Bitcoin News Today: Global Crypto Market Slumps 3.2% as Bitcoin Falls Below $114,000 Amid Regulatory Pressure

The global cryptocurrency market experienced a significant downturn on July 17, 2025, as Bitcoin fell below $114,000 for the first time that month, marking a sharp reversal from previous highs. The broader market mirrored this decline, with the total crypto market cap dropping by over 3.2% in the past 24 hours to $3.65 trillion. Altcoins suffered even more severe losses, with several recording weekly declines of over 10%, highlighting their heightened sensitivity to market sentiment compared to Bitcoin [1].

Technical indicators underscored the ongoing bearish pressure. The total crypto market cap failed to hold the $3.72 trillion support level, now acting as resistance. The 21 EMA was sloping downward, and the RSI was in deep oversold territory at 27.18, suggesting the potential for a short-term bounce but not a reversal of the overall trend. Volume spikes and aggressive sell-offs also indicated possible institutional unloading [2]. For Bitcoin, the 4H chart showed a rejection at a key resistance level of $118.6K, with the price breaking down from $116K and the 9 and 21 MA forming a bearish crossover. The RSI at 29.20 confirmed oversold conditions, yet no clear reversal signals emerged [3].

Among the top 10 cryptocurrencies (excluding stablecoins), Ethereum suffered the most, declining 4.60% in 24 hours and 1.68% weekly, underperforming Bitcoin. XRP, Solana, Dogecoin, and Cardano all registered losses exceeding 5% in the same period. In contrast, TRON was the only green token in the 7-day window, gaining 4.00%, possibly due to recent ecosystem developments or regulatory news [4].

The downturn was compounded by broader financial market uncertainty and regulatory developments. On-chain data pointed to short-term holders as a major source of selling pressure, with $751 million in liquidations occurring within 24 hours. Meanwhile, the U.S. Securities and Exchange Commission (SEC) continued its nationwide crypto roundtable efforts, signaling ongoing scrutiny and uncertainty for the sector. The UK’s Financial Conduct Authority (FCA) also announced a policy shift allowing retail investors to access crypto exchange-traded notes, which could amplify exposure to the volatile asset class [5].

Despite the turmoil, institutional demand for crypto remained robust. Ethereum ETFs attracted over $2.3 billion in inflows during the week, indicating continued confidence from institutional investors. Decentralized exchanges also saw growth, with DEX trading volumes hitting $1 trillion for the first time in July 2025. Hyperliquid led the way in decentralized perpetual futures, while BNB Chain experienced a surge in spot trading [6].

Market analysts noted that while the near-term outlook remains volatile, the long-term trajectory of the crypto market appears intact. Bitcoin’s unrealized gains still exceed $1.4 trillion, and investors are holding positions despite selling pressures. Large-scale holders like Michael Saylor emphasized the growing competitive advantage of holding Bitcoin as more firms adopt it, with his stake representing 7% of the total supply. If institutional demand and technological progress continue, the market could recover from the current dip [7].

The path forward remains uncertain. Bitcoin must reclaim $116K–$118K to reverse sentiment, but the broader trend remains bearish. Altcoins are particularly vulnerable, with high-volatility tokens like Dogecoin and Cardano at greater risk of further losses. The RSI for major assets is deeply oversold, suggesting a technical bounce may be imminent, but that may not be enough to shift the overall direction [8].

Source:

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

[2] https://cryptoslate.com/