- Bitcoin dropped 5% to $82,310, continuing a month-long decline of over 14%.
- Ethereum broke a crucial 994-day support, falling to a 465-day low of $2,060.
- Bearish technical indicators suggest further downside, with ETH possibly dropping to $1,200 or lower.
The cryptocurrency market is facing significant pressure as Bitcoin, Ethereum, and other major coins tumble. Bitcoin’s 5% drop follows a broader downtrend fueled by weak momentum and uncertainty surrounding regulatory developments.
Market sentiment remains bearish, with ETH failing to reach a new all-time high in this cycle. XRP, Solana, and ADA have also suffered major losses, reinforcing the negative outlook.
Crypto Market in Freefall: Is This the End of the Bull Run
Ethereum’s technical breakdown has intensified concerns, as it has now entered bearish territory on major indicators like RSI and MACD. The failure to hold above $2,300 could push ETH down to levels not seen since early 2023. Meanwhile, Bitcoin’s market cap has declined 4.29% to $1.63 trillion, reflecting broader weakness across digital assets.
Adding to the uncertainty, Donald Trump’s announcement of a US crypto reserve, including Bitcoin and Ethereum, has sparked mixed reactions. While it signals institutional recognition, some investors fear increased government intervention could introduce new risks. The market’s initial reaction suggests a preference for regulatory clarity over sudden policy shifts.
A deeper analysis suggests Ethereum may still have room to fall, with technical patterns pointing toward a potential target as low as $760. This would mark the lowest price since 2021 and indicate a full-fledged market correction. On the other hand, a quick recovery above long-term trend lines could provide hope for a short-term rally.
Investors are watching whether Bitcoin can stabilize above $80,000 or risk further downside. If the bearish momentum continues, traders might seek safe-haven assets, shifting capital away from volatile digital currencies. The crypto market’s next moves will depend heavily on global economic trends and upcoming regulatory announcements.
The recent downturn underscores the volatility of the crypto market. While some see this as a long-term buying opportunity, others fear that the cycle has peaked. Whether this is a temporary correction or the start of a deeper decline remains to be seen.
“The stock market is filled with individuals who know the price of everything but the value of nothing.” – Philip Fisher
