21Shares Sparks 20-Day Countdown with New Filing for Spot XRP ETF

**21Shares Files for Spot XRP ETF: What It Means, Why It Matters, and What Comes Next**

Big news hit the XRP community this week: 21Shares, the Swiss-based asset manager, filed a key amendment for its spot XRP ETF. While this might sound like routine paperwork, it could be a game-changer for how altcoins reach U.S. investors.

Let’s break down what happened, why it matters, and what could come next.

### Key Takeaways

– **21Shares’ new filing starts a 20-day clock. If the SEC stays silent, the ETF could become effective around November 27, 2025.**
– **XRP surged nearly 5% immediately after the filing, as traders bet on potential U.S. approval of the ETF.**
– **This legal move might fundamentally shift the race between crypto issuers, regulators, and the market for altcoin exposure.**

## What Section 8(a) Actually Does

When a company submits an 8(a) amendment, the Securities and Exchange Commission (SEC) gets 20 days to respond. The agency can choose to comment, delay, or simply do nothing. If it stays silent, the registration becomes effective automatically.

This is why the new filing matters: it shortens what’s often a long, open-ended review. Instead of waiting months for word, 21Shares is forcing a clear timeline. After previously filing for a spot XRP ETF earlier this year—and seeing no movement while the SEC focused on Bitcoin and Ethereum products—the company’s new move says: “We’re ready. Your move.”

## A Tactical Decision

Analysts say the timing of this filing is deliberate. It arrived on November 7, just days after renewed optimism about altcoin-based ETFs. Bitcoin and Ethereum ETF approvals have already paved the way, and major asset managers are now testing whether those precedents can extend to other tokens.

If the SEC lets the 20-day window expire, without comment or delay, 21Shares’ ETF could become the first regulated spot XRP fund available to U.S. investors—a historic shift, even as XRP’s legal status continues to be debated in court.

## Ripple Effects in the Market

### XRP’s Instant Reaction

Within an hour of the filing’s appearance in the SEC database, XRP spiked almost 5%, jumping from around $2.20 to $2.32. Volumes soared on Binance, Coinbase, and Bybit as speculators piled in. Derivatives desks also saw a burst of new long positions, showing that the market views this filing as more than a formality.

Some analysts called it a “signal flare” moment for XRP—a sign that institutional investors are warming up to the token, after years of skepticism.

### Investor Sentiment Turns Cautiously Optimistic

The boost isn’t just about price. For years, XRP has occupied an odd middle ground: large enough to matter, but too controversial to touch. This new ETF filing supports the idea of tokens not simply as speculative assets, but as infrastructure for payments and liquidity. If that narrative catches on, the ETF could attract traders who previously dismissed XRP as a relic of early crypto.

## The Broader ETF Landscape

### Where 21Shares Fits In

21Shares is no stranger to the ETF race. With a suite of European crypto ETPs and U.S. applications in partnership with ARK Invest, the firm has proved it’s willing to challenge U.S. regulatory boundaries—even at the risk of rejection.

Competitors like Franklin Templeton and Grayscale have hinted at their own XRP strategies, closely watching the outcome. If 21Shares leads the way, it could set the standard for how future altcoin ETFs are structured, from custody arrangements to redemption models.

### Potential Custodians and Market Depth

While the filing doesn’t specify a custodian, industry insiders point to Coinbase Custody or Anchorage Digital—both already approved for Bitcoin and Ethereum ETFs.

Liquidity is not a concern. XRP routinely ranks among the top-five most-traded cryptos by daily volume, often surpassing $2 billion. However, ETF success will also rely on seamless share creation/redemption for authorized participants and strong investor trust in the fund’s transparency once trading begins.

## Unanswered Questions and Regulatory Uncertainty

No one can say for sure if the SEC will intervene. The agency could pause the countdown with a simple letter requesting revisions—similar to what it’s done with Bitcoin ETFs. But if it remains silent, the XRP ETF could slip through by procedural default, shaking up assumptions that only Bitcoin and Ethereum “deserve” spot treatment.

Some see this moment as a bold stress test of regulatory boundaries. Others view it as a strategic push to advance the market conversation, even if approval doesn’t happen right away.

Either way, the next few weeks will be crucial. They could define whether XRP graduates from a long-debated token into a regulated, exchange-traded asset that institutions can finally hold.

