Optimism returns
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 11th November 2025.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
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What’s up
Worm Turns, Especially For ETH
Stocks and gold shot higher on Monday, buoyed by rising hopes for an end to the U.S. government shutdown. Bitcoin and Ethereum each held fairly steady with the latter even shading slightly green over a seven-day time frame as of today at about 9 a.m. (EST).
For its part, BTC is flat on the week, at just shy of $104.4K. ETH, on the doorstep of $3,600, is enjoying its own unique strain of good vibrations via some on-chain data showing whales accumulating ahead of a scalability-focused upgrade.
Additionally, yesterday, the U.S. Treasury Department and the Internal Revenue Service issued new guidance that opens the door for crypto products to generate staking yield, which could, says Decrypt, significantly increase mainstream adoption of Proof-of-Stake (PoS) chains, such as Ethereum and Solana.
What's down
Crypto ETFs Running On Fumes
The U.S. Senate approved a funding package that would end the government shutdown, now entering Day 41. This harried legislation now moves to the House of Representatives which is expected to put it to a vote as early as tomorrow. Federal government activities potentially returning to normal, thus removing from the wall of worry a wisteria vine of potential negative impacts, in itself proved negligible as a factor impacting crypto fund flows. On Monday, as the S&P 500 bounced, and gold flirted with three-week highs, spot BTC ETFs garnered just $1.2M worth of inflows, according to Cointelegraph.
The lack of demand for spot BTC ETFs is raising red flags.
“Bitcoin ETFs saw NO bid yesterday,” cautioned Capriole Investments’ founder Charles Edwards. “Risk assets usually see a strong bid … coming out of the shutdown. Still time to turn this ship around. But it needs to turn.”
What's next
A Hectic, Hopeful Time Of Year
It’s not even Thanksgiving yet but already Christmas fills the air. We’ve got plummeting temperatures, yuletide-themed t.v. commercials and a sugary holiday recipe pairing the phrases “crypto rally” and “ho, ho, ho!”
According to CoinDesk, Bitcoin’s recent brutal stretch may well wind up as prologue to a year-end rebound, or the so-called “Santa Claus Rally” that has often given crypto markets a boost come December.
Some theories hold that traders are positioning for year-end optimism — as a brand-spanking new year beckons — and also there’s usually scant holiday trading, amplifying price moves.
BTC has closed six of the past eight Decembers in the green, per Coinglass data. The monthly gains in those up years have ranged from 8% to 46%, indicating, CoinDesk asserts, a “consistent seasonal tailwind.”
“We’re observing a shift from panic selling to strategic accumulation by long-term holders,” said Nick Ruck, director at LVRG Research. “This recovery trajectory, bolstered by anticipated Fed rate cuts and institutional adoption, positions the market for a robust Santa rally.”
