BTC/USD – Strategic sell idea [Video]
![BTC/USD – Strategic sell idea [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Digital Currencies/Bitcoin/Bitcoin_Dollar.jpg)
Breakout of the rising channel and change in trend dynamic from bullish to bearish.
Author
Petar Jaćimović
FXCentrum
Petar Jaćimović was born on 8 July 1989 in Jagodina, Serbia.
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Hyperliquid dropped 8% on Friday after Hyperliquid Strategies filed an application to become a futures commission merchant, seeking regulatory approval to bring perpetual futures markets to US customers. The company disclosed the development in its Q3 financial results released Thursday.
Bitcoin, Ethereum, and Ripple face renewed selling pressure in the second half of this week amid concerns that Democrats' control of both chambers of the US Congress could lead to tighter crypto and Artificial Intelligence regulations.
Zcash shows resilience above $1,300 on Friday, defying the broader cryptocurrency market sell-off, which saw over $1 billion in liquidations the previous day. This strength aligns with Network Upgrade 7, scheduled for Friday, which enables faster payments and disables older transaction pools.
Ethereum (ETH) falls 7% to $2,230 on Thursday as AI stock sell-offs spilled into the crypto market. The top altcoin's decline wiped out all of Wednesday's post-US midterm gains, triggering $181.8 million in ETH liquidations over the past 24 hours. Long liquidations dominated, totaling $149.7 million, according to Coinglass data.
Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.