Bitcoin dropped 8% last week, touching $93,000 and is now trading below $96,000 as traders and investors have become even less confident about a cut to interest rates at December’s Federal Open Market Committee meeting.
Altcoins were hit even harder. Ethereum and solana, for example, were down 11% and 14% on the week respectively, according to Simon Peters, cryptoasset market analyst at multi-asset investment platform eToro.
Speaking at the University of Evansville in Indiana last Thursday, Alberto Musalem, president of the Federal Reserve Bank of St Louis stressed the need to “proceed with caution” in relation to further interest rate cuts pointing out that inflation still remains too high.
The probability for a 25 basis point cut at December’s meeting now stands at less than 50% highlighting the market’s continued risk-off sentiment shift. The Crypto Fear and Greed Index has also fallen deeper into ‘extreme fear’ territory.
On a positive note, the longest government shutdown in US history is now over meaning we should start seeing inflation and jobs data in the weeks to come. Will it be enough to swing the pendulum back to a December interest rate cut, we wait to see.
BIGGEST MOVERS
Starknet $STRK was one of the big movers last week, up 50% and bucking the overall trend of the crypto markets. The move higher in the price of $STRK follows recent bullish network upgrades, namely Starknet’s BTCFI programme, which allows bitcoin holders to stake BTC and earn rewards, all without losing custody of the staked assets.
Discover more here: https://www.etoro.com/discover/markets/cryptocurrencies/market-movers
EYE-CATCHING STORIES
Canary Capital launches XRP ETF
Canary Capital was again back in the spotlight last week, this time for the launch of their XRP ETF (XRPC), the first XRP ETF launched under the 1933 Securities Act thus offering pure spot exposure.
XRPC began trading last Thursday generating $58 million in volume, the most of any ETF this year out of nearly 900 ETF launches according to Bloomberg Senior ETF Analyst Eric Balchunas, slightly surpassing BSOL, the spot solana ETF from Bitwise which generated approximately $57 million in volume on its first trading day.
Further to the launch of XRPC, Canary Capital also filed an S-1 registration with the SEC last Wednesday for an ETF tracking the price of MOG, an Ethereum-based memecoin with a market capitalisation of $154 million and currently in 198th place in the total market capitalisation tables.
With generic listing standards now approved for exchange-traded products that hold spot commodities, including digital assets, we could very well see memecoin ETFs a lot sooner than previously thought.
Czech National Bank announces purchase of bitcoin and other cryptoassets
The Czech National Bank announced last week that they have purchased $1 million of digital assets – bitcoin, US dollar stablecoins and tokenised deposits – for the first time in their history as part of a test portfolio.
The purchase was approved by the Bank Board on 30 October 2025 with the purpose of gaining practical experience with holding digital assets and to implement and test the necessary related processes, the press release went on to say.
The CNB emphasised however that the purchase is not yet integrating crypto into its main reserves, and that no expansion of this portfolio is planned at present.
Even so, this move makes the CNB one of the first major European central banks to purchase cryptoassets, even if only experimentally, and signals growing institutional and governmental interest in crypto as a potential reserve asset.
About eToro
eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have over 40 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media centre here for our latest news.
Disclaimer
This communication is for information and education purposes only and should not be taken as investment advice, a personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without taking into account any particular recipient’s investment objectives or financial situation and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past or future performance of a financial instrument, index or packaged investment product are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication.
Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework. Your capital is at risk.
Date: November 17, 2025
Simon Peters, cryptoasset market analyst at multi-asset investment platform eToro, says:
Bitcoin drops to $93,000. Canary Capital launches XRP ETF. Czech National Bank announces purchase of bitcoin and other cryptoassets
Bitcoin dropped 8% last week, touching $93,000 and is now trading below $96,000 as traders and investors have become even less confident about a cut to interest rates at December’s Federal Open Market Committee meeting.
Altcoins were hit even harder. Ethereum and solana, for example, were down 11% and 14% on the week respectively.
Speaking at the University of Evansville in Indiana last Thursday, Alberto Musalem, president of the Federal Reserve Bank of St Louis stressed the need to “proceed with caution” in relation to further interest rate cuts pointing out that inflation still remains too high.
The probability for a 25 basis point cut at December’s meeting now stands at less than 50% highlighting the market’s continued risk-off sentiment shift. The Crypto Fear and Greed Index has also fallen deeper into ‘extreme fear’ territory.
On a positive note, the longest government shutdown in US history is now over meaning we should start seeing inflation and jobs data in the weeks to come. Will it be enough to swing the pendulum back to a December interest rate cut, we wait to see.
BIGGEST MOVERS
Starknet $STRK was one of the big movers last week, up 50% and bucking the overall trend of the crypto markets. The move higher in the price of $STRK follows recent bullish network upgrades, namely Starknet’s BTCFI programme, which allows bitcoin holders to stake BTC and earn rewards, all without losing custody of the staked assets.
Discover more here: https://www.etoro.com/discover/markets/cryptocurrencies/market-movers
EYE-CATCHING STORIES
Canary Capital launches XRP ETF
Canary Capital was again back in the spotlight last week, this time for the launch of their XRP ETF (XRPC), the first XRP ETF launched under the 1933 Securities Act thus offering pure spot exposure.
XRPC began trading last Thursday generating $58 million in volume, the most of any ETF this year out of nearly 900 ETF launches according to Bloomberg Senior ETF Analyst Eric Balchunas, slightly surpassing BSOL, the spot solana ETF from Bitwise which generated approximately $57 million in volume on its first trading day.
Further to the launch of XRPC, Canary Capital also filed an S-1 registration with the SEC last Wednesday for an ETF tracking the price of MOG, an Ethereum-based memecoin with a market capitalisation of $154 million and currently in 198th place in the total market capitalisation tables.
With generic listing standards now approved for exchange-traded products that hold spot commodities, including digital assets, we could very well see memecoin ETFs a lot sooner than previously thought.
Czech National Bank announces purchase of bitcoin and other cryptoassets
The Czech National Bank announced last week that they have purchased $1 million of digital assets – bitcoin, US dollar stablecoins and tokenised deposits – for the first time in their history as part of a test portfolio.
The purchase was approved by the Bank Board on 30 October 2025 with the purpose of gaining practical experience with holding digital assets and to implement and test the necessary related processes, the press release went on to say.
The CNB emphasised however that the purchase is not yet integrating crypto into its main reserves, and that no expansion of this portfolio is planned at present.
Even so, this move makes the CNB one of the first major European central banks to purchase cryptoassets, even if only experimentally, and signals growing institutional and governmental interest in crypto as a potential reserve asset.
About eToro
eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have over 40 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media centre here for our latest news.
Disclaimer
This communication is for information and education purposes only and should not be taken as investment advice, a personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without taking into account any particular recipient’s investment objectives or financial situation and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past or future performance of a financial instrument, index or packaged investment product are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication.
Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework. Your capital is at risk.
