The cryptocurrency market is currently grappling with a mix of concerning technical signals, extreme liquidation events, and fluctuating community-driven activities for major digital assets. Bitcoin, XRP, and Shiba Inu have each witnessed significant developments that are shaping their immediate price trajectories and market sentiment.

Bitcoin has recently flashed one of the most bearish signals on its price chart: a death cross. This occurs when the 23-day moving average (MA) bends down to collide with the 50-day MA. Should this cross confirm, it typically indicates a loss of control by buyers, leading to further price depreciation until the asset reaches its next major support level. Currently, that critical anchor is the 200-day MA, positioned at $100,483. Bitcoin is presently trading around $114,106, having seen an intraday dip below $113,000. Just two weeks prior, Bitcoin was pushing $124,000 before collapsing through $118,000 support, making the $119,991 level a strong overhead resistance. Subsequent rally attempts have weakened, turning the moving average curves into a potential trap. The primary risk isn't merely another dip, but the market's tendency to gravitate towards the 200-day MA when shorter averages signal a rollover. A descent to $100,000 would not be an anomaly but a consequence of chart dynamics, potentially negating the entire summer's gains and subjecting the broader bull narrative to intense scrutiny. However, Bitcoin has a history of making the death cross appear daunting only to reverse at the last moment; a sustained hold within the $112,000-$114,000 range in the coming days could invalidate the pattern and initiate a reversal before significant damage occurs.

In parallel, XRP experienced an extreme long wipeout, marked by an unprecedented liquidation imbalance in its derivatives market. CoinGlass data highlighted a staggering 101,445% liquidation skew between long and short positions, a phenomenon rarely observed. This immense hit overwhelmingly impacted bullish investors, with $4.21 million worth of XRP longs receiving margin calls, while short liquidations were a negligible $4,150. This dramatic skew underscored the excessively crowded nature of the long trade around XRP, rather than indicating the largest liquidation in terms of absolute dollar value. Following these events, XRP's price declined towards $2.83 after multiple failures to breach and sustain above the $2.88 resistance. Across the wider cryptocurrency market, total liquidations over the last 24 hours surpassed $475 million. Long positions accounted for a dominant $403 million of this total, significantly overshadowing the $72 million from shorts, with Ethereum seeing $10.81 million erased, Bitcoin losing $5.81 million, and Solana flushing out $1.82 million, pointing to widespread pressure.

Meanwhile, the Shiba Inu (SHIB) community has demonstrated significant activity in reducing its circulating supply. The daily burn rate for SHIB soared by an impressive 2,196.63% in 24 hours, as reported by the blockchain wallet tracker Shibburn. This surge was attributed to the community transferring 1,606,561 Shiba Inu tokens to unspendable blockchain addresses within a single day, with the largest individual burn contributing 1,192,392 SHIB. Despite this substantial daily increase, weekly burn figures revealed a 29% decline, even with a considerable 72,264,101 SHIB being permanently removed from circulation over the week, indicating a dynamic and sometimes fluctuating pattern in burn efforts.