1Price and market
- As of 8:45 AM ET, Bitcoin traded at $73,770: down 0.3% over 24 hours, 8.2% over 7 days and 9.7% over 30 days.Binance
- Price spent the entire European session in a tight $73,535–74,180 band; the low since the start of the UTC day was $73,209, set overnight in Asian hours.Binance
- The 24-hour range was $72,727–74,844: the bottom is Tuesday's post-CPI low, the lowest level since Aug 20.Binance
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- Bitcoin is sitting out the stock rebound: while Nasdaq-100 futures added 1.7–1.9% on CoreWeave's earnings, its price barely moved.CoinDesk
- Binance BTC/USDT spot volume over 24 hours was 17,812 BTC (about $1.31 billion).Binance
- Bitcoin's market cap was about $1.48 trillion and the whole crypto market $2.48 trillion (down 3.4% in a day); BTC dominance was 59.8%, ETH 10.1%.CoinGecko
- Altcoins as of 8:45 AM ET: Ether at $2,053 (down 0.7% in 24 hours), Solana at $84.29 (flat), XRP at $1.057 (down 1.2%); Zcash lost 13–14% on the day, while Gram (formerly Toncoin) rose about 5%.CoinDesk
- The Coinbase premium to Binance was -0.02% (about -$15): US buyers were neither pressuring the price nor supporting it ahead of the open.Coinbase
- Bitcoin sat 41.5% below its record of $126,080 (Oct 6, 2025).CoinGecko
2Technical analysis
- Daily RSI(14) is 34.3: close to oversold (the threshold is 30), but not there yet.Binance
- MACD at -1,885 is below its signal line at -1,510, histogram -375: downside momentum persists but did not build during the day.Binance
- Price is below the 20-day EMA ($77,421), 50-day EMA ($78,899) and 200-day EMA ($76,738), all three acting as resistance; the last EMA cross was a golden cross on Sep 17.Binance
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- The 200-day simple moving average is $73,191 and the Mayer Multiple is 1.01: price is holding just 0.8% above it, and Tuesday's dip to $72,727 was bought.Binance
- The 50-week moving average is $75,205, with price 1.9% below it: together with the 24-hour high of $74,844, it is the nearest serious ceiling.Binance
- Levels: support at $73,200 (200-day SMA), $72,700 (Tuesday's low) and $72,000; resistance at $74,500 (max pain for tomorrow's expiry), $75,200 (50-week MA) and $76,700 (200-day EMA).Binance
- Matt Mena of 21Shares said on Nov 10 that a sustained move below $73,000 would open the way to $69,000 (the 2021 peak), while a bounce would target $78,000.The Block
- The 200-week moving average is $67,868, with price 8.7% above it; the Pi Cycle ratio is 0.50, far from overheated.CoinLab
- Fractals: the latest two-week stretch (-9.1%) resembles six past episodes, four of which were followed by gains (median +9.8%); the 50-day pattern also went up 4 times out of 6, but with a median of just +1.6%. Statistics, not a promise.CoinLab
- Polymarket puts the median price for 12:00 PM ET on Nov 12 at $73,875 (interquartile $72,625–75,216) and gives a 50% chance that price ends above its level at publication; our sideways base case of $72,800–75,000 nearly matches that band.Polymarket
3Derivatives
- Crypto liquidations over 24 hours totaled $725 million (up 288% from the prior day); Bitcoin accounted for $200.5 million, 85% of it longs, and Ether for even more at $253 million.CoinDesk
- Crypto futures volume rose 24% in a day to $204.8 billion, while market-wide open interest slipped 1% to $127.2 billion: leverage is being cut, but without panic.CoinDesk
- Binance's liquidation feed shows about $44.7 million in BTC longs and $9.9 million in shorts wiped out on Nov 10, versus just $1.8 million and $2.2 million so far on Nov 11 (a lower-bound estimate): the flush is over.CoinLab
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- Open interest in Binance BTC futures is 100,503 BTC (about $7.42 billion): flat on the day and down 3.7% on the week.Binance
- Funding cooled through the day: Binance 0.0063% per 8 hours, Bybit 0.0072%, OKX 0.0035%, Hyperliquid 0.0026% (3–8% annualized); in the morning all four venues were near 0.01%.Binance
- Binance account long/short ratio is 2.96 (74.7% long); top traders are at 2.23: retail remains crowded on the long side.Binance
- The taker buy/sell ratio on Binance futures is 0.93: aggressive sellers outnumber buyers.Binance
- The annualized premium on December Bitcoin futures is 5–7%: moderate demand for leverage, no overheating.CoinDesk
