📉 Today it is clear that the market is not in its best condition, especially Bitcoin, and the same story with ETHEREUM and other cryptocurrencies. Bitcoin dropped by more than 3% from over $106,000 to below $103,000, and is now around $103.7k after a slight rebound. Ethereum also dropped to a value of about $2,400 - $2,300 with clear pressure in the market.

What is behind this decline?

Geopolitical tensions: Discontent in the conflict between the entity and Iran is making investors fear American intervention, which has created a risk-off mood in the market, leading to panic selling with a large amount of BTC and ETH being sold now. Whales have sold hundreds of millions, and some remaining assets are returning to accumulation, but the market is shrinking.

From liquidations, almost half a billion dollars has been wiped out from leveraged credit positions, especially in Bitcoin and Ethereum, which increased the decline and triggered mass selling. Ordinary people are now not confident and have become pessimistic like during the Liberation Day events in April, meaning very low sentiment.

Some technical analyses suggest that this liquidation is cleansing the market, and this could pave the way for a rebound if strong support occurs from levels of $102,000.

The market is in a pressure selling day and is gathering all factors against crypto: global tensions, selling from major investors, and massive liquidation. God help us in the coming days; if a rebound happens, it will be good, but if the pressures continue, we must be cautious and distribute our portfolios wisely.