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Apparent Bitcoin demand decreased by 284,000 BTC over the past 30 days, registering its largest contraction since March 2025. Tether's (USDT) market capitalization dropped by $6.6 billion over a 60-day span. The Coinbase Premium Index completed 30 consecutive days in negative territory as of November 10, 2026.

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Bitcoin held the largest open-interest balance at $7.33 billion. Ether, XRP and Dogecoin open interest fell over 24 hours, while long accounts outnumbered short accounts across all five markets.

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The index classified the reading as “Fear” at 7 p.m. ET, and measures Bitcoin sentiment specifically.

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Circle issues USDC as a stablecoin designed to maintain a value pegged to the U.S. dollar.