Mid-November Market Recap: Bitcoin Holds $100K, ETH Regains Balance, TON Steps Into Payments
We’re now transferring deeper into November, and it lastly feels just like the market’s discovered some form of footing — not a assured one, extra just like the wobbly stance you are taking after slipping on ice however one way or the other not falling. Bitcoin defended the large spherical $100K stage, Ether stopped in need of breaking underneath $3K, and TON clawed its approach off the ground close to $1.8. Prices are nudging increased as I write, however the scars from the October–early-November tumble are nonetheless seen in all places. The actual query is whether or not this bounce is the beginning of one thing, or simply a type of drained bear-market reflexes that lure everybody again in earlier than fading once more.
Bitcoin (BTC)
BTC spent a lot of the week hanging out in that murky $100K zone — a stage that’s now change into each a psychological and technical anchor. We dipped a bit underneath, poked a bit over, and by Friday the chart began to look much less like a crash and extra like consolidation. It’s humorous how rapidly sentiment shifts: early within the week, feeds have been filled with death-cross discuss and “new bear market confirmed” charts; by the weekend, the temper was “perhaps that was the underside.”
BTC/USD Chart, Coinbase. Source: TradingView
Part of the calm got here from ETF flows lastly turning inexperienced once more.
Spot Bitcoin ETF flows from Oct. 29 to Thursday. Source: Farside Investors
After virtually per week of outflows, the market acquired that $240 million influx day — not big, for positive, however nonetheless symbolically necessary. It reminded everybody that establishments hadn’t completely left the chat.
Pair that with JPMorgan’s word saying BTC appears “low cost subsequent to gold,” and you can sense merchants collectively unclenching a bit. Still, underneath the floor, there’s clearly indicators of fatigue throughout the board: miner margins are squeezed, liquidity’s thinner, whales are reportedly trimming. So it’s not precisely risk-on euphoria — extra like a fragile truce between consumers and sellers.
The distinction between BTC costs and gold adjusted for volatility. Source: JP Morgan
If you compelled a name: I’d say Bitcoin’s in all probability bottoming, however nonetheless inside its post-crash field. The $105–109K space is the road within the sand — flip that, and folks will begin believing once more. Lose $100K decisively, and the entire “accumulation part” narrative evaporates in a single day.
Ethereum (ETH)
ETH mainly mirrored Bitcoin this week, because it all the time does when the macro tone dominates. It depraved all the way down to round $3K early on, scared a number of leverage junkies out of their positions, then slowly crawled again towards $3.5K. Not a foul restoration, however while you zoom out, you may see how a lot room there may be overhead — all these untapped wicks from October nonetheless ready to be revisited.
ETH/USD Chart, Coinbase. Source: TradingView
What’s been attention-grabbing is the break up in sentiment: derivatives knowledge exhibits merchants nonetheless hesitant, whereas social chatter has quietly flipped bullish once more.
ETH month-to-month futures annualized premium. Source: laevitas.ch
A couple of analysts referred to as it a “huge bear entice,” arguing that ETH’s fundamentals haven’t modified and that this complete dip was largely leveraged positioning unwinding.
You can form of see their level — layer-2 throughput is hitting report highs whereas DeFi volumes are stabilizing. Also, he Ethereum Foundation’s new funding mannequin provides a way of construction that’s been lacking for some time.
Source: Anthony Sassano
But with spot ETH ETFs seeing mushy demand and BTC nonetheless calling the photographs, any ETH rally feels conditional. If Bitcoin holds its footing, ETH has a clear shot at $3.8–3.9K; if not, we’re proper again at $3.1K earlier than you may say “funding flip.”
Toncoin (TON)
Toncoin
TON’s week was surprisingly vigorous beneath the floor. After tagging lows close to $1.8, it slowly labored its approach again above $2.1, and this time there was precise information stream behind the transfer.
TON/USD Chart. Source: TradingView
AlphaTON Capital doubled down on its guess, scooping up one other 300,000 TON and, extra importantly, asserting a three way partnership with PagoPay and ALT5 Sigma to launch a TON-powered Mastercard. That’s in all probability the one most price-impactful headline of the week for the ecosystem, because it’s a real-world use case that lets holders really spend their tokens straight. It provides TON one thing most networks solely speak about: tangible funds integration.
Source: Alphaton Capital
On high of that, validators set November 12 because the vote date for an improve introducing a regulated stablecoin, reportedly USDC, which may anchor liquidity and open doorways to new on-chain finance use instances. Even Telegram added gasoline with beta-testing present auctions contained in the app, making digital collectibles tradeable in a extra market-driven approach — once more, refined reinforcement of TON’s rising function inside Telegram’s ecosystem.
Source: TON Status
All in, that’s a fairly constructive set of catalysts for a coin that’s been doing little greater than mirroring Bitcoin’s temper these days. A push by way of $2.2 would begin wanting like real follow-through, whereas underneath $1.95, it’s again to sq. one.
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