Crypto Market Crash TL;DR

After the Fed’s surprise 25 bps rate cut (its first of 2025), Bitcoin still can’t punch through the $120 K resistance even as the S&P 500 hits fresh highs. Meanwhile the market got rocked by the biggest crypto liquidations of the year, whales were on the move, and Bitcoin–gold correlations collapsed. Key levels around $117 K–$120 K are now make-or-break for bulls as BTC dominance ticks back up.

Altcoins aren’t out of the woods, but the “season” could turn in Q4 thanks to potential ETFs and the CLARITY Act. TOTAL2 just turned tail at its old ATH, the Altcoin Season Index has slid from 100 to 65, and Ethereum’s weekly charts look a bit shaky. Still, LINK’s DoC partnership could light a fire under its price, XRP sits ~26 % shy of its all-time high, Avalanche (AVAX) has fresh catalysts, and breakout picks like ENA are on watch. Institutional flows and liquidity trends may tip the scales next.

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