Bitcoin assumes control, while Solana, XRP, and Ethereum continue to struggle
After falling under $98.5K on Sunday, Bitcoin bounced back to over $ 101 K. It currently holds a 65% market dominance, while popular altcoins face difficulties. After the U.S. attacked multiple Iranian nuclear sites, BTC dropped to a multi-week low, representing yet another decline within the last day.
The growing dominance of Bitcoin highlights the fact that altcoins have seen even more substantial price declines. With the escalation of tensions in the Middle East, Ethereum (ETH), Ripple (XRP), Solana, Dogecoin, and Cardano experienced significant corrections
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Bitcoin Holds at Critical Support as Altcoins Show Signs of Deeper Weakness
Bitcoin is currently testing a crucial support level around $101,500. A confirmed daily close below this threshold could signal the onset of a deeper correction. In parallel, Ethereum (ETH) and XRP have already breached significant support zones, suggesting a continuation of the downtrend. ETH may slide toward the $2,000 mark, while XRP risks retreating to $1.80, reflecting broader market weakness.
The overall altcoin market is underperforming, with losses extending beyond small-cap assets. Ethereum, the leading altcoin by market capitalization, dropped over 7% in the past 24 hours, marking a steep decline that underscores deteriorating sentiment across the sector.
Market activity indicates that Bitcoin remains in a corrective phase. A sustained close below $100,000 on the daily chart could lead to a retest of the Sunday low at $98,200. Technical indicators support the bearish outlook:
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The Relative Strength Index (RSI) stands at 38, below the neutral 50 level, confirming strong bearish momentum.
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The Moving Average Convergence Divergence (MACD) shows a bearish crossover, with a growing red histogram below the baseline—further evidence of mounting selling pressure and a prevailing downtrend.
With leading assets breaking down and technical signals aligning bearishly, the crypto market appears poised for continued correction unless key support levels are reclaimed swiftly.
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