John O'Donnell Sits in for Merlin. He discusses the global credit purge cycle within the Online Trading Academy core strategy. Learn how to prosper in the months and years ahead in the global capital markets deflationary trends.
Author
Merlin Rothfeld
Online Trading Academy
Merlin Rothfeld has been actively involved in the financial markets since 1996.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.
Bitcoin recovers slightly, trading at $66,000 on Friday after reaching a new yearly low of $58,115 earlier this week, its lowest level since October 2024. Institutional selling intensified as spot ETFs recorded $1.35 billion in net outflows through Thursday.
Ripple trades near the key psychological support level of $1 at the time of writing on Friday after losing more than 8% so far this week. CoinGlass liquidation data shows that over 97% XRP long positions were wiped out over the past 24 hours.
Pi Network price records a mild 3% recovery at press time on Friday, shaping a rebound from a broken descending trendline. The declining trend in trading volume has stabilized around $10 million this week, supporting the possibility of an extended recovery as selling pressure wanes.
