ETH USD Still Rangebound: When New ATH?

The recent US government shutdown has significantly impacted the cryptocurrency market, causing a decline of $408 billion. This downturn is characterized by intense selling pressure and increased investor fear, leading to Bitcoin and Ethereum losing crucial support levels and entering a corrective phase. The situation highlights the vulnerability of the crypto market to macroeconomic uncertainties.

Chainlink's LINK token dropped 4% to $16.25 as it faced selling pressure amid a broader decline in the cryptocurrency market. The anticipated positive impact of ETF news failed to materialize, highlighting ongoing challenges for the token.

Ether (ETH) is on the verge of a significant price breakout, potentially reaching $4,400 by mid-December 2025. This bullish outlook is based on a technical analysis indicating that ETH is nearing a falling wedge pattern, which historically suggests a price increase. If this breakout is confirmed, it could mark a pivotal moment for the cryptocurrency, attracting more investors and possibly influencing the broader market.

Canary Capital's $XRP spot ETF is set to debut on Nasdaq, enhancing access to altcoins and potentially increasing liquidity in the market. The announcement has already led to a 10% price surge for $XRP, with trading volumes rising by 40%. This development follows recent regulatory changes allowing US exchanges to list non-Bitcoin crypto ETFs, paving the way for other altcoins like $SUBBD to follow suit.

Bitcoin's price surged to $105,000, continuing a trend of higher lows observed in November. However, traders are exercising caution due to concerns about a potential rejection at key resistance levels, particularly in light of significant BTC withdrawals from Binance.

On November 12, 2025, the cryptocurrency market experienced a significant surge, increasing by $65 billion within three hours, largely driven by Bitcoin, which alone gained over $30 billion. This surge underscores Bitcoin's crucial role in the dynamics of the crypto market, indicating a potential for sustained growth and heightened interest from institutional investors. Such developments are essential as they reflect the evolving landscape of cryptocurrency and its increasing acceptance in the financial sector.