**Read More:**
– [21 ETP: Unlocking Institutional Access to On-Chain Derivatives](#)
– [Bitcoin and Gold ETFs Shock Wall Street With Rare Top 10 Trading Surge](#)

**Stay tuned for updates as the SEC’s countdown progresses. The XRP ETF is now in play—and the entire altcoin market could be watching what happens next.**
https://bitcoinethereumnews.com/tech/21shares-sparks-20-day-countdown-with-new-filing-for-spot-xrp-etf-3/

CZ Takes Aim At Peter Schiff, Questions Gold’s Verifiability Amid Fort Knox Audit Concerns

**Binance Founder Changpeng Zhao (CZ) Sparks Debate on Gold vs Bitcoin, Takes a Dig at Peter Schiff**

Binance founder Changpeng Zhao, popularly known as CZ, has once again ignited discussion on X regarding the ongoing debate between gold and Bitcoin. This time, CZ took a sharp dig at critic Peter Schiff by highlighting one of gold’s key limitations compared to digital assets: its verifiability.

### CZ Sparks the Fort Knox Discussion

The debate comes amid growing curiosity over the long-delayed audit of Fort Knox’s gold reserves. A user on X recently asked, “What ever happened to the audit at Fort Knox?” To this, CZ responded bluntly, “Gold is difficult to verify.” He also referenced Peter Schiff, a well-known gold proponent who frequently criticizes Bitcoin, dismissing it as “a speculative asset with no intrinsic value.”

For context, the United States Treasury reportedly holds approximately 261.5 million troy ounces of gold, with about 147.3 million ounces stored at Fort Knox. Reports suggest that the last full audit of these reserves took place decades ago, fueling calls for greater transparency.

### Verifying Crypto vs Gold

CZ’s remarks underscore the comparative advantage cryptocurrencies have over gold in terms of verifiability and transparency. Unlike gold, verification of reserves is neither real-time nor public. Access to gold stores is limited, audits are infrequent, and records lack full transparency.

In contrast, cryptocurrencies operate on blockchain technology, which ensures a fully transparent and real-time record of every transaction. This highlights how gold’s verifiability is inherently limited compared to the open and traceable nature of digital assets.

### The Tokenized Gold Debate

Recently, Peter Schiff announced plans to launch a tokenized gold product, arguing that gold is ideal to be put on a blockchain because it could deliver benefits that Bitcoin promises but cannot.

However, CZ quickly pushed back on this concept, stating that tokenized gold is not truly “on-chain.” Instead, it depends on trusting a third party to hold and deliver the physical gold. He further warned that external factors such as management changes, operational delays, geopolitical crises, or even war could impact these holdings.

### CZ’s Perspective on Gold’s Practicality

CZ has also previously expressed that while gold holds value, it is not practical for everyday use. This emphasizes that although gold has long been considered a trusted store of value, its verification and transparency fall short compared to modern digital assets.

In summary, the ongoing gold versus Bitcoin debate highlights the growing importance of transparency and verifiability in asset ownership. CZ’s comments serve as a reminder that while gold holds historical significance, digital assets backed by blockchain technology offer a new standard of openness that traditional assets struggle to match.
https://coinpedia.org/news/cz-takes-aim-at-peter-schiff-questions-golds-verifiability-amid-fort-knox-audit-concerns/

Bitcoin, Ethereum ETFs Shed $2.6 Billion in Assets Over the Past Week

Investors have cashed out a combined $2.6 billion from U.S. Bitcoin and Ethereum exchange-traded funds (ETFs) over the past week, marking one of the largest redemption periods in the funds’ history. Since October 29, more than $1.9 billion has left Bitcoin funds, while $718.9 million has been pulled out of their Ethereum counterparts, according to data from Farside Investors. These significant outflows have contributed to downward pressure on the two largest cryptocurrencies by market value.

On Tuesday, Bitcoin dropped below $100,000 for the first time since May. BTC was recently trading at slightly over $103,428, up 2.6% on the day but still about 18% below its October record of $126,080, according to CoinGecko data. Ethereum was changing hands for $3,439, marking a more than 5% 24-hour jump, although it has plummeted by 13% over the past week. The second-biggest digital coin by market capitalization has struggled to trade near its August record of $4,946.

Investors have largely veered away from crypto and other risk-on assets since October amid concerns over several factors. These include U.S. President Donald Trump’s escalation of the trade war against China, the ongoing government shutdown, low market liquidity, and diminishing prospects of a third U.S. interest rate cut before the end of the year.

