The market spent the week in risk-off mode: on Tuesday BTC broke below $100k on several major exchanges — the lowest since June; altcoins fell even more. We collected the week’s key signals to show where the risk is now and where demand remains.
Key dates: −$186.5M (11/03) and −$566.4M (11/04). Concentrated selling worsened intraday liquidity and widened spreads — it’s better to use limit orders and split orders into tranches.
On November 4, the total net outflow across ETH ETFs was about −$219M. Part of the capital is moving into cash/stablecoins, part into alternative thematic products. This is not a trend reversal by itself, but a reaction to higher volatility.
Since the end of last week, total inflows have exceeded $199M. Institutional accounts are entering step-by-step, but volumes are still not enough to stabilize the price — more of a selective bid than a reversal.
$110–$128M was drained from Balancer V2 and related pools (WETH, wstETH, osETH, etc.). Several forks/integrations temporarily limited operations. This is the biggest incident for the protocol so far.
The cause was precision/rounding errors and manipulation of invariants in the logic of certain pools, which allowed liquidity to be drained quickly. The case widened discounts and created local liquidity holes in thin pools.
Amid sharp market moves, seven public accounts on HyperLiquid lost tens of millions, fully erasing prior record profits:
These stories show how quickly the market can wipe out even the most successful players when excessive leverage is involved.
Tether earned $10B in Q3 2025 — more than most banks worldwide. Other metrics:
The company raised $500M at a $40B valuation and, together with Mastercard, WebBank, and Gemini, is piloting RLUSD stablecoin settlements for credit cards on XRPL — a rare case of a bank and a major payments company doing on-chain settlements.
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