Bitcoin, Ethereum Continue Downward Slide As Risk-Off Mood Slams Crypto
The world’s two largest cryptocurrencies, Bitcoin and Ethereum, extended their declines on Nov 17 amid an intensifying risk-off mood. Bitcoin was trading around US$94,860, while Ethereum stood near US$3,140.
Renewed caution about central bank policy and fading hopes for rapid rate cuts are sending investors away from high-volatility assets like crypto. Ongoing outflows from spot ETFs tied to both Bitcoin and Ethereum are amplifying the pressure by reducing liquidity and institutional support.
Ethereum is also facing heightened derivatives market strain, with short positions building and funding rates turning negative, yet key on-chain support levels remain in place, hinting at some resilience among long-term…
