The cryptocurrency market cap has fallen to $3.18 trillion, while selling pressure is high among short-term holders.
Crypto markets are mostly in the red today as Bitcoin continues to trade just above $90,000, holding near last week’s lows, while Ethereum and other major altcoins post losses of 2-4%.
After bouncing off support near $90,000, Bitcoin (BTC) briefly returned to $92,000 over the past 24 hours, before settling just above $90,000 at press time.
Ethereum (ETH) is down 3.3% and slipped just below $3,000 for the second time in the last 24 hours. Among the top 10 by market cap, XRP fell the most today, losing 4.8% to trade at $2.10.
The Crypto Fear and Greed Index remains at extreme fear levels for the fourth day in a row.
Bear Market Threshold
Glassnode analysts highlighted in an article today that BTC has fallen below the cost base quantile of 0.75, which is historically a bear market threshold. Over the cycles, regaining this level “has been essential to restoring the bullish structure,” the analysts wrote.
They added in another article on
Major movers and liquidations
Among the top 100 assets, Starknet (STRK) is the best performer, up 33% on the day, continuing its recent rally. It is followed by WhiteBIT Coin (WBT), up 16%, and Zcash (ZEC), up 7.7%.
In contrast, Hyperliquid (HYPE) and Kinetiq Staked HYPE (KHYPE) are down the most, by around 7%, with Monero (XMR) down 4.8%.
Coinglass data shows $276 million in liquidations over 24 hours, with long positions accounting for $150 million and short positions accounting for $126 million. BTC leads with $86.6 million liquidated, followed by ETH with $79.6 million and altcoins with $21.5 million.
ETF and macro conditions
On Tuesday, November 18, Ethereum spot ETFs continued their outflow stream with $74.2 million in net outflows, while Bitcoin spot ETFs also reported $372.8 million in net outflows. The total net assets of spot BTC ETFs are $122.3 billion, while that of spot ETH ETFs is $19.6 billion, according to SoSoValue data.
On the macro side, QCP Capital analysts wrote in a market preview today that several U.S. data releases scheduled for later this week – including the Conference Board’s next LEI update due Friday and a series of labor market indicators expected to arrive before the weekend – will guide market expectations regarding the Fed’s policy trajectory through 2026.
While the U.S. economy exhibits K-shaped dynamics, resilient spending by high earners in the face of stress among lower-income households, conditions “appear more like an end-of-cycle than a recession,” analysts noted.
