đĨ Market Deep Research (22 Nov 2025): BTC Liquidity Shock & Altcoin Rotation
The two main factors currently putting the biggest pressure on the crypto market are:
(1) Sudden liquidity drop of BTC
(2) Decline in Open Interest & Funding Rates in the derivatives marketâboth have fallen
In the past few weeks, a significant correction has occurred from the ATH of $BTC . Spot liquidity has decreased, and market makers have increased high-frequency manipulation in response to cascading liquidations at the derivatives level.
Funding rates are nearly neutral/negativeâindicating that market momentum is weak.
With Open Interest down nearly 20â30%, the potential for a significant directional move has increased.
đ Capital rotation is being observed in the altcoin sector.
AI, L2 Scaling, Modular blockchainâthese three narratives are currently the most active accumulation zones.
What to Watch:
âĸ $BTC : $80kâ$100k key range
âĸ OI Recovery â big trend
âĸ Funding spike â short squeeze / long squeeze
âĸ Exchange inflows â selling pressure
Bottom Line:
Now is not the time for âTrend chasing,â but for âData-driven patience.â
The next big move will start when liquidity returns.

