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- Bitcoin bulls ready for breakout run
Bitcoin bulls ready for breakout run
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Bitcoin’s falling wedge sparks hopes of a breakout to $126K
Key points:
Bitcoin pulled back from its $126,000 peak to near $106,000, shaping a falling wedge setup that analysts view as a potential reversal signal for the next leg higher.
ETF inflows worth $524 million and rising stablecoin reserves suggest renewed institutional demand and improving liquidity conditions.
News - Bitcoin was trading around $105,000 as traders watched the critical $107,000 resistance zone for signs of a breakout.
Analysts noted that the cryptocurrency’s recent slide from its October high of $126,000 to a low near $106,000 has shaped a bullish falling wedge pattern. Historically, this structure precedes upward breakouts, often marking the end of a corrective phase.
A confirmed daily close above $107,000 could open the path toward $124,000–$126,000, according to technical analysts. Conversely, a drop below $100,000 could trigger a deeper correction toward $90,000.
Despite the volatility, on-chain data from CryptoQuant indicates that Binance’s significant Bitcoin withdrawals and rising stablecoin reserves may be signs of accumulation, reflecting renewed institutional interest.
Technical setup hints at a breakout - Analysts see converging downward trendlines tightening around current levels, suggesting that selling pressure is waning. The Stablecoin Supply Ratio has also dropped to bear market lows, indicating ample liquidity waiting to re-enter the market.
ETF inflows and liquidity data support optimism - U.S. spot Bitcoin ETFs recorded $524 million in net inflows this week, the highest since the October market crash. Smart money traders reportedly added $8.5 million in net long positions, reflecting improving sentiment despite lingering caution.
Caution from Wall Street: The ‘fall season’ view - Morgan Stanley strategist Denny Galindo likened the current phase to Bitcoin’s “fall season,” advising investors to secure gains before potential downside. Still, he noted that institutional adoption continues to grow as ETFs simplify access to Bitcoin.
XRP stalls below $2.50 as ETF buzz builds and whales accumulate
Key points:
XRP hovered around $2.40 as renewed whale buying worth roughly $768 million lifted sentiment, with new wallet creation spiking 226% to 13,514. The token continues to defend its $2.36 floor, though $2.50 remains the key ceiling to reclaim.
Canary’s spot XRP ETF could begin trading as early as Thursday after a Form 8-A filing, pending Nasdaq certification by 5:30 p.m. ET. Traders are watching $2.39 to $2.41 for support and $2.47 to $2.50 for confirmation.
News - XRP’s rebound attempt faded after another rejection near $2.50, keeping the token range bound around $2.40. On chain, large holders accumulated more than 320 million XRP across the past four days, while new addresses surged 226% to 13,514, reflecting improving retail participation. Even so, lighter spot volume has capped upside follow-through.
Regulatory attention has shifted to a potential first pure spot XRP ETF. Canary filed a Form 8-A, a step that signals readiness for trading and could pave the way for a Thursday launch once Nasdaq certifies the listing.
Analysts suggest a successful debut may broaden XRP’s liquidity and attract registered investment advisers who previously avoided direct exposure. Separately, multiple prospective XRP products are visible on DTCC’s website, indicating a wider pipeline.
Whale and retail activity - Whale accumulation above $2.36 suggests growing confidence, but momentum remains fragile. Source data shows price vulnerability if $2.36 gives way, with downside room toward $2.28 if buyers fail to defend support.
ETF watch: Timeline and implications - Canary’s filing under the Securities Act of 1933 points to a product backed one-to-one by spot XRP, unlike REX-Osprey’s XRPR structure. An effective listing could test whether capital rotates into altcoin ETFs beyond Bitcoin and Ether.
Key levels to monitor - Near term, the $2.39 to $2.41 band is the first line of defense. A push through $2.47 and a firm reclaim of $2.50 would improve structure. Failure to clear resistance leaves price action vulnerable, with some desks flagging a developing bearish cross risk and elevated volume on down moves.
Zcash lands a public company treasury bet amid Hayes’s call for self-custody
Key points:
Leap Therapeutics rebranded to Cypherpunk Technologies after buying 203,775.27 ZEC at an average $245 using $50 million from a $58.88 million private placement led by Winklevoss Capital; trading is set to switch to CYPH on November 13.
Arthur Hayes urged holders to withdraw ZEC from exchanges and “shield” coins, spotlighting privacy fundamentals as ZEC trades near $468 after a sharp run to the $700s this month.
News - A listed biotech is turning into a crypto treasury play. Leap Therapeutics announced a pivot to Zcash, purchasing 203,775.27 ZEC at an average of $245 and rebranding as Cypherpunk Technologies. The firm said the ZEC stack will complement its core business while building long-term shareholder value.
The raise totaled $58.88 million, led entirely by Winklevoss Capital, with $50 million already deployed into ZEC. Cypherpunk will begin trading under ticker CYPH on November 13; until then it remains LPTX.
Leadership changes accompanied the move, including Khing Oei becoming Chairman and Will McEvoy joining the board and serving as Chief Investment Officer.
ZEC’s volatility remains elevated. Prices pulled back to about $468 after peaking near $735, with open interest at a record and longs ticking higher. Some analysts flagged $490 as near-term support and $639 as an upside target if momentum returns.
Corporate treasury pivot, Winklevoss-backed - The private placement was led by Winklevoss Capital as the sole institutional participant. Company statements frame ZEC as a privacy-first alternative that lets businesses transact without revealing sensitive commercial data on public ledgers.
Privacy narrative and self-custody - Arthur Hayes told ZEC holders to move coins off exchanges and use shielded transfers. Zcash supports transparent “t-addresses” and private “z-addresses” using zk-SNARKs. Around 23% of the supply sits in shielded pools across Sprout, Sapling and Orchard, with Orchard introduced in 2022 under NU5.
