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Bitcoin bleeds for second straight day, nearly grazes $72,000

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Bitcoin signage in Times Square in New York, US, on Tuesday, Dec. 9, 2025.

Michael Nagle | Bloomberg | Getty Images

Bitcoin nearly touched the $72,000 mark on Wednesday, marking the second straight day of its massive retreat this week.

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The world’s oldest cryptocurrency sank as low as $72,096.20, plunging more than 5% on the day. It was last trading at $72,958.38, down about 4% on the day. Bitcoin is currently more than 40% off its record high of about $126,000 hit last October.

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Bitcoin in the past day, per Coin Metrics

Bitcoin first broke below the $73,000 mark on Tuesday, hitting its lowest price in roughly 16 months and approaching its pre-election value. Analysts say $70,000 is a key level to watch as the digital asset’s downturn deepens, according to a Citi note to clients dated Tuesday.

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The token’s value is bleeding as a result of several of geopolitical and economic challenges, among other headwinds.

Chief among them is investors’ recent rotation out of risk-on assets due to rising tensions between the U.S. and Europe over U.S. President Donald Trump‘s Greenland gambit and a recently ended partial government shutdown that delayed the release of some critical economic data. Also at play are expectations of a U.S. monetary policy shift following Trump’s nomination of Kevin Warsh for Fed chair late last month as well as a slowdown in efforts to create more crypto-friendly regulatory and legislative guardrails in the U.S.

Large institutional outflows driven by expectations of a deeper bitcoin correction has also thinned liquidity for the token, hurting its price, according to a recent analyst note from Deutsche Bank.

Spot bitcoin exchange-traded funds have seen significant outflows since a series of liquidations of highly leveraged digital asset positions last October, the analysts noted. The funds have recorded outflows of more than $3 billion in January, roughly $2 billion last December, and about $7 billion last November.  

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Bitcoin’s pullback hit several crypto stocks. Strategy, a bitcoin treasury firm, was also down 5% on the day, while digital asset mining names like Riot Platforms and MARA Holdings shed almost 11%.

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Crypto World

XRP Targets 2026 Highs After Binance Flows Flash Bull Market Signal

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Cryptocurrencies, Adoption, XRP, Markets, Derivatives, Financial Derivatives, Binance, Price Analysis, Futures, Market Analysis, Altcoin Watch

XRP (XRP) has consolidated within a tight price range below $1.40 over the past 20 days, but new data suggests it may be poised for a bullish breakout after a shift in Binance activity signals reduced sell-side pressure. 

Binance’s withdrawal and deposit activity is flashing a setup that mirrors June 2025, when the altcoin embarked on a rally to $3.65.

Cryptocurrencies, Adoption, XRP, Markets, Derivatives, Financial Derivatives, Binance, Price Analysis, Futures, Market Analysis, Altcoin Watch
XRP/USDT on the one-day chart. Source: Cointelegraph/TradingView

XRP Binance deposits drop to 2025 lows

Crypto analyst Amr Taha noted a shift in XRP activity on Binance, with transaction flows moving away from deposit-heavy behavior. The seven-day average shows XRP withdrawals rising to 53% while deposits dropped to 46%, returning to the levels last seen in June 2025.

Cryptocurrencies, Adoption, XRP, Markets, Derivatives, Financial Derivatives, Binance, Price Analysis, Futures, Market Analysis, Altcoin Watch
Binance daily deposit/withdrawal transactions. Source: CryptoQuant

That prior setup aligned with a 65% XRP rally to all-time highs of $3.65 in July 2025, placing the current shift on traders’ radar.

The falling deposit activity signals fewer coins moving onto exchanges, while rising withdrawals indicate assets leaving exchanges. This reduces immediate sell-side pressure if sustained over multiple trading sessions.

Currently, XRP flow on Binance is no longer dominated by incoming supply. This indicates a change in trader positioning, with fewer participants preparing to sell into the market.

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Meanwhile, liquidity has contracted sharply. CryptoQuant data shows XRP’s 30-day liquidity index on Binance dropping to 0.053, the lowest level since 2021. The 30-day trading volume stands at nearly 3.77 billion XRP, marking one of the weakest periods of activity in recent years.

Cryptocurrencies, Adoption, XRP, Markets, Derivatives, Financial Derivatives, Binance, Price Analysis, Futures, Market Analysis, Altcoin Watch
XRP Binance liquidity index. Source: CryptoQuant

The price action aligns with this slowdown. XRP trades near $1.38 with limited movement over the past three weeks, consistent with a quieter order book and reduced trader participation. These lower-liquidity phases may coalesce momentum and precede a stronger directional move once activity returns.

Related: Bitcoin’s struggle to build long-lasting uptrend continues: Here’s why

XRP traders position in futures markets

While XRP price consolidates, onchain data shows an aggregated spot cumulative volume delta (CVD) of -$153 million and a futures CVD near -$295 million, pointing to a reduction in aggressive selling.

Cryptocurrencies, Adoption, XRP, Markets, Derivatives, Financial Derivatives, Binance, Price Analysis, Futures, Market Analysis, Altcoin Watch
XRP price, aggregated open interest, funding, spot, and futures CVD. Source: velo.chart

The buy-side activity has not expanded, keeping the price movement muted. The funding rates have turned slightly positive at 0.06%, signaling a mild long bias.

Open interest has climbed to nearly $769 million, suggesting fresh positions are entering the market.

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Cryptocurrencies, Adoption, XRP, Markets, Derivatives, Financial Derivatives, Binance, Price Analysis, Futures, Market Analysis, Altcoin Watch
XRP/USDT on the one-day chart. Source: Cointelegraph/TradingView

From a technical perspective, a daily close above $1.40 opens the door to $1.60–$1.67. That $1.40 level also aligns with the 50-day moving average, which may flip into support on a bullish breakout.

The liquidation data shows roughly $250–$300 million in cumulative long/short positions at risk within a 10% move in either direction. Compared to larger assets like BTC (BTC) and Ether (ETH), the liquidity is relatively small, suggesting lower trader participation near $1.40.

Related: XRP Ledger taps Boundless for bank-grade privacy on public blockchains