The value of major cryptocurrencies fell sharply amid a large-scale sale

Prices for major cryptocurrencies continue to fall after a large-scale sell-off in the crypto market. On Wednesday, Bitcoin BTC $75,469.82 Mezo Wrapped BTC -1.87% Market capitalization $0.1 billion VOL. 24 hours $0.76 billion was trading at $ 75,700, after dropping to $ 72,945, the lowest since November 2024. Ethereum ETH $2,348.63 Bridged Ether (StarkGate) -2.86% Market capitalization $44.38 million VOL. 24 hours $0.67 billion stabilized around $ 2,270, while the day before it hit a seven-month low of $ 2,110. Ripple XRP $1.43 XRP -3.39% Market capitalization $87.79 billion VOL. 24 hours $0.13 billion dropped to $ 1.59, showing a steady downward trend.

Bitcoin closed below the important 61.8% Fibonacci retracement level ($ 78,490), which counts from the August 2024 low ($ 49,000) to the record high of October 2025 ($ 126,199). The current RSI indicator shows a value of 25, which indicates a strong oversold condition, and the MACD is forming a stable bearish signal. If the BTC price consolidates below the $ 73,072 support, it may fall further to $ 70,000.

Ethereum is following a similar scenario. Last Friday, it fell below the Fibonacci level of $ 2,749 and dropped by more than 17% to $ 2,110. On Wednesday, ETH was trading around $ 2,270. The RSI and MACD technical indicators remain negative, and if the downward movement continues, the price could reach the psychological mark of $ 2,000.

Ripple has consolidated below the daily support of $ 1.83 and is gradually approaching the lower boundary of the downward wedge around $ 1.44. If this level is broken, the decline may continue to the next support at $ 1.30. Technical indicators for XRP also indicate that pressure from sellers remains.

Despite the strong decline, in the event of a market reversal, Bitcoin could test $ 78,490, Ethereum could reach $ 2,500, and Ripple could reach $ 1.83. However, in the near future, bearish investor sentiment will remain key, exacerbated by macroeconomic factors and weak technical prospects.