Bitcoin falters while CEOs sound alarm

November 04, 2025

 

Reading time: 5 minutes

Sponsored:

Earn profits through automated AI crypto trading with CenionAI

Automated trading platform CenionAI uses AI models and big-data algorithms to run 24/7 long/short, hedging, and arbitrage strategies across crypto exchanges. You pick a plan, and the system executes trades, credits profits every 24 hours. New users reportedly receive a $20 registration bonus and a daily check-in reward. Plan examples include investing $12,000 to receive $5,952 profit. The platform emphasises U.S. regulatory compliance, asset segregation, multisig wallets, and fully automated operation. This is sponsored content and not investment advice.

Wall Street turns cautious as Bitcoin falters near $100K

Key points:

  • Top U.S. CEOs warn of a 10–15% equity correction within 24 months, as stretched S&P 500 valuations hint at a late-cycle slowdown.

  • Bitcoin trades near $104,000 after losing key technical levels, with outflows, long-term holder selling, and a potential EMA Death Cross weighing on sentiment.

News - Wall Street heavyweights, including Goldman Sachs’ David Solomon, Morgan Stanley’s Ted Pick, and Citadel’s Ken Griffin, have warned that stock valuations appear “full, not cheap.” With the S&P 500 trading at 23x forward earnings, investors are bracing for a 10–15% equity correction over the next two years.

Bitcoin, meanwhile, is mirroring the cautious macro tone. The crypto market’s benchmark asset has printed its third weekly close below the 50-week SMA against the S&P 500, echoing weakness seen near prior cycle peaks.

Bitwise CEO Hunter Horsley noted that 2026’s projected bear fears may have already been “pulled forward,” suggesting 2025’s declines are part of a broader reset.

Technical breakdown deepens - At press time, Bitcoin hovered around $104,268, slipping below the $105,000 support level. The formation of a bearish head and shoulders pattern, combined with falling Chaikin Money Flow readings and a looming EMA Death Cross, points to sustained selling pressure.

Analysts warn a confirmed breakdown could push BTC toward $89,948 in the short term.

On-chain strain and market liquidations - Data from Glassnode shows recent buyers failing to reclaim their cost basis, with the 0.89 quantile ($111K) flipping to resistance.

Long-term holders have sold over 400,000 BTC this month, while $1.4 billion in leveraged positions were liquidated across exchanges as the dollar index climbed to 100.

Still, some analysts see resilience in Bitcoin’s ability to hold above $100,000 despite such pressure, framing the current phase as a normalization, not collapse.

Solana slips as leverage builds, even with strong ETF inflows

Key points:

  • SOL stays below key EMAs with bearish momentum, while futures open interest climbs to $9.17 billion, signaling a potential volatility break.

  • Dual bearish crossovers are forming, yet long-term holder net outflows have eased by 87%, keeping a rebound on the table if $155 holds.

News - Solana fell from about $205 to the $160–$170 range despite a strong debut for U.S. spot Solana ETFs. CoinShares reported $421 million in net inflows in the first week, led by Bitwise’s BSOL with $199 million and a 0.20% fee.

Grayscale’s GSOL drew $2.2 million, which carries a 0.35% fee, and converted with $102 million in assets. Even so, SOL’s weekly slide of nearly 20% outpaced declines in bitcoin and ether. Analysts cite profit-taking and weak risk appetite alongside the technical breakdown.

Leverage and crossovers - Price action remains soft across timeframes, with SOL trading under the 20, 50, 100, and 200 EMAs on lower time frames. Futures open interest has risen to $9.17 billion as of November 4, 2025, pointing to heavier positioning.

Bybit data shows only $103.9 million in long leverage versus $1.45 billion in shorts, indicating a long squeeze played a major role in the latest drop. On the daily chart, the 50-day is nearing a cross below the 100-day, and the 20-day is close to crossing under the 200-day.

Key levels and scenarios - Immediate support sits near $163–$160, then $155. The $155 area also aligns with the 61.8% Fib of the $95–$253 rally, with a deeper support zone near $129 if that fails.

