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The cryptocurrency market strengthened earlier this week but came under sharp selling pressure on Thursday, erasing much of its previous gains. In the latest market snapshot, Bitcoin (BTC) is trading near 81600.00 (+0.9%), Ethereum (ETH) at 2400.00 (+2.1%), Tether (USDT) at 0.9991 (–0.01%), BNB at 744.00 (+5.1%) and XRP at 1.3250 (+4.8%). Total cryptocurrency market capitalization has declined to approximately $2.73 trillion, while Bitcoin dominance has increased to 60.0%. From October 19 to 22, US spot Bitcoin ETFs recorded net inflows of $439.1 million, while Ethereum ETFs saw outflows of $225.1 million. The market remains volatile despite the recovery attempt discussed in our previous crypto weekly review.
The blockchain entrepreneur is calling for a radical rethink of how artificial intelligence is developed and integrated with crypto technologies, assigning Ethereum a central role in that process.
United States of America. The U.S. dollar is strengthening against the pound and showing mixed dynamics against the euro and the yen.
The ETH/USD pair has been under heavy pressure since mid-January and reached April lows near 1,746.00 late last week. Over the weekend, however, it managed to rebound toward the 2,010.00 area. The current recovery appears to be driven by temporary technical factors, as the medium-term fundamental backdrop remains negative for the broader cryptocurrency market.
The crypto market is currently experiencing extreme volatility. While Bitcoin continues to gain acceptance in Western markets, China is tightening regulatory pressure.
This week, digital assets saw a sharp correction to the downside: BTC is trading around 65,200.00 (–17.2%), ETH near 1,900.00 (–20.3%), USDT around 0.9999 (+0.03%), BNB at 630.00 (–16.2%), and XRP near 1.3100 (–17.6%). Total market capitalization fell to $2.24 trillion, while Bitcoin’s market dominance declined to 58.2%. At the same time, Bitcoin ETF balances decreased by $689.2 million and Ethereum ETFs by $149.1 million.
The apocalyptic sell-off in the cryptocurrency market continues. Bitcoin is testing the $60,000 level, putting Michael Saylor’s strategy under serious pressure. Here are the key reasons behind the move.
The crash in the cryptocurrency market continues, with analysts seeing signs of coordinated action behind the current sell-off.
The SOL/USD pair has been losing ground for the third consecutive week amid a broader market downtrend and reached a January 2024 low near 89.20 yesterday.
The ETH/USD pair traded for an extended period within a sideways range of 3437.50–2770.00 (Murrey level [3/8], 61.8% Fibonacci retracement), but last week it exited this range after breaking below the lower boundary and resumed movement within a descending channel. Yesterday, the price tested the 2187.50 level (Murrey level [–1/8]) near the June lows. A breakdown below this area would likely open the way toward 1875.00 (Murrey level [–2/8]) and 1481.60 (100.0% Fibonacci retracement). However, if the price manages to consolidate above the 3165.00–3125.00 resistance zone (50.0% Fibonacci retracement, Murrey level [2/8]), an upside breakout from the range could occur, signaling a trend reversal and opening the path for growth toward 3750.00 (Murrey level [4/8]) and 4062.50 (Murrey level [5/8], 23.6% Fibonacci retracement).
Last week, the BTC/USD pair corrected lower, and today it tested the April 2024 low at 75,000.00 (Murray level [0/8]).
The cryptocurrency market is under heavy pressure as large-scale Bitcoin liquidations, extreme investor fear, and weak macroeconomic data continue to weigh on prices. Over the past 24 hours, the market has suffered a sharp decline in overall value.
After the sell-off in Bitcoin and Ethereum, the market is licking its wounds. Meanwhile, ETH whale Tom Lee is sitting on losses of nearly $6 billion.
For crypto, the framework is similar to traditional financial markets but comes with its own twist. Here, price action turns on liquidity, adoption, regulation, and flows from institutions alongside retail sentiment. Network health—hash rate, staking, active wallets—adds another layer. Macro still matters too: rates, dollar strength, and risk appetite shape inflows and outflows. Then, as with any market, you use the chart—trend, support and resistance, momentum, and volume—to spot setups and manage risk.