Bitcoin and Ethereum Face Increasing Selling Pressure Amid Fears of Another Downward Wave
The cryptocurrency market is facing increasing selling pressure after losing approximately $68.75 billion in market capitalization over 24 hours, with its total value declining 2.5% to $2.75 trillion.
Bitcoin (BTC), trading near $80,108, faces key support levels at $79,172 and $78,416. A break below these levels could lead to a potential decline toward $76,269, while the price needs to reclaim $80,920 to improve short-term momentum.
Ethereum (ETH) is facing pressure from whale selling and outflows from exchange-traded funds. Technical analysis points to a possible decline toward $2,026, putting the $2,000 level in focus.
Pressure intensified after $342.38 million worth of trading positions were liquidated, alongside weakness in U.S. and Asian technology stocks.
Downward pressure on Bitcoin and Ethereum may persist if prices fail to reclaim the broken support levels, but these levels remain possible technical scenarios rather than a confirmed decline.
The cryptocurrency market is facing increasing selling pressure after losing approximately $68.75 billion in market capitalization over 24 hours, with its total value declining 2.5% to $2.75 trillion.
Bitcoin (BTC), trading near $80,108, faces key support levels at $79,172 and $78,416. A break below these levels could lead to a potential decline toward $76,269, while the price needs to reclaim $80,920 to improve short-term momentum.
Ethereum (ETH) is facing pressure from whale selling and outflows from exchange-traded funds. Technical analysis points to a possible decline toward $2,026, putting the $2,000 level in focus.
Pressure intensified after $342.38 million worth of trading positions were liquidated, alongside weakness in U.S. and Asian technology stocks.
Downward pressure on Bitcoin and Ethereum may persist if prices fail to reclaim the broken support levels, but these levels remain possible technical scenarios rather than a confirmed decline.
