Bitcoin and Major Cryptos Slide Amid Resistance and Mixed Market Signals
Bitcoin fell toward $90,000 after a brief spike above $94,500 on Tuesday failed to break resistance, leaving BTC in a range-bound move. Over $514 million in leveraged positions were liquidated in the past 24 hours, including $376 million in long liquidations and $138 million in short liquidations.
Ether declined about 3.4% to around $3,208; Solana dropped about 5.8% to $131.12; and Dogecoin lost approximately 5.5% to $0.1386. Seven-day returns remain negative for most large-cap tokens, with XRP down 8.6%, ADA down 7.2%, and BNB down 5.9%.
The pullback followed Tuesday's spike that triggered a short squeeze but did not breach resistance, leaving Bitcoin in the mid-range amid thin market depth. The global crypto market capitalization stands near $3.16 trillion, up 2.5% week-to-date but below the Tuesday high of about $3.21 trillion. A sustained rebound would require breaking above roughly $3.32 trillion.
The Federal Reserve recently delivered another rate cut, with policymakers projecting fewer reductions over the next two years, signaling mixed macroeconomic support. QCP Capital expects wider Bitcoin trading bands between $84,000 and $100,000 into year-end. Bloomberg's Mike McGlone warns that a Santa rally may not materialize, suggesting Bitcoin could end the year below $84,000. BTC remains focused on the $90,000–$91,000 support zone, with a break lower exposing the bottom of the range.
