By Francisco Rodrigues (All times ET unless indicated otherwise)Bitcoin BTC$99,671.44 and other major cryptocurrencies fell in the last 24 hours with the CoinDesk 20 (CD20) index retreating 2.17%, caught in the pullback that has gripped global markets this week.The broader retreat began with a sell-off in tech-heavy equity indices like the Nasdaq 100, which is down 3.4% this week. According to a report from Citi, bitcoin’s drop below its 55-day moving average is often an early warning sign that risk appetite in equity markets is starting to fade.Historically, when bitcoin holds above that threshold, tech stocks tend to perform better, Citi said. The recent crypto drop is largely due to tighter liquidity conditions.The U.S. Treasury’s recent cash rebuild and a drop in bank reserves, estimated around $500 billion since July, have made risk assets less attractive.While Treasury balances are nearing a point where tightening could pause, according to the report, the market hasn’t yet seen meaningful signs of a turnaround.Meanwhile, AI-related stocks slumped as investors question evaluations and aggressive spending on data centers. That skepticism has spilled into crypto, weighing on the bitcoin price.Jasper de Maere, an OTC strategist at Wintermute, said bitcoin options positioning remains concentrated between $102,000 and $105,000, with limited upside unless volatility picks up.Ether options flows are anchored in the $3,000–$3,400 range, with traders using options strategies that favor protection rather than bullish bets. Stay alert!Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets TodayWhat to WatchFor a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.CryptoMacroNov. 7, 7 a.m.: Federal Reserve Vice Chair Philip N. Jefferson is giving a speech on “AI and the Economy.” Watch live.Nov. 7, 8 a.m.: Brazil Sept. PPI YoY (Prev. 0.48%), MoM (Prev. -0.2%).Nov. 7, 8 a.m.: Mexico Oct. inflation rate. Headline YoY Est. 3.56%, MoM Est. 0.36%. Core YoY Est. 4.27%, MoM Est. 0.28%.Nov. 7, 8:30 a.m.: Canada Oct. Unemployment Rate Est. 7.1%.Nov. 7, 11 a.m.: Michigan Consumer Sentiment Nov. (Preliminary) Est. 53.2.Nov. 7, 3 p.m.: Federal Reserve Governor Stephen I. Miran is delivering a speech on “Stablecoins and Monetary Policy.” Watch live.Earnings (Estimates based on FactSet data)Token EventsFor a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.Governance votes & callsUnlocksToken LaunchesNov. 7: Aria Protocol (ARIAIP) to be listed on Binance, MEXC, and others.Nov. 7: SAPIEN$0.3197 to be listed on Crypto.com, Biconmy, and others.ConferencesFor a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.Market MovementsBTC is down 0.16% from 4 p.m. ET Thursday at $100,913.00 (24hrs: -2.64%)ETH is down 0.73% at $3,300.94 (24hrs: -3.71%)CoinDesk 20 is unchanged at 3,197.23 (24hrs: -2.74%)Ether CESR Composite Staking Rate is down 12 bps at 2.94%BTC funding rate is at 0.0055% (6.0148% annualized) on BinanceDXY is unchanged at 99.76Gold futures are up 0.57% at $4,013.70Silver futures are up 1.44% at $48.64Nikkei 225 closed down 1.19% at 50,276.37Hang Seng closed down 0.92% at 26,241.83FTSE is down 0.54% at 9,682.80Euro Stoxx 50 is down 0.49% at 5,583.84DJIA closed on Thursday down 0.84% at 46,912.30S&P 500 closed down 1.12% at 6,720.32Nasdaq Composite closed down 1.9% at 23,053.99S&P/TSX Composite closed down 0.78% at 29,868.59S&P 40 Latin America closed down 0.15% at 3,050.45U.S. 10-Year Treasury rate is up 1.3 bps at 