Ten days have been enough to completely change the mood in crypto.
On November 5, the Crypto Fear & Greed Index stood at 50, a neutral reading. By November 15, it had collapsed to 10, deep inside Extreme Fear territory.
Prices tell the same story.
EGRAG Crypto’s latest comparison measures the damage since November 4 at approximately 33.1% for XRP, 30% for Ethereum, 31% for Solana and 23.6% for Bitcoin.
Bitcoin has since traded as low as $62,112, Ethereum touched $1,711, XRP briefly fell to roughly $0.89 and Solana dropped into the low-$70s.
This is no longer an ordinary pullback. November has turned into a broad crypto capitulation event.
What you'll learn 👉
XRP, Ethereum and Solana Are Taking More Damage Than Bitcoin
EGRAG’s comparison shows the familiar pattern that appears during severe crypto selloffs: Bitcoin falls, but altcoins absorb even more damage.
XRP has been the weakest of the four in his measurement, losing roughly one-third of its value since November 4.
Ethereum and Solana are close behind at around 30%.
Bitcoin has performed better on a relative basis, but a decline above 20% in less than two weeks is hardly defensive price action.
The difference comes down partly to risk. Bitcoin remains the deepest and most liquid crypto asset, so capital tends to retreat toward BTC when investors reduce exposure.
#CRYPTO – THE NOVEMBER BLOODBATH! 🩸🔥 Since NOVEMBER 4, 2026, the crypto market has experienced a BRUTAL SELLOFF! Look at the numbers! 👀 🔴 #XRP: -33.07% 🔴 #ETH: -30.02% 🔴 #SOL: -30.99% 🔴 #BTC: -23.61% WHAT DOES THIS TELL US? ▫️#XRP is leading the decline among these four major assets! ( #XRP is leader even in down terms🤣) ▫️#ETH and #SOL have both lost approximately 30%! ▫️#BTC has held up relatively better, but a 23.61% correction is NO JOKE! ▫️Altcoins are experiencing significantly MORE PAIN than Bitcoin! HERE’S MY QUESTION: ▫️Are we witnessing the FINAL CAPITULATION before a major reversal, or is the market preparing for ANOTHER LEG DOWN? 👀 ▫️I need to see signs from price action to start having conviction of the next move but most probable it is 2015 bottoming Structure. ▫️Remember, when fear takes control, EMOTIONS become your WORST ENEMY! SPOT IS KING! 👑 LEVERAGE IS A TOOL! ⚙️ Are YOU buying this dip or waiting for LOWER PRICES? 👇 #EGRAGCRYPTO bitcoin:native
— EGRAG CRYPTO (@egragcrypto) November 15, 2026
Altcoins normally carry greater volatility, which becomes especially painful when leverage is being unwound at the same time.
Fear Is Starting to Look Like 2022 Again
The sentiment data may be the most striking part of this selloff.
The Crypto Fear & Greed Index currently reads 10. For comparison, the index reached 6 during the darkest part of the 2022 bear market.
So it would be inaccurate to say sentiment has never been this low since 2022. The index also briefly reached 5 earlier this year.
But emotionally, the current market is starting to resemble those periods.
Almost no large crypto asset is escaping the selloff, social sentiment has deteriorated rapidly and every short-lived rebound has been met with more selling.
Institutional flows have added to the pressure. U.S. spot Bitcoin ETFs lost $1.91 billion over seven consecutive trading sessions, including $1.07 billion last week alone. Ether ETFs recorded another $398.9 million in weekly withdrawals.
That is real capital leaving crypto exposure at exactly the time leveraged traders are also being forced out.
Read also: Bitcoin and XRP Leverage Is Being Flushed: Is a Bottom Getting Closer?
Is This the Final Crypto Capitulation?
EGRAG believes the market may be developing something similar to a 2015 bottoming structure, although he wants more price confirmation before committing to that view.
I think that caution is justified.
Several ingredients normally associated with capitulation are now present: extreme fear, aggressive altcoin losses, falling leverage, ETF withdrawals and prices reaching levels that looked unrealistic only weeks ago.
But extreme fear does not automatically mean the low is in.
Bitcoin can still test $60,000, and another BTC drop could easily push XRP, ETH and SOL to new local lows.
What makes the current market interesting is the asymmetry beginning to develop.
When the Fear & Greed Index falls from 50 to 10 in ten days and major altcoins lose around 30%, a considerable amount of bad news has already been priced in.
That does not guarantee an immediate recovery.
But if Bitcoin starts holding the $60,000-$65,000 region and altcoins stop making new lows despite sentiment remaining this depressed, the case that November’s bloodbath was a capitulation phase would become much stronger.
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