Crash

Ethereum

bullish

Bitcoin

Amid the global market crash, even the decentralized crypto world faces significant heat. The total crypto market has dropped from $2.26T to a 24-hour low of $2.037T in the last four days.&nbsp;  
Excluding Bitcoin and Ethereum, the altcoin market witnesses a nearly 10% drop in market cap from $637B to $579B in four days. With the global tensions on the rise, will altcoins continue to fall in the coming week? Let’s find out now in Coinpedia’s altcoin analysis.&nbsp;  
<h2 class="wp-block-heading" id="h-top-altcoins-crash-to-crucial-levels">Top Altcoins Crash To Crucial Levels</h2>  
The top cryptocurrencies have witnessed a massive correction in the past seven days. Fueling the correction, the rising tensions between Israel, Iran, Lebanon, and the entire eastern Asia, along with the NATO countries, have led to a global market crash.&nbsp;  
Amid the rising fear of the third world war, Bitcoin has corrected by 5.31% in the past seven days and is trading at $60,919. Further, Ethereum has declined by nearly 10% in the past seven days and is trading at $2,360.&nbsp;  
Coming to the top altcoins, apart from Ethereum and stablecoins like USDT and USDC, Binance, Solano, XRP, Doge, and TON have witnessed a drop of roughly 10% in the past seven days, except TRX, which maintains a growth of 1.22%.&nbsp;  
Surprisingly, Ripple leads the charge of the top losers with an 11.32% drop, followed by TON with a 9.10% drop.  
<h2 class="wp-block-heading" id="h-eth-btc-price-fall-nbsp">ETH/BTC Price Fall&nbsp;</h2>  
As ETH and BTC market value drops, the ETH slash BTC value takes a bearish turn, with a 2.04% drop on Tuesday followed by a 3.13% drop on Wednesday. The ETH/BTC price chart reveals a third consecutive bearish candle with an intraday drop of 0.54%.&nbsp;  
<figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/03170129/Ethereum-Bitcoin-price-analysis-3rd-Oct-1024x511.png" alt="Ethereum-Bitcoin Price Analysis" class="wp-image-359510">
</figure>  
<a href="https://www.tradingview.com/x/Pt0qibVa" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>  
The bearish reversal comes from a local resistance trend line and is testing the crucial support at 0.03850 BTC. However, the daily RSI line shows a bullish divergence, teasing a double-bottom reversal.&nbsp;  
Furthermore, the intraday doji candle teases a morning star for a bull cycle to the overhead line. Hence, with a potential recovery in ETH against BTC, the altcoins are likely to make a comeback.  
<h2 class="wp-block-heading" id="h-will-altcoins-surge-back-this-week">Will Altcoins Surge Back This Week?</h2>  
The broader market sentiment will be a critical driving factor of the altcoin market this week. While the global markets are standing on thin eyes, the crypto market and the market share a similar fate.&nbsp;  
<figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/03170310/BTC-USD-price-analysis-3rd-Oct-1024x510.png" alt="BTC USD Price Analysis 3rd Oct 2024" class="wp-image-359514">
</figure>  
<a href="https://www.tradingview.com/x/74PBCMZl" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>  
A bullish comeback in altcoin will likely happen with a minor recovery in Bitcoin. Supporting this possibility, the BTC price is teasing a morning star pattern in the daily chart with an intraday gain of 0.59%.  
&nbsp;Currently, the BTC price is trading near the $61,000 level after a massive crash. Nevertheless, with the morning star possibility, the altcoin market sentiment is likely to recover this week.  
For insights on long-term ETH's price, read our <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noopener noreferrer nofollow">Ethereum (ETH) Price Prediction!</a>

Altcoins Market Crash: How Low Will Altcoins Drop?

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