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



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



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



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



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



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



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



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



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



Top Gainers (24 Hours)&nbsp;



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



Photo courtesy: Shutterstock

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

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



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



Notable Statistics:



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



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



Notable Developments:



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



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



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



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



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



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



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



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



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



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



Read Next:



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



Image: Shutterstock

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

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



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



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



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



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



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



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



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



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



Read Next:



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

Cathie Wood's New Bitcoin Target: 'Only' $1.2 Million By 2030—And Stablecoins Are To 'Blame'

Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COIN">COIN</a>) has challenged U.S. Treasury plans for a blanket ban on stablecoin yield, citing overreach under <a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48141079/trumps-genius-act-has-changed-global-monetary-system-says-economist-stablecoins-will-usher-in-hyperinflation">the GENIUS Act</a>.



<h3 class="wp-block-heading">Coinbase Argues Treasury Exceeds Its Mandate</h3>



In a Tuesday letter, Coinbase <a href="https://cointelegraph.com/news/coinbase-urges-treasury-preserve-stablecoin-yields-non-issuers">urged</a> the Treasury to restrict the yield ban only to stablecoin issuers.



The exchange said extending the rule to non-issuers would violate Congress's intent.



"Congress went no further," Coinbase wrote, warning that broader restrictions would hurt innovation and stablecoin adoption.



The company argued that the GENIUS Act's text does not give Treasury power to prohibit interest offered by exchanges or affiliates.



It said Treasury "has no authority to second-guess Congress's work."



<h3 class="wp-block-heading">Banking Groups Want Blanket Prohibition</h3>



Major banking associations led by the Bank Policy Institute (BPI) asked Treasury to apply the ban to all stablecoin entities.



Their joint filing said interest on stablecoins could drain as much as $6.6 trillion from traditional deposits.



They urged Treasury to "implement the prohibition whether paid directly by an issuer or indirectly by affiliates."



BPI's latest comments came during the second round of public feedback on Treasury's proposed GENIUS Act rules.



The consultation closed Tuesday, setting the stage for formal rule drafting in 2026.



<h3 class="wp-block-heading">Industry Split Over GENIUS Act Scope</h3>



Signed into law in July, the GENIUS Act regulates payment stablecoins in the United States.



It takes effect 18 months after enactment or 120 days after regulators issue final rules.



That timeline suggests implementation by late 2026 or early 2027.



Coinbase also asked Treasury to exempt blockchain validators, software developers, and open-source protocols from the law.



It urged that payment stablecoins be treated as cash equivalents for tax and accounting purposes.



The debate underscores widening tension between traditional banks and digital asset platforms over control of U.S. payments infrastructure.



Read Next: 



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



Image: Shutterstock

Coinbase  Says Treasury 'Has No Authority'—What's The Bone Of Contention?

Amplify ETFs, the issuer known for <a href="https://www.benzinga.com/etfs">thematic and income-driven fund products</a>, has just launched the Amplify Solana 3% Monthly Option Income ETF (BATS:<a class="ticker" href="https://www.benzinga.com/quote/SOLM">SOLM</a>), a first-of-its-kind product combining the growth momentum in Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) with steady income. 



The ETF targets an ambitious 36% annual option premium income by deploying a short-term covered call strategy on Solana exposure, at an expense ratio of 0.75%.



 • See how SOLM is doing <a href="https://www.benzinga.com/quote/SOLM" target="_blank" rel="noreferrer noopener">here.</a>



The fund joins Amplify&#8217;s YieldSmart suite of actively managed income ETFs, but SOLM&#8217;s crypto foundation makes it stand apart. Where Bitcoin ETFs are largely tied to price appreciation or futures roll yields, SOLM aims to generate consistent cash flow while still participating in Solana&#8217;s upside.



Also Read : <a href="https://www.benzinga.com/etfs/new-etfs/25/11/48668733/graniteshares-bets-on-mara-and-ionq-with-new-income-boosting-etfs">GraniteShares Bets On MARA And IONQ With New Income-Boosting ETFs</a>



<h2 class="wp-block-heading">From Staking to Options: Solana&#8217;s New Income Play</h2>



In fact, SOLM writes weekly out-of-the-money covered calls on 30%–60% of its Solana holdings. This enables investors to capture 5%–10% of the appreciation every week while taking in premium income that, importantly, equates to around 3% per month. The rest of the portfolio remains long-only to preserve unlimited upside if Solana continues its rally.



According to Amplify CEO Christian Magoon, the fund is designed to "outperform traditional Solana staking income" by utilizing weekly options instead of monthly ones, giving it four times more chances to reset strike prices and compound gains.



