The so-called Fish-to-Shark cohort added 110,000 BTC over the past 30 days, according to Glassnode.
Stretch (STRC), the perpetual preferred equity issued by Strategy (MSTR), the largest corporate holder of bitcoin
STRC last traded at that level between Nov. 4 and Nov. 13, before falling to a low near $90. The return to par allows Strategy to issue shares through at-the-market (ATM) offerings tied to the product.
The equity is branded as short-duration, high-yield credit. It currently pays an 11% annual dividend, distributed monthly in cash. The dividend rate is reset monthly to encourage trading around the $100 par value and to help reduce price volatility.
Since inception, STRC has risen 16% and offers an effective yield of roughly 11%. The annualized yield is calculated as the current dividend divided by the STRC share price.
MSTR raised the dividend rate on STRC to 11% at the start of the year, marking the fifth dividend increase since the product was introduced in July. The company’s common stock is up 4% in pre market trading to $165, while STRC is up 0.03% at $100.
- LayerZero (ZRO) price rose sharply to rank among top gainers on November 7, 2025.
- ZRO price benefited from a $10 million LayerZero Labs token buy.
- Bulls pushed to intraday highs of $1.87 and could target further upside.
LayerZero’s native token ZRO is trending among top gainers today with double-digit gains.
The token is seeing significant attention amid a volatile cryptocurrency market, with ZRO price buoyed by a strategic move aimed at bolstering the project’s treasury strategy.
Bulls pushed to highs of $1.87 before slipping to around $1.66 as of writing, but could this be the starting of a big move for ZRO?
ZRO price surges after $10 million LayerZero Labs token buy
LayerZero Labs, the team behind the LayerZero protocol, announced a major move on Nov. 7.
It said it had executed a $10 million open-market purchase of its own ZRO tokens, with the fresh buy adding to the company’s balance sheet.
LayerZero Labs has purchased $10m of ZRO for its balance sheet. https://t.co/GsUFGs8for
— LayerZero (@LayerZero_Core) November 6, 2025
“We at LayerZero Labs believe ZRO is currently one of the most mispriced assets in the world,” the announcement stated, emphasizing the protocol’s central role in facilitating a “once-in-a-generation change in the financial system” through global-scale, permissionless infrastructure.
ZRO had plummeted to a multi-month low of $1.28 earlier in the week.
This came amid a broader crypto downturn and the October 20 token unlock event that released 25.71 million ZRO into circulation.
On Nov. 7, the token experienced a robust rebound. It climbed from lows of $1.43 to $1.87.
Trading volume also spiked dramatically, with over $142 million exchanged across major platforms amid a 190% surge.
The unlock in late October had initially pressured prices, leading to a consolidation phase followed by a sharp dump as bearish sentiment gripped the market.
Bulls can now target gains to $2 or higher if prices hold key support levels in the $1.66-$1.52 region.
More about LayerZero
LayerZero’s proactive intervention signaled strong internal conviction, countering narratives of dilution and restoring faith among holders.
LayerZero now connects over 50 blockchains, including Ethereum, BNB Chain, Avalanche, and non-EVM networks like Aptos.
This enables seamless omnichain applications for decentralized finance (DeFi) projects such as Stargate Finance and Radiant Capital.
The buyback not only reduces circulating supply marginally but also positions ZRO as a cornerstone for governance and staking rewards, incentivizing long-term participation.
As could be the case, this action could catalyze further accumulation by large holders. The race for cryptocurrency treasury strategies could heat up for ZRO.
ZRO price today
ZRO has maintained its upward trajectory even as it trades at $1.66 and off intraday highs.
Gains of over 13% in the past 24 hours, as of writing, bring the weekly uptick to 8% and cut losses in the past month to 31%.
While in the red on longer time frames, the ZRO price is above a key downtrend line.
This positions the token above its recent support at $1.60, with intraday fluctuations ranging from a low of $1.64 to a high of $1.87.
Relative Strength Index (RSI) sits at 57, having pivoted from overbought conditions.
