Bitcoin Elliott Wave analysis [Video]

Ripple is trading down for the third consecutive day on Thursday amid escalating volatility in the cyrptocurrency market. After peaking at $2.41 on Tuesday, its highest print since November 14 amid the early-year rally, XRP has quickly ran into aggressive profit-taking.

Zcash (ZEC) is trading down as volatility reaps through the cryptocurrency market on Thursday. The privacy-focused token is down nearly 14%, marking the largest intraday loss since December 1.

Bitcoin is trading around $90,000 at the time of writing on Thursday as volatility grips the broader cryptocurrency market. Altcoins, including Ethereum and Ripple, also face increasing selling pressure, which continues to trim early-year gains.

Bitcoin (BTC) slips below $90,000 on Thursday after a failed rejection at a key resistance level earlier this week. Bearish sentiment is strengthening as institutional demand fades, with spot Bitcoin Exchange-Traded Funds (ETFs) recording outflows.

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Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.