Crypto commentator Crypto Wimar says the recent rout in Bitcoin, Ethereum and XRP owes largely to sustained selling pressure — and warned the slide may not be over. What pushed prices lower - Wintermute selling: In an X post, Crypto Wimar highlighted that market maker Wintermute has liquidated roughly 40% of its holdings over the past three weeks, and continues to dump millions in BTC and ETH on Binance. That heavy supply flow is a key contributor to the downward price action. - Weakening demand: Data from CryptoQuant shows institutional accumulation is slowing. Although 117 new companies added BTC to their treasuries this year, overall bitcoin treasury growth is losing momentum. On the ETH side, BitMine is reportedly the only treasury-level buyer still accumulating ETH at a notable pace during the downturn. Macro headwinds - BOJ rate hike risk: Traders are also bracing for the Bank of Japan to raise rates at its December 19 meeting. Polymarket currently puts the chance of a 25-basis-point BOJ hike at 97.4%. A rising rate in Japan would spotlight the yen carry trade, encouraging investors to unwind risk positions and sell assets ahead of a potential yen appreciation and higher yen-denominated borrowing costs — a development that can add downward pressure on crypto. - Fed rate dynamics: The cryptos’ decline has coincided with recent central bank moves elsewhere. Bitcoin, Ethereum and XRP experienced pullbacks following each Fed rate cut this year; markets had rallied into the Fed’s 25-basis-point cut last week, suggesting the easing was largely priced in and a retracement followed. Technical and market outlook - Technical warning signs: Crypto analyst Titan of Crypto flagged a possible bear pennant forming on BTC charts, a pattern investors don’t want to see in a bull market. Titan warned that the structure is still developing but could precede a fall below $50,000, potentially as early as February next year. - Veteran skepticism: Veteran trader Peter Brandt has also suggested BTC could drop below $50,000, arguing the flagship crypto may already be in a bear market. Bottom line Heavy selling from major market participants like Wintermute, slowing institutional accumulation, and looming macro events — particularly a likely BOJ rate increase — are combining to strain BTC, ETH and XRP. Technical setups flagged by analysts add another layer of risk, meaning traders and investors should watch order flows and macro calendars closely in the weeks ahead. Read more AI-generated news on: undefined/news

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