Bitcoin News Today: XRP's Death Cross and BTC Shorts Spark Bear Market Spiral

A major cryptocurrency trader associated with Roobet and Stake.com has closed a profitable short position on XRP and significantly expanded his bearish bet on Bitcoin, signaling heightened volatility in the crypto market. According to blockchain analytics firm Lookonchain, wallet address 0x7B7b secured a $945,000 profit from the XRP trade before ramping up his BTC short to 2,222 BTC, valued at approximately $224.5 million at current prices, as reported by blockchain.news. This move underscores the growing influence of high-leverage positions in shaping market dynamics, particularly as XRP and BTC face renewed selling pressure.

The XRP market has been under severe strain, with the token recently falling 6% to $2.25 amid broader crypto market weakness. Total market capitalization dropped over 4% to $3.45 trillion on November 4, 2025, as Bitcoin dipped below $104,000 and altcoins continued to underperform, as Coinpedia reported. XRP's technical indicators paint a grim picture: the price failed to hold key resistance levels ($2.68–$2.84) and is now testing critical support near $2.00. Analysts warn that a breakdown below this threshold could accelerate the decline toward $1.72, with Bitcoin's dominance rising above 60% as capital flows away from smaller cryptocurrencies, as Coinpedia noted.

Compounding the bearish outlook, XRP recently confirmed a rare "death cross" against Bitcoin, with its 50-day moving average dipping below the 200-day line near 0.00002380 BTC, according to TradingView.

Historical patterns suggest this setup could drive the pair toward 0.00002050–0.00001950 BTC, translating to $2.26–$2.33 if Bitcoin remains near $101,000. Bulls would need a decisive break above 0.00002384 BTC to invalidate the bearish signal and open a path toward $2.75.

Meanwhile, the whale's expanded BTC short position adds another layer of risk. With 2,222 BTC on the line, the trader's actions could amplify downward pressure on Bitcoin, especially if macroeconomic concerns or regulatory developments intensify. Market watchers are closely monitoring support levels around $90,000–$95,000, which could become pivotal if the short position triggers broader liquidations, as earlier reporting detailed.

In a contrasting move, OKX has introduced a price protection mechanism for its Real-World Asset (RWA) token index to curb volatility. Effective November 6, the exchange will clamp index prices within a 10% range of real-world asset values, using XAUT/USD as a reference point, as blockchain.news reported. This measure aims to stabilize trading environments for RWA-linked tokens, though it remains to be seen whether similar protections will extend to more volatile assets like XRP or BTC.

The interplay of these developments highlights the fragility of the current market. XRP's technical breakdown, combined with aggressive shorting by high-profile traders, creates a self-reinforcing cycle of selling. However, bulls remain cautiously optimistic that a sustained rebound above $2.50 could reverse the trend, though such a move would require a significant shift in sentiment.