Bitcoin short-term holders are selling at significant losses as the STH-SOPR metric drops to 0.97, remaining below 1.0 for several consecutive weeks, data show. This sustained capitulation pattern typically signals fear-driven selling and has historically aligned with major market turning points. Recent exchange flows show 65,200 BTC transferred at a loss, reflecting panic behavior as nearly all recent buyers hold unrealized losses.

Bitcoin holds near $90,000 as over 6.96 million BTC now carry unrealized losses—the highest level since January 2024, data show. The spike reflects supply accumulated near prior all-time highs. Short-term holders face mounting pressure as BTC tests the 200-day moving average, a critical support level during bull market corrections.

Tether and Circle have issued over $14 billion in new stablecoins since October 10, with Circle recently minting an additional $750 million USDC. USDC dominance has climbed to approximately 2.33%, its highest level in nearly a year. The surge in stablecoin issuance comes as investors rotate into stable assets amid market uncertainty, with Bitcoin falling below $100,000 and altcoins extending losses that began in early October.

Bitcoin is trading around $97,000 after falling below $100,000 for the first time since May. Binance Futures order books reveal significant bid walls totaling approximately 2,800 BTC, with clusters of 800 BTC and up to 2,000 BTC positioned near current price levels, according to CryptoQuant analyst Maartunn. The concentration of buy orders suggests large-scale accumulation by institutional traders.

A major Ethereum investor purchased 36,445 ETH worth approximately $114.91 million in two transactions despite ongoing market pressure. The whale has accumulated 422,175 ETH since November 4, valued at roughly $1.34 billion at an average price of $3,489, according to Lookonchain data. The position currently holds over $120 million in unrealized losses as Ethereum trades near $3,200.

A major Ethereum holder purchased 30,548 ETH valued at $105.36 million in a single transaction, according to Lookonchain. Since November 4, the whale has accumulated 385,718 ETH totaling approximately $1.33 billion, with roughly $270 million borrowed from Aave. Ethereum currently trades at approximately $3,479, holding just above its 200-day moving average.

Large Ethereum holders purchased 394,682 ETH worth approximately $1.37 billion over three days, data show. The buying activity occurred as ETH consolidated near $3,380 after finding support at its 200-day moving average following Tuesday's decline below $3,100.

Bitcoin fell below $110,000 in a sharp decline that triggered panic selling following the Federal Reserve's 25 basis point rate cut and announcement regarding quantitative tightening. The cryptocurrency briefly tested $108,500 before attempting recovery. Analysts identify $117,000 as the Point of Control—the price zone with highest traded volume—which now serves as a key battleground for bulls seeking to re-establish momentum.

Bitcoin spot trading volume exceeded $300 billion in October across major centralized exchanges, with Binance accounting for $174 billion, data show. The shift toward spot markets followed the October 10 liquidation event and coincided with the Federal Reserve's 25 basis point rate cut and planned conclusion of quantitative tightening by December 1.