
The crypto market is under strong selling pressure, and prices continue to fall. Bitcoin is now testing an important support level, while new data from liquidation heat maps shows fresh downside targets. At the same time, Ethereum is close to flashing a short-term signal, and XRP looks weak on higher time frames.
The US stock market has reopened after the weekend and is showing signs of short-term weakness and distribution. Since crypto and stocks are closely linked, this weakness in stocks is also dragging crypto prices lower in the short term.
Bitcoin remains in a broader bearish trend. Indicators still point to a longer correction that could last months, even if short-term bounces happen.
Ethereum is being pulled lower by Bitcoin’s weakness.
XRP looks the weakest of the three on longer time frames.
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