Despite Trump’s pro-crypto rhetoric and policy stance, Bitcoin has experienced shocks along with tech stocks in recent months. These challenges have stemmed from ongoing macroeconomic uncertainties. Notably, in February, spot Bitcoin ETFs endured their longest and most difficult losing streak, with investors withdrawing over $2.2 billion during eight consecutive days following the president’s tariff announcements.

Financial advisor Ric Edelman, who heads the Digital Assets Council of Financial Advisors, struck an optimistic tone. He highlighted the significant inflows both categories of funds have generated within their brief histories. The Bitcoin ETFs had the most successful debut in ETF history following their January 2024 approval and now manage a total of $145.4 billion in assets.

“Looking at dollar flows distorts the picture,” Edelman told Decrypt. “The Bitcoin ETFs have collected more than $100 billion in assets, so while $2 billion in outflows sounds like a lot, it’s only 2% — hardly noteworthy.”

He added, “What is noteworthy is that, despite these outflows, Bitcoin’s price hasn’t crashed. This is because of the strong institutional inflows that are simultaneously occurring. This wouldn’t have been the case 10, five, or even two years ago, and shows the continuing maturity of this asset class.”
https://bitcoinethereumnews.com/bitcoin/bitcoin-ethereum-etfs-shed-2-6-billion-in-assets-over-the-past-week/

What’s Driving Bitcoin’s Price Down? Is a Rise Still Possible? Analysis Firm Explains!

Bitcoin experienced a major crash last night, with its price falling below the psychological level of $100,000. Singapore-based analysis firm QCP Capital has examined the main reasons behind this recent decline.

QCP analysts pointed out that the drop in Bitcoin’s price was primarily driven by a stronger US dollar and growing uncertainty about the Federal Reserve’s (Fed) future actions. The fall below $100,000 has also negatively impacted risk appetite among investors.

This weakening in risk appetite and ongoing macroeconomic pressures have been reflected in US spot Bitcoin ETFs, which have recorded net outflows of approximately $1.3 billion over four consecutive days. According to QCP Capital, “This reversal in ETFs has turned one of Bitcoin’s strongest tailwinds of 2025 into a near-term headwind.”

In addition, weaker spot demand for Bitcoin has coincided with forced deleveraging, resulting in liquidations exceeding $1 billion in long positions. Investors in the options market have also increased hedging activities around the $100,000 mark, highlighting the cautious sentiment prevailing in the market.

The data currently points to a technical decline in Bitcoin, with significant uncertainty still surrounding the Fed’s decisions. The recent 25 basis point rate cut by the Fed in October—despite rare opposition—has been met with a cautious market stance. This has delayed expectations of a new rate cut in December.

Market pricing currently reflects a 72.1% probability of a 25 basis point cut in December, while a scenario keeping rates unchanged stands at 27.9%.

Despite the prevailing uncertainty and increased macroeconomic pressures, QCP Capital analysts remain optimistic that Bitcoin could rally again. They noted that a sustained upward movement in BTC will likely depend on ETF outflows turning into inflows and a renewed investor confidence in risk assets.

*This is not investment advice.*
https://bitcoinethereumnews.com/bitcoin/whats-driving-bitcoins-price-down-is-a-rise-still-possible-analysis-firm-explains/

Galaxy Slashes Bitcoin Price Target for 2025 as BTC Enters ‘Maturity Era’

Galaxy Lowers Bitcoin End-of-Year Price Target from $185,000 to $120,000

Institutional crypto firm Galaxy has revised its end-of-year price target for Bitcoin, lowering it from $185,000 to $120,000. This adjustment comes in the wake of Bitcoin (BTC) falling below the $100,000 mark for the first time in six months.

In a note to its clients on Wednesday, Galaxy attributed this change to recent market developments, including a significant drop in BTC’s price and a $2 billion wave of liquidations that swept through the market on Tuesday. According to the firm, Bitcoin is now entering what it terms the “maturity era,” characterized by reduced volatility and increased stability.

### Bitcoin’s “Maturity Era” and Market Implications

Galaxy explains that during this new phase, market dynamics will be dominated by institutional absorption, passive investment flows, and lower volatility levels. As a result, the firm anticipates that Bitcoin’s gains will be more gradual moving forward, with prices expected to approach—but not exceed—previous all-time highs by the end of the year.

Recently, Bitcoin has been trading around $103,923, marking a 3% increase following Tuesday’s market upheaval. However, this price still represents an approximate 18% decline from its all-time high of $126,080 set just last month, according to data from CoinGecko.

