The prices of some major crypto have dropped across the board today. Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and other digital assets fell between 1% and 9% in the past 24 hours. The total crypto market lost 2.66% of its value and now stands at $3.33 trillion. Trading volume increased by 7.21%, which shows more people are buying and selling during this market decline.
The main reason behind this drop seems to be changing sentiment around Bitcoin and Ethereum. Analysts are pointing to some bearish chart signals and signs that recent bullish momentum might be running out of steam.
What you'll learn 👉
Bitcoin Price Breaks Down from Key Support Zone
The Crypto Express reports that BTC price has dropped out of a descending triangle pattern on the 4-hour chart. Bitcoin tried several times to stay above $107,000 but couldn’t hold that level. The price broke below the support line and is now having trouble getting back above the $106,800–$107,300 range, which has now become a resistance area.
#BTC/USDT ANALYSIS
— The Crypto Express (@TheCryptoExpres) May 30, 2025
Bitcoin has broken down from the descending triangle pattern and is currently undergoing a retest below the breakdown level. The Ichimoku Cloud is acting as a resistance barrier above the price.
A successful retest would confirm the breakdown and likely lead… pic.twitter.com/ibtBvnLciP
This breakdown occurred under the Ichimoku Cloud, which is acting as a resistance barrier. The confluence of resistance at the descending trendline and the cloud is reinforcing the bearish setup. Unless Bitcoin reclaims the $107,500–$108,000 level soon, the chart suggests a possible move lower toward $104,000, $102,500, or even $100,000.
Top analyst Crypto Seth added that BTC has just triggered its first 4-hour sell signal since April. His chart highlights that the rejection from the $112,000 swing high has now opened up a liquidity zone between $102,000 and $103,000, an area that may be tested next.
🚨 $BTC JUST GOT 4H SELL SIGNAL FIRST TIME SINCE APRIL. 😶🌫️
— Crypto Seth (@seth_fin) May 30, 2025
Are we done soon? 102-103K support is very close. Might be testing that liquidity. pic.twitter.com/LMgaNe3lyU
He also noted that retail traders are now net short, which could create conditions for a short squeeze if the BTC price rebounds.
Crypto retail traders are net short right now on $BTC! pic.twitter.com/HeyVavZjhZ
— Crypto Seth (@seth_fin) May 29, 2025
Ethereum Price Pulls Back After Reclaiming Trendline
Ethereum has also lost ground after a recent breakout above its long-term descending trendline. As shown by Income Sharks on X, ETH price held support at the $2,700–$2,800 level after its breakout and is now consolidating just under $2,950. Despite the pullback, the structure remains bullish unless the price loses support at $2,700.
The ETH chart outlines a possible stair-step move higher, with $3,000 and $4,000 as the next major targets if the uptrend resumes. So far, ETH is still above its key breakout zone, which many traders are watching closely. The recent dip appears to be a healthy correction unless the asset breaks below the $2,700 support level.
Read Also: Buy Before the Boom? 5 Altcoins That Could Be 2025’s Breakout Stars
$ETH still looks great. A little pullback after a big breakout was expected. Next stop is a close above the dotted line. Squiggles still look great, too many are freaking out every single red candle. Zoom out and take a break if lower time frame chop is making you nervous. pic.twitter.com/DIno6tOcZs
— IncomeSharks (@IncomeSharks) May 30, 2025
Short-Term Sentiment Cools Across the Market
Short-term sentiment across the crypto space is showing signs of fatigue. After weeks of bullish momentum, the market is experiencing a pause, driven by technical rejections at resistance levels. Both BTC and ETH remain well above their 2024 lows, but traders are now watching key support zones closely to gauge the strength of the trend.
Bitcoin’s behavior around $102,000–$107,000 and Ethereum’s ability to hold $2,700 will likely determine whether the market resumes its uptrend or enters a deeper correction. With retail positions leaning short and volatility rising, the next few sessions may provide clarity on market direction.
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