Bitcoin, Ethereum, and Solana move in sync—Here’s why it matters
The post Bitcoin, Ethereum, and Solana move in sync—Here’s why it matters appeared on BitcoinEthereumNews.com.
BTC, ETH, and SOL have followed nearly identical price patterns, suggesting macroeconomic factors are driving the market. Key support and resistance levels indicated that a breakout or deeper correction could shape the next major move. Bitcoin [BTC], Ethereum [ETH], and Solana [SOL] have exhibited a strong price correlation over the past two weeks, moving almost in unison. This pattern raises key questions about whether macroeconomic factors, investor sentiment, or structural market trends are driving this alignment. A closer look at their price action reveals how much each asset has declined and what this correlation means for traders moving forward. BTC, ETH, and SOL show a strong correlation Recent market data highlights that BTC, ETH, and SOL have been moving in close sync, with each asset experiencing similar peaks and troughs. The correlation chart illustrated how their prices have mirrored each other, suggesting that broader market forces are influencing all three assets equally. Source: X This alignment can often be attributed to market-wide sentiment shifts, liquidity trends, and institutional trading strategies that impact multiple major assets simultaneously. Bitcoin price analysis: Struggling to hold support? Bitcoin has seen a sharp decline in recent weeks, with BTC trading at $88,007, at press time. Also, the analysis showed a 9.3% drop in price from two weeks ago. Source: TradingView The 50-day Moving Average (MA) was at $92,749, acting as resistance. If BTC fails to reclaim this level, further downside pressure could push the price toward the $84,000 support zone. Ethereum price analysis: A steeper fall Ethereum has also suffered significant losses, with its price at $2,171, at the time of writing. The Price Range tool showed an 18.55% decline from previous levels. Source: TradingView ETH remains below its 50-day MA of $2,523, which is now acting as a major resistance level. A further decline…
Filed under: News - @ March 7, 2025 8:28 pm