TL;DR:
- BTC holds above $102K with largely flat cryptocurrency markets.
- Recent liquidations and investor caution keep the market in a precarious position.
- Crypto ETFs and macroeconomic factors add uncertainty to market stability.
Bitcoin continues to show resilience, remaining above $102,000 despite a largely flat cryptocurrency market with a total capitalization of $3.48 trillion. BTC’s stability reflects investor caution, who remain reserved following recent sell-offs and price swings, highlighting the importance of key support levels for the cryptocurrency.
Markets Steady but Showing Mixed Signals
The market shows flat activity with minimal altcoin fluctuations, where Ethereum trades around $3,300 with weekly losses of 12%, while Dogecoin and Cardano fall 3%. According to Glassnode, Bitcoin has stabilized near $100,000 after losing key cost levels, reflecting weak demand and long-term holder selling. The market sits in a precarious, cautious, and oversold position, but without deep capitulation.
Coinbase Institutional analysts suggest recent liquidations could precede future strength rather than weakness. October saw a $20 billion liquidation event, and while full stabilization may take months, a gradual recovery is expected rather than an explosive push toward all-time highs.
Notable movements include gains in Internet Computer and Zcash, up 32% and 12% respectively, while Pumpfun, Mantle, and Hyperliquid fall between 5% and 7%. Twenty-four-hour liquidations reached $327 million, with Ethereum leading at $92.9 million and Bitcoin at $65.5 million.
Crypto ETFs continue to show net outflows, with Ethereum at $118.6 million and Bitcoin at $137 million, reflecting institutional caution. On the macroeconomic side, U.S. service activity hit an eight-month high in October, though the prolonged government shutdown could trim 1-2 percentage points from Q4 GDP.
