Bitcoin traded around $83,000 but rapidly slid below the $82,000 key support on the 30th, erasing roughly $3,000 from intraday highs. The move reflected a confluence of US tech weakness and heightened macro and geopolitical tensions, including potential federal shutdown and escalating US-Iran tensions. Panic selling and automatic liquidations accelerated the downside, with CoinGlass recording about $770 million of long positions liquidated in one hour.
Ethereum mirrored the weakness, dipping under $2,800 and testing the risk zone near $2,750-$2,900. Analysts say the correction was driven more by derivatives deleveraging than spot selling. CryptoQuant data show ETH open interest sliding from roughly $80 billion to $64 billion over two weeks, implying a rapid deleveraging process.
A break below $2,900 intensified downside pressure, as the 30-day moving average and 50% retracement were breached. On the plus side, Bitmain added about 60,000 ETH to staking, and the new ERC-8004 standard went live, signaling continued on-chain AI infrastructure development.
XRP remained range-bound around $1.76 after failing to hold a key support at $1.87, with the notable development that XRP’s spot ETF saw roughly $41 million in net outflows in the prior week—the first weekly outflow since listing. Assets under management slipped from about $16 billion to $13 billion. On-chain signals were mixed, with wallets holding 1 million+ XRP rising for the first time in months, suggesting whale accumulation amid the drawdown.
In the altcoin space, Worldcoin soared earlier on rumor-driven hype but then fell more than 17% in a single day; about $20 million worth of Worldcoin entered the market, lifting supply and prompting further selling. The near-term support sits around $0.47, with a watchful eye on actual business progress to sustain any sustained rally.
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