The cryptocurrency market is reeling today as Bitcoin plunges 1.75% below $116,000 amid growing macroeconomic concerns. This sudden drop has sent shockwaves through the crypto space, with major altcoins following Bitcoin’s downward trajectory.
Why is the crypto market sliding today?
The current market downturn appears driven by several key factors:
- Declining U.S. stock futures creating risk-off sentiment
- Potential policy changes under former President Trump
- Negative Bitcoin Coinbase Premium Index for first time since May
- Increased selling pressure with taker buy/sell ratio falling to 0.9
Bitcoin price analysis: How low can it go?
Despite the drop, Bitcoin has shown resilience by holding above $115,000. Key technical indicators suggest:
| Indicator | Status | Implication |
|---|---|---|
| Bollinger Bands | Tightening | Potential breakout coming |
| RSI | Neutral | No extreme oversold condition |
| Support Level | $115,000 | Critical level to watch |
What’s next for cryptocurrency investors?
The market appears to be in a consolidation phase before the next major move. All eyes are on:
- Upcoming FOMC meeting for monetary policy clues
- Institutional activity replacing early Bitcoin holders
- Macroeconomic signals including job market data
FAQs
How much has Bitcoin dropped today?
Bitcoin has fallen 1.75% to $115,730 as of July 31, 2025.
What altcoins are most affected?
Smaller altcoins like BIO (-11.26%) and REZ (-10.42%) have seen double-digit declines.
Is this a good time to buy Bitcoin?
The market shows mixed signals – while there’s selling pressure, key support levels are holding, suggesting underlying strength.
What’s causing the crypto market downturn?
Macroeconomic concerns including potential tariff changes and weaker job data are creating risk-off sentiment.
How are institutions reacting?
Large asset rotations suggest institutions are absorbing downward momentum rather than panic selling.
