Crypto Industry News & Market Trends

Bitcoin Price Crashes Below $69K: Is The Bottom In？

In Bitcoin news on Friday, November 13, the BTC USD price fell as low as $67,568 on Binance as a wave of forced selling wiped out leveraged bets on a rebound. It was the cryptocurrencys lowest price since August 19.　　Bitcoin trades at $68,772, down 6.7% in 24 hours and 9.1% in a week. Ether lost 5.5% and Solana 3.4% on the day.　　BREAKING: Bitcoin falls below $69,000 and ETH nears $1,900 as selling pressure accelerates in crypto.　　Crypto markets have now lost -$150 billion in 48 hours. pic.twitter.com/29QW0khxOh　　— The Kobeissi Letter (@KobeissiLetter) November 13, 2026　　Most of the damage came from liquidations, when an exchange closes a leveraged trade by force once the traders collateral runs out. CoinGlass data cited by several outlets put the 24-hour total at about $1.4 billion, close to 90% of it from longs, the bets that prices would rise. Those forced sales pushed Bitcoin through $70,000 in about two hours overnight.　　The mood has flipped with it. The Crypto Fear & Greed Index dropped from 28 to 20 on Friday, its first Extreme Fear reading since July.　　In Bitcoin news this week, the question is no longer whether the market is scared. It is whether Extreme Fear means the bottom

12 hours agoIndustry

Why Is Bitcoin Crashing？ 5 Pressures That Pushed BTC Below $69,000

Bitcoin price fell below $69,000 for the first time since mid-August, as five separate pressures landed in the same week. The drop has pushed Bitcoin (BTC) onto its 200-week average, the line that anchored its summer recovery.　　No single trigger explains the speed of the move. Leverage did, and a weekly close below the average could expose BTC holders to a much deeper retest.　　1. Fed Rate-Hike Bets Are Back on the Table　　Hotter-than-expected October inflation data has flipped the rate debate firmly toward tightening.　　Traders now see no chance of the Federal Reserve (Fed) holding or cutting rates in December, according to CME FedWatch data.　　Sponsored　　Sponsored　　Fed funds futures assign an 88.7% probability to a 25 basis point hike at the December 9 meeting. That would lift the target range from 3.75%–4% to 4%–4.25%.　　The remaining 11.3% points to a larger 50 basis point move, taking the range to 4.25%–4.5%.　　CME FedWatch target rate probabilities for the December 9 Fed meeting, Source: CME FedWatch　　Fed Governor Christopher Waller has also said he would back a 25 basis point increase at the December meeting.　　Historically, Bitcoin has struggled when borrowing costs climb, since tighter money pulls capital toward safer yields.　　2. Strategy Is Losing Its MSCI Index Spot　　MSCI will remove Strategy,

12 hours agoIndustry

Crypto Exchange Gemini Shrank in Q3. So Why Did Its Stock Rise？

Gemini Space Station (GEMI), parent of the Gemini crypto exchange, reported third-quarter revenue of $40.9 million on November 12. That was 19% lower than a year earlier, as spot trading volume fell 73%.　　Gemini stock still climbed 3.05% to $2.70 in after-hours trading on Thursday. The same report showed a smaller loss than analysts had forecast.　　Sponsored　　Sponsored　　Exchange Revenue Nearly Halved as Retail Traders Pulled Back　　Trading drove the revenue decline, while services revenue grew 7%. Exchange revenue fell 47% year over year to $13.4 million. The company tied the drop mainly to lower retail trading activity.　　Platform volume came to $4.5 billion, down from $16.4 billion a year earlier. Quarter over quarter, however, exchange revenue rose 7%, and spot volume rose 18%.　　Gemini said institutional Zcash (ZEC) activity and affiliated market-making supported the volume gain.　　Credit card revenue jumped 82% year over year to $15.5 million. That now exceeds exchange revenue. However, card charge-offs rose to $11.5 million, from $3.4 million.　　Gemini tied most of the increase to accounts linked to a first-quarter fraud event. Non-fraud delinquencies of 30 days or more edged up to 3.4% from 3.3% in Q2.　　Follow us on X to get the latest news as it happens　　Sponsored　　Sponsored　　Gemini Cut Costs Faster Than Its Revenue

