Crypto market capitalization is down to $3.18 trillion, while selling pressure is elevated 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 2%-4% losses.
After bouncing off support near $90,000, Bitcoin (BTC) briefly jumped back to $92,000 in the past 24 hours, before settling just above $90,000 at press time.
BTC 24-hour price chart. Source: CoinGeckoEthereum (ETH) is down 3.3%, and has slipped just below $3,000 for the second time over the past 24 hours. Among the top-10 by market capitalization, XRP is down 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.
Crypto Fear & Greed Index. Source: AlternativemeBear Market Threshold
Glassnode analysts pointed out in an X post today that BTC has broken below the 0.75 cost-basis quantile, which is historically a bear-market threshold. Across cycles, reclaiming this level “has been key to restoring bullish structure,” the analysts wrote.
BTC cost basis analysis. Source: glassnodeThey added in another post on X that realized losses for short-term crypto holders have surged, with the 7-day Exponential Moving Average reaching $427 million per day, the highest since November 2022. Panic selling continues to increase, and now exceeds the loss levels “seen at the last two major lows of this cycle,” the analysts noted.
Big Movers and Liquidations
Among the top-100 assets, Starknet (STRK) is the best performer, up 33% on the day, continuing its recent rally. It’s followed by WhiteBIT Coin (WBT), which is up 16%, and Zcash (ZEC), up 7.7%.
On the downside, Hyperliquid (HYPE) and Kinetiq Staked HYPE (KHYPE) are down the most, around 7%, with Monero (XMR) down 4.8%.
Data from Coinglass shows $276 million in 24-hour liquidations, with longs accounting for $150 million and shorts $126 million. BTC led with $86.6 million liquidated, followed by ETH at $79.6 million and altcoins with $21.5 million.
ETFs and Macro Conditions
On Tuesday, Nov. 18, spot Ethereum ETFs continued their outflow stream with $74.2 million in net outflows, while spot Bitcoin ETFs also reported $372.8 million in net outflows. Total net assets for spot BTC ETFs stand at $122.3 billion, while for spot ETH ETFs at $19.6 billion, per data from SoSoValue.
On the macro side, QCP Capital analysts wrote in a market overview today that several U.S. data releases scheduled for later this week — including the next Conference Board LEI update due on Friday and a round of labor-market indicators set to arrive before the weekend — will guide market expectations for the Fed’s policy path into 2026.
While the U.S. economy shows a K-shaped dynamic, resilient high-income spending versus stress on lower-income households, conditions “appear more late-cycle than recessionary,” the analysts noted.
Source: https://thedefiant.io/news/markets/crypto-markets-down-btc-usd90k
