Bitcoin is trading just under $95,000 after dipping to $93,000 over the weekend, as the total crypto market value slid below $3.3 trillion, a level last seen in June. Sentiment has swung to extreme fear, and investors are bracing for more volatility this week.
Sentiment flips to fear
A popular gauge of market mood, the Crypto Fear & Greed Index, fell into the "extreme fear" zone over the weekend after a brief recovery last week. That shift reflects anxiety about further price drops and tighter financial conditions.
Extreme fear can sometimes act like a rubber band pulled too far — it can snap back fast. But it can also signal that sellers still have control in the short term.
Flows and macro pressure
Money has been leaving crypto investment funds. Spot Ethereum exchange-traded funds (ETFs) saw more than $728 million in outflows last week, the third-largest weekly outflow on record. Spot Bitcoin ETFs posted over $1 billion in net outflows for a second straight week, with combined net assets now around $125.3 billion, per SoSoValue. ETFs are stock market funds that hold crypto; heavy outflows can weigh on prices.
Macro conditions aren't helping. U.S. Treasury yields ticked down Monday but remain elevated, with the 10-year near 4.13%, the 2-year around 3.60%, and the 30-year close to 4.72%, per CNBC. With the U.S. government reopened, traders are focusing on delayed economic releases. The Bureau of Labor Statistics plans to publish September nonfarm payrolls on Thursday, Nov. 20, followed by a real earnings update on Friday, according to the BLS schedule.
Market maker Keyrock said the market is stuck between a lack of fresh data and a Federal Reserve that still sounds hawkish, creating wider possible outcomes than today's prices imply. Read their note.
Key price lines for Bitcoin
Trading firm QCP Capital highlights $92,000 as a key support — a floor that held in late last year and early this year. They add that slipping below the 50-week moving average (a long-term trend line) argues for caution in the medium term. A deeper trend break would be confirmed only if $88,000 and then $74,500 fail, according to QCPs latest update.
In short: $92K is the first level to watch; below that, the path likely gets rougher.
Altcoins show deep pain
Analysts at glassnode say altcoin profits are sitting in "deep capitulation" territory, with only about 5% of supply in profit, while Bitcoin's profits are only now falling sharply — a split they call unusual compared to past cycles. See their post on X.
That gap matters. If Bitcoin stabilizes first, altcoins might lag before catching up. If Bitcoin breaks lower, altcoins — already weak — can fall faster.
Winners, losers, and forced selling
Liquidations surged as prices fell. About $765 million in leveraged bets were wiped out in the past day, with $423 million in longs and nearly $341 million in shorts, per Coinglass. Bitcoin led with $337 million forced closed, followed by Ethereum at $175 million and Zcash at $45 million. Liquidations happen when exchanges automatically close risky positions, often speeding up sharp moves.
Among the top-100 tokens today, Uniswap (UNI) and Ethena (ENA) are up about 6% and 3.6%. On the downside, pumpfun (PUMP) and Internet Computer (ICP) slipped roughly 9% and 7%.
Where majors stand
Ethereum is flat on the day near $3,180 after a weekend dip to $3,000. Over the last week, both BTC and ETH are down about 10%–11%. Most of the top-20 coins are little changed today but show weekly losses of 3% to 17%. One exception: XRP is up about 2% in the past 24 hours.
What to watch next
- Price levels: $92K first, then $88K and $74.5K if selling deepens.
- ETF flows: Continued outflows from spot Bitcoin and Ether ETFs could pressure prices; a turn to inflows would be a strong signal.
- Macro calendar: Thursdays U.S. payrolls and Fridays earnings reports may sway risk appetite.
- Market stress: High liquidation totals and funding rate swings can hint at near-term volatility.
Why this matters
When fear peaks, markets can either break down or bounce hard. With ETFs still seeing money leave and key U.S. data ahead, crypto is at a decision point. Long-term investors often view extreme fear as a chance to plan entries, while traders focus on support lines and liquidity.
This article is for information only and is not financial advice.