Key TakeawaysBitcoin rebounded to around $103,900, up 1% in early Wednesday trading after testing the $99,000 support level.Ether climbed 2% to $3,435 following a steep 20% slide over the previous 48 hours.The CoinDesk 20 Index rose 2.2% since midnight UTC, though altcoins remain broadly lower.Privacy tokens like Monero (XMR) continue to outperform, rising 7% amid broader market weakness.Bitcoin Holds Above $103K After Two-Day Sell-OffAfter a sharp sell-off earlier this week, the crypto market is showing tentative signs of stabilization. Bitcoin (BTC) recovered to $103,876, rising roughly 1% since midnight UTC, after briefly dipping below $100,000 — its lowest level since June. Analysts note that BTC must continue to hold the $99,000 support zone to avoid renewed downside pressure.Meanwhile, Ether (ETH) bounced 2% to $3,435, regaining some ground after its steepest two-day decline in three months. Despite the rebound, sentiment remains fragile, and traders are watching how the strengthening US dollar might affect risk assets in the days ahead.Altcoins Still Lag as “Mini Altcoin Season” FadesThe broader altcoin market continues to underperform Bitcoin, with several major tokens erasing gains from earlier this year. The average crypto Relative Strength Index (RSI) now stands at 38, indicating oversold conditions.Despite widespread weakness, privacy tokens remain a notable exception. Monero (XMR) rose 7% on Wednesday, extending a month-long uptrend that has seen it outperform most large-cap peers. In contrast, Decred (DCR) and Zcash (ZEC) cooled off slightly but remain higher on a 30-day basis.Derivatives Market Shows Caution as Leverage DeclinesIn the derivatives market, traders are showing caution after recent volatility. Open interest (OI) in Bitcoin futures fell from $26 billion to $25.3 billion, reflecting reduced leverage despite Bitcoin’s higher year-over-year price.The three-month annualized basis remains subdued around 3–4%, signaling limited appeal in the basis trade. Funding rates across major exchanges are low (4–9% annualized), underscoring a lack of strong directional conviction.Bitcoin options data show elevated implied volatility (IV) across all expiries, suggesting traders expect heightened price movement in the near term. The 24-hour put-call ratio stands at 58–42 in favor of calls, signaling a mild bullish bias among options traders.Liquidations Ease But Market Remains SensitiveRecent price swings were amplified by leveraged unwinds, with $1.7 billion in liquidations over the past 24 hours — 76% from long positions. Ether (ETH) led losses with $572 million liquidated.Average long liquidations over the past two days totaled $1 billion, significantly above the seven-day average of $620 million, confirming forced selling as a major driver of recent volatility. Analysts note that near-term resistance for Bitcoin sits at $102,500, where $124 million in potential liquidations could trigger renewed pressure.Relief Rally or Prolonged Consolidation?Traders are watching whether Bitcoin can sustain its rebound above $103,000, with $99,000 and $3,100 remaining key support levels for BTC and ETH respectively. If these levels hold, a short-term bounce could extend across the market.However, continued dollar strength and cautious derivatives positioning may limit upside momentum. Altcoins remain vulnerable to further declines due to low liquidity and skewed leverage structures, though deeply oversold conditions suggest a possible relief rally ahead.

Key TakeawaysInternet Computer (ICP) dropped nearly 25% after peaking above $6.50 on Tuesday.Profit-taking and volatility erased much of its earlier 64% surge.Trading volume spiked to 20.48 million tokens — over 4x its 30-day average.ICP now consolidates near $5.00, with key support at $4.77 and resistance around $5.20–$5.40.ICP Pulls Back After Major Rally Above $6.50Internet Computer (ICP) experienced a sharp correction on Wednesday, falling to about $5.17 after a major rally earlier in the week. The decline represents a nearly 25% drop from its recent high as traders took profits following a rapid, 64% surge that lifted the token above $6.50.According to CoinDesk Research’s technical data model, ICP’s Tuesday rally shattered multiple resistance levels before reversing during the European morning session. The correction reflects both intense profit-taking and broader caution across the altcoin market.Trading Volume Surges 400% Above AverageTrading activity remained exceptionally high, with 20.48 million ICP tokens exchanged — about 418% above the 30-day average. This spike in volume highlights heightened market participation and rapid intraday swings between $4.77 and $6.35.Analysts note that such trading patterns suggest both speculative activity and ongoing institutional engagement, even amid heightened volatility.Technical Outlook: Support at $4.77, Resistance Near $5.40Technically, ICP is stabilizing above a key support zone around $4.77–$4.80, which has repeatedly attracted buyers over recent sessions. Resistance now forms between $5.20 and $5.40 — areas where past rallies have met selling pressure.A decisive break above this resistance range could renew bullish momentum and retest the $6.00–$6.50 region. Conversely, a drop below $4.77 would risk a deeper correction toward $4.50.Broader Market ContextICP’s volatility mirrors broader crypto market trends this week, where profit-taking and uncertainty have capped recent rallies. Despite the retracement, the token remains one of the better performers among large-cap altcoins, with strong liquidity and continued institutional trading interest signaling potential for renewed momentum, according to CoinDesk. 

