Market Overview
Risk came off across crypto on Tuesday. Bitcoin closed at $73,893, down -2.0% ↓ on the session and -0.6% ↓ on the week, though still holding a +13.7% ↑ gain over 30 days. Ether led the losses in percentage terms, falling -3.6% ↓ to $2,057.86 and breaking the $2,100 handle that had held through most of last week. Solana and XRP joined the move lower, down 4.0% and 3.5% respectively. The synchronous sell across all four majors is consistent with macro-driven derisking rather than a crypto-specific catalyst.
Asset Price Analysis
Bitcoin spent Tuesday capped below $75,000 and lost its footing late in the session, closing near session lows. The 30-day picture remains constructive — BTC is still up double-digits over the month — but the weekly change has now flipped negative for the first time since mid-October. Resistance sits at the $75,000 round number; support comes into view at the $72,000 area that marked the early-November base.
Ether's break of $2,100 is the more technically significant move. ETH closed at $2,057.86, giving back a week of consolidation in a single session, and now trades -3.7% ↓ over seven days. The 30-day return has thinned to +3.7% ↑, well behind bitcoin's +13.7% and solana's +15.6% on the same window — relative weakness that echoes in the flow data from Monday's settled session.
Solana's -4.0% ↓ close to $83.31 looks worse on the day than on the tape: SOL is still +9.2% ↑ on the week and leads the majors over 30 days. XRP at $1.06 gave back 3.5% but remains positive on both the 7-day and 30-day windows.
Prior-Session ETF Flows (Context)
Issuer reports for Tuesday's session have not yet been published. The most recent settled figures, for Monday, November 9, show spot crypto ETFs posting -$391.4M ↓ in net outflows, according to InflowScan data. BlackRock's products drove the entirety of the redemption picture.
Monday's largest outflows, per InflowScan data:
Monday's inflows were thin and concentrated in Morgan Stanley's MSBT at +$22.1M ↑ and ProShares' SOLZ at +$2.6M ↑, according to InflowScan data. The XRP cohort reported 8 of 9 funds, with XRPK still settling. That BlackRock-led redemption provided the softer bid heading into Tuesday's session, and the price action that followed is consistent with issuer-flow weakness extending into cash-market positioning rather than reversing it.
Stablecoin Flows
Stablecoin supply contracted on the day. USDT supply fell by -$570M ↓ to $176.2B, and USDC supply fell by -$351.5M ↓ to $70.2B, according to InflowScan data. A combined contraction of nearly $922M in a single session is historically associated with capital leaving the on-chain dollar perimeter rather than rotating into spot — a pattern consistent with Tuesday's broad-based price weakness.
Outlook
Attention Wednesday turns to whether BlackRock's two-asset redemption picture extended into Tuesday's session when those issuer reports settle overnight. Levels worth watching: the $72,000 support zone on BTC and the reclaimed-or-lost $2,100 line on ETH. A further leg lower in stablecoin supply would reinforce the derisking read; a stabilization would suggest Tuesday's move was a one-session repricing rather than the start of a sustained outflow cycle.