Crypto Markets Bounce on Government Shutdown Progress
Denis Omelchenko & yyc trader
November 10, 2025
gm, Defiers
Today’s big story:
- Crypto markets seek a reset after ETFs dump $1.7 billion in the third-largest weekly outflows of the year.
In other news:
- Bitcoin bounces to $105K as Trump promises $2000 ‘tariff dividends’
- Ethena’s Season 4 rewards finally go live
- ZRO surges after LayerZero Labs’ $10 million buyback
- What does it take to truly bridge Bitcoin and DeFi? [SPONSORED]
Read more below! But first, please give our sponsors some love; they make this newsletter possible.
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We’re back! Here’s what you need to know in web3 today
📈 Markets in the Past 24 Hours
| TICKER | VALUE | 24H | |
|---|---|---|---|
 | Bitcoin | $105,862 | 1.99 % |
 | Ethereum | $3,549.53 | 0.75 % |
 | XRP | $2.55 | 9.97 % |
 | BNB | $985.58 | -1.00 % |
 | Solana | $166.9 | 2.80 % |
Today’s Big Story
ETFs Dump $1.7B in Third-Biggest Weekly Outflow of 2025
Last week, the market faced sharp losses as leveraged positions got trimmed and Bitcoin and Ethereum exchange-traded funds (ETFs) faced some of the biggest outflows of the year.
Data from SoSoValue shows spot Ethereum ETFs dumped over $500 million last week, marking the third-largest weekly outflow this year, while spot Bitcoin ETFs also saw huge outflows, with $1.2 billion leaving, making it the third-worst week for BTC ETFs.
Although it wasn’t a full-blown panic, traders still ended the week tense, and sentiment dived to “extreme fear,” according to the Fear & Greed Index.
Over the past week, Bitcoin slipped about 1% and Ethereum fell 2.8%, data from CoinGecko shows. Altcoins took a harder hit with SOL losing the most in the top 10 by market cap, down 3.7% on the week.
Not all tokens fell, however, as some narratives persisted. Privacy tokens rose over 30%, with Zcash overtaking Monero in market cap, and although ZEC faced a short 30% correction, dropping from $723 to $504 on Saturday, it quickly recovered to $637.
Macro factors also played a role, as hope that the U.S. government shutdown would end lifted risk appetite, helping Bitcoin bounce back to $106,000.
On Sunday night, the Senate passed a 60‑to‑40 vote, clearing a path for a spending deal after eight Democrats broke ranks to side with Republicans, setting up a full journey through Congress, and finally to President Trump’s desk before the shutdown can actually end.
As leverage got flushed and ETFs racked up outflows, money started moving toward stronger stories like AI infrastructure and privacy, and Q4 looks set to be calmer than October’s chaos, though smooth sailing appears far from assured.
Denis, staff reporter at The Defiant
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🎬WATCH
The Next $100B DeFi Market: Real DNS Domains
Domains are one of the largest untapped asset classes on the internet — 360M+ names, most of them not even hosting a site. They’re traded like real estate, through slow, trust-based, broker-intermediated systems with fees as high as 30%.
D3 wants to bring this market on-chain. Unlike competitors, they're going for real DNS domains (.com, .ai, .xyz), not synthetic names. They're building as an Ethereum L2, and fully ICANN + DNS compliant, which means their domains have true rights ownership, leasing, fractionalization, collateralization, and even revenue shares.
Top News in the Past 24 Hours
Top News in the Past 24 Hours
- Bitcoin Hovers Around $105,000 as Government Shutdown Progress Lifts Markets
The cryptocurrency market edged up slightly on Monday following President Donald Trump’s $2,000 payout proposal and signs of progress toward ending the U.S. government shutdown, which is now the longest in history. Why it matters: Experts see the payouts as a boost for spending power, similar to the stimulus checks during the pandemic, which helped to lift investor confidence. - Ethena Season 4 Rewards Go Live
Synthetic dollar protocol Ethena released its Season 4 rewards, with ENA tokens claimable by participants who have been waiting since September for their earnings. Why it matters: The rewards drop distributes 3.5% of the total ENA supply, with 1.5% instantly claimable. - LayerZero Token Surges After $10 Million Buyback
LayerZero Labs, the team behind the omnichain interoperability protocol, disclosed on Thursday that it had purchased $10 million of its native ZRO token from the open market. Why it matters: The purchase fits into a wider trend of crypto projects returning revenue to tokenholders through buybacks.
Trending on The Defiant
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- Privacy Coins Extend Rally as Zcash Soars Above $700
- Bitcoin Hovers Around $101,000 as Stocks Selloff Deepens
- Google Finance to Add Support for Prediction Markets Polymarket, Kalshi
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