ETH, XRP, SOL, ADA Drop 8–16% in a Week, What Can Crypto Traders Expect Next?

Major cryptocurrencies experienced significant weekly declines, with Ether (ETH) down 12%, XRP by 8.8%, and Solana (SOL) by 16.5%, following Bitcoin's tumble below the $100,000 psychological level to $96,600. This broader market downturn is attributed to a risk-off sentiment triggered by a reversal in U.S. tech stocks and slowing institutional conviction, leading research firm 10x to suggest the market has entered a bear phase due to slowing ETF inflows and accelerating long-term holder offloading.

Technically, Bitcoin's break below the $100,266 monthly mid-range cleared a key liquidity shelf, exposing near-term support between $93,000 and $95,000. A breakdown below this could lead to a test near $89,600, while resistance lies at $100,200. Market stabilization hinges on upcoming FOMC minutes offering a dovish lean, as ETF outflows and a developing death-cross signal maintain downward momentum.

Market participants anticipate subdued trading unless a major macro catalyst emerges, especially as the market braces for a potential Fed pause on rate cuts in December. This slide has erased Bitcoin's 30% gain from earlier in the year, reversing optimism fueled by pro-crypto political commentary.

(Source：CoinDesk)