BTC, XRP, ETH News: Bitcoin price reverses early gains as Nasdaq futures wilt

What It Means for BTC, XRP, and ETH

Bitcoin has been on a rollercoaster lately, and today’s action is no exception. After teasing a breakout above $90,000 earlier in the Asian session, , dragging major altcoins like XRP and ETH down with it. As of now, BTC sits at around $87,242, while XRP hovers near $1.85 and ETH at $2,937. This sudden pullback has traders on edge, especially with traditional markets signaling caution.

The Price Action Breakdown

The leading cryptocurrency by market cap climbed above $90,000 during early Asian trading, sparking brief optimism across the crypto space. Altcoins joined the party: XRP pushed toward $1.85, ETH neared $2,940, Solana (SOL) hit $123, and even Dogecoin (DOGE) edged up to $0.123. The CoinDesk 20 Index (CD20), which tracks the top digital assets, surged to 2,789 before retreating to 2,726.

But the rally fizzled fast. BTC dipped below $88,000, and the broader market followed suit. This isn’t isolated—it’s tied to macroeconomic cues. Futures for the Nasdaq 100, Wall Street’s tech bellwether, are down 0.5% as trading approaches, foreshadowing a rocky open for stocks.

• BTC: $87,242 (down from $90k high)
• XRP: $1.854 (retracing gains)
• ETH: $2,937 (mirroring BTC weakness)
• SOL: $123.18
• DOGE: $0.123

Why the Correlation with Nasdaq Matters

Crypto and stocks, particularly tech-heavy indices like the Nasdaq, have been dancing in sync for months. This positive correlation strengthens during Nasdaq downturns, as noted by market makers at Wintermute. When tech futures wilt, risk assets like BTC take a hit. Investors rotate out of high-volatility plays into safer havens, amplifying the pressure on cryptocurrencies.

Today’s Nasdaq weakness stems from broader concerns: inflation data, Fed rate cut expectations, and year-end portfolio rebalancing. Crypto, often viewed as a high-beta asset, feels the pinch first.

Traders Dial Back Leverage Amid Pullback

The reversal prompted a quick unwind in futures markets. Global open interest in BTC futures dropped from a peak of 540,000 BTC to around 533,000 BTC, per Coinglass data. Earlier, it had risen from 524,000 BTC as prices climbed toward $90k.

This scaling back of leveraged positions is a classic risk-off move. Long liquidations could accelerate if BTC tests key supports below $87,000. Watch the $84,000-$85,000 zone—breaking it might open the door to $80k.

U.S. Hours Underperformance: A Persistent Trend

One pattern stands out: crypto’s weakness during U.S. trading hours. Last week, BTC and ETH shed over 3% in that window, only to rebound in Asia. Analysts point to year-end tax-loss harvesting as the culprit. With crypto lagging global assets in 2025, investors are selling to book losses before the deadline.

“An interesting trend to take note of has been the distinct underperformance during the US timezone… driven most likely by selling pressure coming from the year-end tax harvesting flow,” note experts from Laser Digital.

Asian hours provide relief, buoyed by regional buying and lower U.S. influence. If this holds, expect choppy action until tax season wraps up.

Bullish Long-Term Outlook Despite Short-Term Noise

Not all is doom and gloom. Elliott Wave specialist and Ledn CIO John Glover remains optimistic. “The Bitcoin price chart looks very promising for higher prices in the future, but less certainty in the near term,” he shared. Glover eyes sideways-to-lower trading in the weeks ahead, with prime buying opportunities between $71,000 and $84,000.

This aligns with technicals: BTC’s structure suggests accumulation before the next leg up. Macro tailwinds—like potential rate cuts and ETF inflows—could fuel a 2026 rally.

State of the Blockchain 2025: L1 Tokens Lag Despite Progress

Zooming out, 2025 has been a tale of two realities for blockchains. Layer-1 (L1) tokens broadly underperformed, even as networks hit regulatory wins and institutional milestones. Total Value Locked (TVL) rose across major ecosystems, but prices stayed flat or negative for most large-caps.

Key trends:

1. Structural Decoupling: Network usage boomed, but token prices decoupled from fundamentals.
2. Revenue Splits: Protocol fees vs. app revenues varied wildly—Ethereum still dominates, but challengers like Solana gained ground.
3. Institutional Mechanics: Custody solutions, staking yields, and compliance drove adoption.
4. Ecosystem Narratives: DeFi maturation, AI integrations, and RWAs (real-world assets) defined the year.

Heading into 2026, watch for convergence: Will usage finally lift prices? Ecosystems like Ethereum, Solana, and emerging L1s are primed for rotation.

Aptos (APT) in Focus

Amid the sea of red, Aptos’ APT token declined on below-average volume. It finds support at $1.69 and resistance at $1.80. Low volume suggests limited conviction— a bounce or further fade could signal broader altcoin sentiment.

What to Watch Next for BTC, XRP, ETH

Key Levels:

• BTC Support: $84k, $80k | Resistance: $90k, $95k
• XRP: $1.80 resistance key for breakout
• ETH: $2,900 hold vital; $3,000+ targets upside

Monitor Nasdaq opens, U.S. economic data, and on-chain flows. A Nasdaq rebound could spark crypto recovery, while prolonged weakness might test lower supports.

In summary, today’s is a reminder of crypto’s ties to traditional markets. Short-term caution prevails, but the long-term bull case for BTC, XRP, ETH, and beyond remains intact. Stay tuned for more BTC, XRP, ETH news as markets evolve.

Price data as of publication; markets move fast—DYOR.

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