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One crypto analyst suggests that Bitcoin long positions may "become viable" once the long-term seller supply increases again.
Bitcoin dropped by 9.7% and ether declined by 14.7% as Trump initiated a trade war with tariffs on Canadian and Mexican imports coming into effect on Tuesday. An analyst stated that Trump's stringent tariff measures have "further fueled risk-off sentiment."
President Trump's announcement regarding a U.S. Crypto Strategic Reserve sent prices soaring across the crypto industry, boosting the total industry market cap by nearly 20% since its recent lows on Friday. Cardano, XRP, Trump's memecoin, and Solana were the best performing coins over the past 24 hours; BNB rose the least out of the top 10 cryptocurrencies by market cap.
US spot bitcoin ETFs experienced a total daily net outflow of $1 billion, excluding flow data from Ark Invest’s ARKB. During their six-day streak of negative flows, these ETFs saw over $2 billion withdrawn from the products. Analysts suggested that the rebalancing of institutional investors’ positions in the ETFs might have contributed to the record-high outflows.
The sentiment in the crypto market plummeted to "Extreme Fear" following US President Donald Trump's announcement that 25% tariffs against Canada and Mexico are proceeding as planned.
Bitcoin traders are concerned about a return to the lower end of the BTC price range as market inertia allows bears to maintain control approaching the monthly close.
Bitcoin is finally exhibiting behaviour similar to stocks and gold, approaching near all-time highs as BTC price action resumes.
Bitcoin is mirroring gold's price growth path, increasing the likelihood of achieving price targets exceeding $300,000.
World Liberty Financial utilised its USDC reserves to acquire $1.4 million in MOVE and $5 million in wrapped BTC. Additionally, it staked 2,221 ETH with Lido Finance and deposited 5 million USDC into Aave’s lending protocol.
- 23:41Overview of Major Overnight Developments on November 57:00-12:00 Keywords: BTC, Upexi, Zynk, Forward Industries 1. BTC fell below $100,000 for the first time since June; 2. SOL treasury company Upexi announced an additional purchase of 88,750 SOL; 3. The US SEC's crypto treasury investigation was temporarily suspended due to the government shutdown, and subpoenas may be issued after it resumes; 4. White House: Trump has officially ended the Biden administration's crackdown on the crypto industry; 5. Zynk completed a $5 million seed round financing, with participation from an exchange and others; 6. SOL treasury company Forward Industries announced a $1 billion stock buyback plan; 7. Jupiter community voted to burn 130 million JUP in the "Litterbox," accounting for about 4% of the circulating supply.
- 23:01Ripple's USD stablecoin RLUSD surpasses $1 billion in market capitalizationJinse Finance reported that Ripple's USD stablecoin RLUSD has surpassed a market capitalization of $1 billion less than a year after its launch in December 2024, making it the tenth largest USD stablecoin. RLUSD circulates on both Ethereum and XRP Ledger, with $819 million and $203 million respectively. Ripple President Monica Long stated that the rapid growth is driven by rising institutional demand, expansion of payment networks, and several recent acquisitions. In 2025, Ripple acquired four companies, including trading broker Hidden Road (now Ripple Prime), stablecoin payment company Rail, financial technology provider GTreasury, and wallet infrastructure startup Palisade.
- 23:01Cynthia Lummis: The Crypto Market Structure Bill Is the Most Important Digital Asset Legislation in U.S. HistoryJinse Finance reported that U.S. Senator Cynthia Lummis stated that the crypto market structure-related bill is the most important digital asset legislation in U.S. history and will have a profound impact on industry development and the regulatory framework.