Bitcoin reclaims $80,000 as Shiba Inu lags, short liquidations trigger rebound
Bitcoin traded above the $80,000 mark on November 5, diverging significantly from Shiba Inu (SHIB), which remained under distinct selling pressure. CoinGecko listed Bitcoin at $80,245 as of 11:13 UTC, recording a 2.16% gain over 24 hours, while U.Today placed SHIB near $0.00000475 in its 09:00 UTC update—well below its September high of around $0.00000620.
Bitcoin surges after short liquidations
According to U.Today, Bitcoin rebounded from a recent low near $75,600 to climb above $80,000, posting more than a 3% advance over a day. This climb coincided with significant activity in the derivatives market, where roughly $378 million in Bitcoin short positions were liquidated within an hour and total market liquidations topped $747 million in that period.
The outlet described the action as indicative of a short squeeze—a situation where a rapid price increase forces traders holding short positions to buy back assets, accelerating the upward move. However, analysts noted that this type of event, driven by short covering, does not necessarily indicate renewed investor demand or a sustainable rally.
Large-scale short liquidations fueled the sharp rebound in Bitcoin prices, yet market analysts remain cautious about interpreting this as confirmation of a broader recovery, citing an absence of clear signs that buyers will sustain the move.
Mini dictionary: Short squeeze, a rapid price rise triggered when traders with short positions are forced to buy back the asset to cover their losses, helping drive prices higher in the process.
ETF flows show mixed picture
Market data cited from Farside indicated inconsistent flows into spot Bitcoin ETFs during the end of October and early November. Over October 30, November 2 and November 3, spot Bitcoin ETFs recorded outflows totaling approximately $1.16 billion. However, on November 4, those products experienced a net inflow of $74.6 million. BlackRock’s iShares Bitcoin Trust (IBIT), one of the largest spot Bitcoin ETFs, saw a $201.2 million outflow that day. The timing differences across these datasets reflect daily volatility.
Shiba Inu underperforms despite crypto market rebound
While Bitcoin and other large cryptocurrencies such as Ethereum (ETH) and Solana (SOL) notched gains of roughly 2%-4% over the same period, Shiba Inu failed to recover. SHIB remained near its recent lows, reinforcing the contrast in its market performance relative to the broader sector.
U.Today noted that Shiba Inu had broken below an ascending support trendline. The coin’s price stayed beneath key moving averages, now acting as resistance, with chart levels placing near-term resistance at $0.00000510 to $0.00000530 and stronger resistance near $0.00000550. The relative strength index (RSI) for SHIB approached oversold territory, yet analysts did not detect substantial accumulation by buyers.
The report highlighted that SHIB’s technical picture remained weak after it slipped below a critical ascending support line, with resistance levels now at $0.00000510 to $0.00000530 and no confirmed signs of investor accumulation.
| Bitcoin (BTC) | $80,245 | +2.16% | 11:13 UTC, CoinGecko |
| Ethereum (ETH) | $2,418.17 | +3.78% | 11:13 UTC, CoinGecko |
| Solana (SOL) | $96.48 | +3.05% | 11:13 UTC, CoinGecko |
| Shiba Inu (SHIB) | About $0.00000475 | Not stated | 09:00 UTC, U.Today |
Outlook and market sentiment
As of November 5, the Crypto Fear & Greed Index—a widely followed market sentiment gauge developed by Alternative.me—stood at 50, indicating a neutral stance among market participants. For Bitcoin, analysts are watching whether price levels above the 200-day moving average, specifically between $76,000 and $77,000, will continue to provide support. The relative strength index for Bitcoin remained close to 51, below levels typically associated with a confirmed bullish trend.
In the case of SHIB, attention remains on whether the token can reclaim broken trendlines and break through resistance around $0.00000510 to $0.00000530. Analysts maintain that, despite approaching oversold technicals, there is currently no clear signal of a reversal or renewed accumulation.
CryptoQuant analyst CryptoZeno referenced a 30-day average cycle extremes index reading of 15.8% for Bitcoin, suggesting the correction may not have fully concluded. Ongoing ETF inflows and outflows, as well as chart signals, will remain central focal points for traders in the coming days.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
U.S. non-farm payrolls surge by 165,000 in October, far exceeding expectations! Unemployment rate unexpectedly drops to 4.1%, December rate hike expectations intensify
In October, US non-farm payrolls increased by 165,000, which is 2.5 times the Wall Street median forecast of 65,000 and represents an exceptionally strong deviation of about 5 standard deviations, exceeding the upper limit of all institutional forecast ranges. The unemployment rate unexpectedly fell from 4.2% to 4.1%, while the market had expected it to remain unchanged; average hourly wages also accelerated year-on-year growth to 3.1%. Meanwhile, the previous two months' non-farm payrolls were revised upwards by a total of 84,000. Following the release of the data, the yield on 2-year US Treasury bonds rose by 7 basis points, and the pricing of the probability of a Fed rate hike in December climbed to 70%.
AI Sell-off Hits Anthropic IPO, Potential Valuation Expected to Drop to $1.2–1.3 Trillion
The valuation range discussed by potential investors has been lowered from the previous high of $2 trillion to between $1.2 trillion and $1.3 trillion, and some strategists have even suggested going below $1 trillion to ensure safety. In the face of significant market volatility and financial concerns such as quarterly losses, Anthropic is facing tough decisions, including a discounted valuation, reducing the size of the offering, or postponing the listing.
Moderna Q3 revenue up 29% year-on-year, far exceeding expectations, raises full-year revenue growth guidance to 15%-25% | Earnings Report Insight
Moderna's Q3 revenue increased by 29% year-on-year to $1.31 billion, with profits significantly exceeding expectations. The company raised its 2026 revenue growth guidance to 15%-25%. The ramp-up of next-generation COVID-19 and flu vaccines, along with international market expansion, has driven performance improvement. Phase III data for the personalized cancer vaccine has also shown positive progress. The company is simultaneously advancing cost reduction and pipeline R&D, with year-end cash expectations significantly raised.
Crypto prices
More
