The latest situation in the cryptocurrency markets: how much did Bitcoin and Ethereum cost?

The cryptocurrency markets are going through a turbulent period after Silvergate and FTX collapsed on the fourth business day of the week.
Silvergate failed to file a 10-K report with the SEC this week, and then Coinbase announced it would stop paying Silvergate.
Following these events, bitcoin retreated overnight to $21,970 with a 5% loss in value. However, it started the day with a small recovery and is trading at $22,370 at the time of valuation preparation. The market capitalization of the leading cryptocurrency is about $431 billion.
Ethereum also fell to $1,544 overnight following bitcoin. In the morning hours, it is showing movement at $1,560.
After bitcoin lost two important support levels, altcoins also saw a sharp drop in the 5%-10% range. TROY, AKRO, RIF and QUICK stand out as the most rising cryptocurrencies on Bitay with double-digit gains on the new day.

Down below 1 trillion

With this latest sharp retreat, the overall value of the cryptocurrency market has fallen below $1 trillion. Bitcoin's dominance is 43.63 and Ethereum's is 19.3.
Bitcoin reached the $21,970 level after experiencing a sharp retreat overnight. Bitcoin, whose price reached $22,370 in the morning hours and broke through two important support levels, appears to have broken the lower band of the upward channel in which it has been moving for a long time.
Although it has fallen below the important $22,315 support level, its move above that level in the morning hours is positive for now. However, if it fails to hold at that level during the day, levels of $21,970 and then $21,538 could be tested.
In a positive scenario, pricing above the lower boundary of the channel, i.e., the level of $22,500, would be positive. If the price holds at this level and consolidates above it, we can expect the next resistance level to be the $23,170 level.

The Ethereum pullback is 5 percent

Ethereum experienced a pullback of about 5 percent overnight, with the move being the same as the pullback in the leading cryptocurrency. Although Ethereum was priced at $1,560 in the morning hours, it is below the critical falling main trend.
If the price stays below $1,576, which is the critical level for Ethereum, we can expect the first support level of $1,544 to trigger a downtrend. If it fails to hold at that level, a pullback to the $1,505 level and then to $1,460 is possible.
In a positive scenario in an upward movement will be very important to break through the level of $1,576 and to ensure its fixation above it. Then we can expect that the levels of $1,600 and $1,719 will act as resistance.