Due to strong rejection of 104K and bearish momentum divergence, I see potential for the further drop.
Author
Petar Jaćimović
FXCentrum
Petar Jaćimović was born on 8 July 1989 in Jagodina, Serbia.
Ethereum has fallen below $1,800 on Wednesday, the first time since May 2025 following accelerated spot selling pressure and distributions from long-term holders.
Ripple and Stellar prices face intense selling pressure, extending losses on Thursday for the fourth consecutive day this week. Cross-border remittance tokens are losing retail sentiment, while XRP faces additional pressure from Exchange-Traded Fund outflows.
Bitcoin dipped further below $65,000 with onchain data from Glassnode signaling a market firmly in a bear phase. The decline has pushed prices back into a key valuation range between the Realized Price and the True Market Mean.
Grayscale announced the launch of its Hyperliquid Staking ETF (HYPG) on Wednesday, now trading on Nasdaq. The fund offers investors direct exposure to HYPE and incorporates staking rewards, which the company claims have historically ranged from 2.2% to 2.3% annually.
![BTC/USD - Strategic sell idea [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Digital Currencies/Bitcoin/Bitcoin_Book.jpg)