- The CoinLab squeeze index is -2 (-7 this morning, -31 a day ago): no tilt toward either a long flush or a short squeeze.CoinLab
4Options
- Tomorrow, Nov 12, at 3:00 AM ET (08:00 UTC), 2,380 BTC of options expire on Deribit with max pain at $74,500 and a put/call ratio of 1.11.Deribit
- Friday, Nov 13: a 32,834 BTC expiry with max pain at $76,500 and put/call of 0.55; the largest positions sit in far out-of-the-money calls at $81,000 (8,306 BTC) and $84,000 (5,231 BTC), which expire worthless without a sharp rally.CoinDesk
- The Nov 27 monthly expiry holds 79,644 BTC with max pain at $79,000; the Dec 25 expiry holds 141,930 BTC with max pain at $75,000.Deribit
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- The DVOL volatility index is 39.95 (39.7 a week ago), implying a daily move of about ±2.1%, or ±$1,540.Deribit
- Total options put/call ratio is 0.75, with open interest of 346,334 BTC ($25.6 billion).Deribit
- Across the Nov 12–27 expiries, put volume is running 1.5 times call volume; eight of the ten most-traded contracts are puts struck at $69,000–74,000, led by the Nov 27 $69,000 put.CoinDesk
- At-the-money implied volatility is about 38% for Nov 13 and 36% for Nov 27; 25-delta puts cost 4–5 vol points more than calls — demand for downside protection is holding firm.CoinDesk
5ETFs and institutions
- Spot Bitcoin ETFs lost $95 million on Nov 10, a fourth straight day of outflows: IBIT -$78.2 million (its eighth consecutive session of redemptions), FBTC -$36.8 million, with only MSBT taking in money (+$20.0 million).CoinDesk
- Cumulative net inflows into spot Bitcoin ETFs stand at $55.42 billion and assets at $92.82 billion (1.26 million BTC, about 6.3% of Bitcoin's market cap); Nov 10 trading volume was $2.06 billion.CoinLab
- Ether ETFs lost just $1.3 million on Nov 10; fund assets are $11.64 billion. Nov 11 data will arrive overnight.CoinLab
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- Miner MARA sold 13,597 BTC at an average $81,039 (about $1.1 billion) in the six weeks after the end of September, repaid $750 million in Bitcoin-backed loans and plans to keep selling to fund AI data centers.CoinDesk
- Strategy holds 850,363 BTC at an average $75,456: the price at publication was 2.2% below its cost basis.The Block
- 181 public companies hold 1.30 million BTC (6.2% of supply), worth about $96 billion; after Strategy the largest are Metaplanet (44,000 BTC), Twenty One (43,514) and Strive (43,153).CoinGecko
- Bitmine reported a net loss of more than $6.3 billion for the fiscal year ended Aug 31: nearly all of it is a paper markdown on 5.9 million ETH after Ether fell 44%.The Block
- Deutsche Bank went live with digital asset custody for corporate and institutional clients in Europe, covering Bitcoin, Ether, USDC, EURC and EURAU.The Block
- Shares of miners that pivoted to AI capacity are rising premarket alongside CoreWeave: IREN up 6–8%, Cipher up 7%, Galaxy Digital up 5%.CoinDesk
6Sentiment and on-chain
- The Fear & Greed Index is 29 (Fear), versus 32 yesterday, 34 a week ago and 69 a month ago.alternative.me
- The CoinLab market temperature reads 27 out of 100 (28 yesterday): across eight cycle metrics the market is in the cold zone.CoinLab
- MVRV is 1.42 (as of Nov 2), the 33rd historical percentile: the average holder is about 42% in profit.Coinmetrics
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- The short-term holder cost basis is about $75,877 (as of Nov 4): price is 2.8% below it, so recent buyers are underwater and selling into bounces.Bgeometrics
- Stablecoin supply is $292.9 billion, down 1.6% in a week and 4.9% ($15.0 billion) in 30 days — money keeps leaving crypto.Defillama
- Polymarket's November odds: 79.5% for a drop to $72,500, 52.5% for $70,000 and 28.5% for $67,500; 56% for a touch of $77,500 and 34.5% for $80,000.Polymarket
- CoinMarketCap's Altcoin Season Index is 40 out of 100, versus 49 last Thursday (the 'season' threshold is 75): money is leaving altcoins faster than Bitcoin.CoinDesk
- Zcash saw the largest altcoin liquidations of the day at $40.3 million: its open interest fell 10.5%, and money is also leaving Grayscale's Zcash fund.CoinDesk
7Mining
- Hashrate is about 960 EH/s; difficulty is 148.4 T.mempool.space
- The next difficulty adjustment is due around Nov 13 (306 blocks left, 85% through the epoch), estimated at -6.9% as miners unplug machines after the price drop; the last one was +5.5%.mempool.space