### Shifting Market Dynamics

Galaxy’s analysis highlights several factors working against Bitcoin’s favor in the current market:

– The record $19 billion liquidation cascade on October 10, triggered partially by President Trump’s threats of massive tariffs on China, has shaken investor confidence and reduced market liquidity.

– Alternative assets, such as gold and AI-focused stocks, have started to compete more aggressively with Bitcoin for investors’ attention.

– The growing popularity of stablecoins has also diverted interest away from Bitcoin within the crypto space.

### Policy Developments and Investor Sentiment

On the policy front, expectations for a Bitcoin strategic reserve were high when President Trump took office in January. While an executive order was signed to establish such a reserve, there have been no subsequent Bitcoin purchases, and government communication on the initiative has been minimal, Galaxy noted.

Additionally, retail investor enthusiasm for crypto has waned significantly since 2021. Galaxy describes retail buyers as largely “apathetic” toward Bitcoin, with the previous year’s meme coin surge providing only a temporary boost in attention that has yet to translate into sustained confidence in Bitcoin.

### Future Outlook for Bitcoin Treasury Companies

Galaxy also predicts changes for companies holding Bitcoin on their balance sheets. Whereas stock prices for these firms previously rose in tandem with Bitcoin’s price, the cooling momentum means that generating revenue through other means will become necessary.

### Market Predictions

According to predictors on Myriad—a platform developed by Decrypt’s parent company, Dastan—there is a 64% likelihood that Bitcoin will reach $115,000 before it drops to $85,000.

As Bitcoin transitions into this new phase of maturity, investors and market observers will be closely watching how these evolving dynamics shape the outlook for the world’s leading cryptocurrency.
https://decrypt.co/347449/galaxy-slashes-bitcoin-price-target-2025-btc-enters-maturity-era

Solana ETFs Draw Inflows As Bitcoin And Ethereum See Outflows: Is $BEST The Next Crypto To Explode?

ETF Flows Rotate Fast: Spotlight on Solana & Best Wallet Token (EST)

ETF flows saw rapid rotation this week, as multiple spot Bitcoin (BTC) and Ethereum (ETH) ETFs posted sizable net outflows across several sessions. BTC outflows hit $1.3 billion, while ETH outflows totaled $500 million. Persistent “red days” for BTC and ETH funds were closely followed by a growing institutional focus on Solana (SOL), as participants search for higher-beta plays for the next leg of the crypto cycle.

But why does this rotation matter?

ETF Leadership Signals Risk Appetite

ETF flow leadership often signals where risk appetite is headed across the crypto landscape. Solana’s throughput offers traders cleaner beta to on-chain activity, suggesting that inflows to Solana-linked products may indicate traders seek cyclical upside, rather than a simple “risk-off” move in BTC and ETH. This shift tends to pull liquidity into venues that make exposure to top altcoins easier for non-custodial users.

Retail Needs in a Changing Market

For retail investors, the rotation creates practical needs:
– Fast execution across multiple chains
– Early access to projects that may benefit from new liquidity
– Smooth onboarding and presale access as flows migrate down the risk curve

Self-custody remains a top priority. There’s rising demand for a wallet that removes multi-chain complexity and offers institutional-grade security.

Best Wallet: Positioned for the New Cycle

Best Wallet is addressing these needs. Its whitepaper outlines a non-custodial mobile wallet that integrates Fireblocks MPC CMP technology, in-app swaps across six major chains, and a portal for the leading crypto presales. If ETF flows continue shifting attention toward higher-growth ecosystems, early tokens can benefit.

Best Wallet Token (EST)

Best Wallet’s official token, EST, offers secure purchase flow inside the wallet and ties user rewards to on-chain activity. The live presale is seeing strong traction with nearly $17 million raised to date, including recent whale entries ($33K last week). This evidence shows that users want a wallet that doubles as a presale gateway, not just a key manager.

Read more about Best Wallet Token in our guide.

Best Wallet Token (EST): Secure Mobile Wallet With Presale Access & Upcoming Analytics

Best Wallet Token (EST) powers Best Wallet, a non-custodial solution built on Ethereum that uses Fireblocks MPC CMP to fragment and safeguard keys. This security layer is uncommon for retail wallets and vital for users seeking exchange-level protections without compromising self-custody.

Features include:
– Buy, sell, and swap crypto
– In-app staking
– NFT gallery
– Crypto news feed
– Planned gas token-free transactions

With this breadth, users can arrive for presales and stay for daily wallet tasks—without switching apps.

