Bitcoin has experienced significant price swings in the past 24 hours, briefly surpassing the $100,000 mark before retracing. The sudden drop reflects the ongoing market uncertainty, with traders reacting to short-term volatility. 

However, long-term stability appears to be taking shape, largely supported by mature investors holding onto their positions.  

Bitcoin has Taken A Different Approach

The RHODL (Realized HODL) ratio since Bitcoin’s recent all-time high (ATH) sits at 23%. While new demand remains significant in this cycle, the wealth held in coins older than three months is much lower than in previous cycles. This suggests that new demand inflows have been occurring in bursts rather than in a sustained pattern.  

Unlike previous market cycles, which typically concluded one year after the first ATH break, the current cycle has taken an atypical trajectory. Bitcoin first reached a new ATH in March 2024, yet demand has yet to match the levels seen in past rallies. This deviation raises questions about how the rest of the cycle will unfold. 

Realized volatility on a three-month rolling window remains below 50% in this cycle. In contrast, past bull runs saw volatility levels exceeding 80% to 100%. This reduction in volatility suggests that Bitcoin’s price action is more structured, with mature investors contributing to a more stable market environment.  

The 2023-25 cycle has followed a stair-stepping pattern, with price rallies followed by consolidation periods. Unlike previous cycles characterized by extreme swings, Bitcoin’s current trajectory exhibits signs of gradual price increases. This trend supports a more controlled bull market, reducing the risk of extreme crashes.  

BTC Price Prediction: Holding Above A Crucial Support

Although Bitcoin’s long-term outlook remains uncertain due to rising short-term volatility, the immediate forecast suggests vulnerability to correction. The cryptocurrency is trading close to key support levels, and further declines could lead to a deeper retracement.  

If Bitcoin loses the $95,869 support level, it may drop toward $93,625. While BTC holders have refrained from significant profit-taking, further losses could trigger a wave of selling. This scenario would put additional pressure on the price, extending Bitcoin’s correction.  

On the other hand, a bounce off $95,869 could enable Bitcoin to reclaim the $100,000 level. Successfully breaching this psychological barrier would invalidate the bearish outlook, potentially setting the stage for a renewed uptrend.

The volatile market led to significant drawdowns for many altcoins this week, as Bitcoin and Ethereum also faced corrections. While a few assets managed to stay in the green, most cryptocurrencies hit multi-week or multi-month lows.  

BeInCrypto analyzed three altcoins that recorded the steepest declines, emerging as the worst performers of the week.

Dogwifhat (WIF)

WIF price plummeted by nearly 38% this week, hitting an 11-month low of $0.704. The steep decline followed the loss of the crucial $0.829 support level earlier this week. This downturn has intensified bearish sentiment, raising concerns about further losses as the altcoin struggles to find stability in the current market.  

The meme coin’s decline was aggravated by reports that it made false claims about a partnership with the Las Vegas Sphere. The drawdown also caused WIF to slip below the psychological $1.000 mark.

Currently holding above $0.674, the meme coin remains vulnerable to further declines. If this support fails, selling pressure could drive WIF below $0.600, with a potential drop to $0.500, further extending losses for investors.  

A possible reversal remains if WIF can bounce off the $0.674 support. A successful recovery could see the token reclaim $0.829 as a support level. If WIF pushes back above $1.000, it would invalidate the bearish outlook, signaling a shift toward a potential recovery.

Virtuals Protocol (VIRTUAL)

VIRTUAL has suffered a significant 40% decline, making it the worst-performing cryptocurrency of the week. The token is currently trading at $1.19 after losing its crucial $1.30 support. This sharp drop has intensified selling pressure, and without a reversal, VIRTUAL could face further downside in the short term.  

The AI agent token has reached a two-month low, with traders closely watching the $1.00 level. Holding above this support is critical, as any further decline could push VIRTUAL toward $0.90.

A drop to this level would extend investor losses and reinforce bearish momentum, delaying any potential recovery.  

However, reclaiming $1.30 as support could shift sentiment in favor of buyers. A breakout above this level would invalidate the bearish outlook and position VIRTUAL for a rally toward $1.99.

This move would erase recent losses and restore confidence in the altcoin’s long-term potential.

Celestia (TIA)

TIA is experiencing a sharp 31% decline this week and is currently trading at $2.88. The altcoin is attempting to hold above the crucial support level of $2.67.

If the downtrend continues, this support will play a key role in determining whether TIA can stabilize or extend its losses in the coming days.  

Although investor selling has not significantly increased, TIA remains vulnerable to profit-taking. If selling pressure rises, the altcoin could slip below the $2.67 support.

A drop to $2.50 or lower would extend losses and reinforce the bearish momentum, making recovery more challenging for the asset in the short term.  

A potential reversal is possible if TIA reclaims $3.28 as a support level. Flipping this barrier could invalidate the bearish outlook and restore buying confidence.

If momentum strengthens, the altcoin could push toward $3.88, marking a significant recovery from recent losses and shifting sentiment back to bullish territory.

Ethereum price has seen a significant downturn, plunging to an eight-week low of $2,600. The sharp decline has resulted in heavy losses for ETH holders. 

However, institutional investors view this as a buying opportunity, capitalizing on lower prices in anticipation of a potential market recovery.  

Ethereum Losses Momentum

Ethereum’s supply in profit has dropped sharply, declining by 32% over the past two months. Previously, 97% of ETH holders were in profit, but this figure has now fallen to just 65%.

The decline has fueled a negative sentiment among traders, with Ethereum underperforming compared to other large-cap cryptocurrencies.  

Fear, uncertainty, and doubt (FUD) have led to retail investors selling their holdings, contributing to further downside pressure. However, market cycles often lead to unexpected reversals. If the broader crypto market stabilizes, ETH could see surprise bounces as long-term investors take advantage of discounted prices.  

Despite Ethereum’s price decline, institutional investors appear to be accumulating the asset. The US spot Ethereum ETF market recorded its highest single-day inflow in two months, with 89,290 ETH worth approximately $236 million entering funds earlier this week.

This suggests that institutional investors see Ethereum’s current price as an attractive entry point.  

Large-scale accumulation at lower levels indicates that long-term investors remain confident in the altcoin. While short-term price movements remain volatile, sustained institutional inflows could provide support for ETH. It could help stabilize Ethereum price in the coming weeks.  

ETH Price Prediction: Reclaiming Support And Recovering

Ethereum’s price has dropped by 20% over the past week, currently trading at $2,608. The cryptocurrency is holding above the critical support level of $2,546 after losing the $2,698 support. This decline has left ETH in a vulnerable position, with investors closely monitoring price action for further signs of movement.  

The current market conditions present mixed signals, making Ethereum susceptible to prolonged consolidation below $3,000. A potential recovery could begin if ETH reclaims the $2,698 support.

Until then, price action may remain range-bound as traders assess the market’s direction.  

However, if Ethereum fails to hold the $2,546 support level, the downtrend could deepen. A further decline could send ETH to $2,344, invalidating the bullish-neutral outlook and extending investor losses.

This would reinforce bearish sentiment, potentially delaying any significant recovery in the near term.