12 hours agoIndustry

Jensen Huang resigns as Nvidia CEO, exits board; shares plunge

Nvidia co-founder Jensen Huang resigned as president and CEO and stepped down from the companys board on Thursday, effective immediately. The board named Chief Financial Officer Colette Kress interim CEO.　　Kress will retain her role as CFO while Nvidia‘s board considers internal and external candidates for the permanent CEO role. The board also appointed Harvey C. Jones its first chair and said it expects Nvidia’s operations to proceed without interruption.　　Nvidia shares fell more than 13% shortly after the US market opened on Thursday, trading at $151.00 as of 2:31 p.m. UTC, according to Yahoo Finance. Bitcoin (BTC) fell alongside Nvidia shares, dropping as much as 3.5% to a multimonth low.　　The shares later pared losses to trade at $165 at 4:24 p.m. UTC, down 5% on the day. The stock was down more than 26% over the previous month.　　Nvidia shares declined sharply over the past month. Source: Yahoo Finance　　Kress has served as Nvidias CFO since September 2013 and previously held finance positions at Cisco and Microsoft.　　Nvidia is scheduled to report its fiscal 2027 third-quarter financial results on Nov. 17.　　Huangs resignation follows foreign intelligence investigation　　Huang‘s departure comes just four days after Nvidia’s board announced an independent investigation amid reports that the companys co-founder

12 hours agoIndustry

Jane Street boosts Fidelity Bitcoin ETF holdings nearly 8x, trims IBIT

Jane Street‘s share count in Fidelity’s spot Bitcoin exchange-traded fund (ETF) rose nearly eightfold in the third quarter, while its holdings in BlackRocks fund fell 19%.　　The trading giant ended September with 7.01 million shares of Fidelity Wise Origin Bitcoin Fund (FBTC0, up from about 887,000 at the end of June. The position was worth $509 million on Sept. 30, according to its second-quarter and third-quarter filings.　　Jane Street‘s holdings in BlackRock’s iShares Bitcoin Trust ETF (IBIT) fell to 20.22 million shares from 24.88 million. A higher share price lifted the reported value of its stake to $957 million from $828 million.　　Jane Street was the largest reported institutional holder of BlackRock‘s Bitcoin ETF at the end of June after boosting its share count by 324% in Q2, according to 13F Pro. IBIT is the world’s largest spot Bitcoin ETF with $56 billion in net assets as of Thursday.　　The firm also added nearly 9 million shares (about $249 million) of the ARK 21Shares Bitcoin ETF (ARKB), while more than doubling its holdings in BlackRocks iShares Ethereum Trust ETF (ETHA) by 7.83 million shares (about $158 million).　　JPMorgan adds IBIT shares as Laurore cuts stake　　JPMorgan Chase increased its IBIT holdings by 9.6% in the third

12 hours agoIndustry

Microsoft Outage Hands Fax Machines a Comeback

A global Microsoft outage has pushed parts of Japans financial sector back to an old tool. Market participants switched to fax after Outlook email, used to confirm trade details, stopped working.　　The disruption began on Thursday and hit Microsoft 365 business apps such as Teams, SharePoint and Copilot worldwide, along with Outlook. In the US, Downdetector logged up to 130,000 Outlook reports at the peak.　　How the Microsoft Outage Hit Japans Finance Sector　　Nikkei reported that the outage disrupted Japan‘s financial market. A source on a domestic asset manager’s trading desk said one broker had asked it to stop placing orders. That broker relies on Microsofts email system.　　Sponsored　　Sponsored　　In addition, investment trusts delayed publishing their net asset values. The governments shared IT system, overseen by the Digital Agency, also went down, Deputy Chief Cabinet Secretary Masanao Ozaki confirmed.　　The root cause remains unclear. Microsoft says servers failed automated health checks, while a core process that sets up secure connections became overwhelmed.　　Servers that came back online often failed again once traffic returned, the company adds. Its Japanese unit said it had found no facts pointing to a cyberattack.　　Japan was not alone. In Australia, some workers also turned to fax machines, ABC reported. RSM Australia partner Ashwin

13 hours agoIndustry

Grok Bot Did a Week of Painful Work in 5 Minutes for Elon Musks Mother

Elon Musks mother, Maye Musk, says the Grok Bot AI agent moved 2,000 of her Dropbox photos into folders in five minutes. She had set aside a whole week for the job.　　Her son shared the post and urged users to hand the agent their most laborious tasks. Dropbox also replied to the story.　　Sponsored　　Sponsored　　How Maye Musk Saved a Week of Photo Sorting　　The model and author asked Grok Bot for the best way to move 2,000 photos in Dropbox from Camera Uploads into Folders. Instead of listing steps, the agent offered to do what she called a painful task itself.　　After that, she checked her Folders and found the photos there. She joked that she can now spend her time scrolling on X.　　I asked @bot the best way to move 2000 photos in @Dropbox from Camera Uploads to Folders. She said, “would you like me to do it for you？” I was surprised as I had booked out the week to start sorting through them, a painful task. She did it in five minutes. I went to my Folders…　　— Maye Musk (@mayemusk) November 12, 2026　　Dropbox answered with a short reply: “Five minutes well spent.” Meanwhile, Elon Musk quoted the post with a pitch

