According to ME News, on May 18th (UTC+8), based on BitMart's market observations, BTC is currently trading at approximately $76,980, with an intraday high of approximately $78,570 and a low of approximately $76,665; ETH is trading at approximately $2,121.50, with an intraday high of approximately $2,197 and a low of approximately $2,091; and XRP is trading at approximately $1.392, with an intraday high of approximately $1.428 and a low of approximately $1.372. Overall, BTC has fallen from its previous high to the $76,000–$77,000 range today, while ETH and XRP have also declined, indicating significant short-term pressure and a certain degree of correction in the market.
In terms of market rhythm, BTC fluctuated between $76,665 and $78,570 during the day, with a drop of over $1,800, indicating a significant weakening of short-term upward momentum. ETH followed suit, dipping to around $2,120, with a slightly slower short-term correction than BTC. XRP oscillated between $1.37 and $1.43, with highly volatile coins exhibiting greater volatility. Overall, the market shows profit-taking and a wait-and-see attitude at previous highs, leaving the short-term direction unclear.
BitMart X Insight: The core reason for today's short-term market pressure is the combination of profit-taking at high levels and macroeconomic constraints. The US 10-year Treasury yield remains high, and oil prices remain relatively high due to geopolitical tensions, putting pressure on global risk assets. Meanwhile, short-term funds have become cautious after BTC fell to around $76,000, and the subsequent pullbacks in ETH and XRP indicate that no new incremental funds have entered the market. In the short term, the market will likely continue to fluctuate within a range and see high-level turnover, awaiting clearer macroeconomic signals and fund flows.
Investors are advised to pay attention to the support and support levels for BTC in the $76,000–$77,000 range, as well as the correlation between ETH and XRP after pullbacks. This article is for reference only and does not constitute any investment advice. The cryptocurrency market is highly volatile; please make rational decisions and manage your personal risk. (Source: ME)
