THE BLOCK · 2026-11-12 05:29 UTC

Bitcoin traders raise odds of sub-$70,000 Christmas, Bitmine reports $6.3 billion annual net loss, and more

Bitcoin is around $74,500, but options traders on Derive now put a 31% chance on it finishing Christmas below $70,000, up from 15% last week, while the odds of finishing above $80,000 fell from 53% to 26%. Bitmine reported a net loss of more than $6.3 billion for the fiscal year ended Aug. 31, mostly from unrealized declines in its digital asset holdings, as ether fell about 44% over the year. Major stablecoin supply fell $14.2 billion over 30 days, the largest drop since the 2022 bear market, leaving total supply just below $280 billion according to Glassnode.

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