Bitcoin is trading around $108,309, down 2.25% in the last 24 hours, after failing to sustain momentum above $110,000. The decline reflects bearish sentiment, with the Relative Strength Index (RSI) near 41 and the MACD histogram turning negative, indicating potential further retracement. Trading volume remains high at over $60 billion, while total liquidations hit $319 million, with $249 million from long positions alone.
Ethereum follows a similar trend, slipping to $3,883.88, down 3.59%, and facing resistance below the $4,000 level. Technical indicators show weakness, with the RSI below 40 and a bearish MACD crossover. Despite this, Ethereum leads in derivatives trading volume at over $87 million, slightly surpassing Bitcoin. Traders are watching for support near $3,800 to gauge the next move.
BNB is under significant pressure, trading at $1,076.65 with a 3.42% drop, and the $1,000 mark is a key psychological and technical support level. A breach could trigger declines toward the mid-$900 range. BNB's decline is steeper compared to other large-cap altcoins like Solana ($185.56, down 3.25%) and XRP ($2.42, down 1.72%), signaling increased volatility.
Other altcoins show mixed performance, with Dogecoin at $0.1938 (down 3.2%), Cardano at $0.6440 (down 3.29%), and Chainlink at $17.96 (down 4.95%). Market sentiment is cautious, with analysts noting that macroeconomic uncertainties could lead to further testing of lower supports, though underlying fundamentals for major assets remain solid.
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