# Three Lines Drawn in One Weekend as Bitcoin Holds Its Line > This weekend drew three lines across crypto at once. Bitcoin held the 75,000 dollar line while money kept leaving the ETFs. Washington drew an enforcement line around one of the largest offshore exchanges. And Vitalik Buterin drew a fresh line around what gives ether its worth. Each line points the same way, toward a market maturing in public, with its rules, its plumbing, and its value story getting written down where everyone can read them. Published: 2026-11-08 · Source: Crypt0's News · Canonical: https://crypt0snews.com/news/2026-11-08-three-lines-drawn-in-one-weekend-as-bitcoin-holds-its-line.html This weekend drew three lines across crypto at once. Bitcoin held the 75,000 dollar line while money kept leaving the ETFs. Washington drew an enforcement line around one of the largest offshore exchanges. And Vitalik Buterin drew a fresh line around what gives ether its worth. Each line points the same way, toward a market maturing in public, with its rules, its plumbing, and its value story getting written down where everyone can read them. Bitcoin traded near 75,800 dollars through the weekend, down about 2.7 percent on the week and holding above the 75,000 dollar area traders watched all week. The price sat between its 50 day average near 81,800 dollars and its 200 day average near 73,200 dollars, a market in transition, with the sentiment gauge deep in its fear zone. The mood gauge stayed cautious while the price stayed put. United States spot Bitcoin ETFs saw about 1.28 billion dollars in net outflows in the November 2 to 6 trading week, with 411.9 million dollars leaving on Friday alone. BlackRock's IBIT accounted for 403 million dollars of the Friday redemptions, while Fidelity's FBTC drew 42.8 million dollars in fresh money, a split that shows buyers and sellers reading the same week in different ways. The jobs report gave the market plenty to read. Employers added 165,000 jobs in October, far above the roughly 65,000 economists expected, and the unemployment rate eased to 4.1 percent. Strong hiring pushed market implied odds of a December Federal Reserve rate hike toward 80 percent, and Tuesday brings the October consumer price report. Washington made its own move on Friday. The Treasury Department's Financial Crimes Enforcement Network issued an order cutting MEXC Global off from the United States financial system, citing at least 16 billion dollars in illicit transactions tied to sanctions evasion, cybercrime, and other illegal activity between May 2021 and May 2026. The order takes effect 30 days after publication in the Federal Register, and it bars covered United States financial institutions from processing transfers to or from the exchange. The same day, the Treasury sanctioned eight Canadian money services businesses tied to Iranian financial networks, part of a campaign called Operation Economic Outcast. MEXC said it is reviewing the order with its legal teams and that operations continue with user assets secure. The exchange processed more than 1 billion dollars a day as of September, with about 5 billion dollars in reserves, so the order lands on a venue with real scale, and the 30 day window gives the industry time to reroute cleanly. Sunday brought the week's most interesting argument, from Vitalik Buterin himself. In a post on X, the Ethereum cofounder argued that ether's long term worth rests on its role as a store of value, an asset people hold to preserve wealth, rather than on its identity as a token whose supply shrinks when fees burn. He kept his support for EIP 1559, the 2021 change that destroys part of every transaction fee, and he added that holders should stay calm even if fee burns stay below 10 percent of the break even level. Fee burns covered only about 2.07 percent of fresh ether issuance, so total supply has grown on balance. Buterin put a number on the alternative. Funding the protocol through fee capture at a scale that supports ether's roughly 270 billion dollar market value would take around 700,000 ether a year, and chasing that scale would push Ethereum toward centralization. What people value most about Ethereum, he wrote, is decentralization itself, plus censorship resistance, capture resistance, open source, privacy, and security, the qualities the Ethereum Foundation calls CROPS. Ethereum's builders spent the same week proving the point in a different way, by choosing care over speed. Core developers paused the Hoodi testnet fork for the Glamsterdam upgrade after security firm ChainSecurity flagged gas questions in an October 13 review. A November 6 update from Ethereum Foundation developer Marius van der Wijden said the fork stays paused until the findings are resolved, and the Foundation published eight gas assumptions the upgrade changes for contract teams to check. Delegating from an empty account jumps to 235,606 gas from 25,000 under the fresh pricing, and a transaction budgeted at the old figure can run short on gas while applying the authorization, land on chain with the delegation rolled back, and leave a signed authorization public and still valid for reuse. EIP 8037 and EIP 8038 drive the pricing changes, raising the price of creating and reading state, work the Foundation calls a prerequisite for raising the gas limit further and roughly tripling base throughput. Work on Hegota, the upgrade planned after Glamsterdam, continues in parallel, and ether held near 2,237 dollars while United States spot ether ETFs saw a sixth straight week of outflows, about 365 million dollars. For readers, the weekend shows a market growing up in real time. The price held its line while the ETFs cooled, Washington wrote its enforcement line in plain language with a 30 day clock, and Ethereum's most prominent voice reframed its value around decentralization instead of a burn chart. Watch Tuesday's inflation report for the next price cue, the Federal Register for the MEXC clock to start, and the next core developer call for a Hoodi fork date. The lines are drawn, and the builders on each side of them know exactly where they stand. ## Sources - [KuCoin](https://www.kucoin.com/news/flash/bitcoin-struggles-near-76k-amid-fed-rate-hike-fears-and-etf-outflows) - [Crypto News](https://crypto.news/mexc-fincen-16-billion-iran-sanctions-canadian-firms/) - [Crypto Briefing](https://cryptobriefing.com/vitalik-buterin-eth-store-of-value/) - [Coindoo](https://coindoo.com/ethereums-next-upgrade-could-change-how-old-contracts-run/) --- Paid agent calls for this story: brief $0.02, search index $0.05, archive $0.10 (USDC on Base, x402). 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