The leading altcoins could record further losses amid renewed bearish momentum.
The cryptocurrency market is starting another month bearish after the poor performance recorded by Ether and other major coins in November. Ether recorded a temporary relief last week, hitting the $3k psychological level.
However, the recent gains have been wiped out, with Ether now trading around $2,800 after losing 5.5% of its value in the last 24 hours. The negative performance saw over $140 billion wiped out from the crypto market during that period, with the total market cap now below $3 trillion.
Furthermore, the bearish performance saw over $500 million worth of leveraged positions liquidated in the last 24 hours, with Binance, Bybit, and Hyperliquid accounting for 90% of the total liquidations.
Ether and other major cryptocurrencies could face further selling pressure in the near term. However, with the Fed’s FOMC meeting slated for next week, Ether and other leading cryptocurrencies could experience a temporary relief if the Federal Reserve cuts its benchmark interest rate for the third time this year.
Ether could retest the $2,600 low.
The ETH/USD daily chart is bearish and efficient as Ether has underperformed in recent days. The coin has lost 5.5% of its value since Sunday and is now trading around the $2,840 region.
If the ETH/USD daily candle closes below the November 21 low of $2,623, the bears could push the price lower over the next few hours or days, with the next major support around the June 22 low of $2,111.
The technical indicators remain bearish, with the RSI of 34 suggesting that sellers are in control. The MACD also risks a cross below the signal line, indicating Ethereum is still bearish.
However, if the bulls recover from the recent selloff, Ether could challenge the trend and push towards the $3k psychological level once again.
BTC dropped below $86k on Monday mainly due to macro pressures.
The leading cryptocurrency could retest the $80k low if the bearish trend persists.
BTC dips below $86k
Bitcoin, the leading cryptocurrency by market cap, is off to a bearish start in December, as it has lost over 5% of its value in the last 24 hours. At press time, Bitcoin is trading above $86k after temporarily dropping to the $85k region earlier today.
The bearish performance has affected altcoins too, with Ether trading below $2,800, while XRP is hanging on above $2.0
The recent selloff comes after the Bank of Japan (BoJ) Governor Kazuo Ueda revealed that possible interest rate hikes could be considered if the economy continues to evolve as predicted. The interest rate hike could increase borrowing costs and negatively affect carry trades.
In addition to that, the hacking of the Yearn Finance protocol a few hours ago contributed to the renewed pressure on Bitcoin and the broader cryptocurrency market. Thanks to the latest selloff, over $140 billion was wiped out from the crypto market in the last 24 hours, with $500 million worth of leveraged positions also liquidated.
JUST IN: $140,000,000,000 wiped out from the crypto market cap in the past 4 hours. pic.twitter.com/c32OHlyafS
The BTC/USD daily chart remains bearish and efficient as Bitcoin lost 5% of its value in the last few hours. The leading cryptocurrency is trading above $86k, as the daily, weekly, and monthly candles all confirm a bearish bias.
The RSI on the daily chart reads 32, pivoting downside towards the oversold after the brief recovery recorded last week. If the daily RSI remains below 30, Bitcoin could face further downward movement in the near term.
Additionally, the Moving Average Convergence Divergence (MACD) has shifted to a bearish momentum, with the sell signal shown a few hours ago.
If the selloff continues, the bears will look to target the $80,600 support in the near term. Failure to defend this level could see Bitcoin revisit the April 7 low of $74,508.
However, if the bulls recover, Bitcoin could rebound to $90,000 over the next few hours or days.
BAT coin price jumps 20% in 24h, driven by Brave browser user growth.
On-chain activity spikes 72%, boosting BAT coin demand and utility.
Technical breakout from descending channel signals further bullish momentum.
Basic Attention Token has emerged as one of the standout performers in the cryptocurrency market today.
The Basic Attention Token price has surged 20% past $0.27, adding to its 60% growth during the past week.
This price surge places BAT coin well ahead of broader altcoin recovery trends and highlights the growing impact of the Brave Browser ecosystem on the token’s utility.
