Ethereum has declined beneath the $3,000 level, currently trading near $2,966 and recording approximately 17% in weekly losses. Technical indicators including RSI at 30 suggest oversold conditions, while the MACD remains bearish with widening negative momentum. Market analysts are divided on whether this represents a deeper correction or a potential setup for recovery.

Digital asset markets lost $1.1 trillion between October 6 and November 17, with Bitcoin declining 25% from above $126,000 to around $93,000, data show. Analyst Shanaka Anslem Perera described the event as a structural reset driven by over-leveraged positions rather than a typical cycle correction. The contraction represents one of the sector's most severe drawdowns on record.

A wallet tagged as BlackRock's ETHA Ethereum fund transferred over $176 million in Ether to Coinbase Prime through five 10,000 ETH transactions, according to on-chain data. Separately, a wallet associated with BitMEX co-founder Arthur Hayes sent tokens including LDO, ENA, UNI, and AAVE to market maker Wintermute and multiple exchange addresses. ETH market dominance has stabilized near 12% after recovering from the 7–8% support zone.

Bitcoin dropped below $92,000 and Ethereum fell under $3,000, marking multi-month lows for both assets. The decline triggered approximately $800 million in liquidations across more than 150,000 positions. Excessive leverage drove the market downturn, according to CoinGlass data.

Bitcoin dropped to the $92,500 range after breaking below the $93,000 support level that had held for several months. Technical indicators including the weekly SuperTrend, RSI, and MACD have all turned bearish, signaling potential further downside. Institutional selling has intensified, with BlackRock reportedly offloading BTC through its ETF, adding to downward pressure on the market.

Ethereum fell below $3,050 over the weekend before recovering to $3,190 on Monday. Analysts identify $3,650 as a critical breakout threshold, with warnings that failure to hold current support could drive ETH toward $2,800. Despite near-term weakness, industry observers compare Ethereum's current trajectory to Bitcoin's historical supercycle pattern.

Grayscale's Dogecoin exchange-traded fund could start trading within approximately one week, according to Bloomberg ETF analyst Eric Balchunas. The product would become the second U.S. Dogecoin investment vehicle, following REX-Osprey's DOJE which launched on September 18, 2025, using a derivatives-based structure.

SOL Strategies announced its Orangefin validator will provide staking services for VanEck's Solana ETF, according to a press release. The company operates ISO 27001 and SOC 2 certified validators managing over CAD$610 million in assets. Solana trades near $134 after declining more than 18% over the past week, with analysts watching the $100 support level.