The cryptocurrency market is experiencing a noticeable correction today, largely driven by investors cashing in profits after a recent strong rally. That upward movement had been supported by favorable U.S. inflation data, impressive earnings reports from Chinese tech companies, and renewed hope for progress in U.S.-China trade negotiations. However, sentiment has shifted toward caution, with traders bracing for the release of the Producer Price Index (PPI) and the upcoming $3.1 billion options expiry — both key events that often trigger market volatility.

As of the latest update, the global crypto market capitalization has decreased by 2.24%, now sitting at $3.29 trillion. Meanwhile, overall trading activity has slowed, with 24-hour volume down 22.55% to $118.77 billion. This pullback is affecting top cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and XRP.

Bitcoin (BTC) Market Overview:

At the time of writing, Bitcoin is priced at $102,3098.18, reflecting a 1.65% decline over the last 24 hours.

Its market capitalization is now around $2.03 trillion, with a daily trading volume of $44.85 billion, down 11.28%.

BTC briefly dropped to a low of $101,540.87 today, before rebounding to a high of $104,303.57. Looking at price levels, Bitcoin is facing short-term resistance at $105,000. If it manages to break above this, the next significant target could be the psychological barrier at $110,000.

On the downside, support is forming at $101,000. A fall below this level could send BTC closer to the $100,000 mark — a key zone that could trigger further selling if breached.

Ethereum (ETH) Market Overview:

Ethereum has pulled back by 2.44% and is currently trading around $2,556.63. Its intraday trading volume has plunged by 38.89%, now sitting at $23.47 billion, and the market cap stands at $308.88 billion. ETH found short-term support at $2,517.25 while facing selling pressure near $2,645.07. Despite the price dip,

ETH's RSI still indicates overbought conditions — a sign that some upward momentum may remain, although a cooldown is likely.

If Ethereum manages to bounce from the 200-day EMA near $2,431, it could aim to retest resistance at $2,645, and potentially revisit the $3,000 zone. On the flip side, a daily close below the 200-day EMA might trigger a deeper correction, possibly dragging ETH down toward $2,000 support.

XRP Market Overview: XRP is currently priced at $2.47, showing a 5.72% loss in the past 24 hours. Both its market cap and trading volume reflect increased selling pressure. In the same period, XRP hit a low of $2.45 and was capped at a high of $2.62.

From a technical perspective, XRP is facing immediate resistance at $2.50. A successful breakout above this could open the door to a test of the $3 psychological level. However, if bearish momentum persists, the coin could decline to the 50-day EMA near $2.20, which currently serves as a crucial support zone.

Frequently Asked Questions: Why is Bitcoin falling today?

Bitcoin’s price is slipping due to profit-taking after a strong upward move. Low liquidity and cautious market sentiment ahead of a major options expiry are also contributing to the decline.

What is causing Ethereum’s drop?

Ethereum is correcting after a prolonged rally. The Relative Strength Index (RSI) shows overbought conditions, and trading volume is shrinking, prompting investors to secure profits.

Can XRP return to $3?

If XRP maintains bullish momentum and breaks above the $2.50 resistance level, a push toward $3 is possible. However, if it fails to hold above $2.20 support, a pullback could delay this move.

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