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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.
Bitcoin has seen a sharp drop of more than 14% since October 6, but on-chain data tells a different story.
The crypto market has lost nearly $150 billion in value, with most coins down between 5% and 10%. Bitcoin fell by 3%, Ethereum by 6%, and some altcoins like Solana dropped as much as 10%. Almost all major cryptocurrencies are trading in the red.
The ETH/USD pair is forming a medium-term downtrend while correcting within a long-term uptrend. Last week, the price tested the lower boundary of the descending channel at 3540.00 (Fibonacci 38.2% retracement). A breakdown below this level could push the pair toward 3125.00 (Murray [2/8], Fibonacci 50.0%) and 2500.00 (Murray [0/8]). However, if the price breaks above 4062.50 (Murray [5/8], Fibonacci 23.6%) and the middle Bollinger Band, it could exit the range and continue higher toward 4687.50 (Murray [7/8]) and 5000.00 (Murray [8/8]).
Due to heavy selling by major Bitcoin holders, the cryptocurrency started the week with a fresh decline.
Last week, the BTC/USD pair saw a sharp downside correction, testing the 106,250.00 level (Murray level [2/8]) amid signals that the U.S. Federal Reserve could keep its interest rate unchanged in December, as well as the underwhelming outcome of the much-anticipated meeting between the U.S. and Chinese leaders.
More than 2.3 million Solana (SOL) — about $425 million — jumped between wallets in under 30 minutes on November 1. According to Whale Alert, part of the funds ended up on Coinbase, while the rest moved through a chain of unknown addresses. No one has said publicly what the purpose was, so the market is now guessing: was it a whale reshuffling coins, or was it an institutional desk moving liquidity in bulk?
Crypto Market Overview. This week, the cryptocurrency market has seen a broad correction: BTC is trading near 109,375.00 (–3.6%), ETH around 3,830.00 (–7.1%), USDT at 1.0008 (–0.04%), BNB near 1,100.00 (–2.6%), and XRP at 2.4700 (–5.7%). Total market capitalization dropped to $3.67 trillion, while Bitcoin’s dominance reached 59.3%. Bitcoin ETFs added $607.4 million, whereas Ethereum ETFs remained flat at $114.3 million.
“Uptober” has officially fizzled out: crypto markets are sliding as Bitcoin and Ethereum struggle to hold key levels.
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The SOL/USD pair trades within a long-term upward channel but remains near its lower boundary. Investors were disappointed by comments from Federal Reserve Chair Jerome Powell, suggesting the Fed might keep interest rates unchanged in December, which prevented the pair from gaining momentum. Prices remain around the middle Bollinger Band line. The key bearish support zone is still seen at 187.50–183.80 (Murray level [4/8], 50.0% Fibonacci correction). A break below this range could push the pair out of the channel, targeting 165.70 (38.2% Fibonacci correction) and 140.62 (Murray level [1/8], 23.6% Fibonacci correction). Conversely, a rebound and consolidation above 218.75 (Murray level [6/8]) would open the way to 250.00 (Murray level [8/8]) and 265.62 (Murray level [+1/8]).
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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.