The market price of Bitcoin (BTC) and Ethereum (Ether) is bearish due to several factors:

*Key Reasons:*

- *Massive Liquidations*: Over $20 billion in positions were obliterated, forcing panic selling among long-term holders and increasing selling pressure.
- *Over-Leveraged Traders*: High leverage and mass liquidations across exchanges have contributed to the downturn.
- *Technical Correction*: Analysts attribute the fall to a technically driven correction rather than weakening market fundamentals.
- *Regulatory Concerns*: Uncertainty about future regulations and potential crackdowns is making investors cautious.
- *Global Economic Uncertainty*: Concerns about inflation, interest rates, and economic stability are affecting market sentiment.
- *Profit-Taking*: Short-term holders have increased loss-selling pressure, with approximately 30,300 BTC being deposited to exchanges while underwater in the last day alone.

*Market Sentiment:*

The current market sentiment is cautious, with traders and investors waiting for clearer signs of direction. The Fear and Greed Index indicates a negative market sentiment, with many investors feeling fearful and uncertain about the market's direction ¹ ².

*Support Levels:*

- Bitcoin's key support level is around $100,000, which was briefly breached in mid-June.
- Ethereum's support level is around $3,000, with a breakdown potentially pushing prices to $2,800 or even $2,400 ³ ⁴.