Bitcoin, Ethereum, XRP, Dogecoin Decline as Oil Prices Push Higher: Analyst Says 'Pullback Isn't the End of Anything,' Rather the 'Next Opportunity'
Aniket Verma 1 month ago
NewsCryptocurrency
Leading cryptocurrencies plunged on Monday, October 12, as geopolitical uncertainty and upcoming inflation data kept investors on edge.
Leading cryptocurrencies plunged on Monday as geopolitical uncertainty and upcoming inflation data kept investors on edge.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:14 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -2.60% | $81,747.83 |
| Ethereum (CRYPTO: ETH) | -4.30% | $2,434.71 |
| XRP (CRYPTO: XRP) | -5.20% | $1.33 |
| Solana (CRYPTO: SOL) | -7.0% | $103.82 |
| Dogecoin (CRYPTO: DOGE) | -5.90% | $0.0817 |
Crypto Market Plunges
Bitcoin nearly slipped below the $81,000 mark before staging a late-evening rebound. Ethereum dipped to the $2,400 level and is now down nearly 10% over the last week. XRP and Dogecoin also recorded steep drops.
Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 1.08% and 0.83%, respectively.
More than $775 million in cryptocurrency positions were liquidated over the past 24 hours, including $493 million in just the last four hours, according to Coinglass data. Long position traders bore the brunt of the losses.
Bitcoin’s open interest slipped 1.64% over the last 24 hours. Retail and whale derivatives traders on Binance, meanwhile, flipped “Bullish” on BTC, increasing their long exposure.
Top Gainers (24 Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 9:14 p.m. EDT) |
| Beldex (BDX) | +12.90% | $0.09107 |
| Bitway (BTW) | +9.40% | $1.80 |
| Render (RENDER) | +4.70% | $2.08 |
Dow Rallies, S&P Near Flatline
Stocks had a mixed day on Monday. The Dow Jones Industrial Average rose 195.60 points, or 0.38%, to close at 51,850.55. The S&P 500, in contrast, fell 0.06% to end at 7,807.24, while the tech-heavy Nasdaq Composite shed 0.44% to close at 27,245.90.
Russian strikes on Ukrainian energy facilities continued even after President Donald Trump announced an “energy ceasefire” between the two countries.
The United States Oil Fund (NYSE:USO), which tracks WTI crude oil, sharply rebounded, closing up 1.91% at $151.03 on Monday.
‘Pullback Isn’t the End of Anything’
Ali Martinez, a widely followed cryptocurrency analyst and trader, noted that whales have increased accumulation as Bitcoin fell from $87,000 toward $80,000. However, they believe the asset still needs to clear a key “hurdle” first.
“On-chain data shows nearly 800,000 BTC were previously traded around $84,569. A break above this supply zone would strengthen the case for a move higher,” the analyst predicted.
2/5 As Bitcoin fell from $87,000 toward $80,000, whales added 16,010 $BTC over five days.
— Ali Charts (@alicharts) October 12, 2026
Their holdings rose from 5,247,316 to 5,263,326 BTC, representing a 0.305% increase while the price was declining. pic.twitter.com/gCf8Ow2sbr
Technical analyst Kevin said that a year-end pullback was inevitable, although their “plan” remains unchanged: $77,000-$83,000 keeps $93,000-$100,000 in play, while a close below $77,000 opens $67,000-$76,000
“CPI Wednesday is the catalyst. A pullback isn’t the end of anything. It’s the next opportunity for the sidelined and should result in a higher low,” Kevin added.
bitcoin:native is at ~$82.5K and the 2–3 day indicators are starting to roll over.
— Kevin (@Kev_Capital_TA) October 12, 2026
I've said for months a pullback into year-end was likely, and USDT dominance bouncing off major support was the tell for bitcoin:native, ethereum:native and… pic.twitter.com/mRqXqRevx3
Photo Courtesy: Marc Bruxelle on Shutterstock.com