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Crypto prices today saw a measured recovery after yesterday’s sharp correction, with major assets edging higher and sentiment showing signs of stabilization.
Summary
- The market bounced after becoming technically oversold.
- Exchange-traded fund flows are still weak, showing caution from large investors.
- On-chain signals point toward stabilization and possible recovery.
The total crypto market cap rose 2.3% to $3.55 trillion, supported by moderate buying across large-cap coins. Bitcoin climbed 1.6% to $103,815, while Ethereum advanced 2.9% to $3,440. XRP traded at $2.35 after a 4.4% gain, and BNB added 1.1% to reach $957.
The Crypto Fear & Greed Index, which is up 4 points to 27, indicates that panic selling has subsided slightly, moving from extreme fear to fear. Stabilization was also seen in derivatives markets.
Following yesterday’s flush-out, open interest increased 1.2% to $142 billion, but liquidations fell 85% to about $307 million, indicating less leverage pressure. The crypto market average relative strength index now sits near 44, suggesting conditions are neither stretched nor oversold.
ETF outflows remain a drag
Despite the price recovery, ETF demand has not fully returned. U.S. spot Bitcoin ETFs posted their sixth straight day of net outflows on Nov. 5, totaling roughly $137 million, as per SoSoValue data. Ethereum products also saw withdrawals of about $118 million over the same period. In contrast, Solana ETFs extended a week-long streak of inflows, adding about $9.7 million.
The rebound appears to be driven more by technical factors than by new capital inflows. Yesterday’s sell-off pushed several large assets into short-term oversold territory, making valuations more attractive for traders who had been waiting to re-enter. Softer bond yields overnight also helped risk appetite stabilize.
Market entering stabilization phase
Some support is provided by historical trends. November has often been a good month for Bitcoin, and positioning may be influenced by seasonal bias. On-chain analysis suggests that the market may be on the verge of a transitional phase rather than a breakdown.
According to a Nov. 6 report by a CryptoQuant researcher, Bitcoin exchange balances continue to decline even during periods of volatility, pointing to steady self-custody behavior rather than forced exits.
The Bitcoin MVRV ratio, which is near 1.8, indicates that long-term holders are still structurally involved because it is consistent with early-stage accumulation zones seen in previous recovery stages.
English (US) · 