Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Crypto Today: BTC drops 3% despite $52M ETF inflows as Chainlink launches Ripple’s RLUSD

Source Fxstreet

The cryptocurrency market lost $320 billion in the last 24 hours, with the aggregate market capitalization dropping 10% to $3.2 trillion on Wednesday.
BTC price has declined by 3%, plunging as low as $94,200 despite $52 million Bitcoin ETF inflows.
Ripple and Chanilink have partnered to launch multi-chain access for the RLUSD stablecoin

Bitcoin Market Updates: BTC plunges by another 3% despite strong ETF demand

Bitcoin (BTC) plunged by another 3% on Wednesday, with prices sliding towards $93,700 at the time of publication.
Bitcoin ETFs defy bearish sentiment as they recorded $52 million inflows on Tuesday, bringing the weekly intake to $1.04 billion.

Altcoin market updates: Exchange tokens BNB and BGB show strength as XRP holds $2.3 on Chainlink partnership

Mega-cap assets like XRP and exchange tokens BNB and BGB showcased resilience, defying broader market weakness spurred by an ongoing liquidation event that wiped over $150 billion from global crypto market capitalization in the past 24 hours.

Aggregate Crypto market capitalization

BNB and BGB gained traction as exchange-linked assets benefited from a surge in user activity on Binance and Bitget platforms. Meanwhile, XRP found support at $2.3, fueled by optimism surrounding Ripple’s new collaboration with Chainlink, aimed at integrating oracles for improved DeFi adoption.

Key Altcoin Price Movements

Ripple (XRP)

XRP managed to hold above the crucial $2.3 support, despite broader market sell-offs. This level emerged as a key psychological and technical barrier for bears. Ripple’s partnership with Chainlink sparked renewed interest in its utility for cross-border payments and DeFi expansion. However, upside momentum remains capped near $2.5, with bulls requiring a strong catalyst to regain dominance.

Litecoin (LTC)

Litecoin experienced heightened bearish pressure, falling 8% to $100 after briefly testing $115 resistance earlier in the week. The bearish trend aligns with weakening on-chain activity, though the halving narrative continues to lend medium-term optimism. Bulls must defend $100 support to avoid further downside risks toward $85.

Avalanche (AVAX)

AVAX faced a sharp 7% drop to $37, as sellers capitalized on a broader market correction. The decline follows a failed breakout attempt above $40 resistance, leaving the token vulnerable to further downside.

Chart of the day: Memecoins book $16B losses crypto traders move to avoid downside risks

The US JOLTs job openings data released today revealed higher-than-expected figures, intensifying market fears of a hawkish Federal Reserve.

With rising expectations of tighter monetary policy, risk-averse crypto traders are rapidly exiting highly volatile memecoins to mitigate downside risks.

Memecoins, known for their low liquidity and extreme sensitivity to market sentiment, bore the brunt of today’s market turmoil.

Memecoin sector performance

The aggregate market capitalization of memecoin projects plunged 14.7%, shedding $16 billion to settle at $110 billion as of Wednesday.

Among individual performances, ai16z led the losses with a steep 12% drop in the last 24 hours, while Bonk (BONK) shed 9.2%. Pepe (PEPE) and Shiba Inu (SHIB) also experienced declines of 5.8% and 4.6%, respectively, reflecting the broader risk-off sentiment.

Meanwhile, Pudgy Penguins (PENGU) slid 10.3%, despite its relative stability over the past week.

Crypto news updates:

Bitfinex relocates derivatives operations to El Salvador after securing a DASP license

Bitfinex Derivatives has announced its relocation to El Salvador following the acquisition of a Digital Asset Service Provider (DASP) license.

This strategic move positions the exchange to leverage El Salvador’s progressive crypto regulations, enabling the rollout of innovative trading solutions.

The license allows Bitfinex to expand its crypto offerings in a region recognized for its adoption of digital assets and Bitcoin as legal tender.

As part of the transition, users accessing derivatives services will need to agree to updated terms of service managed under Bitfinex Derivatives El Salvador S.A. de C.V.

South Korea to lift ban on institutional crypto trading, says FSC

South Korea's Financial Services Commission (FSC) has revealed plans to lift the ban on institutional cryptocurrency trading.

The proposed changes will allow local institutions to access crypto exchanges, marking a significant shift in the country's approach to digital assets.

The FSC is working alongside the Digital Asset Committee to implement this policy, starting with non-profit organizations, in a phased effort to broaden institutional participation in the crypto market.

This development aligns with President Yoon Suk-yeol's broader initiative to foster the growth of the local cryptocurrency sector.

The proposed regulatory adjustments also aim to establish clear guidelines for stablecoins, token listings and crypto exchanges.

Fidelity predicts nation-state Bitcoin reserves to drive crypto growth in 2025

Fidelity Digital Assets anticipates that Bitcoin adoption will accelerate in 2025, fueled by nation-states, central banks and sovereign wealth funds increasingly building Bitcoin reserves.