This launch comes amid a rise in institutional interest in Solana, which has gained momentum as one of the fastest and most cost-efficient blockchains. Thousands of decentralized apps now run on the ecosystem, from DeFi to tokenized real-world assets.



While Bitcoin ETFs have dominated 2024 inflows, Solana&#8217;s surging transaction volume and developer activity have vaulted it to the top of &#8220;next-gen&#8221; blockchain contender lists. Amplify&#8217;s SOLM could be the bridge that connects the crypto income crowd with mainstream ETF investors looking for yield without sacrificing growth.



Read Next:<a href="https://www.benzinga.com/etfs/new-etfs/25/11/48693201/gladius-wayfinder-etf-hedge-fund-power"> </a>



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/new-etfs/25/11/48693201/gladius-wayfinder-etf-hedge-fund-power">Want Hedge Fund Power Without The Price Tag? Gladius&#8217;s Wayfinder ETF Delivers</a></li>
</ul>



Photo: Shutterstock

Can Solana Do What Bitcoin Can't? Amplify's New ETF Aims For 36% Income

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) fell almost 5% on Thursday, with price sliding below 16 cents amid <a href="https://www.benzinga.com/money/dogecoin-doge-price-prediction">heavy selling pressure</a>.



<h3 class="wp-block-heading">Trendline Resistance Keeps Price Capped</h3>



<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06120604/image-121-1024x485.png" alt="" class="wp-image-1152164"/></figure>



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



Dogecoin continues to respect the descending trendline from the October high.



Every bounce toward the 20-, 50-, and 100-day EMAs has failed, confirming sellers remain in control.



The token sits inside a broad correction structure with no successful defense of key supports.



Each attempt to reclaim the 20-day EMA has triggered fresh selling.



That pattern reinforces a clear sequence of lower highs and lower lows.



<h3 class="wp-block-heading">Key Support Near $0.15 Faces Pressure</h3>



Dogecoin has returned to its critical demand zone between $0.15–$0.155, previously identified as a weak low.



Losing this level could expose the next liquidity pocket around $0.14.



A close below that area would signal acceleration toward deeper downside targets.



The structure will only change if price breaks the descending trendline and closes above $0.186–$0.200.



That zone aligns with the 100-day EMA and prior supply cluster from late September.



<h3 class="wp-block-heading">Flows And Derivatives Confirm Weakness</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="258" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06120646/doge-nf-bz-6th-nov-1024x258.png" alt="" class="wp-image-1152168" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06120646/doge-nf-bz-6th-nov-1024x258.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06120646/doge-nf-bz-6th-nov-300x75.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06120646/doge-nf-bz-6th-nov-768x193.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06120646/doge-nf-bz-6th-nov-1536x386.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06120646/doge-nf-bz-6th-nov.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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



Spot flow data shows persistent outflows, with about $7.1 million leaving exchanges on Nov. 6.



Such outflows during a downtrend usually signal distribution rather than accumulation.



That suggests holders are exiting rather than positioning for a rebound.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="485" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06120604/image-121-1024x485.png" alt="" class="wp-image-1152165" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06120604/image-121-1024x485.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06120604/image-121-300x142.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06120604/image-121-768x364.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06120604/image-121-1536x728.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06120604/image-121.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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



Open interest in futures fell about 4%, showing traders cutting exposure instead of adding risk.



Long/short ratios appear skewed toward longs, but the price reaction proves those positions lack strength.



Derivatives volume dropped over 60%, highlighting fading speculation and investor caution.



Read Next: 



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



Image: Shutterstock

Dogecoin Down 5% To 16 Cents As Sellers Crush Every Bounce

After a brief and cautious rebound on Wednesday, risk-off sentiment returned sharply on Thursday, with AI-linked stocks leading a broad selloff across Wall Street and renewed <a href="https://www.benzinga.com/crypto">pressure hitting crypto markets.</a>



Investors grappled with mixed corporate earnings and fresh concerns over the labor market after a private report showed a<a href="https://www.benzinga.com/markets/macro-economic-events/25/11/48691213/americas-layoff-crisis-deepens-as-ai-quietly-replaces-workers"> spike in layoffs last month. </a>Despite clear signs of a cooling job market, comments from Federal Reserve officials dampened hopes for further rate cuts. 



Chicago Fed President Austan Goolsbee said he remains hesitant to continue the easing cycle, while Cleveland Fed President Beth Hammack echoed that it's "not obvious" the Fed should cut again given the current inflation backdrop.



The S&amp;P 500 fell 1%, the Nasdaq 100 dropped 1.8%, and the Dow Jones Industrial Average lost 0.9%. All major sectors traded lower except energy.



