A fresh wave of volatility has swept across the crypto landscape, rattling confidence as Bitcoin’s value plunged beneath the key $100,000 level. With that critical floor now broken, major altcoins such as Ethereum (ETH), XRP, and Solana (SOL) are also taking a hit. Traders are watching closely to see whether these assets can find their feet or if further dips are just around the corner.
Image 1: (Source: Unsplash)
This abrupt shift came hot on the heels of escalating geopolitical tensions, particularly the United States’ strike on Iran’s nuclear facilities. That move threw a spanner in the works for investor sentiment, which had already been wobbling. As a result, risk appetite quickly drained, sending Bitcoin tumbling and triggering a domino effect through the rest of the market.
Market Sentiment Turns Cautious
Bitcoin’s sharp descent pushed it past its 50-day simple moving average, a key indicator for short-term momentum. With BTC now sitting well below this average, the wind appears to be in the bears’ sails. At the time of writing, Bitcoin is now trading around $99,152, having shed nearly 3% in value over the day.
The psychological support of $100K wasn’t just a number—it had been holding sentiment steady for weeks. Now that it’s broken, there is a probability that it might retreat to the $93,000–$94,000 band that is quite possible before any significant recovery kicks in. This potential downside could serve as a reset point for the market, though nothing is set in stone.
With this shift, broader crypto sentiment has soured.
Altcoins that had shown resilience earlier are now under the pump, with prices dipping beneath their own respective support thresholds. Many traders are keeping their powder dry, reluctant to make big moves while the ground continues to shift.
Nonetheless, long-term optimism hasn’t vanished entirely. Real Vision’s chief executive Raoul Pal maintains that the current downturn bears striking resemblance to patterns seen back in 2017. According to him, the broader market cycle could stretch well into the second quarter of 2026. While short-term nerves remain frayed, long-haul investors are eyeing future gains.
Bitcoin’s Technical Outlook
Breaking below the 50-day average was the first red flag, and now Bitcoin is flirting with another crucial line: the 100-day simple moving average, currently around $95,639. Should the price slip beneath this level, it could signal a deeper trend shift. The breakdown of the ascending trendline—which had previously acted as a springboard for upward movement—adds more weight to the bearish case.
If Bitcoin continues to slide, prices may test the waters near the $93,000 mark. In a worst-case scenario, even the $88,000 range could come into play. On the other hand, a strong move back above the 20-day exponential moving average, currently hovering near $104,000, might reinvigorate buyer confidence. That said, any such recovery would likely run into headwinds as the downtrend line overhead remains a tough nut to crack.
$BTC has broken below the key psychological level of $100K after losing its rising trendline and support zone.
If this breakdown sustains, we could soon see a move toward the next major support around $96K. Momentum clearly favors the bears right now, and buyers need to step in… pic.twitter.com/iQmP9mOMxa
— UniChartz (@UniChartz) June 22, 2025
Investors aren’t simply flying blind—they’re watching these averages closely. Sustained closes below the 100-day line could stoke momentum on the downside. For now, caution rules the roost.
Ethereum and XRP Follow Suit
Ethereum hasn’t been spared from the shake-up. It turned sharply lower after struggling to stay above its 20-day and 50-day moving averages, both of which were positioned around $2,480 late last week. Once ETH breached its $2,323 support level, it fell into a tailspin toward the $2,111 zone.
Bulls are now hanging their hopes on that $2,111 mark holding firm. If it gives way, the next leg down could land around $1,754. Traders tried to reclaim the breakdown level, but sellers stepped in with a heavy hand. Any upward bounce is likely to face stiff resistance near $2,323. Until ETH can crack back above that region—and preferably above the moving averages—it may be stuck trading sideways.
XRP, too, lost ground. It had been floating between $2 and $2.65, but that range broke to the downside. The break below $2 signalled a sharp increase in bearish pressure. If buyers can’t put up a fight soon, XRP could find itself drifting toward $1.61. That level has historically acted as a cushion, but should it fail, the door could swing open toward $1.28.
Attempts to lift the price back above $2 were met with resistance near the 20-day EMA on the short-term charts. That setback pulled XRP deeper into oversold territory, and while that often suggests a rebound could be brewing, the overall momentum remains weak. Traders will be eyeing the 50-day moving average for any sign that the tide might be turning.
Image 2 (Source: Unsplash)
Where Things Stand
The recent market shakeout has tilted short-term sentiment toward the bearish side. Bitcoin breaking through $100,000 and losing trendline support has sent shockwaves through altcoins, many of which have now lost critical ground themselves. While long-term bulls like Raoul Pal see opportunity on the horizon, the near-term picture remains murky.
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Until Bitcoin can reclaim key averages and push back through resistance levels, altcoins may remain stuck in the doldrums. That said, markets rarely move in straight lines, and a short-term relief rally is still on the cards—especially with several indicators flashing oversold signals.