4.106%E-mini S&P 500 futures are down 0.42% at 6,719.00E-mini Nasdaq-100 futures are down 0.56% at 25,102.00E-mini Dow Jones Industrial Average Index are down 0.33% at 46,874.00Bitcoin StatsBTC Dominance: 60.45% (-0.15%)Ether to bitcoin ratio: 0.03233 (-1.13%)Hashrate (seven-day moving average): 1,091 EH/sHashprice (spot): $40.64Total Fees: 3.33 BTC / $340,917CME Futures Open Interest: 135,765 BTCBTC priced in gold: 23.7 ozBTC vs gold market cap: 6.69%Technical AnalysisThe Altcoin Market Cap (Excluding Top 10) / BTC Ratio is testing weekly support (around $0.113 – $0.116). If bitcoin confirms a weekly close below the critical $107,000 support, as expected, this alt/BTC support level is also likely to be broken in the short term, signaling a flow back to BTC and more pain for the altcoin market.Crypto EquitiesCoinbase Global (COIN): closed on Thursday at $295.22 (-7.54%), -0.6% at $297Circle Internet (CRCL): closed at $100.01 (-11.52%), +0.69% at $100.70Galaxy Digital (GLXY): closed at $30.38 (-3.37%), +0.39% at $30.50Bullish (BLSH): closed at $44.59 (-7.72%), -0.31% at $44.45MARA Holdings (MARA): closed at $15.96 (-6.83%), -0.5% at $15.88Riot Platforms (RIOT): closed at $17.34 (-8.59%), -0.58% at $17.24Core Scientific (CORZ): closed at $20.59 (-5.55%)CleanSpark (CLSK): closed at $15.4 (-7.12%), +0.13% at $15.42CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $56.55 (-9.05%), +0.8% at $57Exodus Movement (EXOD): closed at $21.45 (-7.7%), +9.14% at $23.41Crypto Treasury CompaniesStrategy (MSTR): closed at $237.2 (-6.98%), -0.54% at $235.91Semler Scientific (SMLR): closed at $27.42 (-4.59%)SharpLink Gaming (SBET): closed at $11.17 (-7.91%), -0.18% at $11.15Upexi (UPXI): closed at $3.31 (-9.93%), +2.42% at $3.39Lite Strategy (LITS): closed at $1.84 (-0.54%)ETF FlowsSpot BTC ETFsDaily net flows: $239.9 millionCumulative net flows: $60.5 billionTotal BTC holdings ~1.34 millionSpot ETH ETFsDaily net flows: $12.5 millionCumulative net flows: $13.93 billionTotal ETH holdings ~6.57 millionSource: Farside InvestorsWhile You Were SleepingMarket Maker Flowdesk Says Crypto Credit Is Finding a Fragile Balance (CoinDesk): Flowdesk says leverage is easing as traders reassess counterparties while credit persists. Borrowing in SOL, XLM, ENA, APT and BTC stays strong, driven by hedging and funding rather than speculation.Zcash Breaks into Top-20 Crypto List, Hits $600 For First Time Since 2018 (CoinDesk): The rally coincided with renewed attention to privacy infrastructure and a wave of technical upgrades from Electric Coin Company, one of the network’s developers and maintainers.Robinhood’s Crypto Revenue Miss Tempers Solid Quarter: JPMorgan (CoinDesk): Third-quarter results were solid, but lower quality as weaker crypto revenue and tax benefits boosted earnings. Analysts, expecting margin improvement, raised the price target to $130 and maintained a neutral rating.IREN Shares Rise in Pre-Market Trading on Earnings Report, AI Growth Outlook (CoinDesk): Record fiscal first-quarter earnings followed expansion into AI cloud and increased bitcoin mining revenue as net income hit $384.6 million in the quarter ended Sept. 30, reversing a $51.7 million loss.Japan Government To Support Big Banks’ Project To Issue Stablecoins, Finance Minister Says (Reuters): MUFG, SMFG and Mizuho will pilot jointly issued yen-pegged tokens for cross-border payments and the FSA will review legal compliance.
Risk Assets Lose Appeal: Crypto Daybook Americas
