Cryptocurrency market today, November 7: A securities company suddenly shelved its plan to set up an exchange.

(NLDO)- Analysts say that if Bitcoin price can stay at the $100,000 range, this currency can gradually recover.

On the evening of November 7, the cryptocurrency market plummeted. Data from the OKX exchange showed that in the past 24 hours, the price of Bitcoin fell more than 2%, to $100,180.

Other coins also fell sharply, such as Ethereum (ETH) lost nearly 5%, to 3,230 USD; XRP decreased more than 5%, to 2.1 USD; BNB decreased more than 1%, to 934 USD; Solana (SOL) lost more than 5%, to 151 USD...

Bitcoin Price Is Slowly Recovering?

According to Cointelegraph , after 6 consecutive days of capital withdrawal, Bitcoin ETFs in the US recorded a return of cash flow with a total value of 240 million USD on November 6. This move helps investors expect the market to recover soon if Bitcoin maintains an important price zone.

Previously, the withdrawal streak lasted from October 29 to November 5, coinciding with the time when Bitcoin price plummeted to $98,900 - the lowest level since June. After that, the price of this digital currency rebounded by about 3%.

Bitcoin is trading in the $100,180 region Source: OKX

Analysts say $100,000 is an important psychological threshold. If it holds, Bitcoin prices could gradually recover, but if it closes the week below this level, selling pressure could increase.

Some experts believe that the $98,000 level could be a short-term bottom, as selling pressure has weakened and new money flows have begun to return to the market.

Shelve the floor plan

At the extraordinary shareholders' meeting on the afternoon of November 7, Mr. To Hai, General Director of Vietcap Securities Joint Stock Company, said that as soon as the proposal to test a digital asset trading floor was announced earlier this year, the company set up a research team and closely monitored the developments.

Vietcap also received many cooperation offers from the world's largest cryptocurrency exchanges. "However, in August, the company decided to withdraw from the project due to the large charter capital requirement, up to 10,000 billion VND. We cannot invest too much money in a new field" - Mr. Hai said.

Vietcap extraordinary shareholders' meeting on the afternoon of November 7

Currently, Vietcap has a charter capital of 7,226 billion VND and is expected to increase to 8,500 billion VND after a private offering at the end of this year or early next year. According to regulations, one of the conditions for establishing a digital asset exchange is that the enterprise must have a minimum charter capital of 10,000 billion VND.

It is noted that after Resolution 05/2025 of the Government on piloting the crypto asset market in Vietnam was issued, many domestic enterprises quickly joined the game.

For example, Loc Phat Vietnam Crypto Asset Exchange Joint Stock Company (LPEX) was established on September 30 with an initial charter capital of VND6.8 billion. HD Securities Joint Stock Company also plans to mobilize more than VND7,300 billion, of which nearly VND1,500 billion will be contributed to HD Crypto Asset Exchange Joint Stock Company.

Many other enterprises such as Techcom Securities Joint Stock Company, SSI Securities Joint Stock Company, VPBANK Securities Joint Stock Company ... also established legal entities and contributed capital to organizations operating domestic digital asset trading floors.

Notably, previously, in June 2025, Vimexchange Cryptocurrency and Crypto Asset Trading Joint Stock Company was also established, with a charter capital of 10,000 billion VND. This is the first crypto asset company in Vietnam to reach this charter capital level.

Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-7-11-mot-cong-ty-chung-khoan-bat-ngo-gac-ke-hoach-lap-san-196251107213228156.htm