Bitcoin trades near $78K as perpetual selling pressures leverage

Bitcoin traded near $78,000 on Monday after a weekly decline of about 2%, according to Glassnode’s BTC Market Pulse: Week 45 published Nov. 2, 2026. The report said a Thursday slide pushed the market clearly below $80,000, with perpetual sellers driving the move while spot buyers held up better. Glassnode said perpetual takers drove the sell-off and pushed perpetual CVD just below its low band. Futures open interest remained in the upper part of its range at $37.4 billion, down 0.5% from $37.6 billion seven days earlier, while long-side funding payment increased 40.5% to $3.1 million and stayed well above its high band. The report said that leverage had not cleared despite the pullback. Options positioning also shifted toward defense.

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