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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
11/17/2025

Crypto today: Bitcoin wipes out all 2025 gains, ETPs shed $2B, Zcash surges then cools

Today, the crypto market continued to swing sharply, with conflicting moves across investment products, Bitcoin's price, and the ongoing Zcash debate. Caution remains the dominant mood as global investors reassess risk following a prolonged stretch of instability. Crypto ETPs record $2B in outflows According to a CoinShares report, digital asset investment products (Crypto ETPs) saw $2 billion in outflows last week — the highest since February 2025. This marks the third consecutive week of net redemptions, bringing total outflows to $3.2 billion.

Crypto today: Bitcoin wipes out all 2025 gains, ETPs shed $2B, Zcash surges then cools

Today, the crypto market continued to swing sharply, with conflicting moves across investment products, Bitcoin's price, and the ongoing Zcash debate. Caution remains the dominant mood as global investors reassess risk following a prolonged stretch of instability.

Crypto ETPs Record $2B in Outflows

According to a CoinShares report, digital asset investment products (Crypto ETPs) saw $2 billion in outflows last week — the highest since February 2025. This marks the third consecutive week of net redemptions, bringing total outflows to $3.2 billion.

The bulk of the selling pressure came from the United States, which accounted for 97% of outflows at $1.97 billion. Meanwhile, Germany stood out as a rare bright spot, attracting $13.2 million in inflows.

CoinShares attributed the wave of redemptions primarily to uncertainty around U.S. monetary policy, compounded by large-scale selling by crypto whales, pushing investors into a more defensive stance.

Total assets under management (AUM) across ETPs fell to $191 billion, down 27% from the peak of $264 billion in October 2024.

Bitcoin Wipes Out All 2025 Gains Before Modest Recovery

Bitcoin (BTC) briefly dropped to $93,000 today — its lowest point of 2025 — erasing all year-to-date gains. That level represents a 25% decline from the all-time high reached in October.

Analysts cited several factors driving BTC's sharp swings:

  • The trade war launched by President Donald Trump
  • A 43-day U.S. government shutdown, which squeezed liquidity
  • Risk-off sentiment as the global economy faces mounting macro headwinds

That said, after U.S. markets reopened Thursday, Bitcoin recovered to around $94,000. The overall trend, however, is still viewed as vulnerable to economic and political shocks.

Zcash Clears $700 Then Pulls Back — the ZEC vs. BTC Debate Heats Up Again

Zcash (ZEC) caught the market off guard by breaking above $700 during the weekend session, before pulling back to the $640 range. A rally of over 1,000% in two months has sent shockwaves through the crypto community.

Notably, the debate between two camps has reignited:

  • ZEC supporters — who see it as a symbol of privacy and censorship resistance
  • Bitcoin Maximalists — who argue ZEC cannot compete with BTC on security or network strength

and it's more heated than ever.

Bitwise CEO Hunter Horsley posted his take on X:
"The 'Bitcoin only, everything else is a scam' crowd is going to have a hard time explaining Zcash by their own logic."
The comment immediately drew heavy pushback from the Bitcoin-only camp.

Meanwhile, Zcash supporters — such as Helius CEO Mert Mumtaz — argued that the resistance from Bitcoin Maximalists is rooted in "conspiracy theories and misunderstandings" about the ZEC protocol.

Zcash's improbable run has put blockchain privacy — a topic that had faded into the background after a wave of regulatory crackdowns — back in the spotlight.

Bottom Line: The Market Is Entering a Sensitive Phase

With billions leaving global ETPs, Bitcoin swinging wildly, and Zcash becoming the centerpiece of a heated debate, the crypto market is in an extremely delicate moment.

Investors are advised to keep a close eye on policy developments — especially out of the U.S. — as macro and regulatory signals remain the primary driver of capital flows and near-term price direction.