Bitcoin and Ethereum Struggle to Maintain Stability as the Cryptocurrency Market Experiences a Turbulent Day

The cryptocurrency market experienced a turbulent day as Bitcoin and Ethereum struggled to maintain stability, while altcoins faced significant declines.

The cryptocurrency market experienced a turbulent day as Bitcoin and Ethereum struggled to maintain stability, while altcoins faced significant declines. The broader market dropped over 4%, highlighting cautious sentiment amid macroeconomic pressures and profit-taking activity.

Bitcoin price dipped as low as $106,900 on leading crypto exchanges while briefly touching $110K earlier today. This current state could be attributed to profit-taking and uncertain reaction on CPI data, which has fueled market caution. Despite the dip, Bitcoin has held above $100,000 for five consecutive weeks, marking its longest streak at this level. Experts suggest that short-term bearish trends persist, with support at $107,200 and resistance at $110,600. At the time of writing, Bitcoin is trading near $107,028–down 2.42% in the past 24 hours. It has recorded a daily trading volume of $52.7 billion—as per CoinMarketCap data. Following the downtrend, Ethereum (ETH) also faced selling pressure, dropping to $2,710 after hitting a high of $2,872 earlier today. Though $240 million in ETF inflows signals sustained institutional interest in Ethereum, despite $107 million in liquidations shaking investor confidence.

Both the leaders have set a bearish sentiment for the altcoin market, with major coins like XRP, Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) showing signs of weakness. The altcoin market has declined up to 5% as most of the alts from top 100 crypto assets see red charts.