Bitcoin corrects after breaking $110,000, November 3, 2025 Crypto Market Analysis and Investment Strategy

current market overview (as of 11/3/2025 06:00 UTC)

cryptocurrency markets have entered a slight correction phase after Bitcoin's $110,000 milestone. On Ubit, Bitcoin is trading at 164,042,000 won, up 0.03% from the previous day, but is under short-term profit-taking pressure, down 0.32% over 24 hours at $109,968.8 on Binance futures market. the kimchi premium is at 4.16%, indicating that buying sentiment remains robust among local investors.

notably, news of Coinbase's 475% surge in Q3 net profit, along with the confirmation of a Ripple (XRP) spot ETF listing on the New York Stock Exchange, are injecting new life into the market.

major Cryptocurrency Spot Prices (as of Ubit)

ticker Name current Price (KRW) percentage change market capitalization trading Volume (KRW billion) bitcoin (BTC) 164,042,000 +0.03 3,136.953 trillion 459.64 ethereum (ETH) 5,747,000 -0.40 665.467 trillion 12,497.76 ripple (XRP) 3,731 -0.03 214.009 trillion xRP dogecoin (DOGE) dOGE -1.79 39.796 trillion 39.796 trillion ada (ADA) 896 -1.86 30.798 trillion 18,196,372.64

analyzing the Buy Recommendation Score

looking at the change in the Buy Recommendation Score over the last 24 hours reveals rapid volatility in market sentiment.

hour buy Recommendation Score top Reasons nov 3, 05:35 0.06 ripple RLUSD positive, rally stalls despite rate cuts nov 3 04:31 2.03 coinbase net income surges 475%, bolsters buying sentiment nov 3 03:36 0.68 bitcoin correction - ETF net outflows, Ripple ETF expectations mixed nov 3 02:41 0.67 correction pressures coexist with ETF expectations nov 3 01:35 0.67 ETF Net Outflows - Ripple ETF Listing Expected Amid Regulatory Concerns

current buy recommendation score: 0.06 (Neutral)

the recent dip in the Buy Recommendation Score from 2.03 to 0.06 is due to profit-taking pressure following Coinbase's strong earnings. However, we remain neutral due to the presence of medium- to long-term positive factors such as the market capitalization of Ripple's stablecoin, RLUSD, approaching $900 million, and the listing of a Ripple ETF being finalized.

fundamental Analysis

macroeconomic Environment

bitcoin's rally has been lackluster despite continued expectations of a Fed rate cut. wall Street pundit Tom Lee has made a strong prediction that "Bitcoin will go to $3 million in the long term," but some conservatives have suggested that the $250,000 expectation is a trap and that a $140,000 target is more realistic.

key Headwinds

1. coinbase earnings surge: The crypto exchange's profitability improved significantly in the third quarter, with net income soaring 475%, suggesting continued inflows from institutional investors.
2. ripple ETF listing confirmed: a Ripple spot ETF was confirmed for listing on the New York Stock Exchange, marking the third spot ETF launch after Bitcoin and Ethereum, further diversifying the market.
3. ripple RLUSD Growth: Ripple's stablecoin, RLUSD, approaches $900 million in market capitalization, as corporate payments and DeFi adoption spreads.
4. michael Saylor hints at more buying: microStrategy's Michael Saylor hinted at additional Bitcoin purchases, suggesting institutional buying could continue.

key headwinds

1. bitcoin Uptopper Fails: The 'Uptopper' rally failed, breaking a seven-year tradition of October gains.
2. ETF outflows: Net outflows of KRW 40 billion from Bitcoin-Ethereum ETFs weakened short-term investor sentiment.
3. whale selling pressure: Bitcoin's early whales are selling heavily to "manage risk for peace of mind".
4. ubit regulatory risk: The domestic regulatory environment is uncertain, with Ubit blocking coin transfers to Cambodia's Hui Won exchange.

technical Analysis

bitcoin (BTC) Chart Analysis

price Range Analysis

• 24h high: 111,216.0 USDT (Binance Futures)
• 24h low: 109,661.2 USDT
• current price: 109,968.8 USDT
• percentage change: about 1.4

bitcoin is currently in a correction phase with strong resistance around $110,000. after making a high at $111,216, the price has since dropped to $109,661 before bouncing back, suggesting that we can expect a range-bound trade in the $109,500-111,200 range in the near term.

moving Average Analysis As of the upbeat, the price of KRW 164,042,000 is up just 0.03% from the previous day and is trading sideways between the short-term moving average (5-day moving average) and the medium-term moving average (20-day moving average). this indicates an unclear short-term direction.

