A fresh wave of pessimism is sweeping across crypto markets, but the mood shift may be doing more good than harm.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Bitcoin continues to consolidate below the $105,000 mark, maintaining stability above the key $100,000 support level despite ongoing market uncertainty. Bulls appear to be losing momentum, yet sellers are showing signs of exhaustion as the price resists further decline. According to top analyst Darkfost, the market has entered a clear deleveraging phase following the major liquidation event on October 10 — a structural reset that is removing excessive leverage from the system. Related Reading: Ethereum Whale Adds $105M To His ETH Position – $1.33B Bought Since Nov 4 Data shows that open interest — the total value of active futures contracts — has fallen by 21% over the past 90 days, marking one of the steepest declines of the cycle. This drop reflects traders reducing risk exposure and liquidations steadily clearing overleveraged positions. Darkfost notes that leverage usage is gradually cooling down, with the current drawdown echoing previous cleansing phases seen in September 2024 and April 2025. Historically, such periods of forced unwinding have preceded new market strength as liquidity stabilizes and speculative excess fades. Deleveraging Signals a Potential Turning Point for Bitcoin Darkfost explains that the current deleveraging phase bears striking similarities to previous corrective periods that ultimately paved the way for major recoveries. During the September 2024 and April 2025 corrections, open interest fell by approximately 24% and 29%, respectively — deep enough to flush out excessive speculation and restore balance across the market. With the current 21% decline in open interest over the last three months, Bitcoin is now approaching those same historical levels of leverage reduction. According to Darkfost, these phases are not necessarily bearish; instead, they serve as healthy resets during bullish market cycles. By forcing overleveraged traders to exit and cooling down speculative behavior, the market is able to rebuild on a stronger, more stable foundation. In past cycles, such unwinding events were often followed by trend reversals once selling pressure eased and new demand emerged. The reduction in leverage also tends to attract long-term investors and institutions seeking lower-risk entry points. If Bitcoin continues to hold its ground above $100K through this period of structural cleanup, it could signal that the worst of the correction is over, setting the stage for a potential new impulse phase once confidence returns. Related Reading: Bitcoin Inflows To Binance Surge: Daily Average Hits 7,500 BTC BTC Tests Support As Consolidation Continues Above $100K The weekly Bitcoin chart shows that BTC remains in a tight consolidation range between $100,000 and $105,000, testing key structural support. The price has repeatedly defended the 100-day moving average (blue line), indicating that despite sustained selling pressure, buyers continue to step in around this psychological zone. The overall trend remains bullish on higher timeframes, with the 200-week moving average (red line) trending upward and well below current price action — a signal that Bitcoin’s long-term market structure remains intact. However, momentum indicators reflect weakness, as BTC struggles to reclaim the $110,000 resistance level that capped previous rebound attempts. Related Reading: Bitcoin STH-MVRV Rebounds From Local Low – Potential Recovery Toward $115K–$120K Trading volume has decreased since the October liquidation event, aligning with Darkfost’s observation that the market is undergoing a deleveraging phase. This lower volume environment suggests investor hesitation but also indicates that forced selling may be nearing exhaustion. A decisive weekly close above $106,000 could confirm renewed bullish momentum, while a breakdown below $100,000 might trigger deeper corrections toward $92,000 — the next major support zone. Featured image from ChatGPT, chart from TradingView.com
Technical breakdown occurred despite positive institutional developments as volume surged during selloff
CoinGlass data shows that of the total liquidations across digital assets, $342 million came from long positions.
Bitcoin data forecast the drop to $98,000 as key supports failed to generate hefty buying from bulls, and futures traders saw their long positions liquidated.
The European countries are fast adopting Bitcoin (BTC) as a strategic reserve asset. After President Donald Trump led the United States in implementing a strategic Bitcoin reserve, countries in the European region are moving in the same direction as a hedge against inflation and macroeconomic uncertainty. Luxembourg and the Czech Republic Adopt Bitcoin Against All …
21Shares’ new crypto index ETFs utilize the stricter 1940 Act framework, marking a shift toward traditional fund oversight for diversified digital asset exposure.
