Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I’m getting there.
The global crypto market has entered one of its sharpest correction phases in recent history, with assets like Bitcoin, Ethereum, and XRP continuing to fall. Over the last 41 days, the market has lost more than $1.1 trillion in value, averaging nearly $27 billion erased per day.
As of today, Bitcoin has fallen to around $91,238, down more than 13% this week, while Ethereum slipped to $3,012 and XRP dropped to $2.13, losing over 15% in seven days. Several popular altcoins also remain in deep red territory. Analysts say this downturn is not driven by weak fundamentals, but by a combination of structural, psychological, and mechanical factors.
The Crash Timeline and Why It Feels Different
According to research shared by The Kobesi Letter, the decline started soon after crypto’s market cap approached $4.3 trillion. A series of major political and macro headlines added uncertainty, beginning with 100% tariff announcements on China, followed by mixed messages about U.S. crypto leadership. Despite positive comments supporting crypto innovation, Bitcoin, Ethereum, and most altcoins continued falling.
Today, the entire market is now 10% below the levels seen during the record $19 billion liquidation event on October 10, indicating that the downturn has continued far beyond a single flash crash.
The current decline is not caused by bad news or failing fundamentals. In fact, several developments remained positive, including support statements from U.S. leadership and continued long-term confidence from institutions.
Instead, the downturn appears tied to mechanical market structure, starting with institutional outflows in late October. In the first week of November alone, crypto funds recorded $1.2 billion in withdrawals, setting off a chain reaction.
Short-term technical readings show the market is becoming oversold, which increases the chances of a temporary relief bounce. But if selling pressure continues and macro conditions weaken, experts say a drop toward $50,000 cannot be ruled out, especially if long-term holders continue selling.
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