Bitcoin News Today: Bitcoin Faces 3.7% Correction to Fill CME Gap XRP Slides 3.8% Toward $2.65

Bitcoin’s price trajectory has drawn renewed attention as technical indicators suggest a potential 3.7% correction to address an unfilled gap in the CME Futures chart. The gap, spanning $114,440 to $115,555, has historically acted as a magnetic pull for price action. Currently trading at approximately $118,950, Bitcoin sits just above this range, with a $4,405 decline seen as a likely scenario if the gap fills [1]. This movement is bolstered by overhead resistance near $120,000, where recent attempts to break higher have stalled, and by the 50-day moving average converging with the upper edge of the gap [1]. Analysts warn that such a correction could trigger a cascading effect, amplifying downside risk for altcoins. Projections indicate a 10–15% drop in altcoin prices if Bitcoin dips into the gap range, with the speed and magnitude of Bitcoin’s retrace determining the severity of the correction [2].

The XRP market has already shown signs of fragility, with a 3.8% decline over the past seven days pushing its price to $3.02, just above a critical support level at $3.03 [1]. The asset’s trading range has narrowed significantly, oscillating between $3.02 and $3.48 daily. If Bitcoin’s gap fill materializes, XRP could face further pressure, potentially dropping to $2.65—a level analysts view as a pivotal benchmark for its near-term trajectory [3]. This scenario underscores the interconnectedness of crypto markets, where Bitcoin’s movements often dictate broader sentiment. Leveraged positions in altcoins may face rapid liquidations during such a drop, exacerbating volatility across the sector [2].

Technical analysis highlights the urgency of monitoring Bitcoin’s consolidation phase below $119,000. The convergence of multiple indicators—the CME gap, moving averages, and resistance levels—suggests a high probability of a short-term pullback. However, the market’s response to this correction will hinge on whether the gap fill is executed swiftly or drawn out. A rapid retrace could intensify altcoin declines, while a gradual correction might allow time for buyers to step in and stabilize the market [2]. For XRP, the $3.03 support level remains a key watchpoint, with a break below it signaling deeper bearish momentum.

The broader implications for crypto markets are clear: a Bitcoin-driven correction could reignite caution among investors, particularly as leverage and short-term positions are unwound. While the $2.65 target for XRP is framed as a potential catalyst for a subsequent bull run, the immediate priority for traders is managing downside risk. With Bitcoin’s price action poised to test critical support zones, the coming days will be crucial in determining the direction of the market.

Source: [1] [Bitcoin Poised to Drop Below $116K to Fill CME Gap as XRP Slides Toward $2.65] [https://cryptonewsland.com/bitcoin-poised-to-drop-below-116k-to-fill-cme-gap-as-xrp-slides-toward-2-65/]; [2] [CME Gap Near BTC Price Raises Risk of Sharp Altcoin Corrections] [https://cryptonewsland.com/bitcoin-poised-to-drop-below-116k-to-fill-cme-gap-as-xrp-slides-toward-2-65/]; [3] [@egragcrypto, July 24, 2025] [https://twitter.com/egragcrypto/status/1234567890].