Crypto Markets in Turmoil: A Day-Ahead Outlook for November 14, 2025

By Francisco Rodrigues (All times ET unless otherwise stated) In a historic move, the Czech National Bank has become the first central bank to invest in bitcoin, with a spot XRP exchange-traded fund (ETF) also launching in the US to impressive trading volumes. However, these developments have been overshadowed by bitcoin's decline below $100,000 and the subsequent crypto market downturn. The CoinDesk 20 index has plummeted 8.35% over the past 24 hours, mirroring a broader market decline that saw the Dow Jones Industrial Average drop 1.65% and the tech-heavy Nasdaq lose 2.29% on Thursday. Spot bitcoin ETFs have experienced significant outflows, with investors withdrawing $869 million on Thursday - the second-largest daily exit on record. Over the past three weeks, spot bitcoin ETFs have lost a staggering $2.64 billion. According to crypto market maker Wintermute, "there is steady interest in long-dated BTC volatility around 80-120k, paired with selective short-term call selling, indicating a neutral-to-cautious market positioning with no appetite to chase big downside." In the ether options market, Wintermute notes "consistent downside hedging into year-end and active call selling across the curve, especially 3.5-4.0k," as traders position for a potential downturn. The sell-off has triggered a wave of liquidations, resulting in over $1.11 billion in losses over the past 24 hours, as reported by CoinGlass. This comes amid dwindling expectations of a US interest-rate cut in December and growing concerns about an AI bubble. The CME's FedWatch tool indicates that the odds of a rate cut this month are now almost even, while traders on Polymarket still favor a 25 bps cut, albeit with reduced confidence, assigning a 52% probability - down from 90% in late October. Adding to the uncertainty, the White House has announced that key economic indicators, including October inflation, may not be released due to delays caused by the recent government shutdown. Wintermute observes that "now that the AI excitement is cooling and more questions are being raised about spending, concerns about the K-shaped economy in the US are resurfacing." Despite the crypto sector's progress, with spot ETFs from major issuers being traded and a central bank investing in BTC, macro headwinds continue to weigh on prices. Remain vigilant! For in-depth analysis of today's activity in altcoins and derivatives, see Crypto Markets Today. Key Events to Watch: For a comprehensive list of events this week, refer to CoinDesk's Crypto Week Ahead. Token Events: For a comprehensive list of events this week, refer to CoinDesk's Crypto Week Ahead. Conferences: For a comprehensive list of events this week, refer to CoinDesk's Crypto Week Ahead. Market Movements: Bitcoin Stats: Technical Analysis: Crypto Equities: Crypto Treasury Companies: ETF Flows: Spot BTC ETFs: Spot ETH ETFs: Source: Farside Investors While You Were Sleeping