- Bitcoin’s sharp fall below $100K sparks heavy liquidations as traders rush toward surging altcoins and privacy-focused tokens.
- Over $1B exits Bitcoin ETFs as institutions pull back, while Solana ETFs gain steady inflows amid broader market correction.
- Market mood weakens after GTA VI delay and profit-taking, yet optimism for long-term crypto recovery remains visible.
The cryptocurrency market faced a significant downturn this week, erasing most of the gains achieved since early 2025. Bitcoin’s sharp decline below the $100,000 mark triggered heavy liquidations across major exchanges.
According to Santiment on X, Bitcoin dropped 8.5% this week while altcoins such as $SOON, $ICP, $DASH, $ZEC, and $FIL recorded impressive surges. The total market capitalization fell from $4.4 trillion in October to $3.32 trillion, marking a 20% contraction in less than a month.
Bitcoin Declines as Altcoins Lead Market Momentum
Bitcoin’s drop from its November 10 record price of $126,200 to less than $100,000 signified a dramatic shift in market momentum. Leveraged assets worth billions of dollars were also destroyed by extensive liquidations brought on by increased selling pressure.
As a result, traders shifted their money into cryptocurrencies that were doing well in an effort to make quick money. Zcash ($ZEC) and Dash ($DASH), two privacy cryptocurrencies, reached multi-year highs; Zcash surpassed $630 and reached a $10 billion market capitalization. Additionally, Bitwise’s Spot Dogecoin ETF filing increased speculative activity across meme and privacy tokens and rekindled hope for Dogecoin.
Institutional dynamics intensified the market volatility. According to Sosvalue data confirmed by Wu Blockchain, U.S. spot Bitcoin ETFs recorded over $1 billion in total outflows since late October, reflecting waning investor confidence. On November 7 alone, all 12 Bitcoin ETFs posted outflows totaling $558 million.
Ethereum ETFs saw a $46.62 million loss due to widespread institutional dumping. Nonetheless, Solana spot ETFs saw net inflows of $12.69 million, indicating selective investor interest and the eighth consecutive day of increases. These movements demonstrate that during the market’s correction phase, institutional investors are reevaluating their exposure to risk.
Political and Economic Factors Influence Market Direction
President Trump’s pro-crypto policies earlier this year fueled a 35% surge in Bitcoin, supported by optimism during the December elections. However, the recent pullback erased most of those gains as traders booked profits and hedged against regulatory and macroeconomic uncertainty.
Additionally, Rockstar Games’ delay of Grand Theft Auto VI to November 19, 2026, hit investor sentiment. Take-Two Interactive shares fell 10%, indirectly cooling crypto-linked gaming enthusiasm. Polymarket traders still priced a 48% chance of Bitcoin reaching $1 million before the game’s release, showing speculative optimism despite volatility.
