Major Altcoins Follow Bitcoin's Pullback as Sellers Test Key Support Levels

Bitcoin’s momentum stalled on Thursday as the world’s largest cryptocurrency retreated from its weekly peak near $94,000, settling around $90,300 after touching lows under $90,000. The move triggered a broader market correction, with Ethereum, XRP, and BNB facing downward pressure alongside the leading digital asset.

The Catalyst: Profit-Taking Meets Liquidations

The pullback traced its roots to sellers reclaiming control around the $94,000 level. According to liquidation data, long positions totaling approximately $150 million were unwound over a four-hour window, amplifying the downside momentum. Market observers characterized the selling as classic profit-taking behavior—traders locking in gains accumulated during the week’s earlier rally.

Despite Thursday’s retreat, the broader weekly performance remained constructive. Bitcoin posted a 3.2% weekly gain, while Ethereum climbed 5.1%. Altcoins showed more resilience, with XRP, BNB, Solana, Tron, and Dogecoin recording increases as steep as 20% over the seven-day window.

Current Price Action and Support Zones

Bitcoin’s current position at $90,300 leaves traders watching multiple technical levels closely. Support sits at $87,496, with a secondary floor emerging at $85,982–$86,291 based on retracements tied to October’s corrected rally and December’s bottom. Should bears break below $83,712–$84,000—derived from 2025’s weekly close low and the 38.2% retracement of the 2022 bull run—the risk of a sustained downtrend intensifies, with targets potentially extending toward $78,342–$79,127, levels not visited since April 2025.

On the daily chart, Bitcoin briefly penetrated its October downtrend channel in late December but encountered substantial resistance last Tuesday, signaling sellers remain active at higher price zones.

Ethereum Under Pressure: Institutional Outflows and Exchange Dynamics

Ethereum’s struggle to sustain momentum reflects mounting headwinds from institutional channels. A $98.45 million spot ETF outflow on Wednesday marked a shift in the tone of inflows, while the Coinbase Premium Gap—measuring price differentials between Coinbase and Binance—has turned decidedly negative. The 14-day moving average of this spread reached -2.285, marking the most bearish reading since February of the prior year. This negative premium suggests institutional-grade selling pressure concentrated on U.S. exchanges, creating resistance as Ethereum attempts to reclaim the $3,300 level.

The ethereum price EUR conversion reflects broader European interest in the asset, though regional institutional flows remain less decisive than their U.S. counterparts. Ethereum’s multi-month struggle—peaking near $4,700 during the prior downturn before sliding to $3,200—continues to weigh on sentiment, with the token failing to sustain moves above $3,500 since November 15.

Macro Backdrop: Jobs Data and Geopolitical Crosscurrents

Crypto’s directional bias continues shifting with macroeconomic data. December’s private payroll additions—41,000 according to ADP—fell short of typical seasonal strength, though officials characterized the figure as a modest improvement from November’s revised 29,000 decline. Market participants now assess both labor-market momentum and potential tariff policy shifts for clues on broader risk appetite.

The current environment carries additional complexity from geopolitical developments affecting U.S.-Venezuela relations, introducing fresh variables for traders already navigating multiple cross-currents throughout 2026.

Market-Wide Impact

Twenty-four-hour losses extended across the board: Bitcoin retreated 2.7%, Ethereum slid 4.1%, while XRP, Cardano, and Dogecoin registered declines approaching 4%. The aggregate crypto market contracted 2.9% over the same span, signaling a synchronized move lower rather than isolated weakness in select assets.

The CryptoQuant SOPR Ratio—comparing realized profitability between long-term and short-term holders—dipped below the neutral threshold as Bitcoin corrected from October’s $110,000–$120,000 highs toward current levels. This shift suggests short-term traders are crystallizing losses while longer-duration holders are surrendering profits accumulated between November 2024 and Q4 2025, a dynamic typically preceding deeper consolidation phases.