Supported Chains (Currently):
– Bitcoin
– Ethereum
– Solana
– Binance Smart Chain
– Base
– Polygon

Future plans include support for over 60 major chains.

Benefits for EST Holders

– Reduced fees across the ecosystem
– Early access to screened presales via the Upcoming Tokens portal
– Gamified rewards
– Staking is live for presale buyers at 78% APY (invest $500, potentially earn $890 in one year)*
– Note: APY decreases as more tokens are staked

As of now, EST’s token price is $0.025895, with total presale raise at $16.8 million.

How to Join the EST Presale

To join early, see our “How to Buy EST” guide. Payments are available in ETH, BNB, USDT, USDC, or by card, with claim handled onsite after the sale.

These onramps target users entering from ETF-driven interest who desire an easy first step into self-custody and altcoin exposure.

EST Price Prediction

If our EST price prediction holds, the token could reach $0.62 by the end of 2026—a potential 2,300% increase from today’s price.

ETF watchers seeking the next “crypto to explode” narrative, but preferring measured exposure, can use Best Wallet Token to explore presales with robust guardrails. Power users gain cross-chain routing and multi-wallet support; newcomers benefit from a simpler purchase flow in a secure mobile wallet.

Join the EST presale now at just $0.025895 per token.

*Authored by Ben Wallis, Bitcoinist.*

*Disclaimer: Staking yields change as more participants join. Always conduct your own research before investing.*
https://bitcoinist.com/solana-etfs-soar-btc-eth-etfs-fall-best-may-be-next-crypto-to-explode/

BlackRock Expands Bitcoin ETF Reach With Upcoming ASX Listing

BlackRock Expands Crypto Footprint to Australia with Bitcoin ETF

The world’s largest asset manager, BlackRock, is extending its crypto footprint to Australia by introducing a Bitcoin exchange-traded fund (ETF). This move signals deepening institutional adoption of digital assets and highlights Bitcoin’s growing role in global investment strategies.

BlackRock Pushes Bitcoin ETF to a New Frontier

BlackRock is bringing its flagship Bitcoin ETF to Australia, aiming to replicate the success of its U.S. counterpart while tapping into a growing appetite for digital assets in the region. The ASX-listed iShares Bitcoin ETF (IBIT) is expected to debut later this month, offering local investors direct exposure to Bitcoin through a regulated and transparent framework.

This launch follows IBIT’s record-setting rise in the United States, where the fund attracted over $98 billion in assets under management within just two years and generated more than $240 million in annual fees. The move marks a major expansion of BlackRock’s crypto strategy and demonstrates strong confidence in Bitcoin’s role as a core institutional asset.

According to Tamara Stats, who oversees institutional client business for BlackRock Australasia, the ETF’s arrival reflects both market maturity and increasing investor demand. “Institutions increasingly view Bitcoin as a complementary asset within diversified portfolios,” she explained, adding that the ETF provides a “familiar and transparent” way to gain exposure to digital assets.

Expanding ETF Options Beyond Crypto

While the Bitcoin ETF is currently drawing the headlines, BlackRock is also broadening its traditional investment offerings in Australia. The firm recently unveiled plans for the iShares Core Global Aggregate Bond ETF (AGGG), which targets investment-grade bonds from governments and corporations worldwide.

This new bond ETF will carry a 0.18% management fee and track the Bloomberg Global Aggregate Bond Index (AUD Hedged). Steve Ead, Head of Global Product Solutions at BlackRock Australasia, emphasized that this addition strengthens BlackRock’s commitment to providing “tools that make diversified portfolio construction easier for Australian investors.”

“Our goal is to democratize access whether that’s global bonds or Bitcoin so investors can participate in evolving markets more efficiently,” Ead stated, highlighting the firm’s broader mission beyond simply launching new products.

Institutional Momentum Builds

The timing of BlackRock’s Australian Bitcoin ETF launch coincides with a rapid acceleration in institutional participation in crypto markets. Over the past year, major funds and endowments have entered the Bitcoin market, including Harvard University’s notable $100 million allocation to a U.S.-listed Bitcoin ETF.

Analysts at Deutsche Bank have projected that Bitcoin could eventually be included on central bank balance sheets before the end of the decade—a scenario that was once unthinkable but is now increasingly plausible as ETFs make exposure simpler and more accessible.

BlackRock’s own inflow data further underscores this trend: in the third quarter alone, the company’s iShares ETFs attracted $153 billion, pushing total ETF assets under management to an impressive $5 trillion.

