Published: Friday, November 7, 2025 · 4:08 PM | Updated: Friday, November 7, 2025 · 4:08 PM
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00:00 Speaker A
Another theme this week that emerged is crypto. Bitcoin heading for a decline of 9% this week, it’s worst week since March. An, as you’ve been following the crypto space very closely here, what’s behind this drop and what are strategist saying could come ahead?
00:23 Speaker B
Yeah, Ally, uh I just got off the phone uh with the head of 10X research. This is a research firm that’s based out in Singapore and they’ve made some pretty accurate calls over the last uh month, uh starting with in the summertime really.
00:44 Speaker B
Um but basically, look, you’ve had these OGs, these long-term uh holders of Bitcoin that have been selling since the summertime really and and you’ve seen sort of an acceleration of that selling uh over the last month or so. So that has weighed on the markets.
01:06 Speaker B
You had the October 10th liquidation, which took out some very important technical levels. Some smaller investors were also liquidated there. Um and so what this firm is saying is is that their base case is that the Bitcoin uh industry is now in a bear market, uh but uh they do not see this bear market lasting like in the one in 21.
01:36 Speaker B
I mean, technically, it is in a bear market because it’s off 20% off its all-time high, which was reached about a month ago. Um but what they’re saying is is that if you break the 93,000 uh level, then you could see an air pocket and you could go further down. They’re predicting perhaps into the 70s.
02:02 Speaker B
Um and you know, at that point also, keep in mind that fund managers that have been buying ETFs and they may also be forced to sell as well because why would you hold a long position or a substantial position in uh these Bitcoin ETFs if it’s uh if it’s falling. So, there are some risks uh in the near term.
02:30 Speaker B
What could turn things around? I mean, there are catalyst that could turn things around. Uh the Fed could decide to uh to to cut in December. You could have more of a regime change at the Fed going into next year. Uh you could see the government reopen. So there are catalyst that could turn things around, but not but right now, we are seeing quite a bit of pressure in the crypto market in general.
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