Blockchain payments company Ripple has no immediate plans to follow the trend of digital asset firms going public. In a recent interview with Bloomberg at the company’s Swell conference in New York, Ripple President Monica Long stated, “We do not have an IPO timeline. No plan, no timeline.” 

Her comments highlight the company’s present priorities, which include expanding its payments business, launching dollar-pegged cryptocurrencies, often known as stablecoins, and forming new alliances, rather than pursuing an initial public offering.

IPO Aspirations Remain On Hold

These remarks come shortly after Ripple successfully closed a $500 million funding round earlier this week, achieving a valuation of $40 billion. This funding round was led by notable investors such as Fortress Investment Group and Citadel Securities, along with contributions from Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. 

The substantial backing indicates that Ripple is not under financial pressure to seek public capital at this time. Long emphasized that the company remains “very well capitalized,” allowing it to fund “organic growth” and pursue acquisitions or partnerships without needing to turn to the public markets.

This decision positions Ripple differently from its peers, including stablecoin issuer Circle (CRCL), Bullish (BLSH), and Gemini (GEMI), all of which have recently gone public in the US as part of a broader wave of digital asset listings. 

For holders of XRP, Ripple’s choice to delay an initial public offering presents mixed implications. On one hand, the lack of a near-term public listing might postpone hopes for a liquidity event that could enhance XRP’s market visibility. 

Conversely, the recent funding round and a reportedly doubled customer base quarter-over-quarter bolster confidence in Ripple’s growth trajectory and its stablecoin payment strategy.

Institutional Confidence In Ripple 

Analysts suggest that the $500 million raise at a $40 billion valuation reflects strong institutional confidence in Ripple’s long-term prospects. Coupled with the increasing on-chain adoption of the XRP Ledger (XRPL) for stablecoin and cross-border payments, this funding could help stabilize XRP’s price and pave the way for future rallies, especially if Ripple continues to expand its presence in the enterprise sector.

Furthermore, Ripple’s focus on integrating stablecoins and progressing through regulatory frameworks appears to be bearing fruit. Long noted that clearer regulations in the US and internationally have “opened up the market,” leading to a surge in adoption. 

Currently, XRP is trading within its short-term range, which formed following continuous corrections between $2 and $2.60. The altcoin is currently trading at $2.32 and has seen a 4.7% recovery in the past 24 hours, with a clear resistance wall at $2.69.

Featured image from DALL-E, chart from TradingView.com 

Following the crypto market crash on October 10, a bearish sentiment has dominated, with on-chain data indicating a continued decline in digital asset prices. Bitcoin (BTC), for instance, is nearing one of its worst weekly performances of the year, having recorded a 6% drop over the past seven days. 

The leading cryptocurrency has fallen below the critical $100,000 mark for four consecutive days. If this downward trend persists and is confirmed in the coming days, it could exacerbate selling pressure and further instill fear in the market, potentially leading to broader price declines.

Short-Term Weakness Likely To Persist

Taking a broader view, the market presents a mixed picture. Solana (SOL) has decreased by 20% year-to-date, while Chainlink (LINK) has suffered a 33% drop. 

Although Bitcoin, XRP, and Ethereum (ETH) have seen some gains this year, they have not outperformed the stock market, which has risen by 14% during the same period.

Interestingly, October also recorded the highest weekly inflow into global crypto exchange-traded funds (ETFs), with $5.9 billion entering in the first week alone, primarily driven by Bitcoin and significant allocations to Ethereum. However, this has failed to result in new recoveries for these assets. 

Recent announcements from the Federal Reserve (Fed) indicate that it will cease quantitative tightening (QT) on December 1, accompanied by an interest rate cut. This change is expected to inject more liquidity into the crypto financial system. 

However, analysts at The Motley Fool caution that while increased liquidity does not guarantee higher cryptocurrency prices, the cessation of QT removes a persistent headwind. 

They argue that although the environment in October felt bleak, the policy outlook suggests a more favorable climate moving forward. This makes it hard to predict a deep bear market in crypto at this juncture, although short-term weakness is likely to persist for some time.

