Digital asset markets experienced significant downward pressure during the second week of November, with total cryptocurrency market capitalization declining by $280 billion to settle at $3.3 trillion. The sell-off marked one of the most substantial weekly losses in recent months, reflecting growing investor caution across digital asset classes.
Bitcoin, the market’s dominant cryptocurrency, faced particular headwinds as it slipped below the $100,000 threshold for the second consecutive week. The leading digital asset reached its lowest valuation in six months, prompting concerns among traders about potential further declines toward the $89,000 support level. Market analysts noted that the extended period below key psychological price points has created uncertainty about near-term price direction.
The broader digital asset ecosystem mirrored Bitcoin’s struggles, with major altcoins and decentralized finance tokens experiencing similar percentage declines. Trading volumes remained elevated throughout the week as market participants adjusted their positions in response to the changing market dynamics. Technical analysts are closely monitoring whether current support levels will hold or if additional downward pressure will emerge in the coming trading sessions.
Market observers attribute the correction to a combination of profit-taking after previous gains and shifting macroeconomic expectations. The substantial market movement highlights the continued volatility inherent in digital asset markets, even as institutional participation continues to grow.
