Bitcoin dips below $102,000 amid fading momentum and macro uncertainty$BTC
Bitcoin (BTC) fell to a low of $101,500 on June 5, marking its sharp decline in over a month as a wave of selling swept through the crypto markets. The drop extended a multi-day slide driven by a shift in investor sentiment and reduced demand from institutions. The world's largest cryptocurrency touched $101,500 before stabilizing just below $102,000. Bitcoin is now down over 8% from last month's peak of around $112,000 and could follow with further losses if confidence continues to erode. Other digital assets also fell. Ethereum (ETH) dropped below $2,506, down about 4% on the day, while Solana (SOL) fell to $144, down about 8%. BNB also decreased by more than 4% to a low of $640 before attempting to stabilize. DogeCoin (DOGE) fell more than 8% to $0.169, while XRP saw a decline of nearly 4% to $2.11. As of press time, Bitcoin was trading at $101,900, down 2.87% for the day as bulls tried to hold the price in the six-figure range. Fading momentum follows a sharp drop in flows to Bitcoin exchange-traded funds (ETFs), with fund data showing a weekly drop of 77%. The slowdown in institutional buying has removed a key support source that underpinned Bitcoin's recent rally to record highs. At the same time, older holders continue to sell after months of gains, adding more downward pressure. On-chain data indicates profit-taking in the market and cooling across the broader market after a period of rapid price appreciation across the crypto sector. The tone among asset managers has also shifted, with many citing uncertainty about the Fed's next move as a reason to reduce exposure to volatile assets like crypto. The sell-off has not been limited to crypto markets, with financial markets across the board seeing sharp declines for the trading day. Macro uncertainty keeps traders on edge ahead of upcoming US jobs data and new comments expected from the Fed. With inflation and rates still high, risk appetite across asset classes has weakened. Crypto has not been spared, with many investors moving to cash as volatility spikes. A weaker-than-expected job number might bolster arguments for rate cuts, but it could also heighten fears of an economic slowdown. Earlier this week, the ADP private payroll report showed job creation falling short of expectations, marking its weakest print in over two years. Meanwhile, geopolitical and macro uncertainty continues amid concerns over tariffs and upcoming interest rate decisions from major central banks. Adding to the uncertainty, long positions have declined to their lowest levels since December. The rapid unwinding of these positions suggests that even the most aggressive bulls have pulled back, at least for now. If Bitcoin fails to hold the $100,000 level, traders expect a rapid descent toward $97,000 or lower, representing a significant retracement from its 2025 highs. Bitcoin Market Data As of press time 9:09 PM UTC on June 5, 2025, Bitcoin is ranked #1 by market cap and the price is down 2.66% in the last 24 hours. Bitcoin has a market cap of $2.03 trillion with a 24-hour trading volume of $49.52 billion. Learn more about Bitcoin › Crypto Market Summary As of press time 9:09 PM UTC on June 5, 2025, the total crypto market cap is estimated at $3.2 trillion with a 24-hour volume of $117.31 billion. Bitcoin's dominance currently stands at 63.34%. Learn more about the crypto market › Mentioned in this article Published in: Bitcoin, Dogecoin, Ethereum, Ripple, Solana, United States, Analysis, Crypto, Macro, Market, Price Hour Latest Alpha Market Report
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