Macro Overview
- US ADP Non-Farm Employment Data: The US ADP Non-Farm Employment Change came in higher than expected at 42K vs 32K, indicating a stronger job market. This reduces the likelihood of aggressive rate cuts, making it bearish for the crypto market in the short term.
- US ISM Services PMI: The US ISM Services PMI came in at 52.4 vs expected 50.7, showing stronger-than-expected economic activity. This reduces the chances of faster monetary easing, making it bearish for crypto markets in the near term.
Crypto Markets Overview
- Market Movement: This week, the crypto market experienced a -2.75% fall, bringing the total market capitalization to $3.49 trillion. Notably, BTC saw a fall of -3.16% and ETH saw a fall of -4.60%. Bitcoin’s dominance stands at 60.07%, while Ethereum’s holds at 12.28%
- Google Finance to Integrate Polymarket and Kalshi Prediction Data in Search Results: Google Finance is set to display prediction market data from Polymarket and Kalshi directly in search results over the coming weeks, beginning with Labs users. The new feature will let users view real-time market probabilities and historical trends for upcoming events, tapping into “the wisdom of the crowds.” Polymarket, recently valued at $9 billion after ICE’s investment, and Kalshi, valued at $5 billion, are the two leading prediction platforms seeing record activity as mainstream adoption accelerates.
- Michael Saylor’s Strategy Adds $50M in Bitcoin, Total Holdings Now 641,692 BTC: Michael Saylor’s bitcoin treasury firm Strategy (formerly MicroStrategy) has added 487 BTC worth nearly $50 million between Nov. 3 and Nov. 9 at an average price of $102,557 per bitcoin, according to an SEC filing. This brings the company’s total holdings to 641,692 BTC, valued at around $68 billion — over 3% of Bitcoin’s total supply. Purchased at an average cost of $74,079, Strategy currently sits on roughly $20.5 billion in unrealized gains. The latest buy, the firm’s largest in six weeks, was funded through proceeds from its perpetual preferred stock offerings.
- UNI Soars 50% as Uniswap Proposes Fee Switch Activation: Uniswap’s UNI token surged nearly 50% to $10 after Uniswap Labs and the Uniswap Foundation jointly proposed activating the long-awaited protocol fee switch. The “UNIfication” proposal, co-authored by founder Hayden Adams and others, seeks to introduce a token burn mechanism and reduce UNI supply while redirecting a portion of trading fees to the protocol or token holders. The move marks a major step toward aligning Uniswap’s governance, revenue, and token economics.
- Zcash Reclaims Top-20 Spot as Market Cap Surges Past $10B: Zcash has jumped past Hyperliquid to re-enter the top 20 cryptocurrencies, reaching a $10 billion market cap after soaring nearly 750% since October. Arthur Hayes noted that ZEC is now the second-largest holding in Maelstrom’s portfolio, behind only Bitcoin. The surge highlights renewed investor interest in privacy coins and Zcash’s growing role in the broader crypto landscape.
- SUI Group Partners with Bluefin for Strategic Lending on Sui Blockchain: SUI Group Holdings has entered a strategic partnership with decentralized exchange Bluefin to strengthen lending activity on the Sui blockchain. Under the deal, SUI Group will lend 2 million SUI to Bluefin in exchange for a 5% revenue share, payable in SUI — a move the firm says could yield higher returns than staking. The collaboration aims to connect traditional finance players like hedge funds and market makers with on-chain trading and lending products, marking another step in bridging institutional capital with DeFi innovation.
“Big Picture: Upcoming Weeks’ Key Economic Events”
| DATE | TIME | EVENT | USUAL EFFECT |
| Nov-13 | Tentative | US CPI y/y | Actual’ less than ‘Forecast’ is good for crypto |
| Nov-14 | Tentative | US PPI m/m | Actual’ less than ‘Forecast’ is good for crypto |
Bitcoin Technical Analysis
Summary:
- The current sentiment around BTC is Sideways to Bearish.
- BTC remained bearish last week, as mentioned in our previous weekly report. The macro data also came in negative, adding pressure to the market. Current price action indicates a sideways to bearish trend in the coming days. The 200 EMA (Daily) remains a key level to watch — with BTC trading below it for now. A reclaim above this level could signal a potential shift back toward a positive trend.
- Key support levels to consider are around $100,700 and $95,000. On the upside, resistance level is at $107,400 and $117,000
- It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
- For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavours.
Ethereum Technical Analysis
Summary:
- The current sentiment around ETH appears Sideways to Bearish.
- ETH also remained bearish last week and continued to underperform BTC. The price action is currently choppy and trading below the 200 EMA (Daily), which signals short-term weakness. With BTC dominance rising, ETH is likely to remain under pressure and could see further downside or sideways movement in the near term.
- Significant support levels include $3400 and $3225, while resistance level to watch is at around $3870 and $4250.
- These levels play a crucial role in determining potential price movements. It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent
Solana Technical Analysis
Summary:
- The current sentiment around SOL is Sideways to Bearish.
- SOL also appears choppy with weak price action. As BTC dominance continues to rise, SOL is likely to underperform in the coming days, showing signs of sideways to bearish movement in the short term.
- Key support levels to consider are around $156 and $141. On the upside, resistance level is at $178 and $205.
- It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
- For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavours.
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