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The end of the U.S. shutdown did not help the crypto market: what to expect next
The forty-three-day shutdown of U.S. government agencies has come to an end; funding for government operations has been found. A positive piece of news for the world’s largest crypto market did not spark enthusiasm among crypto investors. Risk appetite has not returned, and cryptocurrencies are falling. Will this last long?
Bitcoin
From November 7 to November 14, 2025, Bitcoin lost more than 6.5% of its value. On Friday, November 14, the world's largest cryptocurrency by market cap dropped below $95,000. This hadn’t happened for more than half a year.
Source: tradingview.com
The end of the U.S. shutdown did not bring joy to crypto investors. The point is that the conclusion of the shutdown means the release of statistical data that the U.S. Federal Reserve relies on. In November, the data will appear with significant delay, which may push the Fed not to cut the key rate. If this scenario is implemented, loans will not become cheaper, and therefore traders will not regain their risk appetite.
The shutdown in the U.S. negatively affected long-term investors. According to the analytical platform CryptoQuant, over the past 30 days these market participants sold 815,000 BTC. At one point, Bitcoin’s supply significantly exceeded demand, so the decline is quite understandable.
Spot Bitcoin ETFs have been showing capital outflows for the third week in a row. The volume of outflows reached $622.7 million. The positive point is that this is the smallest amount of money withdrawn from spot exchange-traded funds by investors in three weeks.
Source: sosovalue.com
From a technical analysis perspective, the Bitcoin trend is downward. The price continues to remain below the 50-day moving average (shown in blue). The trend remains quite weak, as the ADX indicator value is 29.3; a clear rise in the indicator in recent days signals growing bearish tendencies. The nearest support and resistance levels on the daily chart are $95,152 and $107,270 respectively.
Source: tradingview.com
The fear and greed index fell eight points compared to last week. The current value is 16, which still indicates the presence of extreme fear among crypto investors.
Ethereum
Ethereum fell by 6.5% from November 7 to 14. Nearly the entire week for ETH was marked by declines: six of seven trading sessions ended in the red. Nevertheless, the previous week's low of $3057.8 was not updated during trading.
Source: tradingview.com
The effect of the U.S. shutdown played a role in Ethereum’s decline. However, there were other reasons. One of them was a decrease in activity on the Ethereum network. According to analysts at Nansen, ETH saw declines in key metrics such as active addresses and transaction count — by 3.1% and 23% respectively. At the same time, competitors showed stronger results. The leader, Tron, gained more than 35% in both categories, and Solana more than 9%. BNB Chain recorded a drop in active addresses similar to Ethereum, but the number of transactions in that network increased by 22%.
Source: app.nansen.ai
Spot ETFs on Ethereum also show negative dynamics. Over the last twelve trading sessions, only twice did they avoid outflows. Meanwhile, inflows were recorded only once. On one more day, net flows into ETH spot ETFs were zero. Clearly, investors have lost confidence in the second-largest cryptocurrency. Additionally, some capital may have flowed into newly launched Solana and XRP ETFs.
Source: sosovalue.com
Adding negativity for Ethereum is the decentralized finance (DeFi) market. The TVL metric — the amount of locked assets in network protocols — stands at about $73.5 billion in mid-November. Although ETH’s leadership in this metric is undeniable (its lead over Solana in second place is nearly $64 billion), a sharp regression has been noticeable recently. In early October, Ethereum’s TVL exceeded $97 billion. In other words, in just a month and a half, the metric has fallen by a quarter. This clearly indicates that users are increasingly favoring competitors, having lost confidence in ETH.
Source: defillama.com
From a technical analysis standpoint, the Ethereum trend is downward. This is confirmed by the price being below the 50-day moving average (shown in blue). The RSI indicator also gives bearish signals: it is below 50 and declining. The oscillator has not yet reached the oversold zone, meaning there are no signs of a reversal. Support and resistance levels on the daily chart have remained unchanged since last week: $2880.3 and $3355.9, respectively.
Source: tradingview.com
Ripple
The cryptocurrency Ripple fell in price by 0.4% over seven days, from November 7 to 14. Two days in the middle of the week lifted investors' spirits: XRP gained more than 10%. However, the following four consecutive bearish sessions erased all gains.
Source: tradingview.com
The main news for Ripple is the launch of the first U.S.-based spot ETF on XRP. The product from the investment firm Canary Capital received the green light. On the stock market, it was assigned the ticker XRPC. On its first trading day, November 13, the fund recorded a trading volume of $58 million. This is the best result among all ETFs launched in 2025. Even more impressive was the capital inflow into the fund, totaling $245 million.
The analytical platform Santiment presented data showing that the ratio of bullish to bearish comments regarding XRP posted on social networks from November 6 to 12 indicates that investors prefer to remain cautious about Ripple's cryptocurrency. Such periods often coincide with short-term traders closing positions and long-term investors accumulating.
From a technical analysis viewpoint, sellers clearly dominate XRP rather than buyers. The presence of a downward trend is confirmed by the price being below both the 50-day (blue) and 200-day (orange) moving averages. Furthermore, the lines have formed a strong bearish signal — the death cross. It occurred on November 8, when the fast 50-day moving average crossed the slow 200-day moving average from top to bottom. Support and resistance levels on the daily chart: $2.07 and $2.58 respectively.
Source: tradingview.com
Conclusion
In mid-November, the largest cryptocurrencies entered a correction. The end of the U.S. shutdown did not bring positivity to crypto investors; sell-offs and profit-taking continue. This results not only in the decline of digital asset prices but also in the outflow of funds from Bitcoin and Ethereum spot ETFs.
This material and the information herein do not constitute individual or any other investment advice. The opinion of the editorial board may differ from the views of analytical platforms and experts.
See also: "Went Against the Market. Top 5 Best-Performing Cryptocurrencies of the Week"
