- Bitcoin was quoted at $67,399, down 17.3% over roughly four weeks and 11.3% over roughly seven days.
- Ether fell 21.4% over roughly four weeks and 15.3% over roughly seven days, underperforming bitcoin.
- Crypto selling broadened across the market as 42 of 44 non-stablecoin tokens in a curated watchlist declined over 24 hours.
Bitcoin and Ether Extend Recent Losses
Bitcoin was quoted at $67,399 by 9:41:55 p.m. ET, according to CoinGecko. The cryptocurrency’s loss over roughly four weeks stood at 17.3%, while ether declined 21.4% over the same period, according to The Defiant’s calculations. Over roughly seven days, bitcoin fell 11.3% and ether dropped 15.3%.
Ether’s four-week decline was therefore deeper than bitcoin’s, extending a period of weakness across the two largest cryptocurrencies by market profile. The figures show that both assets faced substantial selling pressure across the shorter and longer time frames cited in the report.
Selling Reaches Beyond Bitcoin and Ether
In a refreshed CoinGecko snapshot at 9:42:53 p.m. ET, 42 of 44 non-stablecoin tokens in a curated watchlist were lower over the previous 24 hours. The selection includes large cryptocurrencies and decentralized finance tokens, but it is not a count of the entire crypto market.
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Solana fell 5.8%, BNB lost 3.5% and XRP declined 2.4%. Celestia posted the largest loss among the tokens in the selection, dropping 14.1%. GMX and Pendle were the only gainers, rising about 2% and 1.7%, respectively.
Glassnode Reports Weaker Crypto Funding Signals
The decline followed signs of weaker funding into crypto markets. In a Nov. 11 report, analytics provider Glassnode said stablecoin supply had contracted by $14.2 billion over 30 days through Nov. 9, leaving “less fuel for a rally.” Glassnode also reported $1.6 billion in net outflows from U.S. spot bitcoin exchange-traded funds over 20 sessions through that date.
Those figures predate Friday evening’s move and do not establish its cause. Glassnode also identified buying by wallets holding 100 to 10,000 $BTC, although other wallet groups were still reducing their holdings.
Why This Matters
The reported declines indicate that weakness was not limited to bitcoin and ether, with most of the selected non-stablecoin tokens also moving lower over 24 hours. Glassnode’s data points to contracting stablecoin supply and U.S. spot bitcoin ETF outflows as signs of reduced crypto-market funding before Friday evening’s move, while buying by some large bitcoin-holding wallets suggests that investor behavior was not uniform.
Frequently Asked Questions
How much did bitcoin decline?
Bitcoin was down 17.3% over roughly four weeks and 11.3% over roughly seven days. CoinGecko quoted it at $67,399 by 9:41:55 p.m. ET.
Did ether perform better than bitcoin?
No. Ether fell 21.4% over roughly four weeks and 15.3% over roughly seven days, compared with bitcoin’s declines of 17.3% and 11.3%, respectively.
Was the entire crypto market lower?
The cited CoinGecko snapshot showed 42 of 44 non-stablecoin tokens in a curated watchlist declining over 24 hours. The watchlist includes large cryptocurrencies and DeFi tokens, but it does not represent the entire crypto market.
