Bitcoin traded in a tight range near $75,000–$76,000 for much of November 8 before settling lower, closing the CoinMarketCap snapshot at $74,585, down 1.54% on the day. The asset remained on track for a fifth consecutive weekly loss. Total market capitalization hovered near $2.54 trillion with 24-hour volume around $29 billion and Bitcoin dominance near 60%. Ethereum lagged more sharply at $2,121, down 5.16%. Broader altcoins underperformed, with reports noting that 40 of the top 50 coins were lower on the week in one snapshot.

ETF outflows flip 2026 flows negative
U.S. spot Bitcoin ETFs suffered their worst week since late June, posting $1.28 billion in net outflows for the week of November 2–6, according to SoSoValue data. This erased the funds’ year-to-date gains and left them with roughly $914 million in net outflows for calendar 2026. Daily flows were negative on Monday ($398.6 million), Tuesday ($115.6 million), Thursday ($430.2 million), and Friday ($411.9 million), with only a modest $74.6 million inflow on Wednesday. BlackRock’s IBIT drove the bulk of the selling—roughly $403 million on Friday alone. Spot ether ETFs also extended a losing streak, shedding $365.3 million for the week. The outflows coincided with post-midterm market pressure, a stronger-than-expected jobs report that raised December Fed rate-hike odds, and broader risk-asset weakness. Cumulative inflows since the January 2024 launch remain substantial at roughly $55–56 billion, but the reversal of 2026’s positive balance marks a clear deterioration in institutional demand.

Vitalik Buterin on ETH as a store of value
Ethereum co-founder Vitalik Buterin argued on X on November 8 that the network should focus on positioning ETH primarily as a store of value rather than optimizing around transaction-fee burns. “ETH as store of value (SoV) makes much more sense to focus on than ETH as fee-burning token,” he wrote. He outlined that the fee-burn thesis was never as strong as it appeared in the 2021–2023 cycle, that maximizing fees can conflict with decentralization and censorship resistance, and that SoV aligns with Ethereum’s core strengths in security, privacy, and long-term stability. Buterin endorsed keeping EIP-1559 intact but said holders should not be concerned even if burns remain below 10% of break-even indefinitely. “The value of ETH comes from elsewhere.” ETH traded near $2,120–$2,240 on the day of the posts.

Binance France sets December 31 account closures
Binance France notified customers that all accounts will close as of December 31, 2026, citing an orderly cessation of activities after the entity failed to secure a Markets in Crypto-Assets (MiCA) authorization before the end of the transitional period. Deposits are already blocked; withdrawals remain open. From November 29, remaining balances will incur a monthly maintenance fee of 0.025% (minimum 10 USDC). Only fully emptied accounts before that date avoid the charge. Assets left after December 31 may be treated as inactive and subject to conversion, transfer, or other handling under Binance’s terms. The move follows progressive service restrictions across parts of the EU.

Keplr/Web3Auth wallet incident
Keplr Wallet paused Google and Apple logins after reports of unauthorized transactions on accounts created via social login (powered by Web3Auth). Accounts secured by recovery phrases or hardware wallets were unaffected. Web3Auth stated that a vulnerability in its infrastructure exposed certain private keys and that it conducted white-hat recovery operations, moving funds from vulnerable wallets to published recovery addresses holding roughly $5.6–6.0 million. On-chain analysis initially flagged large outflows from tens of thousands of Cosmos-ecosystem and Injective wallets. Final loss figures and the return process for affected users remain subject to ongoing verification.

Other developments
Core Scientific indicated it expects to complete its exit from Bitcoin mining by the end of 2026 and enter 2027 as a pure-play high-density colocation/AI data-center provider. AI/HPC leasing has grown to roughly 92% of revenue in recent periods. The Bank of Russia finalized rules allowing non-qualified retail investors to purchase Bitcoin, Ether, and USDT through licensed intermediaries starting November 17, 2026. A Finnish project has deployed approximately 30 Bitcoin mining systems that double as residential heating; at prices above roughly $70,000, each unit generates slightly more revenue than the electricity it consumes. Binance reopened withdrawals for Hyperliquid’s HYPE and Aptos’s APT on November 8 as part of the progressive restoration of services following its October 29 security incident. Separately, Binance’s once-significant Bitcoin mining pool has nearly disappeared from block-production rankings ahead of a planned November 10 closure.

The week’s price action reflected ETF outflows, post-election and macro sensitivity, and residual pressure from earlier security events. With Bitcoin on track for a fifth straight weekly loss and institutional flows turning negative for 2026, near-term volatility is expected to remain elevated as markets continue to digest the jobs data, regulatory shifts, and ongoing exchange recovery efforts. All market figures are sourced from CoinMarketCap’s November 8 historical snapshot unless otherwise noted. Prices are volatile; always verify live data.