The daily XRP Ledger (XRPL) transactions recently surged to a two-year high, signaling increased network adoption. This comes as experts say that XRP may be less exposed to quantum threats than Bitcoin, which Google recently warned faces the risk of an on-chain attack. Ad Ad XRP Ledger Transactions Climb To A 2-Year High XRPScan data

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Bitcoin price has dipped below the $70,000 level after holding above it for the past two days as markets reacted to the ongoing U.S.–Iran war. Surging oil prices pushed risk sentiment lower across global markets, placing pressure on crypto and equities. As oil surged above $86 per barrel on March 6, Bitcoin retreated after its

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Ethereum’s price action has weakened further over the past 24 hours, with the cryptocurrency falling below $3,000 and shedding about 6.8% in the last 24 hours alone. 

The immediate price action points to reclaiming this $3,000 support, but a longer-term technical view suggests the current decline may be part of a much larger and more defined price framework. A macro analysis shared by crypto analyst Dona examines Ethereum’s behavior over the past two years with a structured range that suggests that the cryptocurrency might bottom at $2,187.

Ethereum’s Two-Year Range Still Defines The Bigger Picture

According to the analysis, Ethereum has largely traded within a broad horizontal range for close to two years, aside from two notable fakeouts: one below resistance in the first half of 2025 and one above resistance in the second half of the year, which led to a new price high of $4,946 in August. On the weekly timeframe, price has repeatedly respected an upper boundary around $4,000 to $4,100, while finding consistent demand near the lower range support just above $2,100.

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This price action has resulted in a structure that resembles an inverse head and shoulders pattern on a macro scale. Instead of signaling immediate upside, however, the formation shows how price has oscillated between these defined trendlines, with mid-range reactions often determining whether Ethereum pushes to resistance or slips back toward support. 

At the time of writing, Ethereum is trading within the mid-range of the two-year range. Based on this context, the recent bearish move can be viewed less as a breakdown and more as a rotation towards the lower trendline within the same long-standing range.

Why $2,187 Stands Out As A Critical Downside Target

The chart accompanying the analysis places particular emphasis on the lower boundary of the range near $2,187. This level has repeatedly acted as a bounce floor during prior downtrends in 2024 and another one in July 2025.

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If Ethereum continues to trade below the mid-range support currently around $3,000, then the price could follow a familiar range rotation path toward this lower boundary. This move will see Ethereum fall to as low as $2,187. 

At the time of writing, Ethereum is trading at $2,928, and is still a 25% decline away from $2,187. Although this would be tragic for bullish traders, such a move would not necessarily invalidate the broader structure. Instead, it will complete another cycle within the range, similar to previous declines that eventually transitioned into a bounce for a rally phase.

One of the more notable aspects of the outlook from Dona is the expectation for subdued activity in the near term. Aside from range-bound trades, taking directional positions may be less attractive as liquidity thins into the end of the year. From this perspective, the next major move is more likely to arrive in January 2026.

Featured image from Freepik, chart from Tradingview.com

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Bitcoin has felt the impact of the ongoing global tariff tensions, with little to no upward momentum. The asset appears to have paused its bull run, dampening investor expectations for a near-term recovery.

Currently trading just above $77,000, BTC has declined nearly 30% from its all-time high, including a 1.6% drop in the last 24 hours. Amid this, a recent insight from CryptoQuant contributor Onchained suggests that Bitcoin is nearing a significant threshold that could determine the asset’s next major direction.

Bitcoin Realized Price Levels in Focus

Onchained’s latest analysis points to the convergence of Bitcoin’s spot price with its 2-Year Realized Price. This metric, derived from on-chain data, calculates the average acquisition cost of coins moved on the blockchain within the past two years.

This price band often serves as a meaningful support level, particularly in transition phases between bear and bull markets. Historically, Bitcoin maintaining price action above the 2-year Realized Price has signaled underlying strength among long-term holders.

Onchained noted that BTC has stayed above this line since October 2023, a sign of sustained investor confidence. If Bitcoin continues to hold this level, it may indicate the establishment of a new value floor, potentially setting the stage for renewed buying pressure.

The analysis adds that a bounce off this support zone could be interpreted as an influx of capital from investors seeing this price level as a strategic accumulation point. However, a breakdown below the 2-year Realized Price could trigger a deeper correction or a longer period of consolidation.

Long Liquidations Amplify Market Volatility

In a separate update, CryptoQuant analyst Darkfost highlighted a significant event that shook the derivatives market. On April 6, the largest Bitcoin long liquidation event of the current bull cycle occurred, wiping out roughly 7,500 BTC in long positions.

The liquidation marked the highest daily volume of forced long position closures since the bull market began. According to Darkfost, this event was largely triggered by rising volatility and uncertainty stemming from US economic policy concerns.

The biggest Bitcoin long liquidation event of this bull cycle

“On April 6, approximately 7,500 Bitcoin in long positions were liquidated, marking the biggest single-day long wipeout of the entire bull run so far.” – By @Darkfost_Coc

Read more https://t.co/eqW2JE8TWD pic.twitter.com/IEthwRDRVz

— CryptoQuant.com (@cryptoquant_com) April 9, 2025

In particular, fears around new tariffs under President Trump’s administration have added pressure on global markets, including crypto. The analyst emphasized that such liquidation events serve as reminders of the risks associated with high-leverage positions during uncertain macroeconomic conditions. Darkfost wrote:

This is a clear reminder that we need to stay cautious during periods of rising volatility like today. This is the time to care and preserve your capital.

Featured image created with DALL-E, Chart from TradingView

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