Crypto Crash: Bitcoin Drops Below $100K, Ethereum Plunges, Altcoins Bleed

Crypto markets have experienced a significant downturn in the past 24 hours, with a collective decline of over 7%. Bitcoin slipped below the critical $100,000 level, Ethereum dropped under $3,000, and altcoins like XRP and Solana suffered double-digit losses. The market is on edge, with bearish technicals and growing uncertainty. Let's explore the top three reasons behind the latest crypto selloff.

Bitcoin's price dipped below $100,000, reaching $96,000, and the downtrend seems far from over. If selling pressure continues, BTC could soon test lower levels around $92,000 and $90,000. This sharp drop has sent shockwaves across the market, triggering liquidations and pushing traders into panic mode. When Bitcoin struggles, the entire crypto market follows. Ethereum crashed below $3,000, with downside targets near $2.6K and $2.4K. Meanwhile, XRP was the hardest hit, falling over 15% after being excluded from Hong Kong's approved crypto list, adding fuel to the fire.

Cryptos were already showing signs of exhaustion before this crash. The strong rallies that pushed Bitcoin past $100,000 and Ethereum toward $3.5K led to profit-taking, increasing selling pressure. Technically, BTC's breakdown under $100,000 has triggered a wave of stop-loss liquidations, accelerating the downtrend. Solana also fell below $200, dropping over 12% in a single day, proving that even strong altcoins aren't safe from this market-wide collapse.

Crypto isn't crashing in isolation—global markets are struggling too. Tech stocks are set to open in the red on Monday, which could lead to even more liquidations in the crypto space. As investors rush to minimize losses, riskier assets like cryptocurrencies are getting hit the hardest. This correlation with traditional finance means the crypto market could face more pain in the coming days, especially if macroeconomic concerns persist.

Looking ahead, the short-term outlook remains bearish. If traditional markets continue to struggle, cryptos could see another wave of sell-offs. Bitcoin's next key levels are at $92,0