I've noticed a significant decline in the crypto markets today, with Ethereum in particular warranting attention. The question many are asking now is why did Ethereum drop this way? Well, it seems to be part of a broader market correction led by Bitcoin.

Bitcoin tried several times to break above the $70,000 level but failed, leaving the market in a state of uncertainty. Momentum indicators show that buyers are not really in control right now — the Relative Strength Index is near the middle, meaning caution still prevails among traders. And Ethereum? Well, it was trying to stay above $2,000 but couldn't, which reflected on the rest of the market.

What’s interesting is that most major coins are moving together — Bitcoin, Ethereum, and even coins like Solana and Ripple are experiencing the same pressure. This indicates that the current correction isn’t an issue with a specific coin but with the market as a whole. The market is seeking balance after the sharp moves that recently occurred, and traders are waiting for clear signals about the next market direction. The main support levels everyone is watching now are around $60,000 for Bitcoin and $2,000 for Ethereum — if these levels are broken, we may see more intense downward pressure.