At around 10:21 AM IST, Bitcoin slipped 0.97% in the past 24 hours. Ethereum was down 2.83% at $3,636, while major altcoins — including BNB, XRP, Solana, Dogecoin, Tron, Cardano, and Hyperliquid — dropped over 6%. Overall, the global crypto market cap fell 1.23% to $3.56 trillion, according to CoinMarketCap.
Also Read | Quant Mutual Fund increases exposure in NBFCs and PSU banks, launches India’s first SMID SIFAccording to the CoinDCX Research Team, the crypto market appears to have entered a strong downward trend, with Bitcoin hitting an intraday low near $105,300 before recovering slightly to $106,400. Alongside Bitcoin, other major cryptocurrencies such as Ethereum, XRP, and Solana also witnessed significant losses, while BNB’s price slipped below the $1,000 mark.“Bitcoin holdings on exchanges have dropped by more than 200K in the past 6 months as traders continue to hold despite market volatility,” the CoinDCX Research Team added.
In the past week, Ethereum edged down 11.18% whereas Bitcoin went down by 6.06%. The altcoins have gone down by over 17% in the past week.Riya Sehgal, Research Analyst at Delta Exchange, said the crypto market is facing renewed selling pressure, with Bitcoin slipping below $107,000 and Ethereum trading under $3,650. XRP and Solana dropped over 3% and 6.5%, respectively, amid a global liquidity squeeze that triggered $1.1 billion in liquidations over the past 24 hours.While sharing the technical aspect, Sehgal said that Bitcoin falling below its 200-day EMA signals continued downside risk unless it reclaims $109.5–$110K and the support lies at $106K–$105K, with a potential drop to $103.5K if selling persists.
“Ethereum is consolidating near $3,600, with a breakdown likely leading to further declines. Despite short-term weakness, November remains historically strong for Bitcoin. Renewed U.S. government spending, corporate buybacks, and potential Fed liquidity could spark a rebound later in the month,” the Research Analyst at Delta Exchange added.
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What other expert say
Vikram Subburaj, CEO, Giottus.comBitcoin steadied around $106,500 in early trade after a week-long slide that saw long-term holders offload larger tranches of BTC. Market desks remain split on the driver, with some citing profit-taking by early investors and others pointing to a liquidity rotation back into equities. The BTC fear-and-greed indicator was at 27 and indicated scepticism. Even so, the market’s ability to absorb supply without breaking $104,000 suggests structural support remains intact, even as momentum has cooled.
Capital is gravitating to traditional risk assets. Equities continue to rally on strong earnings and AI optimism, while crypto lags amid liquidity outflows from digital assets. With leverage and funding rates largely flat, traders are waiting for fresh macro cues rather than placing directional bets. The pause in quantitative tightening and resilient equity inflows could still provide a liquidity tailwind if risk appetite broadens later this month. For now, crypto markets appear to be recalibrating as they digest supply from legacy holders and await any renewed macro tailwinds to validate a broader recovery.
