Bitcoin (BTC) slipped over 2.5% to $115,170 early Friday, breaking below its short-term range and dragging the broader crypto market lower — just as the Dow Jones Industrial Average approached a critical resistance level.
BTC Breaks Below $116K–$120K Range
After nearly two weeks of sideways action, Bitcoin confirmed a bearish breakdown, sliding below its $116,000–$120,000 consolidation zone. The decline marks the lowest BTC price since July 10, signaling weakness in bullish momentum.
Technical indicators suggest a potential revisit to the $111,956 level — a May high that now acts as possible support.
This drop comes amid rising uncertainty in macro markets and a slight stalling in U.S. equity performance.
ETH, SOL, XRP Also Decline 2%–3%
The bearish sentiment wasn’t limited to Bitcoin. Ether (ETH), Solana (SOL), and XRP followed suit, each declining between 2% and 3% in the last 24 hours.
The synchronized selloff highlights broader risk-off sentiment across digital assets.
Dow Jones Rally Stalls at Key Resistance
Adding to market jitters, the Dow Jones Industrial Average dipped 0.70% overnight, signaling exhaustion as the index approached the 45,000 level — a horizontal resistance aligned with December and January highs.
Failure to break through this wall may confirm a reversal, further dampening appetite for risk-on assets like cryptocurrencies.
Investors are watching this level closely as a pullback in equities often spills over into digital assets, especially amid fragile sentiment following Bitcoin’s breakdown.
What Comes Next for Bitcoin?
If downside pressure continues, Bitcoin could retest the $112K zone, now acting as a pivot from earlier this year. A deeper drop might open the door to the psychological $110K support.
However, if bulls regain control and reclaim $116K+, the current dip may prove to be a shakeout before a stronger move.
With macro and technical pressures mounting, traders should brace for heightened volatility heading into next week — especially as U.S. economic data and Fed commentary come into play.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.