The crypto market has taken a hit lately. Bitcoin’s been locked in a stubborn standoff with key price barriers, and it’s dragging down the whole market—Ethereum, Solana, and XRP are all feeling the squeeze. The market’s looking more like a rough patch, with investors watching nervously as digital currencies struggle to find their footing.
The broader market uncertainty, fueled by rising trade tensions and concerns about potential tariffs, has sparked a wave of selling. The result? A market shakeup that has wiped out hundreds of millions in crypto value, leaving investors on edge.
Josh, an analyst from Crypto World, pointed out Bitcoin’s weakness, stating, “Bitcoin is obviously rejecting from a major area of resistance, currently dumping in the short term alongside the US stock market.”
Josh explained that Bitcoin’s latest downturn is closely tied to the US stock market, particularly the NASDAQ 100 index. He noted that the drop followed a fresh tariff announcement from President Donald Trump, which sparked another wave of selling across financial markets.
According to Josh, the historical pattern remains clear: whenever tariffs are mentioned, the stock market declines, and crypto follows suit. This trend has led to increased volatility, with a major liquidation event shaking the market.
“Anytime tariffs are mentioned, the market dumps… That’s simply what has been happening over the last couple of weeks,” he said.
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Bitcoin Faces Resistance, Ethereum Breaks Support
Bitcoin’s technical indicators suggest further weakness. The SuperTrend Indicator on the 4-day chart remains bullish but is nearing a bearish crossover.
The weekly MACD turned bearish over a month ago, confirming a slowdown in bullish momentum. The RSI’s bearish divergence indicates that its strength is waning. With crucial support between $70,000 and $74,000, Bitcoin meets resistance between $94,000 and $95,500. The slide can quicken if these levels are broken.
Ethereum is under pressure after closing a weekly candle below its multi-year support at $2,670–$2,680. The next critical level to watch is $2,100, with further downside risks toward $1,900 and $1,500 if bearish momentum continues.
The potential for a drop toward $1,500 looms if a weekly close below $2,100 is confirmed.
Read also: XRP Price Prediction as Ripple Whales Go on a Buying Frenzy
Altcoins Follow Bitcoin’s Downtrend
Solana is struggling after rejecting resistance at $178–$183 and is now testing support at $133–$139. The broader market appears caught in a technical correction, with multiple cryptocurrencies showing signs of potential further decline.
On a weekly timeframe, SOL remains bearish, raising concerns about further downside.
Josh emphasized the risks, saying, “This is looking bearish while the price is below this support… Expect major support between $120–$130.”
XRP attempted to break out above $2.65–$2.80 but failed, dropping back below that range. If the price falls below $2.25, the next targets are $1.95–$2.00. Josh noted that while previous bearish divergence has been invalidated, downside risks remain.
Chainlink (LINK) also rejected resistance at $17.60 and is now testing its golden pocket support at $14.90–$15.50.
If this level breaks, Josh predicts further losses toward $12.80–$13 and $10. “We never actually confirmed a bullish trend reversal… Ultimately, we’re still forming lower highs and lower lows,” he explained.
Market Outlook Remains Bearish
Josh warned that the crypto sector as a whole is still weak and that Bitcoin’s relationship to the stock market points to more volatility. There is a greater chance of another move down because Ethereum, Solana, and XRP are all having difficulty holding onto important levels.
Short-term sideways price action is possible, but the general trend remains bearish. Josh also warned traders not to rely too heavily on oversold RSI signals, as they do not guarantee a market bottom.
“If Bitcoin and the stock market are dumping, expect something similar for altcoins,” he concluded. With macroeconomic uncertainty and technical indicators signaling more weakness, traders are bracing for further volatility in the coming weeks.
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