A Defining Moment for Bitcoin ETFs

The introduction of IBIT on the Australian Securities Exchange marks a new chapter in how global investors engage with cryptocurrency markets. For BlackRock, this listing reinforces its position at the forefront of integrating digital assets within traditional finance.

The ETF’s net asset value (NAV) currently sits at approximately $60.56, reflecting a 16.74% gain year-to-date despite recent market volatility. With strong demand for Bitcoin exposure and expanding ETF infrastructure, BlackRock’s latest move is poised to open the door for a new wave of institutional participation throughout the Asia-Pacific region.

As the line between crypto and conventional finance continues to blur, BlackRock’s Australian launch underscores a larger truth: Bitcoin is no longer a fringe experiment—it is fast becoming a pillar of the global investment landscape.


The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.


About the Author

Alex is an experienced financial journalist and cryptocurrency enthusiast with over eight years of experience covering the crypto, blockchain, and fintech industries. He is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear understanding of the latest developments and trends in the market.

Alex’s approach focuses on breaking down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics in the financial and crypto landscape.

https://bitcoinethereumnews.com/bitcoin/blackrock-expands-bitcoin-etf-reach-with-upcoming-asx-listing/

Bitcoin’s November sell-off worsens as investors take risk off on worries about the AI trade

Bitcoin fell victim to a risk-off mood on Tuesday, as investors dumped the cryptocurrency amid growing concerns about the sustainability of AI stock values.

Bitcoin was last trading at $103,952, down 2.5% on the day and around 6% over the past two days. Ether, the second-largest cryptocurrency by market capitalization, also saw declines, shedding 2.5% on Tuesday and losing more than 10% over two days to trade at $3,503.

Although Bitcoin’s safe-haven status has strengthened recently, the token shares many of the same large investors as artificial intelligence stocks. This overlap links the two trades, causing both to decline when one falters.

Nasdaq futures were down 1.5% on Tuesday, with investors selling AI-linked Palantir amid concerns about its sky-high valuation, despite the company posting solid earnings results.

Compass Point analyst Ed Engel also noted that retail investors may not be buying the dip as actively as before. “While selling from long-term holders is a common feature in bull markets, retail spot buyers have been less engaged than prior cycles,” he said in a note.
https://www.cnbc.com/2025/11/04/bitcoins-november-sell-off-worsens-as-investors-take-risk-off-on-worries-about-the-ai-trade-.html

Bitcoin, Ethereum and Dogecoin Plunge as Crypto Liquidations Top $1.1 Billion

After a rough October that didn’t deliver the anticipated “Uptober” gains for Bitcoin and other top crypto assets, November is off to a challenging start. Major cryptocurrencies are deep in the red so far this Monday, with Bitcoin plunging 4% and altcoins suffering even larger losses.

Liquidations are piling up quickly. According to data from CoinGlass, approximately $1.16 billion worth of positions were liquidated over the last 24 hours. The vast majority of these, about $1.08 billion, were long positions—bets that asset prices would rise.

Bitcoin and Ethereum are leading the downturn, with liquidations totaling around $298 million and $273 million respectively. Bitcoin has dropped 4% on the day to a recent price of $20,699, marking its lowest level since October 17, as reported by CoinGecko. Ethereum and other altcoins have been hit even harder, with ETH declining roughly 7% to $3,583—a near three-month low.

Other notable losses include XRP, which has fallen about 7% to $2.33. BNB, Solana, and Dogecoin are all experiencing daily declines around 9% at the time of writing.

Interestingly, this latest crypto plunge comes even as major stock indices like the Nasdaq and S&P 500 remain in positive territory. There are no clear catalysts explaining such significant crypto losses this Monday.

However, on X (formerly Twitter), noted pseudonymous analyst Maartunn from CryptoQuant highlighted several potential factors driving today’s downturn. These include sell pressure from U.S. spot Bitcoin traders and apparent “signs of fragility” in the Ethereum charts.

Crypto prices began slipping late Sunday after comments from U.S. Treasury Secretary Scott Bessent regarding the impact of high interest rates on the economy. Bessent warned that “parts of the economy” may have been pushed “into recession.” As a result, crypto traders may be bracing for short-term volatility ahead of this week’s critical jobs report.
https://decrypt.co/347154/bitcoin-ethereum-dogecoin-plunge-crypto-liquidations-topping-1-1-billion

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