Market Overview

The crypto market continues to stabilize following a broad markdown phase. Several major assets are showing early signs of demand returning, but overall market structure still suggests base-building rather than a confirmed markup phase.

Composite Operator activity suggests absorption may be occurring at lower levels, particularly in major assets.

Bitcoin

Asset: Bitcoin

Current Price: ~69,375

Wyckoff Structure

Bitcoin continues trading inside a Phase C structure following a spring/test sequence. After the markdown from the prior distribution range, price briefly undercut support and is now attempting to stabilize.

Composite Operator Behavior

Evidence suggests demand is beginning to absorb supply near the lows.

Indicators supporting this view:

• Demand bars appearing after the spring
• Stabilizing price structure
• Technometer turning higher

Key Levels

Resistance: 74,000 – 78,000
Support: 64,000 – 66,000

Interpretation

Bitcoin appears to be testing the spring area, with the market attempting to confirm whether demand is strong enough to initiate Phase D.

Ethereum

Asset: Ethereum

Current Price: ~2,021

Wyckoff Structure

Ethereum is trading inside a Phase B trading range following a selling climax earlier in the structure.

The market appears to be building a cause after the sharp markdown.

Composite Operator Behavior

Institutional operators appear to be absorbing supply near the lower boundary of the range.

Signals supporting this:

• Declining pessimism readings
• Wyckoff Force stabilizing
• Repeated support tests holding

Key Levels

Resistance: 2,400 – 2,500
Support: 1,800 – 1,900

Interpretation

Ethereum continues range construction, which could precede a Phase C test or eventual Phase D markup.

Crypto Total Market

Indicator: Crypto Total Market Cap

Wyckoff Structure

The total crypto market shows a completed distribution followed by markdown, with price now stabilizing near the lower range of the move.

The recent Selling Climax and Sign of Weakness sequence suggests the market is transitioning toward base-building behavior.

Composite Operator Behavior

Recent price action suggests demand entering after capitulation selling.

Signals include:

• Demand bars appearing after the SOW
• Wyckoff Force turning upward
• Technometer rebounding from oversold conditions

Key Levels

Resistance: 2.6T – 2.8T
Support: 2.2T – 2.3T

Interpretation

The broader crypto market appears to be attempting to stabilize after the markdown phase.

Further sideways action is likely while the market builds a new cause.

XRP

Asset: XRP

Current Price: ~1.37

Wyckoff Structure

XRP appears to be completing Phase C with a spring/SOW type event near the lower boundary of its trading channel.

Price has begun stabilizing after the breakdown.

Composite Operator Behavior

The recent recovery suggests demand stepping in after a climactic decline.

Signals include:

• Large volume spike at the spring
• Stabilizing structure
• Technometer beginning to rise

Key Levels

Resistance: 1.55 – 1.65
Support: 1.20 – 1.25

Interpretation

XRP may be in the testing phase following the spring, which is typical behavior before potential Phase D development.

Wyckoff Market Pulse Summary

The crypto market appears to be transitioning from markdown toward potential accumulation structures across several major assets.

Key observations:

• Bitcoin attempting to confirm a spring
• Ethereum building a trading range
• Total market stabilizing after markdown
• XRP testing a spring structure

The next major signal for the market will be successful tests of recent lows followed by expanding demand.

If demand continues to appear on pullbacks, the market may begin the early stages of a new accumulation phase.