Total market capitalization also dipped, slipping 0.7%, while altcoins saw even steeper declines. From Ethereum to Dogecoin, every asset in the top ten traded lower, adding to the overall weakness across the sector.
Market sentiment remains strained. The Crypto Fear & Greed Index is sitting at just fourteen points, reflecting a state of “extreme fear” among participants. More than $510 million in positions were liquidated over the last 24 hours alone, bringing total weekly liquidations to around $1.1 billion.
Several key events are expected to shape market movement in the days ahead. On 19 November, the Federal Reserve will release the FOMC meeting minutes. The same day will bring fresh inflation figures from the European Union as well as Nvidia’s quarterly earnings report.
Broader token unlocks worth roughly $476 million, the launch of Franklin Templeton’s XRP ETF on 18 November, and upcoming labor-market data and PMI readings are also likely to influence volatility.
Traditional markets are reacting cautiously as well. Nasdaq futures are down 2.95% on the day, following the Fed’s 25-basis-point rate cut in October. Analysts note that the probability of additional easing in December has slipped recently, adding another layer of uncertainty to the outlook.