Currently, Bitcoin ($BTC) is trading at around $95,700 and Ethereum ($ETH) is priced at $3,635. Based on recent market trends, both of these cryptocurrencies may have significant downside potential. The bearish outlook stems from the fact that both Bitcoin and Ethereum have encountered resistance at their recent highs and are currently showing signs of corrective behavior.
Bitcoin, in particular, faces pressure around key support levels, and any break below these levels could potentially signal further downside. Similarly, Ethereum, despite its strong performance earlier, is encountering selling pressure as it moves lower, suggesting room for further decline if bearish sentiment continues to dominate.
As always, it's crucial to keep an eye on broader market factors, such as regulatory developments, macroeconomic shifts, and global market sentiment, as they can significantly impact cryptocurrency prices.