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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};ge("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat($n)),notifLabel:document.querySelector(".".concat(Xn))};t.notifDropdown&&so(e,t)}))}()}};]]>Stream live for exclusive expert insights from top financial voicesLearn moreAnas HassanWed, November 12, 2025 at 10:01 AM GMT+1 3 min readBitcoin’s historic November rallies may not materialize this year, as multiple signals indicate a prolonged consolidation rather than upward momentum.The world’s largest crypto has spent two weeks trapped between $106,000 and $116,000, weighed down by persistent selling from long-term holders and muted institutional demand following October’s sharp liquidation event.Meanwhile, dramatic shifts in global funding markets are adding complexity to the outlook.The Secured Overnight Financing Rate plummeted to 3.92% on November 6, its lowest level in two years, a collapse that financial analyst Shanaka Anslem warns “screams one word: panic.“Source: X/@shanaka86According to Bitfinex’s latest market analysis, Bitcoin briefly rallied to $116,500 on October 27 before retracing over 8.9% to revisit range lows.The report reveals that long-term holders have accelerated distribution to 104,000 BTC per month, the sharpest selling wave since mid-July.“Unless ETF inflows or new spot demand returns to absorb ongoing distribution, BTC is likely to remain range-bound, with a risk bias toward retesting the $106,000–$107,000 zone,” Bitfinex analysts wrote in their November 3 report.The firm warned that “a sustained break below this level could open the path to $100,000 per BTC.“Options markets also add to the mounting uncertainty, with implied volatility compressing steadily since the October 10 liquidation event.Source: GlassnodeThe Put/Call volume ratio has oscillated between extremes as traders alternate between chasing rallies and adopting defensive positions, indicating what Bitfinex described as “a broad lack of directional conviction.“The Federal Reserve formally ended its balance sheet runoff and cut interest rates by 25 basis points to 3.75-4% on October 29.Fed Chair Jerome Powell acknowledged that “signs have clearly emerged that we have reached that standard in money markets” regarding adequate reserve levels.Beginning December 1, the Fed will roll over all maturing Treasury securities while reinvesting the proceeds from mortgage-backed securities into Treasury bills, effectively restoring $25-35 billion in monthly liquidity.Powell described the cut as “risk management” amid weakening hiring and wages but stressed that future decisions are “not on a pre-set course.“Fidelity’s Jurrien Timmer noted that “the Fed’s reverse repo facility (RRP) is now depleted and the Treasury’s cash balance (TGA) has grown to $1 trillion.”Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,738.62 -112.30 (-1.64%)Dow 3047,597.10 -657.72 (-1.36%)Nasdaq22,814.51 -591.94 (-2.53%)Russell 20002,386.95 -63.85 (-2.61%)VIX20.83 +3.32 (+18.92%)Gold4,162.80 -50.80 (-1.21%)PortfolioSign in to access your portfolioSign inTop gainersCLBT Cellebrite DI Ltd. 19.15 +3.18 (+19.91%)SEE Sealed Air Corporation 43.00 +6.62 (+18.20%)TTEK Tetra Tech, Inc. 37.70 +5.25 (+16.18%)ONDS Ondas Holdings Inc. 6.41 +0.90 (+16.27%)DDS Dillard's, Inc. 699.00 +93.04 (+15.35%)Top losersBE Bloom Energy Corporation 99.48 -27.24 (-21.50%)BTDR Bitdeer Technologies Group 11.05 -2.89 (-20.73%)FRMI Fermi Inc. 17.73 -4.03 (-18.53%)VIA Via Transportation, Inc. 41.80 -8.71 (-17.24%)SNDK Sandisk Corporation 237.20 -45.90 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