Injective could dip further as futures Open Interest drops

Key Takeaways

  • Injective (INJ) trades around $7.42 on Thursday, extending losses after a 5.7% decline in the previous session.
  • The futures taker buy-to-sell ratio stands at 0.96, with sell orders accounting for 51.1% of taker activity, suggesting that sellers retain a slight advantage.
  • A breakdown below the $7.19 trendline support could expose INJ to further losses toward $6.71 and $6.27, while a breakout above $8.35 could open the door to $9.41.

Injective (INJ) remains under pressure on Thursday, trading below $7.50 as declining derivatives activity and renewed selling weigh on its near-term recovery prospects.

The cryptocurrency is trading around $7.42 after losing approximately 6% during Wednesday’s session, with traders showing little conviction in a sustained rebound.

CoinGlass data reveals a steady reduction in futures Open Interest since mid-October, while market sell orders continue to outweigh aggressive buying activity.

Injective futures OI falls as traders reduce Exposure

Investor participation in Injective’s derivatives market has weakened considerably over the past several weeks.

According to CoinGlass, INJ futures Open Interest has declined by 4% in the last 24 hours and now stands at $140.77 million. 

A sustained decline typically indicates that traders are reducing their positions, potentially reflecting weaker speculative interest or uncertainty about the market’s direction.

CoinGlass data shows that sellers continue to hold a slight advantage in Injective’s futures market.

The INJ taker buy-to-sell ratio stands at 0.96, indicating that aggressive sell orders are exceeding aggressive buy orders.

A ratio below 1 generally suggests that traders executing market orders are more willing to sell into existing bids than buy from available offers.

Injective technical outlook: INJ tests the crucial $7.19 trendline support

Injective’s daily chart presents a mixed technical outlook, with the cryptocurrency trading between an important moving average and a rising support trendline.

At the time of writing on Thursday, INJ trades around $7.42, slightly below its 50-day Exponential Moving Average near $7.55.

The inability to reclaim this moving average suggests that buyers have yet to regain control of the near-term trend.

However, Injective continues to trade above an ascending support trendline around $7.19. The 200-day EMA, positioned near $6.27, also remains below the current market price.

Trading above this longer-term moving average suggests that the broader technical structure has not yet deteriorated as significantly as the recent price action might imply.

Nevertheless, momentum indicators are beginning to weaken. The Moving Average Convergence Divergence (MACD) has crossed below its signal line, indicating that bullish momentum is fading.

Meanwhile, the Relative Strength Index (RSI) stands around 44, slightly below the neutral threshold of 50.

This suggests that sellers are gaining influence, although the market has not entered oversold territory.

The ascending trendline near $7.19 represents Injective’s first important downside support.

INJ/USD Daily Chart

A sustained move below this level would weaken the current technical structure and suggest that sellers are gaining greater control.

If INJ breaks decisively below the trendline, the next significant support stands at $6.71. Failure to defend $6.71 would expose Injective to another important support region around $6.27.

Despite the recent weakness, Injective could attempt another recovery if buyers successfully defend the $7.19 support trendline.

The first obstacle stands at the 50-day EMA around $7.55. A sustained recovery above this level would suggest that buying momentum is improving and could encourage traders to target higher resistance.

The next major barrier stands at $8.35, a horizontal resistance level that limited Injective’s gains during the previous week.

A decisive daily close above $8.35 would strengthen the bullish outlook and potentially open the door for a recovery toward $9.41.

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Ethereum eyes $2k amid BitMine’s $6.3 billion loss

Key takeaways

  • Ethereum (ETH) is down 1.7% on Thursday, approaching the $2,000 psychological level. 
  • Ethereum treasury company BitMine Immersion Technologies reported a $6.3 billion annual net loss, largely driven by $6.23 billion in unrealized losses on its digital asset holdings.
  • ETH faces immediate resistance at $2,101 and $2,204, while a failure to sustain the rebound could expose the cryptocurrency to further losses toward $1,971 and $1,828.

Ethereum (ETH) is down 1.7% in the last 24 hours and is now approaching the $2,000 psychological level. 

The bearish performance followed a strong session for US technology equities, with gains in semiconductor companies and AI infrastructure providers helping restore investor appetite for risk-sensitive assets.

BitMine reports $6.3 billion annual loss as Ethereum holdings lose value

Ethereum treasury company BitMine Immersion Technologies (BMNR) reported substantial losses for its fiscal year ended August 31, 2026.

According to the company’s Form 10-K filing with the US Securities and Exchange Commission (SEC), BitMine recorded a net loss of approximately $6.3 billion.

The loss was primarily driven by $6.23 billion in unrealized fair value losses associated with its digital asset holdings.

