rewrite this title Mid-November Market Recap: Bitcoin Holds $100K, ETH Regains Balance, TON Steps Into Payments

by
Alisa Davidson

Published: November 10, 2025 at 10:00 am Updated: November 10, 2025 at 7:36 am

by Ana

Edited and fact-checked:
November 10, 2025 at 10:00 am

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We’re now moving deeper into November, and it finally feels like the market’s found some kind of footing — not a confident one, more like the wobbly stance you take after slipping on ice but somehow not falling. Bitcoin defended the big round $100K level, Ether stopped short of breaking under $3K, and TON clawed its way off the floor near $1.8. Prices are nudging higher as I write, but the scars from the October–early-November tumble are still visible everywhere. The real question is whether this bounce is the start of something, or just one of those tired bear-market reflexes that lure everyone back in before fading again.

Bitcoin (BTC)

BTC spent most of the week hanging out in that murky $100K zone — a level that’s now become both a psychological and technical anchor. We dipped a little under, poked a little over, and by Friday the chart started to look less like a crash and more like consolidation. It’s funny how quickly sentiment shifts: early in the week, feeds were full of death-cross talk and “new bear market confirmed” charts; by the weekend, the mood was “maybe that was the bottom.”

BTC/USD Chart, Coinbase. Source: TradingView

Part of the calm came from ETF flows finally turning green again. 

Spot Bitcoin ETF flows from Oct. 29 to Thursday. Source: Farside Investors

After almost a week of outflows, the market got that $240 million inflow day — not huge, for sure, but still symbolically important. It reminded everyone that institutions hadn’t totally left the chat. 

Pair that with JPMorgan’s note saying BTC looks “cheap next to gold,” and you could sense traders collectively unclenching a little. Still, under the surface, there’s clearly signs of fatigue across the board: miner margins are squeezed, liquidity’s thinner, whales are reportedly trimming. So it’s not exactly risk-on euphoria — more like a fragile truce between buyers and sellers.

The difference between BTC prices and gold adjusted for volatility. Source: JP Morgan

If you forced a call: I’d say Bitcoin’s probably bottoming, but still inside its post-crash box. The $105–109K area is the line in the sand — flip that, and people will start believing again. Lose $100K decisively, and the whole “accumulation phase” narrative evaporates overnight.

Ethereum (ETH)

ETH basically mirrored Bitcoin this week, as it always does when the macro tone dominates. It wicked down to around $3K early on, scared a few leverage junkies out of their positions, then slowly crawled back toward $3.5K. Not a bad recovery, but when you zoom out, you can see how much room there is overhead — all those untapped wicks from October still waiting to be revisited. 

ETH/USD Chart, Coinbase. Source: TradingView

What’s been interesting is the split in sentiment: derivatives data shows traders still hesitant, while social chatter has quietly flipped bullish again.

ETH monthly futures annualized premium. Source: laevitas.ch

 A few analysts called it a “massive bear trap,” arguing that ETH’s fundamentals haven’t changed and that this whole dip was mostly leveraged positioning unwinding.

You can kind of see their point — layer-2 throughput is hitting record highs while DeFi volumes are stabilizing. Also, he Ethereum Foundation’s new funding model adds a sense of structure that’s been missing for a while. 

Source: Anthony Sassano

But with spot ETH ETFs seeing soft demand and BTC still calling the shots, any ETH rally feels conditional. If Bitcoin holds its footing, ETH has a clean shot at $3.8–3.9K; if not, we’re right back at $3.1K before you can say “funding flip.”

Toncoin (TON)

ToncoinTON’s week was surprisingly lively beneath the surface. After tagging lows near $1.8, it slowly worked its way back above $2.1, and this time there was actual news flow behind the move.

TON/USD Chart. Source: TradingView

AlphaTON Capital doubled down on its bet, scooping up another 300,000 TON and, more importantly, announcing a joint venture with PagoPay and ALT5 Sigma to launch a TON-powered Mastercard. That’s probably the single most price-impactful headline of the week for the ecosystem, as it’s a real-world use case that lets holders actually spend their tokens directly. It gives TON something most networks only talk about: tangible payments integration.

Source: Alphaton Capital

On top of that, validators set November 12 as the vote date for an upgrade introducing a regulated stablecoin, reportedly USDC, which could anchor liquidity and open doors to new on-chain finance use cases. Even Telegram added fuel with beta-testing gift auctions inside the app, making digital collectibles tradeable in a more market-driven way — again, subtle reinforcement of TON’s growing role inside Telegram’s ecosystem.

Source: TON Status

All in, that’s a pretty constructive set of catalysts for a coin that’s been doing little more than mirroring Bitcoin’s mood lately. A push through $2.2 would start looking like genuine follow-through, whereas under $1.95, it’s back to square one.

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles