Ah, what a glorious day for the crypto world! Not the kind of “glorious” you want to tweet about, but more of the “let’s pretend we didn’t see that” kind of glorious. Prices have plunged again, proving that the market is still stuck in its month-long downward spiral. Is it a mid-cycle correction or just the crypto universe having a collective meltdown? Only time will tell, but here’s what happened today, in case you missed it (lucky you if you did!).
- Total crypto market cap has officially sunk below $3 trillion, now hanging around $2.95 trillion. Major assets have taken a hit, falling 7-8%.
- Almost $958 million in liquidations-yes, nearly $1 billion-wiped out in a day. How delightful for traders.
- Analysts are calling this mess a “mid-cycle correction,” but let’s be honest, it feels more like a “market-wide panic attack” linked to liquidity issues and macroeconomic stress.
The total crypto market capitalization has officially fallen below the $3 trillion mark, the first time since May 8. RIP $3T. Bitcoin is now languishing at $85,310, down 7% in the last 24 hours, making it the perfect time for all the “HODLers” to reassess their life choices. Ethereum is at $2,784, XRP at $1.96, and Solana, bless its soul, is at $130-each falling between 7% and 8.4%. 🍂
Not a single top-100 coin is showing any real strength today. The Bitcoin gains for the year? Gone. Sentiment? It’s deep in the “extreme fear” zone. And even though the Fear and Greed Index is up two whole points from yesterday, it’s still stuck at 14. But hey, two points is something, right? 😅
According to CoinGlass (the oracle of doom), nearly $958 million in positions were obliterated in the past 24 hours. Open interest has plummeted 7%, leaving $133 billion in its wake. Meanwhile, the crypto market’s relative strength index is now languishing at 39, which, for those who don’t speak “market-speak,” means “weak.” Ouch.
Liquidity Woes from October and the Macro Monstrosity
Market analysts are pointing at the lingering scars from October’s liquidity crunch. Remember that glorious Oct. 10 flash crash that wiped out $19 billion in leveraged positions? No? Well, it certainly hasn’t forgotten about you. 😬
Tom Lee, chairman of Bitmine and co-founder of Fundstrat, says firms are still nursing their wounds, cutting activity, and unwinding risk. He kindly reminded us that it took eight weeks for the market to stabilize after a similar crash in 2022, and guess what? We’re already six weeks into this correction. So… hang in there?
As if that wasn’t enough, crypto is feeling the brunt of macroeconomic factors too. Inflation? Still a problem. The Federal Reserve’s signals are killing hopes for a December rate cut, and higher interest rates are making crypto look like an unattractive date. 💔
Meanwhile, capital is rotating out of crypto and AI stocks into “safe” tech and semiconductors. Oh, and in case you missed it, JPMorgan reported that $4 billion has exited BTC and ETH ETFs since early November. That’s the largest outflow since February. Run for the hills! 🏃♂️
What’s Next for BTC and the Crypto Carnival?
Some analysts are trying to look on the bright side, predicting this drop is just a “mid-cycle reset” rather than a full-fledged bear market. Historical trends tell us that 20-30% pullbacks are pretty common during bull runs. So, who knows? Maybe we’ll recover. Eventually.
Ki Young Ju, CEO of CryptoQuant, is cautiously optimistic. He believes the recent dip might actually be a buying opportunity for long-term Bitcoin holders, suggesting the market is near a bottom. “No pain, no gain,” right? 💪
If you’re not into futures trading and are just holding Bitcoin spot, this might be a good time to accumulate more.
To be real, the bull cycle technically ended earlier this year when Bitcoin touched around $100K. But hey, it’s all part of the cycle, right? Classic.
– Ki Young Ju (@ki_young_ju) November 20, 2025
Binance‘s founder, Changpeng Zhao, chimed in too, reminding everyone that every dip feels like the end of the world, but spoiler alert, the cycles keep turning. And Jake Kennis from Nansen warned that until long-term holders stop selling, short-term declines could persist. So yeah, don’t go popping the champagne just yet. 🍾
According to VanEck’s long-term predictions, the bull market might not peak until Q1 2026, with new highs possibly coming as soon as late 2025, once stablecoin supply reaches new all-time highs. You know, just a casual five-year wait. 🕰️
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2025-11-21 09:03