Crypto Market Struggles For Stability

While the recent selloff has affected the entire market, the most significant losses have been among altcoins. Augustine Fan, a partner at SignalPlus, noted that aside from Bitcoin and Ethereum, the broader crypto market has been struggling for months, with minimal new investments flowing into alt-tokens or decentralized finance (DeFi) projects. 

He highlighted that, without new catalysts and amid ongoing concerns regarding security and regulation, mainstream participation in the market is likely to remain subdued.

Jeff Mei, the chief operating officer of crypto exchange BTSE, attributed the latest dip in digital assets partly to worries that artificial intelligence (AI) stocks are overvalued. 

He warned that if a selloff occurs in artificial intelligence and tech stocks, Bitcoin could potentially fall below the $100,000 threshold, with altcoins likely to experience even steeper declines.

When writing, Bitcoin managed to recover above the $103,000 mark. Yet, the leading crypto is still 18% below all-time high levels of $126,000 reached just days before the infamous market crash on October 10. 

Featured image from DALL-E, chart from TradingView.com 

Charles Edwards, founder of Capriole Investments, has identified a concerning trend in the Bitcoin (BTC) and broader cryptocurrency market that adds to the ongoing sentiment of bearishness among investors. 

Over 1 Million BTC Sold By OG Investors Since June

In a recent post on the social media platform X (formerly Twitter), Edwards highlighted that “OG” Bitcoin whales are actively cashing out their holdings.

Accompanying his remarks was a chart illustrating the extent of this phenomenon, showing on-chain spending from “OG” Bitcoin holders—those who have held their assets for over seven years. 

The chart prominently features two color-coded categories: orange for $100 million dumps and red for $500 million dumps, vividly demonstrating the scale of liquidations by these long-term investors. 

Notably, the chart reveals that OG Bitcoin whales have been offloading their assets continuously since November 2024, which helps explain Bitcoin’s underperformance compared to other risk assets throughout 2025.

Despite this selling pressure, the market has exhibited unusual resilience, absorbing these large sell-offs without experiencing the drastic price declines typically seen in previous cycles. 

This behavior represents a new pattern for the market, as Wall Street analysts have noted that the net sales from long-term holders have surpassed 1 million Bitcoin since late June, according to research from Compass Point analyst Ed Engel.

Potential Liquidations Driving Bitcoin To $70,000

A significant liquidation of leveraged crypto positions on October 10 further compounded the market’s struggles, with Bitcoin failing to regain critical support levels of $117,000 and then $112,000. 

Markus Thielen, founder and CEO of Singapore-based 10X Research, expressed his concerns in an interview with Yahoo Finance, noting that the inability to reclaim these levels suggests that the market may indeed be in a bear cycle. 

His firm, which had previously predicted Bitcoin would fall to $100,000, now believes the market could be “a few weeks away” from finding a buyable bottom.

Thielen also warned of a potential correction that could see Bitcoin prices decline further, citing the recent strength of the US dollar as an additional challenge for the crypto markets. 

He mentioned an “air pocket” below $93,000, indicating a lack of support that could lead to further liquidations, possibly driving prices down to the $70,000 range.

Featured image from DALL-E, chart from TradingView.com 

Keonne Rodriguez, one of the co-founders of the cryptocurrency mixer Samourai Wallet, was sentenced to five years in prison on Thursday for his role in operating a service that allegedly laundered “hundreds of millions of dollars” derived from illegal dark web activities and fraudulent schemes. 

US District Judge Denise Cote imposed the maximum sentence for the charge of conspiring to run an unlicensed money-transmitting business during a hearing on Thursday.

Rodriguez Pleads Guilty In Samourai Wallet Case

Rodriguez entered a guilty plea to this charge back in July as part of a plea agreement with prosecutors. In a memorandum submitted by prosecutors on October 31, they requested five-year sentences for both Rodriguez and his fellow co-founder, William Lonergan Hill.

