Morning market report

Morning Market Report. November 10, 2026.

The broader crypto market is drifting quietly lower across the board, with no major panic but clear selling pressure on altcoins and leveraged long positions getting squeezed.

BTC sits at $74,638, down 0.27% over the last 24 hours. Despite the flat price action, 73.6% of tracked traders are positioned for a rise, and the fee that traders betting on growth pay to hold those positions stands at an annualized 11%, which is notably elevated. New leveraged bets on further upside are being added. In the past hour alone, over $2.1 million worth of those long bets were forcibly closed by the market, compared to just $11,000 on the short side. That imbalance is worth noting.

ETH is at $2,117, down 1.08%. The crowd skews even more bullish here, with 79.4% positioned long, yet the price is falling. Over $1.7 million in leveraged long positions were liquidated in the last hour, while short liquidations were virtually zero. That divergence between crowd sentiment and price direction is a tension the market has not resolved yet.

XRP ($1.094, -1.58%) and SOL ($86.01, -1.73%) are both softer. SOL stands out because traders betting on growth are actually paying a small fee to those betting on a decline, meaning short-side pressure is currently getting compensated, an unusual setup. Over $350,000 in SOL long positions were liquidated in the past hour.

On flows and sentiment, the Fear and Greed index reads 32, firmly in Fear territory. Bitcoin ETFs saw a modest $12.2 million inflow yesterday, but the 7-day cumulative figure is a heavy outflow of roughly $1.9 billion, meaning institutional money has been leaving the ETF wrapper consistently through the past week. BTC dominance holds at 59.65%, suggesting capital is not rotating into altcoins in any meaningful way.

The broader picture shows total crypto market cap at $2.51 trillion, up 0.82% on the day, though that headline number is somewhat misleading given most major coins are red. The VIX, a measure of expected volatility in traditional stock markets, sits at 19.92, which is moderate and not signaling any external shock from equities right now. Across all coins in the last 24 hours, $169 million in leveraged long positions were forcibly closed versus $83 million on the short side, confirming that the pain today is concentrated on those betting on higher prices.

What to watch today. The key tension is a large and growing crowd of optimists holding leveraged positions while prices slide, a setup where continued downward pressure can trigger cascading forced closures. We also measure an internal heat score for BTC and ETH (0.39 and 0.41 respectively), but this is a data point we are tracking over time rather than a confirmed indicator, so treat it as background observation only. The 7-day ETF outflow trend is the cleaner signal worth following as the week progresses.