In earnings news, Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>) plunged nearly 10%, on track for its worst day since April, despite beating Wall Street expectations last quarter. The move extends a recent trend of strong results sparking weak price reactions among high-flying stocks such as Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PLTR">PLTR</a>) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMD">AMD</a>). Palantir slumped for a third straight session and is now down roughly 15% since Monday's close.



QUALCOMM Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QCOM">QCOM</a>) also topped estimates but slid about 5% after management guided for slightly weaker licensing revenue ahead. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>) dropped 3% after CEO Jensen Huang warned that the U.S. risks falling behind China in the AI race.



In crypto markets, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1.7% to around $101,000, resuming its decline after a short-lived pause. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) dropped 4%.



<h2 class="wp-block-heading">Thursday&#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>Dow Jones</td><td>46,887.79</td><td>-0.9%</td></tr><tr><td>S&amp;P 500</td><td>6,725.24</td><td>-1.0%</td></tr><tr><td>Nasdaq 100</td><td>25,155.47</td><td>-1.8%</td></tr><tr><td>Russell 2000</td><td>2,419.30</td><td>-1.8%</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 1.1% to $615.85.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) fell 1% to $468.69.</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;dropped 1.8% to $611.88.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) sunk 1.8% to $240.41.</li>



<li>The&nbsp;Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLE">XLE</a>) outperformed, up 1%; the&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLY">XLY</a>) lagged, down 2.6%.</li>
</ul>



<h2 class="wp-block-heading">Thursday&#8217;s Earnings Movers</h2>



<ul class="wp-block-list">
<li>Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>) </li>



<li>QUALCOMM Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QCOM">QCOM</a>)</li>



<li>IonQ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IONQ">IONQ</a>) down 1.2%</li>



<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ARM">ARM</a>) down 2.6%</li>



<li>AppLovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/APP">APP</a>) up 1.8%</li>



<li>Duolingo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DUOL">DUOL</a>) down 26.9%</li>



<li>Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/FTNT">FTNT</a>) down 7.2%</li>



<li>e.l.f. Beauty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ELF">ELF</a>) down 34.5%</li>



<li>Joby Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/JOBY">JOBY</a>) down 4.5%</li>



<li>Eos Energy Enterprises Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/EOSE">EOSE</a>) up 1.2%</li>



<li>DoorDash Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DASH">DASH</a>) down 15.4%</li>



<li>Lyft Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/LYFT">LYFT</a>) up 7.1%</li>



<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SNAP">SNAP</a>) up 10.2%</li>



<li>Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/LCID">LCID</a>) up 0.3%</li>



<li>FIGS Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FIG">FIG</a>) down 0.9%</li>



<li>Fair Isaac Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FICO">FICO</a>) up 6.5%</li>



<li>Centrus Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/LEU">LEU</a>) down 14.5%</li>



<li>Dutch Bros Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BROS">BROS</a>) down 3.0%</li>



<li>The Honest Company Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HNST">HNST</a>) down 23.5%</li>



<li>HubSpot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HUBS">HUBS</a>) down 17.8%</li>



<li>Redwire Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/RDW">RDW</a>) down 15.6%</li>



<li>Sezzle Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SEZL">SEZL</a>) down 6.4%</li>



<li>AMC Entertainment Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AMC">AMC</a>) up 2.6%</li>



<li>Root Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ROOT">ROOT</a>) down 11.9%</li>



<li>Enovix Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ENVX">ENVX</a>) down 23.1%</li>



<li>Energy Transfer LP (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ET">ET</a>) down 0.2%</li>



<li>Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ALB">ALB</a>) down 0.3%</li>



<li>Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COHR">COHR</a>) up 14.9%</li>



<li>Talen Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TLN">TLN</a>) down 4.9%</li>



<li>Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DVN">DVN</a>) flat (down 0.02%)</li>



<li>Paycom Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PAYC">PAYC</a>) down 12.4%</li>



<li>American Superconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMSC">AMSC</a>) down 35.0%</li>



<li>Celsius Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CELH">CELH</a>) down 26.5%</li>



<li>D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/QBTS">QBTS</a>) down 7.5%</li>



<li>Oscar Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/OSCR">OSCR</a>) up 2.3%</li>



<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VST">VST</a>) down 3.7%</li>



<li>Datadog Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DDOG">DDOG</a>) up 19.3%</li>



<li>Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MRNA">MRNA</a>) up 2.4%</li>



<li>Warner Bros. Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/WBD">WBD</a>) up 0.5%</li>



<li>Shift4 Payments Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FOUR">FOUR</a>) up 2.9%</li>



<li>Under Armour Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/UA">UA</a>) down 3.1%</li>



<li>CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CYBR">CYBR</a>) down 2.5%</li>



<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COP">COP</a>) down 1.4%</li>



<li>NRG Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NRG">NRG</a>) down 3.9%</li>



