Today, the cryptocurrency market experienced significant turbulence and selling pressure. Bitcoin (BTC) fell to around $104,594, while Ethereum (ETH) is estimated at approximately $3,729, reflecting a clear decline in both liquidity and investor confidence.
🔹 Updated Key Figures
Bitcoin (BTC): Around $104,594, marking a notable intraday drop.
Ethereum (ETH): Around $3,729, according to multiple sources.
The total market capitalization of cryptocurrencies has dropped sharply, erasing hundreds of millions of dollars in just a few hours.
🔹 Factors Behind the Decline
Large Liquidation Wave
The sudden drop triggered mass liquidation of leveraged positions, accelerating the downward movement.
Global Market Pressure
Broader macroeconomic concerns and investor risk aversion have spilled over into digital assets.
Low Liquidity and High Volatility
During sharp selloffs, liquidity often dries up, widening bid–ask spreads and amplifying volatility.
🔹 Updated Technical Outlook
If Bitcoin fails to hold above the $104,500–$105,000 range, it could test lower supports near $100,000.
A rebound above $108,000–$110,000 would signal a potential short-term recovery.
Ethereum needs to maintain above $3,700 to sustain upward momentum; falling below could open the door for deeper corrections.
🔗 News source : https://www.binance.com/en/price/bitcoin
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