Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
After the weekend increase in crypto prices, Bitcoin slipped 3% to around $107,000 at the opening of the week, while Ethereum trades below $3,700 already and most of the top 10 coins are printed red. Traders woke up to a typical Monday: low volumes, high fear and an ongoing DeFi exploit cutting into liquidity pools.
TL; DR
- OG Ethereum decentralized exchange Balancer loses about $128.6 million in seven chains.
- XRP trading below the daily and weekly midbands at $2.47 and $2.81, respectively.
- Bitcoin analyst compares BTC phase to IPO distribution cycle.
Major DeFi protocol balance suffers $130 million hack
Balancer’s The treasure wallets were wiped out overnight in what PeckShield calls a coordinated multichain exploit. Visible traces show total transfers of $128.64 million in packaged ETH derivatives and staking tokens:
- 6,587 WETH worth $24.46 million.
- 6,851 osETH worth $26.86 million.
- 4,260 wstETH worth $19.27 million.
- More losses on Arbitrum ($6.86 million), Berachain ($12.86 million), BASE ($3.9 million), SONIC ($3.44 million), Optimism ($1.58 million), Polygon ($232,000).
The exploit targeted multiple times simultaneously, involving a compromised administrator key or a shared contract vulnerability. PeckShield confirmed the continued movement of assets between ethereum mainnet and satellite L2 chains, for a total of $99 million.
DeFi analysts note that this marks the largest Balancer incident since 2023 and comes amid low TVL recovery rates in the sector. Risk dashboards now list total DeFi losses in 2025 above $2.8 billion YTD, pushing the protocols into emergency mode again.
Market reaction has been limited – ETH’s 5% drop to $3,700 probably mixes hacker sentiment with macro uncertainty – but the erosion of confidence is visible. TVL trackers show about 400 million dollars in withdrawals in a few hours, while audit firms rush to publish quick post-mortems. The phrase “classic Monday in crypto” has rarely sounded this literal.
Forget $3 XRP, Bollinger Bands Warn
XRP closed at $2.40 after sliding 4.9% on the day, and now the daily and weekly Bollinger Bands confirm a bearish bias:
- Daily midband $2.47: Price below the lower range with $2.26 as the next major support.
- Weekly midband $2.81: Failed to recover since October.
It is clear that the structure has been under pressure for a while, and it seems that it will continue to fall. Since September, each breakout meets resistance around $2.70-$2.80, creating a clear supply zone. Unless volume goes above $2.90, $3 is still out of the question.
The historical strength of November for XRP is an average of +81%, but this cycle is different. The weekly chart shows that this is the first time since Q1, the close has been below the 20-week band. Usually, this configuration leads to a drop for 2-3 weeks before things reverse. The weekly chart shows the first confirmed close below the 20-week band since Q1, a setup that typically extends 2-3 weeks before reversal.
The next demand area is around $2.10. For now, Bollinger’s message is simple: forget $3 until the market proves otherwise.
Bitcoin Is Going Through IPO, Says Wall St. Veteran
Jordi Visser, Wall Street manager offer one of the most measured takes this quarter – Bitcoinsays, it is not “dead money” but in its own IPO phase.
Visser says that the market is moving from the first holders to a wider range of institutions: the old whales are diversifying, and the new funds are accumulating. This creates a sideways range with occasional sales peaks – not a collapse, but a transition.
Visser draws a parallel to traditional post-IPO equity behavior: after listing, companies often enter distribution months while early investors take profits and new investors build positions. Bitcoin is now in its first truly liquid cycle.
This “IPO logic” also explains why the correlation of BTC to NASDAQ is still weakening – institutional capital sees it as a diversifier, not a technology proxy.
‘80% drawdowns are in the past; 10x rallies become 3x, but the network finally qualifies for corporate budgets.”
His math is simple: if 100 people own half of the supply and one sells, 0.5% of it reaches the market. However, if a million people own half, 10,000 sales equal to the same 0.5%, spread over time and price.
Bitcoin’s $107,000 today may seem painful, but it’s actually the calmest redistribution phase it’s had in its 15 years.
Outlook
The focus is on the American session – whether the institutional desks buy the Balancer dip or wait for the clarity of the audit. Until then, the crypto begins its first week of November on the defensive, looking at the liquidity of more than candles.
- BTC: Watch $109,000 band for confirmation of recovery of support. Below $105,000 opens a test of $102,000 – the Black Friday wick area.
- XRP: Need to close daily above $2.70 to neutralize the bearish setup.
- Macro: US PPI and NFP later this week will define Friday’s volatility.
