Alexander Kuptsikevich
FxPro Financial Services Limited
Bitcoin was down 4.9% on Thursday, ending around $20.7K and trading near $20.8K at the start of the day on Friday. Ethereum lost 6.4% in the last 24 hours, returning to the 1100 area. Altcoins in the top 10 fell in price from 2.9% (BNB) to 8.8% (Polkadot).
Total crypto market capitalization, according to CoinMarketCap, sank 3.5% overnight to $903bn. Bitcoin’s dominance index fell 0.3 points to 44.0%. The Cryptocurrency Fear and Greed Index was up 2 points to 9 by Friday.
Although we did not see any new intraday lows, Bitcoin closed Thursday with a tenth consecutive day of declines. New lows in stock indices contributed mainly to this.
Bitcoin could be uncharted territory in a few days when historical patterns stop working.
The bearish focus remains on the circular $20,000 level, the former peak of 2017. At no time in past down cycles has BTC fallen below the high of the previous bull cycle. Closing the week below $22.3K would also be unique, as it would be the first close below the 200-week average. Bitcoin has previously fallen below this curve more than once but quickly regained some ground, finding ample demand from long-term investors amid a deep and quick sell-off.
The latest issue to attract investors’ attention has been the uncertainty surrounding Singapore-based cryptocurrency fund Three Arrows Capital (3AC). The hedge fund could be the subject of a new scandal amid growing speculation about its possible bankruptcy.
Commodity Futures Trading Commission (CFTC) Commissioner Christy Goldsmith Romero called on the US Congress to close the cryptocurrency regulation gap and compared the collapse in the crypto-asset market to the 2008 financial crisis.
Trade Responsibly. CFDs and Spread Betting are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.37% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider. The Analysts' opinions are for informational purposes only and should not be considered as a recommendation or trading advice.
Recommended Content
Editors’ Picks
Bitcoin to extend its consolidation between the $75,000 to $88,000 range
Bitcoin price faces a slight rejection around the $85,000 resistance level on Wednesday after recovering 3.16% the previous day. A K33 report highlights that Cryptocurrencies and Equities have largely de-risked going into Donald Trump’s “Liberation Day” on Wednesday.
Maker, Gala and Polygon lead $100k whale transactions, can altcoins defy looming macro uncertainty?
Maker (MKR), GALA, and Polygon (POL) are among the crypto projects that have seen a spike in whale transactions of at least $100,000 in the past week, as revealed by Santiment on-chain data.
Cardano and Binance Coin Price Forecast: Altcoins ADA and BNB show weakness in momentum indicators
Cardano (ADA) and Binance Coin (BNB) prices edge slightly down, trading around $0.66 and $598, respectively, at the time of writing on Wednesday after a mild recovery so far this week.
Public firms turn balance sheets into Bitcoin vaults: Gamestop raises $1.5 billion; Metaplanet adds 160 BTC
Public companies are increasingly converting their balance sheets into Bitcoin reserves. Gamestop (GME) has raised $1.5 billion in capital, with potential plans to allocate part of the funds toward expanding its Bitcoin treasury.
Bitcoin: BTC remains calm before a storm
Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.