Summary of this article
Bitcoin and major altcoins continued extending steep weekly losses amid selling pressure.
High US inflation, potential rate hikes, and ETF outflows pressured crypto prices.
Analysts expect ongoing volatility while investors monitor upcoming Fed decisions and support.
Bitcoin has slipped below the $74,000 mark with several major cryptocurrencies also trading lower. The recent movement has brought renewed attention to the performance of digital assets.
Bitcoin And Major Altcoins Continue To Trade Lower
Bitcoin was trading at $73,520.24, down 0.31 per cent in the past 24 hours. Its decline over the past seven days stood at 8.48 per cent, at the time of writing. The decline was not limited to Bitcoin, as several major altcoins also recorded losses over both the past 24 hours and the last seven days.
Ethereum was trading at $2,042.41, down 1.08 per cent in the past 24 hours and 15.60 per cent over the past seven days. BNB fell 1.05 per cent in the past 24 hours to $673.62, while its decline over the past seven days stood at 5.52 per cent.
XRP was trading at $1.03, down 1.46 per cent in the past 24 hours and 20.54 per cent over the past seven days. Solana declined marginally by 0.13 per cent in the past 24 hours to $82.73, but declined 13.70 per cent over the past seven days. Cardano was trading at $0.1723, down 1.57 per cent in the past 24 hours. Its decline over the past seven days stood at 12.53 per cent.
According to CoinMarketCap data, the total cryptocurrency market capitalisation was down 0.51 per cent at $2.44 trillion. Meanwhile, Bitcoin spot exchange-traded funds (ETFs) recorded outflows of around $39 million on November 11, 2026, while Ethereum spot ETFs saw outflows of approximately $10 million on the same day.
Why Is The Crypto Market Under Pressure?
The recent decline in cryptocurrencies has coincided with concerns over US monetary policy, weakening institutional flows, and reduced liquidity in the market.
Balaji Srihari, vice president and business head at CoinSwitch, said Bitcoin’s decline towards $73,000 reflected macroeconomic uncertainty and a broader correction in risk assets. He said higher-than-expected US inflation in October had strengthened expectations of a possible Federal Reserve rate hike in December. This coincided with around $1.28 billion in outflows from US spot Bitcoin ETFs during the first week of November.
He said, “Ethereum and XRP have experienced sharper declines because altcoins tend to exhibit higher sensitivity to shifts in market sentiment and liquidity.”
Prateek Gupta, head of business at Mudrex, said the decline reflected a re-pricing of global liquidity, with stronger-than-expected US inflation pushing markets to factor in a possible December rate hike.
What Lies Ahead For The Crypto Market?
The recent losses have raised concern about whether the market will stabilise or face further pressure in the coming days.
Prateek Gupta, head of business at Mudrex said he expected volatility to continue in the near term. He said, “Key signals to track are the US Fed’s December 8-9 decision, spot ETF flows, funding rates, and open interest.” He also pointed to US technology stocks as an indicator to watch.
The decline has also renewed concerns about whether the market is entering a deeper bearish phase.
Balaji Srihari, vice president and business head at CoinSwitch said the current decline could be a phase of consolidation rather than the beginning of a deeper bearish trend. However, continued ETF outflows and weaker market indicators suggested that investors should remain cautious. He said Bitcoin’s ability to hold the $72,000-$73,000 range will be important in determining the market’s direction.
