Technical Analysis

Bitcoin is trading at $103,400 with 24-hour volume of approximately $74.5 billion. Analysts are monitoring the 66-week exponential moving average near $94,000, an unfilled CME futures gap, and a potential death cross as the 50-day simple moving average approaches the 200-day SMA. Several technical patterns suggest the cryptocurrency may be nearing a significant support zone.

Solana is retesting a key demand zone between $145 and $155 that has held since November 4, following a nearly 10% decline from weekly highs of $171.90. The asset is trading around $155 as technical indicators suggest potential further decline toward $140. On-Balance Volume shows continued selling pressure while the Money Flow Index remains below 50, reinforcing bearish momentum.

Bitcoin's daily chart shows deteriorating momentum with the 9-day EMA crossing below the 20-day EMA. The Crypto Fear & Greed Index has dropped to 15 out of 100, marking extreme fear levels last seen in March. Analysts note this fear-driven environment has historically preceded rallies, with long-term holders accumulating while short-term participants exit positions.

Bitcoin is trading around $102,100 as MicroStrategy's proportion of total corporate BTC reserves declines to 60% from 75% earlier this year, data show. Morgan Stanley warns the asset may be entering a profit-taking phase, while a stronger U.S. dollar adds near-term pressure. Technical patterns suggest a potential breakout above $104,000 could trigger a rally toward higher levels.

Chainlink has declined 30.1% from $22.58 to $15.77 since early October, despite over 63 million LINK tokens leaving exchanges in the past month. Recent price recoveries have triggered profit-taking by holders, suggesting weak bullish conviction and potential for further losses. The pattern indicates investors remain cautious despite ongoing institutional partnerships.

Digital asset markets recovered after last week's decline, but QCP Capital analysts caution the rebound may lack durability. The Singapore-based firm cited ongoing headwinds including government operations disruption, U.S.-China trade tensions, and credit market instability as factors that could cap sustained gains.

Bitmine Immersion Tech acquired 110,288 ETH for approximately $384 million, raising its total holdings to 3.5 million tokens valued at $12.21 billion. Ethereum's supply on centralized exchanges fell below 10% for the first time, dropping beneath Bitcoin's 11% exchange balance. The ETH/BTC pair continues to face rejection at long-term resistance extending from 2021, while weekly momentum indicators have turned bearish.

Large Ethereum holders acquired more than $350 million worth of ETH during the recent market downturn. One newly created wallet accumulated 20,000 ETH totaling approximately $70 million through Kraken, while another entity purchased $206 million in AaveETH via Galaxy Digital's OTC desk, data show. A separate address obtained 24,007 ETH exceeding $82 million during the same period.

Cypherpunk Technologies purchased 203,775 ZEC tokens valued at approximately $50 million, according to a company statement released Wednesday. The acquisition followed a $58.9 million capital injection from Winklevoss Capital. The firm, formerly Leap Therapeutics, acquired the tokens at an average price of $245 per coin and aims to accumulate at least 5% of Zcash's maximum 21 million token supply.

Morgan Stanley Wealth Management has issued a cautious outlook on Bitcoin, with strategist Denny Galindo describing the current market phase as a "fall season" where investors should consider harvesting gains. Bitcoin recently dropped below $99,000 and its 365-day moving average, signaling weakening momentum. Long-term holders have increased selling to 104,000 BTC per month, the highest since mid-July.