Insights › Market Pulse › Weekly › 31 Oct - 6 Nov 2026
9 Nov 2026 (Weekly - Sat 12 pm UTC)BMM Market Pulse · Weekly
Bitcoin round-trips $81,180 to $74,790: Less blocks, more fees and positive news on Friday 13th
Market Pulse Weekly: 31 Oct - 6 Nov 2026
- No difficulty retarget in the week: the last change was +5.54% on 29 Oct at block 973,728; the next is estimated at −6.26% around 13 Nov.
- Hashrate (7-day, BMM node) peaked at 1,068.6 EH/s on 31 Oct and ended the week at 1,031.4 EH/s; the highest in BMM's three-year series is 1,150.9 EH/s (18 Oct 2025).
- Fees averaged 0.63% of the block subsidy (0.54% the week before); the highest day was 5 Nov at 0.97%, the highest of the last 30 days.
- BTC/USD −1.89% on the week; $537M of BTC futures were liquidated, 59% of them longs.
- Pool concentration: BMMAA -0.21 (Neutral) from +0.17 (Neutral) a week earlier; the top five found 76.8% of the blocks in the week, against 78.7% the week before.
Key figures: this week against the previous week
| 31 Oct - 6 Nov | 24 Oct - 30 Oct | Change | |
|---|---|---|---|
| Blocks found | 973 | 1,047 | −74 |
| Average block time | 10:22 min | 9:38 min | |
| Network hashrate, 7-day estimate at week end | 1,031.4 EH/s | 1,055.4 EH/s | −2.3% |
| FPPS per PH/s per day, average** | 42,643 sats | 44,556 sats | −4.3% |
| FPPS per PH/s per day, USD | $33.01 | $35.52 | −7.1% |
| Fees, % of the block subsidy | 0.63% | 0.54% | |
| BTC/USD weekly close | $75,742 | $77,204 | −1.89% on the week |
| BTC/USD weekly range | $74,790 - $81,180 | $76,156 - $81,882 | |
| Liquidations: longs / shorts | $319M / $218M | $510M / $138M | |
| Perpetuals volume / open interest at week end | $183.4B / $20.3B | $187.6B / $20.2B | |
| Deribit DVOL (expected daily move), week-end close | 39.43 (2.06%) | 40.59 (2.12%) | |
| Top 5 pools, share of blocks | 76.8% | 78.7% | −2.5% |
| BMMAA Pool Concentration Risk, week end* | -0.21 · Neutral | +0.17 · Neutral |
** The week's average holds the new difficulty only from 29 Oct (19:14 UTC). At the new difficulty and this week's fee level, FPPS is about 42,640 sats per PH/s per day, −5.25% against the level before the reset. * BMMAA zones and method: btcmining.markets/insights/bmmaa/
1 · Network: hashrate and difficulty
973 blocks in the week (139.0 a day, one every 10:22 min). Hashrate (7-day estimate, BMM node) ranged 1,020.1–1,068.6 EH/s and closed at 1,031.4 EH/s, −2.3% on the week. Next retarget at block 975,744: BMM estimate −6.26% around 13 Nov, PPS per PH/s +6.68% to 45,201 sats (FPPS about 45,487 sats at this week's fees).
The last five difficulty epochs
| Blocks | Dates | Days | Difficulty | Retarget at close | PPS after, sats | Fees, % of subsidy |
|---|---|---|---|---|---|---|
| 971,712–973,727 | 16 Oct - 29 Oct | 13.27 | 140.58 T | +5.54% | 42,371 | 0.50% |
| 969,696–971,711 | 3 Oct - 16 Oct | 13.22 | 132.72 T | +5.92% | 44,719 | 0.57% |
| 967,680–969,695 | 19 Sep - 3 Oct | 14.00 | 132.76 T | −0.03% | 47,368 | 0.71% |
| 965,664–967,679 | 5 Sep - 19 Sep | 13.44 | 127.45 T | +4.16% | 47,353 | 0.58% |
| 963,648–965,663 | 23 Aug - 5 Sep | 13.82 | 125.81 T | +1.31% | 49,324 | 0.64% |
Source: BMM node, every block. Full history and the current epoch: btcmining.markets/dashboard/difficulty-epoch/ · each epoch reviewed in BMM's Epoch Review (btcmining.markets/insights/network/epoch-review/).
2 · Transaction fees
Fees were 0.63% of the block subsidy over the week (0.54% the week before). The highest day was 5 Nov at 0.97%, the highest of the last 30 days; the average fee per transaction that day was 1,039 sats, on 383,986 transactions. For a miner paid by FPPS this adds directly to the day's revenue.
