The cryptocurrency market fell over 1% in the past 24 hours as bearish sentiment persisted despite positive macroeconomic developments. Markets also experienced volatility ahead of the upcoming FOMC meeting as traders remain cautious. As a result, Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies remained in the red. BTC traded around $116,000 on Tuesday. However, it lost momentum early on Wednesday and dropped to a low of $112,255 before moving to its current level. BTC is down 1% in the past 24 hours, trading around $112,844.
Meanwhile, ETH is down over 2%, trading around $4,016. The world’s second-largest cryptocurrency has struggled to retain momentum with selling pressure returning after it briefly crossed $4,150 on Wednesday. Ripple (XRP) is down 0.50%, while Solana (SOL) is down over 3%, trading around $194. Dogecoin (DOGE) is down 3% and Cardano (ADA) is down 2.35%, trading around $0.643. Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) also registered substantial declines over the past 24 hours.
France Considering Proposal to Adopt Bitcoin (BTC) And Stablecoins
France is reviewing a proposal to adopt Bitcoin (BTC) and stablecoins while rejecting the European Central Bank’s digital euro. According to a motion led by Éric Ciotti from the Union of the Right for the Republic, France could allocate 2% of its reserves, around $48 billion, to BTC. The motion also recommends allowing cryptocurrencies, such as BTC, to be used as institutional collateral and revising EU financial regulations to support broader cryptocurrency integration.
“A pro-crypto bill will be tabled today in the French Parliament. This is the first time such a comprehensive text on the subject has been proposed in France.”
If the proposal is approved, France would become the first European nation to formally endorse and approve a Bitcoin reserve. The motion is also a sign of rising political support for BTC.
US Stocks Rally Ahead Of Fed Rate Cut Decision
Wall Street was in good spirits on Tuesday as the Dow Jones Industrial Average rose by over 150 points, while the S&P 500 and Nasdaq soared to record levels, thanks to a Microsoft-OpenAI deal. The Federal Reserve’s decision on interest rate cuts is expected today, pushing investor sentiment into positive territory. As a result, the Dow Jones Industrial Average rose 150 points while the benchmark S&P 500 rose 0.4% and the tech-heavy Nasdaq Composite rose 0.8%. The gains are thanks to a positive reaction to a potential US-China trade deal, with Wall Street stocks also inching towards another bullish close.
Nvidia, Apple, and Microsoft traded in positive territory as positive market sentiment pushed the three major indexes towards record highs. The three tech giants also reported key developments, with Nvidia's Chief Executive Officer Jensen Huang highlighting a “turning a corner” outlook for the company. A $1 billion stake in Nokia also boosted intraday gains. Microsoft shares also rose 2% as the market responded positively to a deal between Microsoft and OpenAI. Apple shares also rose, pushing the iPhone maker past the $4 trillion market valuation mark.
Western Union Taps Solana For Stablecoin, Crypto Network
Western Union has chosen the Solana blockchain for its upcoming stablecoin settlement system. Solana announced the company’s third-quarter earnings call last week, adding that the stablecoin system will comprise the US Dollar Payment Token (USDPT) and the Digital Asset Network, built in partnership with Anchorage Digital Bank. Western Union expects USDPT to launch in the first half of 2026, providing customer access through partner exchanges to increase accessibility. Western Union added that the Digital Asset Network will act as a cash off-ramp for the platform’s over 150 million customers across 200 countries. Western Union CEO Devin McGranahan said his team explored several alternatives before settling on the Solana blockchain.
“For 175 years, we've been connecting people, moving $150 billion a year. Digital assets are the next evolution. We looked at alternatives and concluded that Solana was the right choice.”
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) fell back into bearish territory after failing to claim $116,000 on Tuesday. The flagship cryptocurrency ended the weekend in positive territory, reaching an intraday high of $115,410 on Monday. However, it could not stay at this level and settled at $113,833, ultimately dropping 0.40%. BTC rallied to an intraday high of $116,114 on Tuesday but lost momentum again, ultimately dropping 1.03% and settling at $112,906.
Analysts believe BTC’s see-saw price action will continue until the Federal Reserve FOMC meeting and the US-China trade deal are concluded. Price action is showing strength, but BTC’s bullish reversal will be confirmed only if it registers daily closes above the $116,000 level. While BTC is struggling to claim the $116,000 level, there are other positive signs. Open interest (OI) has recovered, rising to $31.48 billion from a low of $28.11 billion on October 11. Spot Bitcoin ETF inflows have also returned, recording over $260 million in net inflows over the past three trading sessions.
According to data from SoSoValue, Bitcoin ETFs posted $202 million in net inflows, with only three ETFs posting significant gains. Ark & 21Shares ARKB reported $75.84 million, while Fidelity FBTC reported $67.05 million. BlackRock’s IBIT registered the smallest inflow on the day with $59.60 million.
