Bitcoin continues to struggle after October’s weak performance, starting November on the back foot with a dip toward the key $107,000 support. This move signals that bears are trying to tighten their grip again. Institutional demand has cooled off Bitcoin ETFs saw net outflows of around $799 million last week, according to Farside Investors. Capriole Investments founder Charles Edwards noted that institutional buying recently dropped below Bitcoin’s daily mined supply for the first time in seven months not a great sign for the bulls.
Still, there’s a small glimmer of hope. Historically, November has been one of Bitcoin’s better months, with an average gain of over 42%, according to CoinGlass. But traders shouldn’t rely too much on history BTC has also finished November in the red four times since 2018. This means the market could swing either way, depending on how macro conditions and ETF flows play out in the coming weeks.
The broader crypto market wasn’t spared either. Digital asset investment products saw outflows of roughly $360 million last week as traders reacted to Federal Reserve Chair Jerome Powell’s cautious stance on rate cuts. Even though the Fed delivered a rate cut on Wednesday, Powell’s comments that another one in December was “not a foregone conclusion” left investors uneasy especially with limited economic data coming in due to the ongoing government shutdown.
Most of the selling pressure came from the U.S., which saw $439 million in outflows, partly offset by minor inflows in Germany and Switzerland. Bitcoin ETFs led the slide with $946 million in redemptions. But not everything was red. Solana was the week’s standout, attracting $421 million in inflows its second-biggest ever hanks to demand from new U.S. ETFs. That brought Solana’s total inflows this year to $3.3 billion. Ethereum also managed $57.6 million in inflows, though investor sentiment around it remained mixed. The recent outflows followed a strong $921 million inflow the previous week, sparked by softer-than-expected inflation data on October 24.
On the DeFi front, the decentralized exchange Balancer was hit by a major exploit, with over $116 million drained from its pools. The attack, which reportedly stemmed from a faulty access check in a smart contract, saw liquid staked Ether tokens like OSETH, WETH, and wstETH transferred to a new wallet. Balancer confirmed it’s investigating the issue, while blockchain analysts are tracking the stolen funds.
Elsewhere, Aster’s token saw a strong 30% spike on Sunday after Binance co-founder Changpeng “CZ” Zhao revealed that he personally bought over $2.5 million worth of Aster. CZ’s post on X that he’s a “buy and hold” investor triggered a wave of optimism, pushing Aster from $0.91 to $1.26 in a few hours.
Meanwhile, Ripple continues to expand its footprint, acquiring crypto custody and wallet provider Palisade. The deal will integrate Palisade’s wallet-as-a-service platform into Ripple Custody, aiming to strengthen Ripple’s offerings for banks, corporates, and fintechs. Ripple president Monica Long said corporates are “poised to drive the next wave of crypto adoption,” emphasizing the company’s push toward becoming a trusted partner for institutions. With the SEC lawsuit now behind it, Ripple has been moving fast, expanding into trading, stablecoins, and crypto treasury services.
Trader’s Outlook
The crypto market is at a crucial crossroads. Bitcoin’s failure to hold above $110,000 and its retest of $107,000 shows hesitation among big players. If BTC loses that key support, the next stop could be around $100,000 but a quick rebound above $112,000 would flip the short-term tone back to bullish. Ethereum remains in a choppy phase, holding above $3,500 for now, though a break below could trigger deeper selling. Solana continues to show relative strength and could stay in focus if broader market sentiment stabilizes. Overall, traders should expect volatility as macro uncertainty and ETF flows continue to drive sentiment. Stay nimble — markets may offer short-term bounce setups, but risk management remains key as we head deeper into November.
Bitcoin faced sharp selling pressure after failing to hold above the 20-day EMA at $110,837 on Monday. The rejection pushed BTC below the key $107,000 support — a level traders have been watching closely. A decisive close below this zone would confirm a double-top pattern, hinting that a deeper corrective phase may be underway. If that plays out, Bitcoin could slide toward the crucial psychological mark at $100,000. Bulls are expected to defend that level aggressively, as a sustained drop below it could shift the market into a bearish trend. For the bulls to regain control, BTC needs to reclaim the moving averages and build momentum above them. A push past $118,000 would likely shift sentiment back in favor of the buyers and could spark a renewed rally toward the higher end of the range. Until then, the short-term outlook remains cautious, with sellers holding a slight edge.
Ether also came under pressure, turning lower from its 20-day EMA near $3,937 and breaking below the support line of its descending channel. The downsloping moving averages and an RSI reading below 37 show that bears currently have the upper hand. If ETH closes below the channel support, it could drift toward the $3,435–$3,350 demand zone, where buyers may look to step in. However, if Ether bounces back sharply from current levels and breaks above the moving averages, it would suggest that the market has rejected the breakdown. In that case, ETH could make another run at the channel’s resistance line, keeping its broader range structure intact.
BTC is at a key inflection point — holding above $107,000 could spark a short-term rebound, while a confirmed close below that level may drag the pair toward $100,000. Bears remain in control for now, but any move back above $112,000 could tilt momentum in favor of buyers.
ETH looks weak in the short term but oversold conditions could trigger a relief bounce. Watch for a potential retest of $3,935–$4,000 if buyers step back in. If the breakdown holds, a slide toward $3,350 remains likely.
Both BTC and ETH are testing critical support zones — traders should stay nimble as volatility could pick up around these levels.
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