The filing alleged that for nearly a decade, the duo operated a significant money laundering operation through Samourai Wallet, facilitating the laundering of more than $237 million in criminal proceeds between 2015 and 2024. The transactions linked to their service were tied to various criminal activities, including fraud and even murder-for-hire plots.

At the sentencing, Judge Cote criticized Rodriguez for facilitating the laundering of funds often stolen from unsuspecting victims. “You chose to use your considerable talents to make it harder to recoup those stolen funds,” she remarked.

The Samourai Wallet case stands out as one of the few crypto-related prosecutions to survive President Trump’s pro-crypto administration, which led to the withdrawal of various enforcement actions by US regulators against significant firms such as Coinbase (COIN), Uniswap, and others. 

Recent guidelines released by the Department of Justice (DOJ) in April have raised the bar for prosecuting crypto mixers and service providers for the actions of their users, making Rodriguez’s case particularly noteworthy.

Founders Reach $237 Million Forfeiture Deal

Rodriguez’s defense team had requested a lenient sentence of just over a year, arguing that he had no prior criminal record and was seen as a model citizen and family man. 

They contended that when he started Samourai Wallet, his intention was to create a legitimate business that enhanced the privacy of cryptocurrency transactions. 

However, they acknowledged that over time, he became aware that some users were employing the service to transfer Bitcoin (BTC) from illicit activities, yet he continued to operate the business without taking steps to prevent such transactions. His lawyers characterized this behavior as regrettable criminal conduct.

Expressing his remorse during the sentencing, Rodriguez told the judge, “I am truly sorry and I understand the seriousness of my crimes.”

As part of their plea deal, both Rodriguez and Hill agreed to forfeit $237 million and pay a $400,000 fine. Hill is set to be sentenced on November 19. 

The case against Samourai Wallet bears resemblance to the DOJ’s prosecution of Tornado Cash, where developers were accused of facilitating over $1 billion in illicit transfers. 

Featured image from DALL-E, chart from TradingView.com 

Over the past month, the XRP price has experienced a significant decline, with its price dropping by 23% amid mounting selling pressure following the crypto market crash on October 10. Some analysts are now suggesting that the altcoin’s correction is not yet complete. 

A Retest Of Key Fibonacci Level On The Horizon

Market expert Casi Trades recently shared insights on social media site X (formerly Twitter), indicating that enthusiasm surrounding the recent partnership announcement with Mastercard may have been premature.

During the Ripple Swell 2025 event in New York, the company unveiled a new collaboration with Mastercard, WebBank, and crypto exchange Gemini to test its RLUSD stablecoin as a means of settling credit card transactions. 

The announcement initially propelled the XRP price toward the $2.41 mark. However, this surge was short-lived, and the price quickly retraced. It maintained its trajectory below the previous Fibonacci Wave 1 low, as seen in the chart below. 

Casi Trades noted that this price rejection reinforces the belief that the Wave 3 low at $2.05 has not been adequately tested. She anticipates that the XRP price will likely trend downward toward this Fibonacci level to complete the subwave 5 of Wave 3. 

Additionally, the relative strength index (RSI) supports this bearish outlook, indicating a divergence at the recent price high and suggesting a retest of the lower trendline is imminent.

XRP Price Poised For An Explosive 2,155% Increase? 

Despite the current bearish sentiment, some analysts maintain bullish projections for the XRP price. Egrag Crypto recently remarked that the ongoing price formation resembles a range rather than a straightforward ascending wedge or rectangle. 

Based on measured moves, projections suggest that the altcoin could reach a new all-time high around $10. If this is indeed Macro Wave 2, the anticipated Wave 3 could be 1.618 times the length of Wave 1, potentially placing targets between $14 and $25.

Moreover, the analyst pointed out the growing speculation that XRP will revisit its $0.77 wick on Binance. However, Egrag countered these discussions, noting that the altcoin could also reach the $50 “wick” observed on the Gemini crypto exchange. 

While some believe the Binance wick to $0.77 must be filled, Egrag argues that ignoring the potential for XRP to hit $50 is a mistake, especially if market symmetry comes into play. 

