Top Story
US spot Bitcoin ETFs lost $201 million on November 9, their third straight day of net redemptions. BlackRock's IBIT accounted for $213.2 million of the outflows. Coinness
The prior week was worse. US spot Bitcoin ETFs lost $1.28 billion from November 2 to 6, the largest weekly outflow since late June. Year-to-date flows turned negative at about -$914 million. Yahoo Finance
Ether ETFs also posted outflows, with $184.6 million leaving on November 9, a third straight session. Coinotag
Strong US jobs data pushed the odds of a December Fed rate hike above 75%. Crypto liquidations topped $1 billion as prices fell. Crypto.news The October CPI print lands today at 8:30 a.m. ET, followed by PPI on November 13. AltcoinBuzz
Major Price Moves
Market Overview
Bitcoin ranked first at $74,622.41, up 0.62% over 24 hours, with $29.60B in volume. Ethereum ranked second at $2,117.87, up 0.32%, with $17.64B in volume. The two largest assets were steady while risk appetite shifted lower down the market.
Top Gainers
Small and mid-cap tokens led the day. Initia rose 76.92% on $107.7M in volume, followed by PolySwarm at 46.95%, Unitas at 41.80% and Pieverse at 30.14% on $146.0M in volume. Tokenized ETF products also rallied, with the Semicon Bull 3X ETF up 24.71%.
Top Losers
Bitway fell 9.68% on $4.5M in volume, the steepest decline among the top 300 by rank. Among larger assets, Monero dropped 5.76% and Zcash fell 5.56% on $3.91B in volume. Quant slipped 3.99%.
Top 20 by Market Cap
Most of the top 20 were flat to modestly higher. BNB rose 0.91%, Dogecoin gained 1.32% and Chainlink added 1.59%. XRP and Solana each rose less than half a percent. Zcash, ranked 10th, and Monero, ranked 13th, were the only major decliners in the group.
Other Key Events
Initia's Rollup pause and 77% rally
Initia said on November 9 that it was investigating an issue affecting Rollup infrastructure and had paused related Rollups. It said no user funds were affected and the L1 remained live. ChainCatcher
The price still rose sharply. CoinGlass data shows short liquidations of $526K, or 76% of the $690K total, which points to a short squeeze as the mechanical driver. CoinGlass Sources do not confirm when the Rollups resume.
Binance hack
The Binance hack is the largest crypto theft on record, at $6.3 billion. Fitch says bitcoin's reaction was more muted than in past incidents. Investment Executive Sources differ on the date, so the incident should be checked before publication.
In Brief
- Coinbase received OCC approval for a federal trust bank charter, and other crypto firms are pursuing similar charters. CryptoRank
- Coinbase and PNC Bank expanded their USDC payments partnership for corporate clients. The Block
- Polymarket launched a withdrawal address whitelist to limit losses from hacks and phishing. CoinNess
- MARA sold 40% of its bitcoin holdings to repay debt. Coinotag
- Ankr's bridge lost $304,500 in an exploit on November 9. DefiLlama
What to Watch
- November 10, 8:30 a.m. ET: October CPI release, the day's main macro catalyst. AltcoinBuzz
- November 13, 8:30 a.m. ET: PPI release. AltcoinBuzz
- $74,000 for Bitcoin: A close below this level would extend the ETF-driven pullback.
- $2,100 for Ethereum: ETH closed at $2,117.87, just above this level.
- November 15: SEC deadline on VanEck's JitoSOL fund, with no further extension. AltcoinBuzz