Bitcoin News Today: Bitcoin Slides 5.3% as Altcoins Lose 10% Amid Bearish Sentiment

Bitcoin's recent price action has drawn attention as the cryptocurrency fell to a daily low of $113,770, with market sentiment turning increasingly bearish. The broader cryptocurrency market has mirrored this downturn, experiencing a 10% decline in altcoin values as Bitcoin struggled to hold key technical levels [1]. Analysts are closely monitoring the $112,500 support zone, which is seen as critical in determining the direction of the next few trading sessions. A break below this level could signal further downward pressure, particularly on altcoins like Solana, which have already shown signs of weakness [1].

The broader macroeconomic environment continues to weigh on the market. The upcoming Jackson Hole symposium and Federal Reserve policy announcements are expected to play a pivotal role in shaping investor sentiment. Inflationary concerns and ongoing tariff discussions have already contributed to a negative trend in risk assets, with the crypto market being no exception [1]. Altcoins, which tend to be more sensitive to macroeconomic shifts than Bitcoin, have been especially hard hit.

Regulatory uncertainty is another factor clouding the outlook. The U.S. Securities and Exchange Commission (SEC) has delayed decisions on ETF applications for cryptocurrencies like Solana and XRP, adding to the sense of uncertainty among traders. This lack of regulatory clarity has kept many investors on the sidelines. For example, Solana closed below $189, showing signs of vulnerability after reaching $160 earlier in the year [1].

Despite the bearish tone, some analysts remain cautiously optimistic. Michael Poppe, for instance, is hopeful for a potential recovery if Bitcoin continues to trade above $117,000 [1]. A sustained close above this level could indicate a strengthening trend and potentially lead to renewed interest in altcoins. However, the broader market remains divided, with some fearing a deeper pullback should Bitcoin fail to reclaim key support levels.

Ethereum is emerging as a key indicator for the altcoin market. Technical analysis suggests that the asset may retest the $3,900 support level before mounting a potential 100% rally to new highs, assuming it can overcome resistance at $4,400 [7]. The outcome of this liquidity battle could determine whether altcoins follow a similar trajectory or continue to underperform Bitcoin.

Meanwhile, WLD and Fartcoin have also attracted attention. Ali Martinez has shared a chart for WLD, predicting a potential breakout from a triangular formation, which could see the price targeting $0.50. Previous stops have been identified at $0.78 and $0.62 [1]. On the other hand, Altcoin Sherpa is more optimistic, anticipating a bounce in Ethereum within a green box on the chart and noting that billions of dollars are still flowing into the market [1]. For Fartcoin, the analyst suggests that a local bottom may have been reached, but a further drop to $0.77 is still possible if the current base breaks.

Investors are also keeping an eye on token unlock schedules, which can influence circulating supply and price stability. Coins like KAITO, MURA, and MOCA are facing increased supply pressures as new tokens enter the market [8]. This dynamic adds another layer of complexity to altcoin performance, as traders attempt to balance fundamental value with tokenomics.

As Bitcoin continues to consolidate and test key support levels, the broader crypto market remains in a transitional phase. The coming weeks will likely determine whether Bitcoin can regain upward momentum or if the altcoin market faces further volatility. With macroeconomic conditions remaining uncertain, market participants are closely watching for signs of stabilization in both Bitcoin’s price and the broader crypto ecosystem.

Sources:

[1] Bitcoin Steadies at $118K as Analysts Flag Deeper Pullback Risks and Altcoin Rotation

https://www.coindesk.com/markets/2025/08/17/bitcoin-steadies-at-usd118k-as-analysts-flag-deeper-pullback-risks-and-altcoin-rotation

[2] Bitcoin Tumbles 5.3% as Altcoins Struggle and Market Loses

https://www.ainvest.com/news/bitcoin-news-today-bitcoin-tumbles-5-3-altcoins-struggle-market-loses-119-billion-2508

[3] Bitcoin tests key 50-day EMA support as Ethereum, XRP

https://www.fxstreet.com/cryptocurrencies/news/crypto-today-bitcoin-ethereum-xrp-risk-further-losses-as-liquidations-cross-500-million-202508181127

[4] Bitcoin Slips Under $116000 While Cardano, Solana Lead

https://stocktwits.com/news-articles/markets/cryptocurrency/bitcoin-slips-under-116000-while-cardano-solana-lead-altcoin-selloff/chsO7iYRdQw

[5] Best Altcoins to Buy as Bitcoin Dips: XRP, SNORT, ADA

https://coincentral.com/best-altcoins-to-buy-as-bitcoin-dips-xrp-snort-ada-set-for-growth

[6] As Bitcoin strengthens, Strategy faces a test of relevance

https://crypto.news/bitcoin-strategy-inc-stock-premium-fades-2025

[7] ETH charts predict $3.9K retest, then a 100% rally to new highs

https://cointelegraph.com/news/eth-charts-predict-dollar3-9k-retest-then-a-100percent-rally-to-new-highs

[8] Altcoin Unlock Watch: KAITO, MURA, and MOCA face

https://cryptodnes.bg/en/altcoin-unlock-watch-kaito-mura-and-moca-face-supply-shifts/