Have you ever watched a rally that felt unstoppable suddenly hit a brick wall? That’s exactly what’s happening in crypto right now. After weeks of euphoria pushing Bitcoin past $107,000, the mood has flipped—and not in a good way.
I’ve been tracking these markets long enough to know that sentiment can turn on a dime. One day you’re counting gains, the next you’re staring at red candles and wondering if you should’ve taken profits. Today, November 11, 2025, the entire crypto space is bleeding, and the numbers don’t lie.
A Broad Sell-Off Hits Crypto Hard
Let’s start with the big picture. Bitcoin, the undisputed leader, has fallen to around $103,361—a drop of over 2.46% in the last 24 hours. That might not sound catastrophic, but when you’re coming off all-time highs, every percentage point stings.
Ethereum isn’t faring much better. The second-largest cryptocurrency is down 2.26% to $3,474. Even assets known for volatility, like Solana and XRP, are taking heavy hits—Solana down nearly 5%, XRP off by 4.6%. It’s not just the majors either. Meme coins, layer-1 tokens, and DeFi darlings are all in the red.
This isn’t isolated profit-taking. This feels coordinated. Like the market collectively exhaled and decided risk wasn’t worth it anymore.
The Fear and Greed Index Tells the Story
If you follow market psychology—and you should—one metric stands out: the Crypto Fear and Greed Index. Right now? It’s sitting at 31. That’s deep in fear territory.
For context, anything below 25 is extreme fear. We’re not there yet, but we’re close. And here’s the thing: fear breeds hesitation. Hesitation kills momentum. And right now, momentum is dead.
Markets don’t move in straight lines. Pullbacks after parabolic runs are normal—but timing them is the hard part.
– Veteran crypto analyst
Last month’s liquidations left scars. Billions wiped out in hours. Whales got rekt. Retail traders panicked. Now? Nobody wants to be the last one holding the bag.
Futures Market Confirms the Caution
Want proof that traders are scared? Look at futures open interest. It’s down 1.16% in the past day to $144 billion. That’s a sharp decline from last month’s peak above $250 billion.
Open interest measures how much money is actively positioned in derivatives. When it drops like this, it means leveraged players are closing positions. They’re not opening new ones. They’re waiting. Watching. Holding cash.
- Less leverage = lower volatility risk
- Lower participation = weaker price support
- Reduced liquidity = bigger swings on news
In my experience, these kinds of deleveraging periods often precede either consolidation… or deeper corrections. We’ll get to that.
Stocks and Crypto: Dancing the Same Tune
Crypto doesn’t exist in a vacuum. Never has. And today, traditional markets are singing the same bearish song.
The Nasdaq 100 dropped 200 points. The S&P 500 shed 20. Both tech-heavy indices. Both considered “risk-on” assets—just like Bitcoin.
One name dominated the headlines: Nvidia. The AI chip giant fell nearly 4% after SoftBank reportedly dumped its stake. That sent ripples through the entire AI sector. CoreWeave? Down 14%. The “Magnificent Seven” gauge? Over 1% lower.
Here’s the connection: when big money rotates out of growth assets, it doesn’t distinguish between stocks and crypto. Both get hit. Both are seen as high beta—meaning they amplify macro moves.
Risk-off days in equities almost always bleed into digital assets. Correlation isn’t causation—but it’s real.
So if you’re wondering why your altcoins are down even more than Bitcoin? Blame Wall Street. At least partly.
Bitcoin’s Chart: Warning Signs Everywhere
Now let’s talk technicals. Because the charts? They’re screaming caution.
On the daily and weekly timeframes, Bitcoin has formed not one, but two classic bearish patterns:
- A double-top at ~$124,433 with a neckline around $107,060 (August’s swing low)
- A death cross: the 50-day WMA has crossed below the 200-day WMA—and it’s pointing down
Double-tops are reversal patterns. Death crosses confirm downtrends. Together? That’s a toxic combo for bulls.
Price has already broken below the neckline. The measured move from a double-top suggests a potential target near $90,000 if support fails. Yes, that’s a lot lower. But markets love symmetry.
Of course, nothing’s guaranteed. A strong bounce could invalidate both patterns. But right now? The path of least resistance is down.
| Pattern | Formation Level | Implied Target | Probability (Est.) |
| Double-Top | $124,433 | ~$90,000 | Moderate-High |
| Death Cross | 50/200 WMA | Trend Continuation | Confirmed |
Altcoins: Bleeding Worse Than Bitcoin
While Bitcoin’s down ~2.5%, many altcoins are suffering far worse. Here’s a snapshot:
- Solana (SOL): -4.9% → $159.33
- XRP: -4.6% → $2.43
- Starknet, Dash, Render, Zcash: Among top laggards
- Meme coins: Bonk, Pepe, dogwifhat all down 2–3%
Why the outperformance in pain? Simple: beta. Altcoins move harder and faster than Bitcoin in both directions. When sentiment sours, they get punished first—and hardest.
Interestingly, some sectors showed relative strength. Mid-cap tokens rose 14.8% on a relative basis last week. DePIN projects led gains. But layer-1s, gaming tokens, and memecoins? They lagged badly.
That rotation tells us something: money isn’t leaving crypto entirely. It’s moving within crypto—toward perceived safety or undervaluation.
What Experts Are Saying Right Now
According to Wintermute’s Jasper De Maere, we’re in a “stabilization phase marked by cautious sentiment.” His November 10 report laid it out clearly:
Market structure has improved and macro conditions remain supportive—but a broad altcoin rally is unlikely without Bitcoin leadership.
– Jasper De Maere, Wintermute
He’s not wrong. Bitcoin dominance is ticking up. When BTC falls, alts fall harder. When BTC stabilizes, alts need permission to recover. Right now? That permission hasn’t been granted.
Perhaps the most interesting aspect is how crypto has underperformed other risk assets recently. A month ago, BTC and ETH were crushing it. Now? They’re laggards. That divergence rarely lasts.
So What Happens Next?
Here’s where it gets tricky. Markets love to fake people out. A sharp bounce could trap bears. A breakdown below $100,000 could trigger cascading liquidations.
My take? We’re likely in a consolidation before continuation scenario. The bull market isn’t over—far from it. But we needed this breather. Parabolic moves need digestion.
Watch these levels closely:
- Support: $100,000 (psychological), $97,000 (200-day EMA)
- Resistance: $107,060 (neckline), $110,000 (local top)
- Invalidation: New ATH above $124,433
If Bitcoin holds $100K, expect altcoins to stabilize. If it breaks? Buckle up. We could see a flush toward $90K before buyers step in aggressively.
One thing I’ve learned after years in these markets: fear is temporary, but trends are stubborn. The long-term case for crypto remains intact. Institutional adoption, ETF inflows, nation-state buying—these aren’t going away.
Today’s pullback? It’s noise. Loud, painful noise. But noise nonetheless.
Stay disciplined. Manage risk. And remember: the best opportunities often come when everyone else is scared.
Because right now? The market is giving you a gift. Whether you unwrap it is up to you.
