Bitcoin Faces Pressure on Binance; ETF Launch Fails to Boost Altcoins

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Bitcoin has experienced considerable downward pressure recently, with intensified selling activity observed in Binance’s futures contracts, potentially hinting at a short-term price rebound according to CryptoQuant analyst Darkfost. Meanwhile, the altcoin market has not benefited from the introduction of spot ETFs. Data from CryptoAppsy showed that as of November 13, Bitcoin had dropped by 6.71% within a day, trading at $68,640.

Binance Trading Ratio Hits Low Point in Over a Year

Bitcoin’s recent downward adjustment marked a 17.5% decline from a recent high of $87,400. Darkfost noted that such corrections are common in bullish cycles, but there is a marked increase in pessimism among futures investors. He explained that the ratio of immediate buy and sell orders on Binance has sunk to 0.85, the lowest in over a year, indicating that for every 100 units sold, only 85 units were bought. This monthly average ratio of 0.97 is the first since Bitcoin dipped below $60,000 last February.

“The measure of pessimism seen in futures markets often occurs in the final stages of a downturn, and when a selling panic is largely reflected in prices, this indicator might suggest a potential short-term rebound,” Darkfost stated.

Ethereum and Solana ETFs Below Initial Levels

Ethereum rose 5.93% on November 13, reaching $1,931, although this remains about 42% below its $3,340 level when U.S. spot Ethereum ETFs were launched on July 23, 2024. Similarly, Solana has suffered more than a 60% decline since its ETF launch price of $199 on October 28, 2025, now trading at $79.

Comparing initial ETF prices, Hedera stands at a 66% loss, XRP at 58%, Dogecoin at 56%, Litecoin at 51%, and Chainlink at 27%. Despite Bitcoin’s current trade being 45.5% below its $126,000 record, it still is approximately 48% higher than the $46,300 seen at the opening of its spot ETF.

Bitcoin ETF Sees Greatest Net Inflows

By November 12, Alpha Finance reported a total of $55.13 billion in net inflows to U.S. spot Bitcoin ETFs and $11.61 billion into Ethereum ETFs. The inflow into Bitcoin funds is nearly five times that for Ethereum.

In the first-year comparison, Bitcoin ETFs registered $36.22 billion in net inflows whereas XRP saw $1.8 billion, and Solana $1.51 billion. The announced net inflows for Hedera amounted to $116.4 million, Litecoin to $16.6 million, and Dogecoin to $15.1 million.

Why Has Altcoin ETF Demand Remained Limited?

Bitcoin’s 21 million supply cap supports its “digital gold” narrative, making its investment case clearer for traditional financial institutions. According to Tiger Research Director Yoon Seung-sik, the lagging funds inflow into altcoin ETFs is primarily due to a lack of information and education on projects beyond Bitcoin and Ethereum. Moreover, valuating these tokens’ divergent technologies and use cases becomes more challenging during economic uncertainty.

The limited involvement of major asset managers also impacts demand. BlackRock, which offers both Bitcoin and Ethereum ETFs, stated in August 2025 that client demand was limited, ruling out immediate plans for an XRP or Solana spot ETF. Bloomberg’s ETF analyst Eric Balchunas noted that the company currently lacks a compelling reason to launch a new crypto ETF.

If the market recovers, Yoon suggested, spot ETFs could introduce new capital from traditional finance into altcoins. However, as Block Scholes pointed out, weak market conditions and low investor turnout have so far restricted the effectiveness of ETF launches. The group noted that a potential altcoin rally might concentrate around just a few cryptos that already have ETFs or are nearing ETF approval.

Should Bitcoin see a rebound, net inflows into XRP and Solana ETFs might reveal how extensive the recovery is across the market. Persistent fund demand for only a select few cryptocurrencies makes it challenging for a broader altcoin rally.