Although the crypto sentiment index hasn’t fallen this low in more than eight months, some analysts argue the situation isn’t as dire as it appears. Crypto sentiment has dropped to its most fearful level in over eight months, as ongoing macroeconomic uncertainty continues to rattle market participants. However, crypto analysts are anticipating the bearish mood to be short-lived. The Crypto Fear & Greed Index, which measures overall market sentiment, posted an “Extreme Fear” score of 10 in its Saturday update, the lowest score it has seen since Feb. 27, as Bitcoin (BTC) fell below $95,000 on Friday and has yet to reclaim above $96,000 at the time of publication, according to CoinMarketCap. Read more
Crypto sentiment platform Santiment warned that when many people start calling a crypto market bottom, it’s wise to stay skeptical. Crypto market lows are unlikely to form at moments when many analysts and traders are calling for one, according to crypto sentiment platform Santiment. “Be cautious when you see a widespread consensus forming about a specific price bottom,” Santiment said in a report on Saturday, adding that “true bottoms often form when the majority expects prices to fall further.” Santiment said that this has recently emerged as a trending topic on social media after Bitcoin (BTC) briefly fell below $95,000 on Friday amid a wider technology stock decline. “This suggests many traders believe the worst is over,” Santiment said, arguing that historically such sentiment is often followed by further downside. Read more
Jeff Park’s pro-CFTC comments come just days after US senators introduced a bill pushing to shift crypto oversight from the SEC to the CFTC. Despite some complexities around the recently proposed crypto market structure bill, a clearer picture is starting to form regarding crypto market oversight, according to ProCap BTC chief investment officer Jeff Park. “The CFTC will own a larger domain over crypto than the SEC,” Park said during an interview with crypto entrepreneur Anthony Pompliano published on YouTube on Friday, while emphasizing that there is still “lots of complexity with different stakeholders.” “I think that is directionally correct in my opinion,” he said. “The CFTC is in the business of financial innovation at large, and it is in the business of managing capital efficiency, and leverage and derivatives products,” he said, explaining that aligns with what the crypto industry is building, a new settlement layer that brings capital efficiency at different speeds. Read more
The weakness in the AI sector contributed to the crypto market downturn, as spot BTC ETF outflows and isolated selling sent Bitcoin price to a six-month low. Key takeaways: Bitcoin softened as tech sector weakness spilled into crypto markets, reducing risk appetite and limiting demand for bullish leverage. Persistent spot Bitcoin ETF outflows and targeted sales from a 2011 holder exacerbated downward pressure. Read more
Solana ETFs recorded inflows for 13 consecutive days, but SOL price lost key technical support levels, sparking fears of a drop to $100. Key takeaways: The spot Solana ETFs have recorded inflows for 13 consecutive days. SOL broke its multi-year uptrend, slipping below a key moving average. Read more
Nearly 67% of investors forecast an interest rate cut of 25 basis points in December when polled during the first week of November. Only 45.9% of investors anticipate an interest rate cut at the next US Federal Open Market Committee (FOMC) meeting in December, amid declining market sentiment and a downturn in the cryptocurrency market. The odds of a 25 basis point (BPS) interest rate cut in December were nearly 67% on Nov. 7, according to data from the Chicago Mercantile Exchange (CME) Group. In September, several banking institutions forecast at least two interest rate cuts in 2025, with market analysts at investment banking company Goldman Sachs and banking giant Citigroup each projecting three 25 BPS cuts in 2025. Read more
BitMine held about $11 billion worth of ETH as of this week, making it the largest Ether treasury in the cryptocurrency industry. BitMine Immersion Technologies has overhauled its leadership as it continues to amass one of the largest Ether treasuries across publicly traded companies. In a Friday notice, BitMine announced that Chi Tsang would succeed Jonathan Bates as the company’s CEO, effective immediately. The Ether (ETH) treasury company reported holding more than 3.5 million tokens as of Monday, bringing its valuation to more than $11 billion at a price of $3,175. “With its substantial Ethereum holdings and credibility with both Wall Street and the Ethereum ecosystem, BitMine is positioned to become a leading financial institution,” said Tsang. Read more
Major mining stocks dropped 20%–50% this week, erasing billions in value as the sector continued to lag Bitcoin’s latest pullback. Publicly traded Bitcoin mining companies had a tough week, with nearly every major miner posting double-digit declines as the sector sharply underperformed Bitcoin itself. Over the past five trading days, names like Cipher, Applied Digital, Core Scientific, CleanSpark and Bitdeer slid between 23% and 52%, while other operators such as Riot and Hut 8 saw mid-teens losses. Bitcoin (BTC) was trading about $94,400 at the time of writing, down about 9% over the past seven days. Read more
Bitcoin lost multiple critical support areas as data show short-term investors holding on to capitulation-level losses, raising fears of a deeper breakdown in BTC price. Bitcoin (BTC) broke below its June support near $98,000 on Thursday, marking its first clear lower high–lower low structure on the daily chart since February. The decline deepened on Friday as BTC slid to $94,500, bringing it within striking distance of the $93,500 yearly open, a level that would fully erase its gains for 2025. Key takeaways: Bitcoin is at risk of its first weekly close below the 50-week SMA since 2023, breaking a two-year uptrend. Read more