On November 6th, both Bitcoin and Ethereum spot ETFs experienced net outflows.

Maxine Waters, the ranking Democrat on the House Financial Services Committee, announced her candidacy for the committee's chair and stated that she would push for legislation to stop President Trump's crypto corruption, establish rules for crypto companies, and regulate platforms such as prediction markets. Maxine Waters, who has served as the committee's ranking Democrat since 2013, faces a challenge from Representative Sean Casten in this election, while Representative Bill Foster is also considering running. (Source: POLITICO)

[Bitcoin briefly dips below $75,000, hitting a low of $74,700] On November 6th, according to Coinbase trading data, Bitcoin briefly dipped below $75,000. Coinbase's BTC-USD spot trading pair one-minute price chart shows a low of $74,722 at 23:05.

The Algorand Foundation has indefinitely suspended the Project King Safety roadmap and is no longer considering measures such as removing the ALGO supply cap, enabling and capturing MEVs, and increasing minimum transaction fees. However, staking rewards will be extended to January 2028. New usage-based fees, such as those for Quantum Account Sign-in Transactions after Falcon-1024, may still be introduced or adjusted. The Algorand Foundation has indefinitely suspended its xGov funding program starting December 6, closed the Algorand Forum on November 6, ended the operation of its Ecosystem Advisory Committee (EAC), and terminated its sponsorship of the Algorand Technical Committee (ATC). The new management will focus on building sustainable, revenue-generating network models, with a strong emphasis on promoting post-quantum security capabilities.

A preliminary survey by the University of Michigan shows that the U.S. consumer confidence index has risen slightly by about 6%. Expectations for personal finances and the business environment have improved, but confidence among high-wealth consumers holding large amounts of stock has declined by 5%. About 57% of respondents believe that high prices are eroding their standard of living, the highest percentage since May of this year. The survey was conducted between October 20 and November 2. Inflation expectations for the next year fell to 4.3% from 4.7% last month, while long-term inflation expectations fell to 3.4% from 3.5%.

Binance - BTC/USDT is currently trading at $74994.02, down 0.67% in the last 5 minutes. Please be aware of market volatility.