The cryptocurrency market is in turmoil as Bitcoin falls to $113,000, Ethereum drops below $4,300, and major altcoins are all in the red. What is behind this sell-off?
Today's Cryptocurrency Collapse: Widespread Sell-Off
The cryptocurrency market has entered another sharp correction, with most major coins deep in the red. Bitcoin's drop below $114,000 has left investors rattled, while Ethereum and top altcoins are facing double-digit weekly losses. High trading volumes indicate that liquidation pressure remains substantial, reflecting a fragile market environment.
Today's Cryptocurrency Prices: Latest Price Overview
Based on the latest market data (see chart):
Bitcoin ($BTC): $113,587, down 1.72% daily and -5.59% weekly
Ethereum ($ETH): $4,212, down 1.98% daily and -10.20% weekly
XRP: $2.89, down 4.10% daily and nearly -12% weekly
BNB: $831, down 1.60% daily
Solana ($SOL): $180.96, down 10.07% weekly
Cardano ($ADA): $0.85, down 8.38% daily and continuing to slide
Stablecoins like $USDT and $USDC remain pegged near $1, but high trading volumes indicate capital is shifting from risk assets to safe havens.
What Causes the Cryptocurrency Market Collapse?
The market downturn occurs against a backdrop of a combination of macroeconomic pressures and specific cryptocurrency pressures:
Macroeconomics: Inflation in the EU remains stable at 2%, causing central banks to be cautious in cutting interest rates. Global risk appetite is weakening, heavily impacting speculative markets.
Technical sell-off: After a recent all-time high, major cryptocurrencies are facing significant profit-taking.
Liquidity crisis: Over-leveraged traders are facing liquidations, driving a wave of sell-offs across many tokens.
Cryptocurrency Predictions: What Will Happen Next with Cryptocurrency?
The market remains in a precarious phase as Bitcoin struggles to stabilize above $113,000. If the sell-off deepens, key price levels to watch are $110,000 for BTC, $4,000 for ETH, and $0.80 for ADA. A rebound may occur if buyers step in at these support levels, but market sentiment remains fragile.
