The cryptocurrency market lost nearly $1 trillion in market capitalization between early October and November 5, with total market cap declining from $4.3 trillion to $3.4 trillion. Bitcoin tested the $100,000 support level after an 8% weekly decline, while Ethereum dropped 16% to $3,300. The selloff triggered $2.1 billion in overnight liquidations on November 5, affecting approximately 486,069 traders.

Bitcoin fell below $100,000 for the first time in months despite global M2 money supply hitting a record $95.8 trillion. As of November 5, BTC trades near $104,000, breaking its historical correlation with liquidity expansion. Data show Bitcoin has dropped below its 365-day moving average of approximately $102,000, with CryptoQuant's Bull Score Index reaching zero for the first time since June 2022.

BlackRock saw combined outflows of $379.3 million from its Bitcoin and Ethereum spot ETFs between November 3 and November 4. The Bitcoin fund recorded approximately $186.5 million in withdrawals, while the Ethereum product saw $192.8 million exit. The outflows coincided with broader market volatility that pushed Bitcoin below $100,000 and Ethereum off recent peaks.

U.S. spot Bitcoin ETFs recorded $578 million in net outflows on November 4, while Ethereum ETFs saw $219 million in redemptions, marking their fourth and fifth consecutive days of withdrawals. Solana-based ETFs attracted $14.83 million in inflows the same day, extending a six-day streak despite SOL dropping over 30% in the past month.

Sequans Communications sold 970 BTC to redeem 50% of its $189 million convertible debt, reducing outstanding obligations to $94.5 million. The IoT semiconductor firm's remaining treasury holds 2,264 BTC, valued at approximately $240 million. Bitcoin trades near $102,000, down 2.45% in 24 hours, with technical indicators showing a descending wedge pattern and RSI at 31.

Stream Finance suspended operations after a $93 million loss tied to an external asset manager exploit. The incident caused its xUSD stablecoin to depeg to $0.30, prompting concerns among XRP community members about indirect exposure through Midas's mXRP vaults.

Bitcoin dropped 10% over the past week to retest $100,000, recording its weakest 30-day performance against the Nasdaq since July 2024. Despite bearish sentiment following October's $20 billion deleveraging event, easing monetary policy, potential 401(k) crypto access, and increased bank participation suggest the decline represents consolidation rather than a cycle peak, according to K33 Research.

Canada's Department of Finance unveiled a stablecoin regulation proposal in its 2025 budget plan requiring issuers to maintain adequate reserves and clear redemption policies. The Bank of Canada will allocate $10 million for implementation in fiscal years 2026–2027, with $5 million annual operating costs funded by issuer fees under the Retail Payment Activities Act.