Brave Browser milestone fuels BAT price rally
The rally in BAT coin price is closely tied to the increasing adoption of the Brave browser, which recently announced it had surpassed 101 million monthly active users.
With 42 million daily users, the platform boasts a DAU/MAU ratio of 0.42, indicating strong user engagement and retention.
Brave continues to expand its ecosystem by integrating privacy-first features such as ad-blocking, tracker prevention, storage partitioning, and a dedicated AI assistant named Leo.
The Brave Wallet also supports shielded Zcash transactions and Web3 interactions, positioning the browser as a comprehensive digital ecosystem rather than merely a privacy tool.
Furthermore, BAT plays a central role in this environment, powering the browser’s rewards system.
Users earn tokens by viewing privacy-respecting ads and can tip content creators or convert BAT into other cryptocurrencies.
The combination of increasing user numbers and high engagement has amplified on-chain activity, with a 72% surge in BAT transfers and consistent accumulation from large holders.
As a result, the BAT coin price has benefited from both the scarcity of circulating supply and the heightened demand from a rapidly expanding user base.
Trading competitions and technical signals add momentum
The price surge has been further supported by short-term trading catalysts.
Biconomy recently launched a BAT trading competition with an $8,000 prize pool, driving significant volume to the market.
Over a 24-hour period, BAT trading volume increased by more than 200%, reflecting both retail and institutional interest.
While competition-driven activity can inflate short-term trading, on-chain data suggests that much of the trading has been sustained by genuine interest from investors rather than purely speculative movements.
From a technical perspective, BAT coin has broken out of a descending channel, closing above key support levels near $0.21.
The MACD histogram turned positive, and the 7-day SMA has now flipped to provide support, signalling bullish momentum.
Traders are targeting the 161.8% Fibonacci extension at approximately $0.2896, though the RSI is nearing 74, suggesting that some consolidation may occur before further upward movement.
The key support levels to watch remain around $0.2410, reflecting a 50% retracement of November’s rally.
A social token and a privacy-focused cryptocurrency
Beyond technical and trading factors, BAT coin occupies a unique position as both a social token and a privacy-focused cryptocurrency.
The Basic Attention Token ranks as the 14th most widely distributed token on-chain, with over 437,000 holders, highlighting its broad reach.
Its integration with Brave allows users to engage in privacy-respecting digital interactions, providing a sustainable use case that extends beyond speculative trading.
The platform’s ability to handle nearly 20 billion annual searches, including AI-generated queries, demonstrates that Brave is evolving into a digital ecosystem capable of supporting significant BAT utility.
While BAT faces competition from other privacy-first browsers and must navigate regulatory changes, its combination of strong on-chain activity, expanding user base, and structural adoption trends indicates potential for sustained growth.
As the market approaches year-end volatility and trading competitions conclude, eyes are on whether the Basic Attention Token price can maintain momentum or experience consolidation.
XRP gains support from strong ETF inflows and institutional interest.
CME futures and options flows add momentum to the current setup.
Technical pressure builds as XRP tests midband resistance.
XRP is entering a decisive phase as new institutional products, shifting derivatives dynamics, and tightening technical structures converge around a market that has struggled to find a clear direction.
The XRP price currently stands at $2.23, having gained 1.6% in the past 24 hours, and continues a strong seven-day climb that has pushed its weekly performance above 17%.
Notably, despite being nearly 40% below its July all-time high of $3.65, XRP remains up around 50% this year, outpacing both Bitcoin and Ethereum over the same period.
Institutional momentum builds
A wave of new XRP ETFs has reshaped expectations among investors.
The last nine days alone brought in $643.91 million in spot XRP ETF inflows, according to data from Coinglass, while Bitcoin and Ethereum ETFs saw heavy outflows.
Total XRP Spot ETF Net Inflow | Source: Coinglass
Major firms, including Canary Capital, Franklin Templeton, Grayscale, and Bitwise, have launched XRP funds, and early traction has been stronger than many expected.
