Myriad Moves: How Low Will Bitcoin and Ethereum Go?

The cryptocurrency market is currently experiencing significant turbulence, driven primarily by macroeconomic uncertainty and profit-taking following recent parabolic moves. Bitcoin (BTC) and Ethereum (ETH), the two largest assets by market capitalization, are facing mounting pressure, prompting investors to question how deep the correction might run.

Bitcoin’s Critical Juncture
Bitcoin’s recent failure to hold the $70,000 mark has shifted sentiment from euphoria to caution. The primary downside drivers include sustained high interest rate expectations from the Federal Reserve and subdued inflow into US Spot ETFs. Technically, BTC is testing key moving averages. Initial support is found at the psychological threshold of **$60,000**. A sustained breach of this level would confirm a deeper corrective phase. The next major structural support zone lies between **$50,000 and $52,000**, which aligns with a critical Fibonacci retracement level of the recent cycle, serving as the maximum probable downside in the absence of a catastrophic black swan event.

Ethereum’s Regulatory Shadow
Ethereum has largely tracked Bitcoin’s volatility but faces additional headwinds related to the pending decision on the US Spot Ethereum ETF. Regulatory ambiguity has tempered ETH’s price action relative to BTC. The immediate and most critical support level for Ethereum is **$3,000**. This level has acted as both strong resistance and support throughout the second quarter. If selling pressure pushes ETH below $3,000, the next significant technical base is situated around **$2,600**. This zone offers strong confluence with the 200-day moving average and previous accumulation zones. A drop below $2,600 would severely damage the long-term bullish structure.

Conclusion
While the long-term outlook for both assets remains structurally positive due to institutional adoption and halving effects, the immediate future suggests continued volatility. Conservative estimates place the near-term floor for Bitcoin between $52,000 and $55,000, while Ethereum’s floor appears to be cemented around the $2,600 mark, provided macroeconomic conditions do not deteriorate sharply. Investors should prepare for continued consolidation and potential further downside before a sustainable rebound can occur.

Source: Myriad Moves: How Low Will Bitcoin and Ethereum Go?