Since Oct 1, two of the biggest corporate bitcoin names went opposite ways.
Strategy bought 2,698 BTC.
MARA sold 13,597.
The miner sold 5x what Saylor added.
MARA's sale, by the numbers:
About 40% of its 34,012 BTC stack
6x everything it mined in Q3 (2,247)
$1.1B at roughly $81,039 a coin, about 10% above today's ~$73,800
$750M went to paying off bitcoin-backed loans. The rest is earmarked for things like AI data centers, and MARA says more sales are coming.
Miners were supposed to be the ultimate holders. When the company that makes bitcoin decides a power plant beats the coin, that's a signal. With ETFs bleeding too, Strategy can't be the only bid forever.
$BTC $MARA $MSTR
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In case you didn't watch the markets yesterday:
📈 S&P 500: 7,549.94, +2.35%, its best day since April 8
📈 Nasdaq: 25,253.14, +2.74%
📈 Dow: 52,389.75, +1,104 points, +2.15%
🔻 Nvidia: -4.27% to $178.67, lowest close since April 7, after its board opened a probe into CEO Jensen Huang
🔌 Everyone else in chips ripped: AMD +13%, Broadcom +9%, Micron +6%
🛢️ WTI crude: -4.4% to $86.85, Brent -5.9% to $92.57
😮💨 VIX: 19.92, down from 25.64
🥇 Gold: about $4,140
🏦 10-year yield: about 4.87%
🚀 Rocket Lab: +11% in the session, then about -5% after hours on a wider Q3 loss despite record $268M revenue
🔻 Hims & Hers: about -3% after hours on a Q3 loss and a guidance cut
₿ Bitcoin: about $74.5K
Ξ Ether: about $2,110
📅 October CPI is out this morning
$SPY $QQQ $DIA $NVDA $AMD $AVGO $MU $RKLB $HIMS $BTC $ETH
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Bitcoin took Thursday's crash with stocks. Then it skipped the bounce.
Thursday, Nov 5:
Nasdaq -5.5%
S&P 500 -4.4%
IBIT (BlackRock's bitcoin ETF) -5.1%
Friday and today:
Nasdaq +1.1%, then +2.7%
S&P 500 +0.3%, then +2.3%, best day since April
IBIT -0.4%, then -1.3%
Since Wednesday's close:
Nasdaq -1.9%
S&P 500 -1.8%
IBIT -6.7%
Gold rose 1.8% today. Bitcoin couldn't hold $75K.
Meanwhile:
$1.28B left spot bitcoin ETFs last week, the most since late June
$1.2B in crypto liquidations in 24 hours, $1.04B of it longs
$BTC $IBIT $QQQ $SPY
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oil is already trading like the war is over
brent settled $92.57, -5.85% today, lowest since aug 31
wti $86.85, -4.4%
brent fell 16% last week, worst week since covid
but the blockade is staying per this. if talks stall does that premium come right back
BREAKING: President Trump says the US is seeing “positive momentum” toward ending the Iran War following discussions with Qatar’s Prime Minister.
Trump also says Qatar, Saudi Arabia, UAE, Bahrain, Kuwait, and other nations favor maintaining the current naval blockade of Iran and “Operation Iron Gate.”
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banks keep piling in but usdc supply is actually shrinking rn
$USDC supply ~$70.4B
down ~$1.3B this week
down ~3.6% over 30 days
~24% of the ~$294B stablecoin mkt
pilot is incoming only, no fees or client count disclosed. adoption headlines vs actual float, which one wins
JUST IN: 🇺🇸 PNC Bank begins testing USDC stablecoin payments on Ethereum for corporate and institutional clients.
PNC Bank also begins testing conversion of $USDC crypto stablecoin payments into US dollar deposits.
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Nvidia's first price after the Jensen Huang news wasn't set on Nasdaq. It was set on crypto exchanges.
The board announced its probe on Sunday. U.S. stock markets were closed.
So traders went to 24/7 perpetual futures:
Binance's NVDA perp did $360M in 24 hours, 44% of the top 8 venues
Its low: 4.2% below Friday's $186.64 close, about $178.80
All 8 venues together: roughly $0.8B to $1.1B
Then Nasdaq opened:
Monday open: about $173, down 7.3%
Low so far: $170.24, down 8.8%
Mid-morning: back near $179
The weekend market got the direction right and undershot the size. Then the stock climbed back to almost exactly the weekend perp low.
For scale: Friday's regular session traded about 180M shares, over $33B. The weekend market was about 3% of that, and it still moved first.
When news breaks on a Sunday, the first price now comes from crypto rails. That's not a sideshow anymore. The next shock won't wait for the opening bell either.
$NVDA $BNB
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Taiwan just had its second-biggest up day ever. It barely dented the hole.
