Continuing our crypto news update from yesterday, the broader crypto market is hanging on for dear life.
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Bitcoin
1.75%
Bitcoin
BTC
Price
$99,515.76
1.75% /24h
Volume in 24h
$65.40B
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was trading around $103,000 yesterday, from where it fell to $100,000 and is currently trading at
, trying to defend its current position.
(Source: CoinMarketCap)
Its price is currently moving between $100,412 and $103,478 and is showing signs of a slowing in momentum. The effects of its earlier rally that led to its ATH have cooled down, and traders are now more cautious.
For now, the short-term outlook looks bearish. The $100,000 level is a key support. If it holds, BTC might stabilize or bounce back from here. However, if it breaks below this level, prices could fall further, possibly towards $94,000, depending on how the market condition worsens.
To turn bullish again, BTC needs to break above the $110,000 – $112,000 resistance zone. Without that, it may continue to move sideways or drop.
Hanging by a thread
BTC is trading right on the edge of key support at $100K.
Selling pressure is clearly dominating, while buyers are struggling to keep the price afloat. Every dip below $100K gets bought up fast ,,but those rebounds look weak.
If support breaks and holds, we… pic.twitter.com/50zgrSv48r
— Cryptocapo_ (@iking_emkey1) November 7, 2025
Beyond the short-term ups and downs, BTC’s fundamentals remain solid and its long-term outlook looks promising. A lot of risky speculation has already been cleared out of the market, reducing the risks of big price drops.
Moreover, institutions and big investors continue to see BTC as a safe alternative to traditional assets.
Financial advisers and institutions are scooping up BTC at low prices through ETFs like iShares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC), and Grayscale Bitcoin Trust (GBTC).
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Crypto News Update: ETH Drops Below $3,300
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Ethereum
2.63%
Ethereum
ETH
Price
$3,235.73
2.63% /24h
Volume in 24h
$32.05B
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dropped by 4.61% in the last 24 hours, falling to
. It broke below its key support at $3,400 even though whales were buying aggressively.
Sellers outnumbered buyers at key levels, leading to its price breaching the key support. Its price action tried to test the $3,415 level, but was rejected, from where it quickly dropped to $3,400.
As the price was falling, whales bought the dip. They scooped up about 394,682 ETH worth $1.37 billion between $3,247 and $3,515.
Since then, ETH has faced issues climbing back to $3,350 and has come down to where it’s currently trading at $3,232.
Whales keep accumulating $ETH — over the past 3 days, many whales have collectively bought 394,682 $ETH($1.37B).https://t.co/RhDYQM0yl6 pic.twitter.com/3qMSojTSTu
— Lookonchain (@lookonchain) November 6, 2025
On the technical side, ETH’s network is still strong as it recently hit a record of 24,192 transactions per second. But daily active users are down by 24% since August this year.
$ETH just hit a record 24,192 TPS, powered by Layer 2 Lighter, which has been consistently sustaining ~4,000 TPS since launch.
This is real network execution.
Throughput is up, fees are down, and efficiency is rising.@ethereum @VitalikButerin pic.twitter.com/qC0AA4auvc— Crypto Patel (@CryptoPatel) November 6, 2025
Looking ahead, traders are watching the price action closely. A move above $3,480 would help reverse the current downtrend.
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Bitcoin ETFs See $240M Inflows After Six-Day Slump
Bitcoin finally saw some money come in on 6 October 2025 after six straight days of outflows.
According to SoSoValue’s data, 12 spot BTC ETFs bought in $240 million, ending the dry spell, where over $2 billion had been pulled out.
Still, it’s a drop in a bucket. November has been tough so far, and US BTC ETFs have lost $661 million this month alone, compared to the strong inflows of $3.53 billion in October and $3.42 billion in September..
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Ireland Fines Coinbase $25M (Approx.) Over Missed Transactions
The Central Bank of Ireland has fined Coinbase Europe Limited a total of €21,464,734 for failing to meet its obligations under anti-money laundering and counter-terrorist financing rules.
The issues occurred between April 2021 and March 2025 and involved significant gaps in the company’s monitoring of transactions flowing through its platform. This enforcement marks the first action taken against a crypto firm under Ireland’s updated sanctions procedure.
Read More Here
SharpLink Moves $14M In ETH To OKX Before Earnings Report
SharpLink Gaming moved a large chunk of ETH worth over $14 million to the crypto exchange, OKX, just before its upcoming earnings report.
According to Lookonchain’s data, a wallet linked to SharpLink withdrew 5,284 ETH, out of which 4,364 ETH (about $14.47 million) was sent to OKX on November 7.
A wallet linked to SharpLink Gaming redeemed 5,284 $ETH($17.52M) and deposited 4,364 $ETH ($14.47M) into #OKX 4 hours ago.https://t.co/aEOMGzxxOM pic.twitter.com/ljO14bxj7f
— Lookonchain (@lookonchain) November 7, 2025
The remaining 791 ETH is still sitting untouched in the wallet.
The total value of the ETH withdrawn was around $17.52 million at the time of the transfer.
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$1.5M BTC? Cathie Woods Revises Her Prediction
ARK Invest CEO, Cathie Wood, has revised her ultra-bullish BTC price prediction of $1.5 million to $1.2 million. The reason for a revision in price is stablecoins that have managed to steal BTC’s thunder.
Stablecoins like USDT and USDC have gained traction, especially in emerging markets where they are increasingly being used for payments and savings.
JUST IN:
Cathie Wood says Ark Invest is trimming its bullish #Bitcoin forecast by $300K, citing stablecoins’ rapid growth in emerging markets, bringing the new top target to $1.2M by 2030. pic.twitter.com/rln31NwhR1
— Bitcoin.com News (@BTCTN) November 6, 2025
Wood confirmed that stablecoins have absorbed some of the growth that was previously expected from BTC.
Still, she remains bullish on the digital gold. ARK’s updated projections show BTC at $1.2 million in a bull case, $600,000 in a base case, and $500,000 in a bear case by 2030.
Green Crypto? Texans Aren’t Buying It
BTC mining companies in Texas are promoting their use of renewable energy sources like wind and solar. They claim that their use of renewable energy stabilizes the power grid and supports the growth of clean energy.
However, local Texans aren’t buying it, and environmental activists are pushing back. They argue that crypto mining operations are noisy, strain infrastructure, and divert green energy from homes and businesses.
Residents of Hood County, Texas, have voted against forming a new town to regulate noise from a nearby Bitcoin mining site.
Only 38% supported creating “Mitchell Bend,” a proposed two-square-mile municipality for roughly 600 residents. pic.twitter.com/vlEFys9OSb
— 0xMarioNawfal (@RoundtableSpace) November 6, 2025
On the one hand, miners claim that they’re contributing to the state’s energy economy. Critics beg to differ.
They argue that the environmental benefits are overstated and that deals are being made without proper community input.
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The post Crypto News Update: BTC Defends $100k, ETH Breaches $3,300 Support appeared first on 99Bitcoins.
