The cryptocurrency market is currently facing a significant downturn, with major assets like Bitcoin (BTC), Ethereum (ETH), and Shiba Inu (SHIB) experiencing substantial selling pressure and price declines. Bitcoin is struggling to maintain its position above the critical $100,000 threshold, while Ethereum has breached a key long-term support level, signaling a broader bearish phase. Shiba Inu, reflecting the wider market sentiment, is in a deep sell-off, prompting grave concerns about its near-term prospects.

Shiba Inu has entered a substantial sell-off phase, with approximately 1,000,000,000 SHIB being sold on exchanges in the last 24 hours. This enormous selling volume has caused its price to drop significantly, breaking through crucial support levels and falling below the $0.000010 mark, pushing it closer to the $0.000009 threshold. The current bearish trend is amplified by an abrupt increase in selling activity and a notable increase in volume, often a sign of capitulation, which has destroyed any minimal bullish momentum the coin previously held. The Relative Strength Index (RSI) is currently at 34.47, indicating that the asset is approaching oversold conditions.

Adding to SHIB's woes, a 'death cross' formation is anticipated, where the 50-day moving average crosses below the 200-day moving average, a technical pattern frequently associated with protracted bear markets and suggesting a downward path of least resistance. The $0.000009 level is now critical, as a breakdown below it could trigger further losses. Investors are advised to prepare for potential prolonged downside action due to the absence of clear support until much lower prices. The token has also broken below its short-term ascending trendline following repeated failures to regain resistance near $0.0000105, indicating fresh selling pressure from both retail and institutional segments. The combination of technical and behavioral data points to a targeted distribution, where large holders progressively sell into thin liquidity zones.

The 50-day, 100-day, and 200-day major moving averages are all currently stacked above SHIB's price, confirming a fully developed bearish trend. The 200-day MA, in particular, has acted as a ceiling since early August, with all attempts to reclaim it met with harsh rejections. Volume analysis further reveals that every small rally has been met with higher selling volume, suggesting that larger entities are exploiting brief upticks to offload positions. With weak retail inflows and an RSI near 33, this setup implies persistent weakness. If selling continues at its current pace, SHIB may drop towards the psychological support at $0.0000080, and potentially even return to the $0.0000070 range if market sentiment fails to stabilize.

Ethereum is also taking a substantial hit, following Bitcoin's trajectory. Its 200-day exponential moving average (EMA), which had served as a robust barrier since February, has now officially been breached. This breach signifies a critical structural breakdown, effectively eliminating the prospect of a near-term price reversal and marking a shift towards a more generalized bearish phase rather than merely a short-term correction. After weeks of consolidation around the $3,700-$3,800 range, ETH has sharply dropped to approximately $3,518, breaking through the 200 EMA for the first time in almost nine months.

Historically, Ethereum's ability to remain above this crucial moving average has served as a launchpad for significant rallies. Its current loss suggests that persistent distribution has supplanted bullish strength, thereby weakening the market's underlying momentum. Growing selling volume coincides with this breakdown, pointing towards trader capitulation rather than brief volatility. Shorter-term moving averages, including the 50-day and 100-day, are sloping downwards and are significantly above current price levels, establishing additional layers of overhead resistance. This crossover dynamic solidifies ETH's transition from an accumulation phase to a possible long-term decline. Technically, Ethereum's next significant support is around $3,400, followed by a more critical region at $3,200.

The Relative Strength Index (RSI) for Ethereum hovers around 34, indicating growing oversold pressure; however, in bearish markets, this condition typically precedes further declines rather than an immediate recovery. If the 200 EMA is not quickly reclaimed, ETH might be on the cusp of a lengthy correction phase that could extend well into 2026, implying that Ethereum has both literally and figuratively lost significant ground.

Bitcoin is currently trading near $104,000, testing what could be its last area of short-term structural support after breaking below its 200-day moving average at $108,000. Investors are closely watching to see if Bitcoin can sustain this level or if a more significant decline is inevitable, with fears of losing the $100,000 threshold sooner than anticipated. Over the last two weeks, Bitcoin's technical structure has declined substantially. A string of lower highs since September has established a distinct downtrend, and the recent breakdown validates a shift in market sentiment from optimism to caution. The 200-day moving average, a historical indicator of long-term trend strength, has now transformed into resistance.

As long as Bitcoin remains below this threshold, the path of least resistance continues to be downward. The Relative Strength Index (RSI) is around 35, indicating near-oversold conditions. However, oversold status does not always guarantee a reversal, especially when the overall market structure is increasingly pessimistic. If Bitcoin fails to hold $100,000, the next significant support level lies between $97,000 and $98,000, corresponding to a consolidation zone from late spring. While this level might spark short-term buying interest, a long-term recovery would necessitate a clear reclamation of the $108,000-$110,000 range, which appears unlikely without a powerful catalyst.

Macroeconomically, speculative assets are being severely impacted by tightening liquidity and declining risk appetite. While short-term leverage and derivatives positioning continue to amplify downside volatility, long-term holders have remained relatively stable. If Bitcoin manages to hold $100,000, it might attempt a gradual grind back toward resistance after a period of consolidation. However, the prevailing market indicators across Bitcoin, Ethereum, and Shiba Inu suggest a challenging period ahead, advising investors to exercise extreme caution and prepare for potentially deeper price declines until substantial buying volume re-enters the market.