A closely watched “altcoin season” indicator has switched on, but not because altcoins are rallying. Glassnode’s Altcoin Cycle Signal has climbed to 86, a level that indicates alts are outperforming bitcoin on a relative basis. The move reflects bitcoin falling faster than alternative tokens, rather than broad strength across the rest of the crypto market.

XRP is gradually sliding toward the $1.10 support level as traders track whether it can break out of the three-week range it has been stuck in. The move is drawing closer attention from investors trying to gauge whether the token can hold above that floor. Market participants are also watching for signs that momentum could build enough to push price beyond its recent swings.

SpaceX’s $600 billion slide triggered a rapid selloff across crypto markets, wiping out nearly half of bitcoin’s market capitalization in three days. The move underscored how quickly digital-asset valuations can swing. It also highlighted how major corporate financial decisions can ripple through cryptocurrencies.

Taiko halted block production on its Ethereum layer-2 network after an attacker exploited a bridge mechanism to steal about $1.7 million. The incident triggered a sharp selloff in the TAIKO token, raising concerns among users and investors. The team said it is investigating the breach and will implement safeguards before resuming normal operations.

Bitcoin has been trading around $64,000, struggling to break out of a range that has held for weeks. Spot bitcoin ETF outflows have now extended to a sixth consecutive week, adding to the muted price action. Investors are watching whether flows and macro conditions shift enough to provide a clearer catalyst, according to the source summary.

Bitcoin slipped below $63,000 as a broad sell-off in risk assets hit cryptocurrencies and erased earlier-week gains linked to optimism over the US-Iran peace deal. The move weighed on market sentiment and pushed traders to reassess positions as selling picked up. The decline underscored the week’s volatility across markets.

Bitcoin and ether exchange-traded funds (ETFs) saw a combined $111 million in outflows as expectations for interest-rate cuts faded. The shift in rate outlook added uncertainty and volatility across crypto markets. Investors are watching the moves closely for what they could mean for broader risk appetite and digital-asset performance.

Strategy’s preferred stock STRC has fallen to a record low of $89, trading below its $100 par value for the first time. With the shares now below par, the company has paused issuing STRC through its at-the-market program, reducing a key channel it uses to raise cash for bitcoin purchases. The decline follows Strategy’s first bitcoin sale since it began accumulating BTC in 2022 to fund preferred dividends, according to the company.

XRP retreated 2.5% to about $1.19 after briefly trading above $1.22, with selling pressure pushing it back under the closely watched $1.20 level. The token fell from $1.2170 to $1.1869 over the past 24 hours, then attracted bids near $1.1750–$1.18 to stay above the $1.17–$1.18 support zone. Traders are now treating $1.20 as the first resistance and $1.1750 as key support, with a break lower raising the risk of a move toward $1.15.