Bitcoin Faces Headwinds as Ethereum and XRP Show Bullish Momentum Amidst Mixed Crypto Market Signals
Bitcoin Faces Headwinds as Ethereum and XRP Show Bullish Momentum Amidst Mixed Crypto Market Signals
The cryptocurrency market presented a mixed picture, with Bitcoin facing several challenges. The leading digital asset fell to new weekly lows, dropping to $101,300, and its market dominance experienced a dip. Experts cautioned against expecting an automatic price boom following the US government shutdown, suggesting a shift in investor sentiment towards traditional assets.
Conversely, other major cryptocurrencies showed optimistic signs. Ethereum (ETH) was reportedly on the verge of a significant breakout, with price analyses pointing to a potential rally towards $4,400. XRP also garnered positive attention, as analysts maintained ambitious price targets ranging from $10 to $30, fueled by bullish continuations.
In other market developments, Franklin Templeton expanded its tokenization platform, Coinbase announced incorporation in Texas, and a report highlighted blockchains capable of freezing user funds, raising questions about decentralization. The general crypto market also saw its yield gap with traditional finance narrowing due to the surge in staking and Real-World Assets (RWAs), bolstered by legislative approvals.
Bitcoin fell to new weekly lows at $101,300 as US equities and gold rallied ahead of the key vote to end the US government shutdown, signaling a shift in investor sentiment toward traditional assets.
Franklin Templeton has linked its Benji tokenization platform to the Canton Network, expanding institutional access to regulated onchain assets.
Michael Saylor’s company remains a top Bitcoin holder, but its dominance has fallen amid slower accumulation and rising competition.
The end of Trump's last US government shutdown back in 2019 saw a boom in crypto markets, but things are a bit different this time around.
The US-based cryptocurrency exchange has not had a brick-and-mortar headquarters amid adopting its “remote-first” policy, but maintains offices in San Francisco and New York City.
Ethereum neared a falling wedge breakout, eyeing a potential rally toward $4,400 by mid-December if the bullish setup is confirmed.
Stablecoins, staking tokens and RWAs are bridging crypto’s yield-generation gap, bolstered by the historic approval of the US GENIUS Act in July.
XRP analysts are still confident of a bullish continuation with targets from $10 to $30 for cycle tops, fuelled by multiple tailwinds.
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After analyzing 166 blockchains, Bybit’s Lazarus Security Lab found 16 networks that can freeze or restrict user funds, raising questions about decentralization.