TL;DR:
Bitcoin continues to show resilience, remaining above $102,000 despite a largely flat cryptocurrency market with a total capitalization of $3.48 trillion. BTC’s stability reflects investor caution, who remain reserved following recent sell-offs and price swings, highlighting the importance of key support levels for the cryptocurrency.
The market shows flat activity with minimal altcoin fluctuations, where Ethereum trades around $3,300 with weekly losses of 12%, while Dogecoin and Cardano fall 3%. According to Glassnode, Bitcoin has stabilized near $100,000 after losing key cost levels, reflecting weak demand and long-term holder selling. The market sits in a precarious, cautious, and oversold position, but without deep capitulation.
Coinbase Institutional analysts suggest recent liquidations could precede future strength rather than weakness. October saw a $20 billion liquidation event, and while full stabilization may take months, a gradual recovery is expected rather than an explosive push toward all-time highs.
Notable movements include gains in Internet Computer and Zcash, up 32% and 12% respectively, while Pumpfun, Mantle, and Hyperliquid fall between 5% and 7%. Twenty-four-hour liquidations reached $327 million, with Ethereum leading at $92.9 million and Bitcoin at $65.5 million.
Crypto ETFs continue to show net outflows, with Ethereum at $118.6 million and Bitcoin at $137 million, reflecting institutional caution. On the macroeconomic side, U.S. service activity hit an eight-month high in October, though the prolonged government shutdown could trim 1-2 percentage points from Q4 GDP.
