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Bitcoin (CRYPTO: BTC) has rebounded to $103,000, but a deeper correction could cause further downside for Ethereum (CRYPTO: ETH) and XRP (CRYPTO: XRP).
Bitcoin closed below the major EMA's, confirming that short-term momentum has shifted fully to sellers.
If BTC price extends lower toward the psychological $90,000 level, the decline will likely trigger forced liquidations, draining liquidity from the broader cryptocurrency market.
In such scenarios, correlations rise sharply.
During October's tariff-driven sell-off, the BTC-ETH correlation climbed from 0.69 to 0.73, while BTC-XRP moved from 0.75 to 0.77.
When panic sets in, markets trade as a single risk asset, with Bitcoin acting as the anchor that drags others lower.
ETH Price Action (Source: TradingView)
Ethereum has broken below its ascending trendline that had guided the uptrend since May.
The decline forced price under the 20-, 50-, and 100-day EMAs, sending ETH into its $3,600–$3,280 demand zone.
The 200-day EMA near $3,602 now stands as the final line of defense.
If Bitcoin drops to $90,000, that support will likely fail.
The next structural levels sit at $3,280 and the deeper liquidity shelf between $3,000 and $2,850.
Historically, this zone has attracted large-scale accumulation, but in a broad market liquidation, that support becomes vulnerable as capital exits the entire asset class.
Ethereum currently trades near $3,365 after a sharp rejection from the upper trendline.
A daily close below the 200-day EMA would confirm a breakdown toward the $3,000 region.
Bulls must reclaim $3,825–$4,000 to restore upward structure.
XRP Price Action (Source: TradingView)
XRP's chart shows even weaker structure.
The token trades below every major EMA — all of which are sloping downward and compressing into a bearish stack.
Price has been consistently rejected at a descending trendline from the yearly high near $3.80, underscoring continued distribution.
If Bitcoin falls toward $90,000, XRP's thin support between $2.20–$2.05 could give way, exposing the deeper liquidity pocket between $1.90–$1.70.
That range marked the last major accumulation zone during July's rebound.
Without a close above $2.46 and a break through the trendline, XRP remains in a confirmed downtrend.
Two contagion channels drive synchronized selling: liquidity and sentiment.
When Bitcoin falls sharply, leveraged longs unwind, capital exits exchanges, and liquidity across altcoins contracts.
At the same time, sentiment collapses as investors question the asset class itself rather than individual tokens.
During such phases, even strong fundamentals fail to provide insulation.
Ethereum's role in DeFi or Ripple's settlement network utility cannot offset broad withdrawals of capital.
Correlation becomes destiny, and the entire market follows Bitcoin's lead.
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