BitMine held 5,901,837 ETH at the end of August, with a reported fair value of approximately $14.6 billion.

During the fiscal year, Ethereum’s price declined from $4,390 to $2,466, representing a loss of approximately 44%.

The sharp decline significantly affected the reported value of BitMine’s cryptocurrency portfolio.

Because the company measures its digital assets at fair value, changes in Ethereum prices are reflected in its financial results.

Ethereum price forecast: ETH faces strong resistance at $2,100

Ethereum’s technical outlook remains bearish as the sellers continue to dominate.  On the daily chart, ETH continues trading below its 20-day, 50-day, and 100-day Exponential Moving Averages (EMAs), indicating that sellers retain control of the broader trend.

The 20-day EMA stands near $2,251, while the 100-day EMA is positioned around $2,327.

Meanwhile, the 50-day EMA sits at approximately $2,348, creating another significant resistance barrier above the current market price.

The concentration of moving averages between $2,251 and $2,348 suggests that recovery attempts could face substantial selling pressure.

Momentum indicators also reflect the cryptocurrency’s weak technical position. The 14-day Relative Strength Index (RSI) hovers near 29, within the oversold region. 

Meanwhile, the Stochastic Oscillator stands around 18, indicating oversold conditions and suggesting that short-term selling pressure may be becoming stretched.

The first immediate resistance stands at $2,101, close to the psychological $2,100 level. A sustained move above this barrier could encourage buyers to target the next horizontal resistance around $2,204.

Beyond this level, ETH faces another hurdle near $2,250, reinforced by the 20-day EMA at $2,251.

A successful breakout above this resistance cluster would improve the near-term technical structure and potentially open the door for a recovery toward $2,327 and $2,348.

Further resistance stands at $2,355, followed by higher targets around $2,548, $2,636, and $2,781.

Ethereum remains vulnerable to renewed selling pressure if buyers fail to reclaim the $2,100 resistance level.

ETH/USD Daily Chart
ETH/USD Daily Chart

The first important downside support stands near $1,971. This level could attract buying interest if the cryptocurrency experiences another pullback toward the psychological $2,000 region.

However, a decisive breakdown below $1,971 would weaken the technical outlook further and expose ETH to a deeper correction.

The next significant support stands around $1,828, where buyers may attempt to establish a stronger defensive position.

A decline toward this level would represent a substantial setback for Ethereum’s recovery prospects.

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Dogecoin risks further decline as whales dump 750 million DOGE

Key takeaways

  • Dogecoin (DOGE) trades around $0.068 on Wednesday, recovering slightly after falling to a new yearly low of $0.066 during the previous session.
  • Santiment data shows that whale wallets holding between 100,000 and 100 million DOGE collectively offloaded 750 million tokens since November 3.
  • A breakdown below $0.065 could trigger further losses, while buyers must reclaim $0.077 and $0.079 to improve the cryptocurrency’s technical outlook.

Dogecoin (DOGE) is attempting a modest recovery on Wednesday after falling to its lowest price of the year, but persistent whale selling and weakening market indicators suggest that the meme coin remains vulnerable to further losses.

DOGE trades around $0.068, slightly above Tuesday’s yearly low of $0.066, as buyers attempt to stabilize the cryptocurrency following its latest decline.

However, on-chain data shows that large holders have been reducing their exposure, adding to selling pressure at a time when broader market sentiment remains fragile.

With Dogecoin trading below its major moving averages, the $0.065 support level could determine whether the cryptocurrency stabilizes or extends its broader correction.

Dogecoin whales sell 750 million DOGE as confidence weakens

Large Dogecoin holders have continued reducing their positions, contributing to the meme coin’s recent price weakness.

According to Santiment’s Supply Distribution data, three categories of whale wallets have collectively offloaded approximately 750 million DOGE since November 3.

These include wallets holding between 100,000 and 1 million DOGE, those controlling between 1 million and 10 million tokens, and larger addresses holding between 10 million and 100 million DOGE.

The decline in holdings across these groups suggests that substantial market participants have been reducing their exposure rather than accumulating during the downturn.

For Dogecoin, the latest selling activity coincides with a broader decline that pushed the cryptocurrency to a new yearly low.

Broader on-chain indicators reinforce the cautious outlook for Dogecoin. According to CryptoQuant’s market summary, both DOGE spot and futures markets are showing large whale orders alongside elevated trading activity.

The platform also identifies sell-side dominance across both markets, suggesting that selling pressure continues to outweigh buying interest.

The combination of large orders and heightened market activity can indicate that major participants are actively repositioning during periods of volatility.

The weakness in both spot and derivatives markets is particularly notable because it indicates that bearish sentiment is not limited to a single category of traders.

