Risk Assets Lose Appeal: Crypto Daybook Americas

By Francisco Rodrigues (All times ET unless indicated otherwise)

Bitcoin BTC $ 100,135.10 and other major cryptocurrencies fell in the last 24 hours with the CoinDesk 20 (CD20) index retreating 2.17%, caught in the pullback that has gripped global markets this week.

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The broader retreat began with a sell-off in tech-heavy equity indices like the Nasdaq 100, which is down 3.4% this week. According to a report from Citi, bitcoin’s drop below its 55-day moving average is often an early warning sign that risk appetite in equity markets is starting to fade.

Historically, when bitcoin holds above that threshold, tech stocks tend to perform better, Citi said. The recent crypto drop is largely due to tighter liquidity conditions.

The U.S. Treasury’s recent cash rebuild and a drop in bank reserves, estimated around $500 billion since July, have made risk assets less attractive.

While Treasury balances are nearing a point where tightening could pause, according to the report, the market hasn’t yet seen meaningful signs of a turnaround.

Meanwhile, AI-related stocks slumped as investors question evaluations and aggressive spending on data centers. That skepticism has spilled into crypto, weighing on the bitcoin price.

Jasper de Maere, an OTC strategist at Wintermute, said bitcoin options positioning remains concentrated between $102,000 and $105,000, with limited upside unless volatility picks up.

Ether options flows are anchored in the $3,000–$3,400 range, with traders using options strategies that favor protection rather than bullish bets. Stay alert!

Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today

What to Watch

For a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

Crypto Nothing scheduled.

Macro Nov. 7, 7 a.m.: Federal Reserve Vice Chair Philip N. Jefferson is giving a speech on "AI and the Economy." Watch live. Nov. 7, 8 a.m.: Brazil Sept. PPI YoY (Prev. 0.48%), MoM (Prev. -0.2%). Nov. 7, 8 a.m.: Mexico Oct. inflation rate. Headline YoY Est. 3.56%, MoM Est. 0.36%. Core YoY Est. 4.27%, MoM Est. 0.28%. Nov. 7, 8:30 a.m.: Canada Oct. Unemployment Rate Est. 7.1%. Nov. 7, 11 a.m.: Michigan Consumer Sentiment Nov. (Preliminary) Est. 53.2. Nov. 7, 3 p.m.: Federal Reserve Governor Stephen I. Miran is delivering a speech on “Stablecoins and Monetary Policy.” Watch live.

Earnings (Estimates based on FactSet data) Nothing scheduled.

(Estimates based on FactSet data)

Token Events

For a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

Governance votes & calls Lido DAO is voting to cut its LEGO grants budget to $250k and transfer its contributor TRP to the Lido Labs Foundation, which will re-allocate the remaining 6.99M LDO under new 2-year vesting terms. Voting ends Nov. 7

Unlocks No major unlocks.

Token Launches Nov. 7: Aria Protocol (ARIAIP) to be listed on Binance, MEXC, and others. Nov. 7: SAPIEN $ 0.3197



Conferences

For a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

Day 5 of 5: Hong Kong FinTech Week

Market Movements

BTC is down 0.16% from 4 p.m. ET Thursday at $100,913.00 (24hrs: -2.64%)

ETH is down 0.73% at $3,300.94 (24hrs: -3.71%)

CoinDesk 20 is unchanged at 3,197.23 (24hrs: -2.74%)

Ether CESR Composite Staking Rate is down 12 bps at 2.94%

BTC funding rate is at 0.0055% (6.0148% annualized) on Binance

DXY is unchanged at 99.76

Gold futures are up 0.57% at $4,013.70

Silver futures are up 1.44% at $48.64

Nikkei 225 closed down 1.19% at 50,276.37

Hang Seng closed down 0.92% at 26,241.83

FTSE is down 0.54% at 9,682.80

Euro Stoxx 50 is down 0.49% at 5,583.84

DJIA closed on Thursday down 0.84% at 46,912.30

S&P 500 closed down 1.12% at 6,720.32

Nasdaq Composite closed down 1.9% at 23,053.99

S&P/TSX Composite closed down 0.78% at 29,868.59

S&P 40 Latin America closed down 0.15% at 3,050.45

U.S. 10-Year Treasury rate is up 1.3 bps at 4.106%

E-mini S&P 500 futures are down 0.42% at 6,719.00

E-mini Nasdaq-100 futures are down 0.56% at 25,102.00

E-mini Dow Jones Industrial Average Index are down 0.33% at 46,874.00

Bitcoin Stats

BTC Dominance: 60.45% (-0.15%)

Ether to bitcoin ratio: 0.03233 (-1.13%)

Hashrate (seven-day moving average): 1,091 EH/s

Hashprice (spot): $40.64

Total Fees: 3.33 BTC / $340,917

CME Futures Open Interest: 135,765 BTC

BTC priced in gold: 23.7 oz

BTC vs gold market cap: 6.69%

Technical Analysis

The Altcoin Market Cap (Excluding Top 10) / BTC Ratio is testing weekly support (around $0.113 - $0.116).

If bitcoin confirms a weekly close below the critical $107,000 support, as expected, this alt/BTC support level is also likely to be broken in the short term, signaling a flow back to BTC and more pain for the altcoin market.

Crypto Equities

Coinbase Global (COIN): closed on Thursday at $295.22 (-7.54%), -0.6% at $297

Circle Internet (CRCL): closed at $100.01 (-11.52%), +0.69% at $100.70

Galaxy Digital (GLXY): closed at $30.38 (-3.37%), +0.39% at $30.50

Bullish (BLSH): closed at $44.59 (-7.72%), -0.31% at $44.45

MARA Holdings (MARA): closed at $15.96 (-6.83%), -0.5% at $15.88

Riot Platforms (RIOT): closed at $17.34 (-8.59%), -0.58% at $17.24

Core Scientific (CORZ): closed at $20.59 (-5.55%)

CleanSpark (CLSK): closed at $15.4 (-7.12%), +0.13% at $15.42

CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $56.55 (-9.05%), +0.8% at $57

Exodus Movement (EXOD): closed at $21.45 (-7.7%), +9.14% at $23.41

Crypto Treasury Companies

Strategy (MSTR): closed at $237.2 (-6.98%), -0.54% at $235.91

Semler Scientific (SMLR): closed at $27.42 (-4.59%)

SharpLink Gaming (SBET): closed at $11.17 (-7.91%), -0.18% at $11.15

Upexi (UPXI): closed at $3.31 (-9.93%), +2.42% at $3.39

Lite Strategy (LITS): closed at $1.84 (-0.54%)

ETF Flows

Spot BTC ETFs

Daily net flows: $239.9 million

Cumulative net flows: $60.5 billion

Total BTC holdings ~1.34 million

Spot ETH ETFs

Daily net flows: $12.5 million

Cumulative net flows: $13.93 billion

Total ETH holdings ~6.57 million

Source: Farside Investors

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