TL;DR
- Bitcoin trades around $108,309, down 2.25% in 24 hours, showing signs of short-term weakness.
- Ethereum slips to $3,883.88, down 3.59%, facing resistance below $4,000.
- BNB hovers near $1,076.65, down 3.42%, with the $1,000 support level in focus and potential for further declines.
Bitcoin has fallen below $108,500, currently trading at $108,308.98, reflecting a 2.25% drop in the last 24 hours. The recent decline comes after the cryptocurrency failed to maintain momentum above $110,000, prompting cautious sentiment among traders. Momentum indicators remain bearish, with the RSI near 41 and the MACD histogram turning negative, suggesting the possibility of further retracement. Trading volume remains strong, exceeding $60 billion in the last 24 hours, with $319 million in liquidations reported.
Ethereum Encounters Resistance Below $4,000
Ethereum is trading around $3,883.88, down 3.59% over the past day. The asset faces notable resistance under $4,000, and technical indicators point to continued downside risk, with the RSI below 40 and a bearish MACD crossover. Ethereum still leads in derivatives trading, showing more than $87 million in volume, slightly surpassing Bitcoin. Short-term traders are watching for support near $3,800, which could determine the next directional move.
BNB Approaches $1,000 Support Level
Among top cryptocurrencies, BNB is under pressure, trading at $1,076.65, down 3.42% in the past 24 hours. The $1,000 mark is a key psychological and technical level, and a decisive breach could trigger further declines toward the mid-$900 range. Compared with other large-cap altcoins like Solana ($185.56, -3.25%) and XRP ($2.42, -1.72%), BNB has seen a steeper pullback, signaling increased volatility and cautious sentiment.
Altcoins Show Mixed Signals
Other altcoins present varied performance. Dogecoin trades at $0.1938, down 3.2%, Cardano at $0.6440 (-3.29%), Chainlink at $17.96 (-4.95%), and Hyperliquid at $35.66 (-6.15%). TRON holds at $0.3216, down only 0.5%. While most assets have experienced declines, moderate trading volume suggests investors remain active, with Ethereum and Bitcoin seeing the largest liquidations while smaller altcoins show lighter volatility.
Market Sentiment Turns Cautious
With liquidations and negative momentum indicators, traders appear defensive. Analysts suggest Bitcoin may retest lower supports if macro conditions remain uncertain. While the short-term outlook is cautious, underlying fundamentals for BTC, ETH, and BNB remain solid.
