Prominent market commentators are taking profits on their Bitcoin BTC/USD, Ethereum ETH/USD, Solana SOL/USD and XRP XRP/USD positions, reflecting growing bearish sentiment across the crypto market.
What Happened: Crypto trader DonAlt has issued his first bearish signal on Bitcoin since it traded at $88,000, warning traders to stay cautious as the broader crypto market weakens.
He noted Bitcoin could see more downside unless it reclaims the red resistance zone, which would invalidate the bearish setup and open the door for a "full send" rally.
For Ethereum, DonAlt observed that the asset is sitting near range lows after a fourth retest, increasing the risk of a breakdown below the Oct. 10 wick.
He said ETH looks healthier above $4,000 and turns decisively bullish above $4,200, but for now remains in a fragile position.
DonAlt revealed he has closed his year-long ETH position with a 50% gain, explaining that repeated retests of support made him uncomfortable despite a still-intact setup.
On Solana, DonAlt is bearish between current levels and $210, flipping bullish only if SOL breaks and holds above that resistance. He said the structure has lost its bullish edge, with optimism turning to neutral caution.
He also confirmed exiting his XRP position after a 300% gain, saying he prefers rotating into new opportunities. While XRP's structure remains technically sound, he believes it's slightly more likely to dip in the short term.
Also Read: Bitcoin Crashes 4% To $106,000: Is The Bull Run Over?
Why It Matters: Analyst Michael van de Poppe echoed the cautious tone, describing a major correction across altcoins and urging traders to avoid leverage and focus on safety.
He noted that rising volume during the drop is a healthy sign for market structure.
Ash Crypto remains bullish long term, highlighting that Bitcoin dominance above 60% typically peaks between September and December before triggering altcoin outperformance.
He expects altseason to begin by mid-November, extending into 2025 or early 2026.
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