Meanwhile, the moving average convergence divergence indicator provides support with a bullish crossover.
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Metaplanet Inc. has taken out $100 million in loans against its Bitcoin holdings, hoping to use that money to buy more Bitcoin and underpin operations.
The Tokyo-listed company reportedly executed the loan at the end of October under an existing credit facility, signaling its continued commitment to Bitcoin as a core asset.
More Bitcoins
Based on reports, the borrowing was completed on October 31 and represents roughly 3% of Metaplanet’s total Bitcoin holdings. The firm currently owns around 30,823 BTC, valued between $3.3 billion and $3.5 billion late last month.
The lender’s identity remains undisclosed, though the loan carries a floating interest rate tied to US dollar benchmarks plus an additional spread.
Source: Fortune · Getty Images
Metaplanet has just tapped a $100 million loan from their credit facility.
This represents about 3% of their Bitcoin value.
I’d imagine it is to prepare for share buybacks at a potential sub 1.0 mNAV…
…or they’re looking to BUY THE DIP!
— Adam Livingston (@AdamBLiv) November 5, 2025
Balance Sheet Plans And Buybacks
Metaplanet has indicated that the funds will go toward acquiring more Bitcoin and supporting revenue-generating strategies linked to its holdings.
The company also has a ¥75 billion share buyback plan—about $500 million in total. Based on reports, the management believes borrowing against Bitcoin allows the firm to strengthen its position without selling existing assets.
Bitcoin As Treasury Asset
Analysts say the move reflects a growing trend of companies treating Bitcoin as a treasury asset, rather than a purely speculative investment, but it clearly carries risks.
A sharp drop in Bitcoin’s price could reduce the value of the collateral, forcing the company to add more collateral or unwind part of its position.
Although the $100 million amount is a small element of its total value in Bitcoin, critics say adding debt to a volatile balance sheet will create financial stress.
Reports also brought to spotlight how the market value of Metaplanet sometimes retreated below the valuation of the Bitcoin it holds, indicating weaker investor sentiment.
Still, the company continues to explore income-producing plans like Bitcoin options trading to generate returns that are beyond price appreciation.
Image: FXLeaders
Deep Trust In Crypto
Market observers are now focusing on how fast the company will put to use the borrowed funds to purchase additional crypto and whether more borrowing will follow.
Changes in Bitcoin’s market price, as well as potential guidance from Japanese regulators, may also impact future decisions.
For now, this $100 million loan is a bold demonstration of Metaplanet’s deep conviction in Bitcoin and possibly sets an example for other firms exploring crypto-backed financing.
Featured image from Unsplash, chart from TradingView
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The price performance of Bitcoin over the past two weeks has been a major source of concern, as the coin’s value continues to drift away (about 15% down now) from its all-time high. As the flagship cryptocurrency slows down, the latest on-chain data suggests that a group of investors is exiting the market en masse.
More Short-Term Holders Are Giving Up Their Holdings
In an October 18 post on the X platform, on-chain analyst Darkfost revealed that a significant number of Bitcoin’s short-term investors have started to close their positions and realize their losses.
Related Reading
Darkfost’s analysis was hinged on the Net Realized Profit/Loss metric, which tracks the net amount (in USD) of profits or losses that are realized on-chain. This metric measures the net profit or loss on a daily basis, averaged, in this case, over seven days. It provides insight into whether more investors are selling at losses or with their heads still above water..
According to the crypto pundit, the realized losses of BTC investors have surged to an approximate level as high as $750 million per day, one of the highest levels this current cycle has seen. Interestingly, Darkfost explained that the magnitude of these capitulation events stands easily comparable to those seen during the 2024 summer correction.
What’s worth noting about this capitulation phase is what may likely follow. According to the analyst, events like this usually precede local bottoms. What this means is that after short-term holders (known as the “weak hands”) have surrendered their holdings to the more-confident long-term holders (the “diamond hands”), the cryptocurrency stands a chance of seeing a price rebound — an expectation in congruence with historical trends.
