Crypto Markets on Nov 17, 2025: Bitcoin and Ethereum Sink to Multimonth Lows Amid Thinning Liquidity
On November 17, 2025, Bitcoin (BTC) and Ethereum (ETH) experienced significant declines, hitting multimonth lows as market liquidity thinned. BTC briefly traded around $93,400, while ETH hovered near $3,050.
Following a challenging weekend, prices remained bearish with BTC at approximately $95,764 and ETH around $3,209. Analysts noted a potential $62 million Bitcoin liquidation zone could form if BTC drops to $92,840, which may pressure the price further toward a March-era support level of $87,500.
Market sentiment was reflected in derivatives, where open interest in BTC and ETH futures continued to decline. Notably, Zcash (ZEC) and Litecoin (LTC) open interest fell 6% and 10%, respectively, while XRP and Cardano (ADA) open interest increased by about 1%.
Options activity on Deribit showed a bearish tilt, with BTC options showing a preference for puts and front-end volatility exceeding 50% annualized. BTC options strategies were dominated by iron condor and strangle flows, whereas ETH options were mainly bearish, with call calendar spreads accounting for more than half of the flows.
Altcoins also showed subdued performance. Solana (SOL) declined to $135 from $142.47; ETH remained near $3,000; and ZEC surged in a prior rally reaching around $670 to $680 from about $41. Market fear/greed indicators stood at 17/100, signaling extreme fear, while the relative strength index (RSI) was near 43.5, indicating a neutral to near-oversold market stance.
Adding to market dynamics, the Federal Reserve rate-cut odds moved to roughly 50% for a December cut, a development perceived as supportive for risk assets such as BTC and ETH.
