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Crypto Prices Today: Bitcoin drops below $105,000 amid market consolidation; Altcoins decline up to 6%

The cryptocurrency market witnessed a broad-based decline on Wednesday, with Bitcoin falling below the $105,000 mark amid cautious sentiment driven by macroeconomic factors and profit booking in altcoins.

At 2:22 pm IST, Bitcoin was down 0.8% at $104,696, while Ethereum declined 1.3% to $2,607, according to CoinMarketCap. The global cryptocurrency market cap also dipped 1.19% to $3.29 trillion.

Bitcoin’s market dominance fell to 63.3%, reflecting the broader weakness across major digital assets.

Key altcoins posted sharper losses. XRP fell 2.4%, Solana declined 3%, Dogecoin dropped 3.5%, and Cardano and Sui were each down 3%. Hyperliquid lost 4%, Chainlink dropped 4.2%, and Avalanche was the biggest loser with a 5.7% fall.

Bitcoin is consolidating near $105,000 even as risk-on markets remain cautious with new U.S. tariffs on steel and aluminium in effect,” said Vikram Subburaj, CEO at Giottus. “BTC needs to reclaim $106,000 to retain its bullish momentum.”

He added that structural metrics remain strong, with spot BTC’s trading share on Binance rising from 26% to 35% over the past week. Additionally, over 20,000 BTC have been moved from exchanges like Kraken and Bitfinex to private wallets, signalling supply tightening and long-term holding behaviour.