- Fees are low: 3 sat/vB for fast confirmation and 1 sat/vB within an hour; block height is 975,438, with 74,562 blocks to the halving (expected around April 2028).mempool.space
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- Bitcoin Core developers disclosed three already-patched vulnerabilities on Nov 10; the most severe kept miners from building valid block templates until the node was restarted. All are fixed in versions 30.0 and 29.2.The Block
- MARA's Q3 revenue fell 35% to $164 million; the company has sold more than 40,000 BTC since the start of 2026.CoinDesk
8Macro
- No US data came out at 8:30 AM ET today: it is Veterans Day, the bond market is closed, and stocks trade as usual from 9:30 AM ET. The next release is the PPI on Friday, Nov 13, at 8:30 AM ET.Investinglive
- Markets are still digesting October CPI, released Nov 10: +0.4% month over month vs. +0.3% expected, with core at +0.3% vs. +0.2% — a third straight month at that pace.CoinDesk
- Futures were higher ahead of the open: as of 7:35 AM ET the Nasdaq-100 was up 1.9%, the S&P 500 up 0.9% and the Dow up 0.1%; on Tuesday the S&P 500 closed at 7,520.93 (down 0.38%) and the Nasdaq at 25,065.87 (down 0.74%).CNBC
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- CoreWeave is driving the rebound: Q3 revenue rose 168% year over year, full-year guidance was raised to $13.0–13.3 billion, and the stock is up 13–16% premarket; Nvidia is recovering 4–5% after falling nearly 10% in two days.CoinDesk
- The 2-year Treasury yield closed Nov 10 at 4.73% (up 17 bp on the day) and the 10-year at 4.98% (up 10 bp); with no trading today, the bond market's next move is on hold until Thursday.Treasury
- The Fed funds rate is 3.75–4.00% and the next meeting is Dec 8–9: CME FedWatch shows about 90% odds of a 25 bp hike, with 13–14% priced for a 50 bp move.CNBC
- Polymarket for December: 85.5% for +25 bp, 11.4% for +50 bp or more, 3.7% for no change; January is a coin flip — 50.5% for another hike, 48.5% for a pause.Polymarket
- Fed officials sound hawkish after CPI: Waller is open to a 50 bp move if core comes in at 0.3% or higher again, Logan sees a need for at least two 25 bp hikes, and Goolsbee called inflation 'borderline alarming.'.Investinglive
- Rick Rieder of BlackRock calls a December hike the base case, with only the size in question; UBS expects 25 bp each in December and March and sees little support for a 50 bp move.CNBC
- Europe and Asia are in the green: the Stoxx 600 is up 0.3%, Germany's DAX is near record levels and Infineon is up 6.3%; the Kospi closed at 5,375 (up 2.6%) and the Nikkei at 61,249 (up 1.3%), while the Hang Seng was down 0.7%.CNBC
- The dollar is firming: the DXY index is 102.6 (up 0.4% on the day), the euro is at $1.114, and USD/JPY is above 159, its highest in more than two months, with traders wary of Japanese intervention near 160.Investinglive
- WTI crude is near $87.2 (up 1.3–1.5% on the day) and gold at $4,044–4,051 an ounce (up 0.3–0.5%); the VIX closed Tuesday at 18.45.Investinglive
- Anthropic is preparing its IPO: per the Financial Times, bankers are discussing a valuation of $1.5 trillion or more, and Google, Nvidia and Microsoft could invest $26 billion in a private placement at the IPO price — keeping interest in AI stocks alive.CoinDesk
9Regulation and events
- US-Iran talks are deadlocked: Qatar said it secured at least two weeks for diplomacy, but 'significant differences remain'; oil is recovering the drop it took on hopes of a quick deal.Investinglive
- OKXICE, the joint venue of OKX and Intercontinental Exchange, will launch tokenized securities trading on Nov 23 under the SEC's 'innovation exemption': 70 stocks and 59 ETFs are confirmed, while 67 companies, including Tesla, Meta and Netflix, opted out.The Block
- Deutsche Bank's asset management arm (€1.22 trillion) signed a memorandum with the bank covering tokenized money market funds, crypto ETCs and stablecoins.The Block
3 more facts
- Democrats won majorities in both chambers of Congress in the Nov 3 elections: oversight of SEC and CFTC crypto policy could tighten from January.Bloomingbit
- From Nov 12 the European Banking Authority (EBA) takes over supervision of the USDC issuer's reserves and liquidity.CoinDesk
- Calendar: Nov 13 — PPI at 8:30 AM ET, a 32,834 BTC expiry and the difficulty adjustment; Nov 18 — Fed minutes; Nov 25 — PCE; Dec 8–9 — Fed meeting.CoinDesk