Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are testing crucial support levels following sharp corrections from recent highs, with traders closely monitoring whether these zones hold or break.
What Happened: Crypto chart analyst Ali Martinez noted that capital inflows have dropped 24% in three weeks, from $86 billion to $66 billion, affecting major assets like Bitcoin and Ethereum.
Bitcoin has retraced from its all-time high of $124,590 to around $113,500, with Martinez pointing out the following scenarios:
- Holding $112,000–$112,800 could spark a rebound to $115,000–$118,000 and potentially retest $124,600.
- Losing $112,000 risks a deeper slide toward $108,250, with on-chain data showing a liquidity gap that could accelerate the drop.
Ethereum has dropped from $4,800 to …