Bitcoin price bled lower again this week, sliding from around $94.6K to $86.6K as hawkish Fed commentary, tech-sector weakness, and relentless whale selling crushed risk appetite. The drop pushed BTC to a six-month low and dragged the entire market with it, leaving traders split between capitulation and early bottom-spotting.
Amid the volatility, leveraged products launched, ETFs continued to attract inflows, regulators issued warnings, and courts stepped into DeFi disputes.
Here are the top stories shaping crypto this week.
21Shares Launches 2x Long Dogecoin ETF on Nasdaq
21Shares has listed the 2x Long Dogecoin ETF (TXXD) on Nasdaq, offering traders 200% exposure to Dogecoin’s daily price movements. The leveraged ETF resets exposure daily and is built for short-term, high-volatility strategies, not long-term holding. The launch expands regulated access to leveraged crypto products and highlights Dogecoin’s growing mainstream adoption amid 21Shares’ acquisition by FalconX.
XRP Hits Key Support as ETFs Approach $500M in Inflows
XRP fell to $1.81, its lowest level since October, amid a broader crypto market decline. Despite the drop, XRP ETFs are nearing $500 million in cumulative inflows, adding $118 million on Thursday alone. Analysts expect continued demand as new ETFs launch. Technically, XRP sits on major support and may rebound toward $2.70, unless it falls below $1.80.
Crypto Slides as Fed Cautions Delay Rate-Cut Hopes
The crypto market dropped sharply after Fed official Michael Barr warned rate cuts may come slower than expected, pushing Bitcoin toward $87,700 and Ethereum below $3,000. Altcoins fell broadly as investors shifted into equities following strong Nvidia earnings. Odds of a December rate cut declined, worsening sentiment. Still, extreme fear readings and deeply oversold indicators suggest a potential rebound if conditions stabilize.
Court Blocks Maple’s syrupBTC After Core Foundation Lawsuit
Core Foundation secured a court injunction stopping Maple Finance from launching its syrupBTC liquid-staked Bitcoin product, accusing Maple of using confidential information and violating a 24-month exclusivity agreement tied to their joint lstBTC project. The Cayman Islands court ruled that damages wouldn’t prevent competitive harm, barring Maple from launching or promoting syrupBTC while arbitration proceeds. The case highlights DeFi’s growing reliance on traditional legal systems.
Solana Rebounds on ETF Inflows but Key Support Levels Remain Fragile
Solana recovered from a drop to $129, rebounding toward $142–$145 as ETF inflows hit $55.6 million, signaling continued institutional interest. Despite this bounce, SOL remains down 25% over the month, with technical indicators still bearish. Traders now watch the critical $130 support; holding above $140 could open a move to $150, while a breakdown risks a slide toward $85–$55.
Analysts Spot Pre-Rally Pattern as Cronos Shows Signs of Reaccumulation
Cronos (CRO) is trading near $0.109 as analysts highlight a familiar accumulation pattern that preceded past multi-month rallies. Research suggests CRO is forming a tight base around $0.07–$0.10, with selling pressure fading and potential upside toward $0.18–$0.22 if the structure holds. Despite bullish narratives, including ETF exposure and AWS ties, technical indicators remain bearish, with weak momentum and low volume.
Retail Capitulates as Whales Accumulate BTC, ETH, and XRP
Retail traders are heavily selling Bitcoin, Ethereum, and XRP, with small wallets dumping up to 1.38% of supply. Santiment data shows this fear-driven capitulation often precedes rebounds as whales absorb liquidity. A major BTC whale bought $1B worth of Bitcoin, ETH is nearing a strong liquidity zone, and XRP ETFs recorded $25M in inflows, signaling growing institutional confidence despite weak prices.
ECB Warns Stablecoin Run Could Threaten Europe’s Financial Stability
The Dutch Central Bank warns that a large-scale run on stablecoins could force the ECB to alter its interest rate framework. Governor Olaf Sleijpen says mass redemptions would trigger rapid liquidation of reserve assets, disrupting bond markets and increasing borrowing costs. Policymakers caution that instability could weaken liquidity, monetary transmission, and sovereignty in the euro area, calling for stronger regulation and the development of a euro-based stablecoin.
