SKN | Bitcoin and Ethereum Extend Losses as Inflation and ETF Outflows Weigh on Crypto

Key Points:

• Total cryptocurrency market capitalization stood at approximately $2.46 trillion, while Bitcoin dominance reached 60.5%, highlighting the market’s continued concentration in its largest asset.
• Ethereum underperformed Bitcoin, declining 3.29% over 24 hours and 10.39% over seven days as selling pressure extended across major cryptocurrencies.
• Recent outflows from U.S. spot Bitcoin and Ethereum ETFs, combined with hotter-than-expected U.S. inflation, have reinforced a cautious environment for digital assets.

Crypto Market Weakness Deepens as Selling Spreads Across Major Assets

The cryptocurrency market remained under pressure in the latest supplied snapshot, with total market capitalization at approximately $2.46 trillion and 24-hour trading volume at $73.76 billion. Bitcoin traded near $73,840, down 1.55% over 24 hours and 5.18% over seven days. Ethereum recorded a sharper decline, falling to approximately $2,056 after losing 3.29% in 24 hours and 10.39% over the week. The divergence points to continued caution, with investors favoring Bitcoin relative to other major digital assets.

Bitcoin Retains Market Leadership as Ethereum Faces Deeper Selling

Bitcoin’s market capitalization stood at approximately $1.48 trillion, accounting for 60.5% of the total cryptocurrency market. Ethereum represented 10.2%, with a market value of approximately $251.27 billion. The gap in performance is significant: Bitcoin’s weekly decline was considerably smaller than Ethereum’s, suggesting that selling pressure has been more pronounced in the second-largest cryptocurrency.

BNB also remained under pressure, falling 1.77% over 24 hours and 3.36% over seven days to approximately $676.80. The broader pattern indicates that weakness is not limited to one major asset. However, Bitcoin’s rising dominance suggests that its relative resilience has not translated into a broad recovery across the market. Instead, capital appears more concentrated in the largest cryptocurrency while investors remain selective elsewhere.

ETF Outflows Signal Softer Institutional Demand

Institutional flows provide another indication of the market’s cautious tone. U.S. spot Bitcoin ETFs recorded approximately $201 million in net outflows on November 9, while spot Ethereum ETFs registered outflows of approximately $184.6 million during the same session. These figures refer to the latest reported U.S. trading session, not to the current cryptocurrency price snapshot.

ETF flows matter because these funds provide a direct channel for traditional investors to gain exposure to Bitcoin and Ethereum. Sustained withdrawals can reduce an important source of demand, particularly when prices are already declining. The latest figures do not establish that institutional investors have abandoned digital assets, but simultaneous outflows from both major asset groups indicate that demand has weakened at a sensitive point in the market cycle.

Hotter U.S. Inflation Adds Pressure to Risk Appetite

Macroeconomic conditions have become an additional headwind. The U.S. Consumer Price Index increased 0.4% in October, above economists’ 0.3% forecast, while core inflation rose 0.3%. The headline increase followed a 0.6% rise in September. The Bureau of Labor Statistics did not publish the usual annual inflation comparison because October 2025 data collection had been disrupted by the federal government shutdown.

The inflation surprise reinforced expectations that the Federal Reserve may need to maintain restrictive monetary conditions or consider another rate increase. Treasury yields and the U.S. dollar moved higher as markets reassessed the interest-rate outlook. For cryptocurrencies, the transmission mechanism is important: higher yields increase the relative attraction of traditional income-producing assets, while tighter financial conditions can reduce investor appetite for volatile investments such as Bitcoin and Ethereum.

Regulatory uncertainty has also contributed to caution. Investors have expressed concern about the possibility of a tougher U.S. congressional approach to cryptocurrency following the midterm elections. These concerns represent a potential policy risk rather than evidence that new restrictions have already become law.

Stablecoins Remain Near Their Pegs as Market Caution Persists

Stablecoin prices provide a useful measure of whether market weakness is spreading into dollar-linked digital assets. Tether traded near $0.9989, while USD Coin stood around $1.0009. Both remained close to their intended one-dollar values, with no visible indication of a significant loss of their market pegs in the supplied snapshot.

This relative stability contrasts with the declines in Bitcoin, Ethereum and BNB. It suggests that the current pressure is concentrated in volatile cryptocurrency assets rather than reflecting an immediate breakdown in the pricing of major dollar-linked tokens.

What the Crypto Market Is Watching Next

The next direction will depend partly on whether ETF withdrawals continue and how investors respond to the latest U.S. inflation figures. Treasury yields, Federal Reserve expectations and developments in Washington’s approach to digital-asset regulation will remain important sentiment indicators. A stabilization in institutional flows and broader risk appetite could help ease selling pressure. Until then, Bitcoin’s relative resilience may continue to contrast with weaker performance across Ethereum and other major cryptocurrencies.