The current crypto landscape is a bit of a mess. Established coins like Bitcoin (BTC) and Ethereum (ETH) are falling and cannot seem to stem the losses.
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Bitcoin
1.01%
Bitcoin
BTC
Price
$85,670.98
1.01% /24h
Volume in 24 hours
$36.84 billion
Price 7d
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fell to $83,540 before changing course and breaking through the $84,000 level, then finally retesting the $85,000 level, where it is currently trading. However, it is still down 11% on the weekly charts.
For the most part, it appears that weakness in the labor market, coupled with dovish comments from New York Fed President John Williams, has encouraged buying at lower levels.
$BTC break through these two notable near-term resistance marks, and we can see up to $93,000…
Pureed bulls. pic.twitter.com/FmgW2ddn3i
– Heisenberg (@Mr_Derivatives) November 23, 2025
Meanwhile, the probability of a Fed rate cut has jumped to more than 70%, up from nearly 40% just days ago, prompting traders to turn to riskier assets such as crypto.
(Source: FedWatch)
However, a look at US BTC spot ETFs puts the data into perspective. According to data from SoSoValue, US BTC spot ETFs have lost more than $3 billion over the past month, with weekly outflows amounting to around $1.5 billion. The only positive side is that daily receipts are still positive at $238 million, a drop in the ocean.
(Source: SoSoValue)
Currently, BTC is trading below its 20-day and 50-day EMAs. For BTC to reverse its price action, it needs to reclaim these two EMAs at $86,281 and $90,322 before it can retest its 100-day EMA at $95,075, which incidentally is also the upper resistance level.
(Source: TradingView)
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ETH Crypto Consolidates Above $2.7K and Retests the $2.8K Level Today
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Ethereum
0.39%
Ethereum
ETH
Price
$2,799.23
0.39% /24h
Volume in 24 hours
$14.96 billion
Price 7d
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has been experiencing difficulties for several days. For a very long time, it managed to hold above the $3,100 level. Alas, this was not to be the case. Although ETH followed BTC during the broader market downturn, its decline was moderate and less dramatic.
Its price action took a decisive plunge and broke through the $3,000 support level before breaking through further support zones, falling to $2,680 before finally settling above the $2,700 level, where it had been consolidating for the past few days.
For ETH to start rising again, it needs to hold above $2,800. It is currently poised to retest its 20-day EMA at $2,823. However, the critical level to capture is the 50-day EMA near $3,000, which is also the resistance level to beat.
(Source: TradingView)
On-chain data analysis reveals heavy liquidation clusters surrounding its price action between $3,100 and $3,600, acting as major resistance zones.
(Source: CoinGlass)
At the same time, online sleuths think it’s a good time to get in on the action and buy on the dips before prices turn around again. Its upgrade to Fusaka is scheduled for December, and with prices as low as they are, it might be good to go for a long time.
#ETH: Great potential. Buy the dip.
Big upgrade coming (last price pumped 50%). The correction is local, we do not expect a big drop.
Possible bottom between $2,600 and $2,700, otherwise the trend breaks. Most weak hands are eliminated. Good time to buy.
Waiting for a new ATH, targeting $5,000 for profit taking. pic.twitter.com/zei8mEBCZu
-Matt Wraith | AI and development (@MattWraithSOL) November 23, 2025
However, everything depends on ETH maintaining the $2,700 level. A decline to $2,700 will test lower support zones near $2,300 to $2,400.
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Institutions are buying ETH dip
By
Retail is crying in a corner, while institutions are buying the dip, sucking up as many coins as possible until the recession lasts.
Bimine, for example, has recovered $21,537ETH ($59.17 million) from FalconX
Tom Lee(@fundstrat) #Bitmin always buy $ETH.
A new wallet 0x5664 — probably related to #Bitmin — just received 21,537 $ETH($59.17 million) #FalconX 8 hours ago. pic.twitter.com/FKivNNe0jM
– Lookonchain (@lookonchain) November 23, 2025
While this is a huge number, X Hawks pointed out that it only represents 0.018% of the total supply.
21,537 ETH seems huge…
until you realize that’s only 0.018% of the total supply.Small purchase on a giant ocean.
– Rekt Specter (@rektspecter) November 23, 2025
Crypto ATM operator eyes $100 million sale after founder’s money laundering accusations
By
Crypto ATM operators Crypto Dispensers are considering selling their business for around $100 million, and the timing of the move is raising eyebrows across the cryptosphere.
Days earlier, the company’s founder and CEO, Firas Isa, was indicted by the U.S. Department of Justice (DOJ) on one count of conspiracy to commit money laundering to the tune of $10 million.
NEW:
Chicago cryptocurrency distributors, fresh off the money laundering wave, are eyeing a $100 million exit. Talk about flipping the script from legal issues to a large cash withdrawal.
Source:
— Web Weavers
NEW:
(@WebWeaversHub) Crypto Dispensers did not mention any legal drama as part of its decision to sell its business.
This, however, highlighted larger issues such as increased fraud, stricter regulations, and the fact that people don’t actually use these machines more than once or twice.
Chainlink Core Infra for tokenized finance: grayscale
By
Grayscale called Chainlink indispensable for tokenized finance, arguing that its decentralized oracle network is uncontested when it comes to connecting real-world data to blockchain systems.
According to new research from Grayscale, with more and more traditional assets such as stocks, bonds, and real estate moving to tokenization, Chainlink’s trusted data feeds are becoming even more important.
Grayscale Research Team Members Suddenly Retweet @ChainLinkGod. Today they shared one of the best recent research papers on $LINKessentially calling it the best investment linked to the rise of symbolic finance.
It’s not random. The clock is currently ticking towards… pic.twitter.com/ZlpAEaI5dV
– Moeskul (@Xmarine777) November 20, 2025
Over the years, Chainlink has gradually become a staple of institutions such as SWIFT, DTCC and ANZ Bank for proof of reserves, moving assets between chains and automating settlements.
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The post What’s Happening in Crypto Today: BTC Retests $85K, ETH Consolidates Above $2.7K appeared first on 99Bitcoins.
