Sharp Decline in Crypto Markets: Bitcoin and Ethereum Lose Value

BTC declined 6.78% in 24 hours to 68.6K and is trading notably below its SMA20/SMA50; the short-term trend is downward. RSI14 at 11 is in oversold territory, increasing the likelihood of reaction buying, but is not a reversal signal on its own. MACD is negative and below the signal line, with momentum still weak. The news headline confirms the current decline and contains no new information; therefore, its impact may be limited. Downward pressure may persist for 1-3 days, but short-term bounces are possible due to oversold conditions.

ETH fell over 6% in 24 hours to 1921.8 and is trading well below its SMA20/SMA50, confirming a weak short-term trend. RSI14 at 14.1, in oversold territory, suggests that part of the decline may already be priced in and points to a risk of rebound buying. MACD is negative and below the signal line, indicating momentum remains to the downside. The news headline supports the current downtrend but does not contain new information on its own; therefore, while the bias is predominantly downward, I keep confidence at a moderate level. Due to oversold conditions, choppy price action and short-lived bounces may be seen within 1-3 days.