Daily Crypto Roundup: Bitcoin Tests $62K Support As XRP ETF Inflows Rise & Ethereum Foundation Cuts Staff

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Welcome back to the Daily Crypto Roundup. Today, the market has taken another hit, and this is not one of those days where we can just say, Bitcoin dipped a bit, don't worry about it, and move on. There is more going on here. Bitcoin has fallen back toward the $62,000 area. Ethereum is down around the $1,600 area. XRP is trading around $1.10.
Solana has dropped back below $70.
And across the wider market, we are seeing liquidations, fear, ETF pressure, and a strange altcoin signal that looks bullish at first glance, but is actually warning us that Bitcoin weakness is driving the whole story. So today, we are going to walk through this properly. First we are going to look at why Bitcoin dropped after briefly looking stronger. Then we are going to explain the liquidation flush and why leverage made the move worse. After that, we will look at the so-called altcoin season signal, because this is one of those headlines that could easily mislead people. Then we will move into XRP, because while the token is under pressure, the fund flow story is still strong. Then we will cover Ethereum Foundation staff cuts, because that raises real questions about leadership and direction. And finally, we will look at the Clarity Act in Washington, because regulation is still one of the biggest long-term drivers for this market.
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But, instead of turning into a strong risk-on rally, the move flipped into profit-taking. Traders who had bought the bounce started taking money off the table. Oil prices moved lower, and the broader market mood shifted from relief into caution.
That is why Bitcoin slipping back toward the $62,000 area matters. This is no longer just about whether Bitcoin can reclaim $65,000.
The market is now asking whether Bitcoin can defend the lower support zone. Around $62,000, you have the 200-week moving average coming into focus. That is one of the big long-term levels traders watch because it smooths out years of price action and gives you a sense of whether Bitcoin is still holding its broader cycle structure. If Bitcoin can hold this area, then bulls can argue that this is still a painful but controlled correction. But if Bitcoin loses this zone cleanly, then the conversation changes quickly. The next levels people start watching are closer to $60,000, then the June low around $59,200.
And after that, some long-term indicators start pointing much lower.
And that brings us to the next Bitcoin story. One long-time indicator suggests Bitcoin may need to fall further before a proper bottom is confirmed. The key idea here is realized price. Realized price is basically the average on-chain cost basis of all Bitcoin in circulation. Historically, in major bear market periods, Bitcoin has often traded below realized price before forming a lasting cycle bottom.
Right now, that realized price is around the $53,000 to $54,000 area.
So the argument from this indicator is not that Bitcoin must definitely crash their market tomorrow. It is that if this really is turning into a deeper cycle reset, then Bitcoin may not have completed the full capitulation process yet. That is not a comfortable thing to hear. But it is important. The market does not care about what we want. It cares about liquidity, positioning, demand, fear, and whether buyers actually step in at key levels. And today's liquidation numbers show exactly how fragile positioning had become. Coindesk reported that more than $700 million in leverage positions were wiped out across the market in 24 hours. Most of that came from longs, meaning traders who had borrowed money to bet prices would rise. Bitcoin and Ethereum accounted for a big chunk of those liquidations, and altcoins like XRP, Solana, and Hyperliquid also took heavy hits. This is why leverage is so dangerous in crypto.