Crypto is broadly lower, with BTC down 3.6% at $71,339, ETH down 2.1% at $2,016, SOL down 2.3% at $81.61 and XRP down 1.6% at $1.04. US spot bitcoin ETFs saw net outflows of $95.0M on Nov 10 and $299.9M on Nov 11, extending the negative tone.
BTC-3.8%$71,212
ETH-2.3%$2,013
SOL-2.4%$81.53
XRP-1.6%$1.04
BTC ETFsUS session-$300Mnet flow, Nov 11
News mood
Leaning bearish21% bullish · 42% bearish
What's happening
The Binance hack continues to weigh on sentiment, with BNB dropping 7.1% and the exchange pledging to cover user losses 1, while North Korean hackers laundered funds from the $6.3 billion breach using memecoins 2. Bitcoin plunged toward $74,000 as a wave of forced selling swept through markets 3, and BlackRock sold $405M of Bitcoin as IBIT redemptions piled up 4. Investors are also waiting on the US inflation report with prices under pressure 5.
Bitcoin fell below $74,000 as crypto liquidations surged in a wave of forced selling 3, and BlackRock sold $405M of Bitcoin as IBIT redemptions piled up 4, with the market bracing for the US CPI print 5.
Stablecoin supply dropped $14.2 billion in the largest contraction since the 2022 bear market 7, XRP fell toward $1.16 after losing a key support zone 8, while Grayscale pledged $1 million in a Zcash ETF campaign 9.
Crypto stocks fell, with MSTR down 6.5% ahead of MSCI's final November review where billions in forced selling could hang on the outcome 10, though Jane Street lifted its Strategy stake 54% to 4.1 million shares 11.
India's Enforcement Directorate raided crypto exchanges CoinDCX and Delta over alleged illegal cross-border trades 12, while South Korea will permit crypto withdrawal freezes during hacking threats 13.
Securitize and Ethena launched a $100 million liquidity facility letting eligible BlackRock BUIDL holders swap into USDC and other stablecoins around the clock 14.
The DOJ seized infrastructure tied to North Korea's $400M FaceStealer crypto scheme 15, Operation TorNado netted $234 million in cash and crypto with 354 arrests 16, and Trezor found hardware implants in Safe 5s sold by CryptoBilis and cut its reseller network by 80% 17.