Crypto Market Slides as BTC, ETH Drop; FOMC Minutes and Token Unlocks in Focus

I. Crypto Market Overview

Key Takeaways

Macro Environment

The US SEC has removed crypto from its 2026 examination priorities, signaling a more accommodative regulatory stance. The Federal Reserve remains divided on rate cuts, with upcoming FOMC minutes and delayed economic data closely watched by markets. Hong Kong approved Swiss bank AMINA for institutional crypto services, highlighting Asia's push for regulated digital asset growth.

Crypto Market

The crypto market saw broad declines over the past 12 hours, with Bitcoin down 4.43% to $97,474 and Ethereum dropping 9.27% to $3,144, pressured by ETF outflows and risk-off sentiment. Starknet (STRK) fell 3.32%, while AB gained 0.25%. Altcoins underperformed, with no major sector outperforming. Weak spot demand and macro uncertainty drove the selloff.

Today's Outlook

Key events today include the release of FOMC meeting minutes, which may clarify the Fed's policy outlook and impact risk assets. Notable token unlocks for zkSync and Merlin Chain are also scheduled, potentially increasing short-term volatility in related tokens.

Fear and Greed Index

80.00% Annual Percentile

15 Fear

Total Crypto Market Cap

$3.17T

1.44%

Total Market Trading Volume

$203.70B

0.77%

Altcoin Season Index

45.45%

Quarterly Percentile

31 / 100

Total Futures Market Open Interest

4.36B

3.23%

Futures

808.36B

2.82%

Perpetuals

II. Industry Updates

Macro-economic Policies

The Federal Reserve cut interest rates by 0.25% to support the labor market, increasing market volatility and impacting Bitcoin and DeFi liquidity as investors reassess risk exposure.

US delayed economic data, including jobless claims and PPI, will be released this week, with market participants closely watching for signals on economic health that could drive BTC and altcoin price swings.

The Australian dollar remained stable after wage growth met RBA expectations, supporting current monetary policy and providing a steady backdrop for crypto market participants exposed to AUD pairs.

Japan's core machinery orders rose sharply, signaling strong capital expenditure, which may boost risk appetite and indirectly support crypto inflows as investors seek higher returns.

Deutsche Bank maintained a bullish outlook on gold, citing central bank purchases and potential price increases toward $4,000 per ounce, which could influence Bitcoin's narrative as a digital store of value.

Cryptocurrency Regulatory Trends

The US SEC has removed crypto assets from its 2026 examination priorities, signaling a regulatory shift that may boost market confidence and reduce compliance pressure for crypto firms.

Brazil plans to impose a new tax on cross-border crypto payments, increasing compliance costs and potentially slowing crypto adoption in the region.

Hong Kong granted Swiss bank AMINA approval to offer institutional crypto trading and custody, reflecting the city's push to attract global digital asset businesses and expand regulated market access.

Ghana has introduced a comprehensive framework to regulate virtual asset service providers, aiming to enhance user protection and align with global anti-money laundering standards.

Bermuda has enforced stricter 'travel rule' requirements for digital asset transfers, mandating detailed sender and recipient data to strengthen anti-money laundering compliance in the crypto sector.

Starknet (STRK): STRK surged 17.94% in 24h, driven by high trading volume of $475M and renewed ecosystem interest, though no major protocol news was found in the last 24h.

AB (AB): AB gained 17.36% in 24h with $25.5M volume, likely fueled by speculative trading activity; no significant project event or listing was identified in the latest news.

100SPX (100SPX): 100SPX rose 16.23% in 24h, recording $51.9M in volume. The rally appears to be momentum-based, as no major upgrade or listing was reported in the past day.

Smart Money Movements

MicroStrategy acquired 8,178 BTC for $836 million between November 10 and 16, raising its total holdings to 649,870 BTC, over 3% of Bitcoin's total supply.

BlackRock deposited 3,064 BTC (about $280 million) and 64,707 ETH (about $198 million) to Coinbase Prime, totaling $478 million, indicating continued institutional activity.

A wallet linked to Mt. Gox moved 10,608 BTC worth approximately $953 million after eight months of inactivity, sparking renewed market concerns.

Bitdeer increased its Bitcoin reserves by 202 BTC, bringing its total holdings to 2,470.3 BTC and ranking as the 31st largest Bitcoin holder globally.

Cypherpunk Technologies acquired 29,869 ZEC for $18 million, boosting its total Zcash holdings to 233,644.56 ZEC, representing 1.43% of the network supply.

Events to Watch

Nov 19 (Wed)

FOMC meeting minutes to be released, offering insights into Fed policy outlook; zkSync and Merlin Chain token unlocks scheduled.

Nov 20 (Thu)

LayerZero and Kaito token unlocks; US September nonfarm payrolls and jobs report to be released after shutdown delay.

Nov 21 (Fri)

Plume Network token unlock; University of Michigan Consumer Sentiment Index (Revised) release; Kinetiq Terms signing deadline for Pendle markets.

Nov 23 (Sun)

Monad token sale closes on Coinbase; Meteora token unlock scheduled.

Nov 24 (Mon)

Monad token distribution and mainnet launch; Grayscale to debut first US spot Dogecoin ETF.

III. Phemex Market Focus

New Listings

Nov 18: (PIEVERSE/USDT)

Pieverse is a Web3 payment compliance infrastructure enabling verifiable and compliant crypto payments.

Nov 15: (SENT/USDT)

Pre-Market futures trading for SENTUSDT with hedge mode and 20X leverage.

Nov 14: (PIEVERSE/USDT)

New futures trading pair PIEVERSEUSDT with hedge mode and 20X leverage.

Nov 13: (BEAT/USDT)

New futures trading pair BEATUSDT with hedge mode and 20X leverage.

Nov 12: (ALLO/USDT)

New futures trading pair ALLOUSDT with hedge mode and 20X leverage.

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