The post Why Are BTC, ETH, XRP & DOGE Crashing Today? appeared on BitcoinEthereumNews.com.

On Sunday, the crypto market went from lull to a sudden spike that pushed Bitcoin (BTC) up to $107,114 on Binance. This sudden upswing caused the crypto market capitalization to drop 2.7% to $3.36 trillion. As a result, Ethereum (ETH), Dogecoin (DOGE) and XRP are all down 4.7%, 0.9% and 1.1%, respectively, in the past 24 hours. CoinGlass data shows $651 million worth of positions were liquidated over the past 24 hours as Bitcoin price chopped up and down between $107k and $102k. Why is Bitcoin (BTC) Crashing Today? From a technical perspective, Bitcoin price swept the last week’s high of $105,663 but was met with massive spike in selling pressure from resting asks. This caused BTC to drop 4.23% from the new high of $107,114 to a local bottom of $102,579. As noted in previous articles, BTC could drop down to $100k to $99k, a critical support zone. BTCUSDT 1-hour chart Why Are ETH, XRP, DOGE Prices Down Today? The correlation between altcoins and Bitcoin (BTC) is high, which explains why a drop in the king crypto affects other altcoins as well. Hence, the sudden collapse in BTC price has caused Ethereum’s price to drop 8.76% in the past 13 hours. Likewise, XRP price has shed 5.31% while DOGE price is down 9.11% in the same period. ETH, XRP, DOGE Price chart Although the Bitcoin price prediction remains bullish, investors need to be cautious in trying to catch the falling knife due to BTC’s volatility dropping to a 10-month low. What’s Next for Bitcoin (BTC) Price? Due to the recent drop, Bitcoin price has spawned a bearish engulfing candlestick, undoing Sunday’s 3.23% gain. A sustained spike in selling pressure could see BTC drop down to $101.k, a key support level, coinciding with previous value’s range high. A breakdown of…

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Filed under: News - @ May 19, 2025 5:27 am