Bitcoin News Today: Bitcoin Drops Below $114,000 as Crypto Market Loses 3.2% in 24 Hours

The global cryptocurrency market faced a significant correction in late July and early August 2025, with Bitcoin falling below $114,000 after a week of sharp declines. The broader market recorded a 3.2% drop in market capitalization within 24 hours, while most altcoins experienced even sharper losses, with several posting weekly declines exceeding 10% [1]. The total crypto market cap, which previously reached $3.65 trillion, showed signs of further bearish pressure, failing to hold key support levels and reinforcing the ongoing downtrend that began in late July [1].

Bitcoin and Ethereum were among the most affected, with Bitcoin dropping below $116,000 and Ethereum falling more than 4.6% in the past day [1]. On-chain data indicates that the recent sell-off was largely driven by short-term holders offloading positions, although long-term holders have not yet begun to panic [2]. The price movements were exacerbated by macroeconomic uncertainties and shifting investor sentiment, which have contributed to heightened market volatility.

Altcoins suffered disproportionately, with Solana, Dogecoin, and Cardano among the worst performers, each posting weekly losses exceeding 10% [1]. XRP also declined significantly, losing over 4% in a single day. In contrast, TRON (TRX) was a rare outlier, recording a 4% weekly gain, possibly due to recent developments in its ecosystem or regulatory environment [1].

The sell-off has led to over $751 million in liquidations over the past week, marking one of the most intense correction waves of the year [1]. Bitcoin’s futures market also reflected the uncertainty, with an unfilled price gap of $1,770 reported in the CME Bitcoin futures contract over the weekend [2]. This divergence between spot and futures prices signals ongoing market instability as traders attempt to adjust to new price levels.

Despite the sharp downturn, the market remains in a net profit zone, and some analysts suggest that the correction may create opportunities for long-term investors [2]. However, the rapid shifts in sentiment highlight the need for robust risk management in the crypto space, where volatility remains a defining characteristic.

Bitcoin’s 4-hour chart reveals a bearish technical setup, with price breaking down from key support levels and moving into oversold territory. A recovery would require Bitcoin to reclaim the $116,000 to $118,600 range, while Ethereum will need to stabilize and show strength above current levels to regain investor confidence [1].

The broader market outlook suggests continued bearish pressure unless institutional buyers step in to support prices. The 21 EMA and RSI indicators on the total market cap chart confirm the ongoing downtrend, with further support levels expected around $3.54 trillion [1].

Source:

[1] CryptoTicker - https://cryptoticker.io/en/crypto-market-crash-bitcoin-dips-altcoins-plunge-august-2025/

[2] cipherbuzz.com - https://cipherbuzz.com/sitemap/

[3] CryptoSlate - https://cryptoslate.com/