From Coinpedia · By Shubham Vishwakarma
Story HighlightsBitcoin, Ethereum and Solana extended losses as selling pressure spread across the broader crypto market.
More than $1 billion in leveraged positions were liquidated, accelerating the decline.
Persistent ETF outflows and uncertainty surrounding US monetary policy are weakening institutional demand.
The cryptocurrency market is struggling to find support as Bitcoin, Ethereum and major altcoins extend their declines. Bitcoin traded near $73,400 on November 11, while Ethereum slipped toward $2,050 and Solana fell below $85. The broader market has come under pressure from institutional withdrawals, leveraged liquidations and growing macroeconomic uncertainty.
Advertisement With several major cryptocurrencies approaching important support levels, investors are increasingly questioning whether the latest correction has further room to run. Is the crypto market approaching a bottom, or could another wave of selling push prices lower?
Bitcoin, Ethereum and Solana Lead the Decline
The sell-off has extended beyond Bitcoin, with major altcoins recording steeper losses as investors reduce exposure to riskier digital assets. Bitcoin has struggled to recover above $75,000 after falling to its lowest levels since August. Ethereum has faced heavier selling, dropping toward $2,050, while Solana has slipped below $85.
The pressure is also visible across the wider market. XRP and other large-cap altcoins also faced significant selling pressure, highlighting the breadth of the correction.
More Than $1 Billion in Liquidations Accelerate Selling
Leveraged trading has amplified the market decline. Crypto futures liquidations reached approximately $1.1 billion in the 24 hours reported on November 9, with long positions accounting for a substantial share.
Ethereum recorded particularly heavy liquidations, reflecting the pressure on traders who had positioned for a price recovery. Meanwhile, futures trading volume surged above $180 billion as open interest declined to approximately $127 billion.
This combination points to significant position unwinding. As leveraged bullish bets are closed automatically, additional selling can push prices lower and trigger further liquidations, creating a cycle of downward pressure.
Crypto ETF Outflows Add to Institutional Selling Pressure
Institutional demand has also weakened as investors withdraw capital from spot crypto investment products. US spot Bitcoin ETFs recorded two consecutive weeks of net outflows, while Ethereum and Solana investment products also experienced withdrawals. Earlier in November, combined outflows across major US crypto ETFs exceeded $1.1 billion in a single week.
These withdrawals have become an important headwind because ETF demand has been a significant source of institutional buying. Continued redemptions could make it harder for Bitcoin and other major cryptocurrencies to establish a sustained recovery.