The crypto market is down 3% today, bringing the total market cap to $3 trillion. Bitcoin has dropped to $103,000, down 1.1%. Major altcoins like Ethereum, Solana, and XRP are also down by up to 3%, while memecoins such as Dogecoin, Litecoin, and others continue to slide.
Top analyst Crypto Capo had recently issued a strong warning saying, “We haven’t seen anything yet.” He warns that altcoins are already dropping hard, even though Bitcoin is still above $100K.
He identifies two key support levels for Bitcoin: first at $93,000 and then the main support zone between $60K and $ 70 K. This would be a 35-45% decline from the current prices. In a full-blown capitulation or a Black Swan scenario, the analyst says Ethereum could drop 45-55% and reach the $1000-$1200 range. Altcoins are expected to drop 50-70% on average, while memecoins could be hit the hardest. They could crash by up to 60-80%, as per the analyst.
He expects the real drop to begin once Bitcoin breaks the $100,000 level. That is when bearish momentum could accelerate sharply. He also shared a few examples of coins that are already collapsing before Bitcoin’s drawdown.
Crypto Capo’s charts show memecoins are on the edge of major breakdowns. FARTCOIN is at risk of dropping 61% to the first support zone around $0.38, and possibly 82% drop to $0.17 if it falls further.
RETARDIO is stuck below resistance and showing weakness. Despite several bounces, it’s stuck in a lower range, showing signs of exhaustion. PEPE has triggered a bearish Head and Shoulders pattern, with an expected 70% drop ahead.
CryptoQuant data also shows that altcoins are still deep in a slump. Altcoin Sherpa notes that the top gainers like Fartcoin, SPX, and $HYPE are pulling back the hardest, while the rest of the market is in a slow, steady bleed. He also expects coins like POPCAT to continue drifting lower, with no major liquidations or panic selling so far. Most altcoins look weak, and the analyst sees no strong buy signals at the moment.
However, analyst Michaël van de Poppe says that altcoins have been flat for the past three months, simply retesting lows. He believes that this quiet phase is just the calm before the storm, with the biggest altcoin bull run still ahead.
The crypto market is down due to a 3% overall drop, with Bitcoin at $103,000, and major altcoins and memecoins also sliding. This aligns with a broader bearish sentiment in the market.
Historically, the crypto market has recovered from crashes, though recovery can take months or years. Factors like regulatory clarity, institutional adoption, and technological advancements often drive a rebound.
Investing in crypto after a downturn can offer opportunities for long-term growth, but it remains highly volatile. It’s crucial to research projects, diversify, manage risks, and only invest what you can afford to lose.
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