Bitcoin price crumbles to $62K support, but derivatives metrics show bullish signs

XRP's price action shows strong institutional interest, with significant volume increases and new wallet creations.

[Kyo Finance completes $5 million Series A funding, valuation reaches $100 million] On November 8, Kyo Finance announced the completion of a $5 million Series A funding round, with a valuation reaching $100 million. This round of funding was led by Castrum Istanbul, TBV, and BZB Capital. Kyo Finance's core goal is to establish a single liquidity layer to eliminate the boundaries and complexities within decentralized finance (DeFi).

[JPMorgan Holds Bitmine Shares Valued at $102 Million] JPMorgan's 13F-HR filing submitted to the U.S. Securities and Exchange Commission on November 7 shows that as of September 30, the bank held 1,974,144 shares of Bitmine Immersion Technologies, the world's largest Ethereum reserve company, with a market value of $102 million. Bitmine was originally a Bitcoin mining company but transitioned into an Ethereum reserve company in 2025. It currently holds over 3.24 million Ethereum, making it the largest reserve globally.

[A newly created address shorts BTC with 20x leverage, entry price $101,653] On November 8, a newly created wallet address 0x7b7 opened a 20x BTC short position on the Hyperliquid platform, with an entry price of approximately $101,653. Currently, the unrealized loss for this address is around $1.8 million, and the liquidation price is approximately $104,230.

[UK Listed Company Falconedge Completes First Bitcoin Purchase] Hedge fund advisory company Falconedge, listed on the London Stock Exchange, announced that it has completed its first Bitcoin transaction, purchasing a total of 15.16258228 BTC at an average price of $103,553.97, with a total expenditure of approximately $1.57 million.