SOL is slightly higher near $130–$132, up about 0.5%, outperforming most large caps today. Still, CoinDesk notes that Solana, along with other high‑beta altcoins, has been under pressure in recent weeks as year‑end profit‑taking in BTC and thin liquidity amplify moves, leaving SOL down on the week and still vulnerable if Bitcoin retests lower supports.
Derivatives and sentiment data show a fearful, range‑bound market
CoinDesk reports the Crypto Fear and Greed Index back in ‘extreme fear’ after prior liquidations wiped out overleveraged longs, and FXStreet/Coinglass data show rising open interest in selective names like Dogecoin as traders hunt for rebound plays. Overall, flows are light and ranges tight, with analysts repeatedly describing ‘a market waiting for a catalyst’ in the form of incoming U.S. data or central bank surprises.
Macro backdrop: Fed cuts done for now, BOJ/ECB/BoE in focus
Despite the Fed’s third rate cut of 2025 and a softer dollar, crypto has failed to mount a sustained relief rally, suggesting the bullish impulse from easier policy is fading. News from Investing.com, Yahoo Finance and FXStreet stress that this week’s U.S. jobs and inflation prints plus the Bank of Japan’s widely expected hike—historically associated with BTC drawdowns—are keeping traders defensive across digital assets.
Bitcoin stabilizes below $90K as macro risk-off mood persists
BTC trades near $89K–$90K, up about 1.5% intraday but still stuck in a tight range after a multi-week slide. Caution ahead of key U.S. jobs and inflation data and the Bank of Japan decision is curbing fresh risk-taking and keeping volatility muted.
Downside risks for BTC grow, with $80K retest back on traders’ radar
CoinDesk notes BTC has retreated from roughly $93K since Friday, with technicals pointing to rising odds of a pullback toward the $80K area if support around the mid‑$80Ks fails. A weak Nasdaq and thin year‑end liquidity are reinforcing defensive positioning.
Ethereum outperforms majors but stalls below key resistance
ETH is around $3,150, up roughly 2.8% on the day and modestly firmer than BTC over the week. FXStreet highlights that rejection at the 50‑day EMA near $3,280 leaves ETH vulnerable to a move toward $3,000–$2,750 if macro data or risk sentiment deteriorate.
XRP pinned near $2.00 as it tests critical support-resistance zone
XRP sits around $1.98–$2.00, barely higher on the day after failing several times to clear $2, which CoinDesk frames as a near‑term inflection level. FXStreet warns that a daily close below ~$1.96 could open room toward $1.77, while holding this base keeps $2.35 in play.
Solana edges higher but remains pressured alongside high‑beta altcoins
SOL trades near $132, up about 1.8% but still lagging after recent drawdowns as Coindesk flags year‑end profit‑taking and thin liquidity across ETH, SOL, and ADA. Risk-sensitive names like SOL remain tethered to BTC direction and broader tech‑stock sentiment.
Digital asset treasuries and crypto-proxy stocks enter ‘Darwinian phase’
Yahoo Finance reports that bitcoin‑heavy corporates such as Strategy Inc. have been hit hard since October’s BTC crash, with mNAVs compressing toward 1x. This is forcing balance‑sheet hoarders to build cash reserves and could accelerate consolidation if BTC remains range‑bound.
HashKey IPO and continued institutional accumulation contrast with retail caution
HashKey’s Hong Kong IPO, reportedly multiple times oversubscribed, underscores ongoing institutional interest in crypto infrastructure even as spot prices stall. On-chain and balance‑sheet data cited by CoinDesk show whales and corporates quietly accumulating BTC while retail flows and leverage stay muted.