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Crypto Crash Wipes Out Weeks of Gains as Bitcoin, Ethereum Plummet
18 Nov
Summary
- Bitcoin plunges to $91,545, a 6-month low
- Ethereum slips below $3,000
- Widespread market weakness across crypto and traditional markets
The crypto market faced a major setback on November 17, 2025, as Bitcoin and Ethereum prices plummeted. Bitcoin dropped to a 6-month low of $91,545, while Ethereum slipped below the $3,000 mark, highlighting the widespread weakness across the crypto landscape.
This crypto downturn mirrored the performance of traditional markets, which endured their worst session in a month. The S&P 500 dropped 61.70 points to 6,672.41, and the Nasdaq fell 192.51 points to 22,708.07, both closing below their 50-day moving averages.
The losses extended beyond just the top cryptocurrencies. Major altcoins such as Solana, XRP, and Cardano also saw sharp weekly declines, with Solana tumbling 22.51%, XRP sliding 16.73%, and Cardano falling 22.12%.
The market plunge erased weeks of gains for investors, with Bitcoin's 3.21% daily loss on November 17 bringing its value down by 27% from its October all-time high. Technical analysts viewed the breaks in the traditional markets as short-term bearish, focusing on the 200-day average as support.