However, on the more cautious side, Darkfost offered a subtle warning that the dreary opposite could also be the case in a situation where the market stands at an early bearish phase.
Bitcoin Whales Might Be Accumulating Again
Supporting the positive redistribution theory, a Quicktake post on the CryptoQuant platform by Abramchart offers a glimmer of hope for Bitcoin market participants. Referencing the Inflows To Accumulation Addresses (Dynamic Cohort) metric, the analyst highlighted a significant inflow of more than 26,500 BTC into whale accumulation wallets.
When large amounts of Bitcoin — such as this magnitude — are moved, it usually signals an underlying institutional or whale accumulation, as coins are typically transferred from exchanges to these wallets for long-term holding.
Related Reading
Following historical patterns, it is very likely that this accumulation event will precede a continued bullish expansion of the flagship cryptocurrency. As Abramchart explained, this trend all serves as a hint that smart money is “quietly buying the dip.”
As of this writing, Bitcoin holds a valuation of about $106,870, with no significant movement seen over the past 24 hours.
Featured image from iStock, chart from TradingView
Michael Saylor has once again hinted that his company, Strategy (formerly MicroStrategy), may be preparing to buy more Bitcoin, even as corporate Bitcoin treasuries face mounting pressure from a sharp drop in net asset values (NAV).
In a Sunday post on X, Saylor shared a chart from the Saylor Bitcoin Tracker, showing Strategy’s cumulative Bitcoin (BTC) purchases. “The most important orange dot is always the next,” he also wrote.
The chart, tracking 82 separate purchase events, lists Strategy’s holdings at 640,250 BTC, worth around $69 billion at current prices, up 45.6% from its aggregate cost basis of $74,000 per coin.
The post has fueled speculation among traders that another Bitcoin purchase could be imminent. In the past, similar cryptic posts have preceded buying announcements from Strategy.
Related: Strategy added 220 BTC for $27.2M last week as Bitcoin posted new highs
Strategy leads global Bitcoin treasuries
According to data from BitcoinTreasuries.Net, Strategy remains the world’s dominant Bitcoin-holding corporation with 640,250 BTC. The firm’s holdings represent nearly 2.5% of Bitcoin’s total supply, surpassing the combined reserves of top 15 public miners and corporate treasuries.
In second place is MARA Holdings (Marathon Digital) with 53,250 BTC worth approximately $5.7 billion, followed by XXI (CEP) in third with 43,514 BTC valued at $4.7 billion. Japan’s Metaplanet (MTPLF) ranks fourth with 30,823 BTC, while the Bitcoin Standard Treasury Company (CEPO) rounds out the top five at 30,021 BTC.
The data also shows that several US-listed firms, including Riot Platforms, CleanSpark, Coinbase and Tesla, maintain smaller but still substantial Bitcoin positions. The top 15 public companies collectively hold over 900,000 BTC.
Related: Why Saylor’s Strategy keeps buying Bitcoin: The long-term bet, explained
Bitcoin treasury NAVs collapse
The post follows a turbulent year for corporate Bitcoin treasuries. In a recent report, 10x Research revealed that Bitcoin treasury firms have seen their NAVs collapse, wiping out billions in paper wealth.
Analysts said the boom in Bitcoin treasury companies, which issued shares at multiples of their actual BTC value, has “fully round-tripped,” leaving retail investors deep in losses while firms accumulated real Bitcoin.
On Tuesday, Metaplanet saw its enterprise value fall below the value of its Bitcoin holdings for the first time. The company’s market-to-Bitcoin NAV ratio dropped to 0.99, signaling that investors now value the firm at less than the worth of its underlying BTC reserves.
Magazine: Back to Ethereum — How Synthetix, Ronin and Celo saw the light
Bitcoin price has continued to hover in the range of $106,000-$108,000 over the last 24 hours. The premier cryptocurrency is presently displaying some stability following another volatile trading week, which produced a 3.41% price loss. Notably, Bitcoin’s movement amid this corrective phase has triggered an interesting on-chain signal with bullish implications.