According to TechFlow, Ripple has completed a $500 million funding round led by Fortress and Citadel Securities. The round underscores strong institutional interest in blockchain-based payment systems and Ripple’s expanding role in digital finance.The capital infusion is expected to bolster Ripple’s liquidity solutions, cross-border payment technology, and potential regulatory and market expansion efforts. The participation of leading financial institutions highlights the increasing integration of traditional finance players into blockchain infrastructure development.

According to Odaily, citing Coinglass data, approximately $52.17 million worth of positions were liquidated across the crypto market in the past four hours. Of the total, $38.41 million were short positions, while $13.76 million came from long positions.The sharp liquidation activity suggests heightened volatility and rapid price movements across major cryptocurrencies. Such liquidations often occur during sudden market reversals, amplifying short-term price swings and leverage risks across trading platforms.

According to Odaily, Grayscale Investments has announced a waiver of sponsor fees for its Grayscale Solana Trust ETF. The firm also confirmed that certain related fees will be reduced during the staking period.The offer will remain in effect for up to three months, or until the fund’s assets under management reach $1 billion — whichever comes first. Grayscale’s decision highlights rising institutional interest in Solana and reflects competitive positioning among crypto asset managers as demand for staking-enabled products expands.

According to Odaily, the final reading of the S&P Global Services Purchasing Managers’ Index (PMI) for October was 54.8, missing expectations of 55.2 and down from the preliminary figure of 55.2. The S&P Global Composite PMI, which tracks both manufacturing and services output, also came in lower at 54.6, compared with the expected 54.9 and the prior reading of 54.8.While both indicators remain above the 50 threshold that separates expansion from contraction, the slowdown suggests moderating momentum in US economic activity as higher borrowing costs and policy uncertainty weigh on business sentiment.

According to reports from ChainCatcher and Odaily, Federal Reserve Governor Milan stated that the disappearance of tariff revenues could have implications for U.S. monetary policy. He added that the Fed’s current stance remains too restrictive, posing potential risks to the economy.Milan emphasized that while inflation concerns persist, the overall policy framework may be constraining growth. He noted that continued interest rate reductions are a reasonable path forward to balance economic stability and risk management.His comments align with recent discussions among policymakers about easing conditions to support growth amid weakening fiscal inputs and slowing global demand. 

According to BlockBeats, Bank of England Deputy Governor Briden stated on November 6 that it is crucial for the United States and the United Kingdom to maintain synchronized progress on stablecoin regulation.Briden emphasized that consistent frameworks across major economies are essential to ensure stability and mitigate regulatory arbitrage as digital assets evolve. The comments come as both countries continue refining their approaches to integrating stablecoins into the broader financial system, amid growing global scrutiny of digital payment instruments.

According to Odaily, U.S. President Donald Trump emphasized the urgency of reopening the government during a breakfast meeting with Republican senators. Trump stated, "We must act immediately to reopen the government. Our economy is experiencing unprecedented growth, and the shutdown has impacted the stock market. However, as of last Friday, the stock market has reached multiple new highs over the past nine months, and it will continue to rise. This is just the beginning, as the situation will change significantly once these factories start operating. We have never seen such prosperity, and it presents a great opportunity."

According to Odaily, blockchain data monitoring reveals that Huang Licheng, also known as 'Machi Big Brother,' has increased his leveraged Ethereum position to 2,211.1111 ETH using 25x leverage. The position is valued at approximately $7.5 million, with a current unrealized profit of around $146,000. The liquidation price for this position is set at $3,264.92.

PING attempts to leverage Launchpad to strip away its pure MEME attributes while adding a positive flywheel, while PAYAI expands from its original tool attributes to the infrastructure protocol layer through token migration.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on MEME, DeFi, DAO, NFT, and the metaverse industry.

The current high valuations of US stocks have raised concerns about a potential bubble. A UBS report points out that the market already has seven indicators of a bubble forming.

There is no absolute right or wrong. Web3 will not be a purely code-based world, but rather an ecosystem where code trust and entity trust coexist.

The cryptocurrency market experienced a chilling downturn in the first week of November.

Prices do speak, but they only express emotions: leveraged runs, liquidity withdrawals, and shifts in safe-haven flows all lower the curve, but they don't prove the algorithm has been broken.

Democratic socialist Zohran Mamdani has been elected the next mayor of New York City, defeating former New York Governor Andrew Cuomo, who had recently campaigned on a platform promising to turn the city into a hub for blockchain and crypto innovation.

StraitsX is expanding its stablecoin network to link Singapore, Thailand, Taiwan, and Japan, enabling real-time cross-border payments from 2026. The system will let travellers and merchants use local wallets while settlements happen instantly in domestic currencies, with XSGD facilitating the transactions behind the scenes.

DeFi, the crypto market, surviving with low risk: DeFi arrival, retail investor bear market survival strategies. Golden Finance, DeFi: Every dream ends with ringing the doorbell for retail investors.

Former Australian NRL player Trent Merrin has been charged with stealing $140,000 in cryptocurrency and was arrested at his Barrack Point home. Police allege he accessed another person’s crypto account without permission, and he is due to appear in court on 3 December.