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Crypto market falls as bitcoin price drops to $64,000

Bitcoin, Ethereum, and XRP prices fall

CryptoBorne · Markets Desk · Edited by R. J. Calder · Published · Updated · 3 min read
crypto market downturn
Crypto market sees sharp decline Image: CryptoBorne / AI-generated illustration
Key takeaways
  • Bitcoin price falls to $64,000 2
  • XRP price crashes below $1 3
  • Ether price drops 5.7% 4
In this article
  1. Crypto market overview
  2. Bitcoin and ethereum prices
  3. XRP price crash
  4. What it means for readers
  5. What isn't known yet
  6. FAQ

Crypto market overview

As the crypto market falls, crypto prices have fallen sharply 1. Bitcoin's price is down 13.6% 4. This downturn affects the entire market 5. The total crypto market value is $2.29 trillion 5.

Eric Balchunas comments on the market's volatility 2. He notes that sell-offs like the recent drop in Nvidia are likely driven by algorithms and headlines 2. Bitcoin's price was $68,000, down nearly 3% in 24 hours 2. The market's sentiment is extremely bearish 2.

Gareth Soloway, chief market strategist at Verified Investing, warned of a break below $75,500 4. Bitcoin first stalled near $67,500 4. The price has since broken through the whole zone and now trades about $1,500 below its lower end 4. BNB's price fell below $600 5.

Crypto prices fall sharply

Bitcoin and ethereum prices

Bitcoin's price has fallen to $65,420.59 4, a 4.8% decrease 4. Gareth Soloway, chief market strategist at Verified Investing, comments on the market 4. He notes that a break below $75,500 would open a path to $66,000 4. This drop affects US crypto investors 1.

Soloway started buying small amounts of Bitcoin near $67,000 4. He also bought some Solana 4. Bitcoin's price is now below the target zone 4. The market is getting closer to testing the lower low 4, which may impact Bitcoin ETFs 2.

Meanwhile, the crypto market's downturn has significant implications 1. According to Bloomberg's Eric Balchunas, it has implications. Still, the market sell-off is possibly short-lived 2. Even so, XRP's price has lost approximately 18% 3. This loss is due to institutional withdrawals and tightening market liquidity 3.

XRP price crash

Following a decline, the cryptocurrency trades at $0.95 on November 15 3. Previously, it crashed below $1 3. Consequently, this decline is approximately 7% over 24 hours 3. Notably, CoinGlass market data shows $27 million in XRP derivatives positions were liquidated 3.

XRP's price drop is driven by several factors 3. The company notes that crypto liquidity is shrinking 3. Coinbase Institutional reports that the combined supply of USDT, USDC, and DAI contracted by $11.5 billion 3. This reduction in liquidity adds pressure to altcoins like XRP 3.

Falling prices trigger liquidations 3. An earlier wave of 883 XRP-backed loan liquidations on Morpho resulted in 4.18 million cbXRP being seized 3. Long positions accounted for about 97% of liquidations 3. Buyers are defending the $0.94-$0.95 region 3.

What it means for readers

US investors and builders face concerns due to cryptocurrency downturn 1. Volatility is a key issue 2. Bitcoin's price was $68,000, down nearly 3% in 24 hours 2. This affects their investments and decisions.

Eric Balchunas comments on volatility. He says it's sentiment-driven 2. XRP lost approximately 18% over the past week 3. Crypto liquidity is shrinking. There is a $11.5 billion contraction in USDT, USDC, and DAI supply 3. This impacts the overall market value. The market value is $2.29 trillion 5.

Generally, policymakers note the importance of diversification during crypto downturn 1. Approximately $27 million in these positions were affected 3. Buyers defend the $0.94-$0.95 region 3. Bitcoin ETFs have year-to-date outflows totaling about $1.4 billion, according to Eric Balchunas 2.

What isn't known yet

The extent of crypto downturn is unknown 1. Eric Balchunas says the sell-off is possibly short-lived 2. XRP lost approximately 18% 3. The crypto market value is $2.29 trillion 5.

Markets saw BNB drop below $600 for the first time since August 5. A significant loss occurred, with around $27 million impacted 3. Broader financial markets feel the effects, though the extent is unclear 5. Eric Balchunas' report causes concern among investors 2.

Recovery timing remains uncertain 2. The situation has significant implications 1. CoinGlass market data shows that over 24 hours, they lost value 3. U.S. spot ETFs recorded approximately $19.1 million in net withdrawals 3.

Frequently asked questions

What is the current Bitcoin price?

Bitcoin traded at $64,125.00, a 24-hour change of -6.0% 7.

What is the current Ethereum price?

Ether traded at $1,768.76, a 24-hour change of -8.2% 7.

What is the current XRP price?

XRP traded at $0.95 on November 15 3.

About this article

Our system reads Bitcoin, Ethereum, crypto markets, regulation and DeFi coverage from established publishers every hour. A story is only written when at least three independent outlets report it. Every figure must appear in a cited source, and each draft passes automated checks for accuracy, originality and readability. Drafts that score highly on every check publish automatically; the rest wait for a human editor. Drafted with AI assistance from the sources listed. Not financial or professional advice.

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About the editor

CryptoBorne is edited by R. J. Calder, the pen name of the independent editor who runs it. Each story cites at least three independent publishers. More about the editor. Spotted an error? Email corrections@cryptoborne.com.

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