BTC USD Bounces, As Retail Flock to ICP and XPL: When Will Crypto Recover?

Market Overview - The total cryptocurrency market cap has seen a significant decline, with over $400 billion lost in roughly one week, raising concerns about market recovery [1] - Bitcoin (BTC) has dropped to around $90,000, with local support identified at this level, and analysts suggest that a further decline could occur if it breaks below $85,000 [5] Bitcoin ETF Dynamics - Spot Bitcoin ETF issuers have been major indirect buyers of Bitcoin, but recent redemptions have led to increased selling pressure, with over $254 million worth of shares redeemed as of November 17, primarily by BlackRock [2] - The sell-off triggered by ETF redemptions has negatively impacted Bitcoin prices and the broader market, exacerbated by large holders (whales) selling significant amounts of Bitcoin [4] Altcoin Performance - Despite Bitcoin's struggles, some altcoins like ICP (Internet Computer) have shown resilience, with a 15% increase in the past 24 hours, reducing weekly losses to around 11% [6] - The rise in ICP's price is accompanied by increasing trading volume, suggesting whale involvement, and projections indicate it may reclaim the $14 level based on Fibonacci analysis [7]