In recent days, the cryptocurrency market has been experiencing instability, with notable price fluctuations in Bitcoin and Ethereum, along with certain predictions regarding other altcoins.
Current Situation of Bitcoin
Bitcoin is attempting to hold around $112,000, but significant resistance from bears is creating hurdles for bulls. Maelstrom Fund chief investment officer Arthur Hayes has expressed concerns that current market conditions could drive BTC down to $100,000.
Predictions for Ethereum and Other Altcoins
Ethereum is also facing pressure, currently supported between $3,422 and $3,300. A breakout above $3,652 could pave the way to $3,941, but a drop below $3,013 remains a risk.
Overall Trends and Upcoming Resistance Levels
Amidst the overall decline in altcoins, such as XRP and BNB, traders are focused on support and resistance levels. XRP, for example, may aim for levels at $3.19 and $3.33, while BNB has faced strong selling below $769.
The cryptocurrency market remains under pressure from bears. Traders should closely monitor support levels, as potential breakouts could significantly affect future developments.
