Crypto Big Names Take a Hit: What's Next for Bitcoin, Ethereum, and XRP?

Bitcoin recently dropped below $100, 000, causing a stir among regular traders. This isn't the first time it's happened this month, and it's left many feeling unsure. Ethereum and XRP aren't faring much better, with traders turning cautious. This kind of uncertainty often shows up when the market is about to change direction. It's not usually seen at the start of a big drop. Right now, the mood around these big cryptocurrencies is pretty negative, which might actually be a good sign. Looking at the data, Bitcoin's Net Unrealized Profit ratio is at 0. 476. This number has often meant that a short-term bottom is near. In the past, similar readings have led to big price jumps. So, there's hope that things might turn around soon. But the overall market is still struggling. The total value of all cryptocurrencies has fallen to $3. 47 trillion. Analysts say that while there are signs of a bottom, any upward moves are being met with selling. This suggests a longer-term correction, not a complete cycle change. Despite the doom and gloom, some big players are still buying. Strategy, one of the largest public Bitcoin holders, recently added 487 BTC to its stash. On the Ethereum side, exchange reserves are at their lowest since May, which usually means people are holding onto their coins rather than selling. So, while regular traders might be stepping back, the bigger players seem to be getting ready for the next big move. Historically, this setup has led to quick, sharp reversals rather than deeper drops.