Bitcoin and Ether Bounce From a Second Liquidation Wave. Is the Correction Over?

TL;DR: Bitcoin and Ether have defended nearly identical support twice in less than a week—Bitcoin near 80,365–80,953 and Ether near 2,407—but neither has cleared the resistance needed to confirm its correction is over, leaving Wednesday’s US CPI and upcoming ETF flows as the key tests of whether spot demand can sustain the rebound.

Why This Matters

Bitcoin and Ether have rebounded sharply from a second wave of leveraged selling in less than a week, with both cryptocurrencies defending nearly identical support areas despite renewed volatility. Bitcoin recovered from an overnight low of 80,953 to around 83,281, while Ether bounced from 2,407 to around 2,515. The repeated recoveries suggest that forced liquidations have amplified the recent selloff without triggering a sustained breakdown in prices.

However, holding support is not the same as confirming a bottom. Neither cryptocurrency has overcome the resistance needed to signal that its correction has ended. For now, the declines from Bitcoin’s 87,354 and Ether’s 2,806 highs are still viewed as corrections to their preceding five-wave advances, rather than confirmed larger bearish reversals. The immediate question is whether spot demand can sustain the recoveries once leveraged selling subsides.