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Arp's Crypto Digest
ARP Digital
November 10, 2025
General Digital Asset Market View:
Bitcoin fell below the $100,000 psychological level for the first time since June 2025, driven by risk aversion and a second consecutive week of spot ETF outflows. U.S. Bitcoin ETFs recorded $1.21 billion in net outflows for the week ending November 7, following $799 million the previous week. Major withdrawals came from BlackRock’s IBIT ($581M), Fidelity’s FBTC ($438.4M), and ARK’s ARKB ($129M), partially offset by modest inflows of $26.3M into Grayscale’s BTC and Bitwise’s BITB. Overall, six issuers saw outflows and two saw inflows, as Bitcoin dropped 7.6% during the week. Despite the downturn, ETF issuers remain net positive year-to-date, suggesting limited risk of sustained outflows.
Macro:
US economic indicators including the October CPI will continue to be impacted by the government shut down. So the focus will be on economic activity data in China as well as the Q3 GDP in the UK. The US has Veteran’s Day on Tuesday (bond market closed).
More Crypto:
Sourrce: CryptoQuant
Over 28% of Bitcoin’s circulating supply is now held at a loss — nearly a third of holders are underwater.
Historically, these moments often mark local bottoms in bullish cycles, as markets flush out exhausted sellers.
Source: Nansen
Layer-2 chains are on fire this week — ZKsync fees up +694%, Arbitrum +194%, Sei +186%, Linea +121%, and Optimism +117%.
User activity and on-chain interaction are accelerating to new highs.
What Happened This Week:
JPMorgan reveals $343M in Bitcoin ETF holding.
Paystand acquires Bitwage to enable global crypto payouts.
Trump praises crypto for easing dollar pressure.
Metaplanet takes a $100M loan backed by Bitcoin to buy more Bitcoin.
Ripple announces a $500M strategic investment led by Fortress and Citadel Securities, valuing the company at $40B.
What to Look Out For:
Kazakhstan plans $1B crypto reserve fund from seized assets by 2026.
Robinhood $HOOD may buy Bitcoin for its balance sheet.
$11.6T Charles Schwab CEO says Bitcoin trading will start in 2026.
Monad Mainnet will launch on November 24th.
What we enjoyed reading and listening to:
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