The new week begins with the cryptocurrency market attempting to stabilize after a significant downturn. On Thursday, Bitcoin fell below 100,000 dollars for the first time since May and currently trades near 95,200 dollars, a level it has held for the past two days. The asset is down more than 10% over the past week.
Ethereum is trading around 3,200 dollars, down 11.5% week over week. A key development for the asset is the confirmation of December 3 as the date for the Fusaka network upgrade. The previous major update, Pectra, was followed by a period of strong price performance.
Other major altcoins also posted notable declines. XRP, despite the launch of a Nasdaq-listed spot ETF, fell about 9% in the past week. BNB declined roughly 7% but continues to trade above 900 dollars. Solana holds near 141 dollars, making it the weakest performer among large-cap assets, down 16% over the week and approximately 25% over the month.
Read also: Fusaka Upgrade: What’s Next for Ethereum After Pectra?
Sentiment
Market sentiment has deteriorated sharply. The Fear and Greed Index recorded readings of 10 for two consecutive days, a level seen only once since 2022. Today the index stands at 14, still within the extreme fear category.
The decline reflects concerns about tightening financial conditions, worries about slower rate cuts, and broader risk aversion across global markets. Sentiment at these levels often coincides with heightened sensitivity to macroeconomic news and may lead to stronger reactions to smaller market developments.
Read also: Crypto Sentiment at Record Low: Fear and Greed Index Hits 10 for Second Day
Macro And Policy Context
Economic uncertainty continues to influence market behavior. Shifts in expectations around U.S. monetary policy have contributed to risk-off sentiment. Recent comments from Federal Reserve officials have reduced confidence that interest rate cuts will occur soon, reinforcing caution across asset classes.
Additional factors include weaker economic signals from China and delayed economic data in the United States due to the now-ended government shutdown. With official data releases resuming, attention is turning to upcoming employment and inflation figures, which may influence expectations for the Federal Reserve’s December and January policy meetings.
Investors will also be watching the upcoming earnings from Nvidia and major U.S. retailers for signals on both consumer demand and the state of the ongoing AI investment cycle.
Read also: Can You Really Get Rich Quick By Achieving Daily 1% Gains?
Outlook
The start of the week finds the market stabilizing near key levels, though sentiment remains fragile. Bitcoin’s position around 95,000 dollars is stable for now, but ETF outflows and liquidations continue to influence short-term price action. Ethereum’s upcoming network upgrade adds an additional focal point for investors assessing medium-term fundamentals.
With major U.S. economic data scheduled throughout the week, including Federal Reserve meeting minutes, employment figures, and inflation expectations, market conditions may shift quickly. Any change in expectations for interest rate policy or liquidity conditions is likely to have an immediate impact on crypto market sentiment.
