Altcoin supply in profit dropped to ~5%, marking unprecedented divergence from Bitcoin holdings.
Privacy coins surged, with Zcash gaining 15.9% and Litecoin gaining 13.7% over the past 24 hours.
Solana ETFs attracted $46.4 million while Bitcoin and Ethereum funds saw a combined $1.84 billion exit.
The cryptocurrency market maintained a $3.35 trillion capitalization on Nov. 15 despite extreme fear readings and significant institutional outflows. The Fear and Greed Index plummeted to 10, its lowest level in years, while US Bitcoin spot ETFs ended the week with heavy losses.
The Crypto Fear and Greed Index dropped to 10 from 16 the previous day, according to Alternative.me’s tracking system. The index hit extreme fear territory. It measures market sentiment through volatility and momentum metrics. Additional factors include social media activity and survey data. Readings below 25 indicate extreme fear.
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Bitcoin Fear and Greed Index falls to 10 (Extreme Fear)
Altcoin relative profits reached approximately 5% of supply in profit. Glassnode’s Multi Asset Explorer data indicates this represents a historic divergence from Bitcoin profitability. The analytics firm noted the separation between Bitcoin and altcoin holder performance is unprecedented.
Altcoin relative profits are stabilizing in deep capitulation territory, with only ~5% of supply in profit, while Bitcoin’s profits have just begun to decline sharply. This unusual divergence between BTC and alts is unprecedented in prior cycles.
The global cryptocurrency market capitalization reached $3.35 trillion, with a 24-hour trading volume of $204.96 billion, according to CoinGecko market data. Bitcoin dominance held steady at 57.2%. The market posted a 1.3% gain over 24 hours, despite the negative sentiment indicators.
The current fear level approaches the March 2020 COVID crash reading of 8. Historical data shows extreme fear readings below 20 occurred only during major market capitulation events.
Ethereum ETH$3 17524h volatility:0.3%Market cap:$383.42 BVol. 24h:$24.15 B
spot ETFs recorded $728.3 million in net outflows during the same Nov. 10-14 period. The combined Bitcoin and Ethereum ETF withdrawals totaled $1.84 billion for the week. Institutional selling pressure concentrated in these two primary assets.
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As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.