Bitcoin is trading in a bull trend above its main daily simple moving averages. The next resistance to break is likely at 9,688.00 and then at 10,000.00. Support is at the 9,000.00 level and 8500.00 level.
Author
Flavio Tosti
Independent Analyst
Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.
Ethereum had one of its sharpest historic declines over the past 10 days, shedding 40% of its value and briefly sliding below $2,000. The dip also saw ETH move below its realized price, or the average cost basis of investors — an occurrence that has historically accelerated selling pressure as investors cut losses.
The crypto market crash since October isn't down to a single factor but a combination of several, according to Bitwise CIO Matt Hougan. In a note to investors on Friday, Hougan outlined six key factors that potentially contributed to the crash that pushed down nearly every top crypto by more than 50% from prices seen over four months ago.
Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.
Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.
Bitcoin (BTC) price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%.