<li>Jumia Technologies AG (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/JMIA">JMIA</a>) down 7.3%</li>



<li>AstraZeneca plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AZN">AZN</a>) up 3.6%</li>



<li>Smith &amp; Nephew plc (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SN">SN</a>) up 7.7%</li>



<li>Novavax Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVAX">NVAX</a>) up 0.1%</li>



<li>YETI Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/YETI">YETI</a>) up 4.1%</li>



<li>DuPont de Nemours Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DD">DD</a>) down 1.6%</li>



<li>Aspen Aerogels Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ASPN">ASPN</a>) down 42.7%</li>
</ul>



Stocks slated to report earnings after the close include SoundHound AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SOUN">SOUN</a>), Airbnb Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABNB">ABNB</a>), The Trade Desk Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TTD">TTD</a>), Iris Energy Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/IREN">IREN</a>), Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ACHR">ACHR</a>), NuScale Power Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SMR">SMR</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DKNG">DKNG</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/OPEN">OPEN</a>), Affirm Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AFRM">AFRM</a>), XYZ Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XYZ">XYZ</a>), MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MP">MP</a>), Take-Two Interactive Software Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TTWO">TTWO</a>), Monster Beverage Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MNST">MNST</a>), Innodata Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INOD">INOD</a>), U.S. Rare Earths Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/USAR">USAR</a>), Peloton Interactive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PTON">PTON</a>), Main Street Capital Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MAIN">MAIN</a>), Texas Roadhouse Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TXRH">TXRH</a>), AbCellera Biologics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABCL">ABCL</a>), Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/RUN">RUN</a>), Wynn Resorts Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/WYNN">WYNN</a>), Microchip Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MCHP">MCHP</a>), Amprius Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AMPX">AMPX</a>), Dropbox Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DBX">DBX</a>), StoneCo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/STNE">STNE</a>), indie Semiconductor Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INDI">INDI</a>), Sweetgreen Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SG">SG</a>), Bill Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BILL">BILL</a>), Doximity Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DOCS">DOCS</a>), and GigaCloud Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GCT">GCT</a>).



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AI Stocks Slide Again, Bitcoin Dips Near $100,000: What's Moving Markets Thursday?

Crypto analyst Trader Mayne remains bullish on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), arguing that the recent pullback is part of a larger consolidation before the final leg <a href="https://www.benzinga.com/money/bitcoin-price-prediction-oct-14#:~:text=In%202025%2C%20Bitcoin's%20price%20is,ETF%20inflows%20and%20macroeconomic%20trends.">higher in this cycle</a>.



What Happened: Mayne's thesis <a href="https://www.youtube.com/watch?v=1L1e6P7HdmM&amp;t=67s">builds</a> on several core factors:



<ul class="wp-block-list">
<li>Four-Year Cycle Theory: Following Bob Lucas' framework, Mayne expects the next cycle top between late 2025 and early 2026, aligning with prior four-year cycle peaks.</li>



<li>Bitcoin–Gold Ratio: Since gold typically leads Bitcoin by 60–90 days, gold's recent strength suggests Bitcoin's next major move is imminent.</li>



<li>Absence of a Blowoff Top: Unlike gold and tech stocks, Bitcoin hasn't yet shown a parabolic surge, implying the current cycle's euphoria phase is still ahead.</li>



<li>Timing Indicators: He expects a weekly cycle low to form soon, confirmed by a strong green candle and a hold above $98,000. Mayne predicts November's low could come early in the month, setting up for a year-end rally.</li>



<li>Political Tailwinds: A potential end to the U.S. government shutdown and Trump's pro-market stance could serve as catalysts for renewed risk appetite..</li>
</ul>



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48682000/bitcoin-ethereum-xrp-dogecoin-rally-2-despite-over-250m-in-etf-outflows">Bitcoin, Ethereum, XRP, Dogecoin Rally 2% Despite Over $250M In ETF Outflows</a>



Why It Matters: While optimistic, Mayne warns of bearish risks: potential institutional distribution, RSI divergences, and a stronger U.S. dollar, all of which could cap upside momentum.



He expects 2026 to be a corrective year but projects a 40–50% decline (to the $50,000–$70,000 range) rather than a full-blown 80% crash, given rising institutional support and ETF adoption.



"The plan is simple: defined entries, exits, and invalidation levels," he said, stressing that market structure remains intact until Bitcoin loses key long-term supports.



Read Next:



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Bitcoin Likely Has 'One More Leg Higher' Before 2026 Bear Market, Trader Says

Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSTR">MSTR</a>) faces rising costs to maintain its massive Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) treasury, with annual obligations now topping $689 million, according to <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48693117/jpmorgan-says-bitcoin-has-67-upside-sees-170000-within-next-6-months">a new report</a>.



