Bitcoin dropped to 107,000 $, losing about 3% in the past 24 hours. Ethereum fell even deeper — by more than 4%, currently trading around 3,700$. The altcoin market is also painted red. Among the biggest losers are memecoin SPX6900 (–15%) and AI project Virtuals (–14%). Only a few assets managed to post gains — notably Dash (+16%) and Aster (+12%).
Dash’s growth is linked to renewed interest in privacy coins following the hype around Zcash, while the Perps protocol Aster surged after Binance founder Changpeng Zhao (CZ) revealed on X that he had purchased Aster worth roughly 2 million $.
While futures on the S&P 500 and Nasdaq 100 continue to edge higher, bears have once again taken control of the crypto market. According to analytics firm Lookonchain, the recent price drop is largely driven by old Bitcoin whales such as Owen Gunden, who keep taking profits and selling BTC.
Meanwhile, U.S. earnings season is in full swing — around 300 companies from the S&P 500 have already reported Q3 results, and another 100 plus are due this week.
However, the ongoing U.S. government shutdown continues to delay key macroeconomic data releases, including the jobs report. As a result, investors this week are primarily focused on the ISM PMI indices and the University of Michigan inflation expectations.