Bitcoin 
Ethereum 
Tether 
XRP 
BNB 
USDC 
Lido Staked Ether 
TRON 
Dogecoin 
Cardano 
Crypto majors are trading in the red after an overnight dip, with Bitcoin (BTC) down 1% at $104,800, Ethereum (ETH) down 1% at $3,550, Binance Coin (BNB) down 2% at $978, and Solana (SOL) down 3% at $163. Among top movers, Uniswap (UNI) surged 20% and Aerodrome (AERO) gained 16%, while Zcash (ZEC) tumbled 25% to $474 but remains up 16% on the week. The US Treasury and IRS issued new guidance making it easier for ETFs to stake crypto tokens and distribute rewards to investors. Uniswap also announced a major governance proposal to activate its fee switch, conduct an initial 100 million UNI token burn, and introduce several other changes, helping boost UNI by 20%. Meanwhile, the US Senate released its first draft of a crypto market structure bill, marking a significant step toward advancing regulatory clarity. In corporate news, Jack Dorsey’s Square revealed support for Bitcoin payments across its 4 million merchants, while Gemini’s stock dropped 12% after reporting a $159.5 million net loss for Q3.
💡 DMK Insight
Bitcoin’s recent dip to $104,800 could signal a critical support test for traders. With BTC down 1% and ETH following suit, the broader market sentiment appears shaky. This dip isn’t just a minor fluctuation; it raises questions about the sustainability of the recent bullish momentum. Traders should keep an eye on the $100,000 psychological level for Bitcoin, as a breach could trigger further selling pressure. Ethereum’s decline to $3,550 also puts it at risk of testing lower support levels. Meanwhile, the surge in Uniswap (UNI) and Aerodrome (AERO) indicates that while the majors are struggling, altcoins can still find momentum. This divergence suggests a potential shift in capital flow, where traders might rotate into altcoins for better returns. Here’s the thing: while the majors are facing headwinds, the altcoin market could present hidden opportunities. Watch for any signs of recovery in BTC and ETH, but also monitor UNI and AERO for continued strength. If BTC can hold above $100,000, it might stabilize the market, but a close below that level could lead to increased volatility across the board.
📮 Takeaway
Watch Bitcoin’s $100,000 support level closely; a breach could lead to increased volatility in the crypto market.