TheRelative Strength Index (RSI) estimate remains average at $6.24B in the last 24 hours, and the 0.32% declinesuggestsa neutral zone (RSI 4555estimate) rather than an overheating or consolidation zone.itis natural for the RSI to fall during a correction after a sharp rise, and a pullback to the 4045area could be a buying opportunity.

MACD (Moving Average Convergence Divergence ) The MACD is likely to fall below the signal line during a short-term correction, but the long-term uptrend remains intact, suggesting a temporary divergence after the golden cross.

bollinger Bands: The 24 hour moving average is narrow at 1.4%, and the current price is estimated to be near the center line of theBollinger Bands. this is a contraction zone of volatility, suggesting the possibility of a big move in the future.

ethereum (ETH) Chart Analysis

price Trend

• current price: 3,854.72 USDT (Binance Futures)
• 24 hour rate of change: -0.61
• upbit price: 5,747,000 KRW (-0.40%)

ethereum is weaker than Bitcoin, down 0.61%, having failed to break through the $3,900 resistance level and finding support around $3,850, and is expected to trade in a range between $3,800 and $3,950.

volume Analysis With a 24 hour trading volume of $6.25B, ETH is still attracting a lot of attention from the market, similar to Bitcoin. The ETH/BTC ratio is around 0.035, indicating that Ethereum's relative strength is weakening compared to Bitcoin.

altcoin Trends

ripple (XRP)

• upbit price: $3,731 (-0.03%)
• binance price: 2.5006 usdt (-0.16%)

ripple is showing a "buy the news, sell the facts" pattern, falling slightly despite the news of its ETF listing confirmation. However, despite the appearance of a "death cross" versus Bitcoin, the November 13th game-changing event is expected and warrants medium to long-term attention.

bitcoin Cash (BCH)

• 24-hour percentage change: -3.90% (biggest drop)
• current price: 532.00 USDT
• funding rate: -0.0265% (short positions dominate)

bitcoin Cash is weakening, posting the largest percentage drop among the major cryptocurrencies.

on-chain Analysis

tracking the whales

recent on-chain data shows that Bitcoin and Ethereum are being massively withdrawn from exchanges. this suggests that whales are choosing long-term storage over short-term trading, a positive sign that could lead to a reduction in market supply.

while news has emerged that some of the early Bitcoin whales have been selling "for peace of mind", the overall trend is for exchange withdrawals to increase, suggesting that strong hands remain in the market.

increase in realized market capitalization

reports that Bitcoin's realized market capitalization has increased by more than $10 trillion indicate that new money is flowing into the market. realized market cap is calculated as the price at which all bitcoins were last moved, so a rise in this metric indicates an increase in actual invested capital.

exchange deposits trends

while Bitcoin's trading volume on Upbit remains sizable at KRW 459.64 billion, it is noteworthy that Ethereum's trading volume is more than 27 times higher than Bitcoin's at KRW 12,497.76 billion. this shows that domestic investors continue to favor altcoins.

investor sentiment and derivatives analysis

crypto Fear & Greed Index (Crypto Fear & Greed Index)

the recent sharp change in the buy recommendation score (2.03 → 0.06) suggests that market sentiment has quickly shifted from greed to neutral. short-term greed was fueled by strong Coinbase earnings, but quickly cooled following Bitcoin's failure to break $110,000 and news of net outflows from ETFs.

the Fear Greed Index is estimated to have moved out of the "extreme greed (7080)" zone, which is typical when Bitcoin prices are trading sideways near all-time highs, and into the"greed (6070)" or "neutral (50-60)" zone. this can be viewed as a healthy correction as the short-term overheating is being removed.

funding Rate Analysis

binance Futures Funding Rates

asset funding Rate position Propensity BTCUSDT 0.bTCUSDT long dominant (weak level) ETHUSDT 0.0084 long dominant (moderate level) XRPUSDT 0.0009 neutral BCHUSDT -xRPUSDT 0.0265 short dominant (strong level) LTCUSDT 0.bCHUSDT 0.0265 long dominant (moderate level)

analysis:

bitcoin's funding ratio is positive at 0.0048%, but remains low, indicating that longs are dominant but not overheated. Longs are generally considered overheated when the funding ratio is above 0.01%, so we can assume that the market is currently in a healthy uptrend.

ethereum has a higher funding rate than Bitcoin at 0.0084%, so it is relatively long, but its price is actually weaker than Bitcoin's, so there may be liquidation pressure in the future.

