Bitcoin and Ethereum drop below key support levels; crypto market cap slips under $3.8 trillion

Bitcoin and Ethereum have fallen below their key support levels, dragging the overall crypto market capitalization below $3.8 trillion. At present, Bitcoin is trading around $109,000, while Ethereum hovers near $3,930.

As of 9:46 am IST, Bitcoin was down by 2.26% in the past 24 hours. Ethereum was down by 2.45% at $3,930. Other major tokens—including BNB, XRP, Dogecoin, Solana, Cardano, Tron, and Hyperliquid were down upto 4%. Overall, the crypto market capitalisation went down by 2.33% to $3.69 trillion, according to CoinMarketCap.

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CoinDCX Research Team said that, “Bitcoin slips below the pivotal support at $110,000, dragging the markets lower and sentiments into fear. Popular cryptos like Ethereum, BNB, and XRP plunged below their respective support at $4000, $1200, and $2.5. Meanwhile, Solana trades below $190, Dogecoin below $0.19, and Cardano around $0.65.”

The crypto market cap has plunged below $3.8 trillion, while the volume has recovered slightly and gold becomes the first asset to reach a $30 trillion market cap after it smashes a new ATH of over $4300 in early trading hours, the CoinDCX Research Team further added.

In the past one week, Bitcoin has edged down by 10.08% whereas Ethereum has gone down by 9.78%. Altcoins such as Hyperliquid, XRP, Solana, Dogecoin and Cardano have gone down upto 24% in the past one week.

Sathvik Vishwanath, Co-Founder & CEO at Unocoin believes that BTC is currently trading around $109,050, showing recent weakness after a sharp drop from highs above $115,000 and despite the dip, buyers have defended support near $104,000, indicating potential accumulation.

“The market remains volatile, with price consolidating in a wide range amid macroeconomic uncertainty. Resistance near $115,000 must break for bullish momentum to resume. However, failure to hold above $104,000 could open downside toward $100,000. Traders are watching closely as BTC navigates between key levels. With investor sentiment mixed and external risks in play, Bitcoin's next move could define its short-term trend within this uncertain yet pivotal phase,” Vishwanath added.

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Market perspective

Edul Patel, CEO of Mudrex

Bitcoin is showing early signs of recovery, trading near $109,000 after testing support at $107,500. Interestingly, gold’s ongoing rally could act as a positive trigger for Bitcoin. Historically, when gold’s momentum peaks (as seen in August 2020, September 2024, and April 2025) Bitcoin has followed with strong rallies. If this trend continues, a post-gold rotation could push BTC toward new highs. For now, holding above $110,000 remains key to sustaining bullish momentum. On the downside, we could see a move towards the previous low near $104,000.