Crypto majors are very red following a red Tuesday across markets; BTC -3% at $88,200; ETH -6% at $2,905, SOL -2% at $127; XRP -2% to $1.88. MYX (+11%) and ZRO (+10%) led top movers. Bitcoin and Solana both broke key technical support levels.
The cryptocurrency market suffered a broad selloff on Tuesday, with Bitcoin breaking below key technical support and sliding to $88,200, a 3% decline over 24 hours. Ethereum took an even harder hit, falling 6% to around $2,905.
Heavy selling pressure dominated the crypto market throughout the day. Both Bitcoin and Solana broke below critical technical support levels, triggering stop-loss liquidations from long positions. Solana shed 2% to trade at $127; XRP likewise weakened by 2%, slipping to $1.88. Overall market sentiment leaned cautious, with investors adopting a wait-and-see stance.
Despite the broad downturn, some altcoins delivered strong gains. MYX surged 11% in a single day, while ZRO climbed 10%, emerging as rare bright spots in an otherwise red market. Analysts suggest these moves may be tied to unique use cases or positive news catalysts driving demand for these specific tokens.
From a technical standpoint, both Bitcoin and Solana have lost critical support levels, establishing a short-term bearish bias. The market now watches closely whether they can quickly recover lost ground—if not, further pullbacks may follow. Experts advise staying on the sidelines until direction becomes clearer, urging investors to carefully weigh entry timing.
Loading…