In its “2025 Look Ahead” report, Fidelity pointed to the successful examples of Bhutan and El Salvador, emphasizing the competitive risks nations face if they fail to allocate Bitcoin within their reserves.

Fidelity also suggested that some countries may already be secretly accumulating Bitcoin, preparing to capitalize on its long-term potential.

In addition to nation-state adoption, Fidelity’s report forecasts substantial growth in structured digital asset products and tokenization.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - November 11, 2026 Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 11, 2026. Read on for the details.

Author Mitrade

Nov 11, Wed

Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 11, 2026. Read on for the details.

Bitcoin lost its 200-day average — but the exit started three sessions before the CPI Bitcoin fell 2.5% to about $73,400 on 11 November, an 11-week low, breaking its 200-day moving average near $73,100. The 24-hour liquidation tally reached $632 to $705 million, roughly 82% of it longs. But spot ETF outflows began three sessions earlier and USDT's market cap has shrunk $6.6 billion in 60 days — the leveraged length left before the inflation print did. A double top at 81,890 and 81,080 leaves a measured target of 69,366.

Author Suzie

Nov 11, Wed

Bitcoin fell 2.5% to about $73,400 on 11 November, an 11-week low, breaking its 200-day moving average near $73,100. The 24-hour liquidation tally reached $632 to $705 million, roughly 82% of it longs. But spot ETF outflows began three sessions earlier and USDT's market cap has shrunk $6.6 billion in 60 days — the leveraged length left before the inflation print did. A double top at 81,890 and 81,080 leaves a measured target of 69,366.

Nvidia slid 7.7% after hours while AMD and Broadcom rose — the AI trade changed hands, it didn't break Nvidia closed Wednesday at 173.73, up 2.87%, then fell as much as 8.1% to 159.44 after reports that its board was preparing for a possible leadership change. The same session, the Philadelphia Semiconductor Index rose 5.7% with all 30 components higher, CoreWeave jumped 24.7% on 168% revenue growth, and Micron added 11.9%. If AI demand were being repriced, AMD and Broadcom would not be bid. This is a governance discount on one name, and 204.54 — the 200-day average — is the level that settles it.

Author Irene Q.

Nov 12, Thu

Nvidia closed Wednesday at 173.73, up 2.87%, then fell as much as 8.1% to 159.44 after reports that its board was preparing for a possible leadership change. The same session, the Philadelphia Semiconductor Index rose 5.7% with all 30 components higher, CoreWeave jumped 24.7% on 168% revenue growth, and Micron added 11.9%. If AI demand were being repriced, AMD and Broadcom would not be bid. This is a governance discount on one name, and 204.54 — the 200-day average — is the level that settles it.

Gold hit a one-year low while central banks bought 321 tonnes — the sellers were never the ones you think Spot gold closed at 3,876 on Thursday, down 2.8% and its lowest close in more than a year, with an intraday low near 3,852. The dollar is at a 19-month high of 103.21 and the 10-year yield is at 5.10%, so the price move is easy to explain. What is harder to explain is who sold: central banks bought 321 tonnes in Q3, the PBoC added for a 24th straight month, ETF holdings are near a record 4,256 tonnes, and roughly 95% of the futures selling came from non-reportable and sovereign-type accounts rather than hedge funds. This piece separates the two books that have to balance.

Author Irene Q.

Yesterday 02: 40

Spot gold closed at 3,876 on Thursday, down 2.8% and its lowest close in more than a year, with an intraday low near 3,852. The dollar is at a 19-month high of 103.21 and the 10-year yield is at 5.10%, so the price move is easy to explain. What is harder to explain is who sold: central banks bought 321 tonnes in Q3, the PBoC added for a 24th straight month, ETF holdings are near a record 4,256 tonnes, and roughly 95% of the futures selling came from non-reportable and sovereign-type accounts rather than hedge funds. This piece separates the two books that have to balance.

Brent rose 3.3% and US crude stocks built 4.66 million barrels in the same week Brent January settled at 95.82, up 3.3%, and WTI at 88.74, up 2.55%, after the US signalled it would not pursue a deal with Iran and attacks on Gulf shipping continued. In the same week, EIA data showed US crude inventories rising 4.657 million barrels against expectations of a 1.1 million draw, with gasoline up another 1.799 million. OPEC output also rebounded 1.96 million barrels a day to 27.16 million in October, led by Saudi Arabia at 10.56 million. This piece separates the geopolitical premium from the physical balance and lays out where each side of the trade is anchored.

Author Irene Q.

Yesterday 03: 06

Brent January settled at 95.82, up 3.3%, and WTI at 88.74, up 2.55%, after the US signalled it would not pursue a deal with Iran and attacks on Gulf shipping continued. In the same week, EIA data showed US crude inventories rising 4.657 million barrels against expectations of a 1.1 million draw, with gasoline up another 1.799 million. OPEC output also rebounded 1.96 million barrels a day to 27.16 million in October, led by Saudi Arabia at 10.56 million. This piece separates the geopolitical premium from the physical balance and lays out where each side of the trade is anchored.

Related Instrument