#Bitcoin Dips as Broader Crypto Market Sheds Over 3%
The global cryptocurrency market experienced a significant sell-off on Friday, losing approximately 3.39% of its total market capitalization, which fell to $3.66 trillion by 7:00 p.m. ET. Bitcoin (BTC), the largest cryptocurrency by market cap, was trading around $113,033 globally. However, in South Korea, a known hotbed for crypto trading, BTC was priced higher, changing hands for $113,987—representing a 0.843% premium.
This divergence highlights the persistent demand for Bitcoin in specific regional markets, even amidst global turbulence.
Bitcoin’s Rejection of $116K Signals Potential Downtrend
Earlier in the week, Bitcoin had been consolidating above the $116,000 mark, signaling potential strength. However, the failure to hold above that level appears to have triggered a wave of sell orders, pushing BTC down to $112,680. This level now serves as short-term support, but market analysts remain cautious.
Interestingly, BTC’s previous markdown, which began on July 8 and lasted 24 days, has now effectively dissipated. While this might indicate a reset in momentum, current price action suggests the bears are in control.
Ethereum, Solana, and Other Major Altcoins Follow Suit
Bitcoin wasn’t the only digital asset in the red. The altcoin market mirrored BTC’s volatility with steeper losses:
Ethereum (ETH) dropped 6.9%, trading at $3,463 per coin.
$BNB fell 4.8%.
$XRP lost 3.1%.
#Dogecoin (DOGE) fell 5.6%.
#Cardano (ADA) plunged 4.6%.
These widespread losses reflect a broader risk-off sentiment in the crypto market, as investors retreat to stablecoins or exit positions altogether.
Few Winners Emerge Amid Market Meltdown
Read more : https://24crypto.news/bitcoin-slides-below-113k-amid-market-wide-crypto-crash-ethereum-solana-xrp-also-plummet-105595
