important notes
- Ki Yong-joo explained that strategies and ETFs neutralize the selling pressure of whales.
- 96% expect the US government to reopen this week.
- The cryptocurrency market is showing bearish volatility and a gradual correction.
After nearly five weeks of dominant decline, hopes of US economic relief gave crypto markets some breathing room on Monday, November 10th.
CryptoQuant CEO Ki Young-joo talks about Bitcoin
BTC
$105 137
24 hour volatility:
0.8%
Market capitalization:
$2.10 trillion
Vol. 24 hours:
7.017 billion dollars
Since reaching $100,000 in assets, Whale has continued to sell “billions of dollars.”
Bitcoin whales have continued to cash out billions of dollars since $100,000.
I said earlier this year that the bull cycle was over, but MSTR and ETF inflows have lifted the bear market. Once these conditions fade, sellers will again have the upper hand.
There is still strong selling pressure, but given the macro outlook…
— Ki Young-ju (@ki_young_ju) November 11, 2025
He even believed that “the bull cycle is over.” However, Young Ju added that strong buying by BTC treasury firms Strategy and Metaplanet sustained the bullish market.
“There is still strong selling pressure, but if you think the macro outlook is strong, now is a good time to buy,” said the CryptoQuant CEO.
The market capitalization of cryptocurrencies rose by about $150 billion on November 10, after news broke that the impasse that had been in place since October 1 was broken by a Senate vote. CoinSpeaker reported that seven Democratic senators and one independent senator joined Republicans in a 60-40 vote to “call for a shutdown.”
This caused the market to leave a situation of “extreme fear” and BTC to rise above the $100,000 mark.
Will the government reopen this week?
Despite a gradual decline in the current $3.54 trillion crypto market cap and Bitcoin’s correction to $105,000 in the past 24 hours, overall macro sentiment remains strong.
According to a Polymarket poll (volume: $27.7 million), there is only a 1% chance that the U.S. government shutdown will end today, November 11th.
However, betting platforms are showing a 96% chance that the US government will reopen between November 12th and 15th. The remaining 4% expect reopening to take place after November 16th.
Despite the current selling pressure, the broader macroeconomic outlook looks positive, but buying highly volatile assets such as cryptocurrencies, for example, is still considered a risky bet.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information but should not be taken as financial or investment advice. Market conditions can change rapidly, so we recommend that you verify the information yourself and consult a professional before making any decisions based on this content.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured in major media outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Beyond reporting, Wahid likes to connect the dots between DeFi and macro in his newsletter “Onchain Monk.”
Wahid Pesarrai of X