Let’s explore the key factors and events helping the crypto market rebound on Nov. 10.
CoinShares has published its latest Digital Asset Fund Flow weekly report and revealed that crypto-based products experienced outflows totaling $1.17 billion.
The data highlights the challenging conditions that affected the broader cryptocurrency market over the past week.
Bitcoin was at the center of recent outflows in the crypto market, totaling $932 million. In contrast, short Bitcoin ETPs saw inflows of around $11.8 million.
Ethereum also recorded notable outflows totaling approximately $438 million.
More information is available here.
Ethereum’s derivatives are showing particularly positive momentum, with total OI in futures climbing to around $40.11 billion across all exchanges.
Data from CoinGlass shows that Binance leads in open interest with $8.15 billion, followed closely by CME at $7.57 billion.
The rising OI indicates that institutional participation in the Ethereum market is increasing.
According to CoinMarketCap, ETH is currently trading at $3,593, which means that it is up almost 5% within the last 24 hours.
On Nov.10, the Bank of England (BoE) unveiled its plan for overseeing sterling-denominated “systemic stablecoins” as it believes that such assets could become widely used for payments and therefore pose potential risks to the country’s financial stability.
Under the proposal, issuers would be required to hold at least 40% of their liabilities as non-interest-bearing deposits with the BoE. Rhe remaining 60% could be backed by short-term UK government securities.
The central bank is accepting feedback on the consultation until Feb. 10, 2026.
Top South Korean banks and major tech firms are positioning themselves to take the lead in the stablecoin market. Financial giants KB, Shinhan, Hana, and Woori are partnering with tech powerhouses Naver, Kakao, and Samsung Electronics to fast-track the development and issuance of stablecoins.
The Financial Services Commission (FSC) is expected to present a bill to the National Assembly by late 2025.
For more details, please follow this link.
Over the past 24 hours, 118,875 traders were liquidated across the crypto market. This resulted in total losses of roughly $344.69 million. Bitcoin accounts for the largest share of these liquidations, with $117.05 million wiped out.
Short BTC positions suffered the biggest hit, losing approximately $107.49 million, while long traders saw comparatively smaller losses of about $9.57 million.