The analyst concluded his thesis by stating that this cycle could see the XRP price reaching that $50 level as the market undergoes its “final blow-off phase.” This would imply a major 2,155% uptrend ahead for the altcoin’s price. 

When writing, XRP trades at $2.22, still recording gains of 318% year-to-date, according to CoinGecko data. 

Featured image from DALL-E, chart from TradingView.com 

The cryptocurrency market is currently facing significant bearish pressure, with Bitcoin (BTC) struggling to reclaim previously crucial support levels. 

Recent data from CoinGecko indicates that Bitcoin has retraced nearly 6% over the past week, a decline that has impacted other major cryptocurrencies, including Ethereum (ETH), XRP, Binance Coin (BNB), and Solana (SOL), all of which have experienced double-digit losses during the same period.

Galaxy Digital Lowers Bitcoin Price Target

This downturn marks a stark contrast to the bullish sentiment observed earlier in October, when Bitcoin surged to record its current record high slightly above the $126,000 mark due to a wave of margin buying. 

However, the euphoria was short-lived, as approximately $20 billion in leveraged positions across the crypto market were abruptly liquidated just days later on October 10, contributing to the ongoing lack of confidence among investors.

Michael Novogratz’s Galaxy Digital recently revised its year-end Bitcoin price target down to $120,000, a significant cut from the previous estimate of $185,000, attributing this adjustment to the “significant leverage wipeout.” 

Market analytics firm CryptoQuant has pointed out that Bitcoin’s drop below its 365-day moving average near $102,000 could signal a deeper retreat. This moving average has historically acted as a critical support level during this bull cycle, and its failure to hold could lead to a more substantial correction in Bitcoin’s price. 

In their analysis, CryptoQuant experts elaborated on the conditions necessary for Bitcoin to reverse its current trajectory and potentially reach new all-time highs. They observed that Bitcoin led a global risk-off movement, testing the critical $100,000 support level. 

This decline was influenced by a stronger dollar and ongoing uncertainties regarding Federal Reserve (Fed) policy, which have dampened broader risk appetites across various asset classes. 

Notably, there have been four consecutive sessions of approximately $1.3 billion in net outflows from US spot BTC ETFs, reversing what had been one of the strongest tailwinds for the market in 2025.

This diminished demand in the spot market has coincided with forced deleveraging, resulting in over $1 billion in long liquidations at recent lows, which briefly breached intraday support before dip buyers stepped in. 

Stabilization Of ETF Flows Crucial

The options market has further intensified volatility, as dealers remain net short gamma around the $100,000 strike, leading to increased hedging activity near this critical level. 

The $100,000 mark now stands as a psychological barrier, and any stabilization in ETF flows could shift market sentiment, provided no new macroeconomic shocks occur.

On the macroeconomic front, the analysts assert that the current environment remains supportive, albeit clouded by the ongoing government shutdown in Washington. However, policy clarity remains elusive. 

The Federal Reserve’s recent 25 basis point cut in October, which included some dissenting opinions, was accompanied by a cautious tone that pushed back against expectations for another cut in December. 

Markets are currently pricing in a 60-65% chance of a follow-up move, but as the Fed’s blackout period continues, policymakers may become more comfortable with the idea of pausing, which would help maintain a firm dollar and tight credit conditions.

For Bitcoin to break higher sustainably, CryptoQuant’s analysis suggests that a reversal in exchange-traded fund outflows and renewed confidence in risk assets will likely be necessary. 

Featured image from DALL-E, chart from TradingView.com 

Despite a slight recovery in cryptocurrency prices on Wednesday, experts remain divided on the future direction of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The market is at a crossroads, with some analysts anticipating a deeper correction, while others see the potential for a renewed recovery.

iShares Bitcoin Trust ETF Hits 52-Week Low 

According to a report from Barron’s, all three cryptocurrencies have attracted attention from major exchange-traded fund (ETF) issuers and President Trump’s administration, spurring hopes that increased institutional adoption could help stabilize volatility. 

