Crypto markets stumbled despite the Fed’s first 2025 rate cut, with Bitcoin hitting a wall around $120K as massive long liquidations—the biggest of the year—rattled investors. Whale moves, an S&P 500 record, and a breakdown in the Bitcoin-gold correlation all added to the volatility, even as institutions quietly accumulated on dips.
Altcoins have been under pressure (TOTAL2’s back at prior highs, Altcoin Season Index down to 65), but Q4 catalysts like altcoin ETFs and the CLARITY Act could spark a rebound. Key names to watch: Chainlink (LINK) on gains from a Dept. of Commerce partnership, XRP eyeing a 26% upside from its last peak, Avalanche (AVAX) outlook, Ethena (ENA) breakout potential, and ongoing Ethereum structure concerns—all hinging on liquidity dynamics and shifting market sentiment.
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