The Bitcoin market stands at a critical juncture, as it currently hovers above 
its $85,000 psychological level. Aside from its psychological validity, this 
key support also appears to hold technical importance. Hence, its strength 
could be tested before the market shows directional momentum. However, a 
recent analysis has surfaced that paints a grim picture for the flagship 
cryptocurrency’s future. Related Reading: Bitcoin Supply Overhang: 6.6 Million 
BTC Bought Above Current Price Descending Triangle Forms Near $85,000 Support 
In a recent post made on QuickTake, CryptoOnchain reveals that there has been 
the appearance of a classic technical pattern, indicative of an asset&#8217;s 
bearish continuation intent. This pattern, which is present on the Bitcoin 
daily timeframe, is characterized by a sequence of lower swing highs, with 
price compressing against a horizontal support acting as the triangle&#8217;s base. 
Interestingly, a price level, known as the Point Of Control (POC) — wherein 
lies the highest traded volume — also sits near the $85,000 support. This 
further reinforces the significance of the price level. If this price level 
were to be breached decisively, the Bitcoin price could see a rapid downward 
movement, seeing as liquidation and capitulation events would likely follow. 
Notably, heightening downward pressure might be seen if very little or no 
demand comes into play to reassert bullish momentum. Related Reading: 
Ethereum’s 2026 Overhaul Aims To Cut Costs, Boost Speed, Limit Censorship 
Exchange Activity Drops To Multi-Year Lows CryptoOnchain supports his bearish 
hypothesis with another notable on-chain observation. The indicator here is 
the Bitcoin Exchange Withdrawing Transactions (7-day Moving Average) metric, 
which keeps tabs on the number of on-chain withdrawal transactions made from 
cryptocurrency exchanges over a period of seven days. The analyst highlights 
that the metric&#8217;s readings have fallen to levels around 5,000, the lowest seen 
since 2016, about nine years ago. Interestingly, this current level falls 
short of the readings put in during previous bear markets (in 2018, 2020, and 
2022). Exchange withdrawal activity offers insight into investor conviction 
and accumulation behavior. Rising withdrawal activity signifies growing 
accumulation appetite and increasing confidence, as coins sent out of 
exchanges are usually kept in private wallets. On the flipside, this 
significant fall in exchange withdrawal activity points to a deep feeling of 
disinterest among Bitcoin investors, or a lack of conviction that is important 
for long-term holding. Aside from the evident lack of urgency to acquire coins 
into private wallets, the low readings from this metric reveal that investors 
are also not actively accumulating BTC. The analyst concludes that “the data 
suggests widespread skepticism or exhaustion, with real, non-speculative 
demand largely absent.” If the $85,000 support fails, the lack of interested 
buyers could cause Bitcoin&#8217;s price to fall rapidly. As of press time, Bitcoin 
holds a value of $87,410, with no real movement since the past 24 hours. 
Featured image from Pexels, chart from Tradingview

Bitcoin To Retest $85,000 As Bearish Technicals And On-Chain Weakness Align

Coinbase CEO Brian Armstrong warned that reopening the GENIUS Act would cross 
a “red line,” accusing banks of lobbying Congress to block stablecoin rewards 
and limit competition.

Coinbase CEO says reopening GENIUS Act is ‘red line,’ slams bank lobbying

Bitcoin’s resilient basis rate and options data suggest limited downside 
despite ETF outflows, while BTC waits for a catalyst that can help it reclaim 
$90,000.