The iShares Bitcoin Trust ETF is currently trading more than 20% below its recent 52-week high, which was reached less than a month ago. This peak coincided with the formation of a bearish evening star pattern, and the ETF experienced a notable decline of 3% on October 7. 

The drop below the $70 mark has added to the bearish sentiment, with the ETF declining in three of the last four weeks, closing within the lower half of its trading range. 

This week alone has seen an 8% drop, and the ETF recently undercut its 200-day simple moving average, marking a steep 5.5% decline—the largest single-day drop since April 7. 

For investors to regain confidence, analysts assert that it is crucial for the ETF to hold near current levels and reclaim the 21-day exponential moving average (EMA), a key indicator of bullish momentum. Historically, recoveries have taken about six sessions, as seen back in April.

Ethereum ETF Faces 17% Weekly Decline

Ethereum, represented through the Grayscale Ethereum Trust ETF, has experienced a more pronounced decline, now down 34% from its annual peak and showing a negative year-to-date performance of 5%. This week alone, the ETF has dropped 17%, roughly double the decline seen in the Bitcoin Trust ETF. 

However, the sharp pullback follows a significant increase of over 220% from early April to late August, making the current retreat appear both prudent and necessary. 

Notably, the fund has not yet pierced its 200-day simple moving average, having touched it recently while retesting a breakout above a bullish inverse head-and-shoulders pattern. 

The behavior of the ETF around this critical moving average in the coming week will be crucial; if stability can be achieved, it may present an attractive buying opportunity. After facing resistance at the $40 level on August 22, recent price action could be forming a double-bottom base, provided that the recent lows hold.

Heightened Concerns For Solana

Solana’s performance has been the most concerning, with its ETF plummeting 41% from its most recent 52-week high set in September. This heightened volatility may reflect the asset’s relative newness, as it began trading only in April. 

The Solana ETF peaked on September 18 and has since formed a bearish island reversal pattern. Over the past seven weeks, it has fallen in five of those, with three weeks recording double-digit declines. 

This week alone, the ETF has dropped another 19% through just two trading sessions. On the daily chart, a break below the bearish head-and-shoulders pivot at $19 raises concerns of a potential measured move down to $12.

Ultimately, the report suggests that a potential recovery for the trio would imply further inflows into these exchange-traded funds. This would also indicate a new wave of bullish sentiment returning to the market. 

At the time of writing, Bitcoin is trading at $104,190, marking a 3% surge over the past 24 hours. During the same time frame, ETH and SOL also recorded gains of 5% and 4%, respectively. 

Featured image from DALL-E, chart from TradingView.com 

On Tuesday, the Ethereum price fell by 8%, following the overall correction in the cryptocurrency market and even outperforming Bitcoin’s (BTC) dip. This has sparked concerns as ETH nears important support levels, putting its $3,000 mark at danger.

October Events Lead To Significant Corrections

Ram Ahluwalia, the chief investment officer at Lumida Wealth, recently noted that the roots of this latest crypto sell-off can be traced back to the Federal Reserve’s (Fed) October meeting. 

On October 29, the central bank announced its second interest-rate cut of the year. However, during the subsequent press conference, Fed Chair Jerome Powell expressed uncertainty about the possibility of another reduction in December. 

According to Ahluwalia’s analysis, this has been detrimental to Bitcoin and the overall crypto market, as lower interest rates typically bolster speculative assets like cryptocurrencies.

Adding to the ongoing Ethereum price correction, mid-October saw US President Donald Trump announce new tariffs on China due to its restrictions on rare earth exports. This announcement triggered a flight of investors from cryptocurrencies to safer assets such as gold. 

Ethereum Price Under Pressure

From a technical perspective, analysts at The Birb Nest have highlighted key levels to watch. On social media platform X (formerly Twitter), they noted that the Ethereum price broke below a critical weekly support level, which they interpret as a major deviation until price action proves otherwise. 

They highlighted that a breakdown below the altcoin’s yearly open of $3,337 might push the Ethereum price to $2,800. For a positive reversal, they believe ETH must retake $4,000 and close above this level on a weekly basis.

