Bitcoin, Ethereum, XRP Bottom Calls Get Louder but Prediction Markets Disagree
Bitcoin , Ethereum and XRP all dropped sharply Friday, with some traders calling the selloff overdone even as Polymarket bettors bet on more downside.Analyst Calls This Move ‘Pure Manipulation’Crypto commentator Ash Crypto laid out the case: Bitcoin hit every technical marker for a bull confirmation over the past three months.Reclaimed the 50-week moving averageFormed a higher highFlipped the weekly Supertrend bullishAll while shrugging off war headlines, and the . Then Nvidia CEO Jensen Huang’s news, and the market broke.He called that timing suspicious. "A guy who has nothing to do with Bitcoin had an affair, and it’s Bitcoin that is crashing," he wrote, framing the drop as forced selling by traders who missed an earlier Q4 dip and are now manipulating the market to buy back in cheap.Cowen Still Sees the Four-Year Cycle Playing OutCrypto analyst Benjamin Cowen said in a YouTube video Thursday that Bitcoin, trading near $72,000, is following its traditional four-year cycle, comparing May’s breakout to false starts in 2015, 2019 and March 2022 that preceded brutal drawdowns.He expects weakness to continue for "a few more weeks at least going into the December FOMC," with the key question being whether Bitcoin’s next low lands above or below the realized price near $54,000.A deeper low would reset on-chain indicators and set up "a really nice bull market in 2027," while a higher low would only support prices for three to six months before a retest.He’s "bearish for the next few weeks" but expects sentiment to flip bullish by year-end.Polymarket Traders Are Positioned for More DownsideHere’s how Polymarket bettors see Bitcoin playing out:By end of November:$65,000: 52% chance$62,500: 31% chance$75,000: 26% chanceBy end of 2026:$65,000: 68% chance$60,000: 38% chance$90,000: just 8% chanceCrypto trader Michaël van de Poppe struck a different tone, calling Bitcoin "oversold again" and arguing that’s typically when markets are "near a bottom."Still, he cautioned it’s unclear whether this is a short-term dip or the actual low.BTC, ETH and XRP Technical Levels to WatchAssetSupportResistanceBitcoin$67,652-$64,000 to $66,000$70,000-$72,000 and $76,000-$78,100Ethereum$1,897 and $1,800 to $1,830$2,000-$2,100XRP$0.99-$1.00 and $0.93 to $0.94$1.04-$1.05 and $1.10Preview Image: Shutterstock