It was another bloody Friday in the cryptocurrency markets, as Bitcoin dumped to a multi-month low (on most exchanges) at under $104,000. The altcoins were smashed even harder, with massive price declines from the likes of ETH, BNB, XRP, SOL, DOGE, and many others.
### BTC Calms at $107K
The overall market-wide calamity began last Friday when BTC dumped from $122,000 to $110,000 or down to $101,000 on exchanges like Binance. It bounced off last weekend and remained above $110,000.
Bitcoin kept climbing at the start of the business week and peaked at $116,000 on Monday and Tuesday. However, it faced an immediate and painful rejection at that point, which drove it south to $110,000. Although that support line held at first, the bears kept the pedal to the metal, and it gave way on Thursday evening.
The landscape only worsened on Friday when Bitcoin slumped first to $108,000 and then below $104,000, marking a three-month low (again, on most exchanges).
After such a substantial collapse, some positive macro news emerged: US President Trump announced that the tariffs he introduced on China last week won’t stand. BTC reacted with an immediate bounce to over $106,000 and has since added another grand.
Nevertheless, Bitcoin’s market cap has slipped to $2.130 trillion, while its dominance over the altcoins stands at 57.3%.
### Altcoins Still Struggle
Although most altcoins have recovered some ground from their lows marked yesterday, the overall picture remains grim.
– ETH is below $3,900 after a minor decline over the last 24 hours.
– BNB has lost the $1,100 support level following a 3% drop.
– TRX, DOGE, ADA, LINK, HYPE, BCH, SUI, AVAX, and HBAR are also in the red.
– XRP, SOL, and XLM managed to post minor gains.
Among the worst performers, COAI has dumped by another 17% in the past 24 hours, followed by AAVE (-5.3%) and ASTER (-5%).
In contrast, ENA surged by 12.5%, followed by TAO, which rose 8%.
The total crypto market cap has recovered to just over $3.7 trillion on CoinGecko but is still down by roughly $500 billion since last Friday.
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The cryptocurrency landscape remains volatile, with Bitcoin trying to stabilize amid broad-based altcoin weakness. Investors will be watching closely for signs of next week’s direction.
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