Market maker Wintermute warned that new capital has stopped flowing into the cryptocurrency market, with current trading activity driven by reallocation of existing funds rather than fresh inflows. The firm noted that stablecoins, ETFs, and digital asset treasury companies expanded from $180 billion to $560 billion since early 2024, but growth momentum has since slowed. Price rallies are now shorter and produce smaller gains as capital rotates internally among existing participants.

Robinhood Markets reported cryptocurrency trading revenue of $268 million in the third quarter, a 339% increase from $61 million in the same period last year. The platform handled $80 billion in crypto transactions during the quarter. The revenue growth followed the company's acquisition of Bitstamp, which expanded its reach to institutional clients and more than 50 countries.

The Bank of England will publish its consultation on stablecoin regulation on November 10, Deputy Governor Sarah Breeden said. The proposals are expected to include holding caps of £20,000 for individuals and £10 million for businesses, with initial rules applying to systemic stablecoins.

Dogecoin has formed a death cross as its 50-day moving average crossed below the 200-day moving average, confirming bearish momentum. Bitcoin faces a $500 million sell wall on major exchanges while trading near $100,000. Ethereum has stabilized around the $3,000 support level after a sharp correction.

Robinhood reported Q3 2025 revenue of $1.27 billion on November 5, doubling year-over-year and beating Wall Street's $1.19 billion estimate. Crypto trading revenue jumped over 300% to $268 million. Earnings per share reached 61 cents, up from 17 cents in Q3 2024, while net income climbed 271% to $556 million.

Bitcoin retreated toward $100,000 after reaching above $126,000 in early October, marking a 15-20% decline. Major BTC ETFs including IBIT and FBTC recorded outflows exceeding $500 million in late October, following mid-month inflows of over $400 million. The reversal reflects weakening institutional demand amid mounting macroeconomic pressures.

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.

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.