Let’s explore the latest crypto market updates today, on Nov. 7.
Bitcoin BTC $87 703 24h volatility: 1.3% Market cap: $1.75 T Vol. 24h: $39.71 B is trading below the $102K level, meaning it has lost nearly 1% over the last 24 hours. The total cryptocurrency market capitalization is also down by around 1%, currently standing at $3.7 trillion. What key events could influence the crypto market today, on Nov. 7?
Dogecoin surged 6.5% to $0.17 after Tesla shareholders approved Elon Musk's record $1 trillion compensation package with over 75% support, outperforming Bitcoin and Ethereum which posted losses of 2% and 3% respectively.
Dogecoin price outperforms top 10 cryptocurrencies on Nov. 7, 2025 | Source: Coingecko
Derivatives trading spiked 41% with open interest rising 10.5%, reflecting intense speculative activity tied to Musk’s milestone and his historical influence on the memecoin’s price movements.
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JPMorgan Chase increased its BlackRock Bitcoin ETF (IBIT) holdings by 64% to 5.28 million shares worth $343 million, signaling a dramatic shift from CEO Jamie Dimon's previous stance calling Bitcoin a “fraud.”
In a 13F filing today, JP Morgan reported holding 5,284,190 shares of IBIT valued at $343 million as of September 30.
— MacroScope (@MacroScope17) November 7, 2025
That's a 64% increase from 3,217,056 shares previously reported as of June.
The filing also reported IBIT calls valued at $68 million and puts valued at $133…
The accelerated accumulation reflects growing institutional appetite for cryptocurrency exposure through regulated ETF products, coinciding with Bitcoin maintaining support above $100,000 despite recent market volatility.
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Strategy completed a €620 million preferred stock offering at €80 per share, expanding 121% from its initial proposal, with an effective 12.5% annual yield to investors.
The proceeds will fund Bitcoin acquisition and operations, marking the company’s seventh capital raise in 2025 totaling approximately $14 billion for its Bitcoin accumulation strategy.
Read more details here.
NEAR Protocol (NEAR) has surged 24.33% to become the 32nd largest cryptocurrency with a $3.14 billion market cap, surpassing Trump-backed tokens and AAVE amid explosive growth in its Intents protocol.
The protocol has generated $5.44 million in fees and approaches $4 billion in total volume, with trading volume spiking 232% to $858 million in 24 hours.
Read more details here.
Bitcoin (BTC) is back under $ 100K. It is a sign of strong bearish momentum in the crypto market today, on Nov.7.
This drop is largely fueled by institutional outflows and shifting investor sentiment.
Broader macroeconomic factors have also weighed heavily on the market. Persistent high interest rates and fears of slowing global growth have pushed investors away from risk assets.