ETH, XRP, SOL, ADA Drop 8–16% in a Week, What Can Crypto Traders Expect Next?

Bitcoin recently fell below $100,000 for the first time since May, reaching $96,600 amid broader market sell-offs. Significant declines were also seen in major cryptocurrencies like Ether, XRP, and Solana, which have reported losses ranging from 8% to 16% over the past week. Market sentiment has weakened significantly with reduced ETF inflows and long-term holders selling off their assets. Technical analysis indicates that Bitcoin has breached a key support level, clearing a liquidity shelf and risking further declines towards $93,000 to $95,000. Analysts warn that if these support levels fail, Bitcoin may test even deeper support near $89,600. The market's volatility is further exacerbated by uncertainty regarding upcoming Federal Open Market Committee (FOMC) discussions, which may influence price movements in the near future. Overall, the cryptocurrency market is showing signs of entering a bear phase, with many traders uncertain about the future direction.

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