Other major coins like Ethereum and Solana also drop by 2%โ3%
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๐ก What to Know:
Bitcoin dropped over 2.5% early Friday, hitting its lowest price since July 10.
Other top cryptocurrencies like Ethereum (ETH) and Solana (SOL) also fell 2%โ3%.
The U.S. stock market index, Dow Jones, stopped moving higher near a strong resistance level.
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๐ช What Happened?
Bitcoin's price fell to $115,170, breaking below the recent price range of $116,000โ$120,000.
This drop shows weakness in the market and may lead Bitcoin to fall further, possibly toward $111,956, which was a key level in May.
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๐ Other Coins Also Fell
The broader crypto market, including:
Ethereum (ETH)
Solana (SOL)
XRP
All saw drops between 2% and 3%.
The CoinDesk 80 Index, which tracks the whole crypto market, dropped 2.6% in the last 24 hours, reaching 898 points.
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๐ U.S. Stock Market Also Weak
The Dow Jones Industrial Average (a major stock market index) fell 0.70% on Thursday.
It stopped near the 45,000 level, which has acted as resistance in both December and January.
If the stock market continues to fall, it could create more fear and selling pressure in the crypto market too.
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๐ง Simple Summary:
Bitcoin is falling again and broke a key support zone.
Ethereum, Solana, and XRP are also down.
Weakness in the U.S. stock market is making the crypto market nervous.
Watch for Bitcoin possibly going down to $111,956 next.
