Bitcoin is around 68,226 this morning.$BTC It’s down 3.67% in 24 hours, trading in a range of roughly 67,831 to 70,894, and down about 9.9% over the past 7 days. After the PPI data came out last night, the price briefly touched 70,214 but couldn’t hold there and gave back its gains. The 70,000 level was decisively broken last night. U.S. stock markets are closed today, Saturday, and liquidity tends to be thinner over the weekend, so short-term volatility may be elevated.
$ETH is around 1927, down 4.04% in 24 hours, with a low of around 1905. It’s down about 13.7% over the past 7 days, underperforming Bitcoin. BNB is around 630.24, down 3.44%, and down about 9.0% over the past 7 days. SOL is around 77.04, down 5.11%. It has fallen below $80 and is down about 13.7% over the past 7 days, showing relatively weak performance. XRP is around 1.005, down 2.38%, and down about 14.4% over the past 7 days. DOGE is around 0.0642, down 3.11%, and down about 10.8% over the past 7 days. HYPE is holding up relatively well, at around 71.20, down 2.03% and about 8.7% over the past 7 days. Its decline is smaller than the broader market’s, but it’s no longer rising like it was last night. Among the weaker performers is GRAM, formerly known as Toncoin, at around 1.079, down 6.15%.
Prices above are from CoinGecko, as of approximately 09:57 Beijing time.
The total market cap is approximately $2.32 trillion, down about 5.8% over 24 hours. Trading volume is around $95.5 billion, and Bitcoin dominance is about 58.9%. Alternative.me's Fear & Greed Index is at 13, deep in extreme fear territory. It was 20 yesterday and 28 the day before, so sentiment has weakened another notch.
CoinDesk reported that Bitcoin fell as low as approximately $67,770, dropping below $70,000 for the first time in about 12 weeks and since August 19. ETH also hit an approximately 12-week low, reaching around $1,900 intraday. The immediate pressures remain a stronger dollar, rising Treasury yields, and markets continuing to price in a December rate hike. The U.S. Dollar Index closed Friday at approximately 103.41 (Yahoo Finance), which foreign media say is its highest level since April 2025. Nvidia officially announced a CEO transition on November 12, which has also continued to weigh on risk appetite for tech stocks and crypto.
Leverage took a heavy hit on Friday. CoinDesk, citing CoinGlass data, reported approximately $1.64 billion in liquidations over 24 hours at the time, with longs accounting for about 88.7%. BTC liquidations were approximately $916 million and ETH liquidations about $289 million. I couldn't find a similarly reliable update on the latest liquidations this morning, so for now, Friday's figures are the reference point.
For ETFs, Farside's table as of this morning shows net outflows of approximately $284.1 million from U.S. spot Bitcoin ETFs on Thursday (November 12). As of now, Friday (November 13) has recorded net outflows of approximately $41.9 million, mainly from FBTC, while IBIT and HODL are still listed as not reported. Friday's total may be updated further. There have been net outflows on multiple consecutive trading days since November 5.
U.S. stock markets are closed today and tomorrow. Cash equities won't open until 22:30 Monday night (Beijing time, corresponding to 9:30 a.m. Eastern Time). Index futures generally resume trading earlier, on Monday morning (Sunday evening in the U.S.). First, let's see how Friday's session closed.
At Friday's close (November 13), Yahoo Finance data, consistent with CNBC and the Los Angeles Times, showed the Dow at 52,347.55, up 50.46 points or 0.10%; the S&P 500 at 7,561.67, down 30.73 points or 0.40%; and the Nasdaq at 25,136.27, down 229.82 points or 0.91%. Despite weakness in tech stocks on Friday, all three major indexes posted weekly gains: the Dow was up about 2.1%, the S&P 500 about 2.5%, and the Nasdaq about 2.3% (CNBC, calculated from the November 6 close to Friday's close). It was one of the better weeks in a while, but Friday's session did not sustain the optimism seen in overnight trading.