Bitcoin Short-Term Holders Go Underwater, But Historical Data Reads Bullish Signs
In an X post on October 18, popular market analyst, Ali Martinez, shares an important on-chain development. Amid the recent price decline, Martinez notes that Bitcoin slipped below its short-term holders’ (STH) realized price, creating an ideal situation for a market accumulation based on historical data.
For context, the STH realized price represents the average acquisition price of coins held by short-term investors, i.e, wallets that have held BTC for less than 155 days. Typically, when the market price dips below this level, it indicates that new market entrants are underwater, signaling local capitulation and short-term fear in the market
Based on the Glassnode data shared by Martinez, Bitcoin fell below its STH realized price on October 14 during its latest price correction. While such developments usually trigger temporary selling pressure, historical data show it has also become a cue for strategic buyers.
In particular, the price dip below the STH realized price appears to align with strong rebound points in the market. Notably, the chart above shows four prior instances (May 2023, November 2023, August 2024, and May 2025), where Bitcoin’s descent below the STH realized price was followed by substantial recoveries.
Martinez explains that this price dip usually provides a good opportunity for market accumulation, thereby fueling future price rallies. Interestingly, the broader Bitcoin market remains dominated by long-term holders, who are potentially utilizing this price pocket to strengthen their holdings, thus maintaining the present bullish structure.
Bull Market Still On
In other news, a fellow market analyst with the username Titan of Crypto has recently stated that the Bitcoin bull market remains active amid bearish speculations following the latest price drops. Titan of Crypto has hinged their positive market insight on the 38.2% Fibonacci retracement level, which has acted as a pivotal level in determining price direction in the current market cycle
The analyst notes that as long as Bitcoin’s weekly candle holds above this level, the broader bull market continues to stay active. At press time, Bitcoin is valued at $106,800, reflecting a minor 0.40% decline in the past day. Meanwhile, daily trading volume is down by 61% and valued at $39.3 billion.
Bitcoin’s price decline continues as the crypto market adjusts following its recent all-time high.
This has triggered renewed debate among investors: is this the ideal moment to buy the dip, or could more downside pressure still be ahead?
Bitcoin Falls But Presents Opportunity
Exchange balances for Bitcoin have plunged to a six-year, four-month low, signaling growing investor accumulation. Since the start of October, roughly 45,000 BTC—worth over $4.81 billion—has been withdrawn from exchanges.
These consistent outflows reflect investors’ conviction that lower prices present buying opportunities amid broader market uncertainty.
This “buy the dip” sentiment has grown stronger as long-term holders accumulate at a steady pace. Historically, declining exchange balances correlate with reduced selling pressure, often preceding market stabilization or recovery phases.
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Bitcoin’s 30-day Market Value to Realized Value (MVRV) ratio currently sits at -7.56%, indicating that investors who bought within the past month are holding roughly 7.5% unrealized losses.
While negative MVRV readings often signal short-term pain, they have historically marked attractive entry zones for long-term investors.
The MVRV’s dip into the “opportunity zone” suggests Bitcoin could soon witness a trend reversal if accumulation strengthens. Each past instance of this metric entering negative territory has been followed by a notable rebound.
BTC Price Aims To Jump
At press time, Bitcoin trades at $106,947, sitting below the critical $108,000 level that previously acted as strong support. This loss has heightened volatility across the market, but a rebound remains possible if buying momentum holds.
Should accumulation persist and investor sentiment strengthen, Bitcoin could reclaim $108,000. This would push it toward $110,000, with a potential extension to $112,500 if momentum builds further. Such a move would indicate renewed market confidence.
Conversely, failure to maintain current levels could lead to further downside. A drop below $105,000 would expose Bitcoin to additional selling pressure. This would potentially dragging it toward $101,477 and invalidating the short-term bullish outlook.
The post Bitcoin Exchange Supply Falls To 6-Year Low — A Signal To Buy The Dip? appeared first on BeInCrypto.
