- Bitcoin drops below $100,000 for the first time since January 17, 2025.
- Ethereum tests its crucial $3,000 support, signaling potential losses.
- XRP faces a significant 10.08% decline as market uncertainty rises.
The cryptocurrency market is experiencing a sharp downturn, with major assets like Bitcoin, Ethereum, and XRP struggling to maintain key support levels. Bitcoin has fallen below $100,000, marking a major psychological threshold for investors.
Ethereum has similarly faced difficulties, unable to hold its support level of $3,100, which has resulted in an 8.31% decline over the past 24 hours. The lack of momentum and the failure to breach key resistance levels highlight growing disinterest among investors.
Market Liquidations Push Bitcoin, Ethereum, and XRP Into Bearish Territory
The market’s liquidation wave, totaling over $28 billion, has caused a significant drop in the prices of top cryptocurrencies like Bitcoin, Ethereum, and XRP. Bitcoin, the market leader, plunged below $100,000 for the first time this year, sparking concerns about further declines. While the 50-day Exponential Moving Average (EMA) offers some support, market sentiment remains bearish, suggesting that Bitcoin could see a retest of its low at $92,000 if the trend persists.
Ethereum, the second-largest cryptocurrency, has struggled to maintain its crucial $3,100 support level. A correction of 8.31% in just 24 hours reflects investor uncertainty and a general disinterest in the asset. The Moving Average Convergence Divergence (MACD) indicator, along with other trend signals, suggests Ethereum may face further losses unless bullish momentum returns. The market’s lack of direction is also affecting XRP, which has recorded a double-digit drop and lost its important $3 support level.
Given the current market dynamics, investors should closely monitor the situation. While there may still be opportunities for long-term growth, short-term price movements are highly volatile, and careful risk management is essential.
“The market’s liquidity issues and the bearish sentiment are shaking the foundation of major cryptocurrencies, highlighting the uncertainty that investors must navigate.”
