The cryptocurrency market has experienced a sharp bearish correction, with a collective decline of 6.73%. Liquidations exceeded $28 billion, marking the most significant drop since the 2024 U.S. elections. Bitcoin, Ethereum, and XRP have all breached critical support levels, signaling increased market volatility and raising questions about whether this is a time to hold or adjust positions.
๐๐ข๐ญ๐๐จ๐ข๐ง ๐๐ข๐ฉ๐ฌ ๐๐๐ฅ๐จ๐ฐ ๐ญ๐ก๐ $๐๐๐๐ ๐๐๐ซ๐ค โจโจโจ
Bitcoinโs price fell by 5.56%, with 24-hour trading volumes surging to $47.79 billionโan increase of 124.74%. For the first time since January 17, Bitcoin dropped below its crucial $100,000 support level, bringing its market capitalization to $1.95 trillion and dominance to 58.31%. Technical indicators, such as the Relative Strength Index (RSI), show a bearish divergence, while the 50-day EMA offers temporary support amid heightened volatility. A recovery could push Bitcoin back above $100K, but if bearish momentum persists, the price might retest its $92,000 level.
๐๐ญ๐ก๐๐ซ๐๐ฎ๐ฆ ๐๐ญ๐ซ๐ฎ๐ ๐ ๐ฅ๐๐ฌ ๐๐๐๐ซ $๐,๐๐๐ ๐๐ฎ๐ฉ๐ฉ๐จ๐ซ๐ญ ๐ฅ
Ethereum has failed to sustain its key support level of $3,100, recording an 8.31% drop over the past 24 hours. Year-to-date, Ethereum has delivered a negative return of 7.77%, reflecting declining investor interest. The MACD indicates neutral movement, while the SMA points to bearish convergence, signaling the potential for further losses. If bullish sentiment returns, Ethereum could retest the $3,300 resistance level. Conversely, bearish dominance might lead to a new multi-month low near $2,800.
๐๐๐ ๐๐ซ๐๐๐ค๐ฌ ๐๐๐ฅ๐จ๐ฐ ๐๐ญ๐ฌ $๐ ๐๐ฎ๐ฉ๐ฉ๐จ๐ซ๐ญ ๐๐๐ฏ๐๐ฅ๐๐
Ripple (XRP) has faced a significant double-digit decline, losing 10.08% in value over 24 hours, accompanied by a 170% surge in trading volume to $8.85 billion. XRP now trades at $2.83, with a weekly loss of 11.83%. The RSI indicator reflects a sharp rejection near the overbought zone, signaling bearish pressure. If sentiment improves, XRP could recover above $3 and aim for a new yearly high. However, prolonged uncertainty may drive the price down to $2.50.
๐๐๐ซ๐ค๐๐ญ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐
๐๐๐ฌ๐ฅ๐ฅ๐ฅ
1๏ธโฃ๐๐ก๐ฒ ๐ข๐ฌ ๐ญ๐ก๐ ๐๐ซ๐ฒ๐ฉ๐ญ๐จ ๐ฆ๐๐ซ๐ค๐๐ญ ๐๐๐๐ฅ๐ข๐ง๐ข๐ง๐ ๐ญ๐จ๐๐๐ฒ?
๐ดA massive liquidation of over $650 million in 24 hours has contributed to the bearish sentiment.
2๏ธโฃ๐๐จ๐ฐ ๐ฅ๐จ๐ฐ ๐๐๐ง ๐๐ข๐ญ๐๐จ๐ข๐ง ๐ ๐จ?
๐ดWith current market trends, Bitcoin might retest $95,000 in the near term.
3๏ธโฃ๐๐๐ง ๐๐ญ๐ก๐๐ซ๐๐ฎ๐ฆ ๐ซ๐๐๐จ๐ฏ๐๐ซ?
๐ดIf bullish momentum returns, Ethereum could reach new all-time highs by late 2025.
4๏ธโฃ๐๐ก๐๐ญ ๐ข๐ฌ ๐๐๐'๐ฌ ๐๐ฅ๐ฅ-๐ญ๐ข๐ฆ๐ ๐ก๐ข๐ ๐ก?
๐ดXRP's record high of $3.84 was achieved on January 4, 2018.
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