Bitcoin below $95k! Majors nosedive 8-12%! JPMorgan bullish on Circle!
- BTC
- MARKET
- SOL
- TRADING
Overview
The cryptocurrency market experienced significant turmoil, with major assets suffering steep declines. Bitcoin fell below $95,000, while Ethereum, BNB, and Solana also saw notable drops. Despite the negative trends, some positive developments emerged, including bullish sentiment from JPMorgan regarding Circle.
Market Decline
In one of the year’s largest selloffs, crypto majors faced declines ranging from 7% to 12%. Bitcoin saw a decrease of 8%, dropping to $95,200. Ethereum fell by 11%, reaching $3,100. BNB and Solana also experienced losses of 7% and 12%, respectively, with BNB sitting at $895 and Solana at $137.
A small number of assets managed to perform positively during this downturn, with ZEC increasing by 3% and LEO by 1%. The negative market sentiment was further reflected in the Crypto Fear & Greed Index, which remained in the Extreme Fear category at a score of 16.
Impact on Crypto-Related Equities
The selloff extended beyond cryptocurrencies, impacting related equities as well. Notable declines were observed in companies such as MicroStrategy and Coinbase, both down by 7%, and Robinhood, which fell by 9%. This broad market reaction underscores the interconnected nature of crypto assets and their associated stocks.
Positive Developments
Despite the overall negative sentiment, there were positive developments in the market:
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JPMorgan’s Bullish Outlook: Analysts from JPMorgan upgraded their stance on Circle to Overweight, anticipating faster growth for USDC and stablecoins. This positive outlook was accompanied by Cathie Wood’s ARK investment firm adding $30 million in shares of Circle.
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Cash App’s Future Plans: Jack Dorsey’s Cash App announced plans to introduce stablecoin payments on Solana and other networks by early 2026, signaling potential growth opportunities in the stablecoin sector.
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Increased Bitcoin Holdings: Emory University has doubled its Bitcoin holdings in Grayscale’s BTC Trust, raising its total investment to $52 million, indicating institutional interest in Bitcoin remains strong.
Impact on the Crypto Market
- Major cryptocurrencies, including Bitcoin and Ethereum, experienced significant price drops, affecting investor sentiment.
- The decline in crypto-related equities suggests a broader market impact beyond digital assets.
- JPMorgan’s bullish stance on Circle may provide some optimism amidst the downturn.
- Increased institutional investment, as seen with Emory University, could signal ongoing confidence in Bitcoin.
- Plans for stablecoin payments by Cash App could enhance the utility of stablecoins and attract more users.
Updated: 11/14/2025, 5:20:27 PM
