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Crypto Market Holds $3.35T Despite $1.84B Weekly ETF Outflows
The cryptocurrency market maintained a $3.35 trillion capitalization on November 15, despite high fear levels and significant institutional outflows.
- The Fear and Greed Index dropped to 10, its lowest in years, indicating extreme fear.
- US Bitcoin spot ETFs experienced net outflows of $1.112 billion from November 10-14, peaking at $866.7 million on November 13.
- Altcoin profits diverged from Bitcoin, with only ~5% of altcoin supply in profit compared to Bitcoin's declining profitability.
- Privacy-focused cryptocurrencies like Zcash [ZEC], Litecoin [LTC], and Monero [XMR] posted gains of 15.9%, 13.7%, and 11.5% respectively.
Institutional activity showed mixed results:
- Ethereum [ETH] spot ETFs saw $728.3 million in net outflows during the same period.
- Solana [SOL] spot ETFs recorded $46.4 million in net inflows, showing resilience.
Despite negative sentiment indicators, the market posted a 1.3% gain over 24 hours. Bitcoin dominance remained steady at 57.2%.