Top reasons behind the crypto market crash today (Nov. 21)

The crypto market crash continued its strong downtrend on Friday, with Bitcoin tumbling to $85,000. Ethereum plunged by 7">Copy link

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ETF outflows continued this week

The ongoing crypto market crash is also happening as investors remained concerned about the ongoing ETF outflows as some American investors started to capitulate. Data compiled by SoSoValue shows that Bitcoin ETFs shed over $550 million in outflows this week. Spot Ethereum ETFs have shed over $294 million in assets.

On the positive side, some recently launched ETFs continued to see inflows. All spot XRP ETFs have now had $410 million in inflows, while Solana ETFs have had nearly $500 million in inflows.

Will the crypto market rebound?

The ongoing crypto market crash has led to a panic among investors who have seen their investments turn negative.

Still, history shows that these crashes are often followed by rebounds. A good example of this is when Bitcoin dropped by double digits in April and then rebounded.

In an X post, Tom Lee, believes that Bitcoin will eventually rebound once the ongoing panic ends. Michael Saylor has also continued to accumulate, while Peter Brandt, the popular technical analyst, predicted that the coin will likely hit $200,000 in the near term.

The post Top reasons behind the crypto market crash today (Nov. 21) appeared first on Invezz

Top reasons behind the crypto market crash today (Nov. 21)

ETF outflows continued this week

Will the crypto market rebound?

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