📉 Crypto Market Under Pressure: Bitcoin Slides Towards $98,000
Welcome to the Daily for Thursday, November 13, 2025 ☕️
Hello Cointribe! 🚀
Today is November 13, 2025, and as every day from Tuesday to Saturday, we bring you the top news from the last 24 hours you shouldn’t miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡 Weather:
🌧️ Rainy
24h crypto recap! ⏱
🇹🇼 Taiwan to Establish a National Bitcoin Reserve by End of 2025
The Taiwanese government plans to release an official report on the creation of a Bitcoin reserve sourced from seized assets. The initiative aims to assess the economic and strategic benefits of a sovereign crypto reserve.
👉 Read the full article
🔗 Bitwise’s Chainlink ETF Listed on DTCC — SEC Approval Imminent?
Bitwise’s spot Chainlink ETF has been added to the Depository Trust & Clearing Corporation (DTCC) registry. This listing typically precedes formal SEC approval and has reignited market interest in decentralized oracles.
👉 Read the full article
🏦 DBS and J.P. Morgan Develop a Framework for Tokenized Interbank Deposits
The two banks are collaborating on a shared infrastructure that will enable tokenization and exchange of bank deposits between institutions. The initiative aligns with Singapore’s regional strategy to modernize traditional finance through blockchain technology.
👉 Read the full article
📊 Morgan Stanley: Bitcoin Enters a New Phase of Maturity
The American investment bank believes Bitcoin has reached a structural milestone, driven by institutional demand and spot ETFs. The report also highlights a declining correlation with equity markets — a sign of Bitcoin’s growing independence as an asset.
👉 Read the full article
Crypto of the Day: Render (RENDER)
🧠 Innovation and Added Value
Render Network is a decentralized infrastructure designed to meet the growing demand for GPU power for 3D rendering, virtual reality, and AI workloads.
The project connects content creators (studios, artists, developers) with idle GPU providers, creating a peer-to-peer marketplace where computing resources are optimized and monetized.
Its innovation also lies in its migration to the Solana blockchain (for faster, cheaper transactions) and the adoption of the “Burn-Mint Equilibrium” model, which adjusts token issuance based on real network usage.
This value proposition positions Render as a key Web3 infrastructure player, especially in gaming, media, and AI — sectors where shared GPU demand is booming.
💰 The Token
The RENDER token (formerly RNDR) powers the Render Network economy. It compensates GPU providers for executing high-intensity computing tasks and allows creators to pay for rendering jobs.
It also plays a role in governance: holders can vote on protocol upgrades, reward structures, and strategic directions. In addition, with certain use cases triggering token burns, RENDER could see deflationary pressure as adoption grows.
Thus, RENDER holders are exposed both to network usage and its underlying economic dynamics — making it a token to watch in the DeFi/DePIN infrastructure landscape.
📊 Real-Time Performance
💵 Current Price: 2.20 USD
📉 24h Change: −5.15 %
💰 Market Cap: ≈ 1.14 B USD
🏅 Rank on CoinMarketCap: #63
🪙 Circulating Supply: ≈ 518.58 M RENDER
📊 24h Trading Volume: ≈ 92.28 M USD
New Bitcoin Drop: $1.3 Billion in Liquidations and a Support Under Threat
Once again, Bitcoin is going through a phase of technical and emotional stress. As its price falls below $100,000, investors are witnessing renewed liquidations on derivatives markets. The $98,000 zone has become a focal point — some see it as a rebound opportunity, others as a sign of structural weakness.
Weakened Supports and Accelerating Liquidations
Since May 2025, Bitcoin has repeatedly tested the support zone between $102,000 and $100,000. This repetition naturally weakens the level — the more a support is tested, the less it holds. The recent drop below $100,000 marks the fourth failed rebound attempt.
Leveraged positions tell the story: nearly $1.3 billion in long positions have been liquidated, most around $98,000, according to CoinGlass data. This area now represents a major liquidity cluster attracting market pressure.
Specialized analysts such as Daan and Byzantine General consider this threshold strategic. Daan describes it as a compression point where pending orders accumulate, while Byzantine General mentions the possibility of a “sweep” of the lows — a dip below support before a sharp rebound.
Notably, despite the decline, around 69 % of open positions on Binance remain long, according to Hyblock Capital. This imbalance between trader optimism and market reality could amplify the correction if the $98,000 zone breaks.
The $98,000 Threshold: Panic or Opportunity for Investors?
Markets react not only to price levels but to their collective interpretation. The current slide represents a “failed breakout” — a false bullish signal that traps buyers before a sharper fall.
Another indicator comes from long-term holders: over 815,000 BTC have been sold in 30 days. This suggests either waning confidence from strong hands or a strategic redistribution of assets toward new value zones.
In this context, the $98,000 threshold acts as a pressure line. A rebound from this level could revive market momentum and confirm it as a solid accumulation zone. Conversely, a clean break could push BTC into a new corrective cycle, with no clear support nearby.
