The cryptocurrency market is showing signs of deepening weakness midweek, as bearish momentum grips major digital assets. Bitcoin, Ethereum, and Ripple are all under pressure as global macro uncertainty, rising risk aversion, and technical signals suggest that further downside could be on the horizon.
🪙 Bitcoin Under Strain: $73K Support Could Be Next Stop
Bitcoin (BTC) is currently hovering near $76,200, after retreating sharply from its recent high of $85,000. The leading cryptocurrency has now dropped over 10% since its early April peak, and traders are eyeing the $73,000 zone as the next possible support level.
🔍 Key Indicators:
- The Relative Strength Index (RSI) is sitting at 33, confirming a bearish bias with room for more downside.
- Failure to hold above $74,500 could accelerate the drop toward $73,000, followed by $70,000 as deeper support.
However, if BTC manages to reclaim and sustain above the $78,000–$80,000 range, a bounce back toward $85,000 remains possible.
⚠️ Ethereum Dips Below $1,400: Is $1,300 Next?
Ethereum (ETH) continues to weaken, falling to $1,375 on Wednesday — its lowest level since October 2023. A failed breakout attempt above $1,861 has turned into a sharp correction, with ETH already down nearly 13% over the past week.
📉 Technical Snapshot:
- RSI is at 23, signaling deeply oversold conditions, but momentum remains negative.
- A clean break below $1,449 opens the path toward $1,300, a key psychological level.
- Recovery attempts are likely to face resistance at $1,500, and stronger pressure near $1,700.
Until ETH breaks above its moving averages, the path of least resistance remains downward.
🌊 Ripple (XRP) Battles to Stay Afloat Above $1.60
XRP is trading near $1.77, having broken below its $1.96 support earlier this week. The 200-day EMA rejection has added weight to the bearish scenario, with XRP already touching a new yearly low of $1.61.
📊 Bearish Triggers:
- RSI is nearing 30, the edge of oversold territory, yet no bounce is visible.
- A sustained move below $1.61 could expose XRP to further downside toward $1.30, a critical weekly support level.
- Any rebound may find stiff resistance near the $1.90–$2.00 region.
🧭 Final Thoughts: Crypto Traders Brace for Impact
The crypto market remains highly sensitive to external shocks, particularly from macroeconomic shifts and policy uncertainty. With technical indicators flashing red across the board, traders are closely watching support zones to determine if this dip turns into a full-scale correction — or a short-term shakeout before the next leg higher.