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The crypto market set another trap for the bulls yesterday afternoon, jumping to $3 trillion and then falling back to $2.85 trillion. However, on Friday morning, it flirted with buyers again, trading at the same level of $2.95T, where it has remained since the start of the week.
On Thursday, Wednesday’s microdrama was replayed, soaring towards $90,000, only to soon fall below its previous local lows. As a result, by the end of the day, the intraday low had fallen back to $84,000, which we last saw almost five weeks ago. However, on Friday morning, the price returned to the $87,000 level, around which it has been trading for four days.
Although Bitcoin buyers are stopping very sharp declines, other top altcoins are gradually declining. It appears that large holders have been quietly exiting over the past three to five months. This is clearly visible in , , and . , traditionally, soars on signs of a reversal in larger coins, but then falls just as spectacularly.
News context
The options market is hedging against the risk of Bitcoin falling below $85,000, according to Derive.xyz. Market participants anticipate an increase in volatility at the end of the year. The situation is exacerbated by volatile inflows into ETFs and lower liquidity as the holidays approach.
BTC’s growth is also being hampered by investor doubts about the return on investment of the US artificial intelligence (AI) sector, amid a liquidity shortage. Bitcoin’s correlation with the Nasdaq has strengthened due to the influx of large investors.
BitcoinForCorporations predicts an outflow of up to $15 billion from DAT companies accumulating cryptocurrencies if MSCI decides to exclude them from its indexes. Eighteen companies risk being excluded.
In 2025, Bitcoin’s volatility was lower than that of stocks, according to Bitwise. The emergence of spot ETFs and other traditional instruments has led to a “fundamental de-risking” of the asset.
The increase in the number of users and the expansion of the gas limit have led to “inflation” of the Ethereum blockchain, which negatively affects the operation of nodes, the Ethereum Foundation (EF) team warned, proposing several possible solutions. Ethereum co-founder Vitalik Buterin has called for Ethereum to be simplified. According to him, the complexity of using the ecosystem of the second largest cryptocurrency in terms of capitalization hinders its mass adoption.
The FxPro analyst team
