๐จ Today's Crypto Breaking News & Market Update
โข Bitcoin (BTC) has dropped below $75,000, with leveraged selling and market panic causing prices to fall rapidly.
โข Ethereum (ETH) under pressure, with support levels around $2,100โ$2,300.
โข XRP is in an oversold condition, although there may be a small bounce, the trend remains weak.
โข Galaxy Digital has reported a loss of $482 million, indicating the pressure in the crypto market.
โข Large traders are unlocking leveraged positions, further accelerating the downtrend.
๐ Why is the market in a downtrend?
1๏ธโฃ Macro Risk-Off
The world's stock markets and risk assets are weak, which is putting pressure on crypto as well.
2๏ธโฃ Technical Breakdown
BTC $80K has broken the $75K support. The price is dropping rapidly due to long position liquidations.
3๏ธโฃ Leveraged Liquidation
Large long positions in BTC and ETH futures have been liquidated, strengthening the downtrend.
4๏ธโฃ Institutional Demand has decreased
ETF outflows and low buying pressure from large institutions are not able to support the market.
5๏ธโฃ Safe-Haven Rotation
Investment in safe havens like gold and bonds is increasing.
๐ Key Levels (Trading Analysis)
BTC:
โข Resistance: $78,000โ$80,000
โข Support: $71,000โ$73,000
โข If it goes below $73K, the downtrend could become even more severe.
ETH:
โข Support: $2,100โ$2,300
โข Funding rates are negative, showing a short trend in the stock market.
Sentiment:
โข Fear & Greed Index: Extreme Fear
โข Trading volume has decreased, indicating that buyers are still looking for the right time.
๐ฎ Near Future Guidance
Bearish Case:
If BTC remains below $75K, it may test $70Kโ$73K.
Bullish Reversal Signal:
If BTC rises above $78Kโ$80K, there may be a short squeeze and a small relief bounce.
๐ง Brief Information
The market is now in a downtrend because:
Macro risk-off, technical breakdown, leveraged liquidation, and low institutional demand.
Traders should monitor key support and resistance levels, along with global market sentiment. #TrumpEndsShutdown #USIranStandoff #KevinWarshNominationBullOrBear #xAICryptoExpertRecruitment #TrumpProCrypto $BTC