of note, Bitcoin Cash's funding rate is strongly negative at -0.0265%, with short positions overwhelmingly dominant, leaving the door open for a short squeeze.

options Open Interest and Leverage Trends

net outflows of KRW 40 billion from Bitcoin-Ethereum ETFs reflect short-term profit-taking by institutional investors. However, this is likely to be a temporary correction, as there is growing interest in resuming ETF buying.

liquidity in the derivatives market remains abundant, with 24-hour trading volumes on Binance futures markets remaining high at $6.24B for Bitcoin and $6.25B for Ethereum. this means that the market has the ability to absorb large price swings.

leveraged positions are on the rise

funding costs remain low and positive across the board, and the lack of extreme long/short skew suggests that the market is moving steadily without excessive leverage. this also means that the risk of a sharp liquidation chain reaction is low.

market outlook and investment strategy

short-term outlook (1 week)

resistance: $111,500 (Binance) / $166,000,000 (Upbit) Support: $108,000 (Binance) / $161,000,000 (Upbit)

in the near term, we expect to see continued rangebound trading between $109,500 and $111,500. Disappointment from net outflows from ETFs and the failure of the Uptover rally will be reflected, but good news such as strong Coinbase earnings and the confirmation of a Ripple ETF listing will support the bottom.

medium-term outlook (1 month)

november is a time of policy uncertainty following the US election, and Q4 is historically a bullish season for crypto markets. between Tom Lee's long term outlook ($3 million) and conservative outlook ($140,000), we expect a test of the $120,000 to $150,000 range by the end of the year.

when the Ripple ETF starts live trading around November 13, it may trigger an altcoin rally centered on XRP. Also, the expansion of the stablecoin market (RLUSD growth) is a positive factor that increases the maturity of the crypto ecosystem.

long-term outlook (6 months to 1 year)

with the continued inflow of institutional investors, the expansion of the ETF market, and the effects of supply reduction after Bitcoin's halving kicking in, new all-time highs are expected in the first half of 2025.

however, as Robert Kiyosaki warns, "fake money collapses," we expect fiat currencies to depreciate and Bitcoin to appreciate simultaneously, which is the basis for the $1 million Bitcoin scenario.

suggested investment strategies

1. accumulationBuying Strategy The market is currently in a neutral zone, neither overheating nor cooling, so accumulation is the safest strategy. increase your longs on dips below $108,000, and consider taking some profit on rallies above $111,500.

2.selective Altcoin Investing Ripple's (XRP) ETF listing is a noteworthy opportunity. however, be wary of a "buy on the news, sell on the facts" pattern, and a strategy of buying in installments before November 13 and taking profits on the day of listing may work.

ethereum has been weakening against Bitcoin, but could rebound given its high trading volume and funding costs. if the $3,800 support level holds, it could be used as a buying opportunity.

3. managing risk

• limit crypto investments to no more than 5-10% of your total portfolio
• avoid leveraged trading (funding fees and liquidation risk)
• utilize exchange-distributed custody and hardware wallets
• monitor regulatory risks on local exchanges such as Upbit

4.stocks towatch Bitcoin Cash (BCH) is showing signs of weakness with a -3.90% drop and -0.0265% funding fee, so short-term investments are advised to be avoided. There is a possibility of a rebound due to excessive short positions, but a wait-and-see approach is appropriate until there are clear signs of a trend reversal.

closing thoughts

as of November 3, 2025, the cryptocurrency market is in a healthy correction following Bitcoin's $110,000 breakout. while there have been some short-term headwinds, such as the failed Uptober rally and net outflows from ETFs, medium- to long-term positives such as Coinbase earnings surge, Ripple ETF listing, and increased long-term holdings by whales have kept the bottom firmly in place.

on the technical front, RSI and MACD are moving out of overheating zones and back to healthy levels, and funding ratios are stable with no extreme skew. the dip in the Fear and Greed Index into the neutral zone could actually be a springboard for the next move higher.

it is important for investors not to be swayed by short-term volatility, but to take a medium- to long-term view that combines fundamental and technical analysis. We believe that this is a good time to consider a split buy, especially given the mid-November launch of Ripple ETF trading and the holiday seasonal effect.

disclaimer: This analysis is for informational purposes only and is not a solicitation of investment. Cryptocurrency investments are subject to high volatility and risk, and investment decisions should be made at your own discretion and risk. please be fully aware of the possibility of losing your investment.