<h3 class="wp-block-heading">Company's Bitcoin Treasury Comes With Heavy Burden</h3>



Strategy Inc., formerly MicroStrategy, holds about $66 billion in bitcoin and plans to never sell its holdings.



That goal, however, comes with large yearly cash commitments for debt coupons, preferred dividends, and operating costs.



According to Protos, Strategy <a href="https://protos.com/strategy-needs-to-pay-689m-a-year-to-not-sell-bitcoin/">reported</a> annualized dividend and interest expenses of $689 million as of Oct. 24, a figure expected to grow.



Executive chairman Michael Saylor has pledged continued Bitcoin accumulation, but new acquisitions add more preferred dividend obligations each quarter.



The company's own forecast suggests these costs will reach several billion dollars over time.



<h3 class="wp-block-heading">Dependence On Equity Sales For Funding</h3>



Strategy generates limited income from its core business, reporting less than $355 million in revenue during the first nine months of 2025.



Most of its $12 billion in operating income came from unrealized bitcoin appreciation rather than core operations.



To cover expenses, Strategy relies heavily on selling new equity — both MSTR common stock and preferred shares.



Preferred stock offerings under tickers STRK, STRF, STRD, STRC, and STRE fund bitcoin purchases without immediate dilution.



Yet each new preferred issue increases dividend commitments that must be paid in cash.



Saylor has said the firm prefers equity to new debt because bonds require fixed coupon and principal payments.



<h3 class="wp-block-heading">Shareholders Pay Premium To Hold Strategy</h3>



Investors continue to buy MSTR shares at a notable premium to the firm's net Bitcoin value.



This premium, called the mNAV multiple, reflects investor belief that Saylor can increase Bitcoin holdings per share.



Currently, investors pay about 1.07x mNAV per share — or 7% above Strategy's direct Bitcoin exposure.



Lawyers for the company have clarified that owning MSTR stock does not confer any legal claim over its Bitcoin reserves.



Even so, investors value the shares higher on faith in management's ability to keep growing holdings.



<h3 class="wp-block-heading">Technical Picture Turns Bearish</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06095155/image-120-1024x694.png" alt="" class="wp-image-1151896" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06095155/image-120-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06095155/image-120-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06095155/image-120-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06095155/image-120-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06095155/image-120.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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



MSTR stock price has broken below its long-term ascending support line that held since early 2024.



The price now sits under all key exponential moving averages, creating a heavy resistance band between $283–$331.



Immediate support lies between $250–$235; failure to defend that range risks a deeper move toward $210–$195.



A daily close above $283 would invalidate the breakdown and restore bullish structure.



Until then, momentum remains with sellers as the chart trends lower alongside broader crypto weakness.



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Michael Saylor's Bitcoin Plan Has A Cost — Strategy Must Pay $689M Just To HODL

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could <a href="https://www.benzinga.com/money/bitcoin-price-prediction-oct-14">rise to $170,000</a> within 6 to 12 months, according to JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/JPM">JPM</a>) analysts.



<h3 class="wp-block-heading">Analysts Say Deleveraging Phase Is Over</h3>



In a note <a href="https://www.theblock.co/post/377891/jpmorgan-bitcoin-price-170000-next-6-12-months?utm_source=twitter&amp;utm_medium=social">released</a> Wednesday, JPMorgan said the crypto market has corrected about 20% from recent highs, with the Oct. 10 liquidation resetting leverage: "The deleveraging in perpetual futures now appears largely over," the report notes.



The ratio of open interest in Bitcoin perpetual futures to market capitalization has normalized, noting that Ethereum futures showed similar but less severe trends.



The team pointed out that ETF redemptions in recent weeks were modest compared to strong inflows earlier in October.



The analysts added that concerns around the $120 million Balancer exploit briefly weighed on sentiment but did not cause lasting structural stress.



Bitcoin's recovery from that sell-off supports their view that leverage-driven weakness has subsided.



<h3 class="wp-block-heading">Gold Comparison Supports Higher Price Target</h3>



JPMorgan bases its $170,000 target on Bitcoin's relative volatility to gold: The Bitcoin-to-gold volatility ratio has dropped below 2.0, showing bitcoin now consumes 1.8 times more risk capital than gold.



To match private-sector gold investment of about $6.2 trillion, Bitcoin's $2.1 trillion market cap must rise about 67%, the bank said.



That implies a "mechanical" fair value of around $170,000 per coin.



<h3 class="wp-block-heading">Outlook Suggests Renewed Institutional Interest</h3>



The bank said the correction improved bitcoin's long-term setup, with volatility-adjusted returns looking more favorable.



