On November 14, the cryptocurrency market painted another turbulent picture for traders and investors. Liquidations surged, prices retreated to psychological danger zones, and ominous technical signals – like the notorious “death cross” – flashed for major coins. Behind the crimson dashboards, however, live interviews, strategic pivots, and quiet institutional inflows hint at a market that’s as complex as it is volatile.
Market meltdown: the big picture
The global crypto market cap plunged over 6% in 24 hours, dropping to $3.27 trillion. Bitcoin (BTC) led the rout, trading as low as $95,934 – a 5.62% single-day drop, marking the first clear break under $100,000 since summer. Major tokens followed suit: Ethereum (ETH) -9%, XRP -8.4%, Solana (SOL) and Cardano (ADA) both tumbled over 8% as retail sentiment turned sharply negative and leveraged positions were liquidated across exchanges.
- Bitcoin (BTC): $97,078, down 5.62%
- Ethereum (ETH): $3,189, down 8.98%
- XRP: $2.29, down 8.41%
- Solana: $141.97, down 8.45%
- Cardano: $0.52, down 8.56%
The market downturn was largely attributed to a “liquidity shock.” Massive long position liquidations (nearly $600 million) amplified selling pressure, affecting both retail traders and institutional players. On the bright side, a handful of altcoins – like Lisk (LSK), Alchemix (ALCX), and Tellor (TRB) – defied the trend with double-digit gains, suggesting that pockets of speculative fervour remain.
XRP: death cross and the abyss
XRP emerged as the day’s cautionary tale. In technical circles, all eyes fixated on a looming “death cross”: the moment when the 50-day moving average crosses below the 200-day – a widely feared signal that often foreshadows deeper market corrections.
- The death cross was officially confirmed in October, triggering a sell-off and a 10% loss within days. Historical precedents show that similar setups previously sparked price drops of 32%.
- Support breached: XRP’s plunge below $2.29 and its failure to hold levels above $2.70 (the recent swing high) reinforced technical pessimism. RSI readings near 36 indicate dominant selling momentum, while the Awesome Oscillator and Chaikin Money Flow both flashed red – longstanding signs of bearish dominance.
- Despite retail panic (sentiment ratio at 0.86), some institutional players are quietly accumulating: $1.2 billion in XRP moved to cold storage, alongside over $200 million in new inflows.
Forecasts from technical analysts suggest a likely descent toward the $2.00 and possibly $1.60 levels without clear signs of buying pressure returning. A break below these zones could trigger new rounds of long liquidations, returning to test investor nerves.
What is a death cross, and why does it matter?
A death cross occurs when the 50-day average falls below the 200-day, signalling a potential shift from bullish to bearish trends. It’s feared not just for its gloomy name, but for its historical record as a herald of prolonged downturns. For XRP, this signal has reliably preceded multi-month corrections over the past few years.
Bitcoin and Ethereum: bruised but not broken
Bitcoin’s retreat below $100,000 serves as a psychological blow. Yet, technical chartists note early “strengthening bottom signals” for both BTC and ETH. Whales appear to be cautiously accumulating at these lower levels, with on-chain data showing steady inflows into cold storage amidst retail panic selling.
Ethereum holders, however, find themselves under pressure. Nearly 45,000 ETH per day have been offloaded by long-term holders, further suppressing price during an already weakened sentiment. Many analysts eye the $3,000-$3,200 range as a crucial test for bulls aiming for future rallies.
- Spot ETFs – still a double-edged sword. The XRP ETF from Canary Capital debuted with $58 million in opening-day volume, surpassing 2025 rivals despite broader market recoiling. Meanwhile, spot BTC ETFs recently witnessed their second-largest single-day outflow: $867 million withdrawn in 24 hours, reinforcing the link between ETF flows and overall liquidity shocks.
- AI and mining divergence. Bitfarms, a major Bitcoin mining player, revealed plans to exit crypto mining entirely by 2027, focusing instead on AI infrastructure. The outlook suggests blockchain’s “picks and shovels” economy might be giving way to the next digital gold rush – but not every player will survive the transition.
- Tokenization and global race. Executives at leading firms note developing markets leapfrogging the West in practical blockchain adoption, with digital asset ownership led by regulatory experimentation and real-world applications outside the G7 spotlight.
Reading the signs: what to watch next
- Support and resistance: For majors like BTC and XRP, observers remain glued to key psychological thresholds: $95K, $92K, and $2.00. A break below could accelerate capitulation, while a bounce might signal a short-term bottom.
- The ETF effect: Long-term, the influx and outflow of ETF investments will determine how many new investors remain for a post-crash recovery – or wait until the next bull cycle.
- Whale moves vs. retail panic: Quiet institutional accumulation amid public fear has historically marked market bottoms. On-chain evidence indicates that smart money might already be laying the groundwork for the next reversal.
Final note: opportunity in chaos?
This week’s events remind veterans that the crypto market is cyclical: a theatre of selloffs, sharp technical reversals, and the continual tussle between retail emotion and institutional calculations. For every “death cross,” there is, eventually, a golden sunrise – but it’s reserved for those who endure the storm.
Keep your stops tight, your charts open, and your eyes on the big picture. The next chapter in the crypto saga is always just a block away.
