Bitcoin has slipped back into the $115,000 range, shedding about 2.6% in the last 24 hours, marking one of its sharpest pullbacks since reaching near $123,100 earlier this month. This decline has dragged the broader crypto market lower, with several altcoins seeing even steeper losses.
š 1. PostāRally Exhaustion & Profit-Taking
Bitcoin surged to new all-time highs over recent weeks, but that momentum is starting to fade. Large holders and whales are cashing in, prompting heavy rebalancing. In the past 24 hours alone:
Over $586 million in long BTC positions were liquidated.
Bitcoin accounted for roughly $150 million of that total.
This cascade of forced selling has pushed prices downward more sharply than a typical correction.
šø 2. ETF Outflows Hurt Momentum
Bitcoin-focused ETFs recently ended a 12-day inflow streak, suffering approximately $285 million in outflows over just three days. Institutional investors appear to be trimming positions now that Bitcoin has pulled back, removing a key support driver.
š 3. Capital Rotates Toward Ethereum & Altcoins
Ethereum has captured investor interest after gaining over 50% this month. Capitalāespecially from institutional flowāis shifting to ETH and select altcoins, which has put pressure on Bitcoin dominance. Conversations across social platforms suggest attention and sentiment are increasingly focused on altcoins, not BTC.
ā ļø 4. Macro Uncertainty & Policy Risks
Headwinds from unresolved U.S. trade negotiations and uncertainty around upcoming tariff deadlines are weighing on risk sentiment. With a Federal Reserve meeting just days away, investors are reducing exposure to volatile assets, and Bitcoin is being affected by these broader market jitters.
š Market Snapshot & Key Metrics
Price Level: Bitcoin currently trades around $115,630, down roughly 2.6% in 24 hours, with weekly losses nearing 3.9%.
Open Interest: Just hit a record $44.5 billion, signaling elevated leveraged positioning across the market.
Altcoin Performance: XRP, Solana, and other major tokens fell between 4ā6%, intensifying the overall market decline.
Total Crypto Market Cap: Dip of over $100 billion, falling back toward $3.72 trillion.
Technical indicators also show Bitcoin has slipped below the middle band of its 20-day Bollinger Band (~$116,300), and momentum tools like RSI suggest weakening trend strength.
š® Whatās Next? Levels & Scenarios to Watch
Scenario Target Levels What to Look For
Upsidebounce Recovery above $116Kā$117K A turn upward in funding and volume
Deeper pullback $111K support levels Breakdown could test prior consolidation zones
Sideways range $115Kā$120K Market may consolidate until new catalyst emerges
Analysts warn that if BTC fails to hold above $115Kā$116K, a move down to $111K is plausible. On the flip side, a bounce above $120K could signal renewed bullish confidence.
ā Bottom Line
This pullback looks like a healthy cooldown ā not the end of the rally. It reflects profit-taking, shifting capital flows, ETF outflows, and macro uncertainty. Watch for support at $115Kā$116K, and keep an eye on altcoin momentum and incoming policy news for clues on Bitcoinās next move.
