Crypto Market Update: Sector Recovers Heading into the Weekend

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$103,760, a 3.8 percent decrease in 24 hours, and its highest valuation of the day. Its lowest was US$99,590.49.

Bitcoin price performance, November 7, 2025.

Chart via TradingView.

After a week that has seen the world’s largest cryptocurrency slip more than 20 percent from its early October record high, the crypto market began to show signs of recovery on Friday afternoon.

Speaking about Tether’s Bitcoin accumulation during the recent downturn, Bitget Wallet’s Lacie Zhang said the move underscores institutions’ view of Bitcoin as a strategic reserve asset rather than a speculative trade.

“However, institutional accumulation does not necessarily signal an immediate rebound — it’s a strategic positioning move grounded in the expectation that Bitcoin will outperform once global liquidity conditions improve.’

Zhang explained that Bitcoin’s recent selloff was driven more by broader liquidity stress rather than crypto-specific issues, with exchange-traded fund redemptions causing mechanical selling, and leverage unwinding amplifying volatility — a typical liquidity-drain cycle. She also offered her outlook on what’s to come:

“Looking ahead, recovery depends on how quickly liquidity returns: if unemployment climbs above 4.4 percent or economic data softens once the US shutdown ends, the (US Federal Reserve) may be pushed toward easing. Until then, conditions remain tight, and the January to February credit cycle could still test markets. Longer term, though, institutional accumulation and resilient on-chain activity suggest the foundation for the next phase of crypto recovery is quietly being built.”

Ether (ETH) was priced at US$3,463.13, a 4.8 percent increase in 24 hours to its highest valuation of the day. Its lowest was US$3,199.47.

Altcoin price update

• Solana (SOL) was priced at US$163.40, up by 5.2 percent over the last 24 hours to its highest valuation of the day. Its lowest was US$150.79.

• XRP was trading for US$2.36, up by 8 percent over the last 24 hours, also at its highest valuation of the day. Its lowest was US$2.17.

Crypto derivatives and market indicators

Crypto derivatives markets displayed notable liquidation activity on Friday afternoon amid cautious trader sentiment and volatile price action. Bitcoin liquidations hit US$35.8 billion, primarily from short positions unwinding, while Ether saw US$29.8 billion in short liquidations, reflecting significant adjustments in bearish bets.

Open interest in Bitcoin futures climbed modestly by 0.65 percent to US$71.24 billion, indicating persistent market engagement despite recent price pressures just below the key US$100,000 level. Ether’s open interest rose more sharply by 3 percent to US$40.24 billion, underscoring increasing participation ahead of critical expiration events.

Funding rates for both Bitcoin (0.005) and Ether (0.006) remain marginally positive, signaling a slight long bias among traders, but a generally cautious and balanced market stance.

Crucially, Bitcoin’s relative strength index (RSI) at 48.86 sits near neutral territory, suggesting neither overbought nor oversold conditions. This RSI level aligns with the view of an equilibrium phase with potential for either consolidation or a directional move, depending on forthcoming catalysts.

Today’s crypto news to know

Senate members still gridlocked

The US government shutdown entered day 38 on Friday, with the Senate voting down a House-passed funding bill designed to temporarily restore operations. The deadlock centers on the extension of Affordable Care Act subsidies, a key sticking point for Democrats who rejected the GOP-backed measure.

In response, Senate Democrats proposed a counteroffer to reopen the government with a one year extension of healthcare subsidies. However, bipartisan agreement has yet to be reached, and negotiations continue amid growing economic and social impacts, including flight cancelations and delayed pay for federal workers.

Tempo invests in Commonware

Crypto infrastructure startup Commonware has raised US$25 million in a funding round led by Tempo, a payments-focused blockchain network launched by Stripe and crypto venture firm Paradigm.

Commonware was founded in 2024. The company develops open-source tools that empower companies to launch and manage their own blockchains. Commonware’s CEO, Patrick O’Grady, reportedly told Fortune, which first reported the story, that strategic partnerships and network growth are more important than capital alone at this stage, highlighting the long-term value of collaboration over fundraising milestones.

Japan’s financial regulator backs bank-led stablecoin pilot

Japan’s Financial Services Agency has confirmed it will support a project by the country’s three largest banks — Mitsubishi UFJ Financial Group (TSE:8306), Sumitomo Mitsui Financial Group (TSE:8316) and Mizuho Financial Group (NYSE:MFG,TSE:8411) — to jointly issue stablecoins for cross-border payments.

In a Reuters report, Finance Minister Satsuki Katayama said the agency will oversee legal and operational compliance as the initiative moves into testing. The banks intend to issue yen-pegged tokens under Japan’s revised Payment Services Act, which requires full asset backing and enhanced consumer safeguards. Startup JPYC recently launched its first fully regulated yen-denominated stablecoin backed by domestic savings and government bonds.

UNDP to launch global blockchain training program for governments

The United Nations Development Programme (UNDP) is expanding its blockchain education initiatives to include government officials, aiming to accelerate digital infrastructure adoption in the public sector.

Robert Pasicko, who leads UNDP’s Alternative Finance Lab, said four countries will be selected for the initial rollout within weeks. The program will build on UNDP’s internal blockchain academy, and will include both training and hands-on project support. Research by UNDP has identified over 300 potential government applications for blockchain technology, from transparent fund tracking to public sector payments.

Twenty-five major blockchain organizations, including Polygon Labs, Stellar Foundation and the Ethereum Foundation, have discussed forming an advisory group under UNDP coordination.