Bitcoin and XRP Drop Into ‘Extreme Fear’ as Market Crash Deepens

The crypto market continues its steep decline, with total market capitalization sliding to $3.19 trillion on November 18 — a 14% drop over the past month. Bitcoin, which set a record high of $126,198 in early October, has since fallen to $89,300 at its lowest point and is now trading near $93,092, marking a 15% monthly loss.

Ethereum is also under pressure, struggling to stay above the psychologically important $4,000 level. At the latest check, ETH was priced around $3,146 after falling 20% this month. XRP, trading at $2.22, has slipped 7% in the same period.

The current downturn is among the harshest in the short history of digital assets. Market sentiment has plunged to levels last seen after President Donald Trump’s “Liberation Day” announcement in April, when his proposed tariffs sent shockwaves through both traditional and crypto markets. Back then, the total crypto market cap collapsed to $2.42 trillion before recovering over the following months.

Although regulatory progress in the U.S. helped fuel a strong rebound through mid-year — pushing Bitcoin to fresh all-time highs — another tariff escalation from Trump on October 10 reignited selling pressure. Since then, the market has been locked in a downward spiral with little sign of relief.

The shift in sentiment is clearly reflected in the Crypto Fear and Greed Index, which measures volatility, momentum, social media trends, dominance, and search activity. The index fell to 15 on November 18 — deep in the “Extreme Fear” zone. The last time traders were this fearful was April 9, just days after Trump’s tariff announcement.

With global markets shaken by geopolitical and economic tensions, crypto assets have followed the broader sell-off. Bitcoin, Ether, and XRP have all entered levels of fear that signal extreme caution among traders. As selling continues, sentiment suggests the market may remain under heavy pressure until uncertainty around U.S.–China trade action and macro policy begins to ease.