- Main event is crypto market correction impacting major cryptocurrencies.
- Bitcoin falls below $105,000, raising caution.
- Ethereum risks deeper correction near $2,438 support.
Bitcoin, Ethereum, XRP, and Dogecoin experienced a significant market correction on May 19, 2025, leading to notable declines across the cryptocurrency sector.
The market correction impacts investor sentiment, leading to cautious trading behavior amid weakened crypto utility perception.
Bitcoin
Bitcoin saw a retreat from its recent high, trading around $104,624, suggesting a potential market correction formation. Ethereum dropped 4%, nearing its critical 200-day EMA support of approximately $2,438, raising concerns among analysts.
“The crypto markets experienced a bullish weekly close, but the bears appear to have capitulated since the beginning of the new week,” CoinDCX Research Team, Analyst, CoinDCX.
XRP
XRP maintained its stance at the 50-day EMA of $2.27, despite reducing momentum indicators. Analysts suggest XRP’s reaction compared to Bitcoin may imply “weak hands” or a decline in buying conviction for Bitcoin.
The correction has broad effects; Bitcoin’s slip affected market capitalization, while several altcoins, including Litecoin and Maker, also faced declines. Dogecoin managed resilience above $0.20, amid this downturn.
The current market conditions indicate a phase of consolidation with dwindling bullish forces. Ethereum could see challenges below its 200-day EMA, potentially leading to further price adjustments.
Bitcoin’s decline may signal a broader market impact, with experts observing a potential bear market emergence. Historical trends suggest caution until Bitcoin reclaims its recent high, stabilizing sentiment.
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