It got above 76,000, but volume shrank to a third of the morning’s
Bitcoin is currently at $76,057, down 0.11% over 24 hours, with an intraday high of 76,250 (at 17:00) and a low of 75,410 (overnight); Ethereum is at $2,246, up 0.36%, with an intraday high of 2,254 and a low of 2,217; Binance Coin is at $694.7, up 0.11%, and has stayed between 692 and 698 all day, still short of the 700 mark.
At midday, my take was “it hasn’t fallen below 75,000, but it hasn’t held above 76,000 either,” based on the high-volume pullback at 11:00. I read it at the time as people selling above 76,000. This afternoon, that call was partly disproven: for five consecutive hours starting at 13:00, the closing price stayed above 76,000. At 17:00, it surged to 76,250, also moving past the 76,208 level that had held it down all morning. I was wrong to read the morning’s final volume spike as selling: in the afternoon, trading volume fell from 25.9 million to 14.6 million, less than a third of the morning peak, yet the price climbed step by step. Sellers left on their own; buyers didn’t rush in.
The stronger evidence is in leverage: the price was about $170 higher than at midday, yet the funding rate fell from 0.0042% to 0.0000% (the neutral baseline is 0.01%); longs didn’t chase at all. Open interest in futures contracts was 95,966 coins, just 268 more than at midday—no fresh money came in. The total crypto market cap was $2.5707 trillion, down 2.20%. Its absolute value was higher than the $2.5664 trillion at midday, and the decline narrowed from 3.02%, so smaller altcoins have also stopped bleeding for now. One more note: the 24-hour change flipped from up 0.13% at midday to down 0.11%. Don’t read that as another leg down—the price has been rising; it’s just that yesterday’s high has rolled out of the measurement window.
Two news items. On-chain monitoring shows that one address withdrew 13,100 ETH, worth about $30 million, from exchanges over six days. Withdrawing coins reduces immediate selling pressure, which aligns with today’s market action. The other: Taiwan’s stock market closed down 4.51% on Friday, entering a technical bear market. Authorities have tightened short-selling rules in response, and the latest wave of AI-related selling in Asia has yet to run its course.
Tonight, watch whether 76,000 holds amid thin weekend liquidity. 76,208 is only $42 higher—not enough to count as a real breakout. The real test comes at Monday’s U.S. stock market open; prices pushed up over the weekend are especially likely to mislead.
Do you think this wave means selling pressure has run out, or is it a false rebound with no buyers over the weekend?
Data source: Live market data and on-chain monitoring (data as of November 7, 18:07 UTC+8)
#盘前速览 #行情 #Cryptocurrency
$BTC $ETH
Bitcoin is currently at $76,057, down 0.11% over 24 hours, with an intraday high of 76,250 (at 17:00) and a low of 75,410 (overnight); Ethereum is at $2,246, up 0.36%, with an intraday high of 2,254 and a low of 2,217; Binance Coin is at $694.7, up 0.11%, and has stayed between 692 and 698 all day, still short of the 700 mark.
At midday, my take was “it hasn’t fallen below 75,000, but it hasn’t held above 76,000 either,” based on the high-volume pullback at 11:00. I read it at the time as people selling above 76,000. This afternoon, that call was partly disproven: for five consecutive hours starting at 13:00, the closing price stayed above 76,000. At 17:00, it surged to 76,250, also moving past the 76,208 level that had held it down all morning. I was wrong to read the morning’s final volume spike as selling: in the afternoon, trading volume fell from 25.9 million to 14.6 million, less than a third of the morning peak, yet the price climbed step by step. Sellers left on their own; buyers didn’t rush in.
The stronger evidence is in leverage: the price was about $170 higher than at midday, yet the funding rate fell from 0.0042% to 0.0000% (the neutral baseline is 0.01%); longs didn’t chase at all. Open interest in futures contracts was 95,966 coins, just 268 more than at midday—no fresh money came in. The total crypto market cap was $2.5707 trillion, down 2.20%. Its absolute value was higher than the $2.5664 trillion at midday, and the decline narrowed from 3.02%, so smaller altcoins have also stopped bleeding for now. One more note: the 24-hour change flipped from up 0.13% at midday to down 0.11%. Don’t read that as another leg down—the price has been rising; it’s just that yesterday’s high has rolled out of the measurement window.
Two news items. On-chain monitoring shows that one address withdrew 13,100 ETH, worth about $30 million, from exchanges over six days. Withdrawing coins reduces immediate selling pressure, which aligns with today’s market action. The other: Taiwan’s stock market closed down 4.51% on Friday, entering a technical bear market. Authorities have tightened short-selling rules in response, and the latest wave of AI-related selling in Asia has yet to run its course.
Tonight, watch whether 76,000 holds amid thin weekend liquidity. 76,208 is only $42 higher—not enough to count as a real breakout. The real test comes at Monday’s U.S. stock market open; prices pushed up over the weekend are especially likely to mislead.
Do you think this wave means selling pressure has run out, or is it a false rebound with no buyers over the weekend?
Data source: Live market data and on-chain monitoring (data as of November 7, 18:07 UTC+8)
#盘前速览 #行情 #Cryptocurrency
$BTC $ETH