{"id":129431,"date":"2026-01-23T13:00:17","date_gmt":"2026-01-23T13:00:17","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=129431"},"modified":"2026-01-23T13:00:17","modified_gmt":"2026-01-23T13:00:17","slug":"heres-why-the-bitcoin-ethereum-and-solana-prices-are-still-crashing-hard","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=129431","title":{"rendered":"Here\u2019s Why The Bitcoin, Ethereum, And Solana Prices Are Still Crashing Hard"},"content":{"rendered":"

Crypto researcher Axel has provided insights into why the Bitcoin, Ethereum, and Solana prices<\/a> are still crashing. This comes as BTC continues to see a supply overhang, which threatens to put more downward pressure on crypto prices.\u00a0<\/p>\n

Why The Bitcoin, Ethereum, and Solana Prices Are Still Crashing<\/h2>\n

In a research report<\/a>, Axel noted that anomalous exchange inflows accompanied the BTC breakdown below the $90,000 zone as sellers prepared in advance. The market is also still at risk of further selling pressure as the 1.0 level of the short-term holders\u2019 SOPR<\/a> is now acting as a resistance rather than support. As such, there is a possibility that Bitcoin, Ethereum, and Solana prices will decline further.\u00a0<\/p>\n

Further commenting on Bitcoin netflows into exchanges, Axel noted that between January 20 and 21, almost 17,000 BTC flowed into exchanges<\/a>, coinciding with BTC dropping to as low as $87,000, while Ethereum and Solana prices also dropped. The crypto researcher explained that these anomalously high values followed a period of predominantly negative netflow in the first half of this month.\u00a0<\/p>\n

In the context of the falling Bitcoin price, Axel stated that such a spike is more likely to reflect supply preparation than neutral transfers. In other words, the breakdown below $90,000 appears to be structural rather than emotional. Meanwhile, Bitcoin netflow<\/a> returned to neutral levels yesterday, but the accumulated inflow still creates a supply overhang, which could lead to further declines in the prices of Bitcoin, Ethereum, and Solana.\u00a0<\/p>\n

Axel noted that a signal of improvement would be if netflow turns negative again amid rising prices, which could indicate that the overhang has cleared. However, with the short-term holders\u2019 7-day SMA SOPR below 0.996, the crypto researcher suggested that BTC faces increased selling pressure on every recovery as these holders look to sell at breakeven. He added that a reversal trigger could be confirmed if the SOPR breaks above 1.0 from below, with the 7-day SMA holding unity for three to five days to filter out false spikes after the selloff.\u00a0<\/p>\n

Why A Break Above $100,000 Looks Unlikely For Now<\/h2>\n

In its latest research report<\/a>, on-chain analytics platform Glassnode explained that a Bitcoin rally above $100,000<\/a> looks unlikely for now as the supply overhang persists. They noted how this overhang supply above $98,000 remains the dominant sell-side force capping short to mid-term rebounds.\u00a0<\/p>\n

Alluding to the Unspent Realized Price Distribution metric, Glassnode noted that the recent BTC rally<\/a> has partially filled the prior air gap between $93,000 and $98,000, driven by redistribution from top buyers into newer market participants.\u00a0<\/p>\n

However, the unresolved supply overhang is expected to likely cap attempts above the $98,400 short-term holders\u2019 cost basis and the $100,000 level. A meaningful and sustained acceleration in demand momentum is said to be required for a clean breakout above $100,000 to occur.<\/p>","protected":false},"excerpt":{"rendered":"

Crypto researcher Axel has provided insights into why the Bitcoin, Ethereum, and Solana prices are still crashing. This comes as BTC continues to see a supply overhang, which threatens to put more downward pressure on crypto prices.\u00a0 Why The Bitcoin, Ethereum, and Solana Prices Are Still Crashing In a research report, Axel noted that anomalous […]<\/p>\n","protected":false},"author":0,"featured_media":129432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-129431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/129431"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129431"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/129431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/129432"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}