Why Is the Crypto Market Down Even After Bitcoin Hit $107K?
Bitcoin briefly surged past $107,000, setting a new all-time high — but the crypto market pulled back instead of rallying. Here’s why:
1. Profit-Taking: Traders locked in profits after BTC’s surge, pulling it back to ~$103K and dragging altcoins down 3–7%.
2. U.S. Inflation Data Ahead: Investors are cautious ahead of key inflation numbers, which could affect Fed rate decisions and risk asset demand.
3. ETF Inflow Drop: Spot Bitcoin ETF inflows fell sharply from $334.58M to just $5.10M, signaling weaker institutional interest.
4. Coinbase Data Breach: A major security incident shook market confidence, with potential losses up to $400M.
5. Regulatory Crackdown: Authorities shut down Haowang Guarantee’s illicit operations, disrupting shadow market crypto flows.
Current Snapshot:
BTC Price: ~$103,043
Altcoins: ETH, BNB, SOL down 3–7%
Conclusion:
Profit-taking, macro uncertainty, weak ETF inflows, a major exchange breach, and regulatory moves are driving short-term volatility — even as the long-term crypto outlook stays bullish.
