A whale address known as "BTC OG" holds a long position of 40,000 ETH (worth approximately $135 million) with an unrealized loss exceeding $2.05 million, BlockBeats reports on Nov. 9. The position was opened at $3,445.58 per ETH, with liquidation set at $2,533.69. The address closed a BTC position the previous day that resulted in a $1.3 million loss. The whale had previously executed profitable short positions on both ETH and BTC in October ahead of market volatility.

Federal Reserve Bank of New York President John Williams said on Nov. 8 that the central bank may need to begin bond purchases soon to expand its balance sheet, Jin10 reports. Williams stated the next step involves determining when reserve levels move from slightly above adequate to adequate, at which point a gradual asset purchase process should start. He noted sustained repo market pressures and other indicators suggest reserves are shifting from abundant toward slightly above adequate, and some analysts expect the Fed could begin expanding asset holdings in the first quarter of next year. Williams cautioned precise timing remains difficult to determine and emphasized such purchases would maintain liquidity rather than serve as stimulus.