Bitcoin steadies near $75,700 as fear stays extreme after tech rout
Bitcoin traded at $75,736, up 0.5% in 24 hours, while Ether gained 1.02%, altcoins lagged and the Fear & Greed Index held in extreme fear at 25.
Live chart · BTCUSD, ETHUSD, XRPUSD · TradingView
Bitcoin held in a tight band near $75,700, with no fresh shock to push it either way after this week's tech-led sell-off. Ether edged ahead of Bitcoin, while most other large tokens kept sliding and the Fear & Greed Index stayed in extreme fear.
Bitcoin
Bitcoin traded at $75,736, up 0.5% over 24 hours, according to CoinGecko data. It is down 2.02% over seven days. The 24-hour range was narrow, from $75,352 to $76,150. Spot volume was $15.9 billion.
The price is little changed from our previous recap, which had Bitcoin near $75,800. The bigger moves came earlier in the week. Decrypt reported that Bitcoin tested an 11-week low near $75,500 after AI stocks plunged, with more than $1 billion in crypto derivatives positions wiped out. Chart: BTC/USD.
Ether and the majors
Ether rose 1.02% to $2,238.63 and is almost flat on the week. That made it the strongest of the large coins. XRP, Solana and Cardano all carry weekly losses of 5% or more.
| Coin | Price (USD) | 24h % | 7d % |
|---|---|---|---|
| Bitcoin | 75,736 | +0.50 | -2.02 |
| Ether | 2,238.63 | +1.02 | -0.23 |
| BNB | 693.52 | -0.03 | -1.36 |
| XRP | 1.16 | -2.07 | -6.48 |
| Solana | 89.39 | -0.86 | -6.09 |
| Dogecoin | 0.071587 | -1.24 | -4.64 |
| Cardano | 0.181883 | -2.77 | -5.03 |
Breadth and sentiment
Total crypto market value stands at $2.561 trillion, down 2.66% over 24 hours, per CoinGecko. That drop is larger than the move in Bitcoin or Ether, which points to weakness beyond the two largest assets. Bitcoin dominance is 59.3% and Ether dominance is 10.7%.
The Crypto Fear & Greed Index reads 25, Extreme Fear. It was 28 a day earlier and a neutral 50 on 5 November. Before that, the index sat in fear every day from 31 October, between 26 and 37. The neutral reading after the US midterms proved short-lived.
What is driving the market
The main pressure remains the tech-stock rout. Decrypt reported that Bitcoin ETFs lost $430 million on Thursday, led by Fidelity and BlackRock funds. Strong US data added to the mood. CoinDesk reported that the US added 165,000 jobs in October against a 65,000 estimate, with unemployment falling to 4.1%. The dollar response is covered in our sister site's report on the dollar's best day since June after payrolls lifted Treasury yields.
New headlines since our last recap were mostly regulatory and legal:
- Iran-linked sanctions. Cointelegraph reports that the US sanctioned Canadian money-exchange firms over Iran ties. It also offers up to $20 million for information about Iran's nuclear program.
- eCash fork. According to Cointelegraph, eligible Bitcoin holders received an equivalent balance of ECX through the eCash fork. Questions remain over where the tokens can trade.
- Insider theft case. Cointelegraph reports that a former FBI counterintelligence agent stole almost $2.5 million in crypto.
- Prediction markets. Citing The New York Times, Cointelegraph reports suspicious bets placed shortly before two NYT/Siena polls were released.
- Tech and Washington. Cointelegraph reports, citing Semafor, that Nvidia may face a more adversarial post-election Washington. That matters for crypto because AI stocks have set the tone for risk assets this week.
What to watch next
- US inflation data. CoinDesk says the jobs beat puts a December rate hike in play, but next week's inflation numbers and the stock market could prove more important.
- Tech stocks and ETF flows. Further moves in AI shares and spot Bitcoin ETF flows, after Thursday's $430 million outflow reported by Decrypt.
- Hyperliquid broker bid. Decrypt reports that Hyperliquid Strategies applied to become a US futures commission merchant, pending regulatory approval.
- ECX trading venues. Whether exchanges list the eCash fork tokens, per Cointelegraph.
How we make this article: software gathers the market data and the news from the sources linked in the article, then cross-checks them. AI writes the text. People choose the sources, set the rules and run the process. Not investment advice.