On Friday, Bitcoin's value tumbled below $92,000,
sparking a massive wave of selling
throughout the crypto sector and wiping out close to $1 trillion in market capitalization since its high point in October. This steep drop, among the most significant single-day declines in recent weeks,
has pulled down leading altcoins
such as
Solana
,
XRP
, and
Cardano
into double-digit percentage losses over the week.
Experts caution
that if panic selling intensifies, prices could slide further into the $80,000–$86,000 range.
This downturn coincides with changing expectations regarding the Federal Reserve's monetary policy.
Market participants now estimate
a 51% probability of a rate cut in December, down from 63% earlier in the week, after Fed officials expressed concerns about inflation. This ambiguity
has sent shockwaves through global markets
, with Asian stock indices like Japan’s Nikkei and South Korea’s KOSPI also experiencing steep declines alongside
Bitcoin
. The crypto market's struggles are
intensified by regulatory pressures
in Japan and continued instability in derivatives trading, where open interest remains below the $12 billion peak reached in October.
Amid this volatility
, XRP’s 14% drop over the past week has led to speculation about a possible recovery. New spot XRP ETFs from major players such as Grayscale and Franklin Templeton may draw institutional investment, with one analyst
predicting a surge
to $2.75. Still,
short-term pessimism remains
, as large holders have sold 200 million XRP within the first two days of ETF trading, putting downward pressure on prices.
The overall cryptocurrency market has
now lost $1 trillion
since reaching its all-time high of $3.2 trillion in October.
FxPro’s Alex Kuptsikevich
observed that the market has entered a bearish phase, and if historical trends from the stock market repeat, another 20% drop—or an additional $1 trillion loss—could occur.
Arthur Azizov from B2 Ventures
pointed out that the $89,000–$94,000 range is a key support level, warning that a break below this could push Bitcoin back to prices last seen in April 2025.
Regulatory developments and broader economic factors continue to shape investor attitudes. The Federal Reserve’s recent hawkish tone has reduced risk-taking, while
Japan’s possible clampdown
on crypto treasury firms has further increased uncertainty. At the same time, with little major economic data coming out of the U.S.,
traders are left without strong guidance
for their next moves.