"Bitcoin appears undervalued relative to gold," the report states.



Bitcoin last traded near $103,000, up about 0.2% in the past 24 hours, according to market data.



The analysts maintained their view that the next six months could mark a strong recovery phase for the cryptocurrency market.



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JPMorgan Says Bitcoin Has '67% Upside,' Sees $170,000 Within Next 6 Months

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has fallen 12% as the S&amp;P 500 remained flat, breaking a long-standing correlation between <a href="https://www.benzinga.com/money/bitcoin-price-prediction-oct-14">the two risk assets.</a>



What Happened: On-chain analytics provider Santiment shows <a href="https://x.com/santimentfeed/status/1985790552646799421">data</a> that Bitcoin dropped 12.2% over the past week compared to a 1.6% drop for equities.



Historically, Bitcoin has moved in tandem with equities as global risk sentiment fluctuates. The current underperformance, despite similar macro pressures, points to disproportionate selling in crypto relative to traditional markets.



With stocks and gold holding steady, analysts believe Bitcoin's deeper decline could set up a "rubber-band" rebound once selling pressure subsides. If the S&amp;P 500 resumes its climb, Bitcoin's steeper pullback could offer greater upside potential during the next risk-on phase.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48682000/bitcoin-ethereum-xrp-dogecoin-rally-2-despite-over-250m-in-etf-outflows">Bitcoin, Ethereum, XRP, Dogecoin Rally 2% Despite Over $250M In ETF Outflows</a>



What's Next: Santiment noted that monetary and geopolitical factors have affected both markets equally, making this divergence even more striking. Historically, similar decoupling's have preceded relief rallies in crypto once broader market sentiment improves.



A <a href="https://x.com/santimentfeed/status/1986251195174826398">poll</a> found 46.5% of traders still expect Bitcoin to break its all-time high ($125,800) by year-end, while 37.6% remain skeptical. Analysts cautioned that markets often move opposite the crowd's expectations, implying a potential upside surprise if bearish sentiment persists.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48666356/trader-who-lost-45-million-on-bitcoin-ethereum-solana-longs-now-turns-bearish">Trader Who Lost $45 Million On Bitcoin, Ethereum, Solana Longs Now Turns Bearish</a></li>
</ul>



Image: Shutterstock

Bitcoin Drops As The S&P500 Stays Flat: What's Behind The Divergence?

Fundstrat's Tom Lee has warned that tightening market liquidity and <a href="https://www.benzinga.com/money/bitcoin-price-prediction-oct-14">risk headwinds</a> continue to weigh on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and other cryptocurrencies.



<h3 class="wp-block-heading">Liquidity Headwinds Drag On Bitcoin</h3>



Speaking on CNBC on Wednesday, Lee said Bitcoin remains &#8220;highly sensitive to liquidity conditions&#8221; and broader market risk sentiment. 



He pointed to a mix of macro headwinds — from the U.S. government shutdown to a hawkish Federal Reserve stance — as catalysts weighing on digital assets.



"The Treasury general account has been building cash," Lee explained.&nbsp;



"That created a cascade of problems that put pressure on crypto." He added that liquidity stress is a leading factor for Bitcoin's volatility, <a href="https://decrypt.co/347558/bitcoin-could-bounce-headwinds-can-turn-into-tailwinds-tom-lee">noting</a> that as funding pressures ease, "headwinds can turn into tailwinds."



<h3 class="wp-block-heading">Technical Breakdown Confirms Seller Control</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06082748/image-111-1024x694.png" alt="" class="wp-image-1151687" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06082748/image-111-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06082748/image-111-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06082748/image-111-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06082748/image-111-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06082748/image-111.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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



Bitcoin lost its ascending trendline that supported the entire rally from May, breaking below multiple moving averages.&nbsp;



The 20-, 50-, and 100-day EMAs now sit overhead between $108,700–$111,700, forming a strong resistance cluster.



The daily candle also shows a clean move into the $100,000–$98,000 demand zone, an area that previously triggered aggressive rebounds.&nbsp;



If price fails to hold this level, the next major high-volume support sits between $94,000–$92,500, where prior accumulation occurred during the summer rally.



<h3 class="wp-block-heading">Lee Expects Deleveraging To Take Weeks</h3>



Lee <a href="https://youtu.be/0ZfBq_gc1Vk">compared</a> the current drawdown to the major deleveraging episodes in 2020 and 2022, when the COVID shock and FTX collapse triggered widespread liquidations.&nbsp;



He said the Oct.10 deleveraging event was "the biggest in history," and that ripple effects are still being felt.



