On the night of November 13, 2026, the cryptocurrency market faced a correction. The price of Bitcoin momentarily reached $67,568, Ethereum — $1,895, according to TradingView.
Note that both assets then partially recovered, but a downward trend is still observed in the positions.
Daily ETH/USDT chart on the Binance exchange.
Daily BTC/USDT chart on the Binance exchange.
The correction affected almost the entire market. However, for most positions, the depth of the decline on the daily chart is less than for the two largest assets.
Top 10 crypto assets by market capitalization.
As a result, the daily volume of liquidations on futures positions exceeded $1.6 billion. Most of the losses fall on longs.
Daily liquidation volume for crypto asset futures contracts.
The fear and greed index plunged into the red zone. Over the past week, the indicator dropped by 11 points. It indicates that extreme fear prevails in the market.
Fear and greed index in the crypto asset market.
Possible reasons for the correction
The current state of the market is likely the result of a confluence of several factors. One of them is the collapse of NVIDIA's shares, caused by the departure of CEO Jensen Huang. This became the trigger for a sell-off across the entire technology sector.
Another factor is the strengthening of expectations for a Federal Reserve rate hike. The October Consumer Price Index (CPI) rose 0.4% for the month against a forecast of about 0.23%. Higher inflation reinforced expectations of tighter monetary policy, as indicated by the CME forecast.
In addition, this week information appeared about the exclusion of the companies Strategy and Metaplanet from the MSCI indices, which could increase pressure on the market.