Vitalik ‘pivots’ ETH to store of value, crypto suffers following US midterms: Hodler’s Digest
Ethereum creator Vitalik Buterin states the network should promote ETH as a store of value, not as an asset that derives value from burning fees. As the number of daily transactions rose by more than half, From January to October this year median transaction fees…
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On the Bitcoin price front, Ethereum creator Vitalik Buterin states the network should promote ETH as a store of value, not as an asset that derives value from burning fees, according to Cointelegraph. As the number of daily transactions rose by more than half, From January to October this year median transaction fees slipped from 35 cents to 3.5 cents.
Key points
- The TRUMP memecoin lost a third of its value this week, and was the steepest loser in the top 100 cryptocurrencies.
- The election result saw AI related equities crash and Bitcoin declined below $76,000 where it stays.
- Yet because of design choices, fees have held declining along with revenue.
Inside the Bitcoin price story
Yet because of design choices, fees have held declining along with revenue, making that narrative unsustainable. The TRUMP memecoin lost a third of its value this week, and was the steepest loser in the top 100 cryptocurrencies. The election result saw AI related equities crash and Bitcoin declined below $76,000 where it stays.
Why Bitcoin price matters for traders
Crypto markets trade around the clock and react quickly to regulation, ETF flows, liquidity conditions and broader risk sentiment. Moves in Bitcoin often set the tone for the rest of the digital-asset market.
Changes in interest-rate expectations and institutional flows have become major drivers of crypto prices, linking them more closely to traditional markets.
Market reaction and data
Crypto prices at the time of writing, from Binance spot data (2026-11-08 23:08 UTC):
| Asset | Last price (USDT) | 24h change | 24h high | 24h low |
|---|---|---|---|---|
| Bitcoin (BTC) | 74,827.13 | -1.23% | 76,200.00 | 73,510.00 |
| Ethereum (ETH) | 2,145.08 | -3.98% | 2,246.00 | 2,060.00 |
| Solana (SOL) | 87.08 | -2.60% | 90.01 | 85.02 |
What to watch next for Bitcoin price
Watch for ETF flow data, regulatory news, large on-chain movements and shifts in overall risk appetite in stock markets.
Follow every update in our Top 10 Crypto News Today or see all of today's top market news.
FAQ
What is the latest Bitcoin price news?
Ethereum creator Vitalik Buterin states the network should promote ETH as a store of value, not as an asset that derives value from burning fees.
What moves the price of Bitcoin?
Bitcoin reacts to institutional and ETF demand, regulation, liquidity and interest-rate expectations, as well as general risk sentiment in financial markets.
Where does this information come from?
This report is based on coverage from Cointelegraph, checked against market data where available. It is a summary for information only and not investment advice.
Risk warning: This article is for information only and is not investment advice. Trading forex, CFDs, stocks and crypto carries a high risk of losing money. Prices move fast – check live quotes before you trade.
