Key points

  • Bitcoin traded between $75,692.6 and $76,008.5 on Kraken from midnight to 04:43 UTC on Saturday, a band of about $316. It was near $75,787 on Kraken and $75,780 on Coinbase at that stamp.
  • Since Monday’s daily open of $78,239.2, bitcoin is down about 3.1%. The week’s range runs from $81,179.6 on Wednesday to Friday’s $74,790 low.
  • Derivatives cooled overnight: Deribit perpetual open interest slipped to about $685 million and DVOL eased to about 39.3. Friday’s ETF table is incomplete, with IBIT still blank.

A loud week. A silent Saturday.

Friday’s First Print had bitcoin hanging on near $75,600 after a $75,100 low. Friday then printed a lower low and did nothing with it.

A lower low without follow-through

Friday’s Kraken candle ran from $74,790 to $76,300.7 and closed at $75,741.6, almost exactly where it opened. The low came in the US afternoon after the hot October payrolls, as covered in Friday’s Market Read on the hot jobs print.

Overnight, the tape went flat. Hourly closes from 21:00 UTC Friday to 03:00 UTC Saturday stayed between about $75,742 and $75,943.

Ether was near $2,240 and Solana near $89.86 on Kraken at 04:43 UTC. XRP was the soft spot, near $1.151 and about 2.3% below its midnight open.

Leverage is leaving, not arriving

Funding barely registered: about 0.0019% per eight hours on Deribit, 0.003% on Binance and 0.0021% for OKX’s current period.

Deribit’s perpetual open interest was about $685 million at 04:45 UTC, down from roughly $703 million on Friday morning. DVOL, Deribit’s 30-day implied-volatility index for bitcoin, slipped to about 39.3 from about 40.7.

Put simply, traders are paying a little less for protection and carrying a little less leverage after a week that broke the election-night floor. That is a market resting, not a market repaired.

The ETF side is half-written. Farside’s 6 Nov row shows US spot bitcoin funds at −$8.9 million excluding IBIT, with Fidelity’s FBTC taking in $42.8 million against outflows from BITB, ARKB and GBTC. BlackRock’s IBIT cell was still blank.

Monday to Thursday, the funds lost a combined $869.8 million; see Thursday’s ETF Desk. Ether funds were −$3.6 million on Friday before ETHA and ETHB report.

$84,250, the line this desk uses for the Brief mood, is more than $8,000 above the price. Nothing in the overnight tape tested it.

Keep position sizes honest over thin weekend books.

Chart to watch

Bitcoin daily candles on Kraken, 2 to 7 Nov.

  • Wednesday’s $81,179.6 high is the week’s ceiling; Friday’s $74,790 is the floor.
  • A daily close back above $76,300, Friday’s high, would be the first sign of repair. A sustained break below $74,790 would put a fresh weekly low on the board.

On the calendar (UTC/CET)

  • Farside IBIT print for 6 Nov — expected later today; our ETF Desk follows once the row is complete.
  • Federal Register, 9 Nov — FinCEN and the Fed’s withdrawal of the 2020 $250 cross-border recordkeeping and Travel Rule proposal is scheduled for publication.
  • Deribit weekly bitcoin options expiry (13NOV26) — Fri 13 Nov, 08:00 UTC / 09:00 CET. About 33,300 BTC of open interest (roughly $2.5 billion at the index) sat on the book at our read, with a put/call ratio of about 0.68.

As of ~04:45 UTC, 7 Nov 2026: Kraken BTC $75,786.6 · Coinbase $75,780.07 · Deribit perp OI ~$685M · DVOL ~39.3 · 13NOV26 options OI ~33.3k BTC.

Related: ETF Desk: $411.9 million left US spot bitcoin ETFs on 6 Nov, led by IBIT

This article is for information only and is not investment advice.