Additionally, the ETH/BTC pairing is under scrutiny, with prices trading below the yearly open at 0.0355. To target a rise towards 0.04, reclaiming this level is essential. Until then, analysts are watching for potential retests around 0.0325–0.03.

However, some experts, such as Ali Martinez, caution against overly optimistic projections. He warns of a worst-case scenario in which the Ethereum price fails to reclaim the $4,000 mark, and potentially drops to as low as $2,400 or even $1,700.

A decline of this magnitude would mean an additional 45% increase for ETH, which could also lead to a deeper correction in the broader altcoin market. 

As of this writing, ETH is trading at $3,100. This represents a significant gap of 32% between the current trading prices and the all-time highs, which could not be re-tested before the end of the year unless a new recovery occurs before the weekly close. 

Featured image from DALL-E, chart from TradingView.com

On Tuesday, the Bitcoin price briefly dipped below the significant $100,000 threshold for the first time since June. Market expert Lark Davis summarized the facts behind the ongoing sell-off on the social media platform X (formerly Twitter), describing the situation as “absolutely relentless.” 

Bitcoin Price Set For Deeper Correction 

Davis highlighted a range of factors contributing to the Bitcoin price downturn, including selling activity from exchange-traded funds (ETFs), and large-scale investors known as whales. He suggested that fear among investors is reaching a peak, indicating a phase of significant capitulation.

Amid these developments, reports have emerged that the Bitcoin price is undergoing an Elliott Wave Correction. Analysts suggest that Wave (5) appears to be complete, and Wave (B) might have reached its peak. 

This could set the stage for a deeper Wave (C) correction, potentially bringing the price down to the $70,000 to $75,000 range. This would mean an additional 30% decline ahead for the market’s leading crypto. 

The unfolding Elliott Wave A-B-C structure indicates that there is strong support for the Bitcoin price in the “green box” seen in the chart above, which could serve as a potential reversal zone. However, the analyst caution that a substantial rally may follow the completion of the Wave (C) correction.

Altcoins At Risk

Further complicating the outlook, market analyst Ted Pillows emphasized that merely conducting quantitative tightening (QT) would not suffice to stabilize the market. 

Referring to historical data from the third quarter of 2019, when the Federal Reserve (Fed) halted QT, Pillows noted that altcoins dropped significantly—by 40%—and did not find a bottom until the Fed initiated quantitative easing (QE).

He warned that the current situation would likely mirror that past experience, stating that unless new liquidity enters the market, alts will continue to set new lows. While a few may outperform, the majority are expected to decline further.

As of writing, the Bitcoin price had recovered the $100,900 mark. However, losses of 6% and 12% were recorded in the last 24 hours and over the past seven days, respectively. 

Featured image from DALL-E, chart from TradingView.com 

As the new month began, the Bitcoin price opened on a downward trend, slipping below its consolidation range amid rising uncertainty and bearish sentiment in the market. Nevertheless, analysts are identifying a collection of indicators suggesting that a bullish resurgence for the cryptocurrency could be on the horizon.

What’s Fueling BTC’s Potential Surge This November?

According to experts at The Bull Theory, November is poised to be the most bullish month of the year for Bitcoin, and the supporting numbers are quite compelling. Historically, November has been one of the strongest months not only for US equities but also for the Bitcoin price. 

For stocks, it consistently ranks as a top-performing month, while Bitcoin has historically recorded some of its most significant rallies during this time, averaging gains between 40% and 42%. What sets this November apart, however, are the underlying factors at play.

One of the primary catalysts identified by the analysts is the anticipated end of the US government shutdown, which is expected to conclude this month. While this may seem like a political issue, its financial implications are substantial. 

They assert that the resumption of government spending means “billions of dollars” will start flowing back into contractors, projects, and public sectors. This return to fiscal spending acts as a mini liquidity injection into the economy. 

Historically, such movements of money have had a positive effect on risk assets, including equities and cryptocurrencies, as capital begins to rotate from the real economy into the financial system.

Another significant factor is the planned ramp-up of corporate buybacks. Within the next few weeks, many major companies are expected to restart their buyback programs. 

