Bitcoin News Today: Crypto Stocks Rally Amid Volatility as Market Struggles to Gain Traction

US stock crypto-related stocks surged in pre-market trading on November 17, driven by a rebound in Bitcoin and Ethereum prices according to LookOnChain. Companies such as Hut 8 Mining (HUT), which rose 2.5%, and Coinbase (COIN.O), up 1%, led the gains, reflecting renewed investor optimism despite broader market volatility. The PROSHARES Bitcoin Strategy ETF climbed 1.6%, while the iShares Bitcoin Trust gained 1.5%, signaling growing institutional confidence in digital assets according to LookOnChain.

The rally, however, unfolded against a backdrop of persistent challenges in the crypto market. Bitcoin (BTC) traded near $97,000, but institutional and retail demand remained subdued, with US-listed Bitcoin ETFs experiencing $870 million in outflows on November 14-the highest since October 7 according to FXStreet. Grayscale's GBTC led the exodus, shedding $318 million, while BlackRock's IBIT and Fidelity's FBTC lost $257 million and $200 million, respectively according to FXStreet. Ethereum ETFs also faced outflows of nearly $260 million, underscoring a broader retreat in speculative activity according to FXStreet.

Market sentiment worsened as $1.1 billion in crypto liquidations occurred over 24 hours, with long positions accounting for 87% of the losses according to BeInCrypto. The selloff triggered comparisons to the 2022 FTX collapse, with Bitcoin's Relative Strength Index (RSI) hitting oversold levels not seen since that crisis according to BeInCrypto. Analysts noted that Bitcoin's 50-day EMA crossing below its 100-day EMA-a "Death Cross"-reinforced bearish momentum according to FXStreet.

Amid the turbulence, platforms like RockToken positioned themselves as alternatives for investors seeking structured crypto exposure according to GlobalNewswire. The New Zealand-based firm offers infrastructure-backed contracts yielding Bitcoin, Ethereum, and USDC, targeting retirees and passive-income seekers. CEO Nicholas Aitken emphasized transparency and yield distribution as key differentiators in a market plagued by volatility according to GlobalNewswire.

Meanwhile, nearly $5 billion in Bitcoin and Ethereum options expired on November 14, heightening short-term uncertainty according to Yahoo Finance. Bitcoin's maximum pain level-where traders face the most losses-was set at $105,000, while Ethereum's stood at $3,500. The options market showed a bullish skew, with the put-to-call ratio at 0.63 for Bitcoin and 0.64 for Ethereum according to Yahoo Finance.

Hut 8 Mining's stock performance highlighted the sector's mixed signals. Despite a double-top technical pattern, the company's Q3 earnings beat expectations, with revenue rising 91% year-over-year to $83.5 million according to Yahoo Finance. Analysts at B. Riley and Rosenblatt reiterated buy ratings, citing improved profitability and strategic shifts toward AI infrastructure according to MarketBeat.

The crypto market's challenges, however, persist. XRP's futures open interest dipped to $3.78 billion, far below November 1 levels, while Ethereum's RSI neared oversold territory according to FXStreet. With the Federal Reserve's December rate decision looming and macroeconomic uncertainty unresolved, traders remain cautious. As one analyst noted, "The path of least resistance remains downward for many assets, but structured products and ETFs may offer a lifeline for long-term investors according to GlobalNewswire."