Key Takeaways
- • Bitcoin traded near $80,250 on November 5, 2026, down 0.2% since midnight UTC but holding above $80,000 after Wednesday's jump from roughly $78,000, according to CoinDesk.
- • Nasdaq approved the listing of Canary Capital's staked INJ ETF, which would trade as INJC per an SEC filing, lifting Injective up about 6% since midnight UTC and making it the top CoinDesk 100 gainer.
- • U.S. spot bitcoin ETFs took in $74.6 million on Wednesday, ending a three-day outflow streak, according to Farside Investors.
- • Derivatives data shows the bitcoin rally was driven largely by forced closures of short positions: open interest rose only 0.3% against a 2.6% price gain, and about 93% of $267 million in liquidations were shorts.
- • Bitcoin one-week skew fell to about 2% from roughly 11% the prior day, and one-week implied volatility drifted to about 33%, signaling reduced demand for downside protection.
Summary
Bitcoin held above $80,000 on Thursday morning, trading around $80,250 after a Wednesday jump from approximately $78,000, according to CoinDesk. Ether fell 0.4%, while the CoinDesk 80 Index gained 0.9%. The move came as oil dropped about 8% and U.S. stocks rose following the midterm elections. Brent crude traded at $95 per barrel. Stock futures were mixed early Thursday, with S&P 500 futures down 0.1% and Nasdaq-100 futures down 0.8%, ahead of jobless claims and Friday's jobs report.
The most notable single-asset move was in Injective, which rose roughly 6% since midnight UTC and about 10% over 24 hours after Nasdaq approved the listing of Canary Capital's staked INJ ETF, which would trade as INJC, according to an SEC filing. Venice token VVV, Wednesday's top gainer, gave back 11% over 24 hours. Official Trump (TRUMP) fell around 14% over 24 hours, the weakest performer among the top 100 tokens on CoinMarketCap, coinciding with Democratic midterm wins, while World Liberty Financial's WLFI lost around 4%.
U.S. spot bitcoin ETFs took in $74.6 million on Wednesday, ending a three-day outflow streak, according to Farside Investors. Over 24 hours, bitcoin gained 2.5% and ether 4%. The CoinMarketCap fear and greed index rose to 42 from 37, back into neutral territory, and its altcoin season index stood at 49.
Derivatives data suggests the rally was driven more by short covering than new capital. Market-wide crypto futures volume rose 15% to $244 billion, while open interest rose only 1% to $139.9 billion. Liquidations climbed 53% to $715 million, with roughly 65% of those being shorts. Bitcoin's taker buy-sell ratio flipped to a slight sell lean at 50.6%. Funding rates remained positive across most coins, meaning longs continue to pay shorts. Bitcoin's one-week skew fell to about 2% from roughly 11% the previous day, and five of its six most active options contracts were calls at strikes between $78,000 and $85,000, while ether's most active contracts were predominantly puts.
The most notable single-asset move was in Injective, which rose roughly 6% since midnight UTC and about 10% over 24 hours after Nasdaq approved the listing of Canary Capital's staked INJ ETF, which would trade as INJC, according to an SEC filing. Venice token VVV, Wednesday's top gainer, gave back 11% over 24 hours. Official Trump (TRUMP) fell around 14% over 24 hours, the weakest performer among the top 100 tokens on CoinMarketCap, coinciding with Democratic midterm wins, while World Liberty Financial's WLFI lost around 4%.
U.S. spot bitcoin ETFs took in $74.6 million on Wednesday, ending a three-day outflow streak, according to Farside Investors. Over 24 hours, bitcoin gained 2.5% and ether 4%. The CoinMarketCap fear and greed index rose to 42 from 37, back into neutral territory, and its altcoin season index stood at 49.
Derivatives data suggests the rally was driven more by short covering than new capital. Market-wide crypto futures volume rose 15% to $244 billion, while open interest rose only 1% to $139.9 billion. Liquidations climbed 53% to $715 million, with roughly 65% of those being shorts. Bitcoin's taker buy-sell ratio flipped to a slight sell lean at 50.6%. Funding rates remained positive across most coins, meaning longs continue to pay shorts. Bitcoin's one-week skew fell to about 2% from roughly 11% the previous day, and five of its six most active options contracts were calls at strikes between $78,000 and $85,000, while ether's most active contracts were predominantly puts.
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