Luxembourg's strategic Bitcoin investment highlights Europe's growing focus on digital assets to enhance global financial competitiveness.
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Bitcoin falls under $100K as market cap dips below $2T, with altcoins sliding amid macroeconomic uncertainty and cautious sentiment.
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The company said it has closed its $175 million private placement meant to fund the formation of the official DOGE treasury strategy
Bitcoin fell below $100K on Thursday, triggering $117M in long liquidations in one hour as overleveraged traders faced forced sell-offs
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The XRP market just hit a historic milestone as the first U.S. spot XRP ETF, Canary Capital’s XRPC, officially debuts on Nasdaq, sending bullish shockwaves for the XRP price and other assets in the market. Related Reading: Ethereum Ready To Explode To $12,000 By January, Says Tom Lee The launch gives traditional investors direct exposure to XRP through regulated brokerage accounts, and analysts say this could be the spark that propels prices sharply higher in the coming weeks. XRP's price moving sideways on the daily chart. Source: XRPUSD on Tradingview First Spot XRP ETF on Nasdaq Unlocks New Demand Nasdaq has certified the Canary Capital XRP ETF for trading under the ticker XRPC, making it the first fully spot-based XRP ETF in the U.S. The fund holds XRP directly and tracks the XRP-USD CCIXber Reference Rate Index, offering a simple, regulated way for institutions and retail investors to gain exposure without managing wallets or private keys. The ETF’s approval comes after the fund completed its Form 8-A filing with the SEC, clearing key regulatory hurdles. Other heavyweights, Franklin Templeton, Bitwise, CoinShares, and 21Shares, also have XRP ETF applications in the pipeline, signaling a second wave of products that could further deepen liquidity and demand. On-chain data already shows shifting behavior ahead of the launch. Exchange inflows are down, suggesting holders are accumulating rather than selling, even as XRP trades around the $2.39–$2.50 zone and consolidates above support near $2.20–$2.40. Analysts See ‘Face-Melting’ XRP Price Rally as Technicals Coil Popular crypto analyst Egrag Crypto believes XRP is entering the final stages of a major consolidation that could lead to an explosive move within 4–6 weeks. Drawing on historical rallies in 2017 and 2021, he notes that XRP is once again forming a large symmetrical triangle, typically a “compression before expansion” structure. Using Fibonacci projections, Egrag highlights potential long-term targets between $10 and $37, while acknowledging that short-term market sentiment remains cautious. He argues that impatience and emotional selling often precede the biggest upside moves, and that today’s sideways action is more “preparation” than weakness. BlackRock Narrative and Macro Tailwinds Add Fuel Institutional narratives are also lining up behind XRP. At Swell 2025, BlackRock’s Maxwell Stein described the XRP Ledger as a scalable rail for trillions of dollars in tokenized assets and cross-border payments, reinforcing XRP’s status as a utility-driven asset rather than a purely speculative token. Related Reading: Bitcoin Death Cross Is Coming: Don’t Be Fooled By The Name With the Fed’s December rate decision approaching and risk appetite poised to shift, XRP now sits at the intersection of a powerful trio. Fresh ETF inflows, tightening technical patterns, and growing institutional validation. If these forces align, the XRPC launch may be remembered as the moment XRP’s next major rally truly began. Cover image from ChatGPT, XRPUSD chart from Tradingview
OKX is following competitors like Coinbase by integrating DeFi trading directly into their core self-custody wallet product.
After Bitcoin and Ethereum drew massive institutional inflows, XRP now finds itself at the center of a new round of speculation. XRP price is quietly climbing back into the spotlight as whispers of potential exchange-traded fund (ETF) filings begin to circulate through Wall Street. With several key financial giants reportedly preparing major filings from mid- …
The most influential crypto events of 2025 included sweeping regulatory moves, ecosystem expansion and the rise of new onchain trends.
Upexi's board of directors approved $50 million for an open-ended stock repurchase program, intended to boost shareholder value.
