Crypto Market Sees Mild Pullback: Understanding the Current Trends
The cryptocurrency market has experienced a slight decline, with the market capitalization falling by 1.6% to $3.24 trillion. Currently, 65 of the top 100 coins have dropped over the past 24 hours, with the total crypto trading volume standing at $150 billion. This downturn has sparked concerns among investors, prompting questions about the sustainability of the drop and the factors driving it.
According to recent data, 9 of the top 10 coins by market capitalization have seen their prices decrease over the past 24 hours. Bitcoin (BTC) is down by 1.9% since yesterday, currently trading at $91,799, while Ethereum (ETH) fell by 0.5%, now changing hands at $3,211. The category’s biggest drop is 4.7% by XRP, currently standing at $2.25.
Crypto Winners and Losers
Among the top 100 coins, 65 recorded drops, with Provenance Blockchain (HASH) being the only one with a double-digit red percentage, down by 10.3% to $0.02686. On the other hand, Tron (TRX) has appreciated 1.1% and is trading at $0.2944, going against the overall market trend. Hyperliquid (HYPE) and MemeCore (M) are also up 3.4% and 3.2% to $27.42 and $1.68, respectively.
The US Department of Justice (DOJ) has liquidated 57 BTC forfeited by Samourai Wallet developers through Coinbase Prime on 3 November 2025. Senator Cynthia Lummis has criticized this move, stating that the United States “can’t afford to squander these strategic assets while other nations are accumulating bitcoin.”
US Federal Reserve’s Dovish Remarks
US Federal Reserve Governor Stephen Miran said that the current interest rate policy is “clearly restrictive.” There is justification for rate cuts “well in excess of 100 basis points” in 2026, he added. According to Bitunix analysts, “the remarks are distinctly dovish and stand in sharp contrast to views held by some officials who believe policy is already near neutral, underscoring widening internal divergence within the Federal Reserve over the economic outlook and the appropriate policy stance.”
Renewed ETF Demand and Market Sentiment
Fabian Dori, CIO at Sygnum, commented on the recent renewed ETF demand, arguing that it is “increasingly relevant for market structure.” ETF demand is steadily absorbing circulating supply, Dori says, suggesting a potential long-term demand shock rather than short-term speculative flows. The crypto market sentiment has stayed unmoved for the past two days, still holding firm in neutral territory, with the crypto fear and greed index standing at 49.
Levels and Events to Watch Next
At the time of writing, BTC stood at $91,799, with a choppy trading day. It initially plunged from the intraday high of $94,343 to the low of $91,544, recovering to the $93,600 level before falling nearly to the intraday low again. Should the coin hold the $91,000 level, it may soon see another leg up towards $94,000 and $96,000. However, if BTC falls below $90,000, it could be dragged back to the $85,000 level.
Ethereum is currently changing hands at $3,211, with several larger recoveries and falls over the past 24 hours. It climbed several times towards the intraday high of $3,300 before falling towards the intraday low of $3,196. ETH could be on the way to the sub-$3,100 levels, followed by a pullback towards $2,900. Yet, if it holds, it may continue the recent push upwards towards $3,600 and $3,800.
BTC and ETH ETFs: A Mixed Bag
US BTC spot exchange-traded funds (ETFs) recorded negative flows, with a total outflow of $243.24 million on Tuesday. In contrast, US ETH ETFs posted another day of positive flows, with $114.74 million in inflows. The total net inflow for ETH ETFs increased slightly to $12.79 billion. BlackRock took in $198.8 million in inflows, followed by 21Shares and Bitwise with $1.62 million and $1.39 million, respectively.
Index provider MSCI plans to exclude digital asset treasury companies from its equity indexes. “Distinguishing between investment companies and other companies that hold non-operating assets, such as digital assets, as part of their core operations rather than for investment purposes requires further research and consultation with market participants,” MSCI said.
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