Bitcoin News Today: Bitcoin Slides Below $112K as Altcoins and ETF Decisions Drive Market Uncertainty

Last week’s cryptocurrency market experienced a sharp downturn, particularly affecting Bitcoin and altcoins like Ethereum [1]. Traders and analysts are now turning their focus to a packed week of economic developments and altcoin events that may trigger further volatility or recovery [2]. The week ahead includes key decisions on several Solana-focused ETF applications, major altcoin launches, regulatory updates, and macroeconomic data releases from the UK and U.S. [3].

On Monday, Solana Mobile’s Seeker device is set to begin shipping, a key moment for the project which has generated significant pre-order interest [1]. Wednesday and Friday will see multiple decisions on Solana ETF applications from different providers, including Grayscale, VanEck, 21Shares, and Bitwise, potentially signaling broader institutional acceptance of the asset [3].

Meanwhile, altcoin activity is expected to rise with the launch of Rice Robotics’ RICE token on the TokenFi Launchpad [1]. Ethena (ENA) is showing strong technical indicators and is entering a parabolic recovery phase, while Maxi Doge has successfully raised $175,000 in a 48-hour presale. Analysts are optimistic about its potential to outperform Dogecoin, given its staking rewards and growing community [2]. XRP has also seen increased volatility, mirroring the broader market’s movement as Bitcoin continues its correction [3].

Macro developments may also influence the market. The Trump administration has postponed bilateral tariffs with China to August 7, and the UK is set to announce a likely 25 basis point interest rate cut on Thursday [1]. Additionally, U.S. initial jobless claims data will be released, offering further insight into labor market conditions [3].

The week will also see Bybit delisting several tokens, including RPK, AEG, EGO, and LUCE, a move that could shift trading activity and liquidity within the altcoin market [1]. The Blockchain Science Conference 2025, starting on Wednesday, will bring together key industry players to discuss emerging trends and technologies [3].

Bitcoin remains in a critical support zone between $105,000 and $107,000, with particular focus on the $107,100 level. The recent drop has been attributed to macroeconomic tension, investor sell-offs, and large-scale dumping by miners, which has already led to nearly $1 billion in leveraged position liquidations [1].

With multiple high-impact events unfolding over the coming days, traders and investors are advised to closely monitor key price levels, ETF decisions, and macroeconomic data releases for signs of market direction [1]. Platforms such as TradingView, CoinDesk, and CNBC are providing real-time analysis, offering valuable tools for those navigating a week of uncertainty and potential opportunity [5].

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Source: [1] BTC Down $10K From ATH – Here Are Bitcoin's Next Support Zones (Analyst)

https://cryptoadventure.com/btc-down-10k-from-ath-here-are-bitcoins-next-support-zones-analyst

[2] Maxi Doge Presale Soars As Top Analyst Says It Can Outperform Dogecoin

https://blockchainreporter.net/maxi-doge-presale-soars-as-top-analyst-says-it-can-outperform-dogecoin

[3] Ripple's XRP Joins Market Pullback as Bitcoin (BTC) Recovers From Sub-112k Drop

https://cryptoadventure.com/ripples-xrp-joins-market-pullback-as-bitcoin-btc-recovers-from-sub-112k-drop-weekend-watch

[4] Upcoming Crypto Events that could Impact the Market

https://m.facebook.com/manuel.guevarra.369210/photos/upcoming-crypto-events-that-could-impact-the-marketaugust-could-redefine-the-cry/735805149332696/

[5] Crypto World: latest crypto news and digital currency updates

https://www.cnbc.com/cryptoworld/