These inflows reflect the wider structural shift that analysts at NOBI and other platforms have highlighted.
The analysts point to a growing appetite among institutional traders, who now see regulated exposure to XRP as a viable strategy in a market preparing for potential Federal Reserve rate cuts.
In addition, Fed officials have signalled openness to reducing borrowing costs in December, a macro backdrop that often supports risk assets like XRP.
Some forecasts suggest that if inflows remain steady, XRP could rally strongly, pushing it towards its previous high, though conditions would still depend on broader market sentiment and regulatory clarity.
Derivatives signal shifting pressure
The derivatives market is adding another layer to the setup.
CME futures tied to XRP are scheduled to launch on December 15, pending regulatory approval.
This move places XRP alongside Bitcoin (BTC) and Ethereum (ETH) within the world’s largest derivatives marketplace, reinforcing its role in institutional portfolios.
At the same time, XRP options have influenced short-term behaviour.
$15 million XRP options expired on November 28 with a put-call ratio of 0.41, favoured bullish positioning, forcing market makers to buy spot XRP as hedges unwound.
Open interest dropped sharply afterwards, reducing the risk of volatile swings and leaving the market in a cleaner state ahead of new catalysts.
These intertwined factors show how futures, options, and ETF flows are beginning to align in a way that could support stronger price action.
But whether that alignment delivers immediate results will depend on how much follow-through traders are willing to commit to in the coming sessions.
XRP price forecast
On the charts, XRP has broken out of a 4-week falling channel, giving bulls an early signal that momentum may be shifting.
The MACD has flipped positive, and the 7-day moving average now acts as support near $2.11.
Perhaps the most telling structure is the Bollinger Bands setup.
BTC is up by less than 1% in the last 24 hours and is trading around $91,600.
The coin could rally higher as spot Bitcoin ETFs continue to record inflows.
Bitcoin ETFs record inflows
Bitcoin’s price is trading above the $91,600 mark on Friday after rebounding from key support levels over the weekend. The positive performance comes as institutional demand for Bitcoin increases, easing the recent selling pressure.
Data obtained from SoSoValue revealed that US-listed spot Bitcoin ETFs recorded a mild inflow of $21.12 million on Wednesday, after a positive flow of $128.64 million the previous day.
According to Glassnode’s weekly report, Bitcoin remains structurally fragile, as it is still trading below the $93k resistance level. The report added that with a weakening market structure, liquidity becomes the key lens for understanding what comes next.
Analysts are confident that the recent selling pressure is declining as volatility drops. In an email to Coinjournal, Dr. Sean Dawson, head of research at the onchain options platform, Derive.xyz, stated that the next phase would depend on the Fed’s interest rate decision in December. He stated that,
“Markets are balancing on a knife’s edge, but sentiment has stabilised meaningfully as expectations of a rate cut continue to recover. The probability of a 25 basis point cut at the upcoming FOMC meeting collapsed to 39% just a week ago, yet has since surged back to nearly 87%. In response, BTC has staged a strong rebound, rallying more than 10% from $82K to $91.5K at the time of writing.”
The shift in macro expectations has eased some of the intense bearish pressure that dominated the options market through late October and November. The 25-delta skew, a key measure of relative demand for puts versus calls, has moved sharply off its lows.
Bitcoin could extend its recovery towards the $100,000 mark
The BTC/USD 4-hour chart is bearish and efficient as Bitcoin has recovered excellently from its recent dip. The leading cryptocurrency found support around the key psychological level of $80,000 last week and has added 6% to its value since then.
At press time, BTC is trading above $91k. If the recovery continues, it could extend the rally toward the next key psychological level at $100,000.
The Relative Strength Index (RSI) on the 4-hour chart is 61, pointing upward toward the overbought level, indicating a growing bullish momentum. Additionally, the Moving Average Convergence Divergence (MACD) showed a bullish crossover on Thursday, providing a buy signal and further supporting the potential continuation of the recovery.
However, failure to overcome the $93k resistance level could see Bitcoin retest the key support at $85,000.
