Bitcoin price mainly stayed under $100,000 this week as tighter Fed expectations, tech-sector weakness, and aggressive whale selling dragged the market lower.
A Wyckoff Distribution pattern now points to a potential move toward $86,000, though some analysts say the bull trend remains intact if $94,000 holds.
Meanwhile, Solana ETFs logged 13 straight days of inflows, even as SOL broke key technical support, and broader risk appetite weakened across crypto and equities.
From IPO stock crashes to protocol upgrades and whale-driven volatility, here are the top six stories shaping the crypto market this week.
Why Crypto IPO Stocks Are Crashing
Shares of Circle, Bullish, and Gemini have plunged sharply since their IPOs, wiping out billions of dollars in market value. Circle’s stock collapsed from $299 to $82 due to valuation concerns, falling interest rates, and stalled USDC supply. Bullish and Gemini tumbled as Bitcoin’s decline hit treasury-heavy companies, trading volumes across exchanges dropped, and both firms issued weak forward guidance amid rising competition.
Avalanche Price Tests Critical Support as Market Volatility Rises
Avalanche (AVAX) is hovering around $15.40–$15.60, threatening to break its long-held $16 support after a broad crypto sell-off. Analysts are split: some warn that a $16 loss could trigger a rapid drop to $12–$10 due to thin liquidity below, while others see AVAX nearing a trend-reversal zone within its long-term channel. A daily close above $16 signals recovery; below $15.30 confirms downside risk.
Coinbase and Kalshi Partner to Bring Secure USDC Settlement to Prediction Markets
Coinbase has teamed up with Kalshi to provide institutional-grade custody and real-time settlement for USDC on Kalshi’s CFTC-regulated prediction market platform. The integration ensures secure, compliant, and transparent handling of deposits and payouts, giving users stable, non-volatile settlement for event contracts. As prediction markets surge in adoption, the partnership boosts trust, reliability, and operational resilience across the sector.
XRP ETF Launch Fails to Boost Price
XRP remained flat around $2.40 despite the launch of Canary’s new XRPC ETF on Nasdaq, which saw strong early volume but met expectations already priced in by investors. The token also faced broader market weakness and bearish technicals, including a death cross and a persistent descending channel. Analysts warn XRP could slip toward $2.00 unless it breaks above key resistance.
Vitalik Buterin Publishes “Trustless Manifesto” to Reinforce Ethereum’s Decentralization
Vitalik Buterin has released the “Trustless Manifesto,” a permanent on-chain declaration urging developers to protect Ethereum’s decentralization. Co-written with the Ethereum Foundation’s Account Abstraction team, the document outlines principles like trust neutrality, self-custody, and verifiable public data. It warns of the growing reliance on centralized nodes, cloud services, and intermediaries and calls for resilient, permissionless designs. Developers are invited to sign the pledge on the Ethereum network.
Crypto Rally Stalls as Fear Rises and Technicals Turn Bearish
The crypto market’s recent rallies keep fading as investors remain deeply fearful. Bitcoin and major altcoins face strong resistance, with sentiment stuck in the fear zone and futures open interest far below October levels. ETF demand, funding rates, and stablecoin inflows have all weakened, signaling limited new capital. Meanwhile, bearish technical patterns, including Bitcoin’s death cross and double top, continue to pressure prices across the market.
Uniswap Soars as $1B Token Burn Proposal Triggers Heavy Whale Accumulation
Uniswap’s UNI token surged to its highest level since September after founder Hayden Adams proposed burning 100 million UNI, worth nearly $1 billion, and initiating ongoing burns of all protocol fees, including those from Unichain. The move sparked a whale buying spree, with large holders increasing positions to 9.63 million UNI. UNI broke major technical levels and now eyes resistance near $12.5.
