Bitcoin Slips To $85,000 As Ethereum, XRP, Dogecoin Sink Over 4%

Bitcoin dropped back below $86,000 on Wednesday, erasing the gains from Tuesday.

Cryptocurrency	Ticker	Price
Bitcoin	(CRYPTO: BTC)	$85,439.48
Ethereum	(CRYPTO: ETH)	$2,797.97
Solana	(CRYPTO: SOL)	$121.86
XRP	(CRYPTO: XRP)	$1.85
Dogecoin	(CRYPTO: DOGE)	$0.1251
Shiba Inu	(CRYPTO: SHIB)	$0.057496

Notable Statistics:

• Coinglass data shows 143,978 traders were liquidated in the past 24 hours for $ $490.00 million.       
• In the past 24 hours, top losers include Bittensor, SPX6900 and PancakeSwap.

Notable Developments:

• Is Crypto Really Dead — Or Just Losing Its Separate Identity?
• ‘Love Letter’ Details Bitcoin’s Journey From Pizza Purchase To Global Asset Class
• Trump-Pardoned Changpeng Zhao May Be ‘Retired’ But Binance’s US Strategy Says Otherwise
• Bitcoin’s Death Cross Looks Scary Until You Realize What Happened Last Time
• Elizabeth Warren Wants Crypto Investigation, But Coinbase Execs Meet Tim Scott To Negotiate Market Structure Bill
• Michael Saylor Says Quantum Computing Will Make Bitcoin ‘Stronger,’ Not Break It — What’s His Reasoning?
• Senators Introduce SAFE Crypto Act To ‘Protect Americans Against Scams In All Industries’

Trader Notes: Michael van de Poppe said Bitcoin is attempting an upside push, with a large cluster of shorts at risk. A clean breakout and hold above $88,000 could open the door to a fast move toward $93,000–$94,000.

Bitcoin Archive noted that BTC has already swept liquidity above $90,000, while sizable liquidation pools remain below around $86,000. Thin overhead liquidity suggests limited resistance near $88,900.

DonWedge highlighted a sharp $4,000 drop in just 90 minutes, wiping out $130 billion in market cap and liquidating roughly $150 million in long positions. The move appeared liquidity-driven rather than macro-led, consistent with large players selling into strength and re-accumulating lower.

The takeaway is that volatility remains high, but the price action looks more like tactical accumulation than a structural breakdown, keeping the broader bull thesis intact once liquidity resets.

Read Next:

• Is Bitcoin Headed For ‘Bear Market Blues’? Just ‘Trade The Market You Have’, Expert Says

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