Crypto Capitulation: Bitcoin, Ethereum and XRP Crash to Multi-Month Lows as Bears Take Control
The crypto market is under intense pressure as Bitcoin, Ethereum, and XRP plunge to multi-month lows, wiping out gains accumulated since late 2024. A broad risk-off wave has pushed the top three assets into deep corrections, with technical indicators flashing sustained bearish momentum.
Bitcoin Slides Back to $60,000
Bitcoin has fallen more than 15% this week, extending last week’s 11% decline and retesting the $60,000 level for the first time since mid-October 2024. The move confirms a sharp loss of momentum, with sellers firmly in control.
On the daily chart, the RSI near 20 signals extreme oversold conditions, while the MACD remains deeply negative, supported by expanding red histogram bars. If weakness continues, BTC risks sliding toward the $54,800 weekly support. That said, after such a steep drop, the more likely short-term outcome may be consolidation between $60,000 and $70,000, rather than an immediate rebound.
Ethereum Breaks Down Below $1,750
Ethereum has mirrored Bitcoin’s weakness, plunging over 15% this week and falling to $1,747, its lowest level since May 6, 2025. The technical structure remains fragile, and a continuation lower could expose the $1,669 support zone.
Momentum indicators tell the same story as BTC: bearish RSI readings and a firmly negative MACD. Still, historically sharp sell-offs of this magnitude often lead to sideways consolidation, potentially between $1,700 and $2,100.
XRP Underperforms as Selling Accelerates
XRP has been hit hardest, shedding over 20% in a single week and dropping to $1.11, a level not seen since November 2024. If pressure persists, the next psychological target sits at $1.00.
Like its peers, XRP’s RSI and MACD confirm a bearish trend. However, the probability of range-bound consolidation now outweighs the odds of a strong rebound, with a likely near-term range between $1.11 and $1.45.
For now, the market isn’t bouncing it’s digesting the damage.
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