The U.S. October PPI, released last night at 21:30 Beijing time by the Bureau of Labor Statistics (BLS), showed final demand prices up 0.3% month over month, below the prior expectation of approximately 0.4%. September's increase was 1.4% (according to the BLS's latest figures). Year over year, prices rose 6.5%, the largest increase since November 2022. Core PPI (excluding food and energy) rose 0.3% month over month, in line with expectations (CNBC). Kiplinger, Trading Economics, and others reported core PPI up approximately 5.0% year over year, its highest level since January 2023. Under another BLS measure, excluding trade services as well, prices rose 0.5% month over month and 4.9% year over year.
Markets rose initially, then pulled back. The monthly figure came in slightly below expectations, and all three major indexes opened higher. But the hotter year-over-year figure, combined with continued tech stock weakness, erased those early gains before noon. The Nasdaq and S&P closed lower, while the Dow managed to turn positive, supported by energy and consumer stocks. The 10-year Treasury yield rose to approximately 5.154% (Yahoo Finance). San Francisco Fed President Daly said Friday that inflation remains a key concern and that a rate hike may well be needed (CFO Dive). Chicago Fed President Goolsbee also told CNBC that the breadth of inflation has him concerned that progress is stalling. Media reports citing CME FedWatch said that as of Saturday, markets still assigned about a 90% probability to a 25-basis-point rate hike in December, and about 10% to a 50-basis-point hike (FXBus, GMT Eight, and others). The Fed's next policy meeting is December 8–9.
Among individual stocks, Nvidia closed Friday at $162.85, down about 2.0%, as $NVDAB continued to digest the leadership transition news. The company's official statement on November 12 said that Jensen Huang had stepped down as president, CEO, and director; CFO Colette Kress would serve as interim CEO; and the board had begun searching for a permanent successor. AMD closed at $534.06, down about 8.8%, while Cisco closed at $95.64, down about 6.2%; both were among the main drags on tech stocks. Strategy (MSTR) closed at $111.62, down about 2.4%, continuing to be weighed down by crypto prices. Microsoft closed at $523.88, up about 0.2%. After widespread outages affecting services including Teams and Outlook on Thursday, the stock was briefly weaker before Friday's open, but had largely recovered by the close. Reuters and others reported that the outage had eased by Friday, though service had not fully recovered. Energy and some consumer stocks held up relatively well: Chevron closed at $219.89, up 1.6%; Coca-Cola at $99.25, up 1.9%; and Walmart at $128.09, up 1.5%. Gold futures settled Friday at approximately $3,887.60.
The first thing to watch next week: Nvidia is scheduled to report its fiscal 2027 third-quarter results at approximately 13:20 PT on Tuesday, November 17 (05:20 Beijing time on Wednesday, November 18). The earnings call is scheduled for approximately 14:00 PT (06:00 Beijing time). This is the first earnings report since the leadership transition, so it could have a significant impact on tech stocks and risk assets. Also, according to The Verge, Yahoo Finance, and others, Anthropic plans to list on Nasdaq on Thursday, November 19, under the ticker ANT. Pricing is typically set the day before, on the 18th. CNBC previously reported an offering range of approximately $70 to $78. Before U.S. stocks open on Monday night, watch for any new official statements over the weekend and the direction of futures at the open.
A few useful Binance updates for user acquisition and participation.
The November Referral Tournament runs through 23:59 (UTC) on November 30. The leaderboard for qualified referrals offers up to 2,000 USDC, and the referral trading volume leaderboard offers up to 1,000 USDC, for a combined maximum of 3,000 USDC. Invitees must register through a referral link and, during the campaign, log in, complete at least $50 in fiat deposits / crypto purchases / P2P deposits, and trade at least $100 on Convert and/or Spot (zero-fee trading pairs and some conversions are excluded), in addition to passing risk controls. The first 8,000 new users to complete the tasks can also receive token vouchers worth 3 to 15 USDC.
The November affiliate Dual-Star event (also called Twin Star in the official English announcement) also runs through November 30, with a total prize pool of 500,000 USDC. It is exclusive to Binance Affiliates. Qualifying affiliates can receive up to 12,000 USDC, and eligible newly invited users can receive up to 10 USDC.
