Crypto markets are mostly flat today, with Bitcoin holding above $103,000 and top altcoins by market capitalization trading mixed.<\/p>\n
Bitcoin (BTC<\/a>) is down about 1% on the day, holding out above $100,000 after reclaiming as high as $104,200 in the past 24 hours.<\/p>\n Ethereum (ETH<\/a>) is flat today, trading around $3,300, with weekly losses at 12%. Among the other large-cap crypto assets, most are flat or slightly in the red today, with Dogecoin (DOGE<\/a>) and Cardano (ADA<\/a>) losing the most, down 3%. <\/p>\n Glassnode explained in an X post today<\/a> that Bitcoin has stabilized near $100,000 after losing \u201ckey cost-basis levels, with fading demand and long-term holder selling.\u201d<\/p>\n In a Nov. 5 market overview<\/a>, glassnode added that with crypto exchange-traded products seeing outflows, and options traders \u201cstill defensive,\u201d the market is now positioned in a \u201cprecarious spot, cautious, oversold, but not yet deeply capitulated.\u201d<\/p>\n Meanwhile, analysts at Coinbase Institutional suggested its monthly outlook<\/a>, published on Nov. 4, that October\u2019s $20 billion liquidation event<\/a> is more likely to be a \u201cprelude to medium to long term strength, not weakness, with a clean slate for Q4 upside.\u201d<\/p>\n Yet, they admitted that full market stabilization \u201cwill likely take a few months, and for now it\u2019s more likely we\u2019ll see a gradual grind up rather than a surge to new all-time highs in the medium term.\u201d<\/p>\n Among the top-100 assets<\/a>, Internet Computer (ICP<\/a>) and Zcash (ZEC<\/a>) are again today\u2019s biggest gainers, up 32% and 12%, respectively, followed by another major privacy coin, DASH, up 11%.<\/p>\n On the downside, pumpfun\u2019s PUMP<\/a>, Mantle (MNT<\/a>), and Hyperliquid\u2019s HYPE<\/a> are the biggest losers in the top-100, down between 5-7%.<\/p>\n Data from Coinglass<\/a> shows that over the past 24 hours, $327 million in leveraged positions were liquidated, including $144 million in longs and $183 million in shorts. Ethereum led with $92.9 million in liquidations, followed by Bitcoin with $65.5 million, and altcoins with $20.6 million.<\/p>\n Spot Ethereum ETFs recorded $118.6 million in net outflows on Wednesday, Nov. 5, bringing total net assets to $22.74 billion, per data from SoSoValue<\/a>. Spot Bitcoin ETFs also saw continued withdrawals, with $137 million in net outflows, reducing total net assets to $139.15 billion. <\/p>\n On the macroeconomic front, U.S. services activity hit an eight-month high in October as new orders rose, Reuters reported<\/a> today, citing data from the Institute for Supply Management. The ISM non-manufacturing index climbed to 52.4 from 50.0 in September, beating expectations of 50.8.<\/p>\n![\"the-defiant\"](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.thedefiant.io%2Fpasted-1762442353753-png-2a4cc369-40c3-4a63-954f-e6831718d4f2.png&w=3840&q=100\"\/)
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Big Movers and Liquidations<\/h2>\n
ETFs and Macro Conditions<\/h2>\n