Altcoin liquidity thins further as traders unwind leveraged positions across major exchanges

Crypto markets weakened on 17 November as leveraged unwinding reduced altcoin liquidity, keeping Bitcoin below $95K and Ethereum near $3,040.

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Altcoin liquidity thins further as traders unwind leveraged positions across major exchanges

Altcoin liquidity thins further as traders unwind leveraged positions across major exchanges
Crypto markets on 17 November 2025 experienced another pullback as traders rapidly unwound leveraged positions following a spike in derivatives funding rates. Altcoin liquidity fell sharply during the early Asian session, amplifying price swings in tokens linked to DeFi, gaming and cross-chain interoperability protocols. Bitcoin stayed below the $95,000 threshold, while Ethereum hovered close to the $3,040 level after increased staking-exit activity. Analysts noted that thinner order books across major exchanges are contributing to fragmented liquidity, with institutional desks facing wider spreads. 
Market observers expect volatility to remain elevated until exchange outflows stabilize.