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Tuesday morning brings nothing but more turbulence to the crypto market. Bitcoin trades at $108,097, dragged down by another round of ETF outflows. Ethereum suffered even heavier losses, with $145.7 million leaving its spot funds.
At the same time, Elon Musk's SpaceX suddenly transferred $268 million in BTC across two dormant wallets — the first large transfer in three months.
For XRP, a necessary part of every crypto outlook, a violent reversal was staged as the price jumped from $1.90 to $2.50 after retail sentiment collapsed to a nine-month low — a setup one may call a textbook capitulation.
Binance Founder Changpeng Zhao, however, remains a "permabull" and stunned the crypto space with a bold call, declaring that Bitcoin will overtake gold’s $30.1 trillion capitalization.
Finally, $321.3 million in liquidations once again expose overleverage, and with the Fear & Greed Index stuck at 34, the market is beginning the U.S. session on edge.
Bitcoin price: Is $108,000 BTC legit, while ETFs bleed?
Bitcoin begins the day at $108,097, down 2.4% over 24 hours, after another brutal rejection at $110,500. The structure is fragile with support just above $107,000, and $104,000 is the next clear target if selling accelerates. On the upside, only a clean break above $115,400 can reset the chart.
Unfortunately, pressure is coming from ETFs. Spot Bitcoin products saw $40.5 million in outflows yesterday, bringing total net assets down to $149.7 billion. Earlier in the year, strong inflows carried Bitcoin to its local high near $115,000. Now, consistent outflows indicate that institutions are trimming exposure, a trend that puts confidence at risk in the short term.
The derivatives market only adds to the weakness. In just the past day alone, $88.9 million in Bitcoin longs were liquidated, part of $321.3 million across the market. Most of the pain came from overleveraged longs that rushed in on the dip. For now, the market keeps rewarding caution and punishing impatience.
Elon Musk's SpaceX transfers $268 million BTC
On-chain analysts spotted a big move from SpaceX wallets: 2,495 Bitcoin worth $268 million were transferred into two fresh, inactive addresses — the first major transfer linked to SpaceX in three months.
The structure echoes July, when SpaceX ran coins through Coinbase Prime in what analysts described as internal treasury optimization. The newest move looks similar, but caution is understandable.
In a week already defined by ETF redemptions and liquidations, news that a Musk-connected company moved a quarter-billion dollars in Bitcoin cannot help but feed speculation. Until those coins reach trading venues, the event is bookkeeping rather than market supply — but the timing alone heightens tension.
XRP price goes green, despite retail panic
XRP had one of the week's biggest reversals. After dropping below $1.90, the token bounced back to $2.50, and it is currently trading between $2.41 and $2.53. The turnaround was not random. Santiment data shows retail sentiment dropping to the lowest point in nine months, which on-chain analysts call classic capitulation.
The psychology was clear: as weaker holders sold out in fear, stronger hands absorbed supply. The overall feeling was quite negative, but the price did the opposite. This counter-trend is often a sign that XRP has reached a local bottom, and it did once again yesterday.
Technically, XRP is boxed in. Support is between $2.35 and $2.40, and resistance is at $2.76. If it breaks out above the resistance, it could run toward $3.00. If XRP does not manage to hold $1.98, there is a risk of another collapse. What makes this bounce notable is its base: not euphoria, but exhaustion.
Binance founder calls for Bitcoin to surpass gold
Binance Founder Changpeng Zhao has reminded crypto fans that this is a long game, and eventually, Bitcoin will probably be more popular than gold. "It might take a while, but it'll happen. Save the tweet," he wrote.
Right now, Bitcoin's market cap is about $2.2 trillion, which puts it in eighth place in the global ranking. Amazon is worth $2.3 trillion. Silver is close to $3 trillion. Microsoft and Apple are both worth over $3 trillion. Gold is still far ahead of everything with $30.1 trillion.
For Bitcoin to overtake gold, the market cap would have to grow by more than 1000%, which would put the price at over $1,000,000 per coin. Skeptics call it fantasy, saying it is about regulation and infrastructure.
Zhao's call did not come in a bull run. It landed while ETFs lost $40.5 million, Ethereum funds lost $145.7 million and the Fear & Greed Index was at 34. The thing is, timing is everything — throw that one-million-dollar target back into the mix while everyone else is looking at red candles.
Evening outlook
- Bitcoin: Must defend $107,000-$108,000 to avoid another wave of long liquidations. Resistance remains at $110,500 and $115,400.
- Ethereum: Spot ETFs lost $145.7 million in one day, cutting assets to $26.8 billion. Meanwhile, Bitmine-linked wallets accumulated 63,095 ETH ($250 million), raising total holdings to $12.56 billion. Support at $3,800, resistance at $4,200.
- XRP: Contrarian rebound holds between $2.41 and $2.53. Watch $2.76 as breakout level toward $3.00, with $1.98 as downside risk.
- Market sentiment: Fear & Greed Index prints 34, firmly in "Fear." Liquidations in the past 24 hours reached $321.3 million, including $246.3 million in longs.
- Altcoins: Solana saw $16.5 million in liquidations, showing that leverage risk remains elevated outside the majors.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team