Crypto Market Week Nov 1–7, 2026 — Bitcoin Holds $76K, Monero Outperforms & Smart Swap Opportunities

November 8, 2026  ·  5 min read

After Bitcoin's sharp post-election surge carried it to nearly $81,000last week, the market took a breather in the first week of November. The retracement was orderly — no dramatic crash, just profit-taking and a rotation toward stablecoins as traders waited for clearer signals. By Friday November 7, BTC had settled near $76,200, sitting on a support zone that has held several tests over the past month.

The standout story was not the decline — it was Monero's quiet resilience. While BTC fell 6.2% and ETH lost 7%, XMR dropped only 2.4%. It was the best-performing major asset in the top 20 this week.

Bitcoin: Healthy Pullback or Start of Something Bigger?

The $74,000–$76,000 range is significant for two reasons. First, it represents a Fibonacci retracement of the move from October's low near $62,000 to the $81,000 high. Second, on-chain data from Glassnode shows the short-term holder (STH) cost basis — the average price that recent buyers paid — sitting at approximately $74,500. Historically, Bitcoin tends to find support around the STH cost basis during mid-cycle corrections.

The funding rate on perpetual futures turned slightly negative this week — a sign that leveraged shorts outnumber longs in the short term. That is typically a contrarian indicator: when the crowd is positioned for further decline, the more likely outcome is a squeeze back upward.

Monero: Why XMR Is Outperforming

Monero's relative strength has a structural explanation. As more centralised exchanges delist XMR under regulatory pressure, the coin's supply on exchange order books shrinks. That means less sell pressure during downturns — holders who own XMR are disproportionately long-term holders who are unlikely to panic-sell a 2% weekly move.

XMR also benefits from steady organic demand. Unlike speculative assets that spike on hype and fade, Monero's use case — private, untraceable transactions — drives consistent usage. Users who need XMR specifically are not waiting for a better price; they need it for practical reasons and they seek it out through instant swap services, peer-to-peer markets, and privacy-focused platforms.

Ethereum: Still Lagging Bitcoin

ETH fell to approximately $2,250, and the ETH/BTC ratio hit a three-month low. Ethereum has consistently underperformed Bitcoin throughout Q4 2026 — a pattern that often precedes an altcoin rotation once BTC stabilises. If Bitcoin finds its footing at $76K and consolidates, historically the next move is ETH catching up.

For users sitting on stablecoins, the ETH/BTC ratio is worth watching: accumulating ETH when it is at a cyclical low versus BTC has historically been a profitable strategy heading into a new BTC uptrend.

Stablecoins: Surge in Demand

USDT and USDC trading volumes surged approximately 34% week-over-week, reflecting a broad flight to stability. This is normal behaviour when Bitcoin pulls back after a sharp rally — experienced traders do not exit crypto entirely, they park capital in stablecoins to redeploy when signals clarify.

If you are holding stablecoins from a recent portfolio exit, the question is not whether to get back in but which asset and when. The BTC support range and negative funding rates this week both suggest the near-term risk/reward for BTC is tilted upward.

Market Performance: Week of Nov 1–7, 2026

What to Watch Next Week

Three things to watch heading into the week of November 10:

• BTC $74K support. If Bitcoin closes a daily candle below $74,000, the next meaningful support sits around $70,000. A hold above $76,000 opens a path back toward $80,000.
• ETH/BTC ratio. A bounce in this ratio would signal the beginning of the altcoin rotation that typically follows a BTC consolidation phase.
• Stablecoin redeployment. Watch on-chain data for large USDT → BTC flows, which would indicate institutional buyers re-entering at current levels.