Crypto Bleeds $180B as Bitcoin, Ethereum and XRP Slip Toward Make-or-Break Levels

Roughly $180 billion has vanished from crypto since the month began, leaving the entire market worth $2.64 trillion. The selloff picked up after Democrats won the midterm elections, with traders fretting that stricter crypto rules could be coming. Bitcoin, Ethereum and XRP are all feeling the heat.

Bitcoin slipped below $75,000 on 5 November, giving back ground after touching $81,000. The trigger, per Coinpedia, was a US Initial Jobless Claims report that came in at 189,000 — below the 197,000 economists expected. Analyst Ali Martinez says BTC is still trading inside a wide channel on the three-day chart, with the channel's midline near $73,000 as the level to watch. Lose it, and Martinez sees the decline stretching toward the channel floor around $60,000 — a 20% slide that would land Bitcoin back where buyers piled in before.

Ethereum looks shakier than its bigger rival. ETH broke under the $2,385 support on the daily chart and dropped out of a right-angled ascending broadening pattern, a sign the old structure has cracked. With $2,385 now flipped into resistance, more selling could send it toward the next major support at $1,963. It's trading near $2,245.

XRP is nursing its own wounds. The token fell below $1.61 and broke under the middle of its trading channel. On the three-day chart, per Coinpedia, XRP has slid from above $1.40 toward $1.18, making $1.29 the line in the sand. If buyers don't show up, the channel's lower boundary around $0.99 is the next big floor — a zone where XRP has drawn strong buying interest before.

So the map is drawn: $73,000 for Bitcoin, $1,963 for Ethereum, $0.99 for XRP. Whether those levels hold depends on whether the selling pressure that followed the midterms finally runs out of fuel.