Bitcoin, Dogecoin Steady, While Ethereum, XRP Dip: Analyst Calls BTC Accumulation by Major Cohorts During Selloff a 'Bullish Signal'
Aniket Verma 13 hours ago
MarketsNewsCryptocurrency
Leading cryptocurrencies failed to gain momentum on Monday, November 9, lagging stocks as investors weighed the prospects for de-escalation in the Iran conflict.
Leading cryptocurrencies failed to gain momentum on Monday, lagging stocks as investors weighed the prospects for de-escalation in the Iran conflict.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 8:32 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +0.20% | $74,922.04 |
| Ethereum (CRYPTO: ETH) | -0.30% | $2,122.33 |
| XRP (CRYPTO: XRP) | -0.90% | $1.10 |
| Solana (CRYPTO: SOL) | -1.10% | $86.33 |
| Dogecoin (CRYPTO: DOGE) | +0.80% | $0.06985 |
Crypto Market Stagnant
Bitcoin moved between $73,700 and $75,500, as Ethereum hovered in the early $2,100s after a steep sell-off on Sunday.
Cryptocurrency-related stocks fell, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 2.59% and 0.80%, respectively.
Over $275 million was liquidated from the cryptocurrency market in the last 24 hours, with Coinglass data showing $176 million in bullish long positions evaporated.
Bitcoin’s open interest spiked 2.35% over the last 24 hours. Meanwhile, retail and whale derivatives traders on Binance remained net long on Bitcoin, with sentiment firmly skewed bullish.
Top Gainers (24 Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 8:32 p.m. ET) |
| Pieverse (PIEVERSE) | +39.10% | $2.05 |
| Avalanche (AVAX) | +9.00% | $8.70 |
| Jupiter (JUP) | +8.22% | $0.2538 |
The global cryptocurrency market capitalization stood at $2.601 trillion, up 1% over the last 24 hours.
Stocks Start the Week on a High
The Dow Jones Industrial Average gained 1,104.02 points, or 2.15%, to end at 52,389.75. The S&P 500 added 2.35% to close at 7,549.94, while the tech-heavy Nasdaq Composite rose 2.74% to settle at 25,253.14.
The United States Oil Fund (NYSE:USO), which tracks West Texas Intermediate crude oil, finished the session 3.87% lower at $142.66 as President Donald Trump signaled over the weekend that the U.S. is unlikely to resume military strikes against Iran.
Meanwhile, Secretary of State Marco Rubio said that negotiations with Iran were not approaching a breakthrough, calling Tehran’s demands “outrageous and ridiculous.”
Analyst Spots BTC Bullish Signal
On-chain analytics firm CryptoQuant noted that Bitcoin’s Spent Output Profit Ratio for short-term holders remained below the 1 break-even threshold, suggesting short-term investors are, on average, moving at a loss.
Additionally, the Market Value to Realized Value ratio stood at 1.40, suggesting the broader market “retains unrealized gains.”
“A lasting recovery requires SOPR above 1… What matters is not just a Bitcoin rebound, but whether real buyers return,” the analytics firm stated.
Why Bitcoin’s Rebound Keeps Failing: Short-Term Holder Losses and Shrinking Stablecoin Reserves
— CryptoQuant.com (@cryptoquant_com) November 9, 2026
"Recently moved coins held by short-term investors are, on average, moving at a loss." – By @xwinfinance pic.twitter.com/nbZI4RCjoI
Santiment reported that key stakeholders accelerated Bitcoin accumulation as the coin corrected to $75,000. Over the past two weeks, wallets holding 1–10 BTC and 10–100 BTC added more than 14,000 BTC.
“More than 14K BTC moving into these cohorts during a major selloff is a bullish signal, especially if the trend continues while crowd sentiment remains heavily bearish,” Santiment added.
🚨 Smart-Money BTC Wallets Keep Buying The Dip While You Worry!
— Santiment Intelligence (@SantimentData) November 9, 2026
🐋 Bitcoin’s 1 to 10 BTC wallets have added 10,076 BTC over the past two weeks, while 10 to 100 BTC wallets added another 4,131 BTC. Accumulation has accelerated among these key stakeholders, while Bitcoin fell… pic.twitter.com/KtNKbeOlrb
Photo courtesy: Shutterstock