Market Overview
- Bitcoin extends decline amid broad risk-off sentiment, fueled by geopolitical tensions after Israel confirmed strikes on Iranian nuclear facilities.
- FARTCOIN, ENA, and LDO plummet over 20%, reflecting heightened market volatility.
- Technical indicators suggest deeper correction risks if Bitcoin loses the $100,000 support level.
As investors rushed to liquidate positions following Israel’s confirmed attacks, Bitcoin (BTC) fell nearly 2% during Friday’s trading session. Major altcoins like Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) dropped ~10% in 24 hours, while XRP (XRP) slid 6%.
High-risk tokens such as Fartcoin (FARTCOIN), Ethena (ENA), and Lido DAO (LDO) faced steeper losses, tumbling 20% as fear gripped the crypto market.
Bitcoin Technical Analysis: Key Support Levels
Current Status
- Trading at **$102,664** after briefly dipping below $103,000.
- Weekly losses near 2% as bearish momentum builds.
Indicators to Watch
- 50-day EMA ($104,458) acts as critical short-term support.
- MACD: Failed bullish crossover hints at prolonged correction.
- RSI: At 45, signaling weakening bullish momentum.
Key Scenarios
- Bearish Breakdown: Daily close below $102,000 may target **$100,372** (30-day low).
- Bullish Rebound: Holding above 50-day EMA could reignite rally toward ATH ($111,980).
👉 Learn how to hedge against crypto volatility
Altcoin Deep Dive
1. Fartcoin (FARTCOIN): Reversal Risks
- Price: $1.09 (-10% daily).
Support Levels:
- Immediate: $1.00 (psychological).
- Secondary: $0.92 (May 7 low).
- Outlook: Break below $1.00 may accelerate declines.
2. Ethena (ENA): Downtrend Intact
- Price: Testing $0.28 support.
- RSI: 41 (nearing oversold).
- Next Target: **$0.25** if $0.28 fails.
3. Lido DAO (LDO): Failed Breakout
- Rejected at $1.00 resistance.
- Support: $0.74 (May 6 low).
👉 Explore staking opportunities with LDO
FAQs
Q1: Why did Bitcoin drop below $103,000?
A: Geopolitical tensions and profit-taking triggered a risk-off sentiment across crypto markets.
Q2: Which altcoins are most affected?
A: High-beta tokens like FARTCOIN, ENA, and LDO fell 20%+ due to leveraged liquidations.
Q3: Is $100,000 a strong Bitcoin support level?
A: Yes, it’s a psychological and technical pivot. A break below may signal deeper correction.
Q4: Should I buy the dip in altcoins?
A: Monitor BTC stability first. Altcoins typically underperform during BTC-led selloffs.
Conclusion
The crypto market faces heightened volatility amid macro uncertainties. Key levels to watch:
- Bitcoin: $100,000 (critical support).
- Altcoins: FARTCOIN ($1.00), ENA ($0.28), LDO ($0.74).
Traders should prioritize risk management and await confirmation of trend reversals before entering positions.
Pro Tip: Use dollar-cost averaging (DCA) during high-volatility periods to mitigate downside risks.