Another tumultuous week saw Bitcoin hitting a multi-month low while XRP made waves with the launch of a new ETF in the US.\n\nTo begin with last Friday, Bitcoin was already experiencing turmoil, having dropped below $100,000, reaching a low of $95,000 - the lowest since April. There was a brief recovery over the weekend, touching $96,000, but bears maintained control pushing the price down further.\n\nBy Tuesday, it slipped below $90,000, managing to hold this threshold temporarily, only to succumb a day later, dropping beyond $88,000. Further declines ensued, culminating in a dip to $86,000 on Thursday. A minor rally to $88,000 was soon followed by a drop to just over $80,000, marking the lowest trading position since April.\n\nIn the wake of this decline, Bitcoin started to recuperate to approximately $85,000 after New York Fed President John Williams suggested potential interest rate cuts ahead, conflicting with anticipated stability for December. However, momentum didn’t last, dropping back to $83,000, reflecting a painful 14% drop for the week. Most major altcoins followed suit with notable losses: ETH and XRP down 15% and 17% respectively, while ZEC reported a rare gain of 9%.\n\n### Market Overview\nMarket Stats\n- Market Cap: $2.935T\n- 24H Volume: $307B\n- BTC Dominance: 56.6%\n- BTC: $83,200 (-14%)\n- ETH: $2,715 (-15%)\n- XRP: $1.92 (-17%)\n\n### Key Highlights\n- XRP ETF Launch: A second ETF focused on XRP launched in the US, despite market struggles.\n- Bitcoin Liquidation: The drop led to the liquidation of over $1 billion in long positions within 24 hours, affecting investors like Andrew Tate.\n- Increased Whale Activity: On-chain data indicated heightened activity among Bitcoin whales amid the drop.\n- IPO Filing by Kraken: The crypto exchange Kraken made headlines by filing for a confidential IPO after securing substantial funding.\n- Criticisms from Peter Schiff: As Bitcoin struggles, Schiff’s criticisms of its performance compared to gold resurfaced.\n\nFor more detailed analyses on crypto prices and trends, you can check the charts provided and various resources available.