These two campaigns are mutually exclusive; you cannot win rewards from both. The official rules state that anyone who claims a reward in the affiliate-exclusive campaign is no longer eligible for rewards in the Referral Tournament. Before checking your ranking near the end of the month, make sure you know which campaign you're participating in.
The Binance Square Leaderboard launched on November 12. It brings together trade recaps, smart-money signals, and copy trading results, and lets you generate posters showing current rankings or your best performance over the past 7 or 30 days.
For ongoing trading competitions, check the time windows first. The first round of COLLECT's Alpha Trading Competition began at 21:00 Beijing time last night (13:00 UTC on November 13) and runs through 21:00 on November 20. The second round runs through 21:00 on November 27. The top 2,000 traders by buy volume will split 4 million COLLECT tokens (2,000 tokens each), for a prize pool worth approximately $200,000. You must click “Join” on the campaign page first; only trading volume generated afterward will count. Until 21:00 today, it's still day one of the first round, with a 2.0x early-bird multiplier. From 21:00 today until 21:00 tomorrow, the multiplier remains 2.0x.
The first round of LAB's Alpha Trading Competition is underway and runs through 21:00 on November 19. The second round runs through 21:00 on November 26. The top 2,000 traders will split 2.57 million LAB (1,285 tokens each), for a prize pool also worth approximately $200,000. The rules are similar, and you must click “Join” first. Until 21:00 today, it's still day two of the first round, and the early-bird multiplier is also 2.0x. After that, it drops to 1.8x.
The bStocks University campaign runs through 23:59 (UTC) on November 22. Participants can share 2,000 USDC based on their trading volume tier and receive a certificate. Residents of the United States, United Kingdom, European Economic Area, Hong Kong, Singapore, and certain other jurisdictions are not eligible.
Registration is open for the Button Game. The game begins once 50,000 people have signed up, with a prize pool worth $30,000 in Anthropic bStocks (ANTB) or USDC. Its timing coincides with Anthropic's planned listing next Thursday.
The Easy Loan campaign has been extended to 23:59 (UTC) on December 13. The upfront fee remains discounted by 50%, to 0.5%. HYPE is now supported for Dual Investment.
HYPEUSDC and TRXUSDC perpetual contracts will launch on Monday, November 16: HYPEUSDC at 08:30 (UTC; 16:30 Beijing time) and TRXUSDC at 08:35 (UTC; 16:35 Beijing time), with up to 75x leverage. On November 11, the official announcement corrected the launch date from November 11 to November 16, so don't mistake it for the 11th.
Officially released clarification on the share count for the pre-market IPO perpetual contract ANTHROPICUSDT: it is still quoted based on 1 billion shares for now. According to Anthropic's November 10 S-1/A-2, the figure is expected to be revised to approximately 13.116 billion shares. The contract multiplier will be announced separately before the official listing. The ticker is expected to be renamed ANTUSDT, and the official statement says existing positions will not be affected.
The official statement says it has completed replenishing the assets affected by the security incident, deploying over $6.34 billion in funds sourced from a partial drawdown of SAFU, the excess portion of the futures insurance fund, and company funds. It also pledged to replenish SAFU to approximately $1 billion. A new proof-of-reserves snapshot covering 198 tokens was published at 00:00 (UTC) on November 12. The official statement says generating the zero-knowledge proof will take approximately 40 to 50 hours, after which users can verify it themselves.
Keep an eye on these things today: COLLECT and LAB both remain at the 2.0x early-bird rate until 21:00. After 21:00, LAB drops to 1.8x, while COLLECT stays at 2.0x until 21:00 tomorrow. On Monday afternoon, HYPEUSDC and TRXUSDC perpetuals will launch at 16:30 and 16:35, respectively. U.S. stocks don't open until 22:30 on Monday night.
This is not investment advice. Please be aware of the risks. Refer to Binance's official announcements for the campaign rules and eligibility requirements.