Cryptocurrencies from the top 10 fall in price amid bitcoin growth

Bitcoin BTC $89,727.39 Mezo Wrapped BTC -1.92% Market capitalization $40.56 million VOL. 24 hours $1.62 billion continues to trade in a narrow range, remaining below the key level of $ 93,000. On Friday, its price hovered around $ 92,000 after another unsuccessful attempt to break out. The market remains in a state of equilibrium between buyers and sellers: the former are actively supporting the asset near $ 91,000, while the latter are steadily recording profits in the region of $ 93,000-$ 93,500. This structure, which has been observed since the end of November, indicates the absence of a clear trend and a weak trading momentum.

The monthly chart shows that BTC is still in a downward formation formed after the peaks of early November. Each new rebound ends with lower local highs, which maintains the corrective trend. According to technical levels, a break below $ 91,000 could open the way to support in the $ 90,000-$ 90,500 zone, while bulls need to return the price above $ 93,200 to confirm the market reversal.

Among the major crypto assets, the dynamics remained mixed. Ethereum ETH $3,018.49 Bridged Ether (StarkGate) -3.10% Market capitalization $71.83 million VOL. 24 hours $1.3 billion continued to lead the way, rising by more than 5% over the week and trading at around $ 3,150. At the same time, Solana SOL $133.16 Binance-Peg SOL -2.80% Market capitalization $0.15 billion VOL. 24 hours $0.34 billion dropped by 4%, XRP XRP $2.03 XRP -1.83% Market capitalization $122.67 billion VOL. 24 hours $0.17 billion - by almost 5%, and Cardano ADA $0.41 Cardano -3.76% Market capitalization $15.2 billion VOL. 24 hours $33.07 million lost about 2%. The total capitalization of the crypto market grew by 1% per day and reached $ 3.2 trillion, reflecting a gradual recovery after a seven-week decline. Data on ETF flows show a significant capital outflow: bitcoin funds recorded an outflow of $ 14.9 million, while ether funds received $ 140.2 million in inflows.

Amid increased volatility, about $ 45 million of long and $ 50.7 million of short positions on BTC were liquidated over the past day. For ETH, this figure was higher, with more than $ 103 million in short position liquidations, indicating that traders' bets on a decline were unsuccessful. At the same time, US macroeconomic data added to the uncertainty: the number of jobs according to the ADP report fell by 32,000 in November, which is much worse than expected, and the probability of an interest rate cut in December is close to 90%, according to market estimates.

FxPro analyst Alex Kupcikiewicz noted that BTC’s short-term attempt to test the $ 94,000 level met with «moderate resistance» from sellers and that a more serious struggle could begin only near $ 98,000-$ 100,000. Bitunix adds that the market has entered a «composite phase» of expectations of a macroeconomic reversal and internal capital rotation between assets. According to their forecasts, this structure will continue until bitcoin leaves the range of $ 90,500-$ 93,000.

Institutional events this week partially supported investor sentiment. Vanguard opened access to crypto ETF trading for its clients, and Bank of America recommended that institutional investors allocate 1−4% of their portfolios to digital assets. In addition, the CME launched a new expected volatility index for bitcoin futures similar to the VIX, and plans to add versions for Ethereum, Solana, and XRP later.