A sharp decline in Bitcoin below the psychologically significant $100,000 support level has triggered widespread selling pressure across the cryptocurrency market, amplifying volatility amid current geopolitical tensions and bearish technical signals.
Bitcoin’s failure to hold the $100,000 mark represents a significant technical setback. Analysts warn of potential further declines toward the $93,000 level if this key support cannot be decisively reclaimed.
Ether (ETH) similarly mirrored the broader market weakness, falling below its own crucial support levels. Market technicians identify the $2,111 level as a critical last line of defense against steeper losses for ETH.
XRP also succumbed to the selling pressure, breaking below the $2 support level. The next major support for XRP is seen near $1.61. An oversold RSI reading for XRP, however, hints at the potential for a short-term relief bounce.
Solana (SOL) confirmed a bearish head and shoulders pattern on its charts, typically indicating the risk of extended downside action. Despite this pattern, SOL’s oversold RSI condition suggests the possibility of a short-term counter-trend bounce.
Profit-taking appears to be impacting Hyperliquid (HYPE), with its price encountering pressure. The 50-day Simple Moving Average (SMA) near $32.26 is viewed as critical support; a breakdown below this level could potentially trigger a fall toward $28.50.