Reports suggested a warning of possible military action within 48 hours, which created uncertainty across global markets. Within minutes of the news, heavy liquidations in futures trading pushed prices down sharply.

Bitcoin Price Crashing Today

Bitcoin fell from around $71,000 to nearly $68,000, breaking below the $69,000–$69,500 range. This level is now expected to act as resistance.

The earlier rejection near $71,000–$72,000 played a key role in the move, as the price dropped toward the $68,000 area where selling pressure had been building. With that zone now cleared, one immediate downside trigger has eased. The next support lies around $65,500–$66,000, while broader resistance remains between $72,000 and $76,000.

Despite the drop, there are early signs that price could steady in the next 12 to 24 hours, with a chance of a small bounce or sideways movement, though upside remains limited.

Ethereum and XRP Price Drop

Ethereum followed Bitcoin’s move and showed similar weakness. It dropped after failing to hold above the $2,150–$2,200 range, which has now turned into resistance again. The major resistance for Ethereum remains between $2,200 and $2,400. While it is nearing levels where a short-term bounce is possible, overall momentum remains weak.

XRP price also moved lower after repeated rejections near $1.45–$1.47. It has now fallen back toward $1.37, where it recently found short-term support. If prices fall further, the next support range is between $1.30 and $1.35, while resistance remains around $1.42–$1.43. Like Bitcoin and Ethereum, XRP is also nearing levels that could bring a brief pause in selling.

Short-Term Relief Possible, But Trend Still Weak

There are early signs that the market may slow down, as selling pressure is easing slightly, even though prices are still falling. This could lead to a short bounce or prices moving sideways for a while.

However, the broader trend remains weak. Even though conditions are similar to past moments that led to temporary recoveries, there is no clear sign of a full reversal yet. The next move may also depend on how traditional markets react. If stocks and forex markets continue to fall, crypto could face more pressure.

FAQs

Why is crypto crashing today?
Crypto is crashing due to global uncertainty, rising liquidations, and Bitcoin breaking key support, which is pulling the entire market lower.

Will crypto prices recover after this drop?
A short-term bounce is possible, but the overall trend remains weak, and recovery depends on market stability and global financial conditions.

Are geopolitical tensions impacting the crypto market?
Yes, geopolitical tensions increase uncertainty, trigger risk-off sentiment, and lead to liquidations, which can push crypto prices lower in the short term.
source: https://www.tradingview.com/news/coinpedia:e95d7ed47094b:0-bitcoin-leads-crypto-market-drop-ethereum-and-xrp-price-follow/