Cryptocurrency markets continued to slide on Friday, Nov. 14, as investors faced macro uncertainty and heavy liquidations following a volatile few weeks.
Bitcoin (BTC) fell 4.3% to $94,200 over the past 24 hours – its lowest price point since around April. Meanwhile, Ethereum (ETH) slipped 2% to $3,164, bringing its weekly losses to 9%.
BTC Market Cap ChartAmong Top 10 altcoins, XRP dropped 1.2% to $2.27, and Solana (SOL) was mostly flat at $141. BNB bucked the trend, rising 1% to $922 on news that BlackRock’s BUIDL Fund would be expanding to BNB Chain.
The total crypto market cap stands at $3.33 trillion, down 2.2% in the past 24 hours, with trading volume at $270.7 billion. Bitcoin dominance remains at 57.7%, while Ethereum accounts for 11.4% of the market.
Biggest Losers and Winners
The top gainers over the past 24 hours included Zcash (ZEC), which rose 12.7% to $580; Canton (CC), up 10% to $0.12; and Monero (XMR), which climbed 4.8% to $395.
The top losers on the day are Aave (AAVE), down 7.4% to $177.53, Sky (SKY), down 5.8% to $0.051, and Uniswap (UNI), down 5.7% to $7.09.
This week’s crypto market activity suggests that investors are paring risk after a volatile month, with trading and sentiment shifting toward sectors like privacy.
Record Outflows
More than $1 billion in crypto positions were liquidated over the past 24 hours, according to data from Coinglass. Long positions made up most of the liquidations at $819 million, while shorts accounted for $188 million.
Bitcoin led the liquidations with $539 million, followed by Ethereum with nearly $211 million, and SOL with over $53 million.
Spot Bitcoin ETFs recorded nearly $870 million in outflows on Thursday, marking their second-largest single-day withdrawal since launching in 2024. The biggest outflow to date was on Feb. 25, when investors pulled $1.14 billion in a single day, according to SoSoValue.
Ethereum ETFs experienced over $259 million in outflows. SOL ETFs, on the other hand, attracted around $1.5 million in inflows.
Macro Uncertainty
Because the government shutdown delayed the release of economic reports for weeks, investors don’t know what the new data will show about the health of the U.S. economy.
For now, estimates from the Cleveland Fed suggest overall prices rose 2.96% over the past year, with core inflation (which excludes food and energy) up 2.99%.
Even so, the lack of clear data is raising doubts about whether the Federal Reserve will still cut interest rates in December, adding to market tension, experts say.
The government reopened earlier this week after a record 43-day shutdown – but that hasn’t eased investor concerns. The shutdown disrupted private-sector activity, reportedly cost about 60,000 jobs, and caused delays in air travel and SNAP benefits.
The new Justice Department probe is adding to the nervous mood. The Epstein investigation, launched at President Donald Trump’s request, is heightening political tension, which in turn is making investors more cautious in the short term.
Source: https://thedefiant.io/news/markets/bitcoin-drops-to-usd94-000-following-second-largest-daily-etf-outflows
