Bitcoin clawed back above $65,000 on Sunday after briefly sliding under $62,000, capping a bruising stretch that has erased more than $300 billion from the broader crypto market since Thursday and left the two largest altcoins testing levels not seen in months.
The largest token traded near $65,900 in the latest session, down 1.8% over 24 hours, after touching $62,080, its weakest point in three months. The move extends a slide that began when Bitcoin peaked around $81,000 on November 4 and broke below $70,000 on Friday. Ether hovered near $1,800, down 18.1% on the week and 38.4% since January, while XRP slipped toward $0.90, roughly 48% below where it started the year.
A widely followed sentiment gauge registered 13, deep in extreme fear territory.
The selling has been driven by a combination of heavy ETF redemptions, forced unwinding of leveraged positions and a shift in interest-rate expectations that has sapped appetite for risk assets generally.
Note: Prices and changes as of Sunday, November 15, 2026.
U.S. spot Bitcoin exchange-traded funds shed about $1.91 billion across seven straight sessions through November 13, according to Farside Investors, with Friday alone accounting for $185.4 million, including $143.5 million pulled from BlackRock's IBIT. Ether funds lost $695.9 million in November through November 11, and XRP products posted their largest weekly outflow in roughly eight months at $19.1 million.
Leverage amplified the damage. CoinGlass put liquidations at roughly $2.02 billion over a 24-hour window, with Bitcoin positions accounting for about $750 million, nearly $600.5 million of it bullish bets. Forced closures of long positions tend to feed further selling as prices fall.
Macro data added to the gloom. October consumer prices rose 0.4%, above forecasts, with core prices up 0.3%, pushing back hopes for Federal Reserve rate cuts and strengthening the dollar.
BitMine Chairman Tom Lee offered several explanations for the rout, pointing to a selloff in artificial intelligence and semiconductor shares, particularly Nvidia, that may have triggered margin calls. He also suggested some investors may be raising cash to participate in Anthropic's initial public offering, which is scheduled to begin trading on Nasdaq on November 19, and that Binance customers may be converting assets returned after the exchange's October hack into cash or stablecoins. Lee did not quantify the effect of any of these factors, and public recovery figures do not show how much returned crypto was subsequently sold.
Despite the drawdown, Lee maintained his view that crypto could enter another long-term supercycle. BitMine's November 9 disclosure listed 6.07 million ETH, or 4.97% of supply, including 5.23 million staked tokens, and reported $6.23 billion in unrealized digital asset losses for its fiscal year ended August 31.
Technically, Bitcoin has lost its 200-week moving average, now around $67,850, a line that has served as a floor in past bear markets. The first line of defense sits at $60,000 to $62,000, where buyers stepped in during the decline. A break there would bring the July 1 low of $58,570 into view, with $58,000 also significant because the November 27 monthly expiry holds a large put block at that strike. The daily relative strength index near 22 is deeply oversold, a condition that has often preceded relief rallies but can persist for weeks. A weekly close back above $67,850 would open the door to $73,000, the max pain level for Friday's options expiry.
Ether lost $2,000 on November 13 and now trades inside the $1,750 to $1,850 band that has drawn buyers repeatedly. A breach would expose $1,450 to $1,550, a range analysts view as the average cost basis for long-term institutional holders. The token sits far below its 200-week average near $2,560, a sign of how weak the trend has become. Reclaiming $2,000 on a daily close, then $2,100, would be needed to signal a turn.
XRP fell as low as $0.89 on Sunday, its weakest since November 2024, before bouncing toward $0.96. Support sits at $0.90 and $0.85, with $0.75 flagged as a worst case. One warning sign: the 50-day average of whale transfers to Binance has nearly doubled since August, according to CryptoQuant. Transfers to an exchange are not confirmed sales but often precede them. December 1 brings Ripple's next monthly escrow release, making 1 billion XRP available.
The coming week offers several potential catalysts. Nvidia reports quarterly results on Tuesday, and a miss could weigh on technology shares and crypto alike. The Fed publishes minutes of its October meeting on Wednesday, Anthropic begins trading Thursday, and roughly 28,300 BTC in options expire on Deribit on Friday with max pain at $73,000.
The base case among market watchers is continued choppy trading that tests support, with Bitcoin revisiting $60,000 to $62,000, Ether holding near $1,750 and XRP probing $0.90 before oversold readings spark a relief bounce. A bear scenario would see ETF outflows persist after the Anthropic listing and Bitcoin lose $58,000, likely dragging Ether toward $1,500 and XRP to $0.75. The bull case requires fund flows to turn positive and Bitcoin to reclaim $67,850, which would put Ether back above $2,000 and XRP above $1.
Bitcoin remains the coin to watch. So long as it holds $60,000, the altcoins have room to stabilize; a break would likely hit them harder. A turn in both ETF flows and the fear gauge would be the clearest signal that the worst of the selling has passed.
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