Bitcoin (BTC) Loses $100,000, Ripple Holders Refuse to Sell, Franklin Templeton’s XRP ETF to Get Approval, DOGE Risks Adding Zero – Top Weekly Crypto News

Bitcoin plunges below $100K first time since June amid crypto market correction

The leading cryptocurrency plunged to the lowest level since June while major altcoins got hit even harder.

• Price drop. Bitcoin fell below the $100,000 mark for the first time since June 22.

Bitcoin, the flagship cryptocurrency, plunged below the $100,000 level for the first time since June 22. It reached an intraday low of $99,941 on the OKX exchange before paring some losses. 

The top coin has now officially entered correction territory, plunging by more than 22% from its record peak that was achieved earlier this month.  

• Market sentiment. Betting platform Polymarket now shows a 51% chance of BTC hitting $90,000 this year.

The odds of Bitcoin collapsing all the way to $90,000 this year have now reached 51% on betting website Polymarket. For comparison, there was only an 11% chance of Bitcoin hitting that level just a month ago. This shows how quickly sentiment changes.

Franklin Templeton updates XRP ETF filing ahead of imminent SEC approval

US financial giant Franklin Templeton has updated its XRP ETF filing after Canary Capital and Bitwise made similar moves.

• Regulatory progress. US financial giant Franklin Templeton, managing $1.5 trillion in assets, has updated its S-1 filing for a proposed XRP exchange-traded fund (ETF).

US financial giant Franklin Templeton, which boasts $1.5 trillion in assets under management, has updated the S-1 filing for its XRP exchange-traded fund (ETF) filing. 

The S-1 filing is a registration document that an issuer files with the SEC in order to launch a publicly traded product, which is an XRP ETF in this particular case. 

• Key detail. The update features shortened Section 8(a) language, a procedural change under the Securities Act that signals the SEC is preparing to approve the registration.

The updated filing comes with shortened Section 8 (a) language, which is a clause in the Securities Act that makes it possible for the regulator to delay a registration’s effectiveness. 

Ripple’s $1B share buyback sees low participation despite $40B valuation

Ripple’s buyback has seen low participation, according to a recent report by The Information.

• Buyback details. Ripple Labs recently offered to repurchase $1 billion worth of shares at a $40 billion valuation.

According to a recent report by The Information, Ripple Labs offered to repurchase $1 billion worth of shares at a $40 billion valuation last month. However, the company reportedly saw the lowest participation rate yet in this tender offer, with many private shareholders choosing not to sell their stakes. 

This shows that investors are confident in Ripple’s long-term potential following the company’s victory over the SEC and massive acquisition spree. 

Shiba Inu faces heavy sell-off as 1 bllion SHIB flood exchanges

SHIB faces a substantial sell-off on the market, which could become a foundation for a further price downslide.

• Massive liquidation. Roughly 1 billion SHIB have been sold on exchanges, marking a major sell-off phase.

With around 1,000,000,000 SHIB being sold on exchanges, Shiba Inu is certainly in a significant sell-off phase. The price has dropped significantly as a result of this enormous selling volume, as the most recent chart breakdown illustrates. 

The current bearish trend and the abrupt increase in selling activity raise grave doubts about SHIB’s near future. As of press time, the price has broken through significant support levels and fallen below the $0.000010 mark. The most recent sell-off has coincided with an increase in volume, which is frequently a crucial sign of capitulation.

Dogecoin faces bearish setup as analysts warn of potential drop below $0.10

DOGE has formed its weakest setups in months after losing key support, setting the stage for a brutal 40% correction.

• Price outlook. Dogecoin (DOGE) may be entering a prolonged bearish phase.

According to the latest price projections, Dogecoin’s price setup looks like a time bomb with a slow fuse. It turns out the break under $0.18 was not manipulation or an accidental slip but the final line keeping DOGE from reopening the path back toward $0.12. What’s even worse, it may be below $0.10 by the end of 2025.