According to data from Hyblock, large investors (1 million to 10 million) are continuing to sell, while retail investors (1,000-10,000) are buying the dips. Traders are also reducing their exposure ahead of Wednesday’s FOMC meeting. The Federal Reserve is widely expected to announce a 25 bps rate cut following the meeting. While the FOMC meeting is expected to generate a bullish outcome, President Donald Trump’s meeting with Chinese President Xi Jinping could have a significant impact on market sentiment. If the talks between the two leaders break down, or the market perceives the trade deal as unfavorable, it could send prices and investor sentiment hurtling into bearish territory. Analysts have stated that until the US-China trade deal and the FOMC meeting are concluded, BTC will continue trading between $110,000 and $116,000.
Meanwhile, one market expert has warned investors of difficult times, predicting that BTC could drop to $70,000 once the bear market kicks in. Jon Glover, Chief Investment Officer at Ledn, believes the bull market, which began in early 2023, could be on its last legs.
“I firmly believe we have completed the five-wave upward move and are now entering a bear market that may last until at least late 2026. I expect bitcoin to trade between $70K and $80K, and possibly even lower.”
BTC ended the previous weekend in positive territory, rising 1.37% on Sunday and settling at $108,676. Buyers retained control on Monday as the price rose nearly 2% to reclaim $110,000 and settle at $110,568. BTC surged to an intraday high of $114,082 on Tuesday. However, it lost momentum after reaching this level and dropped 1.99% to $108,362. Selling pressure persisted on Wednesday as BTC fell 0.72% to a low of $106,639 before settling at $107,585. Despite the selling pressure, the price recovered on Thursday, rising over 2% to cross $110,000 and settle at $110,116. BTC continued pushing higher on Friday, rising almost 1% to $111,042.
Source: TradingView
Price action remained positive over the weekend, with BTC rising 0.56% on Saturday and settling at $111,666. Bullish sentiment intensified on Sunday thanks to positive macroeconomic developments, including positive trade talks between the US and China, and rising odds of a rate cut. As a result, BTC rose 2.58% to cross $114,000 and settle at $114,548. The flagship cryptocurrency reached an intraday high of $116,410 on Monday. However, it lost momentum after reaching this level and settled at 114,087, ultimately dropping 0.40%. BTC rallied to an intraday high of $116,114 on Tuesday as bullish sentiment persisted. However, it lost momentum again and dropped over 1% to $112,906. The flagship cryptocurrency is up 0.50% during the ongoing session, trading around $113,453.
Ethereum (ETH) Price Analysis
Ethereum (ETH) has slipped below $4,000 as market sentiment turns cautious ahead of the FOMC meeting later today. The world’s second-largest cryptocurrency ended the weekend in positive territory, rising over 5% to $4,157. The price reached an intraday high of $4,266 on Monday but lost momentum after this level, ultimately dropping 0.87% to $4,120. Selling pressure intensified on Tuesday as ETH fell over 3% and settled at $3,982. The price is up almost 1% during the ongoing session, trading around $4,019.
Despite recent price struggles, spot Ethereum ETFs registered inflows of over $246 million. Fidelity’s FETH led the inflows with $99.27 million, while BlackRock’s ETHA reported $76.37 million in inflows, and Grayscale’s ETH registered $73 million in inflows. Grayscale’s ETHE was the only ETF to report outflows, with $2.66 million withdrawn. Total trading volume for the ETFs reached $1.64 billion, with the value of net assets reaching $27.66 billion.
Meanwhile, Ethereum is gearing up for the Fusaka upgrade, which recently went live on the Hoodi testnet. Fusaka is set to launch on the mainnet on December 3 and will add several scalability and security upgrades to the network. Nethermind, a validator client, completed the upgrade and posted on X,
“The Ethereum Hoodi Fork has been completed and is now running seamlessly on the Nethermind Client. Another smooth upgrade, another key milestone on the road to Fusaka. Big thanks to everyone in the ecosystem who helped make it happen - from client teams to researchers and operators.”
Fusaka will implement several Ethereum Improvement Proposals, including Peer Data Availability Sampling (PeerDAS) as outlined in EIP-7594. The improvement allows validators to read smaller pieces of data on the network, improving node efficiency. The update also includes EIP-7825 and EIP-7935, which aim to raise gas limits and improve efficiency as Ethereum prepares for parallel execution.
ETH started the previous weekend in the red, dropping 1.57% to a low of $3,680 before settling at $3,834. The price recovered over the weekend, rising 1.51% on Saturday and 2.39% on Sunday to settle at $3,985. ETH faced volatility on Monday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as the price registered a marginal decline and settled at $3,981. Selling pressure intensified on Tuesday as ETH fell almost 3% to $3,876. The price fell to an intraday low of $3,709 on Wednesday. However, it rebounded from this level and settled at $3,807, ultimately dropping 1.78%.
