Crypto Markets Plummet as Bitcoin Drops Below $115K
The crypto market lost over 2% in 24 hours, with total market cap falling to $3.74T, erasing $40B. Bitcoin fell from $120K to $114.2K, with altcoins like Ethereum and Solana also hit. Selling pressure surged, with 21,400 BTC sent to exchanges at a loss. Profit-taking after Bitcoin’s $123,218 peak, ETF outflows, and whale activity fueled the downturn. Macro factors, including weak U.S. job data and new tariffs, added bearish pressure, with investors eyeing a potential Fed rate cut in September.
Source: Abdul Wasay
