Bitcoin, XRP, ADA Struggle Ahead Of Thanksgiving – Analyst Warns There’s No Clear Catalyst For Q4

• Bitcoin slipped below $87,000 on Wednesday, down 0.7% in the last 24 hours.
• Ripple’s XRP and Cardano led losses among major tokens.
• CoinGlass data showed $247 million in liquidations over the past day, split roughly evenly between longs and shorts.

Bitcoin (BTC) and the broader cryptocurrency market slipped slightly in early morning trade on Wednesday, ahead of the Thanksgiving weekend, while retail sentiment on Stocktwits varied across major tokens.

Bitcoin’s price slipped below $87,000, edging 0.7% lower in the last 24 hours. On Stocktwits, retail sentiment around the apex cryptocurrency fell to ‘bearish’ from ‘neutral’ territory, while chatter remained at ‘high’ levels over the past day. 

The overall cryptocurrency market edged 0.1% lower in the last 24 hours, steady at $3.07 trillion. CoinGlass data showed liquidations at $247 million over the past day. Around $120 million came from short bets, and the other $127 million was from long positions.  

Bitcoin’s Q4 Performance Uncertain

While the fourth quarter is often cited as Bitcoin’s strongest period, historical patterns show that gains rarely occur without a clear catalyst, according to 10x Research. The firm noted that U.S. equities typically receive a boost between Thanksgiving and Christmas, but Bitcoin has experienced more uneven results over the same period.

“Bitcoin’s best fourth quarters happen only when a clear catalyst is present,” 10x Research said in an emailed note. “While seasonality alone would have justified a bullish default stance, we flagged in September that we could not identify any catalyst strong enough to support such a view in 2025.”

Altcoins Mixed

Cardano (ADA) and Ripple’s XRP (XRP) were in the red alongside Bitcoin. ADA’s price edged 0.2% lower over the last 24hours, while XRP’s price fell 1.3% – leading losses among the major tokens. On Stocktwits, retail sentiment around XRP was in the ‘bullish’ zone, accompanied by ‘high’ levels of chatter over the past day. Meanwhile, retail sentiment around Cardano was in ‘neutral’ territory with ‘normal’ levels of chatter.

The top gainer among major tokens was Tron (TRX), followed by Dogecoin (DOGE) and Binance Coin (BNB). TRX’s price rose 1.1% in the last 24 hours, while DOGE and BNB gained 0.7%. 

Ethereum (ETH) showed similar tepid gains. ETH’s price moved 0.6% in the last 24 hours, followed by Solana (SOL), which moved 0.2% higher. Retail sentiment around the leading altcoin trended in ‘bearish’ territory over the past day, while retail sentiment around Solana was in the ‘extremely bearish’ territory.

Read also: BTC Price Rebounds After ETF Flows Turn Positive – Solana Outperforms While Binance Coin, Ethereum Slide

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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