Bitcoin faces $70,000 risk as investors realize $2 billion in losses and US jobs shock deepens pressure
Bitcoin faces $70,000 risk as investors realize $2 billion in losses and US jobs shock deepens pressureMore than $2 billion in realized Bitcoin losses meets a stronger US jobs report.
Bitcoin briefly fell below $75,000 on November 6, while holders locked in more than $2 billion in losses over the three-day window covered in our report. A stronger-than-expected US jobs release added pressure by raising expectations of another Federal Reserve rate hike. Today’s briefing also covers urgent fixes for an Ethereum software bug, Russia’s new rules for retail crypto trading, and the fallout from a break-in at trading platform SignalPlus. Top NewsBitcoin faces $70,000 risk as investors realize $2 billion in losses and US jobs shock deepens pressure
CryptoQuant analyst Darkfost reported that spot trading on Binance and Coinbase had shifted toward selling. US employers added 165,000 jobs in October against 65,000 expected, strengthening the case for rates to stay high. Darkfost warned that a break below $75,000 could take Bitcoin toward $70,000. That is a conditional analyst scenario, rather than an established price target. Ethereum software bug triggers emergency fixes across major layer-2 networksA defect in Reth, software used to run Ethereum and several layer-2 networks, prompted coordinated patches for Reth, Optimism, Base and Tempo. Base said users were unaffected, and no theft was confirmed. The fixes were available by the November 5 disclosures; installation across every independently operated node remains unverified. Moscow Exchange sets December 1 to launch Bitcoin and Ethereum tradingThe Bank of Russia has finalized rules allowing exchanges to admit Bitcoin, Ether and USDT from November 17. Moscow Exchange plans pilot trading from December 1, followed by gradual onboarding. Non-qualified investors face a 300,000-ruble annual purchase cap per intermediary, and investors must complete testing before trading. What We’re Watching
Elsewhere in CryptoAI watchdog report indicates we may have less than 6 months before AI super intelligence arrives. Independent evaluator METR found that Anthropic’s progress on a set of measurable AI tasks had accelerated to roughly twice its earlier pace. Key evidence attributing the change to AI assistance remains redacted, and the finding does not establish a six-month deadline for superintelligence. Bitcoin miner IREN’s AI revenue milestone slips into 2027 as expansion seeks $6 billion. Bitcoin miner IREN moved its target for more than $4 billion in annualized AI operating revenue into January 2027, with a possible extension through February. It still seeks $6 billion for wider expansion; the revenue target is an operating measure, rather than recognized annual revenue. Bitcoin and USDT attract modest premiums in Paraguay as millions face banking crisis. Paraguay’s resolution of Ueno Bank disrupted access to deposits and coincided with a sharp fall in the guaranÃ. Bitcoin and USDT drew modest local premiums, although the USDT gap narrowed as official exchange rates adjusted. Deposit-guarantee payments have begun for eligible customers. Bitcoin ETFs bought nearly twice what miners produced in Q3—but $430 million left on Thursday. US spot Bitcoin ETFs added 79,800 BTC in Q3 against 41,300 BTC mined, according to 21Shares. But 91% of the fund buying came in two short windows, and November 5 brought $430 million in outflows. The quarterly comparison does not establish sustained demand today. Binance cuts off trading platform SignalPlus after hackers break in with a fake Teams invite. Binance and Deribit revoked API keys connected to SignalPlus, a trading and portfolio platform, after an attacker broke into the service through a fake Teams invitation. That cut off its exchange connections; both exchanges said their own systems were unaffected. The Catalyst by CryptoSlateWhat’s moving crypto. Why it matters. What to watch next. CryptoSlate has covered crypto, markets, and decentralized technology since 2017. Read CryptoSlate · Tips, questions & corrections · Sponsor The Catalyst For information, not investment advice.
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