Why Is Going Down Today? , , and Moves Under

Cryptocurrency markets are feeling the heat today, with hovering around $87,700 after a slight 0.2% dip, while , , and are posting modest losses. The broader market is caught in a tight consolidation phase ahead of the holidays, as 75% of the top 100 coins trade below their key moving averages. Regulatory fog and waning liquidity are key culprits dragging prices lower.

In this in-depth analysis, drawing from over a decade of trading and market insights, we’ll unpack why crypto is going down today. We’ll dive into the charts for BTC/USDT, ETH/USDT, XRP/USDT, and DOGE/USDT, spotlighting the ominous patterns and potential downside targets.

Market Snapshot: A Risk-Off Environment Takes Hold

The crypto market cap is stagnating, trapped in a holding pattern that’s testing trader patience. remains resilient but range-bound, while altcoins like (down 0.5% to $2,950), ($1.92), and ($0.13) show more vulnerability. This isn’t a full-blown crash—yet—but the technical setups scream caution.

• Total Crypto Market Cap: Sideways with fading volume.
• Top Coins Below MAs: 75% of top 100, signaling broad weakness.
• Volume: Thin holiday trading amplifies swings.

Primary Drivers: Regulatory Delays and Liquidity Crunch

Global risk-off sentiment is the backdrop, but specific triggers are accelerating the slide. Investors are sidelining crypto amid uncertainty over central bank policies and regulatory clarity.

US Senate Banking Committee Pushes Crypto Bill to 2026

The big news? The US Senate Banking Committee has shelved progress on a crucial crypto market structure bill, delaying hearings until early 2026. Chairman Tim Scott’s office noted ongoing bipartisan talks, but hurdles around financial stability, market integrity, and ethics persist. With a packed 2026 calendar—including government funding battles and midterm elections—clarity feels distant.

“The decline coincided with news that the U.S. Senate had delayed work on the long-awaited cryptocurrency market structure bill, postponing hearings until early 2026,” notes analyst Michał Stajniak from XTB.

Fading Liquidity in Thin Holiday Markets

Liquidity—the ease of buying or selling without major price impact—is drying up. Holiday thinned volumes mean even small sells create outsized moves. High-beta assets like suffer most, as risk appetite evaporates. Bitcoin price today reflects this caution, unable to break free from its multi-week range.

Portfolio manager Pratik Kala from Apollo Crypto captures the frustration: “Most are surprised by the lack of follow-through despite positive catalysts.” ETF approvals and regulatory wins haven’t sparked the rally many expected.

Bitcoin (BTC) Analysis: Looms Large

at $87,700 is glued to a mid-November consolidation range: resistance at $92,000–$94,000 (100% Fibonacci + 50-day EMA), support at $85,600–$84,000. But here’s the red flag—a formed on the daily chart a month ago (50-day MA crossing below 200-day MA), confirming bearish momentum.

Short-term: Expect sideways chop before holidays, then downside resolution. My target? This year’s lows near $74,000 for a healthy reset. A washout here could pave the way for re-accumulation and a push to new all-time highs medium-term.

Ethereum (ETH) Chart: Mirroring BTC’s Struggle

mirrors , down 0.5% for the fourth straight day to $2,950. It’s stuck in a local range with no buyer conviction. Resistance clusters at $3,350–$3,435 (moving average grid), support at $2,700 (61.8% Fibonacci + recent lows).

Bearish downtrend intact—watch for a drop to June’s $2,200 or even April’s $1,400 if macros sour. The setup echoes BTC, urging caution on longs.

XRP Price Breakdown: Testing Critical Supports

sits at $1.92, hugging November lows (also tested in June). A month-long consolidation tops out at $2.20–$2.30 (50-day MA). Another dominates, with downtrend in control.

Break below local support? Path clears to April’s $1.61, then October flash crash lows at $1.25. Regulatory delays hit XRP hard, given its legal battles history.

Dogecoin (DOGE): Meme Coin Magnifies the Pain

Saving the wildest for last, at $0.13 has shattered key supports at $0.14–$0.15 and early-month lows. Now testing April 7, 2025 lows—lose this, and sub-$0.10 beckons, targeting October flash crash at $0.09 (September 2024 levels).

As the meme coin OG, DOGE’s high-beta nature means it amplifies market weakness in low-liquidity environments. Sentiment-driven, it’s a canary in the coal mine.

Downside Targets if Supports Crack

What Could Spark a Crypto Recovery?

Not all doom—recovery hinges on:

• Equity market stabilization.
• Clearer central bank easing signals.
• Subsiding forced liquidations.
• Spot buying from long-term holders.

A dip to yearly lows could flush weak hands, setting up stronger rallies. Watch for bullish divergences or MA realignments as reversal clues.

Final Thoughts: Stay Vigilant in Consolidation

Today’s crypto dip—driven by regulatory stalls, thin liquidity, and warnings—is a classic consolidation fatigue play. , , , and charts point to more downside before upside potential unlocks. With over 10 years in the trenches, I’ve seen these setups precede explosive moves—position accordingly.

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