Bitcoin Drops 0.25% Below $80,000, Ethereum Hangs Above $2,000

Bitcoin (BTC) has fallen below the key $80,000 support level, now trading at $79,800. This marks a critical moment for the market, as further declines could trigger more liquidations. Traders are closely watching if BTC can reclaim $80K or if deeper losses are ahead.

Ethereum (ETH) is hanging just above the crucial $2,000 level, currently priced at $2,005. A break below this support could lead to an accelerated drop, further shaking investor confidence.

XRP is teetering at $2, with heavy selling pressure threatening to push it lower. A confirmed breakdown could send prices tumbling further, extending the market’s bearish momentum.

Cardano (ADA) has officially broken below $0.70, now trading at $0.69. The altcoin market is feeling the pressure, as selling intensifies across multiple assets.

The ongoing market decline is being driven by heavy dumping and profit-taking, creating a snowball effect. As prices drop, panic selling increases, spreading fear, uncertainty, and doubt throughout the crypto space. This cycle has led to widespread losses, with no immediate signs of recovery.

Even in a bear market, traders can make money through short selling—a strategy that allows them to profit from declining prices. By opening a short position, traders can sell assets at a higher price and buy them back lower, pocketing the difference.