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- Peter Brandt now sees potential Bitcoin downside toward $54,000.
- Ethereum faces risk of further decline if $2,000–$2,200 support fails.
- Macro uncertainty and liquidations are amplifying downside pressure.
Bitcoin and Ethereum extended their selloff on Monday as a broad wave of risk-off sentiment swept across global markets, pushing crypto prices toward key technical support zones. Bitcoin slid roughly 5% to around $75,000, while Ethereum dropped below $2,200, reflecting intensifying pressure from macro uncertainty, heavy liquidations, and weakening institutional flows.
Veteran trader Peter Brandt added to the cautious tone by lowering his downside target for Bitcoin, reinforcing fears that the current downturn may not yet be finished.
Bitcoin Slides Toward Critical Support
Bitcoin fell to an intraday low near $74,500, its weakest level in roughly ten months. Brandt shared a daily chart suggesting that if BTC loses its April support area, the price could first test the mid-$66,000 region before sliding toward a deeper target near $54,000.
Trading activity has thinned alongside the drop. Bitcoin’s 24-hour trading volume fell by more than 10%, hinting at fading risk appetite among short-term traders. Meanwhile, derivatives data from CoinGlass shows a sharp contraction in positioning, with total BTC futures open interest down over 6% in the past day.
Brandt also raised concerns about Bitcoin-heavy equities such as MicroStrategy, questioning how much volatility shareholders will tolerate even if the company’s long-term Bitcoin strategy remains intact.
Macro Headwinds Weigh on Crypto and Risk Assets
The crypto selloff is unfolding alongside weakness in traditional markets. Gold, silver, and the Nasdaq 100 have all declined, signaling a broader move away from risk.
Investor anxiety has increased following news of a partial U.S. government shutdown and the nomination of former Fed governor Kevin Warsh—widely viewed as hawkish—as a potential replacement for Federal Reserve Chair Jerome Powell. Tighter monetary policy expectations typically pressure speculative assets, including cryptocurrencies.
Spot Bitcoin ETFs have also recorded net outflows, suggesting that some institutional investors are reducing exposure rather than buying the dip.
Ethereum Breaks Below $2,200 as Liquidations Surge
Ethereum has been hit even harder than Bitcoin. The second-largest cryptocurrency fell about 7% in 24 hours, with weekly and monthly losses exceeding 20%.coin
Also Read: Tether Loads Up on $122B in Treasuries as Bitcoin Slides — What It Means
Liquidation data shows more than $700 million in leveraged positions wiped out across the market in a single day, with Ethereum accounting for nearly $300 million of that total. Large ETH holders have reportedly added to selling pressure, while Ether ETFs saw roughly $200 million in daily outflows.
Analysts identify the $2,000–$2,200 zone as a make-or-break support area. A failure to hold this range could open the door to a deeper decline toward $1,800—or even the April 2025 lows near $1,400.
Bitcoin and Ethereum are both sitting at technically sensitive levels, with momentum tilted firmly to the downside. While long-term bulls may view the selloff as a potential accumulation opportunity, near-term signals point to continued volatility. Until macro conditions stabilize and selling pressure eases, the risk of further downside for the crypto market remains elevated.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
