The cryptocurrency market is navigating a week marked by general stability but punctuated by enough volatility to keep traders attentive, particularly concerning leveraged positions. The total market capitalization currently stands at approximately $4.52 trillion. Bitcoin is holding around $121,800, while Ethereum is valued at about $4,336, with both major cryptocurrencies experiencing short-range movements after significant swings yesterday. A consistent driver for the underlying market demand remains the daily inflows into spot ETFs, with Bitcoin funds attracting $440.7 million and Ethereum funds adding $69 million on Wednesday, providing a continuous bid despite short-term fluctuations.

From a macroeconomic perspective, the landscape remains largely unchanged and, for some traders, even favorable. The ongoing United States government shutdown is perceived by many as a positive, as it implies fewer unexpected headlines that could rattle markets. Furthermore, the Federal Reserve minutes reaffirmed its readiness to continue lowering interest rates, a sentiment generally welcomed by risk assets. However, a potential geopolitical headline risk looms with Friday's Nobel Peace Prize announcement, which, while not a direct market event, could influence oil, energy, or currency markets given current global sensitivities.

Bitcoin's price is currently trading at $121,841, following a failed attempt yesterday to sustain higher levels. Derivatives data reveals a balanced battle in the past 24 hours, with approximately $64.8 million in Bitcoin long positions liquidated against $64.5 million in shorts. However, zooming into the last 12 hours across the broader market, the picture shifted dramatically, indicating a significant dump where bulls bore the brunt of the pain, with $301.9 million in long liquidations compared to $55.4 million in shorts. For today, the critical support level for Bitcoin is $121,100; a breach of this level could open a slide towards $119,800. On the upside, a clear break above $122,800 is necessary to pave the way back to $124,500.

Ripple's chief executive, Brad Garlinghouse, made a significant statement at Pantera Capital’s Blockchain Summit 2025, declaring that the anticipated $1 trillion stablecoin era represents “the future re-wiring of the financial system.” This projection aligns with a Standard Chartered report forecasting a shift of $1 trillion from traditional banks into dollar-backed stablecoins over the next three years. Ripple’s development of its RLUSD token is strategically positioned to capitalize on this impending financial paradigm shift.

The price of XRP is at $2.80, but it faces extended risk down to $2.64, which is the 200-day moving average. The token has been under considerable selling pressure, losing nearly all its September gains and experiencing a market capitalization decrease of approximately $6 billion. Technically, XRP made a brief attempt to breach a descending trendline in early October but was swiftly rejected and pulled back towards its crucial 100-day EMA, currently at $2.85. This level is a critical defense against a deeper breakdown, with the 200 EMA near $2.63 being the next target. Volume indicators point to declining investor confidence, as buying volume lags behind persistent selling spikes, and the Relative Strength Index (RSI) has moved into neutral territory, signaling a complete dissipation of late-summer bullish momentum. A consistent defense of the 100 EMA is vital; a daily close below it would indicate a shift from consolidation to a fresh downward trend.

BNB has experienced an almost vertical growth trajectory in recent weeks, soaring to approximately $1,310 and entering a euphoric phase, marking one of its most spectacular rallies in 2025. This surge is primarily attributed to growing demand within the Binance ecosystem and strong speculative momentum. While the token has consistently used its 20-day EMA as dynamic support, recent candles display signs of exhaustion, with large volume spikes and extended upper wicks suggesting short-term profit-taking as the asset nears overbought levels. The RSI, currently around 78, confirms BNB is in the overbought zone. Immediate resistance is found near $1,400, with a psychological barrier at $1,500. A sustained break above these levels could clear the path to the much-anticipated $2,000 target. However, increased profit-taking could lead to a retest of support zones at $1080 and $960, where the 50-day EMA converges with prior consolidation areas. Such a correction, after months of continuous gains, would likely signify a cooling phase rather than an end to the broader uptrend.

Shiba Inu (SHIB) is facing significant bearish sentiment, trading at $0.00001199 and precariously close to what could be its 2025 bottom. After multiple failed recovery attempts, SHIB is on the verge of breaking crucial support zones that have sustained it for months. The token’s inability to challenge the 200 EMA and frequent rejections near the 100 EMA highlight the dominance of bears. A clear breakdown below the $0.0000120 region could lead to new annual lows, potentially marking its 2025 bottom, erasing all of its 2024 gains, and jeopardizing its long-term sustainability as a speculative asset. Volume data supports increasing vulnerability, with decreasing bullish participation and sustained high sell volume. The RSI at 45 indicates a loss of upward momentum without reaching deeply oversold conditions, suggesting further downside is possible. Unless buyers quickly step in, SHIB may soon drop to $0.0000115 or even $0.0000105, which could effectively signal the end of its speculative euphoria.

Elsewhere in the market, Ethereum is trading at $4,336 after a 3% drop, with $3,180 being a strong support level and resistance at $3,320-$3,400. Solana is quoting $221.7, maintaining above the $220 handle, with support at $218 and resistance around $225. Daily liquidations remain a notable factor across the market; Bitcoin saw about $129 million in total liquidations, Ethereum had $122 million in long liquidations, XRP saw $11.8 million in long liquidations, Solana recorded approximately $17.2 million in long liquidations, and Shiba Inu experienced $11.3 million in long positions wiped out.