Cryptocurrencies have faced a difficult stretch as risk appetite waned after a remarkable mid-2025. Bitcoin had breached the $100,000 level, while Ethereum began a shocking move higher from $2,100 to $4,950, setting new records. The market now questions whether a bottom is forming or further corrections lie ahead.
Bitcoin remains within a large bearish downward channel, making a decisive breakout unlikely in the near term. Two scenarios dominate the near term: a rebound to the $60,000 to $63,000 zone that could form a double bottom, or a slow grind lower that breaks recent lows and heads toward $55,000.
Ethereum is forming a similar consolidation near its recent support, opening the door for two scenarios. A rebound at immediate support ($1,700 to $1,800) would provide a strong hand to the bulls with a potential double bottom, while a progressive drop would head back toward the 2025 lows at around $1,500. Key levels for ETH trading include $1,700 to $1,800, $2,100 to $2,300, and the current all-time highs at $4,950.
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