BREAKING: Ethereum Price Crashes Below $2,500 as Crypto Market Drops 10%
Ethereum Crashes Below $2,500 as Bitcoin Dips Under $90K
The crypto market has suffered a brutal crash, losing over 10% in the past 24 hours. Ethereums price plunged below $2,500, raising fears of further declines. Meanwhile, Bitcoin broke below the $90,000 mark, signaling more trouble ahead for the market. Analysts warn that Ethereum could potentially drop to as low as $1,800 if selling pressure continues.
Why Is the Market Crashing?
Several key factors have triggered this sharp downturn:
SEC ETF Delays The long-awaited approval of a spot Ethereum ETF by the U.S. SEC is still uncertain. The lack of progress has created investor anxiety, causing many to hold off on further investments.
Profit-Taking from the Previous Bull Market Many traders are cashing in on gains from the recent bull run, leading to large-scale sell-offs that have accelerated the price drop.
Bybit Hack Shakes Confidence A $1.4 billion hack on the major exchange Bybit has rattled the crypto market. Security concerns often lead to panic selling, as investors rush to secure their funds.
Ethereum Price Prediction: How Low Can It Go?
With Bitcoin showing weakness below $90,000, Ethereum is now at risk of further losses. Analysts are watching key support levels:
- $2,200 First major support; a break below could lead to more declines.
- $2,000 Psychological level that could trigger panic selling.
- $1,800 Strong historical support, but a break below could spell disaster.
- $1,500 A worst-case scenario if market sentiment worsens.
With uncertainty surrounding the SEC ETF approval, profit-taking, and security concerns, Ethereums fate hangs in the balance. If Bitcoin continues its decline, ETH could face more downside in the coming days.
Read more: https://cryptoticker.io/en/ethereum-crash-below-2500-bitcoin-90k-market-drops/
Text source: CryptoTicker
