Bitcoin’s bear market week
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Bitcoin continued its free fall on Friday to end a volatile week, settling into a bear market.
The largest cryptocurrency by market value is down over 20% from its all-time high of $126,272 reached in October and breaking key technical levels by falling below $100,000, as noted by investor Louis Navellier, whose firm bears his name.
The largest exchange-traded funds that track bitcoin took a beating this week, with iShares Bitcoin Trust ETF, Fidelity Wise Origin Bitcoin Fund and Grayscale Bitcoin Trust ETF falling more than 8% apiece.
THE ETF REPORT: NEWS & ANALYSIS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| IBIT | ISHARES BITCOIN TRUST - USD ACC | 49.38 | -0.23 | -0.46% |
| FBTC | FIDELITY WISE ORIGIN BITCOIN FUND - USD ACC | 75.88 | -0.40 | -0.52% |
| GBTC | GRAYSCALE BITCOIN TRUST ETF - USD ACC | 68.05 | -0.35 | -0.51% |
The negative sentiment toward crypto continued this week after investors dialed back both bitcoin and ethereum, which saw steep ETF outflows through last week, with investors pulling out $932 million and $438 million, respectively, as tracked by CoinShares.
Ethereum is off 35.82% from its all-time intraday high of $4,955.23 reached in August 2025.
ETFs that track ethereum — iShares Ethereum Trust ETF, Grayscale Ethereum Trust ETF and Fidelity Ethereum Fund ETF — dropped nearly 10% this week.
PIRRO TARGETS CHINESE CRYPTO FRAUDSTERS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ETHA | ISHARES ETHEREUM TRUST NPV | 22.10 | -0.04 | -0.18% |
| ETHE | GRAYSCALE ETHEREUM MINI TRUST [ETH] | 24.00 | -0.04 | -0.17% |
| FETH | FIDELITY ETHEREUM FUND SHS | 29.18 | -0.06 | -0.21% |
While investors celebrated the end of the longest government shutdown in history, the euphoria was short-lived on concerns that delayed economic data tied to the shutdown will force the Federal Reserve to pause its rate-cutting expectations at the December meeting and beyond. Market watchers have dropped the probability of a rate cut next month to 45% while 54% see no move, according to the CME’s FedWatch Tool.
SHUTDOWN DELAYED INFLATION DATA BUT FED DOES OWN TRACKING
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 48461.93 | -249.04 | -0.51% |
| SP500 | S&P 500 | 6905.74 | -24.20 | -0.35% |
| I:COMP | NASDAQ COMPOSITE INDEX | 23474.349066 | -118.75 | -0.50% |
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While U.S. stocks saw big swings this week, with the three major averages ending mixed on Friday. The Dow was off more than 300 points, or 0.65%, while the S&P 500 lost 0.05% and the Nasdaq rose 0.13%.