The post Crypto Market Struggles: Bitcoin and Ethereum Face Selling Pressure appeared first on Coinpedia Fintech News
The crypto market is feeling the heat as Bitcoin (BTC) a pioneer cryptocurrency is under increased selling pressure as shifts and due to microeconomic data & shifting sentiment continue to push back the upward momentum. Over the last 24 hours, Bitcoin dropped by nearly 7% after reaching a three-week high. Ethereum followed closely, experiencing a nearly 10% drop.
Bitcoin Faces Strong Selling Pressure
Binance, the largest crypto trading platform by volume, showed a sharp rise in Bitcoin selling. According to Cryptoquant on-chain analyst Darkfost Binance’s hourly Net Taker Volume, a key indicator of market sentiment, turned significantly negative, hitting $325 million, the highest recorded in 2025.
This drop happened after disappointing U.S. economic reports, including weaker-than-expected PMI and job openings data.
These reports made risky assets like Bitcoin less attractive, leading to higher sell-offs. While some fear this could signal a long-term bearish trend, others believe it might just be a short-term reaction.
Ethereum Sees Its First Big Drop of the Year
Meanwhile, Ethereum didn’t escape the pressure, recording its first major price dip in 2025. The price dip comes amid rising expectations that the Federal Reserve might skip an anticipated rate cut in its upcoming January 29 meeting
Even though there’s no panic among Ethereum investors, yet ETH ETF flow into the exchange has seen an outflow of 86 million.
Despite this, some positive signs are emerging, like Coinbase, another leading exchange, has seen buying momentum, likely supported by strong ETF data earlier in the week. If this trend continues, Ethereum could bounce back.
What’s Next for the Crypto Market?
While Bitcoin and Ethereum are under pressure, there’s still hope for a potential recovery if ETF inflows and buying interest rise. For now, experts advise caution, especially with upcoming events like Trump’s inauguration adding uncertainty to the market.
Currently, Bitcoin’s price has dropped by 6.5%, trading at $95,433, showing a 6.5% decrease over the last 24 hours. This has also caused its market cap to fall to $1.89 trillion.
Similarly, Ethereum (ETH) has experienced a decline, with its price now at $3,339, marking a 9% drop in the last 24 hours.