Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trade in red on Monday after dipping by over 11%, 19% and 13%, respectively, in the previous week. The top three cryptocurrencies have shed 10%, 17%, and 10.5% in the first month of 2026, highlighting persistent downside pressure. BTC is extending its correction, slipping below $75,000 after posting double-digit weekly losses, while Ethereum trades at $2,270 after hitting a seven-month low. XRP remains under pressure near $1.59, extending its bearish streak with multiple consecutive red weekly candles.
BTC bears aiming for the $70,000 mark
Bitcoin price closed below the lower boundary of the horizontal channel pattern at $85,569 on Thursday and corrected by over 9% through Sunday. At the time of writing on Monday, BTC is trading at $74,800.
If BTC continues its correction, it could extend the decline toward the key psychological level at $70,000.
The Relative Strength Index (RSI) on the daily chart reads 20, an extreme oversold condition, indicating strong bearish momentum. The Moving Average Convergence Divergence (MACD) also showed a bearish crossover on January 20, which remains intact with rising red histogram bars below the neutral level, further supporting the negative outlook.
On the other hand, if BTC recovers, it could extend the advance toward the key psychological level at $80,000.
Ethereum targeting lows not seen since the end of June
Ethereum price closed below the 61.8% Fibonacci retracement level at $2,749 on Friday and declined by over 16% in the next two days. As of Monday, ETH is trading below $2,259.
If ETH continues its downward trend, it could extend the decline toward the June 22 low of $2,111.
Like Bitcoin, Ethereum RSI and MACD indicators on the daily chart are showing strong bearish strength.
However, if ETH recovers, it could extend the advance toward the key psychological level at $2,500.
XRP bears are in control of the momentum
XRP price closed below the daily support at $1.83 on Thursday and declined 12% in the next three days. As of Monday, XRP is trading at $1.57.
If XRP continues its downward momentum, it could extend the weekly support at $1.30.
Like Bitcoin and Ethereum, XRP’s momentum indicators (RSI and MACD) are also projecting a bearish outlook.
Conversely, if XRP recovers, it could extend the advance toward the previously broken daily level at $1.83.