Cryptocurrency market update: Crypto bears regain poise, Bitcoin risks further falls


  • Bears regain control on Saturday after recent downpour across the crypto space.
  • Bitcoin leads the decline amongst the top three dominant cryptocurrencies.

Top 3 coins’ price overview

  • Bitcoin’s (BTC/USD) recovery from six-month lows faltered at the 61.8% Fibonacci Retracement (Fib) level of Friday’s slump, located near 7,365 region.  The bears are back in command and target the next support aligned at 7,000 (psychological level), having breached the 38.2% Fib at 7,147. The most widely traded cryptocurrency is down 3% over the last 24 hours, with its market capitalization shrinking to $ 129.55 billion.
  • Ethereum (ETH/USD), the second-largest digital asset with the current market capitalization of $16.14 billion, is back in the red zone, as the market witnessed a dead cat bounce from eight-month lows of 138.19 reached on Friday. The downside bias remains intact, despite the several recovery attempts, as the coin is set to book about 19% loss on a weekly basis. At the press time, ETC/USD exchanges hands around 148.90, losing nearly 4% over the last 24 hours.
  • Ripple (XRP/USD) quickly reversed from daily lows of 0.2264, but the bounce now appears limited in absence of weekend love for the digital assets. The recovery seen earlier on the day died down and the rates slipped back below the 0.2300 level. The No. 3 coin remains vulnerable going forward, with a test of the two-month lows of 0.2223 more likely. Ripple is seen 1.10% lower on the day, enjoying a market capitalization of $9.86 billion.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin Weekly Forecast: BTC in positive tone ahead of third highest-returning month

Bitcoin Weekly Forecast: BTC in positive tone ahead of third highest-returning month

Bitcoin price hovers around $104,000 on Friday after bouncing off its 50-day Exponential Moving Average earlier this week. A K33 Research explains how Nvidia’s big drop in stock valuation this week, driven by DeepSeek, affected Bitcoin’s price.

More Bitcoin News
Altcoins LINK, AVAX and LTC Price Prediction: Double-digit gains ahead

Altcoins LINK, AVAX and LTC Price Prediction: Double-digit gains ahead

Altcoins Chainlink (LINK), Avalanche (AVAX) and Litecoin (LTC) prices found support around key levels earlier this week. Their technical outlook shows a bullish picture and hints at double-digit gains ahead.

More Cryptocurrencies News
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP recovery could be short-lived

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP recovery could be short-lived

Bitcoin price hovers around $104,000 on Friday after bouncing off from its 50-day Exponential Moving Average of around 98,800 earlier this week. Ethereum and Ripple approach key resistance levels; if rejected, they could lead to a correction ahead.

More Cryptocurrencies News
XRP on the brink of 27% rally amid surge in crypto ETF filing activities

XRP on the brink of 27% rally amid surge in crypto ETF filing activities

Ripple's XRP is up 2% in the Asian session on Friday following the New York Stock Exchange (NYSE) Arca 19b-4 filing with the US Securities and Exchange Commission (SEC) for the conversion of Grayscale's XRP Trust into a spot ETF. 

More Ripple News
Bitcoin: BTC in positive tone ahead of third highest-returning month

Bitcoin: BTC in positive tone ahead of third highest-returning month

Bitcoin (BTC) price hovers around $104,000 on Friday after bouncing off its 50-day Exponential Moving Average earlier this week. A K33 Research explains how Nvidia’s big drop in stock valuation this week, driven by DeepSeek, affected Bitcoin’s price. 

Read full analysis
The Best Brokers of the Year

The Best Brokers of the Year

SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.

Read More

BTC

ETH

XRP