Price context - ZEC rallied past $500 for the first time since 2018, briefly overtook Monero by market cap, then retraced. At recent levels near $468, it remains well below the 2016 peak but firmly back on traders’ radars.
Key points:
JPMorgan Chase launched its JPM Coin deposit token on Coinbase’s Base network, enabling institutional clients to move U.S. dollar deposits instantly, 24/7.
The rollout follows months of trials with Mastercard, Coinbase, and B2C2, with the bank planning multi-currency versions and expansion to other blockchains pending regulatory approval.
News - JPMorgan Chase has taken another major step into digital assets with the live deployment of its deposit token, JPM Coin (JPMD), on Base, Coinbase’s public Ethereum Layer-2 blockchain. The initiative allows institutional clients to send and receive dollar-denominated funds on-chain at any time, removing traditional banking delays tied to business hours.
The deposit token represents actual bank deposits and functions as a regulated liability of JPMorgan, distinguishing it from stablecoins that rely on third-party reserves. Naveen Mallela, co-head of the bank’s blockchain division Kinexys, called deposit tokens “a compelling alternative” that can also be yield-bearing, giving institutions another option for efficient capital movement.
Bridging TradFi and DeFi - The pilot phase involved Mastercard, Coinbase, and liquidity provider B2C2, testing cross-platform transactions between traditional finance and decentralized ecosystems. With the official launch, Base becomes the first public blockchain to support both JPMorgan’s regulated payment tokens and native DeFi applications, marking what analysts call “a true bridge between banks and DeFi.”
Beyond Base: The multi-chain roadmap - JPMorgan plans to expand JPM Coin access beyond institutional clients and introduce other currency tokens, including a euro-denominated version (JPME). Future deployments across additional blockchains are under regulatory review. The token will also be accepted as collateral on Coinbase, deepening integration between banking infrastructure and crypto markets.
The bigger picture - JPM Coin’s launch underscores Wall Street’s growing alignment with blockchain rails. As banks experiment with tokenized deposits, instant settlements, and on-chain liquidity, the divide between regulated finance and DeFi continues to narrow, making 24/7 banking a practical reality.
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More stories from the crypto ecosystem
Did you know?
Token-crazed inflation - As of November 2025, more than 37 million unique cryptocurrencies have been created, even though the vast majority are inactive or low quality.
Compliance tech gets real - TRM Labs recently published how its crypto AML platform is used by banks, regulators and law enforcement across 50+ countries to trace high-risk wallets, mixers, and cross-chain flows.
The UAE just completed a national digital leap - United Arab Emirates’s “Digital Dirham” CBDC pilot executed its first government-level transaction in under two minutes in November 2025 via the mBridge payment platform.
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Top 3 coins of the day
Render (RENDER)
Key points:
RENDER was last seen trading near $2.49, rising 7.3% in the past 24 hours as buyers pushed prices above the 9-day SMA, signaling a short-term shift in momentum.
The RSI hovered near 51, showing balanced conditions while trading volume increased modestly, reflecting healthy but controlled participation.
What you should know:
RENDER extended its rebound after finding support around $2.00, breaking above its 9-day simple moving average to confirm renewed bullish sentiment. The RSI stayed neutral-to-bullish at 51, implying room for additional upside before any overbought pressure emerges. Beyond the technical picture, the token benefited from renewed attention toward AI-linked projects ahead of Nvidia’s earnings, which boosted broader AI token sentiment. Meanwhile, Render’s migration to Solana continued to drive activity growth across its decentralized GPU network. Traders are now eyeing $2.25 as support and $2.60 as resistance, levels that could dictate RENDER’s next directional move if momentum persists.
Virtuals Protocol (VIRTUAL)
Key points:
VIRTUAL was trading around $1.42, posting a 6.6% gain in 24 hours as buyers kept momentum alive, though the pace appeared to be moderating.
The Squeeze Momentum Indicator continued to print green bars, while the Bollinger Bands widened slightly, with price movement nearing the upper band without breaching it.
What you should know:
VIRTUAL extended its climb as trading activity remained elevated at nearly 15 million, signaling consistent participation from bullish traders. Price action stayed close to the upper Bollinger Band, suggesting persistent upward pressure but with signs of momentum cooling. The Squeeze Momentum Indicator also maintained green bars, though their fading intensity hinted at slowing buyer strength rather than a full reversal. On the fundamental side, interest around AI-driven tokens picked up again ahead of Nvidia’s earnings, while the Luna.fun platform launch continued to attract attention within the Virtuals ecosystem. Traders are watching $1.30–$1.35 as support and $1.75 as resistance, levels likely to guide VIRTUAL’s next decisive move.
Dash (DASH)
Key points:
DASH traded near $70, rising 4.5% in 24 hours as buyers attempted to recover from last week’s steep correction.
The Parabolic SAR remained above the candles, while the MACD histogram printed longer red bars, reflecting a brief uptick in bearish momentum despite the price rebound.
What you should know:
DASH saw a modest bounce after days of sharp decline, finding short-term stability around the $65–$70 range. The Parabolic SAR continued to signal a bearish setup, though recent candles hinted at a slowing downtrend. However, the MACD histogram’s deepening red bars suggested that sellers still held the upper hand, keeping any recovery fragile for now. Trading volumes stayed relatively muted compared to early November’s surge, implying cautious market participation. Meanwhile, renewed interest in privacy-focused tokens helped support DASH sentiment, following broader rotation toward privacy assets amid regulatory headlines. For now, traders are watching whether DASH can reclaim the $80 resistance zone, which could mark a stronger shift in momentum.
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