Crypto Bloodbath Continues: How Low Can Altcoins and Bitcoin Crash?

Crypto traders with the necessary information had made smart decisions to exit the market before August and September bears took over. With the crypto market expected to rise again soon, the crucial question of how far the prices fall continues to linger in most traders.

Moreover, Bitcoin price has not flashed any bullish signal in several time frames. As a result, Bitcoin’s fear and greed index has dropped below 25 percent, denoting extreme fear of further capitulation.

Major Crypto Targets to Watch Ahead

Bitcoin (BTC)

From a technical standpoint, ETH price against the US dollar is currently retesting a crucial support level, which could yield a rebound soon. However, a consistent close below the rising trend established year to date will lead to further weakness in the near term.

Altseason’s Timeline

#Altcoins

The first ever bullish divergence makes me believe this is likely a bottom. pic.twitter.com/icJ33CUhwd

— Mikybull 🐂Crypto (@MikybullCrypto) September 6, 2024

Although Bitcoin dominance has risen for the past two years, rising crypto cash rotation favoring altcoins signals the onset of the much-anticipated altseason ahead.

However, with the positive correlation between altcoins and Bitcoin, there is a high chance that most Alta will continue to bleed with Bitcoin if the bearish sentiment rises.

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