" target="_blank" rel="noopener">(CRYPTO: FARTCOIN)</a> breakout from a months-long downtrend may be the start of a 466% rally, if technical analysis <a href="https://www.benzinga.com/money/fartcoin-price-prediction">confirms the breakout</a>.



<h3 class="wp-block-heading">Breakout Follows Weeks Of Tight Compression</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="718" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20111438/FARTCOIN-20TH-NOV-1024x718.png" alt="" class="wp-image-1175728" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20111438/FARTCOIN-20TH-NOV-1024x718.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20111438/FARTCOIN-20TH-NOV-300x210.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20111438/FARTCOIN-20TH-NOV-768x538.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20111438/FARTCOIN-20TH-NOV-1536x1076.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20111438/FARTCOIN-20TH-NOV.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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



Fartcoin spent most of November compressing inside a falling wedge, with volatility falling sharply as Bollinger Bands narrowed toward levels that often precede strong moves.&nbsp;



Buyers repeatedly defended the lower boundary earlier this month, preventing a breakdown and laying the base for reversal.



The latest move pushed price above the inner trendline for the first time since October.&nbsp;



The daily candle reclaimed the mid-Bollinger band and tapped the upper band in the same session, showing a clear shift in momentum.&nbsp;



Parabolic SAR flipped bullish at $0.456 after weeks of pressure.



<h3 class="wp-block-heading">Lower Timeframes Confirm Shift In Structure</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="728" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20111359/image-500-1024x728.png" alt="" class="wp-image-1175725" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20111359/image-500-1024x728.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20111359/image-500-300x213.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20111359/image-500-768x546.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20111359/image-500-1536x1091.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/20111359/image-500.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/FARTCOINUSD/">Fartcoin Short-Term Price Analysis (Source: TradingView)</a>



On the 30-minute chart, Fartcoin broke through a multi-day accumulation zone between $0.23 and $0.26.&nbsp;



Sellers expected continuation, but buyers forced a breakout through $0.28 with a vertical move.&nbsp;



The Supertrend indicator flipped bullish at $0.2897, and higher lows now hold across the intraday structure.



RSI cooled from 72 to the mid-50s, giving price room to extend without overheating.



<h3 class="wp-block-heading">Whale Buying And Flow Data Show Strong Positioning</h3>



As per a <a href="https://x.com/StalkHQ/status/1991458823844835527?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1991458823844835527%7Ctwgr%5Ed1a87b6050c49157f92fba026a202bdf8bc54fb5%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Feditorial.benzinga.com%2Fwp-admin%2Fpost.php%3Faction%3Deditpost%3D1175644">post</a> on X, a new wallet absorbed $272,000 worth of Fartcoin shortly after receiving $253,000 from a HyperUnit hot wallet.&nbsp;



Net inflows jumped to $219,580 for the day, the highest spike in 14 days.



Liquidity near $11 million allowed a buy of that size to move price only 5%, signaling depth in the order book and significant room for additional price discovery as demand returns.



The flow pattern suggests structured positioning rather than retail-driven volatility.&nbsp;



Fresh capital entering immediately after consolidation has historically been an early sign of sustained trend formation, as seen in several altcoins



<h3 class="wp-block-heading">Measured Move Points Toward Major Extension</h3>



The daily wedge structure is almost textbook.&nbsp;



Months of lower highs converge toward an apex projected for early December, but price has already broken above the upper boundary — behavior often linked to early accumulation by larger holders.



If Fartcoin sustains above $0.30, the measured move points toward $0.60, then $0.80, and ultimately the full extension target near $1.70.&nbsp;



That aligns with the projected 466% upside from the breakout origin.



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



Fartcoin has spent most of 2025 overshadowed by Dogecoin <a href="https://www.benzinga.com/quote/DOGE-USD" target="_blank" class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a> and Shiba Inu <a href="https://www.benzinga.com/quote/SHIB-USD" target="_blank" class="ticker-link" data-ticker="SHIB" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</a>, which captured the majority of meme-sector liquidity.&nbsp;



But the latest data shows a clear change in tone: inflows rising, derivatives cooling, and liquidity deep enough to absorb large buys without slippage.



Those are early signs of a market preparing for expansion rather than exhaustion.



If momentum holds, Fartcoin could shift from a sidelined meme token to a frontrunner in the next rotation.



Read Next: 



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<li><a href="https://www.benzinga.com/Opinion/25/11/48977983/how-to-trade-spy-top-tech-stocks-using-technical-analysis-63">How To Trade SPY, Top Tech Stocks Using Technical Analysis</a></li>
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Image: Shutterstock

Fartcoin Outshines Dogecoin, Shiba Inu And Targets 466% Rebound

Shiba Inu <a class="ticker-link" data-ticker="SHIB" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/SHIB-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</a> has posted a massive surge in burn activity alongside fresh ecosystem updates, hinting at rising network engagement despite <a href="https://www.benzinga.com/money/shiba-inu-price-prediction">broader market weakness</a>.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td><td>Market Cap</td><td>7-Day Trend</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.058733</td><td>$5.14 billion</td><td>-10.5%</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1580</td><td>$23.9 billion</td><td>-9.5%</td></tr><tr><td>Pepe</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td><td>$0.054899</td><td>$2.06 billion</td><td>-16.6%</td></tr></tbody></table></figure>



Trader Notes: Full-time trader Timmi Arno <a href="https://x.com/timmi_arno/status/1991430447478546832">noted</a> SHIB has broken down from its recent sideways range and tapped a major high-volume support zone. 



He sees a short-term long setup forming with potential ~15% upside, where he plans to take profits, though a stronger continuation remains possible if momentum expands.



Statistics: Shibburn data shows burn rate spiked 23,864.4% over the past 24 hours as 16.7 million SHIB were removed from the ecosystem. A single transaction around an hour ago involved the burning of 14.4 million SHIB.



Shibarium data shows daily transactions moved higher from 1,850 to 2,720 in a single day, while new contracts jumped from 4 to 16.



The sharp rise in burns and contract deployment points to growing throughput and renewed builder activity on the Shibarium network.



Community News: Shiba Inu <a href="https://x.com/Shibtoken/status/1991117805752573999">unveiled</a> its custom Bitget Wallet SHIB Card, enabling users to spend crypto seamlessly. To celebrate the launch, SHIB rewards and incentives are rolling out:



<ul class="wp-block-list">
<li>Zero fees on spending and card activation from Nov. 19–26</li>



<li>Additional rewards for early adopters</li>
</ul>



This puts Shiba Inu in line with other major crypto ecosystems offering branded cards, including XRP (Gemini), Cardano (Wirex) and Solana (Gemini).



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48921459/dogecoin-etf-to-launch-in-a-week-as-shiba-inu-burn-rate-explodes-to-1090">Dogecoin ETF To Launch In A Week As Shiba Inu Burn Rate Explodes To 1,090%</a></li>
</ul>



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