Crypto Market Slides as BTC, ETH Lead Broad Decline on ETF Outflows

I. Crypto Market Overview

Key Takeaways

Macro Environment

The Federal Reserve is expected to keep rates unchanged at the December FOMC, supporting short-term crypto stability. Delayed US macro data due to the government shutdown has increased volatility and risk premiums. Japan's ¥17 trillion stimulus package may boost global risk appetite and support digital asset inflows.

Crypto Market

The crypto market saw broad declines over the past 24 hours, with BTC down 4.43% to $97,474 and ETH falling 9.27% to $3,144.86, pressured by ETF outflows and weak sentiment. Altcoins also dropped, with DCR down 14.71%, DASH down 6.69%, and SOL down 8.75%. Decred led losses after a prior surge, while Telcoin fell 4.06% despite fintech progress.

Today's Outlook

No major token unlocks or protocol launches are scheduled for November 16, 2025. Market focus remains on macroeconomic data releases and ongoing ETF flows, which may drive volatility and sector rotation throughout the day.

Fear and Greed Index

48.00% Annual Percentile

16 Fear

Total Crypto Market Cap

$3.24T

0.52%

Total Market Trading Volume

$100.01B

57.15%

Altcoin Season Index

83.33%

Quarterly Percentile

33 / 100

Total Futures Market Open Interest

4.28B

0.82%

Futures

752.54B

10.13%

Perpetuals

II. Industry Updates

Macro-economic Policies

Polymarket users are increasingly betting that the Federal Reserve will keep interest rates unchanged at the December FOMC meeting, reflecting market consensus for a pause in monetary policy. This expectation supports short-term stability in BTC and DeFi liquidity as rate uncertainty diminishes.

Recent U.S. macroeconomic data delays due to the government shutdown have heightened volatility in crypto markets, with traders awaiting the upcoming September jobs report and Q3 GDP release. The lack of timely data has increased risk premiums and contributed to thin liquidity across BTC and ETH markets.

Japan is preparing a ¥17 trillion economic stimulus package aimed at supporting households and boosting domestic demand. This fiscal expansion is expected to enhance risk appetite in global markets, potentially increasing capital flows into digital assets and supporting crypto market sentiment.

Britain faces stagnation, persistent inflation, and rising unemployment, prompting calls for a major autumn Budget stimulus on November 26. Anticipated fiscal measures could influence GBP volatility and indirectly affect crypto market flows as investors adjust risk allocations.

India's retail inflation, excluding gold, remains negative, while GDP growth stays robust. This unusual macro mix challenges the Reserve Bank of India’s policy stance, with subdued inflation supporting INR stability and potentially encouraging further institutional participation in digital assets.

Cryptocurrency Regulatory Trends

US President Trump has reiterated his commitment to ensuring US leadership in the global cryptocurrency sector, signaling potential for more supportive regulatory policies and boosting investor confidence.

Ripple's XRP is gaining traction in global payments due to ISO 20022 compliance, enhancing its appeal among regulated financial institutions and potentially increasing institutional adoption.

Kraken has confirmed it will not pursue a US IPO, citing strong financial health and a conservative strategy, reflecting a trend of major exchanges prioritizing operational stability over public listings.

The launch of the first spot XRP ETF achieved record trading volume for 2025, marking a milestone for institutional adoption and indicating growing regulatory acceptance of crypto investment products.

Dubai has launched a pilot program for crypto payments in government services, with strict regulatory oversight and fiat conversion, highlighting the region's progressive yet compliant approach to digital assets.

Decred (DCR): Decred surged 30% in 24h with $38M volume, driven by renewed interest in its hybrid PoW/PoS governance and decentralized treasury model.

DASH (DASH): DASH jumped 23% in 24h, reaching $96 with $947M volume, as investors flocked to its fast, privacy-focused payments and masternode rewards.

Telcoin (TEL): Telcoin rose 18% in 24h to $0.0061, with $12.8M volume, boosted by global fintech expansion and regulatory progress in digital asset banking.

Smart Money Movements

Harvard University increased its IBIT Bitcoin ETF holdings by 257% in Q3 2025 to $442.8 million, making it the endowment's largest single position and ranking Harvard as the 16th largest IBIT holder.

A major Ethereum whale withdrew 199,720 ETH (about $632.47 million) from Aave V3 and sent 44,000 ETH ($140.24 million) to Binance, signaling the start of closing a large long position with an estimated $70 million loss.

Goldman Sachs acquired 17.4 million additional shares of BlackRock's Ethereum spot ETF in Q3 2025, bringing its total to 42.3 million shares and solidifying its status as the largest institutional holder.

Brown University disclosed $13.8 million in IBIT stock holdings, while Emory University reported 1,023,417 shares of Grayscale Bitcoin Mini Trust worth $51.82 million and 4,450 shares of iShares Bitcoin Trust valued at $289,000 as of September 30.

MicroStrategy purchased Bitcoin every day this week, continuing its aggressive accumulation strategy and reinforcing its commitment to BTC as a core treasury asset.

Events to Watch

Nov 17 (Mon)

Japan will release Q3 GDP data, offering key insights into the country's economic performance; Base Batches Demo Day at DevConnect Buenos Aires features 40 teams' live pitches.

Nov 18 (Tue)

The United States will publish Industrial Production data, a major indicator for economic activity; Ethereum Foundation hosts its first App Town Hall at DevConnect Buenos Aires.

Nov 19 (Wed)

The United Kingdom will release CPI inflation data, which may influence monetary policy and market sentiment.

Nov 20 (Thu)

The US will release Non-Farm Payrolls and the September Employment Situation Report; Federal Reserve will publish monetary policy meeting minutes and New York Fed President Williams will speak.

Nov 21 (Fri)

Japan will release October CPI data; US Bureau of Labor Statistics will publish September real income data; multiple Fed officials, including Williams, Goolsby, Paulson, and Logan, will deliver speeches.

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