**Crypto Market Recap: Bitcoin Drops Below $100,000 and Markets Slump Amid Global Sell-Off**
By Francisco Rodrigues
*All times ET unless indicated otherwise*
—
The Czech National Bank has made history as the world’s first central bank to purchase bitcoin (BTC) at $95,614.67. In the U.S., the debut of a spot XRP exchange-traded fund (ETF) saw impressive trading volume. Yet, the main headline is bitcoin’s dramatic fall below $100,000 and a broader crypto market crash.
The CoinDesk 20 (CD20) index dropped 8.35% over the last 24 hours, reflecting a wider market downturn that also hit traditional equities: the Dow Jones Industrial Average fell 1.65% and the tech-heavy Nasdaq lost 2.29% on Thursday. Spot bitcoin ETFs were hit hard, with investors withdrawing $869 million—the second-largest daily exit on record. Over the past three weeks, spot bitcoin ETFs have seen $2.64 billion in outflows.
Crypto market maker Wintermute noted:
*”We’re seeing steady interest in owning long-dated BTC vol around 80-120k, paired with selective short-term call selling (classic covered call activity). Positioning leans neutral-to-cautious but shows no appetite to chase big downside.”*
For ether options, Wintermute added:
*”There’s consistent downside hedging into year-end and active call selling across the curve, especially $3,500–$4,000.”*
Overall, traders are bracing for further downside.
The ongoing sell-off triggered more than $1.11 billion in liquidations over the past 24 hours, according to CoinGlass. This comes as expectations for a U.S. interest-rate cut in December are fading, and concerns about a possible AI bubble increase. The CME’s FedWatch tool now shows nearly even odds for a rate cut, while Polymarket traders give a 25 bps cut a slight edge—52% probability, down from 90% late last month.
Adding to market uncertainty, the White House said key economic indicators, including October inflation, may not be released due to data delays following the government shutdown.
*”Now that the AI excitement is cooling and more questions are raised around spending, concerns around the K-shaped economy in the US are raised again,”* Wintermute wrote.
Despite major milestones, including spot ETFs from leading issuers and a central bank buying BTC, macroeconomic headwinds remain. The crypto sector continues to face pressure.
—
## Market Highlights
**Price Movements**
– **BTC**: $104,909.52 (down 1.87% from 4 p.m. Thursday, 24hrs: -6.05%)
– **ETH**: $3,160.31 (down 0.56%, 24hrs: -9.6%)
– **CD20 Index**: 3,096.79 (down 1.17%, 24hrs: -8.14%)
**Other Markets**
– **Gold Futures**: $4,170.90 (down 0.56%)
– **Silver Futures**: $52.60 (down 1.08%)
– **Nikkei 225**: 50,376.53 (closed down 1.77%)
– **Hang Seng**: 26,572.46 (closed down 1.85%)
– **FTSE**: 9,675.09 (down 1.35%)
– **Euro Stoxx 50**: 5,684.85 (down 1.01%)
– **DJIA**: 47,457.22 (closed down 1.65%)
– **S&P 500**: 6,737.49 (closed down 1.66%)
– **Nasdaq Composite**: 22,870.36 (closed down 2.29%)
**Key Stats**
– **BTC Dominance**: 59.77% (-0.67%)
– **Ether-Bitcoin Ratio**: 0.0327 (+0.84%)
– **BTC Hashrate (7-day MA)**: 1,089 EH/s
– **BTC Hashprice (spot)**: $40.31
– **BTC Total Fees**: 2.96 BTC / $300,582
—
## Technical Analysis
The chart of Volmex’s 30-day bitcoin implied volatility index (BVIV) reveals a pennant pattern—a triangular consolidation after the recent breakout of a bullish trendline. Historically, such patterns suggest a temporary pause before another upward move. This suggests BTC price volatility expectations may rise in the near-term.
—
## Crypto Equities Performance
– **Coinbase Global (COIN)**: $283.14 (closed, -6.86%); $277.99 (pre-market, -1.82%)
– **Circle Internet (CRCL)**: $82.34 (closed, -4.59%); $81.83 (pre-market, -0.62%)
– **Galaxy Digital (GLXY)**: $27.24 (closed, -12.89%); $26.33 (pre-market, -3.34%)
– **Bullish (BLSH)**: $41.02 (closed, -9.85%); $40.20 (pre-market, -2%)
– **MARA Holdings (MARA)**: $12.78 (closed, -11.31%); $12.51 (pre-market, -2.11%)
– **Riot Platforms (RIOT)**: $13.88 (closed, -10.22%); $13.52 (pre-market, -2.59%)
– (Additional equities listed in original report.)
—
## ETF Flows
**Spot BTC ETFs**
– Daily net flows: **-$866.7 million**
– Cumulative net flows: **$59.33 billion**
– Total BTC holdings: ~**1.34 million**
**Spot ETH ETFs**
– Daily net flows: **-$259.6 million**
– Cumulative net flows: **$13.33 billion**
– Total ETH holdings: ~**6.48 million**
*Source: Farside Investors*
—
## Upcoming Events
### Nothing Scheduled (Crypto, Macro)
### Earnings (Estimate based on FactSet Data)
– **Nov. 14**: American Bitcoin (ABTC), pre-market
– **Nov. 14**: Hive Digital Technologies (HIVE), post-market
### Token Events
– **Unlocks**
– Nov. 15: WalletConnect Token (WCT) unlocks 65.21% of circulating supply ($13.76M)
– Nov. 15: CONX unlocks 2.92% ($25.45M)
– Nov. 15: STRK unlocks 5.34% ($14.44M)
– Nov. 16: ARB unlocks 1.94% ($24.76M)
– **Token Launches**
– Nov. 14: Pieverse listed on Binance, MEXC, BingX, XT, and others
### Governance Votes & Calls
– **Convex Finance**: Voting to discontinue OFT token support for assets like frxETH on Polygon zkEVM and Blast due to deprecation or inactivity. Voting ends Nov. 14.
### Conferences
– Day 3 of 3: Blockchain Summit Latam 2025 (Medellin, Colombia)
– Day 2 of 2: Bitcoin Amsterdam
– Nov. 14: ICAEW’s Crypto and Digital Assets Conference (London)
– Day 1 of 2: Adopting Bitcoin 2025 (San Salvador, El Salvador)
*For a more comprehensive list of upcoming events, see CoinDesk’s “Crypto Week Ahead”.*
—
Stay alert for further movements as macroeconomic uncertainty, ETF outflows, and sector volatility continue to impact the crypto markets.
—
**Read more:**
For analysis of today’s activity in altcoins and derivatives, see *Crypto Markets Today*.
For a detailed events calendar, check out CoinDesk’s “Crypto Week Ahead”.
—
https://www.coindesk.com/daybook-us/2025/11/14/running-for-the-exits-crypto-daybook-americas