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Crypto

Bitcoin stumbles after Nvidia shock, is it a selloff signal

Bitcoin fell to its lowest level since August, dropping to around $73,500 late on Sunday and briefly breaking below $74,000 ahead of U.S. CPI data. Cointelegraph reported $1.12 billion of leveraged positions were liquidated in 24 hours. Technical indicators weakened as bitcoin slipped below key moving averages. Markets also watched Nvidia after its board opened an independent probe. U.S. CPI and PPI releases and Fed expectations added pressure.

Crypto

Bitcoin increasingly mirrors U.S. stocks as long-term correlation strengthens

An analysis says Bitcoin has increasingly moved in the same direction as U.S. stocks. CryptoQuant analyst Darkfost said a long-term correlation gauge between Bitcoin and the S&P 500 has crossed above zero for the first time since 2015. The gauge is based on a 90-day moving average of return correlations, standardised as a Z-score and accumulated since 2015. While long-term co-movement continues, its pace has recently slowed.

Crypto

Shiba Inu futures exodus surges, raising risk of sixth straight weekly SHIB drop

Shiba Inu futures fund flows have fallen 67-fold in recent days, signaling weakening investor demand around SHIB. On Nov. 8, 10.39 million dollars flowed into SHIB futures and 10.60 million dollars flowed out, leaving net flow at minus 207,230 dollars, according to Coinglass data cited by U.Today. SHIB has been volatile over the past week and broader altcoin risk appetite has weakened. Analysts say the price impact will depend on whether spot buying holds up.