Bitcoin's losses were being locked in, not just charted: Glassnode had sellers on the longest streak of daily net realized losses since mid-August, taking those losses below $80K [1], while Strategy added 811 BTC [2] and options priced a wider week than usual for Bitcoin, Ether, Solana and XRP [3].
Losses realized below $80K
Glassnode reported Bitcoin trading around $78K after a slide below $80K [4]. Its on-chain read said last week brought the longest run of daily net realized losses since mid-August, with profit-taking slowing and a hold above $75K fitting the pattern of earlier loss clusters at local lows [1]. In derivatives, Glassnode described perpetual sellers pressing while longs kept funding and options traders bought protection [4]. A Bitget briefing early in the day had BTC at 78,182.50 USDT and ETH at 2,274.63 USDT [5].
Strategy, meanwhile, disclosed a purchase of 811 BTC, holdings of 849,327 BTC and a $208 million repurchase of its STRC [2].
Where the chart voices split
The short-term chart reads cited here leaned bearish. Trader Mayne said they were still short Bitcoin, had taken some profit, and pointed to $75K as a reference level [6]. XO argued that Solana losing its weekly 12/21/25 EMAs was "hardly the backdrop" for a significant swing higher, applied the same principle across much of the altcoin market, and wrote: "I'd rather exercise patience and wait for clear evidence of accumulation structures before considering meaningful long exposure." [7] A report relayed by Whale Alert had Solana below $100 amid whale selling and spot-ETF outflows [8].
Lark Davis took the longer view. On the charts, Davis described Bitcoin bouncing at the 200-day EMA, a level the on-screen chart put at 76,455.15, before getting rejected at what had been the support of its former channel [9]. In another video answering tech-industry voices who say Bitcoin has an AI problem, Davis asked "Or is this the most expensive signal of the year?" and framed the scarcity case directly: "if AI floods the world with abundance, what becomes more valuable? The thing that can't be printed." [10]
Options priced a bigger week
Coinbase Markets put the options-implied 1σ moves through 8 November at ±5.8% for BTC, ±7.7% for ETH and ±8.7% for both SOL and XRP, each above its historical median move, with XRP carrying the widest premium at 1.76× [3]. The chart's data was dated 1 November, and the post asked: "Is any of this priced too calmly?" [3]
The week those options cover is crowded. Coinbase Markets noted ISM Manufacturing PMI rose to 55.5 from 54.5, beating expectations, then pointed to the US midterm elections, JOLTS job openings on Tuesday, ISM Services on Wednesday, the Bank of England's rate decision on Thursday and Friday's jobs report, with nonfarm payrolls expected to rise by 65K from September's 29K and unemployment forecast to hold at 4.2% [11]. Coinbase Markets also had Anthropic perps down about 5% on the day, most of it in a sharp afternoon selloff [12].
The dollar layer moved in both directions
Whale Alert reported 2 billion USDT burned at the Tether Treasury at 14:58 UTC [13] and another 2 billion USDT burned there at 16:13 UTC [14]. USDC ran the other way, with the USDC Treasury minting 250 million USDC in batches including 18:12, 18:17 and 18:22 UTC [15][16][17], and again at 22:21 UTC [18]. Whale Alert also flagged a 100 million USDC burn at the USDC Treasury [19].
Binance says the hack is funded; venues keep building
Changpeng Zhao wrote that "Binance has allocated 100% of the funds, it's just 5% remaining to convert to some of the small coins taking time," quoting a post that had Binance covering 95% of its $3.3B hack losses and restoring top-10 withdrawals [20]. Binance separately said its 31 October proof-of-reserve snapshot was now fully verifiable through a zero-knowledge proof, after an earlier update said the affected assets had been replenished with its own funds and were 100% backed [21].
Venues extended derivatives and tokenized equities. Coinbase made Deribit-powered perps live for eligible traders on Coinbase for Agents, letting users connect an AI platform to research markets, create strategies and place trades within their limits [22]. Bybit offered institutional market makers a 100,000 USDT weekly reward pool on its TradFi Perpetuals [23], and KuCoin opened trading in tokenized Amazon, Coinbase, Intel, Meta and NVIDIA stocks that it described as fully collateralized 1:1 [24].
