Briefs · Morning brief
Morning brief: Bank of England decides; Base network plans faster blocks
The Bank of England publishes its November rate decision at 7:00 a.m. ET, and Base's docs still list today for its Denim upgrade, which moves the network to 200-millisecond blocks. Bitcoin traded at $80,283 at 6:22 a.m. ET, up 2.22% over 24 hours.
Morning brief: Bank of England decides; Base network plans faster blocks
What matters today
- Bank of England decides. The Bank publishes its November Monetary Policy Summary, minutes and Monetary Policy Report at 12:00 p.m. London time (7:00 a.m. ET). [1][2]
- BLS productivity at 8:30 a.m. ET. The Bureau of Labor Statistics releases Productivity and Costs for the third quarter. [3]
- Base Denim still "Planning." Base's docs list the Denim mainnet upgrade for Nov. 5 with status "Planning," moving to 200-millisecond native blocks. [4]
- Midterm results await certification. The Associated Press has projected Democratic control of both chambers; results become official only when state authorities certify them. [5][6]
- Majors rose overnight. Bitcoin was up 2.22% over 24 hours to $80,283 at 6:22 a.m. ET. [11]
Overnight crypto
| Asset | Now (6:22 a.m. ET) | 24h change |
|---|---|---|
| Bitcoin (BTC) | $80,283 | +2.22% |
| Ether (ETH) | $2,419.47 | +3.79% |
| Solana (SOL) | $96.63 | +3.14% |
| BNB | $716.53 | +2.24% |
| XRP | $1.32 | +2.18% |
All five majors rose over the 24 hours to about 6:22 a.m. ET, according to CoinGecko. [11]
Bitcoin's share of total crypto market value stood at 60.12% as of 5:19 a.m. ET, and CoinMarketCap's Fear and Greed Index read 43 (Neutral) at 5:08 a.m. ET, its highest since Oct. 28. Data: CoinMarketCap. [12]
Figure 1. Movers, top 50 by market cap, excluding stablecoins, wrapped and staked tokens, tokenized gold, cash-like funds and meme coins, 24 hours to about 6:22 a.m. ET:
| Gainers | 24h change | Decliners | 24h change |
|---|---|---|---|
| Bitcoin Cash (BCH) | +4.16% | Hyperliquid (HYPE) | −5.38% |
| Chainlink (LINK) | +3.28% | Rain (RAIN) | −3.37% |
| Cardano (ADA) | +3.13% | Gram (GRAM) | −2.76% |
No catalyst is sourced for these moves. [11]
Liquidations
Crypto short liquidations totaled $391.6 million and long liquidations $141.0 million over the 24 hours to 6:22 a.m. ET. Non-crypto perpetual futures on stocks, ETFs, indexes and energy added at least $32.7 million in shorts and $101.8 million in longs; that figure is a floor, from CoinMarketCap's top-250 list only. Data: CoinMarketCap. [13]
Figure 2. Largest crypto liquidations, 24 hours to 6:22 a.m. ET (24h price change in parentheses):
| Coin | Shorts | Longs |
|---|---|---|
| Bitcoin (+2.1%) | $229.8M | $16.7M |
| Ether (+3.8%) | $104.5M | $81.8M |
| Solana (+3.2%) | $13.0M | $5.5M |
| Zcash (+0.8%) | $6.9M | $3.0M |
| Hyperliquid (−5.4%) | $2.0M | $5.4M |
Data: CoinMarketCap. Price changes are CoinMarketCap quotes and differ slightly from the CoinGecko figures above.
What printed
01 · Bank of England decision is due this morning. The upcoming-dates page lists Nov. 5 for the November MPC Summary, minutes and Monetary Policy Report; the summary page says they are "to be published at 12pm" London time (7:00 a.m. ET). As of about 6:26 a.m. ET they had not printed. [1][2]
02 · Base's Denim upgrade remains "Planning." Base's docs still show Denim mainnet status "Planning" for Nov. 5, with 200-millisecond native blocks replacing Flashblocks; Sepolia is Live as of Oct. 21. [4]
03 · Block accrued $764 million for a proposed Justice Department deal. Block's 10-Q says it reached an agreement in principle in October on a deferred prosecution agreement; the net payment is about $764 million and remains subject to a final agreement and court approval. [7]
04 · AP projects Democrats won both chambers; crypto bills remain pending. AP's projection is not a certification. The Clarity Act (H.R.3633) passed the House July 17, 2025; Senate cloture on the motion to proceed failed 49–50 on Sept. 15, 2026. [5][8]
05 · France adopted a large-wallet declaration rule on first reading. Amendment I-2701 passed Nov. 3, 150–44 with 8 abstentions, for self-custody wallets of €100,000 or more. Not law. Senate reading opens Nov. 20. [9][10]
On the calendar
| Time (ET) | Event |
|---|---|
| 7:00 a.m. | Bank of England November MPC decision and Monetary Policy Report (12:00 p.m. London) |
| 8:30 a.m. | BLS Productivity and Costs, third quarter 2026 |
| Time not stated | Treasury announces 6-, 13- and 26-week bills (auctions Mon. Nov. 9) |
| Today | Base Denim mainnet upgrade listed for Nov. 5 (status "Planning") |
| Through Fri | Devcon (Ethereum), Mumbai |
| Fri 8:00 a.m. | TeraWulf (WULF) third-quarter call |
| Fri 8:30 a.m. | BLS Employment Situation |
| Fri 12:15 p.m. | Fed Vice Chair for Supervision Michelle W. Bowman |
| Mon 5:00 p.m. | MARA Holdings third-quarter call |
| Tue 8:30 a.m. | BLS Consumer Price Index |
| Wed Nov. 11 | Veterans Day (federal holiday) |
| Date unconfirmed | Zcash NU7 activation height not yet set |
The tell (Le Coin's view)
In Le Coin's view, both of the morning's dated items are still promises on a web page: the Bank of England had not published its decision, and Base still labels Denim "Planning," not live. The overnight rally did its damage to bears: bitcoin shorts accounted for $229.8 million of liquidations against $16.7 million in longs.
