Bitcoin Breaks Down

DAILY MARKET OVERVIEW

BTC Finally Gives Way

👋 Hey, Crypto Enthusiasts! Hope you’re holding up in this rough market.

🔻 After a full week of choppy action between 100k and 106k BTC finally broke down in a convincing way yesterday evening. BTC fell straight to the 94k zone where it found some temporary support and is now attempting a small bounce.

The damage across the board was heavy. We saw more than one billion dollars in long liquidations and big ETF outflows. Roughly $866m flowed out of BTC products and another $260m out of ETH.

On chain data today shows Blackrock sending even more BTC and ETH to Coinbase which suggests continued selling pressure. Additionally some brief panic emerged after talk of Strategy selling but it turned out to be nothing more than an internal wallet transfer.

All in all the current environment remains weak and confidence is thin.

How low can Bitcoin go ❓️ 

We might see a small relief bounce heading into the weekend but our main targets stay unchanged.

• First 90k and then potentially 88k if momentum stays negative.

• Rising geopolitical tension between the US and Venezuela could add even more stress to the market if conditions escalate.

🐻 For now our bias stays bearish since we have yet to see any clear signs of a bottom forming.

Stay alert and manage risk carefully.

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SOCIAL SENTIMENT

🔷 Chainlink Overview

While the market works to find its footing, we keep exploring. Messari recently published an interesting report on Chainlink, so let’s break it down.

Chainlink began in 2017 as a decentralized oracle solution and has grown into the leading full-stack infrastructure for onchain finance. By late 2025, it secures more than 100 billion dollars in value, supports over 2,400 integrations, holds almost 70 percent of the oracle market, and has powered more than 26 trillion dollars in onchain transaction volume.

Its platform now spans five layers:

• Data through price feeds, low-latency data streams, Proof of Reserve, SmartData, and DataLink, which is used by Deutsche Börse to publish major European market data onchain.

• Interoperability through CCIP and the Cross-Chain Token standard that move tokens and messages across more than seventy public and private chains.

• Compliance through identity, policy, auditing, and automated enforcement systems that let institutions embed rules directly into assets.

• Privacy through Confidential Compute, zk-based attestations, private transfers, and the Blockchain Privacy Manager.

• Orchestration through the Chainlink Runtime Environment, which coordinates onchain and offchain processes in a single workflow.

The LINK token is used for payments, staking, and security. New economic models launched in 2025 include the Chainlink Reserve, which accumulates LINK from service fees and enterprise revenue, and programs like Build, Rewards, and Scale that support ecosystem growth and share value with participants.

Chainlink’s standards are becoming core infrastructure for both DeFi and global financial institutions. DeFi platforms such as Aave, Kamino, Lido, Maple, Pendle, xStocks, Securitize, ether.fi, and others rely on Chainlink for pricing, collateral verification, cross-chain operations, and risk management.

In traditional finance, partners including J.P. Morgan, UBS, Swift, DTCC, Euroclear, Mastercard, Fidelity International, FTSE Russell, Deutsche Börse, Apex Group, SBI Group, and WisdomTree use Chainlink for tokenized fund administration, settlement, corporate actions, market data delivery, identity, and cross-chain workflows. Examples include tokenized money market funds, Delivery versus Payment transactions, automated fund subscriptions and redemptions, and onchain NAV reporting.

With its unified standards and orchestration layer, Chainlink is positioning itself as the core infrastructure for stablecoins, tokenized assets, institutional settlement systems, and private onchain applications across both public and permissioned networks.

NEWS OVERVIEW

The Latest Crypto Headlines 📰 

Uniswap Introduces New Auction System for Fairer Token Launches
Uniswap launched Continuous Clearing Auctions on v4, aiming to make token launches more transparent and create stronger liquidity from day one.

Cash App Adds Bitcoin Lightning and Stablecoin Payments
Cash App now lets users send and receive stablecoins and pay with Bitcoin through Lightning, even if they don’t hold BTC directly.

CleanCore Stock Drops as Dogecoin Treasury Losses Grow
Dogecoin treasury firm CleanCore reported rising losses and falling DOGE value, pushing its stock to its lowest level of the year.

Czech Central Bank Buys Bitcoin in New Digital Asset Test Portfolio
The Czech National Bank created a $1 million test portfolio including Bitcoin to study digital assets, but says this won’t affect its reserve strategy.

YOUTUBE INFLUENCER SUMMARY

Summary From The Top Influencers 📷️ 

Benjamin Cowen – Bitcoin Dominance To Surge Into December (14.11.2025 Summary)

Ben believes Bitcoin dominance is primed to continue rising through early December, even if the climb feels slow. The setup mirrors previous cycles.

Key Points

• Dominance still rising – Despite some noise, BTC dominance has been trending upward for 8 weeks and sits just under 60%.

• December pattern – Historically, many altcoins, including ETH/BTC, bottom out in early December. That pattern appears to be repeating.

• Liquidity favors BTC – During quantitative tightening, liquidity tends to consolidate into BTC. Cowen expects this trend to persist until QT ends, possibly in December.

• ETH holding stronger – ETH/BTC is forming higher lows, but most other alt/BTC pairs are setting lower lows, pointing to continued weakness outside majors.

• Macro comparison – Cowen compares the current environment to 2019, where BTC stayed flat while draining liquidity from alts.

• DXY rising – A strengthening dollar historically leads to weaker altcoin performance versus BTC.

• Dominance breakout coming – Ben expects dominance to break above the 60% resistance band and possibly surge into December like it did in 2017, 2019, and 2020.

Final Takeaway
BTC remains the stronger play. Whether Bitcoin rallies or stays flat, dominance is likely heading higher as alts continue to bleed out.

Bankless – Is The Crypto Bull Market Already Over? (14.11.2025 Summary)

Ryan and guest Tom Schmidt (Dragonfly VC) dig into whether the crypto bull run is losing steam or still has legs. With Bitcoin and ETH trending flat and no blow-off top in sight, many investors are wondering: is this cycle already over, or are we just in a lull before the final push?

Key Points – Tom’s Market Outlook

• Market feels flat despite macro tailwinds – Bitcoin briefly fell below $100K but rebounded quickly. Government shutdown resolution and macro liquidity (via the Treasury General Account and potential Fed rate cuts) should be bullish, yet prices are stagnating.

• Benjamin Cowen’s signal – Bitcoin closing below the 50-week moving average for two weeks has historically signaled the end of bull markets. This metric is on watch.

• Altseason never arrived – Tom notes the lack of a euphoric altcoin phase, which traditionally marks cycle tops. That missing mania could mean the cycle isn't done yet.

• Zooming out is key – Despite short-term pessimism, multi-year trends are intact. Trading volumes in crypto products are still strong, and adoption continues across traditional finance and tech.

• Psychology vs. fundamentals – The gut says it’s over due to lack of excitement, but the data says otherwise. As Tom puts it, “Markets don’t end until there's drunken euphoria,” and that hasn’t happened.

Final Takeaway
Tom doesn’t think the bull market is over. While some metrics flash red and sentiment is weak, the absence of an altcoin blow-off, improving macro conditions, and strong fundamentals suggest more upside may still be ahead — possibly stretching into 2026.

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