Bitcoin's Sell-Off Continues, Dragging Down Ethereum and XRP

Bitcoin's recent sell-off has led to losses for other cryptocurrencies, including Ethereum and XRP. The price of Bitcoin is currently at $60,862.54, which falls within its Bollinger Bands, with lower support at $60,219.48 and upper resistance at $65,801.89.

The bearish trend structure remains intact as the price stays below both the EMA50 at $63,382.9 and EMA200 at $67,871.87. The MACD indicator shows a death cross, while the RSI momentum is neutral at 34.17, indicating continued downward pressure.

This bearish structure has led to losses for Ethereum, XRP, and Dogecoin, as well as crypto stocks, according to DecryptMedia. The price of Bitcoin remains below key moving averages, suggesting a potential test of the 50-EMA confluence zone in the future.