Sources (16)
- Bank of England, MPC upcoming dates, https://www.bankofengland.co.uk/monetary-policy/upcoming-mpc-dates , accessed Nov. 5, 2026, 6:23–6:24 a.m. ET.
- Bank of England, November 2026 MPC Summary page ("to be published at 12pm"), https://www.bankofengland.co.uk/monetary-policy-summary-and-minutes/2026/november-2026 , accessed Nov. 5, 2026, about 6:26 a.m. ET.
- U.S. Bureau of Labor Statistics, https://www.bls.gov/schedule/news_release/bls.ics and https://www.bls.gov/schedule/2026/11_sched.htm , accessed Nov. 5, 2026, about 6:28 a.m. ET.
- Base, Denim overview, https://docs.base.org/upgrades/denim/overview , accessed Nov. 5, 2026, 6:23–6:24 a.m. ET.
- Associated Press midterms article, https://apnews.com/article/midterm-election-house-senate-democrats-republicans-trump-f126e12e05b579a327b98481c0ae2226 , accessed Nov. 5, 2026, about 6:35 a.m. ET (direct fetch 403/Cloudflare; claim confirmed via AP search-index / public headline: Democrats won House and Senate).
- USA.gov election results, https://www.usa.gov/election-results , accessed Nov. 5, 2026, about 6:35 a.m. ET.
- Block, Inc., Form 10-Q, https://www.sec.gov/Archives/edgar/data/1512673/000162828026069524/xyz-20260930.htm , accessed Nov. 4, 2026, 11:28 a.m. ET.
- Congress.gov, H.R.3633, https://www.congress.gov/bill/119th-congress/house-bill/3633 , accessed Nov. 4, 2026, about 10:44 a.m. ET.
- Assemblée nationale, amendment I-2701 / scrutin n° 9636, https://www.assemblee-nationale.fr/dyn/17/amendements/3210A/AN/2701 and https://www.assemblee-nationale.fr/dyn/17/scrutins/9636 , accessed Nov. 4, 2026, 10:25 a.m. ET.
- Sénat, Calendrier budgétaire 2027, https://www.senat.fr/ordre-du-jour/files/Calendrier_budgetaire_2027.pdf , accessed Nov. 4, 2026, 10:25 a.m. ET.
- Prices: Powered by CoinGecko API (https://www.coingecko.com/en/api). Endpoints /simple/price (last updated 6:22:21–6:22:42 a.m. ET), /coins/markets and /global (updated 6:17:08 a.m. ET), accessed Nov. 5, 2026, 6:22:48 a.m. ET.
- Prices and market data: CoinMarketCap, https://coinmarketcap.com , accessed Nov. 5, 2026, 5:21 a.m. ET. Bitcoin dominance 5:19 a.m. ET and Fear and Greed Index 5:08 a.m. ET.
- CoinMarketCap liquidations, 24 hours to 6:22 a.m. ET Nov. 5, 2026, https://coinmarketcap.com , accessed Nov. 5, 2026, 6:22:49 a.m. ET.
- U.S. Treasury tentative auction schedule, https://home.treasury.gov/system/files/221/Tentative-Auction-Schedule.pdf ; Federal Reserve calendar, https://www.federalreserve.gov/json/calendar.json ; ECB weekly schedule, https://www.ecb.europa.eu/press/calendars/weekly/html/index.en.html ; accessed Nov. 5, 2026, 6:23–6:24 a.m. ET.
- TeraWulf call notice, https://investors.terawulf.com/news-events/press-releases/detail/147/terawulf-schedules-conference-call-for-third-quarter-2026-financial-results ; MARA call notice, https://ir.mara.com/news-events/press-releases/detail/1428/mara-schedules-third-quarter-2026-earnings-release-and-conference-call ; accessed Nov. 5, 2026, 6:23–6:24 a.m. ET.
- Devcon, https://devcon.org/en/ ; Zcash NU7, https://z.cash/upgrade/nu7/ ; accessed Nov. 5, 2026, 6:23 a.m. ET.
Holding the Corner.
Not financial advice.
