Crypto Market Crash Today: Bitcoin, Ethereum, XRP & Cardano on the Brink
Bitcoin Price Slips Below $80K, Signaling Further Declines
Bitcoin (BTC) has fallen below the key $80,000 support level, now trading at $79,800. This marks a critical moment for the market, as further declines could trigger more liquidations. Traders are closely watching if BTC can reclaim $80K or if deeper losses are ahead.
BTC/USDT 1-day chart - TradingView via Bitget Trading Platform
Ethereum Price at Risk of Losing $2K Support
Ethereum (ETH) is hanging just above the crucial $2,000 level, currently priced at $2,005. A break below this support could lead to an accelerated drop, further shaking investor confidence.
ETH/USDT 1-day chart - TradingView via Bitget Trading Platform
XRP Price Faces Breakdown Below $2
XRP is teetering at $2, with heavy selling pressure threatening to push it lower. A confirmed breakdown could send prices tumbling further, extending the markets bearish momentum.
XRP/USDT 1-day chart - TradingView via Bitget Trading Platform
Cardano Price Falls Below $0.70
Cardano (ADA) has officially broken below $0.70, now trading at $0.69. The altcoin market is feeling the pressure, as selling intensifies across multiple assets.
ADA/USDT 1-day chart - TradingView via Bitget Trading Platform
Crypto Crash Reason Today: Why is the Crypto Market Down?
The ongoing market decline is being driven by heavy dumping and profit-taking, creating a snowball effect. As prices drop, panic selling increases, spreading FUD (fear, uncertainty, and doubt) throughout the crypto space. This cycle has led to widespread losses, with no immediate signs of recovery.
How to Profit in a Crashing Market? Short Selling Explained
Even in a bear market, traders can make money through short sellinga strategy that allows them to profit from declining prices. By opening a short position, traders can sell assets at a higher price and buy them back lower, pocketing the difference.
One of the best platforms for short selling is Bitget, offering leveraged trading and risk management tools. Want to short Bitcoin or other cryptos? Start trading on Bitget now https://partner.bitget.com/bg/cryptoticker.
Read more: https://cryptoticker.io/en/crypto-market-crash-today-bitcoin-ethereum-xrp-cardano/
Text source: CryptoTicker
