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trades around $87,000 after losing its Bull Market Support Band, a technical level that has supported price action throughout the current cycle. The breakdown has created a $20,000 gap between current price and the support structure that previously contained corrections.

The crypto market is facing one of its worst days in months after a violent sell-off erased billions from total market value. Bitcoin, Ethereum, and major altcoins plunged sharply as panic selling, massive ETF outflows, and weakening support levels triggered a chain reaction across global markets.

Data analysis provider CryptoQuant said Bitcoin’s bull market remains intact despite slower price action in recent weeks. In its latest signals shared on X, analysts pointed to metrics showing Bitcoin in equilibrium but with growth potential toward $130,000.

The global crypto market has fallen by 2.63% in the past 24 hours, with the total market cap now at $3.95 trillion. Bitcoin dropped 2.81% to around $118,500, while Ethereum slipped 0.69% to $4,278. Other altcoins also saw declines, with XRP down 4.46%, BNB losing 1.94%, and Solana falling 5.94%.

Top analyst Michaël van de Poppe says the altcoin market is set for a breakout as undervaluation gaps widen across Ethereum, Chainlink, and DeFi blue chips.

The altcoin market is showing early signs of strength, with Chainlink and Cardano emerging as key projects to watch. While not final bull market targets, both assets are flashing bullish signals as market conditions improve.