No $90K Bitcoin till next year: BTC futures open interest hits 8-month low

XRP’s open interest has reportedly crashed to lows not seen since last year, 
when the altcoin surged by around 600%. On-chain analytics platform 
CryptoQuant noted that this development could be bullish for XRP as it looks 
to rebound to new highs. XRP’s Open Interest Drops To Lowest Level Since 2024 
In a blog post, CryptoQuant analyst Arab Chain revealed that XRP’s open 
interest on Binance has fallen to its lowest level since 2024. The analyst 
noted that analysis of XRP Ledger data on the crypto exchange shows a clear 
rebalancing in the derivatives market, with open interest falling to almost 
$453 million, the lowest level since the end of last year. Related Reading: 
Why You Should Pay Attention To XRP’s Exchange Netflows This Month Arab Chain 
noted that this development reflects a fundamental shift in trader behavior 
and confirms a significant decrease in leverage usage compared to previous 
periods. Notably, the XRP price looks to have been fueled by leverage in the 
early parts of this year. The analyst noted that open interest in XRP futures 
contracts exceeded $1 billion on several occasions, which coincided with 
strong price surges. The XRP open interest also rose again in mid-2025 to 
levels similar to those recorded in the early months of the year, sparking 
significant volatility for XRP. However, Arab Chain noted that the current 
landscape is “markedly different.” Open interest has declined gradually and 
then sharply, indicating a significant exit by short-term speculators. 
Meanwhile, the analyst explained that the decrease in XRP open interest 
carries dual implications. The first is that the decline in risk appetite and 
weakening momentum in the derivatives market explain the volatile price 
behavior in the absence of strong, liquidity-driven breakouts. The second is 
that the contraction represents a healthy structural development, as it 
reduces the risk of forced liquidations and mitigates the abnormal pressures 
associated with excessive leverage. Arab Chain noted that periods of low open 
interest often represent transitional phases, during which the market shifts 
froma highly speculative environment to a calmer one that relies heavily on 
genuine spot demand. XRP May Be Preparing For Another Significant Rally Crypto 
analysts have suggested that XRP may be preparing for another significant 
rally, although it remains to be seen if it could rally 600% like last year. 
In an X post, crypto analyst Niels stated that the altcoin is forming a higher 
low around this level. He noted that this is a similar structure that happened 
in April this year, before a new all-time high (ATH). The analyst added that a 
push above $2 could put the bulls in control. Related Reading: XRP Stochastic 
RSI Just Touched 0.0 For The Second Time In History Crypto analyst Chart Nerd 
predicted that XRP could reach a new ATH on its next leg to the upside. This 
came as he noted that the altcoin was in the middle of an ABC reset. His 
accompanying chart showed that XRP could reach as high as $4.5 on this 
impulsive move to the upside, which is expected to happen in the first half of 
next year. At the time of writing, the XRP price is trading at around $1.84, 
down in the last 24 hours, according to data from CoinMarketCap. Featured 
image from Getty Images, chart from Tradingview.com

XRP Open Interest Crashes To Levels Not Seen Since 2024, Can It Also Rally 600%?

Popular crypto analyst PlanD has drawn attention to a key development on the 
Bitcoin price chart, and identifies a pivotal development around $90,650 price 
level. Notably, the premier cryptocurrency has struggled to break past the 
$90,000 price region since crashing below the price zone in mid-December. 
Related Reading: Bitcoin Supply Overhang: 6.6 Million BTC Bought Above Current 
Price Bitcoin Set For Potential Rally To $97,000 On Resistance Break — Analyst 
In an X post on Friday, PlanD explains that an ascending chart pattern is 
forming on the BTCUSD 4-hour chart following the price action of last week. 
For context, the rising or ascending triangle formation is a bullish chart 
pattern that forms when the price makes higher lows while repeatedly facing 
resistance at a relatively flat horizontal level. In technical analysis, the 
ascending triangle formation primarily signals growing buying pressure and a 
potential upside breakout. According to PlanD, the flatline resistance aligns 
with $90,650 after two price rejections, making this level a critical breakout 
point in the present price structure. Upon the likely event that the market 
bulls conquer this price level, the analyst postulates that Bitcoin would 
experience a forceful price surge into the upper band of the $93,500 to 
$97,000 price region. This reactive price rise can be attributed to the 
potential short-squeeze that will be created when the short positions around 
the resistance region are forcefully closed by the price breakout. However, 
PlanD warns traders and investors should only interpret this price gain as a 
“short-term stop hunt/relief rally” rather than a structural trend reversal 
following Bitcoin bearish fortunes in Q4 2025. The seasoned analyst advocates 
for a cautious market stance, stating that investors should prepare for a 
position reassessment at $97,000 unless the price decisively moves above this 
target. Related Reading: Bitcoin Funds See Significant Net Outflows Heading 
Into Year-End – What’s Going On? Bitcoin Market Overview At the time of 
writing, Bitcoin trades at $87,661 following a minor decline of 0.18% in the 
past day. Meanwhile, daily trading volume is up by 133.35%, suggesting 
increased trader activity and positioning ahead of a potential major price 
move. Interestingly, analysts of both sentiment camps have reiterated their 
positions in recent days. Prominent market expert Ali Martinez is convinced 
that the bear market began after Bitcoin reached its all-time high of $ 
126,100 in early October. According to Martinez, the market is currently in a 
phase of complacency, where investors continue to anticipate another price 
surge instead of actively de-risking or reducing their positions. From the 
bullish camp, analyst Ash Crypto states the bull market run remains active, 
considering the price surge and new all-time highs in commodities markets such 
as gold and silver. The pundit expects an eventual rotation of capital from 
these markets into Bitcoin, with price targets set at $150,000 in the new 
year. Featured image from Pexels, chart from Tradingview

Cryptocurrency price in VEF