Overview
- Bitcoin jumped to about $106,600 late Sunday with volume surging before settling above $103,000, while roughly $360 million in crypto positions were liquidated over 24 hours.
- Liquidity signals improved as the SOFR–EFFR spread compressed to ~0.05 and Standing Repo Facility use fell back to zero, with the dollar index rally stalling at resistance.
- U.S. spot bitcoin ETFs recorded roughly $240 million of net inflows on Nov. 7 after a string of outflow days, led by products from BlackRock, Fidelity and ARK.
- XRP, down about 20% over the month, rallied roughly 9% to near $2.44 as futures open interest rose, though analysts remain split with some calling for a retest near $2.05 and others eyeing upside if institutional catalysts land.
- Strategists caution the correction may not be finished, flagging $100,000 as pivotal for BTC with near-term ranges around $98,900–$104,000 and some on-chain models pointing to potential dips toward $95,000 if selling resumes.