Taiex today: +1,960 points, +4.94%, to 41,661.70
Only July 31 (+3,186) was bigger in points
It snapped a 7-session losing streak
121 stocks closed limit-up, including MediaTek and Delta
The trigger: Taiwan's state stabilization fund approved market intervention, the 10th time since 2000.
Now the math:
Oct 6 intraday high: 49,968.92
Friday close: 39,701.64, down 20.55%
Still needed after today: +19.9% to get back
The fall took a month. The 5% bounce took one day. The other 20% is the hard part.
Rescue-fund rallies buy time, not conviction. TSMC is over 40% of the index, so Taiwan's recovery runs through the same AI spending question hanging over Nvidia.
$TSM $EWT $SMH
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In case you didn't watch the markets on Friday:
📈 S&P 500: 7,376.86, +0.31%
📈 Nasdaq: 24,579.42, +1.09%, bouncing after Thursday's correction
📉 Dow: 51,285.73, -0.46%
🗓️ Week: S&P -2.7%, Nasdaq -3.4%
🔌 Chips rebounded: AMD +11%
🚀 IonQ +23% after raising its full-year revenue guide to $505-515 million
🔻 Axon -18% on a Q3 miss and a guidance cut
🔻 DraftKings -21% on a wider Q3 loss
😬 VIX: 25.64, down from 28.18
🏦 10-year yield: 4.86%
🛢️ WTI crude: about $90
🥇 Gold: about $4,080
₿ Bitcoin: about $74.5K this morning
Ξ Ether: about $2,120, down roughly 5% since Sunday
$SPY $QQQ $DIA $AMD $IONQ $AXON $DKNG $BTC $ETH
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futures kinda shrugged it off but nvda was already beat up going in
$NVDA fri close $186.64
-9.3% thursday
-8.8% on the week
~23% off the $243.37 52wk high
nq futures dipped ~1% at the open, now near flat
key man risk is the real question, monday open gonna be interesting
BREAKING: Nasdaq 100 futures fall over -1% in their first reaction to Nvidia, $NVDA, CEO Jensen Huang confirming his "romantic relationship" with a Chinese spy.
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btc actually held up ok in that flush, eth is the one getting hit
$BTC ~$74.3K, -1.8% 24h, low around $73.4K
$ETH ~$2,120, -5% 24h
$XRP -4%, $SOL -3%
eth/btc down to 0.0285
feels like alts take the real damage every time btc wobbles
BREAKING: $1,000,000,000 liquidated from the crypto market in the past 10 minutes.
$BTC falls under $74,000
$ETH falls under $2,125
$XRP falls under $1.10
$SOL falls under $90
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Bitcoin is down 26% in a year.
The two coins built to hide transactions more than doubled against it.
Nov 8, 2025 to today:
BTC: $102,282 to $75,833 (-26%)
XMR: $365 to $605 (+66%)
ZEC: $604 to $1,262 (+109%)
Priced in bitcoin, Monero is up 123%.
Zcash is up 182%.
Monero alone is now worth about $11.4B, roughly 0.45% of the entire crypto market.
in a year when the biggest coin bled, the market paid up for the one thing bitcoin doesn't give you by default. Privacy stopped being a side bet and turned into a hedge against bitcoin itself.
$BTC $XMR $ZEC
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oil already moved a lot on this last week
WTI dec settled $90.83 fri vs $104.12 a week earlier, -12.8%
Brent jan $98.32 vs $113.43 on the same contract, -13.3%
Brent-WTI spread down to about $7.49
curious if WTI holds 90 when futures reopen tonight
IRAQ HAS REACHED UNDERSTANDINGS WITH US TO ALLOW OIL EXPORTS THROUGH STRAIT OF HORMUZ VIA SHIPPING LANE CLOSE TO OMAN, EXPORT OPERATIONS REMAIN ONGOING - REPORT CITING IRAQI FOREIGN MINISTER
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IonQ just grew revenue 336%. The number that matters is 127%.
Q3 revenue: $173.8M vs $39.9M a year ago
But $83.5M of that is SkyWater, the chip foundry it bought in July (two months of sales)
The core quantum platform alone: $90.3M, up 127%
Still a great quarter. Just not a 4x one.
Same story on the bottom line:
Reported net income: $564M
Operating loss: $433M
The gap is an $896M non-cash gain on warrants
What the market did with it:
Stock +23.4% Friday to $32.62
Still about 26% below its Sept 30 close of $43.86
2026 guide raised to $515M
Backlog: $1.2B
More than doubling the core quantum business in a year is a genuine milestone. But the headline numbers flatter it twice, and the stock is still pricing in that doubt. Read the segments, not the headline.
$IONQ
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