"BTC had somewhat of a promising start to Wednesday, breaking above its hourly resistance of $88k this morning. After cracking $90k, BTC was sent back down in minutes. The repeated sell wall of rejection is becoming tiresome for bitcoin bulls, as nothing seems to be able to get over this hump, and send things back towards the once familiar $100k and above levels. Since the ETF approval, the mass amount of flow has greatly reduced the impact of retail traders,"
"Active addresses on Ethereum have been in a steady downslope as the year winds down, which is not to be unexpected. Thankfully, new addresses have been steadily increasing throughout 2025, showing the world that interest continues to grow in participating on-chain in the world's second leading crypto. ETH has been trading down today as well, being rejected at $3k and now trading around $2.8k at this time of writing."
Bitcoin briefly broke hourly resistance above $88k and cracked $90k but was rapidly pushed back down by recurring sell walls. Large buy orders, even at billion-dollar scale, no longer move the market since ETF-driven flow reduced retail influence. The identity of the entity that blew up on 10/10 remains unknown, fueling speculation that insolvent firms may be forced to unwind BTC. New Bitcoin addresses have declined since late November, suggesting weaker new entrant participation. Ethereum active addresses have steadily declined toward year-end, while new addresses rose throughout 2025, indicating growing on-chain interest. ETH trades near $2.8k after rejection at $3k and perpetual funding has turned negative.
Read at 24/7 Wall St.
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