$ETH 📣📣 the total cryptocurrency market capitalization has been shrinking, with a notable decrease in the past week.
Bitcoin's Decline: Bitcoin has experienced a significant drop, falling from its recent peak of around $124,000 to approximately $113,000. This decline is attributed to several factors, including Macroeconomic headwinds, such as inflation concerns and new US tariffs.
Ethereum has also seen a decline, dropping from a recent high to around $4,100. It has shown a more significant percentage drop over the last seven days compared to $BTC
. Some analysts point to record short interest in $ETH , which could signal a risk of further liquidation.
Future Outlook: While the market is in a state of unease, some analysts believe that Bitcoin may struggle to fall below the $100,000 mark due to resilient technical support levels. The current price action is described as a consolidation phase, with the potential for volatility to reawaken.