Source: BMM node, fees and transactions of every block. Daily FPPS above PPS: btcmining.markets/dashboard/miner-economics/
3 · BTC market
BTC/USD opened the week at $77,204 and closed at $75,742 (−1.89%), between $74,790 (low, 6 Nov) and $81,180 (high, 4 Nov). The widest days were 4 Nov (range 7.2%, close +4.02%) and 5 Nov (7.1%, −5.55%). Liquidations followed the direction of the move: on the 3 down days longs were 85% of liquidations, on the 4 up days 31%. Over the last 30 days the long share of a day's liquidations and the day's price change have a correlation of −0.69 (the bigger the fall, the more longs are liquidated).
| UTC day | Open | High | Low | Close | Change | Range | Liq. longs | Liq. shorts |
|---|---|---|---|---|---|---|---|---|
| 6 Nov | $75,980 | $76,301 | $74,790 | $75,742 | −0.31% | 2.0% | $27M | $12M |
| 5 Nov | $80,441 | $80,828 | $75,100 | $75,980 | −5.55% | 7.1% | $171M | $18M |
| 4 Nov | $77,332 | $81,180 | $75,625 | $80,441 | +4.02% | 7.2% | $54M | $153M |
| 3 Nov | $76,677 | $77,970 | $76,254 | $77,332 | +0.85% | 2.2% | $21M | $12M |
| 2 Nov | $78,239 | $78,740 | $76,565 | $76,676 | −2.00% | 2.8% | $40M | $11M |
| 1 Nov | $77,437 | $78,416 | $77,386 | $78,239 | +1.04% | 1.3% | $4M | $8M |
| 31 Oct | $77,204 | $77,636 | $77,000 | $77,437 | +0.30% | 0.8% | $2M | $3M |
Coming week: 13 Nov 2026 is the largest BTC options expiry of the next 7 days, 44,795 BTC of open interest on Deribit, Binance, Bybit and OKX; days around large expiries can bring sharper moves and more liquidations.
Sources: Kraken daily OHLC (UTC); liquidations of BTC perpetual futures on Binance, Bybit and OKX: Coinalyze; options: exchange public APIs. Live: btcmining.markets/dashboard/btc-market/
4 · Mining pools
The top 5 pools found 76.8% of the week's blocks (78.7% the week before). Estimated from shares of blocks, the top 5 added −42.8 EH/s on the week and all other pools +14.0 EH/s; the biggest gain was ViaBTC (+9.1 EH/s), the biggest loss Foundry USA (−45.2 EH/s). Over 30 days, BMMAA Pool Concentration Risk reads -0.21 (Neutral: within the range block luck alone produces; no clear shift between large and small pools), down from +0.17 a week earlier.
| EH/s, week | Foundry USA | AntPool | F2Pool | ViaBTC | SpiderPool | Top 5 | All other pools |
|---|---|---|---|---|---|---|---|
| Average | 245.4 | 200.4 | 184.3 | 111.4 | 58.9 | 800.4 | 242.2 |
| Change on the week | −45.2 | −19.6 | +4.2 | +9.1 | +8.8 | −42.8 | +14.0 |
Source: coinbase tags on BMM's node; EH/s = share of blocks × the week's average network estimate, so subject to block luck. Pool-by-pool analysis: BMM Mining Pools Review (btcmining.markets/insights/mining-pools/pool-review/); concentration score: btcmining.markets/insights/bmmaa/
Bitcoin round-tripped the week. BTC/USD opened at $77,204 on 31 Oct, reached $81,180 on 4 Nov and fell to $74,790 on 6 Nov, closing at $75,742, -1.9% on the week. The close sat near the open; the path did not. The $6,390 range, $537M of futures liquidations (59% longs, 4 Nov the heaviest day at $207M) and Deribit DVOL at 39.4 are the week's story. Miners: fewer blocks, more fees. The network found 973 blocks, 139 a day against the 144 target (one every 10:22 min), so revenue per unit of hashrate fell: FPPS averaged 42,643 sats ($33.01) per PH/s per day, -4.3% on the previous week. Fees rose to 0.63% of the block subsidy from 0.54%. Relief is set for 13 Nov. An estimated -6.26% retarget would raise PPS per PH/s by about 6.7% in BTC at constant price and fees. Pools. Foundry USA found 23.5% of the week's blocks (27.1% the week before) and the top five 76.8% (78.7%); ViaBTC added 9.1 EH/s and Foundry lost 45.2 EH/s. BMMAA -0.21, neutral. Watch the 13 Nov options expiry: 44,795 BTC of open interest across four venues.
Next week to watch
- Difficulty retarget at block 975,744: BMM estimate −6.26% around 13 Nov 2026 (estimate of 2026-11-13 17:42 UTC; it moves with the block pace), which would raise bitcoin mining revenue by about 6.7% in BTC.
- Big day for BTC options: expiry 13 Nov 2026, 44,795 BTC of open interest on Deribit, Binance, Bybit and OKX (25,210 BTC calls, 19,584 BTC puts; snapshot 2026-11-09). Expect higher BTC spot price volatility around that date: important for those converting BTC to USD then.
- BMM Mining Pools Review: next issue due 15 Nov (15th and 30th of each month).
- BMM Epoch Review of blocks 973,728–975,743, after the retarget on 13 Nov.
- Next Market Pulse · Weekly: Saturday 14 Nov 2026, 12:00 UTC, covering Saturday 7 Nov - Friday 13 Nov 2026.