Dogecoin technical outlook: DOGE hits new yearly low of $0.066

Dogecoin’s technical outlook remains bearish following its decline to a new yearly low. At the time of writing on Wednesday, DOGE trades around $0.068, recovering slightly after touching $0.066 during the previous session.

Despite the modest rebound, the cryptocurrency continues trading below its major Exponential Moving Averages (EMAs), indicating that sellers retain control of the broader trend.

The 50-day EMA stands near $0.079, while the 100-day EMA is positioned around $0.081.

Meanwhile, the longer-term 200-day EMA sits at approximately $0.088, creating another significant resistance barrier above the current market price.

Trading below all three moving averages reflects the weakness in Dogecoin’s technical structure and suggests that recovery attempts could encounter renewed selling pressure.

Momentum indicators also support the bearish outlook. The daily Relative Strength Index (RSI) has declined into the low-30s, indicating weak buying momentum and suggesting that DOGE is approaching oversold territory.

Meanwhile, the Moving Average Convergence Divergence (MACD) remains slightly negative below the zero line, indicating that bearish momentum continues to dominate.

The combination of weak momentum and overhead resistance suggests that Dogecoin’s recent recovery may remain limited unless buying demand improves.

Dogecoin faces an important technical test as its price approaches the $0.065 support level. This horizontal support represents the next significant downside threshold following Tuesday’s decline to $0.066.

If DOGE fails to defend $0.065, sellers could regain momentum and push the cryptocurrency toward fresh yearly lows.

A decisive breakdown below this level would reinforce the broader bearish trend and suggest that the recent recovery attempt has failed.

DOGE/USD Daily Chart

Despite the prevailing bearish conditions, Dogecoin could attempt a short-term recovery if buyers begin accumulating near current levels.

The first resistance stands around $0.068, where the cryptocurrency is currently trading. A sustained move above this level could encourage buyers to target the next horizontal resistance at $0.077.

Beyond this barrier, the 50-day EMA near $0.079 represents another important hurdle. A breakout above the 50-day EMA would improve Dogecoin’s short-term technical structure and potentially open the door for a recovery toward the 100-day EMA at $0.081.

Further resistance stands at the 200-day EMA near $0.088, followed by the stronger horizontal barrier around $0.102.

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Solana could dip to $74 as Fed rate-hike odds hit 99%

Key takeaways

  • Solana (SOL) has declined 9% over the past seven days as US political uncertainty and growing expectations of tighter monetary policy weigh on cryptocurrency markets.
  • CME FedWatch data cited in the report shows the probability of a December Federal Reserve rate hike jumping from 84% to 99%.
  • SOL risks falling toward $74 or lower if the $80 support region fails, although an oversold Relative Strength Index (RSI) near 25 suggests a temporary recovery remains possible.

Solana (SOL) remains under significant selling pressure after losing approximately 9% of its value over the past week, with deteriorating market sentiment and weakening network activity raising concerns about further losses.

The cryptocurrency is approaching the important $80 support region as investors respond to rising expectations of a Federal Reserve interest rate hike in December.

Recent comments from Fed Governor Christopher Waller have reinforced expectations of tighter monetary policy, with the probability of a rate increase climbing to 99%, according to CME FedWatch figures cited in the report.

Fed rate-hike expectations jump to 99% after Waller’s comments

Expectations of tighter US monetary policy have intensified following hawkish remarks from Federal Reserve Governor Christopher Waller.

Speaking at a conference hosted by the Bank of England, Waller expressed support for another interest rate increase at the Federal Open Market Committee’s December meeting.

He indicated that even if inflation conditions improved compared with September, he would still favor raising the federal funds rate by 25 basis points.

Waller also suggested that more aggressive action could be necessary if inflation exceeded his expectations substantially.

The comments prompted a sharp adjustment in market expectations. According to CME Group’s FedWatch Tool figures cited in the report, the probability of a December rate hike increased from 84% the previous day to approximately 99%.

The shift suggests that traders increasingly expect the Federal Reserve to maintain a restrictive monetary policy stance.

For cryptocurrencies, higher interest rates can create a challenging investment environment.

Solana price forecast: SOL risks falling to $74 if $80 support breaks

Solana’s technical outlook remains bearish as the cryptocurrency approaches an important support region around $80.

On the daily chart, SOL is nearing a fair value gap (FVG) formed during the August rally.  For Solana, the current FVG could provide an important demand zone where buyers attempt to defend the cryptocurrency.

However, a decisive breakdown below the support region would weaken the technical structure further.

If SOL fails to stabilize around $80, the next significant downside target stands near $74. A sustained move below this level could expose the cryptocurrency to additional losses, although the supplied analysis does not identify a confirmed lower support target.

