Bitcoin dropped to an intraday low of $85,694 after China's central bank issued a renewed warning against cryptocurrency activities, according to CoinGecko data. The People's Bank of China stated that crypto-related operations remain illegal and criticized stablecoins for failing to meet anti-money laundering standards.

XRP futures open interest has dropped from 1.7 billion XRP in early October to 0.7 billion XRP, a decline of nearly 60%, data show. The funding rate for perpetual contracts fell from 0.01% to 0.001% over the same period, reflecting reduced bullish conviction among traders.

South Korean cryptocurrency exchange Upbit confirmed unauthorized transfers of approximately $37 million from its Solana network wallet on May 15, 2025. The breach affected multiple tokens including SOL, USDC, RENDER, PYTH, RAY, JUP, JTO, ORCA, BONK, MEW, and MOODENG. The incident marks the exchange's largest security compromise since a 2019 breach involving $50 million in Ethereum assets.

Former BitMEX CEO Arthur Hayes said Bitcoin may be approaching a market bottom following this week's sharp decline. Hayes advised traders to wait for further stock market weakness before entering positions. He linked the cryptocurrency's trajectory to U.S. dollar liquidity conditions.

Bitwise will launch its spot XRP exchange-traded fund on the New York Stock Exchange on November 20, 2025, trading under the ticker "XRP." The product carries a 0.34% management fee, waived for the first month on initial assets up to $500 million. The firm cited XRP Ledger's 13-year operational history and XRP's market capitalization exceeding $125 billion as key factors supporting the launch.

Mike McGlone, chief commodity strategist at Bloomberg Intelligence, has outlined a scenario in which Bitcoin could fall to $10,000. He draws comparisons to his 2018 forecast, when the cryptocurrency traded near that level before dropping to $3,000. McGlone expects rising market volatility and suggests Bitcoin's downturn may affect broader equity markets.

Data show 58.5% of XRP supply remains profitable, marking the lowest level since November 2024. Despite XRP trading at $2.15—four times higher than the $0.53 price seen in November 2024—approximately 26.5 billion XRP tokens are currently held at a loss by investors who purchased at higher price points.

Strategy, formerly MicroStrategy, purchased 8,178 Bitcoin for $835.6 million at an average price of $102,171 per coin. The Virginia-based firm now holds 649,870 BTC with a total acquisition cost of $48.37 billion, averaging $74,433 per Bitcoin.

The Bitcoin Fear & Greed Index dropped to 10, its lowest level since February, indicating extreme panic among market participants. Bitcoin declined 6.7% over the past week, falling below $100,000 and trading beneath both its 7-day and 30-day moving averages, according to 10x Research.