After a strong rally across the crypto market, Bitcoin and major altcoins like XRP and Ethereum are seeing a healthy breather—one that looks more like consolidation than capitulation. While the top 100 tokens are mostly flashing red today, this comes after weeks of explosive gains and is largely driven by profit-taking at key resistance zones. The broader sentiment remains bullish, with the Crypto Fear & Greed Index still sitting firmly in “greed” territory at 70—the highest since July 12. Over on Decrypt’s Myriad prediction market, more than 70% of participants still bet on Bitcoin touching $125K before dipping to $105K, reinforcing long-term optimism.
Fundamentally, little has changed to rattle the bulls. JP Morgan’s ongoing push into crypto-backed loans adds institutional credibility to assets like Bitcoin and XRP, treating them as viable collateral. The recently passed GENIUS Act is also a game-changer, offering long-awaited regulatory clarity for stablecoin issuers in the U.S.—a move many expect will unlock significant institutional inflows. Bitcoin’s latest pullback to $117,763 (-1.87%) after failing to break $121K appears technical in nature, not emotional. The price remains comfortably above major support zones, suggesting bulls are simply refueling before the next leg up.