This creates new demand in equities at a time when liquidity is improving, which historically has pushed stock indices higher. Given that cryptocurrencies often track global liquidity cycles, this corporate-driven demand could similarly benefit the crypto market.

Bitcoin Price To Reach $160,000?

Additionally, the Federal Reserve (Fed) has quietly re-entered the scene, as evidenced by a spike in daily overnight repo loans, which reached $29.4 billion—the highest level in nearly five years. 

This significant borrowing indicates that banks are short on dollars and are relying heavily on the Fed. Such activity typically signals stress in the short-term funding market. 

Historically, when repo activity surges, the Fed tends to inject liquidity to stabilize the situation. This influx of capital does not remain isolated within the banking system; it tends to flow through markets, lifting equities and eventually benefiting cryptocurrencies once confidence is restored.

Moreover, the US Treasury’s General Account (TGA) balance has surged close to $1 trillion, sitting approximately $150 to $200 billion above normal levels. This capital is currently idle, but once government spending resumes following the shutdown, it is likely to begin circulating again. 

If the Bitcoin price performance this November mirrors its historical averages, the analysts anticipate a potential rally of around 40%. Such an increase could see the Bitcoin price reaching the $150,000 to $160,000 range. 

Featured image from DALL-E, chart from TradingView.com 

November has kicked off on a negative note for crypto prices, with Bitcoin (BTC) briefly dipping toward $105,000 on Monday. This decline has sparked a renewed sense of bearish sentiment among investors, and experts caution that conditions could worsen in the coming days.

November Deadline Approaches

Market expert CryptoBirb recently expressed concerns on social media platform X (formerly Twitter), noting that the market is already ten days into a bearish cycle. According to CryptoBirb, diving into on-chain data, the more alarming the picture appears.

CryptoBirb’s analysis begins with cycle peak data: it has been 1,078 days since the low in November 2022, which is 101.2% of the crypto cycle complete. Additionally, it has been 563 days since the last Halving, with 45 days remaining within the typical 518 to 580-day peak range. 

Alarmingly, the anticipated rally leading to this peak has not materialized, and there are only 17 days left before the window for a peak closes on November 20. Missed breakouts during this time frame have signaled the end of previous bullish cycles.

When comparing the current situation to the 2017 cycle, it is noted that Bitcoin reached its peak on December 17, 2017, 1,068 days after its low. With BTC now 1,078 days into the current cycle, the chances of a late top are diminishing with each passing day that the cryptocurrency remains below $113,000. 

From a performance standpoint, Bitcoin is down 16% from its all-time high of $126,200 and has only gained 8.2% year-to-date. The market’s leading crypto has faced repeated rejections near the $113,000 to $114,000 range and is currently trading below the 200-day simple moving average (SMA) of $109,882. 

Historically, November typically sees an average gain of 17.5%, with positive performance in 10 out of the last 15 years. However, the expert points that when November begins in the red, it often indicates that the cycle is already shifting.

Potential Bullish Factors Amid Ongoing Crypto Concerns

Adding to this bearish sentiment, DeFi researcher DeFiIgnas has outlined several factors complicating the crypto market’s trajectory. These include what he calls “the speculative nature of the artificial intelligence (AI) bubble,” the failure of bullish news to invigorate crypto prices, uncertainty surrounding entities that collapsed after the October 10 crash, and the cyclical nature of the market. 

Additionally, the selling activity from long-term holders and negative crypto exchange-traded funds (ETF) flows contribute to the prevailing concerns.

Despite these challenges, DeFiIgnas also identified some potential bullish factors that could foster recovery instead of further declines. 

These include easing liquidity and interest rate cuts by the Federal Reserve (Fed), a lack of euphoria in the crypto space, slow but steady institutional adoption, and the potential passage of a US crypto market structure bill. 

Historically strong performance in the fourth quarter, stablecoin supply at all-time highs, and a recent US trade deal with China could also provide a counterbalance to the prevailing bearish sentiment.

Featured image from DALL-E, chart from TradingView.com