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.

Michael Saylor publicly rejected claims that Strategy divested 47,000 Bitcoin. Speculation emerged after on-chain data showed wallet movements, but Saylor clarified no sale occurred. Reports on Friday alleged the holdings dropped from approximately 484,000 BTC to 437,000 BTC, according to data from Arkham.

Canary Capital's spot XRP exchange-traded fund recorded $58 million in trading volume on its first day, the highest ETF debut in 2025. The product, trading under ticker XRPC, provides U.S. investors with direct exposure to XRP without holding the tokens. XRP fell 8% to $2.30 in the 24 hours after the launch.

Bitcoin reached an intraday low of $98,081 on Monday, its lowest level since early May, pushing the cryptocurrency's market capitalization below $2 trillion. Data show approximately $400 million in crypto positions were liquidated over the past 24 hours. Long positions comprised the majority of losses, marking the second time this month Bitcoin has fallen below $100,000.