“The largest crypto has now tumbled more than 20% since hitting a record high above $126,000 only one month ago.”, — write: www.coindesk.com
The largest cryptocurrency now has declined more than 20% from its record high above $126,000, hit just one month ago. It also made a new low below the crypto flash crash on October 10, which ranked as possibly the largest liquidation events in crypto history, taking BTC to $103,000 from above $120,000 in less than a day.
In the following weeks, recovery attempts fizzled out as bounces above $110,000 met with quick selloffs.
Among the more recent catalysts for the selling is the Federal Reserve’s surprise hawkishness last week, with Jerome Powell and a growing number of his cohorts cooling expectations for another interest rate cut in December.
Bitcoin’s price struggles of late have been particularly frustrating for bulls as they’ve come alongside continued record-setting rallies in stocks and — until recently — gold. Today is notable, though, in that assets are selling off across the board, with the Nasdaq lower by 2% and gold off 1.6%.
Not correlated on the way up, but perfectly correlated on the way down. It’s been a rough autumn for bitcoin.
Read more: Bitcoin Careens Toward $100K as Morning Bounce Fails
A deep dive into Zcash’s zero-knowledge architecture, shielded transaction growth, and its path to becoming encrypted Bitcoin at scale.
- Shielded adoption surgedwith 20–25% of circulating ZEC now held in encrypted addresses and 30% of transactions involving the shielded pool.
- The Zashi wallet made shielded transfers the default, pushing privacy from optional to standard practice.
- Project Tachyonled by Sean Bowe, aims to boost throughput to thousands of private transactions per second.
- Zcash surpassed Monero in market share, becoming the largest privacy-focused cryptocurrency by capitalization.
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LINK risks falling to $14 as breakdown amid heavy volume confirmed the broader bearish structure.
- Chainlink’s native token LINK plunged another 6% to $14.59 as heavy volume overwhelmed bullish developments.
- UBS tokenized fund transaction and FTSE Russell partnership could not halt decline.
- Breakdown below $15.26 triggers descending channel on 154% volume spike, CoinDesk Research’s technical analysis model suggests.
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