According to Axel Adler, Bitcoin entered a bear cycle in October 2025 and is now in a corrective phase after a local peak near $125,000. Percent unrealized losses have climbed from roughly 7% to around 22% since January, LTH/STH SOPR has compressed to about 1.13 after a ~40% drop, and BTC has failed to reclaim $80,000 amid weak rebounds near $78,000.

Bitcoin remained below $80,000 as on-chain SOPR fell to its lowest in a year, per CryptoQuant. The ratio’s slide toward 1.0 aligns with a local price low near $77,900 and suggests long-term holders have reduced profit-taking, while price stays under the 100- and 200-day averages.

Bitmine staked an additional 250,912 ETH valued at about $745 million over the past 18 hours, lifting its locked position to 2,582,963 ETH and 61% of holdings. Ethereum remains below the 3,000 level as key moving averages cap upside attempts and sentiment stays cautious. Large-scale staking tightens liquid supply while volume contraction and elevated leverage point to fragile short‑term positioning.

ETH trades near $3,000 as leverage on Binance's ETH futures holds around a record 0.632, raising the market's sensitivity to liquidation shocks. On January 25, the Taker Buy Sell Ratio fell to 0.86 before rebounding to 1.16, while price sits below the 50- and 100-day MAs and continues to range between $2,800 and $3,400.

XRP is trading just under the $2.00 level around $1.89 while its derivatives market shows a deep reset, with Binance open interest dropping from a July 17 peak of $1.76 billion to under $500 million and nearly 60% off highs. The October 10 liquidation event accelerated deleveraging as price slid from $3.55 to $1.83, leaving leverage and speculative activity significantly reduced and XRP consolidating near key moving average supports.

Bitcoin is hovering around the $87,800–$88,000 area after a sharp selloff, with its price still holding just above the $86,400 support zone. Data shows the Derivatives Market Pressure Index sank to 30.54, a fresh 30-day low, even as spot price barely moved, leaving traders focused on whether buyers are quietly absorbing supply or storing energy for another downward move.

Ethereum fell below $2,800 before rebounding toward $2,900, with price last seen near $2,897. According to CryptoQuant, the 30‑day SMA of the Coinbase Premium Index dropped to −0.08, a multi‑year low signaling weaker US institutional demand. With key moving averages overhead, bulls need a decisive reclaim of $3,000 to reduce downside risk toward $2,750–$2,800.

Bitcoin is trading below $90,000 and hovering around $89,000, while an adjusted Net Unrealized Profit/Loss (aNUPL) metric tracks conditions similar to prior post-bear market phases. On-chain analyst Darkfost highlights that unrealized profits are shrinking and unrealized losses are growing, pushing investors toward a key decision point between holding or capitulating. The weekly chart shows BTC stuck in a consolidation band near the $88,000–$90,000 region, with downside risk toward the low-$80,000 zone if buyers fail to defend current support.

Bitcoin trades near $89,000 after slipping back under $90,000, with momentum softening. According to analyst Axel Adler citing CryptoQuant’s Trend Pulse, the market has remained in Bear Mode since January 19—83 straight days—on a negative 14-day return and a weak SMA30 vs SMA200 signal. Quarterly return is -19% and the 7-day change is -6.8%, underscoring fragile sentiment.