Bitcoin traded around $107,796 with modest intraday gains, while Ether hovered near $3,804 as crypto markets remained range-bound following October’s sharp drawdown. Implied volatility stayed elevated versus monthly averages, with options skew indicating hedging demand at lower strikes. Liquidity on major venues normalized, though funding rates were mixed across perpetual pairs. Stablecoin flows suggested cautious risk re-engagement by market makers. Analysts flagged macro catalysts—US yields, dollar strength, and regulatory headlines—as dominant near-term drivers for directional moves across large-cap tokens.