Crypto Pullback: Bitcoin Under $117K, Ethereum Under $3K
Crypto pullback intensified as traders locked in profits, pushing overall market down 5%. Bitcoin dipped nearly 2%, sliding below $117,000 from a $123,100 high. Ethereum fell under $3,000. Earlier in the week, Bitcoin had stabilized around $31,000 (support $30,500; resistance $31,500), and Ethereum hovered near $1,900. Altcoins including Solana, Dogecoin, PEPE, SHIB and XRP saw declines, while Chainlink held above $12 and Theta surged past $1.50 on NFT platform growth. Amid the crypto pullback, mixed technical indicators point to range-bound trading. Traders will watch on-chain data and key support levels to guide their next moves amid ongoing volatility.
Bearish
Short-term, the news is bearish as profit-taking across major cryptocurrencies triggered price declines and tested key support levels. Bitcoin’s drop below $117,000 and Ethereum falling under $3,000 indicate a negative sentiment shift. Mixed technical signals point to range-bound or downward bias, suggesting continued volatility and caution for traders. Over the longer term, drops to critical support zones could present buying opportunities if on-chain data and macro factors align, but immediate market stability is under pressure.