Cryptocurrency Market Loses Steam as Bitcoin, Ethereum Prices Dip

The global cryptocurrency market has experienced a decline in recent days, with its capitalization falling to $2.75 trillion, down 1.2% over the past 24 hours.

Bitcoin's price has slipped to $78,218.90, while Ethereum eased to $2,470.18 and XRP dropped to $1.39.

The analysis suggests that Bitcoin is currently stuck in a resistance zone between $80,000 and $82,000, with support holding between $73,000 and $75,000.

A bearish divergence has emerged after Bitcoin's recent short squeeze, indicating further consolidation or a mild pullback rather than a sharp reversal.

Ethereum faces resistance around $2,520 to $2,530, but the analyst notes that repeated tests of resistance can weaken it over time, increasing the odds of an eventual breakout.