Bitcoin and Ether Prices Drop with Weak Support: Crypto Market Analysis Americas

The cryptocurrency market demonstrates significant weakness over the past 24 hours, aligning with bearish post-Fed options pricing and dollar index strength. Bitcoin (BTC) declined 2.6% to $112,700 while Ethereum (ETH) dropped over 6%, according to CoinDesk data. The broader market sentiment reflected in the CoinDesk 20 Index fell nearly 8%, highlighting widespread downward pressure. U.S. crypto equities showed pre-market declines with MicroStrategy (MSTR) and Coinbase (COIN) both losing 2.8%. The sell-off triggered approximately $1.5 billion in leveraged position liquidations. While some analysts view this as a healthy correction that removes excessive leverage, others remain cautious about sustained upward momentum. Recent ETF flow data reveals stronger preference for Bitcoin over Ethereum, with Bitcoin ETFs attracting $3.48 billion compared to Ethereum ETFs' $406.87 million this month. Technical indicators suggest oversold conditions with average RSI at 28.4/100, potentially signaling near-term recovery opportunities if key support levels hold.