Crypto Meltdown Deepens — Bitcoin, Ethereum, XRP Under Heavy Bear Pressure
After a tough week, the top cryptocurrencies continue to struggle:
Bitcoin (BTC)
Down over 8% this week, trading below $86,000
Closed below the 61.8% Fibonacci retracement at $94,253 (April 7 low $74,508 → Oct 6 ATH $126,299)
Key support at $85,000; a daily close below this level could accelerate the decline toward $80,000
If support holds, a rebound toward $90,000 is possible
Ethereum (ETH)
Down more than 9% this week, trading below $2,791
Fell past key support at $3,017; if the decline continues, the next target is the 61.8% Fibonacci retracement at $2,749
Last week, ETH dropped roughly 14% after being rejected at the broken trendline near $3,592
Fell over 10% this week, now trading below $1.99
Rejected at the 50-day EMA at $2.47 last week; next critical support lies at $1.77
If XRP rebounds, it could test the $2.35 daily barrier
The market remains dominated by negative momentum as Bitcoin, Ethereum, and XRP show signs of further weakness. Traders should watch key support levels closely.