Long-term Bitcoin holders sell 815,000 BTC in 30 days, intensifying market supply and pressuring prices amid sluggish buying demand.
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Canary Capital’s spot XRP ETF surpassed $36 million in trading volume within its first three hours on Nov. 13, positioning the fund as a contender for the strongest exchange-traded fund debut of 2025. The XRPC traded at $25.74 as of 4:43 P.M. UTC, generating volume equivalent to 63% of Bitwise’s Solana ETF (BSOL) first-day performance, […]
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XLM retreated to $0.281 as selling pressure intensified during afternoon trading, with volume surging amid failed resistance test.
Crypto’s U.S. trading-hour weakness continues as hopes for new 2025 BTC high fade, market strategist said.
The registration statement was made public about four months after the asset manager had filed confidentially for an initial public offering.
The analysts said Circle’s third-quarter results were solid.
The expansion gives XRP holders access to BNB Chain DeFi, allowing them to earn additional yield on top of mXRP’s base strategy returns.
According to market watchers, US-listed spot Bitcoin ETFs posted a $520 million inflow on Tuesday, a sharp change after a mild $1.15 million inflow the day before and a recent week that saw $1.22 billion in withdrawals. Related Reading: XRP Has Held Its Ground As Most Altcoins Fall, Market Observers Say That swing in flows is being watched closely because inflows into ETFs have in the past helped drive big price climbs. Right now Bitcoin trades around $104,000, and some analysts say a jump toward $160,000–$170,000 is possible if buying pressure keeps building. Diminishing Golden Curves Hint At Lower Peaks Based on reports from CryptoCon, a model called diminishing golden curves maps price bands using logarithmic regression. The model tracks how far Bitcoin moves above a “Golden Curve” growth path and labels those moves with deviation levels. The next target for #Bitcoin is between $160,000 and $170,000 ???? pic.twitter.com/QAd3RdDS8q — Bitcoin Teddy (@Bitcoin_Teddy) November 12, 2025 Past cycle tops landed at +5 in November 2013, +4 in December 2017, and +3 in November 2021. CryptoCon’s projection now places the next top near the +2 band, which translates to a range between $160,000 and $170,000, with a possible swing toward $186,000. If that plays out, Bitcoin would climb about 70% from current levels near $104,000. Halving Rhythm Still In Play Reports show the chart also uses halving-based sine waves. Since the last halving occurred in April 2024, the model expects a market peak in late 2025, a timing that matches the rough 12–18 month pattern seen after previous halvings. That rhythm has been a simple guide for many traders. It is not a guarantee, but it helps explain why analysts are paying attention to late 2025 as a possible climax point. Stablecoin And Exchange Reserves Add Weight On-chain signals add more detail. The stablecoin supply ratio has fallen to levels that historically lined up with market lows, suggesting there is dry powder waiting on the sidelines. Data from Binance shows stablecoin reserves rising while Bitcoin reserves on the exchange fall — a mix often read as accumulation by long-term holders. CryptoQuant analyst Moreno says liquidity is increasing and volatility is low, which can make the risk-reward seem attractive to buyers. Related Reading: Dogecoin Alert! Price Could Explode Over 2,800%, Analyst Says Timing And Risks Remain Important Market conditions could change quickly, Especially with new economic data and the end of the US government shutdown. That kind of macro event can add volatility and shift flows. Models like the Diminishing Golden Curves are useful tools, yet they depend on history repeating in ways that might not hold if a major shock appears. Featured image from Unsplash, chart from TradingView
Musk's denial highlights potential misinformation risks in tech funding, impacting investor trust and market perceptions of AI ventures.
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Hedera's native token retreats from $0.1817 to $0.1754 despite institutional accumulation.
Internet Computer trades within a narrow range after an early-volume breakout attempt stalled, keeping the token pinned between key support at $6.05 and $6.66.
Bitfarms reported revenue of $69 million, which was up 156% year over year but missed most estimates by around 15%.
The Solana-centric company is joining a growing list of crypto treasury companies opting to buy back shares as investor appetite for DATs vane.