Why did Bitcoin, Ethereum and XRP prices fall today? price prediction

Why did the prices of Bitcoin, Ethereum and Ripple plummet today?

Bitcoin prices fell to US$77,450.87 today, down 3.1% in the past 24 hours. Ethereum and Ripple followed closely. The decline came after Federal Reserve Chairman Kevin Walsh delivered a speech at the 2026 Jackson Hole seminar, and traders were dissatisfied with his tone.

Today's decline in Bitcoin led to the liquidation of long leveraged positions in the cryptocurrency market of more than US$400 million. Long traders suffered the hardest hit.

Why did the cryptocurrency market fall today?

The pattern of Bitcoin price forecasts shifted rapidly this week. Bitcoin had been trying to build support above $80,000, but that attempt failed after Washi's comments broke.

The source of this round of selling can be traced back to Jackson Hole. According to reports, Walsh said that recent PCE and CPI inflation data were better than expected, but he did not make it clear that the underlying inflation trend had substantially improved.

He did not give a specific interest rate path. Instead, Walsh called for a "quieter Fed" that relies less on forward-looking guidance and provides markets with fewer trading signals.

This is different from the approach of his predecessor. Former Chairman Jerome Powell often used interest rate cut expectations to reassure Wall Street. Washi seems intent on taking the opposite strategy.

The market still responded. Traders had previously factored into prices expectations of suspending interest rate hikes at the September meeting. Any statement that suggests that easing policy is not a certainty will often hit risky assets such as cryptocurrencies first.

What is the probability of the Federal Reserve raising interest rates in September 2026?

Interest rate probability data similar to CME shows a clear shift. The probability that the Fed will keep interest rates unchanged at its September 16, 2026 meeting is 43%. The probability of raising interest rates by 25 basis points is currently 57%. The probability of interest rate cuts remains zero.

Scenario probability: interest rate remains unchanged by 43.0%; interest rate increases by 25 basis points by 57.0%; interest rate cuts by 0.0%.

This is a significant shift. The risk of raising interest rates in market pricing is higher than the risk of leaving rates unchanged, which usually weighs on cryptocurrencies because higher interest rates make holding non-yielding assets such as Bitcoin less attractive.

What is the clearing amount in the cryptocurrency market today?

The derivatives market has been hit hard. Data shows that the total clearing amount in the cryptocurrency market reached US$405.7 million within 24 hours. Bitcoin led the way with $152.54 million in liquidations, followed by Ethereum with $94.33 million, Solana was erased with $21.13 million, and Ripple with $13.13 million.

Long positions suffered most of the losses, totaling US$330.68 million, while short positions lost only US$75.03 million. A total of 84,454 traders were liquidated. The single largest clearing order occurred in Binance's ETHUSDT trading pair, valued at US$11.66 million.

Bitcoin Price Forecast: What Does the Chart Show?

Bitcoin 1-hour BTC/USD chart shows a short-term bearish correction. This occurred after Bitcoin failed to hold a breakthrough above $80,000. Prices are currently trading below the 20, 50 and 100 index moving averages. The RSI has dropped to around 32.7, close to oversold territory.

The chart shows a blockage around US$81,000, followed by a series of lower highs, and then sharply fell below the EMA dense area. This is consistent with a fall back from approximately US$81,300 to approximately US$77,800.

Bitcoin's most likely short-term path: from $77,300 down to $76,800 to $76,000; possible rebound from here; retest $77,800 to $78,600. The key observation area is US$76,800 to US$77,000, which coincides with the uptrend line on the hourly chart and the 200 EMA. If the area holds, the rally could target $78,000 first, then $78,500 to $78,700, then $79,500 to $80,000, and $81,000 to $81,300 as extended targets. If the Bitcoin hourly candle closes below $76,800, the trend structure weakens. In this case, US$75,800 to US$75,000 will become the next observation area, which could hit US$74,000 if selling accelerates.

Ripple Price Forecast: Is US$1.35 a Key Level?

Ripple recently exceeded its 200-day exponential moving average (approximately US$1.35), the first successful breakthrough since October 2025. The breakthrough triggered a short squeeze that pushed prices higher to $1.70 last week. Since then, Ripple has fallen back to the US$1.40 to US$1.45 range and is currently trading close to US$1.38.

Analysts view the 200th EMA (approximately US$1.35) as a key watershed. Holding this level is expected to move towards $1.60 or even $1.80. Failure to comply with rules increases the risk of a deep correction.

Some traders look further. One trader who had accurately predicted that the Ripple would rise from US$0.50 to more than US$3.30 said the Ripple may be forming a bullish wedge pattern. If this pattern holds, its measurement target price is close to $15. This is a long-term, high-risk scenario, not a short-term forecast, and depends entirely on whether the pattern can be maintained.

Another long-term Gaussian channel model points to Fibonacc-based price targets of $4.98,$8.59 and $13.89, respectively, over multiple years. These are chart-based forecasts and are not guarantees.

Ethereum Price Prediction: Can ETH Hold $2,400?

Ethereum has reached a critical point where the next move is crucial. After rising from around $1,900 to the $2,550 area, prices moved sideways near highs for several days. ETH is currently trading at around $2,400.

As long as the $2,400 to $2,420 area is held, the next test will be to break through the $2,480 to $2,500 again. Above that, the real obstacle is a local high of $2,535 to $2,555. If we can break through and stabilize that level cleanly,$2,600 to $2,650 will be the target, followed by $2,750. If momentum continues to increase, US$3,000 will be the main upside target.

Losing $2,400 will change the situation. By then,$2,350 will become the next observation level. In short, the path is as follows: hold on to $2,400; recover $2,500; break through local highs; and then look higher. A simple correction is not a red flag. The trend structure weakens only when buyers fail to hold on to the same area that supported the latest round of gains.

Today's Bitcoin Price: Key Points

The story of today's Bitcoin Price is essentially a Federal Reserve story. Walsh's comments in Jackson Hole did not promise a rate hike, but eliminated certainty of a pause in interest rates, which was enough to scare off leveraged cryptocurrency traders. Bitcoin, Ethereum and Ripple face a more difficult situation ahead of the September Fed meeting as the probability of raising interest rates exceeds the probability of leaving rates unchanged for the first time in weeks.

Disclaimer : This article is for information only and does not constitute financial, investment or trading advice. Cryptocurrency prices fluctuate sharply, and past performance does not guarantee future results. The chart shapes, technical levels and price targets discussed in this article are speculative and are not guaranteed. Be sure to research and consult a licensed financial adviser before making an investment decision.