Weakening Sentiment on Wall Street Sees Bitcoin and Ethereum Move Lower
Amid the correction on Wall Street, Bitcoin has slipped to $76,000, and even more than $560 million in positive net inflows yesterday has not managed to slow the decline. The RSI is near 27, confirming oversold conditions, but the MACD moving-average crossover still suggests there may be room for additional downside momentum. If the move were to mirror the October 2025 impulse on a 1:1 basis, BTC could potentially slide toward around $60,000.
Source: xStation5
Mike Novogratz (CEO of Galaxy Digital) said that over the next month Bitcoin may trade within a fairly wide $55,000–$75,000 range. Novogratz also suggested that a better chance of a rebound could come toward the end of the current quarter.
Spot Bitcoin ETFs launched with a bang, generating roughly $13.9 billion in volume in their first week, but inflows have clearly cooled since then.
Bitcoin is currently about 40% below its all-time high.
Novogratz pointed to two potential catalysts for the coming quarters:
- Fed rate cuts, if the economy genuinely starts to slow (crypto tends to favor cheaper money),
- U.S. midterm elections, which could bring more clarity to the crypto regulatory landscape.
Ethereum (D1 timeframe)
Similarly, Ethereum is trading around levels last seen in summer 2025. It has fallen from an all-time high near $4,900, erasing almost 65% of the prior gains, which is a notable move given a market capitalization of roughly $270 billion.
Source: xStation5
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