Crypto market suffers historic 10-day selloff as ETF outflows and liquidations deepen

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Crypto loses $571B in 10 days

Bitcoin and Ethereum ETFs suffer persistent institutional outflows

Institutional demand for crypto continues to weaken. SoSoValue data show that U.S. spot Bitcoin ETFs lost another $1.07 billion during the November 9–13 week. That marked a second consecutive week of outflows above $1 billion, bringing the two-week total to $2.35 billion.

Ethereum remains under similar pressure. Spot ETH ETFs recorded roughly $398.9 million in net outflows between November 9 and 13, extending their negative streak to seven weeks — just one week short of the historical record. Cumulative withdrawals over that period have reached approximately $2.42 billion.

Crypto market loses $571 billion in historic 10-day sell-off

The crypto market is going through one of the largest 10-day declines in its history. Between November 4 and 14, total digital-asset market capitalization fell by roughly $571 billion, from $2.69 trillion to $2.12 trillion, a decline of 21.2%.

Only four previous 10-day periods produced larger losses: May 2021, October and November 2025, and February 2026. The decline was accompanied by widespread forced deleveraging. CoinGlass data indicate that liquidations totaled roughly $6 billion over seven days, including about $2.02 billion in the latest 24-hour period alone.

Nvidia turmoil and Anthropic IPO deepen crypto market pressure

Weakness in the technology sector is adding to the strain on crypto. BitMine Chairman Tom Lee mentioned several factors that may be contributing to the pressure, such as margin calls from the sell-off of Nvidia, asset sales prior to the IPO of Anthropic, and money coming back to investors due to the Binance hack.

Other factors that could be pressuring crypto assets include the fears around cybersecurity of AI, tightening of chip exports to China by the U.S., and geopolitical issues in the Middle East. Persistent inflation and expectations of further Federal Reserve rate hikes are also making conditions more difficult for risk assets.

Crypto recovery depends on renewed demand and easing macro risks

Heavy liquidations are gradually removing excess leverage from the market, which could create a healthier foundation for Bitcoin and Ethereum over the medium term. ETF flows, however, still point to weak institutional demand, while elevated macroeconomic uncertainty continues to limit investors’ willingness to rebuild exposure to risk assets.

Traders Union previously highlighted a sharp Bitcoin and Ethereum selloff in which 24-hour liquidations exceeded $1.3 billion amid a stronger dollar and expectations of tighter Federal Reserve policy. Since then, the pressure has intensified, leaving the market dependent on more stable institutional flows and an improvement in global financial conditions before a durable recovery can develop.

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