Key Takeaways
- • Bitcoin held above $80,000, trading near $80,250 since midnight UTC on Nov. 5, 2026, after a Wednesday jump from around $78,000, according to CoinDesk.
- • Injective (INJ) led the CoinDesk 100 gainers, rising about 6% after Nasdaq approved the listing of Canary Capital's staked INJ ETF, which would trade as INJC, per an SEC filing.
- • U.S. spot bitcoin ETFs took in $74.6 million on Wednesday, ending a three-day outflow streak, according to Farside Investors.
- • Derivatives data show the bitcoin rally was driven largely by short liquidations, with open interest up only 0.3% against a 2.6% price gain, and bitcoin one-week skew collapsed to about 2% from 11%.
- • Official Trump (TRUMP) fell about 14% over 24 hours, the weakest of the top 100 assets, coinciding with Democratic midterm wins.
Summary
Bitcoin slipped 0.2% to around $80,250 early Thursday, holding above $80,000 after a Wednesday jump from roughly $78,000, according to CoinDesk. Spot ETFs ended a three-day outflow streak, with U.S. spot bitcoin ETFs taking in $74.6 million on Wednesday, according to Farside Investors. Ether fell 0.4% to about $2,415, while the CoinDesk 80 Index gained 0.9%. Over 24 hours, bitcoin gained 2.5% and ether 4%.
Wednesday's rally coincided with an approximately 8% drop in oil and a rise in U.S. stocks following the midterm elections. Brent crude traded at about $95 per barrel. Early Thursday, S&P 500 futures were down 0.1% and Nasdaq-100 futures were down 0.8%, ahead of jobless claims and Friday's jobs report.
Derivatives data pointed to a short-driven move rather than fresh buying. Market-wide crypto futures volume rose 15% in 24 hours to $244 billion, while open interest rose only 1% to $139.9 billion. Liquidations jumped 53% to $715 million, with about 65% of them shorts. In bitcoin specifically, open interest rose 0.3% against a 2.6% price gain, and about 93% of the $267 million in liquidations were shorts. Funding remained positive, meaning longs were paying shorts. Bitcoin's one-week skew fell to about 2% from roughly 11% the previous day, and one-week implied volatility eased to about 33%.
In altcoins, Injective led the CoinDesk 100 with a roughly 10% gain over 24 hours after the Nasdaq approval of Canary Capital's staked INJ ETF. Venice token VVV, Wednesday's top gainer, gave back 11% over 24 hours. Official Trump fell about 14%, the weakest of the top 100 on CoinMarketCap, while World Liberty Financial (WLFI) lost around 4%, both coinciding with the Democrats' midterm wins. The CoinMarketCap Fear & Greed Index rose to 42 from 37, back into neutral territory, and its altcoin season index stood at 49.
Wednesday's rally coincided with an approximately 8% drop in oil and a rise in U.S. stocks following the midterm elections. Brent crude traded at about $95 per barrel. Early Thursday, S&P 500 futures were down 0.1% and Nasdaq-100 futures were down 0.8%, ahead of jobless claims and Friday's jobs report.
Derivatives data pointed to a short-driven move rather than fresh buying. Market-wide crypto futures volume rose 15% in 24 hours to $244 billion, while open interest rose only 1% to $139.9 billion. Liquidations jumped 53% to $715 million, with about 65% of them shorts. In bitcoin specifically, open interest rose 0.3% against a 2.6% price gain, and about 93% of the $267 million in liquidations were shorts. Funding remained positive, meaning longs were paying shorts. Bitcoin's one-week skew fell to about 2% from roughly 11% the previous day, and one-week implied volatility eased to about 33%.
In altcoins, Injective led the CoinDesk 100 with a roughly 10% gain over 24 hours after the Nasdaq approval of Canary Capital's staked INJ ETF. Venice token VVV, Wednesday's top gainer, gave back 11% over 24 hours. Official Trump fell about 14%, the weakest of the top 100 on CoinMarketCap, while World Liberty Financial (WLFI) lost around 4%, both coinciding with the Democrats' midterm wins. The CoinMarketCap Fear & Greed Index rose to 42 from 37, back into neutral territory, and its altcoin season index stood at 49.
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