14 hours agoIndustry

Bitcoin treasury firm Metaplanet stock falls over 4% amid buybacks, MSCI exit

Metaplanet stock has fallen over 4% to ¥219 on November 13, even as the Japanese Bitcoin treasury companys cumulative share repurchases reportedly reached 108.7 million shares ahead of its removal from an MSCI index.　　SummaryMetaplanet stock fell mor than 4% to ¥219 on November 13, trading below its average share repurchase price.Metaplanet reportedly bought back 108.7 million shares for ¥28.27 billion, using 54.4% of its share allowance.The Bitcoin treasury firm cut its 2026 revenue forecast from ¥16 billion to ¥6.5 billion.MSCI confirmed Metaplanets removal from its Japan Small Cap Index, effective November 30, 2026.　　Google Finance data show the Tokyo-listed company‘s shares closed ¥10 below Thursday’s ¥229 finish, after trading between ¥217 and ¥225 during Fridays session.　　Meanwhile, the decline left Metaplanet 12% below its November 2 closing price of ¥250 and nearly 66% below its 52-week high of ¥639. Trading volume reached approximately 14.74 million shares.　　Metaplanet stock price chart, source: crypto.newsMetaplanet stock falls below buyback purchase prices　　The ¥219 closing price is below what Metaplanet paid for shares in its recent repurchase program. Figures reported for November 1–12 show the company acquired 12,256,200 shares for ¥2,999,916,700, an average of roughly ¥244.77 per share.　　That places Fridays closing price approximately 10.5% below the average paid

14 hours agoIndustry

Binance's latest reserves show 928 million USDT drop as BTC, ETH holdings rise

Binance has published a new proof-of-reserves snapshot showing that user USDT holdings fell by 928.2 million tokens over eight days, while Bitcoin, Ethereum, and BNB balances increased.　　According to figures from Binance, the exchange held approximately 24.3 billion USDT on behalf of users as of November 12, down 3.68% from 25.23 billion recorded on November 4.　　The latest snapshot was taken at 00:00 UTC on November 12, shortly after Binance announced that it had fully replenished the cryptocurrency assets affected by the October 29 security breach, which involved approximately $6.34 billion.　　The exchange conducted the additional reserve review outside its regular monthly reporting schedule, covering 198 cryptocurrencies as part of its efforts to document the restoration of affected assets.　　Binances Bitcoin and Ethereum holdings rise in latest snapshot　　Bitcoin holdings increased by 2,388 BTC during the eight-day period, rising 0.35% from 685,524 BTC to 687,912 BTC.　　Ethereum recorded a slightly larger percentage gain, with user balances climbing 1.04% to 3,482,001 ETH from 3,446,090 ETH. The difference amounted to an additional 35,911 ETH.　　BNB followed a similar pattern, with holdings rising 1.03% to 42,948,718 tokens. Users held 42,511,972 BNB in the previous snapshot, representing a gain of 436,746 tokens.　　USDT, meanwhile, recorded the largest decline among the four cryptocurrencies

14 hours agoIndustry

Major Crypto ETFs Bled $1.5 Billion While Wall Street Went Dip Shopping

US spot crypto ETFs lost $1.48 billion between November 4 and 10. Over the same five trading days, 10 major US stock ETFs drew $37.5 billion.　　After the S&P 500s worst day since April 2025 on November 5, stock fund buyers returned. Crypto fund holders kept redeeming, which took a steady source of demand away from crypto prices.　　Sponsored　　Sponsored　　Stock Buyers Went Shopping After the Crash　　Vanguard‘s S&P 500 ETF (VOO) led the buying with $16.9 billion in five days. Invesco’s Nasdaq 100 fund (QQQ) followed with $5.3 billion.　　US equity fund flows over five trading days ended November 10. Source: X/The Kobeissi Letter　　Follow us on X to get the latest news as it happens　　Leveraged funds drew money as well. The triple-leveraged semiconductor fund SOXL took in $2.1 billion. That buying came after a US tech selloff erased roughly $3 trillion in value on November 5.　　Crypto ETFs moved the other way over the same five days.　　Crypto ETF Outflows Continued Through the Rebound　　Spot ETFs tracking six major crypto assets all posted net outflows over the window, according to SoSoValue data.　　Sponsored　　Sponsored　　Bitcoin (BTC) funds shed $1.06 billion, while Ethereum (ETH) funds lost $326 million. Solana (SOL), XRP (XRP), Hyperliquid (HYPE), and Zcash (ZEC) funds lost a combined $89.4

14 hours agoIndustry

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