Bitcoin News Today: Major Cryptos Fall 3.3% to 10.3% as Market Volatility Deepens

The cryptocurrency market has experienced a sharp downturn, with Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL), Dogecoin (DOGE), and others seeing significant losses in the past 24 hours and over the past week [1]. Bitcoin, which is currently trading at $114,077, has decreased by 0.1% in the last 24 hours and 3.3% over the past seven days. Similarly, Ethereum has dropped by 0.5% in the last day and 4.7% over the past week, while XRP has seen a 2.4% drop in a day and a 5.8% decline in the past week [1]. Solana and Dogecoin have also suffered substantial weekly losses of 9.4% and 10.3%, respectively [1].

This widespread decline has heightened concerns among investors, particularly given the leading roles these cryptocurrencies play in the market. Ethereum’s drop, for example, is seen as an early warning of possible broader market instability. The situation has been exacerbated by unwinding positions by hedge funds and growing macroeconomic concerns [8]. Meanwhile, Bitcoin ETFs have seen significant outflows, with investors withdrawing over $1.14 billion in two weeks amid heightened U.S.-China trade tensions [14].

Despite the broader market selloff, a few altcoins have defied the trend. MYX Finance (MYX) has surged by 146% to $2.08, offering a rare bright spot in the market [1]. TROLL (TROLL) and GXChain (GXC) have also seen impressive gains of 76% and 66.9%, respectively [1]. Other altcoins like Talos (T), Bucky (BUCKY), and Karrat (KARRAT) have shown resilience with gains of 40.4%, 37.6%, and 26.2% [1]. This divergence highlights the market's volatility and the potential for both risk and reward in the current environment.

Bitcoin, the largest cryptocurrency, has experienced sharp price swings amid a broader selloff. On August 5, 2025, it fell below $90,000, marking one of its lowest levels since November 2024 [8]. Analysts have attributed the drop to unwinding positions by hedge funds and growing macroeconomic concerns. Some analysts predict a potential rebound for Ethereum if it maintains positive momentum, with a target of $10,000 for the asset [15]. Additionally, Ethereum traders remain cautious, with options data suggesting a potential 10% drop for Solana [1].

XRP has shown both short-term volatility and occasional strength. On August 5, it had dropped nearly 9% in the past seven days, dipping to around $2.92 amid macroeconomic pressures [5]. However, earlier in the month, XRP surged past $3.05 following a period of high trading volumes and whale activity [7]. Despite the bearish short-term outlook, some traders remain optimistic about XRP’s long-term potential, with predictions of it reaching $20, $100, or even $300 [23]. XRP’s decentralized exchange has also seen a surge, hitting $17 million in daily trading volume [24].

Institutional interest in Bitcoin appears to be growing. Michael Saylor’s Strategy has continued to accumulate Bitcoin, bringing its total holdings closer to 500,000 BTC [18]. Additionally, Rezolve AI has committed $1 billion to Bitcoin, signaling further institutional adoption [12]. However, political developments continue to influence the market. El Salvador has paused its daily Bitcoin purchases following an agreement with the IMF [22], while Russia is moving to classify crypto as property in criminal cases [25].

Looking ahead, the market remains highly sensitive to macroeconomic data, with key U.S. reports expected to influence crypto prices in the coming weeks [13]. The ongoing debate over Bitcoin reserves in U.S. states, including Montana’s rejection of a Bitcoin reserve bill, also highlights the shifting landscape of institutional and regulatory interest in the cryptocurrency [11].

While short-term volatility continues, the long-term outlook for major cryptocurrencies remains a subject of both caution and optimism. Traders are watching closely for any signs of a potential breakout, particularly if Ethereum can break above $4,200 [1]. The evolving market presents both challenges and opportunities for investors and traders navigating the uncertain landscape of the crypto industry.

Source:

[1] Ether could 'rip like 2021' as SOL traders brace for 10% drop, Cointelegraph, https://cointelegraph.com/magazine/ether-solana-bitcoin-xrp-price-predictions-crypto-traders-trade-secrets-cointelegraph/?utm_campaign=rss_partner_inbound&utm_medium=full_rss&utm_source=rss_feed

[5] XRP Price To $5 Still On The Table But Early Buyers Are ... , CoinCentral, https://coincentral.com/xrp-price-prediction-xrp-price-to-5-still-on-the-table-but-early-buyers-are-betting-big-on-this-ethereum-alternative/

[7] XRP Breaks $3 With $33M Traded in a Minute. Here's What ... , Crypto, https://cryptoadventure.com/xrp-breaks-3-with-33m-traded-in-a-minute-heres-what-analysis-predicts-next/

[8] Bitcoin, Ethereum, XRP, and other major cryptocurrencies have experienced significant price fluctuations in recent weeks, reflecting a turbulent period for the crypto market. While some indicators suggest short-term volatility, others hint at potential recovery or long-term growth for certain assets. https://36crypto.com/

[11] Montana Rejects Bitcoin (BTC) Reserve Bill, CryptoDnes EN, https://cryptodnes.bg/en/tag/bitcoin/page/26/