Bitcoin fell nearly 4% on Thursday to $81,000 despite strengthening institutional interest.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $81,191.86 |
| Ethereum | (CRYPTO: ETH) | $2,378.23 |
| Solana | (CRYPTO: SOL) | $103.71 |
| XRP | (CRYPTO: XRP) | $1.31 |
| Dogecoin | (CRYPTO: DOGE) | $0.07843 |
| Shiba Inu | (CRYPTO: SHIB) | $0.05497 |
Notable Statistics:
- Coinglass data shows 102,764 traders were liquidated in the past 24 hours for $454.81 million.
- SoSoValue data shows net inflows of $528.4 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $14.96 million.
- In the past 24 hours, top gainers include Bitway, MemeCore and Akedo.
Notable Developments:
- Bitcoin Faces the ‘Curse of the 21st’: Is Another November Low Ahead?
- ‘Cash Is A Melting Ice Cube,’ Says Industry Executive as Bitcoin Adoption Poised to Surge
- Bitcoin’s Boring Moves Are ‘Actually Quite Healthy,’ Says Analyst Eyeing $275,000 Target
- Bitcoin ‘Goes to Zero’ After a Hack, Chamath Palihapitiya Predicts
- Ripple, Cardano, Chainlink Push for Binding SEC Rules Around Tokens
- ‘Long Coins, Short Stocks’: Expert Bullish on Bitcoin, Cautious on XRP, Coinbase, Circle
- Ripple Sees a $100 Million Opportunity for Banks—What’s in It for XRP?
- XRP Falls 2%: Final Dip Before a Big Rally or the Beginning of a Selloff?
Trader Notes:
Benjamin Cowen warned in his podcast that Bitcoin could face another correction toward the low-to-mid $70,000 range after slipping below $82,000 and struggling to reclaim $83,000.
Bitcoin’s failure to reclaim $83,000 could shift momentum back toward the bears, raising concerns that its recent breakout was a fake out.
Ethereum, major altcoin indices, Strategy and the Nasdaq have already tested their respective bull market support bands. Cowen believes Bitcoin could follow as equity markets weaken.
Historical patterns suggest Bitcoin could establish a local high between Oct. 21 and the Nov. 3 midterm elections, followed by renewed selling pressure if stocks continue declining.
Cowen outlined two potential scenarios a relatively short, shallow bear market or a prolonged downturn characterized by repeated false breakouts.
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