"The good news is there aren't a lot of bodies floating to the surface," Lee noted.&nbsp;



"It doesn't feel systematic, but it's going to take some time for confidence to come back."&nbsp;



He expects the crypto market to stabilize gradually as selling pressure eases and confidence rebuilds over the coming weeks.



<h3 class="wp-block-heading">Equity Correlation And Investor Sentiment</h3>



Lee also linked the weakness in digital assets to profit-taking in equities, particularly the Nasdaq 100, which has rallied for six consecutive months.&nbsp;



He suggested that both crypto and high-growth stocks are experiencing short-term fatigue after extended gains.



Still, Lee remains constructive on longer-term prospects, citing historical data showing markets that rise six months in a row typically post another 3% average gain in the following month.&nbsp;



"It's actually a good sign we've been up for six months straight," he said.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/Opinion/25/11/48684167/supreme-court-could-blow-up-your-60-40-portfolio-by-december-heres-how-to-hedge">Supreme Court Could Blow Up Your 60/40 Portfolio By December — Here&#8217;s How To Hedge</a></li>
</ul>



Image: Shutterstock

Tom Lee Says Bitcoin Is 'Highly Sensitive To Liquidity' — $94,000 May Be Next

Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) drop to <a href="https://www.benzinga.com/money/bitcoin-price-prediction-oct-14">the $100,000 mark</a> signals fading demand and steady long-term holder (LTH) selling, according to a new report.



What Happened: The market <a href="https://x.com/glassnode/status/1986137759828857255">remains</a> oversold but not capitulated, with defensive risk sentiment across spot, ETF, and derivatives markets, Glassnode reports



Bitcoin has failed to reclaim the Short-Term Holders' (STH) cost basis (~$112,500) — a sign that bullish momentum has weakened.



The next key structural support sits near $88,500, corresponding to the active investors' realized price. Roughly 71% of supply remains in profit, keeping BTC near the lower end of the mid-cycle equilibrium (70–90%).



Notably, long-term holders have sold over 300,000 BTC since July 2025, shifting from "selling into strength" to "selling into weakness."



Overall, around 2.4 million BTC (~12% of total supply) has been spent by LTHs, with only partial offsets from new coin maturations, reflecting growing fatigue among seasoned investors.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48682000/bitcoin-ethereum-xrp-dogecoin-rally-2-despite-over-250m-in-etf-outflows">Bitcoin, Ethereum, XRP, Dogecoin Rally 2% Despite Over $250M In ETF Outflows</a>



Why It Matters: U.S. spot Bitcoin ETFs have flipped to steady outflows between –$150 million and –$700 million daily, erasing months of inflow momentum from September–October and indicating waning institutional participation.



<ul class="wp-block-list">
<li>CVD (Cumulative Volume Delta) remains negative (–800 to –900 BTC), underscoring continued net selling and weak buy-side aggression.</li>



<li>Perpetual funding rates dropped from $338 million/month to $118 million, showing traders deleveraging and turning risk averse.</li>
</ul>



Overall, Bitcoin's market structure is fragile but orderly — distribution without panic. The current phase reflects controlled revaluation amid weak institutional demand, not a full-blown capitulation.



Until ETF inflows and spot demand recover, Bitcoin is likely to remain in a mild bear phase, with a gradual grind lower more probable than a sharp collapse.



&nbsp;Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48666356/trader-who-lost-45-million-on-bitcoin-ethereum-solana-longs-now-turns-bearish">Trader Who Lost $45 Million On Bitcoin, Ethereum, Solana Longs Now Turns Bearish</a></li>
</ul>



Image: Shutterstock

Bitcoin's Drop To $100,000 Explained: Orderly Distribution Without Panic

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) are down around 10% over the past week as traders try to identify what could <a href="https://www.benzinga.com/money/dogecoin-doge-price-prediction">end the downturn</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>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1630</td><td>$24.7 billion</td><td>-13.6%</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.059007</td><td>$5.3 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>$0.055620</td><td>$2.4 billion</td><td>-16.7%</td></tr></tbody></table></figure>



Trader Notes: &nbsp;Crypto chart analyst Ali Martinez flagged a TD Sequential buy signal on Dogecoin, hinting at a potential local bottom.



<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">TD flashes buy on Dogecoin <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a>. Local bottom might be in! <a href="https://t.co/g84k4FtO5d">pic.twitter.com/g84k4FtO5d</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1986206391108038847?ref_src=twsrc%5Etfw">November 5, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



NekoZ <a href="https://x.com/NekozTek/status/1986363992403591542">noted</a> DOGE is sitting at the lower support of a large weekly symmetrical triangle, near its apex, a setup often followed by major volatility. A breakout above the upper trendline could target $0.35, marking a new bullish impulse.



