In the first half of November 2025, the crypto world shed over $1 trillion in market cap, with Bitcoin stumbling below $95 000 and Ethereum tumbling toward $3 200 — a dramatic reminder that even in bull-cycles, the ground can give way in a heartbeat.
1. Top Market Movers
Bitcoin & Ethereum
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Bitcoin: Fell ~5–9% just this week, trading in the $94K-$100K zone after breaking major support. (Cryptonews)
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Key technical support around $96K–$93K flagged as the next downside target. (TradingView)
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A clear breakdown: BTC was rejected from the resistance zone (~$100K-$107K) and then failed to reclaim the 300-day moving average — “first clear breakdown of this trend since the cycle bottom”. (TradingView)
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Ethereum: Also steep drop (~9% in one day) to around $3,200. (Cryptonews)
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Support zone flagged: $2,800-$3,000. If that breaks, larger correction is possible. (TradingView)
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Notable Altcoins
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XRP: Dropped ~8.7%. (barrons.com)
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Binance Coin (BNB): Also negative (~4.7% drop). (Binance)
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A few bright spots: e.g., Zcash (ZEC) surged ~26% in 24h in a brief bounce. (Binance)
Breakouts / Breakdowns
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The breakdown is more prominent than any breakout: BTC’s failure to hold the ~$96K-$100K support signals risk of deeper correction.
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Altcoins broadly followed suit; few meaningful new breakouts to report.
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For SOL/XRP: resistance zones (~SOL $160-170, XRP ~$2.40-2.70) remain untested; support zones weakening.
2. Biggest News Events
Institutional Moves & ETF Flows
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Spot bitcoin ETFs in the U.S. saw $867 million of outflows in a single day — the worst since early 2025. (wsj.com)
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According to some reports: $2.6 billion of outflows over the past five weeks. (marketwatch.com)
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Institutional demand appears to be pulling back as markets shift. (Business Insider)
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Quote from Michael Saylor (CEO of Strategy Inc.): reaffirmed strong conviction in Bitcoin, denied selling, said “we’ve been buying quite a lot”. (Investopedia)
Regulatory & Macro Headlines
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A hawkish pivot from the Federal Reserve dampened hopes for a December rate cut, undermining risk-on assets (crypto included). (investors.com)
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The U.S. government shutdown ended but key economic data remains delayed — heightening uncertainty for asset allocators. (TradingView)
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In a broader note, global liquidity concerns and USD strength are headwinds for crypto. (Cryptonews)
Hacks / Rug-Pulls & DeFi/NFT
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While no major headline mega-hack was cited in this period, large liquidation events occurred: more than $960 million in leveraged long positions wiped out in one day. (TradingView)
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DeFi/NFT: The market update flagged low volumes, continued risk-off rotation and warnings that bottom signals are strengthening (though cautiously). (Binance)
3. On-Chain Trends
Whale Wallet Movements
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Data show “whales” (holders of >1,000 BTC) were selling as Bitcoin dipped below $100K — described as profit-taking rather than panicked dumping. (marketwatch.com)
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Meanwhile, a big Ethereum whale (@66kETHBorrow) bought another ~19,508 ETH (~$61 million) despite the drawdown, pushing total accumulation since Nov 4 to ~422k ETH (~$1.34 billion). (TradingView)
Exchange Inflows/Outflows
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Significant outflows from U.S. spot ETF vehicles. (wsj.com)
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Crypto exchange data: BTC trading range widened (~$95,934 to $103,484 in past 24 h) and global market cap down ~6.14% in 24 h per official Binance update. (Binance)
NFT Market & Stablecoins
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NFT market volumes remain subdued; some project-specific spikes (e.g., ZEC surge) but no major market-wide breakout. (Binance)
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Stablecoins: Modest increases in USDC circulation noted over seven-day period. (Binance)
4. Narrative Insights
What story did this week tell?
“Smart money is putting the spanner in the crypto rally.” The narrative is shifting: after a strong 2025 rally, there’s a clear pause. BTC’s breakdown below key structural levels + ETF outflows + macro headwinds = rotation risk. Meanwhile, Ethereum whales accumulating quietly hint at long-term conviction even as near-term sentiment sours.
Early signs of macro or sentiment shift?
Yes — three interlinked themes:
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Risk-on assets (tech, crypto) are under pressure as interest-rate expectations swing.
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Capital is rotating away from broad speculative assets towards bonds/safe yields.
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Liquidity depth in BTC is declining; market vulnerability is rising. (Business Insider)
Influencer Quote
“Bitcoin appears to be fighting one battle after another … dragged down by US dollar strength and higher Treasury yields, long-term holders selling, and macro uncertainty.” — Nic Puckrin (Co-founder, The Coin Bureau) (Cryptonews)
5. Technical Analysis (Side-bar)
BTC (Bitcoin)
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Resistance zone: ~$100K-$107K — rejection here. (TradingView)
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Support zone: ~$93K-$96K. Breakdown here opens $91K next. (TradingView)
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Bearish pattern: Below 300-day MA, momentum fanning downward. (TradingView)
ETH (Ethereum)
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Support: ~$2,800-$3,000 — critical. (TradingView)
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Resistance: ~$4,955 then ~$5,766 (from ETH/BTC ratio analysis) (TradingView)
SOL (Solana)
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Price around ~$140; resistance ~$160-170. Breakdown risk remains.
📈 (Charts would ideally show price action, MA’s, RSI oversold, but not included here)
6. What to Watch This Week
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Fed commentary & U.S. economic data: Inflation, jobs, rate-cut hopes will move crypto.
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Spot ETF flows: More outflows would reinforce bearish tone; inflows might hint at capitulation bottom.
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BTC holding structure: If whales turn from selling to accumulation, that could signal shift.
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ETH whale accumulation: Track large wallets and on-chain stacking.
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Support zones holding? If BTC drops below ~$93K, next stop ~$90K-$88K. Conversely reclaim of ~$100K would be bullish.
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NFT & Layer-2 narratives: Quiet now, but a surprise project or major integration could spark rotation.
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Stablecoin & DeFi data: Surge in supply or ecosystem outflows may presage risk-off behaviour.
Internal link: For past context, see our previous weekly crypto recap covering October’s surge.
Glossary links: If you’re new to “spot ETFs”, “whale wallets” or “liquidations”, check our crypto glossary page.
Thanks for reading this mid-November market pulse.
Buckle up — we might be heading into an interesting phase.
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