Bitcoin slipped 12.5% this week, breaking below key psychological levels as risk appetite evaporated across equities and digital assets. Ethereum followed with an equally sharp weekly decline, dropping roughly 13%. The broader sell-off coincided with rising yields, weak tech-sector sentiment, and accelerated liquidations in leveraged crypto positions. The pullback pushed sentiment deeper into caution territory, setting the stage for a consolidation phase after months of elevated speculative positioning.

Crypto Fear & Greed Index hits ‘Extreme Fear’ territory

Sentiment metrics for the crypto market plunged this week, with the Crypto Fear & Greed Index reading dropping to 14 today… a level categorised as “Extreme Fear”. Just yesterday it was 11, and a week ago it stood at 16, reflecting accelerating panic amid the sell-off. Extreme fear readings historically correlate with heightened oversold conditions and potential reversal setups, though they don’t guarantee a rebound. The index reflects a cocktail of market momentum, volatility, social sentiment and trading volume, all pointing now to a climate of caution. For investors, the extreme reading signals that conviction is weak, positioning is light and downside risk remains elevated.

BTC ETF Flows

On Monday 17 November, spot Bitcoin ETF products saw about US$-255 m outflows, led by IBIT (BlackRock) at approximately US$145.6m and FBTC (Fidelity) at US$12.0m. Tuesday 18 November reversed slightly with US$ 372.8m net outflows, of which IBIT accounted for around US$523.2m and BTCW (WisdomTree) saw inflows of US$139.6m. Wednesday 19 November posted a modest US$75.4m net inflow, driven by IBIT (US$60.6m) and GBTC (Grayscale) at US$53.8m. Overall the week’s flows highlight a weak-handed exit from Bitcoin ETFs but a mid-week attempt at stabilization.

ETH ETF Flows

On Monday 17 November, spot Ether ETF listings posted US$-182.7m net outflows, with ETHA (BlackRock) alone losing US$193.0m and FETH (Fidelity) about US$3.0m. Tuesday 18 November brought US$-74.2m net outflows, with ETHW (Bitwise) seeing US$19.1m of inflows and TETH (21Shares) about US$4.6m of inflows. Wednesday 19 November registered US$-37.4m net outflows, as ETHA trimmed US$24.6m and QETH (Invesco) added US$2.9m. The week shows a steady bleed in Ethereum-related products as institutional sentiment remains cautious.

SOL ETF Flows

On Monday 17 November, SOL-based ETF products drew US$8.2m net inflows, with BSOL (Bitwise) adding about US$7.3m. Wednesday 19 November saw the week’s strongest influx of US$55.6m, with BSOL posting US$35.9m and GSOL (Grayscale) US$12.6m. Tuesday 18 November contributed US$30.1m net inflows. Overall the up-trend in SOL-related flows contrasts sharply with the outflows of larger assets and suggests selective institutional rotation.

7 Day Snapshot - Coins Available on Metal Pay

This week’s list reflects the highest-volatility tokens, not gainers, as all tracked assets posted negative returns during the broader market downturn. LOAN Protocol showed the sharpest 7-day move with a –29.7% swing, making it the most volatile asset on the platform. XPR Network followed with a –21.6% change, while Hedera (–17.5%), XRP (–15.3%), and Metal Blockchain (–14.2%) rounded out the list. These tokens represent the largest week-over-week directional moves and highlight where traders experienced the biggest price swings during the correction.

See the full list of available assets on the Metal Pay Markets page.