Sharp Decline in Bitcoin and Ethereum: Losses Exceeding 6% in 24 Hours

BTC fell 6.6% in 24 hours to 68,673 and is trading clearly below its SMA20/SMA50; the short-term trend is downward. RSI at 24.8 is in oversold territory, which increases the likelihood of reaction buying but is not a reversal signal on its own. MACD is below the signal line and in negative territory, momentum remains weak. The news headline confirms the current decline; panic selling may continue or short-term bottom buying may be seen. Therefore, for 1-3 days I expect a slightly downward-biased but volatile outlook.

ETH fell 5.66% in 24 hours, retreating to the $1,931.89 level and trading below its 20‑day simple moving average (SMA20) of $1,987 and its 50‑day SMA (SMA50) of $2,029. The short‑term trend is clearly bearish. The 14‑period RSI sits at 27, approaching the oversold zone, which raises the probability of a corrective buying rally, though it is not a standalone reversal signal. The MACD is negative and below the signal line, confirming that momentum remains weak. The headline reinforces the existing downtrend; panic selling could test the support near $1,900 in the short term. With the asset in an oversold state, a 1‑ to 3‑day volatile range and limited corrective buying are expected, so the bias stays bearish but confidence is moderate.

As COIN is a stock highly correlated with cryptocurrencies, a decline exceeding 6% in BTC and ETH could increase selling pressure in the short term. The technical picture is already weak: the price is below the SMA20 and SMA50, MACD is negative and below the signal line, and RSI at 39 indicates weakness. The 24-hour decline of 4.3% confirms that momentum is downward. However, since RSI is close to oversold territory, rebound buying may be seen; therefore, although the direction is down, I keep confidence moderate. In the 1-3 day horizon, if support around $130 is broken, the decline could accelerate.