Bitcoin dropped below $94,000 on Friday, reaching its lowest level since early May. Market technician Axel Adler Jr. presented a valuation framework identifying $87,000 and $74,000 as critical downside zones, both now considered achievable based on current on-chain metrics. The decline has erased over $1 trillion from total cryptocurrency market capitalization since October.

Ethereum saw 228,000 ETH options contracts valued at approximately $730 million expire with a maximum pain point at $3,475, Greeks.live data show. The expiry marks the cryptocurrency's third consecutive monthly decline as implied volatility for major contracts surged above 70%. The event coincided with $3.95 billion in Bitcoin options also reaching maturity, pushing both assets lower and shifting market sentiment to bearish territory.

The Canary XRP ETF (XRPC) recorded approximately $245 million in net inflows and over $58.5 million in trading volume during its first session on November 13. The launch surpassed Bitwise's Solana fund (BSOL) to become the year's largest ETF debut by inflows. Analyst Eric Balchunas noted that XRPC traded $26 million within its first 30 minutes, exceeding his $17 million projection.

Bitcoin remains above $100,000 as the Exchange Supply Ratio for stablecoins hits 0.457, the highest level in 2025, according to CryptoQuant data cited by XWIN Research Japan. The U.S. Dollar Index has declined approximately 8% year-to-date, with a correlation coefficient of -0.52 against Bitcoin indicating an inverse relationship. Total stablecoin market capitalization across major issuers approaches $260 billion.

Long-term Bitcoin holders have sold nearly 300,000 BTC valued at approximately $33 billion since July 2025, data show. The distribution has been primarily absorbed by exchange-traded funds and corporate treasuries. This represents a significant structural shift in Bitcoin ownership patterns, with institutional buyers replacing individual long-term holders.

The U.S. Treasury and Internal Revenue Service issued Revenue Procedure 2025-31 on November 10, enabling exchange-traded products holding digital assets to stake and distribute rewards without creating immediate tax liabilities for investors. Treasury Secretary Scott Bessent said the guidance aims to enhance investor benefits and support U.S. leadership in blockchain innovation. The safe harbor requires ETPs to meet specific operational criteria, including SEC approval and use of third-party custodians.

Bitcoin approached $110,000 over the weekend but failed to sustain the level despite favorable catalysts including Trump's proposed $2,000 tariff dividend and progress toward resolving the government shutdown. Analysis identifies a resistance zone between $107,000 and $118,000, driven by increased selling from long-term holders, macroeconomic headwinds, and weakening conviction that positive headlines have been unable to overcome.

Bitcoin climbed above $106,000 in early Monday trading after a volatile weekend that forced leveraged traders to reposition. The move marks the third sharp swing in under 48 hours, driven by speculation over proposed economic stimulus and shifting liquidity on major exchanges. Exchange data shows 7-day realized volatility reached 0.410, significantly above the 30-day measure of 0.360, indicating rapid trader repositioning without fundamental trend changes.

Ripple announced a collaboration with Mastercard, WebBank, and Gemini to test RLUSD stablecoin settlements on the XRP Ledger. The initiative aims to enable blockchain-based payments between Mastercard and WebBank using the regulated stablecoin. Initial onboarding is planned for the coming months, pending regulatory approval.