Crypto Market Slides: BTC, ETH Dip; Open Interest at $87.7B

Published: 2025-11-12 11:34:41 |

The crypto market edged lower on Nov. 12 as Bitcoin (BTC) and Ethereum (ETH) prices dipped amid sustained trading activity. BTC fell 0.05% to $104.87K, while ETH declined 0.31% to $3,546.50. Overall market cap stood at $3.52 trillion, down 0.55%, with 24-hour spot volume at $186.78 billion (−0.12%) and derivatives volume at $196.23 billion. Global open interest reached $87.69 billion, reflecting steady trader engagement. Ethereum gas fees remained low, averaging 0.346 Gwei. Among top altcoins, ATOM gained 1.67% to $3.07 and FTT inched up 0.02% to $0.77, while SOL (−2.08%), AVAX (−0.84%) and BNB (−0.69%) led losses. A total of 18,833 cryptocurrencies traded across 54 exchanges.

Neutral

The minor price declines in BTC and ETH, coupled with stable open interest and high trading volumes, suggest limited directional momentum. Market cap and spot volumes are slightly down, but derivatives activity remains robust. Ethereum gas fees are low, indicating efficient network usage. Past similar minor pullbacks have not triggered extended sell-offs, and key support levels in Bitcoin dominance hold firm. Given the balanced metrics and absence of major catalysts, the outlook is neutral for both short-term trading and long-term trend stability.