Good morning, November 13. Yesterday, the markets were another sea of green (down) 😮💨 Let’s take a look at what happened over the past 24 hours:
📉 Market Snapshot
$BTC Bitcoin fell below 72,000 and tested around 71,000, down about 8% for the week. It also failed to hold the 200-day moving average, with the weekly chart nearing its sixth straight down week. Support is at 70,000–71,500; it needs to reclaim 75,000 before things look better.
$ETH Around 2,045, back to 2021 levels. XRP is around 1.03, holding the $1 mark; SOL is hovering near 82.
The pressure is mainly macro-driven: the 10-year Treasury yield topped 5.1%, the US Dollar Index hit a 19-month high, and markets are starting to price in a December rate hike.
💸 ETF flows
BTC spot ETFs saw outflows for five consecutive days, totaling $1.44 billion, making net inflows for the year negative for the first time. ETH ETFs also saw about $145 million in outflows in a single day.
🚨 Major regulatory news
1) The U.S. Department of Justice seized about $1.2 billion in stolen funds from North Korean hackers. The total frozen in the Binance hack case has reached about $2.7 billion.
2) The White House nominated four new members to the SEC and CFTC at once—the first time in more than a year.
3) The CFTC approved a tZERO subsidiary as a registered derivatives exchange.
4) TRON, Tether, and Chainalysis teamed up to establish a task force to combat digital crime.
🏦 Traditional finance keeps moving on-chain
DTCC plans to bring its tokenization services to Solana in the second half of 2027; Visa added Western Union’s USDPT stablecoin to its settlement network; SoFi’s stablecoin launched on Polygon; and Securitize and Ethena built a 24/7 liquidity channel for BlackRock’s BUIDL.
Prices are cold, but development hasn’t stopped.
⛏️ On-chain activity and miners
BTC mining difficulty is expected to drop by about 7.8% this weekend, its largest decline since June; an address dormant for four years transferred 1,000 BTC to an exchange—worth keeping an eye on.
🔐 Security reminder
Trezor confirmed that three Safe 5 devices purchased from third-party resellers had been implanted with data-stealing modules. Always buy hardware wallets through official channels!
🗣️ What are the bulls and bears arguing about?
Bears are calling for $60,000, with some saying sentiment feels like it did during the FTX days; on the bull side, Adam Back is outright betting on $1 million by 2028. A copy-paste “I’m leaving crypto” post is also flooding X—everyone’s burnout is written all over their faces 😂
Do you think this is the bottom or just halfway down? Share your thoughts in the comments 👇
⚠️ Disclaimer: This article is a compilation of information from public sources. Details may be inaccurate and it does not constitute investment advice. Crypto assets are volatile; make your own decisions and be mindful of the risks.