New Delhi, 15 November (H.S.): Most of the leading digital assets among the world's top 15 cryptocurrencies remained under considerable selling pressure throughout the week, trading in negative territory amid widespread market weakness. Persistent capital outflows from US spot Bitcoin exchange-traded funds (ETFs), coupled with concerns over the possibility of a tighter monetary policy by the US Federal Reserve, dampened investor sentiment. Against this backdrop of growing pessimism, Bitcoin, the world's largest cryptocurrency, recorded a steep weekly decline of nearly 18%.
The cryptocurrency market suffered a significant setback in terms of overall market capitalisation during the week. At the beginning of the week, the global crypto market capitalisation stood at approximately USD 2.55 trillion. By 6:30 PM Indian Standard Time on Sunday, it had contracted to around USD 2.14 trillion. This represents a decline of more than USD 400 billion in the total market value of the cryptocurrency sector in just seven days.
The week proved particularly disappointing for Bitcoin, the world's largest cryptocurrency by market capitalisation. Bitcoin registered a sharp weekly decline of 17.94%. Trading at approximately USD 75,794 on Monday, it continued to lose ground and fell to a low of USD 62,199 on Sunday morning. Its price thus declined by around USD 13,595 over the week, taking it to its lowest level since July 2026.
The second-largest cryptocurrency, Ethereum, also came under intense selling pressure during the week. From around USD 2,234 at the beginning of the week, its price fell to approximately USD 1,718 by Sunday evening. This represented a weekly loss of around USD 516 per coin, or more than 23%.
An assessment of other major altcoins among the top 15 cryptocurrencies also revealed widespread weakness. Solana recorded the steepest decline on a weekly basis, falling from USD 90.26 to USD 67.79. This represented a loss of approximately 24.89%, or USD 22.47 per coin.
Similarly, XRP declined by 23.72%, slipping from USD 1.18 to USD 0.90.
Among other prominent altcoins, BNB fell from USD 695.53 to approximately USD 616.77, registering a decline of around 11.32%. Cardano also witnessed substantial losses, dropping nearly 22% from its weekly level of USD 0.2062 to below USD 0.16.
Hyperliquid declined from USD 72.76 to USD 66.28, while Tron slipped from USD 0.3184 to around USD 0.30.
Amid the widespread sell-off, only stablecoins managed to maintain their value relatively steadily. Tether and USD Coin remained within their usual range of approximately USD 0.9990 to USD 0.9998.
Market experts attribute the prevailing uncertainty and heightened risk aversion largely to the US Federal Reserve's monetary policy outlook and sustained withdrawals from cryptocurrency ETFs. Against this backdrop, the USD 60,000 mark is being viewed as a crucial near-term support level for Bitcoin.
---------------
Hindusthan Samachar / Jun Sarkar