Source: TradingView
Despite the overwhelming selling pressure, ETH recovered on Thursday, rising 1.33% and settling at $3,857. The price continued pushing higher on Friday, rising 1.33% and settling at $3,935. Price action remained positive over the weekend as ETH rose 0.45% on Saturday and 5% on Sunday, reclaiming $4,000 and settling at $4,157. ETH reached an intraday high of $4,266 on Monday as positive sentiment persisted. However, it lost momentum after reaching this level and settled at $4,120, ultimately dropping almost 1%. Selling pressure intensified on Tuesday as the price fell over 3%, slipping below $4,000 and settling at $3,982. ETH has reclaimed $4,000 during the ongoing session and is trading around $4,018.
Solana (SOL) Price Analysis
Solana’s (SOL) move above $200 fizzled out on Tuesday as it lost momentum after reaching an intraday high of $203. The altcoin registered a sharp increase on Sunday, reaching an intraday high of $205 before sellers drove the price down to $198. Selling pressure and volatility persisted on Tuesday as SOL fell over 2% and settled at $194. The price is marginally up during the ongoing session, trading around $194.
Meanwhile, asset manager Bitwise has revealed that its Solana staking ETF registered $55.4 million in trading volume on its debut day. The trading volumes recorded on the Bitwise Solana Staking ETF (BSOL) were the largest among all crypto ETFs launched in 2025, beating XRP and SOL staking ETFs from REX Osprey. BSOL registered $223 million in assets before its launch, indicating growing institutional support and confidence in staking rewards. Wall Street has expanded its appetite for crypto beyond BTC and ETH, with altcoins like SOL taking center stage.
BSOL’s $55.4 million in trading volume beat pre-launch expectations of $52 million. Meanwhile, Canary Capital’s HBAR ETF (HBR) recorded $8 million in trading volume on its debut.
SOL started the previous weekend in the red, dropping to an intraday low of $174 before settling at $182. The price recovered on Saturday, rising over 3% to $187, and registered a marginal increase on Sunday despite volatility and selling pressure to settle at $188. Buyers retained control on Monday as SOL rose 0.95% to $189. The price reached an intraday high of $197 on Tuesday. However, it lost momentum after reaching this level and dropped by over $2% to $185. Selling pressure persisted on Wednesday as SOL fell over 3% and settled at $180.
Source: TradingView
Despite the overwhelming selling pressure, SOL rallied on Thursday, rising over 6% to reclaim $190 and settle at $191. Buyers retained control on Friday as the price rose 1.16% to $193. Price action remained positive over the weekend as SOL registered a marginal increase on Saturday before rising 3% on Sunday and claiming $200. SOL reached an intraday high of $205 on Monday but lost momentum after reaching this level. As a result, it fell below $200 and settled at $198. Selling pressure and volatility persisted on Tuesday as SOL fell over 3% to $194. The altcoin is marginally up during the ongoing session as it looks to reclaim $200.
Filecoin (FIL) Price Analysis
Filecoin (FIL) ended the previous weekend in positive territory, rising 2.47% and settling at $1.533. Buyers retained control on Monday as the price rose over 3% and settled at $1.581. FIL rallied to an intraday high of $1.730 on Tuesday as bullish sentiment intensified. However, it lost momentum after reaching this level and settled at $1.563, ultimately dropping over 1%. Selling pressure persisted on Wednesday as FIL fell nearly 3% to an intraday low of $1.461 before settling at $1.519. Positive sentiment returned on Thursday as the price rose 2.57% to $1.569. FIL continued pushing higher on Friday, rising 0.71% and settling at $1.569.
Source: TradingView
Price action was mixed over the weekend as FIL registered a marginal decline on Saturday before rising nearly 6% on Sunday and settling at $1.652. The price lost momentum on Monday and fell 0.73% to $1.640. Selling pressure intensified on Tuesday as FIL fell 5% and settled at 1.558. The price is up over 1% during the ongoing session, trading around $1.578.
Injective (INJ) Price Analysis
Injective (INJ) registered a notable increase of almost 2% on Sunday (October 19) and moved to $8.581. The price continued pushing higher on Monday, rising 1.97% and settling at $8.750. Selling pressure returned on Tuesday as INJ fell 3% to $8.487. Bearish sentiment persisted on Wednesday as INJ fell 3.50%, settling at $8.191. Despite the overwhelming selling pressure, the price recovered on Friday, rising almost 3% to $8.408. Buyers retained control on Friday as INJ rose 0.89% and settled at $8.483.
Source: TradingView
Price action was mixed over the weekend as INJ fell 0.93% on Saturday before rising 7% on Sunday, and settling at $9.020. Selling pressure returned on Monday as the price dropped almost 5% to $8.595. Sellers retained control on Tuesday as the price fell 2.38% and settled at $8.390. INJ is marginally down during the ongoing session, trading around $8.381.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.