Crypto Market Update Today: BTC and ETH Slide Below Key Levels—Is More Downside Ahead?

The crypto market

Right now, the 60-day USDT market cap change has dropped to around –$3.1 billion, a level previously seen near local market bottoms in early 2023. The question mark highlights uncertainty: will this liquidity drain mark another short-term bottom or signal deeper weakness? If stablecoin inflows don’t recover soon, Bitcoin may face continued pressure before any sustainable rebound.

The Bottom Line: What to Expect Next?

The sell-off was ignited by a violent unwinding of leveraged Bitcoin positions, compounded by the Ethereum ecosystem plunging nearly 20%, significantly underperforming the broader market. The immediate path depends on Bitcoin price holding $65,000 and the total crypto market cap staying above its critical yearly low of $2.17 trillion. The next key macro catalyst is the release of daily ETF flow data, which will highlight the institutional interest.

Therefore, the next few days until the end of the monthly trade can be considered as an important phase to determine the next course of action of the crypto markets & BTC price.

Trust with CoinPedia:

CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:

All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.