- Bitcoin drops toward $90,000, its lowest level in over seven months.
- Ethereum slips below the $3,000 support zone, signaling renewed bearish pressure.
- Analyst Gareth Soloway says both BTC and ETH have now tapped critical support levels.
- A BTC bounce from $88K–$90K could signal recovery; a breakdown may trigger deeper losses.
- ETH needs to reclaim $3,000 to avoid a slide toward $2,750–$2,600.
The crypto market has entered another steep correction, wiping out gains from recent weeks and sending major digital assets back to levels not seen in months. Bitcoin is now hovering near $90,000, while Ethereum has slipped under $3,000 — a threshold it hasn’t breached in more than half a year. The move reflects a sudden shift in sentiment as sellers tighten their grip across derivatives and spot markets.
Bitcoin’s latest drop has caught traders off guard. The world’s largest cryptocurrency slid to roughly $90,662, marking a sharp 5% decline in just 24 hours. At its lowest point, BTC touched $89,673, struggling to reclaim the $96,000 region that recently acted as firm resistance. The day’s wide trading range — between $89,673 and $95,928 — highlights rising volatility and increasingly aggressive sell-offs.
Much of the pressure stems from Bitcoin’s repeated failures to sustain a push above the psychological $100,000 barrier. Each rejection has weakened market confidence, giving sellers more control and pushing momentum to the downside.
Ethereum is also flashing warning signs. After holding above $3,000 for months, ETH finally dipped below the support zone, trading between $2,948 and $3,218 in the past day. The loss of the $3K level is significant: historically, it’s been supported by institutional accumulation, staking demand, and expectations around network growth. Breaking beneath it raises the risk of a deeper correction unless buyers step in quickly.
Market commentator Gareth Soloway has issued a fresh technical alert, noting that both BTC and ETH have now entered major support zones that could dictate the market’s next direction. According to Soloway, the coming sessions may serve as a make-or-break moment for the broader bull trend.
For Bitcoin, the key area to watch is the $88,000–$90,000 range. If BTC manages to bounce with strong volume, it could climb back toward $94,000 and $97,000, reclaiming short-term momentum. But if the level fails, the door opens toward the mid-$80,000 region — a move that would signal a more serious breakdown in structure.
Ethereum faces a similarly pivotal moment. A reclaim of the $3,000 mark would restore some confidence among traders and validate the level as continuing support. But prolonged weakness under the threshold could drag ETH down to $2,750, or even $2,600 if bearish pressure accelerates.
For now, the market is in a fragile state, with traders watching support levels closely. Whether this correction proves to be a healthy reset or the start of a deeper trend reversal will depend on how Bitcoin and Ethereum respond in the days ahead.
