Bitcoin Dips Below $100K, XRP ETF Launches, U.S. Government Reopens: It’s a Crypto Circus!

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Ah, the week was meant to be a delightful stroll through the crypto garden, but alas, the reality was more akin to stumbling into a patch of thorn bushes. Bitcoin, once a beacon of hope, has now plummeted to a six-month low, and there’s no telling where the bottom might be-if indeed there is one at all.

Let us indulge in a brief recap of last week, where BTC, on the verge of breaching the ominous $100,000 threshold, managed to hold its ground-just barely. By the weekend, it recovered a bit, reaching a promising $102,000, then surged to $104,000 by Sunday afternoon, with the added bonus of a Monday morning bump to $107,000. Why? Because President Trump, in a fit of generosity, promised $2,000 in tariff checks for the non-wealthy folks, and-surprise, surprise-hinted at the end of the longest government shutdown in history.

And then, in a move that shocked precisely no one, the relief rally came to an abrupt halt. BTC swiftly lost its newfound gains, sliding lower. Thursday arrived with the announcement that the government had reopened (whoopee!), and Bitcoin bounced up to $104,000 again. But alas, that level of resistance proved as fragile as an overcooked soufflé.

The next plunge was nothing short of brutal. Not only did Bitcoin sink below the $100,000 mark, but it continued its descent, landing at a depressing $94,500 by Friday-its lowest point since May. All in all, that’s a $12,000 haircut since Monday’s peak. Ouch.

The mood? Let’s just say it’s bearish-and analysts are now boldly declaring the end of the bull market and the beginning of a much more grim and prolonged bear cycle. For those keeping score, BTC’s weekly losses stand at nearly 5%, Ethereum has shed over 4%, and Solana is down a miserable 10%. But, like a few glimmers of hope in a sea of despair, Litecoin, Monero, WLFI, and UNI are looking relatively healthy. Oh, and XRP has been doing just fine, thank you very much.

Market Data

Market Cap: $3.3T | 24H Vol: $280B | BTC Dominance: 57.4%

BTC: $94,700 (-4.8%) | ETH: $3,074 (-4.2%) | XRP: $2.26 (+4.4%)

This Week’s Crypto Headlines You Can’t Miss

Bitcoin’s (BTC) Famous 4-Year Cycle May Finally Be Crumbling. Crypto analysts are, of course, beside themselves with excitement as they proclaim the death of Bitcoin’s trusty 4-year cycle. Apparently, BTC is entering a new, more sophisticated phase. Oh, how mature. Maybe it’s time for a mid-life crisis?

Canary’s XRP ETF (XRPC) Launch Successful: Here’s What Happened on Day 1. After what felt like an eternity of delays, the first-ever XRP ETF went live this week, and naturally, it smashed records. The day was a triumph for the Canary team, who likely celebrated with champagne, or whatever crypto folks do when they make history.

Bitcoin Whales and Miners Are Moving Massive Sums: What Does This Mean for BTC’s Price? Oh, the whales are stirring! Reports surfaced that Bitcoin whales and miners are moving vast amounts of BTC to exchanges. Not exactly a good sign for the price, but hey, maybe they’re just making space for new toys.

BTC ‘Miner Heartbeat’ Metric Shows Bitcoin Network Still Strong. Despite everything crashing down around it, Bitcoin’s network fundamentals remain robust, like a cockroach after a nuclear apocalypse. The “Hash Rate Momentum Score” says all is well, but does anyone really believe it?

IRS Introduces Safe Harbor Allowing Tax-Free Staking for Crypto ETPs. In the latest twist, the IRS has rolled out a tax-free staking “safe harbor” for crypto ETFs. So now you can stake to your heart’s content, knowing Uncle Sam won’t come knocking. For now, anyway.

UNI Token Soars 35% Following Fee Switch Proposal. Uniswap’s latest move has the market buzzing. A new governance proposal introduces a fee switch, effectively burning UNI tokens and boosting the price. It’s like they discovered the secret to crypto success-burn it, and people will buy it.

Charts

This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.

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2025-11-14 17:11