Bitcoin News Today: Crypto Market Faces Volatility as Altcoin Pressure and BTC Retreat Trigger $133 Billion Cap Drop

The crypto market is bracing for potential volatility in the coming days, as multiple analysts highlight growing concerns over short-term price corrections. Bitcoin (BTC) remains near $110,000, having retreated from a recent high above $124,000 following unexpected U.S. inflation data [9]. The decline in BTC’s price has also led to a $133 billion drop in the total cryptocurrency market cap [9], signaling broader unease in the digital asset space.

Bitcoin’s market dominance, a key indicator of market dynamics, has fallen to 59% from 65% earlier this month, suggesting increased activity in the altcoin segment [1]. This shift has been noted by major exchanges like Coinbase, which sees it as a sign of a potential market recalibration [1]. The growing interest in altcoins comes amid cautious investor sentiment, with many analysts warning of further pullbacks.

XLM Coin is one of the tokens under scrutiny, currently trading near $0.42. Analyst Martinez has identified a bearish flag pattern in its price action and warns that a confirmation of this pattern could push XLM down to $0.378 [1]. Given the prevailing caution ahead of the Jackson Hole Symposium and the release of key Federal Reserve minutes, the short-term outlook for XLM appears uncertain. The broader market is also reacting to macroeconomic pressures, with the Producer Price Index (PPI) and Trump-Putin meeting outcomes playing critical roles in shaping investor behavior.

Ethereum (ETH) and other major altcoins remain under pressure. Cardano (ADA) is trading near $0.94 after a 4% drop in the last 24 hours, raising concerns about further downward movement [2]. Solana (SOL) and Sui (SUI) are also showing signs of weakness, while Ripple (XRP) is in a consolidation phase. On-chain data indicates reduced selling pressure for XRP, with some analysts expecting it to move toward $3.66 after a period of sideways trading [3]. However, others see this dip as a necessary correction before a potential rebound toward $5 [5].

Prominent analyst Lark Davis has outlined key levels for Bitcoin, noting that the $108,000 to $112,000 range aligns with the 0.5 and 0.618 Fibonacci levels and the rising weekly EMA 20 [1]. This suggests that BTC could retest this range in the near term. Meanwhile, Samson Mow has warned that Bitcoin’s direction may depend heavily on altcoin speculation [4], adding to the uncertainty.

Michael Poppe has echoed similar sentiments, suggesting that “you’ll find better buying opportunities next week” in a market that may see further declines [1]. This outlook is shared by many traders, with ADA and XRP being among the altcoins to watch closely. ADA is currently near $0.92, and its ability to hold above this level could determine whether it moves toward $1.00 or breaks down to $0.85 [8]. ARB has fallen 9% to $0.519, further deepening the bearish sentiment in the altcoin market.

The coming days will be crucial in determining whether this correction is a temporary pullback or the start of a more prolonged downturn. With the crypto market historically prone to rapid shifts, investors are advised to remain vigilant, particularly as macroeconomic pressures and the evolving dynamics between Bitcoin and altcoins continue to shape the landscape.

Source:

[1] title: Bitcoin's Dominance Dips to 59% as Altcoin Market Surpasses 1.4 Trillion

url: https://www.ainvest.com/news/bitcoin-news-today-bitcoin-dominance-dips-59-altcoin-market-surpasses-1-4-trillion-2508/

[2] title: Cardano Price Prediction: Possible ADA Dip Looms As...

url: https://www.mitrade.com/insights/news/live-news/article-3-1044432-20250816

[3] title: XRP Price Eyes $3.66 After Quiet Week

url: https://beincrypto.com/xrp-price-eyes-breakout/

[4] title: Samson Mow: Bitcoin Faces Surge or Dip Amid Altcoin Mania

url: https://bitbo.io/news/samson-mow-bitcoin-altcoin-mania/

[5] title: XRP Price Prediction: Analyst Predicts $5 as Markets Weather Liquidation Storm

url: https://crypto.news/xrp-price-prediction-analyst-predicts-5-as-markets-weather-liquidation-storm/

[8] title: 3 Altcoins To Watch This Weekend | August 9 – 10

url: https://beincrypto.com/altcoins-to-watch-this-weekend-august-9-10/

[9] title: Why is Crypto Down Today? Here's What Happened

url: https://coincentral.com/why-is-crypto-down-today-heres-what-happened-4/

[10] title: What Next For BTC, ETH, XRP, SOL, and SUI Price

url: https://coinpedia.org/news/what-next-for-btc-eth-xrp-sol-and-sui-price/