In the past 24 hours the cryptocurrency market has seen sweeping declines, and several altcoins have been hit particularly hard. Among them, Aster (ASTER), Cosmos (ATOM) and Bitget (BGB) are standing out as the most affected, each losing significant value as market sentiment turns bearish. The sell-off has been driven by a combination of technical breakdowns and renewed dominance by the bears, raising questions about near-term recovery potential.
Aster’s sharp decline below $1
Aster has dropped under the $1 mark, trading around $0.93 at the time of writing after about a 25% fall in a single day. This steep drop follows recent buying momentum—including a large personal investment by Changpeng Zhao—that was wiped out by the wave of selling.
Technically, Aster has broken the Pivot S1 level at about $0.9588 and is now heading toward Pivot S2 around $0.6915 in the 4-hour chart. Momentum indicators show the bears gaining control: MACD has crossed below the signal line and the zero line, and RSI is hovering near 42, suggesting the downward trend still dominates.
While a short-term bounce could target the central pivot around $1.1216, the overall tone remains risk-off unless buying strength returns in a meaningful way.
Cosmos extends its correction
Cosmos is also extending its bearish movement, currently trading just above $2.50 (likely meaning $2.50k—there may be a typographical error in the source) and targeting Pivot S3 at roughly $2.411. The downward bias is supported by 50-, 100- and 200-period EMAs sloping downward on the 4-hour chart.
The MACD/Signal lines have again crossed downward, while RSI is at about 22, indicating an oversold condition. On the upside, a recovery past Pivot S2 (~$2.633) could open a rebound toward ~$2.843, but at present the risk of further losses appears greater.
Bitget token under heavy pressure
Bitget’s native token BGB has suffered as well, down roughly 16% on Monday followed by another ~1% drop Tuesday, now trading under $4.00. Technical signals show a “death cross” of the 50-day EMA beneath the 100-day EMA—a bearish signal—and MACD has moved below its signal line. RSI is near 21, again pointing to heavy selling pressure and an oversold state.
If BGB can stage a recovery above $4.00 it could then attempt to test the $4.231 level (the July 8 low), but until then downside risk remains pronounced.
Broad implications & outlook
What’s happening with Aster, Cosmos and Bitget reflects the broader crypto market dynamic right now:
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A resurgence of sell-pressure across many coins, which is erasing recent gains and pushing support levels to the brink.
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Technical breakdowns are reinforcing bearish sentiment: key pivot levels are being broken and momentum indicators are flashing red.
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Oversold indicators (e.g., RSI values in the 20s) may imply that short-term capitulation could occur, but they do not guarantee an immediate rebound.
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Recovery scenarios do exist if buying emerges aggressively: in Aster’s case a move toward ~$1.12; for Cosmos maybe ~$2.843; for Bitget a rally above ~$4.00 would be needed to shift momentum.
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However, until broad market sentiment improves, these tokens—and the wider altcoin market—are vulnerable to further drops.
Final thoughts
Investors and traders should proceed with caution. Heavy losses over a short period often signal shifting risk-profiles, and entering new positions without clear reversal signs can be perilous. The cases of Aster, Cosmos and Bitget aren’t just isolated failures—they may be early signals of deeper, broader weakness across altcoins.
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