Bear Market Fears Begin to Rise for BTC, ETH

Group 1: Bitcoin Market Overview - Bitcoin is down over 3% at the start of November, with long-term holders selling over 400,000 bitcoin in October, representing about 2% of circulating supply [1] - The market structure for bitcoin is more mature compared to previous cycles, with demand from DATs and ETFs absorbing available supply [1] - Despite the resilience shown by bitcoin, the market remains fragile, with potential for further downside without positive macro catalysts [1] Group 2: Ethereum Market Dynamics - Ethereum has experienced a more significant decline, trading down nearly 8% on the day, attributed to thin liquidity and fewer buyers [2] - Perpetual futures funding rates for Ethereum have been near flat or negative since October 10th, indicating a bearish market sentiment [2] - Significant open interest in puts below $3,700 on Deribit suggests traders are preparing for further market drawdown, with increasing positions below the $3,000 level for November 28th expiries [2]