On the upside, watch $175, $183, and $188 as near-term hurdles, with $180 around the 200-day SMA as a trend checkpoint. Clearing $191–$200 could trigger a short squeeze, while sustained closes above $195 and $211 would strengthen recovery odds.

Notably, holder Net Position Change improved from −10.52 million SOL (October 7) to −1.37 million SOL (November 3), hinting that longer-term wallets are not exiting aggressively.

Strategy expands Bitcoin treasury with Europe’s first Euro stock offering

Key points:

  • Strategy Inc. has launched a €100-per-share, 10% Euro-denominated preferred stock (STRE) to fund new Bitcoin acquisitions and working capital.

  • The firm now holds 641,205 BTC worth over $68 billion, reinforcing its position as the world’s largest corporate Bitcoin holder.

News - Strategy Inc., formerly MicroStrategy, has unveiled its first-ever Euro-denominated perpetual preferred stock, known as STRE, targeting institutional investors across the EU and UK.

The €100-per-share issue carries a 10% annual dividend, compounding quarterly if unpaid, up to a maximum of 18%. The proceeds will fund further Bitcoin purchases and general corporate purposes, extending the firm’s financing model beyond U.S. markets.

The preferred shares will list on the Euro MTF Luxembourg and clear through Euroclear and Clearstream, according to the company’s filing. They rank senior to other equity classes such as STRK, STRD, and common stock, but junior to debt instruments.

The issue is managed by Barclays, Morgan Stanley, Moelis, SG Americas, TD Securities, Canaccord Genuity, and StoneX Financial, underscoring the institutional support behind the offering.

Strengthening the treasury model - This initiative follows Strategy’s strong Q3 performance and a recent purchase of 397 BTC worth $45.6 million. The company continues to expand its balance sheet through equity and debt financing tied to Bitcoin accumulation, a model pioneered by founder Michael Saylor in 2020.

A bridge between finance and crypto - Analysts view STRE as a landmark move connecting traditional capital markets with Bitcoin-backed exposure for European investors.

By introducing a Euro-based instrument, Strategy is deepening its global footprint and opening a new stream of liquidity for future Bitcoin acquisitions. Saylor reaffirmed that the company has no plans for mergers or acquisitions, focusing solely on “selling digital credit, strengthening the balance sheet, and buying more Bitcoin.”

Stream Finance meltdown exposes $284M in DeFi debt loops

Key points:

  • Stream Finance froze $160 million in user deposits after a $93 million loss linked to an external fund manager triggered its stablecoin’s collapse to $0.33.

  • DeFi sleuths mapped over $284 million in cross-protocol debt tied to Stream’s assets, underscoring risks in recursive yield systems across platforms like Euler, Silo, and Morpho.

News - Stream Finance has become the latest DeFi casualty after revealing a $93 million loss from an external fund manager.

The platform halted all deposits and withdrawals, hired Perkins Coie LLP to conduct a forensic investigation, and began withdrawing liquid assets to stabilize operations. Its stablecoin, Staked Stream USD (XUSD), depegged sharply from $1 to $0.51, and later slid to $0.33, sparking panic across lending protocols.

$284 million exposure mapped - A detailed post by the research group Yields and More (YAM) traced over $284 million in outstanding loans and stablecoin liabilities connected to Stream Finance.

The analysis highlighted intertwined positions involving xUSD, xBTC, xETH, and derivative stables such as Elixir’s deUSD and Treeve’s scUSD, revealing a complex web of leverage and rehypothecation across multiple DeFi vaults.

YAM’s data pointed to TelosC with roughly $123 million in exposure and Elixir with about $68 million, or 65 % of its stablecoin reserves.

Broader fallout for DeFi - Analysts noted that Stream’s recursive yield strategy relied on stacking borrowed assets to amplify returns, an approach that may have backfired amid tightening liquidity and the recent Balancer $100 million exploit.

While no evidence of a direct hack has surfaced, the losses reignited scrutiny of opaque fund-management practices and the fragility of high-yield DeFi systems.

Stream Finance’s collapse follows a string of failures across decentralized markets, renewing calls for clearer on-chain audits and stricter transparency around leveraged yield strategies.

Interesting facts

  • In the first seven months of 2025, stablecoins processed over $4 trillion in transaction volume, marking an 83% increase compared with the same period in 2024.

