Crypto Crash is HERE: Bitcoin, Ethereum and XRP take a Big Hit

The cryptocurrency market has been hit hard in the past 24 hours, with a decline of over 7% across the board. Bitcoin has slipped below the crucial $100K level, Ethereum has dropped under $3,000, and altcoins like XRP and Solana have suffered double-digit losses. But what’s driving this crash?

The crypto market is reeling from a 7% decline, with Bitcoin and Ethereum leading the losses. Here are the top three reasons behind the latest selloff.

1. Bitcoin’s Price Drop Triggers Panic Selling

Bitcoin’s price dipped below $100K, reaching $96K, and the downtrend seems far from over. According to the source, if the selling pressure continues, BTC could soon test lower levels around $92K and $90K. This sharp drop has sent shockwaves across the market, triggering liquidations and pushing traders into panic mode.

The source indicated that 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.

2. Weak Market Sentiment and Technical Breakdown

Cryptos were already showing signs of exhaustion before this crash. The strong rallies that pushed Bitcoin past $100K and Ethereum toward $3.5K led to profit-taking, increasing selling pressure. The source explained that technically, BTC’s breakdown under $100K 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. The source revealed that the market sentiment is weak, and the technical breakdown has made it difficult for cryptos to recover.

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3. Traditional Markets Are Dragging Crypto Down

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.

The source indicated that this correlation with traditional finance means the crypto market could face more pain in the coming days, especially if macroeconomic concerns persist.

What’s Next for Cryptos?

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 $92K and $90K, while Ethereum could drop toward $2.6K and $2.4K.

However, over the long term, many analysts believe that crypto remains in a broader bull cycle. This could just be a major correction before the next big rally. Only time will tell if the crypto market can recover from this latest crash.

Crypto Market in Free Fall: 3 Reasons Behind the Latest Crash

Source: En | Cryptoticker.io

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