Statistics: Shibburn data shows SHIB's burn rate spiked 674.3%, with 12.15 million SHIB permanently removed from circulation in the last 24 hours.



However, this hasn't translated into price gains as Shibarium activity continues to slide, daily transactions now hover around 1,500, down sharply from the 4 million seen a few months ago.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48587866/shiba-inu-plunges-6-but-burn-rate-soars-958-what-is-going-on">Shiba Inu Plunges 6% But Burn Rate Soars 958%: What Is Going On?</a></li>
</ul>



Image: Shutterstock

Dogecoin Flashes Buy Signal As Shiba Inu Burn Rate Surges 674% — What's Next?

Zcash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/zec/usd">ZEC</a>) extended its vertical rally above $516 on Thursday as BitMEX co-founder Arthur Hayes called it his "next $1,000 trade," fueling renewed retail and institutional interest in the <a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48570456/zcash-just-did-what-xrp-and-sol-couldnt-whats-behind-the-brutal-828-rally">privacy-focused token</a>.



<h3 class="wp-block-heading">Arthur Hayes Sparks Breakout Momentum</h3>



In a post on X, Hayes <a href="https://x.com/CryptoHayes/status/1986332585115488641">wrote</a>, "Choo Choo bitches. Next stop $ZEC = $1k," adding, "I hope all my haters keep shorting."&nbsp;



The comment came as Zcash accelerated into full breakout mode, extending a multi-week rally that began in early October.



Hayes is known for his high-conviction market calls and ability to influence sentiment across the cryptocurrency market.&nbsp;



His endorsement comes at a time when Zcash has already demonstrated strong structural momentum, backed by visible spot demand rather than leverage-driven speculation.



<h3 class="wp-block-heading">ZEC Price Enters Parabolic Zone As Buyers Chase Breakout</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065951/zec-bz-6th-nov-1024x694.png" alt="" class="wp-image-1151473" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065951/zec-bz-6th-nov-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065951/zec-bz-6th-nov-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065951/zec-bz-6th-nov-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065951/zec-bz-6th-nov-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065951/zec-bz-6th-nov.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



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



Zcash has entered a parabolic advance, with price action showing a clean staircase of higher highs and higher lows.



The daily chart reveals that not a single close has broken below short-term structure since early October.



The token trades well above the major EMA's, all fanned out and rising sharply — a textbook sign of directional strength.&nbsp;



The 20-day EMA near $360 remains the first meaningful support on the higher timeframe. As long as ZEC holds above it, the trend remains intact.



The RSI on the daily timeframe sits near 84, indicating overbought momentum but reflecting breakout strength rather than exhaustion.&nbsp;



In powerful uptrends, RSI can stay extended for long periods, and the Zcash structure currently fits that pattern.



<h3 class="wp-block-heading">Spot Inflows Just Flipped Green — Zcash Has Real Demand</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="2048" height="515" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065911/image-106.png" alt="" class="wp-image-1151469" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065911/image-106.png 2048w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065911/image-106-300x75.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065911/image-106-1024x258.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065911/image-106-768x193.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065911/image-106-1536x386.png 1536w" sizes="(max-width: 2048px) 100vw, 2048px" /></figure>



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



On Thursday, Coinglass recorded roughly $12 million in net positive inflows, marking the latest in a string of accumulation sessions that began weeks before the breakout.



These steady green flows are distinct from short-term spikes, signaling real buying interest.&nbsp;



<h3 class="wp-block-heading">Intraday Structure Remains Bullish</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="2048" height="1387" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065911/image-106.png" alt="" class="wp-image-1151467" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065911/image-106.png 2048w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065911/image-106-300x75.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065911/image-106-1024x258.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065911/image-106-768x193.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06065911/image-106-1536x386.png 1536w" sizes="(max-width: 2048px) 100vw, 2048px" /></figure>



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



On the 30-minute chart, ZEC shows disciplined dip buying, with price repeatedly rebounding from the VWAP and Supertrend bands before setting fresh highs.&nbsp;



Immediate intraday support sits near the $501 VWAP, followed by $487 at the Supertrend zone.&nbsp;



A break below both would cool momentum toward $460, but the broader trend remains bullish as long as price stays above the 20-day EMA.



Upside targets remain open, with potential extensions toward $550–$600 if momentum and spot demand persist.



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



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) trades near $102,781, down around 1% on the day.



XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) sits near $2.29, down roughly 2% despite new derivatives support.



While large caps move sideways, ZEC is up more than 8% and extending a vertical breakout.



The contrast shows capital rotating from majors into high-momentum, high-conviction plays.



Zcash has become the only privacy coin breaking structure while top assets remain stuck in consolidation.



Read Next: 



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Image: Shutterstock

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