  • In Japan, over the 12 months to June 2025, on-chain crypto value received leapt by 120%, outpacing larger regional peers such as India (99%) and Indonesia (103%), signaling a rapid acceleration from a lower baseline.

  • The Mastercard Global Crypto Adoption Index reports that 58% of global consumers are either holding cryptocurrency (21%) or curious about entering the space (37%) in 2025, reflecting broad latent interest beyond current owners.

Get in on the markets before tech stocks keep rising

Online stockbrokers have become the go-to way for most people to invest, especially as markets remain volatile and tech stocks keep driving headlines. With just a few taps on an app, everyday investors can trade stocks, ETFs, or even fractional shares—something that used to be limited to Wall Street pros. Check out Money’s list of top-rated online stock brokerages and start investing today!

Top 3 coins of the day

Internet Computer (ICP)

Key points:

  • ICP changed hands near $5.19, marking a 32% daily jump and one of its strongest sessions in months.

  • The Supertrend turned bullish while the EWO flipped green with its first tall bar above zero, supported by surging volume.

What you should know:

ICP rallied sharply after breaking above $4.20, extending gains through heavy buy-side activity. The Supertrend indicator switched to a buy signal around $3.14 and now trails close to $4.62 as dynamic support. The EWO turned positive for the first time since August, showing a fresh shift in momentum rather than a mature uptrend. Trading volume climbed to its highest level since mid-year, confirming conviction behind the breakout. The $5.50–$5.70 zone acts as near-term resistance, while $4.60 remains an immediate support to monitor. Beyond technicals, optimism around DFINITY’s new AI and DeFi integrations added fuel to the rally. If buyers sustain pressure above $5.50, the next leg could reinforce ICP’s recovery narrative.

Key points:

  • DASH traded at $131 after gaining over 10% within 24 hours.

  • Parabolic SAR dots stayed well below candles, while MACD momentum held firmly positive on rising trade volume.

What you should know:

Dash continued its impressive climb as strong demand for privacy tokens and a new listing on Aster DEX boosted market activity. The Parabolic SAR maintained its bullish structure, confirming trend strength after the token’s recent breakout above the $100 zone. MACD lines remained in wide bullish alignment, and the histogram extended further into positive territory. Volume remained elevated, underscoring sustained interest despite a minor cooldown from the prior peak. The $150 area is the resistance to watch, while $110 acts as key support if profit-taking sets in. Renewed appetite for privacy-focused projects and Aster’s leveraged perpetual listing provided the fundamental tailwind for the rally. A decisive close above $150 could open room toward higher continuation targets, whereas a slip below $110 may trigger short-term correction pressure.

Zcash (ZEC)

Key points:

  • ZEC was last seen trading at $412, slipping about 5% in the last 24 hours after a strong multi-week uptrend.

  • The Supertrend stayed bullish, while the DMI showed ADX near 60 with +DI around 38 and –DI near 9, confirming strong but cooling momentum.

What you should know:

Zcash experienced a mild correction following its sharp rally toward $480, with traders locking in profits. The Supertrend indicator remained in a buy phase, placing dynamic support just below the $330 level. The DMI readings highlighted a powerful trend structure, as ADX hovered close to 60, reflecting strong momentum despite a softer daily close. Volume stayed elevated relative to September, suggesting the pullback occurred amid active trading rather than fading interest. The $485 level remains immediate resistance, while $370–$330 zones act as supports to watch. Beyond chart signals, halving anticipation and recent influencer endorsements have fueled speculative interest in privacy coins like ZEC. Sustained closes above $485 would likely revive bullish pressure, whereas a dip below $370 could hint at deeper consolidation before the halving window.

Wall Street’s Morning Edge.

Investing isn’t about chasing headlines — it’s about clarity. In a world of hype and hot takes, The Daily Upside delivers real value: sharp, trustworthy insights on markets, business, and the economy, written by former bankers and seasoned financial journalists.

That’s why over 1 million investors — from Wall Street pros to Main Street portfolio managers — start their day with The Daily Upside.

Invest better. Read The Daily Upside.

How was today's newsletter?

Login or Subscribe to participate in polls.