Cryptocurrency Analysis: Bitcoin and Major Altcoin Prices Decline

Bitcoin (BTC) is attempting to rise above the $65,426 level, but buyers are struggling to maintain higher positions. Geopolitical tensions between the US and Iran have negatively impacted market sentiment. According to Andri Fauzan Adziima, an analyst at the Bitrue Research Institute, the decline is linked not only to political news but also to leveraged liquidations and reduced ETF inflows. Cointelegraph.com reports .

All attention is now focused on BTC's yearly low of $60,000. Veteran trader Peter Brandt stated on X that Bitcoin has formed an expanding triangle pattern and could drop to $56,000. However, if the price exceeds $75,000, this bearish forecast will be invalidated.

Although the short-term trend appears negative, buyers are expected to become active in the $60,000–$65,000 range. If the price closes below $60,000, the downtrend may continue, risking a drop to $50,000. Sellers are meeting any minor rallies with selling pressure to maintain dominance.

Bears have also taken control of the Ethereum (ETH) market. The ETH/USDT pair could fall to the strong support level of $1,750. A temporary bounce is expected as the RSI indicator is in oversold territory, but if the $1,750 level is lost, the price could plunge to $1,550.