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The Bitcoin market continues to reflect much uncertainty, as the price shows little to no signs of recovery from the obvious bearish trend established in the last two weeks. However, on-chain data has surfaced that puts into perspective the price action of the flagship cryptocurrency and what market participants can, as a result, realistically anticipate.
Binance And Other Major Exchanges Witness Capitulation
In a recent QuickTake post on the CryptoQuant platform, analyst CryptoOnchain revealed a drastic change noticed across top exchanges involved with Bitcoin transactions. The relevant indicator here is the Bitcoin Taker Buy Ratio, which gauges the proportion of trading volume initiated by the buyers against the magnitude of transactions elicited by sellers. In this case, the analyst measured the Taker Buy Ratio on Binance and that on “All Exchanges” as a collective.
A reading above 0.5 represents the presence of more buyers as opposed to the relative scarcity of sellers. On the flip side, values below 0.5 points at the preponderance of sellers across the measured exchange. As was reported by CryptoOnchain, the Bitcoin Taker Buy Ratio recently fell to a “multi-year low” of about 0.47. Clearly seen on Binance, the world’s largest crypto exchange, a Taker Buy Ratio below 0.5 is expectedly to back the overwhelming sell pressure seen reflected on Bitcoin’s price.
What’s interesting about this surge in sell pressure is how it follows the recent spike previously noted in exchange inflows. The analyst explains completes a typical capitulation sequence starts with “panic inflows,” a scenario where investors hurriedly move their BTC holdings to exchanges. After this, aggressive selling follows suit, increasing bearish pressure on the price.
Usually, when the market records this high a magnitude of sales, it means the market sentiment could be in a state of fear. True to this, the analyst explained that “the dominance of aggressive sellers over the buyers has reached an extreme point.”
Bitcoin Market Outlook
At the moment, there is a high possibility that the bearish pressure dominating the market could send Bitcoin’s price further towards the downside, seeing as the market appears to struggle against this wave of supply.
However, CryptoOnchain reemphasized known historical trends suggesting that this kind of capitulation event, where the market flushes out the weak hands, has often preceded the establishment of a market bottom. If history is anything to go by, the Bitcoin market could be nearing price levels where it begins to see significant bullish reversals.
For this to be possible, the analyst added a caveat that it most likely would be on the condition that the 0.5 level has been decisively reclaimed, especially if it were to occur on a large exchange like Binance. As of press time, Bitcoin is worth approximately $106,900, with a slight but insignificant growth of 0.3% over the past day.
Featured image from Flickr, chart from Tradingview
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Li Lin, the founder of cryptocurrency exchange Huobi and chair of investment company Avenir Capital, has reportedly raised about $1 billion as part of a strategy to invest in Ether.
According to a Bloomberg report on Friday, Li has partnered with Fenbushi Capital co-founder Shen Bo, HashKey Group CEO Xiao Feng, and Meitu founder Cai Wensheng to launch an Ether accumulation strategy through a Nasdaq-listed shell company. The project raised $1 billion, which included $500 million from HongShan Capital Group and $200 million from Avenir.
With the support of the Ether (ETH) backers, the group plans to announce the launch of the trust in two to three weeks.
Li founded the Huobi exchange in 2013, later selling the company to crypto entrepreneur Justin Sun. Tensions between the two individuals included lawsuits over the use of the term Huobi Global and accusations of fraud.
Related: 95% of corporate ETH buys happened in Q3 — start of Ether supercycle?
According to data from Nansen, the price of ETH was $3,857 at the time of publication, having surged by more than 9% in the previous seven days.
Avenir is still a top Bitcoin holder
The investment company reported holding about 16.5 million shares of BlackRock’s iShares Bitcoin Trust exchange-traded fund, or IBIT, in August. Accelerating its purchase of other tokens like Ether and Solana (SOL) — the company participated in launching a $500-million Solana treasury in September — could significantly impact investment strategies in the crypto industry.
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