Momentum indicators also suggest that bearish pressure has intensified. The daily Relative Strength Index (RSI) has declined to approximately 23, placing Solana firmly in oversold territory.

An RSI below 30 generally indicates that selling momentum has become stretched, potentially increasing the likelihood of a temporary rebound.

SOL/USD Daily Chart

Despite the prevailing bearish conditions, Solana’s oversold momentum readings suggest that buyers could attempt a recovery near the current support region.

The $80 area remains particularly important because it coincides with a fair value gap that could attract buying interest.

A successful defense of this region could encourage a short-term rebound, potentially allowing SOL to recover toward its nearest significant resistance around $95.

Conversely, failure to defend $80 would increase the likelihood of a decline toward $74.

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Bitcoin could dip to $67k amid $1.3 billion ETF outflows

Key takeaways

  • Bitcoin (BTC) trading volume surged more than 200% over 24 hours as the cryptocurrency fell toward $75,000. 
  • US spot Bitcoin ETFs recorded approximately $1.3 billion in weekly net outflows, while the Crypto Fear and Greed Index dropped to 28. 
  • Bitcoin risks extending its decline toward $71,500 and $67,000 after losing its 200-day Exponential Moving Average (EMA). 

Bitcoin (BTC) remains under heavy selling pressure as trading activity surges and investors reassess the cryptocurrency market’s outlook following the US midterm elections.

The world’s largest cryptocurrency recently fell toward $75,000, triggering a sharp increase in market activity. 

Bitcoin’s trading volume jumped more than 200% over 24 hours, reflecting heightened volatility as traders reacted to deteriorating sentiment and significant leveraged position liquidations.

Bitcoin ETF outflows reach $1.3 Billion as institutional investors retreat

Institutional demand for Bitcoin has weakened sharply, with US spot ETFs recording substantial withdrawals during the latest market correction.

According to SoSoValue, Bitcoin ETFs experienced approximately $1.3 billion in net outflows over the past week.

The outflows continued, with another $201.80 million withdrawn from the funds on Monday. 

The persistent redemptions suggest that institutional investors are becoming increasingly defensive amid regulatory uncertainty and broader cryptocurrency market weakness.

Consequently, sustained withdrawals can influence market sentiment and potentially increase selling pressure.

The latest outflows also suggest that Wall Street investors are adopting a more cautious approach toward cryptocurrency investments.

The deterioration in market sentiment is also reflected in the Crypto Fear and Greed Index.

The widely followed sentiment indicator has declined to 27, placing the cryptocurrency market firmly in Fear territory.

This represents a substantial shift from approximately 45 days earlier, when the index reached 80, indicating Extreme Greed.

The sharp reversal suggests that investors have moved from aggressive risk-taking toward a more defensive approach.

The Fear and Greed Index considers several market indicators, including volatility, momentum, trading activity, and broader investor sentiment.

Bitcoin technical outlook: BTC risks falling toward $67,000

Bitcoin’s technical outlook has weakened considerably following its recent decline toward $75,000.

The cryptocurrency briefly rebounded from the psychological support level during the latest trading session, but its broader structure remains bearish after falling below the 200-day Exponential Moving Average (EMA).

Trading below this moving average suggests that Bitcoin’s previous bullish momentum has weakened, potentially encouraging additional selling.

Momentum indicators reinforce the negative outlook. The daily Relative Strength Index (RSI) has fallen below 40, indicating deteriorating buying momentum and suggesting that sellers remain in control.

If Bitcoin fails to reclaim the $75,000 resistance level, the next important downside target lies around $71,500.

This region corresponds to a fair value gap (FVG) formed during the August rally, where previous price imbalances could attract buying interest.

A decisive breakdown below $71,500 would expose the next major support zone around $67,000. Both levels represent important technical areas that could determine whether Bitcoin stabilizes or extends its broader correction.

BTC/USD Daily Chart
BTC/USD Daily Chart

Bitcoin’s ability to hold the $71,500 and $67,000 support zones could prove critical for its near-term outlook.

A successful rebound from either zone could help stabilize sentiment and potentially encourage a recovery toward $75,000.

However, failure to hold $67,000 would represent a more significant technical setback. Such a breakdown could open the door for a deeper correction toward $60,000, a major psychological support level associated with previous market activity.

Conversely, a sustained recovery above $75,000, accompanied by stronger trading demand and improving ETF flows, would provide an early indication that selling pressure is easing.

For now, Bitcoin’s technical outlook remains bearish while BTC struggles below its 200-day EMA, with $71,500 and $67,000 emerging as the most important downside support levels.

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