Crypto Bloodbath: Will Bitcoin and Altcoins Rebound or Face Further Carnage?

After a brutal 30% correction, crypto traders are licking their wounds—but the smart money is already sniffing for bargains.

Key levels to watch: Bitcoin clinging to $50K like a drunk to a lamppost, while Ethereum tests critical support at $3,200. Meme coins? Let’s not talk about those.

The real question: Is this another ’buy the dip’ moment before institutional FOMO kicks in, or just the beginning of a deeper winter? (Spoiler: Wall Street’s ’risk management’ algorithms will panic-buy the second the Fed hints at rate cuts.)

Bitcoin (BTC) Decline

The drop witnessed during the Fed week was spurred by weakening trading volume. Though Trump aims to sign the initial tariff agreement this week, it hasn’t been sufficient to drive prices upwards. Given the Fed’s relief from recent data, a rate cut as soon as June seems unlikely. Investors are anxious, fearing a contrary message might be delivered this Wednesday.

Phoenix shared the chart above and provided insights on Bitcoin$94,204’s recent movement:

“We dropped lower than expected. It’s crucial to maintain the depths of 93 and avoid rolling over again; however, I don’t foresee this happening. We will see what unfolds this week.”

Poppe maintained his Optimism in his latest evaluation, sharing a similar sentiment. Altcoin Sherpa argued that a decline to $92,000 is plausible. In other words, Bitcoin could potentially fall by about two thousand dollars from its current level, creating a new local low.

“Honestly, $92k makes a lot of sense; it wouldn’t be surprising to touch this area short term. The previous CME Gap is significant. I’m still bearish, but given current conditions, I am proceeding much slower and not rushing.”

Altcoins and XRP Insight

Because BTC couldn’t surpass the $98,000 resistance, gains in altcoins have been minimal. Additionally, investors have become increasingly cautious after experiencing numerous false rallies in recent months. Any decline in BTC prices could trigger more pronounced losses in altcoins.

Meanwhile, Kyle recognized XRP Coin as an opportunity, pointing to whale accumulation. He believes a major move might be on the horizon.

“Currently, over 300,000 addresses hold $10,000+ XRP, a sharp jump signaling increased confidence from whales and significant investors. Strategic accumulation seems to be back. Could major players be leading a big move in the XRP ecosystem?”