Synopsis: Crypto markets plunged as Bitcoin fell below $100,000 and major altcoins like ETH, SOL, and ADA dropped 8–16%, signaling broader risk aversion and weakening institutional support.
The cryptocurrency market is facing a tough week as major coins like Bitcoin, Ether, XRP, Solana, and Cardano have plunged sharply. Bitcoin fell below the $100,000 psychological mark to around $96,600, reaching its lowest level since May.
This drop reflects a broader sell-off caused by a mix of global market risk aversion, fading institutional interest, and technical breakdowns. For crypto bulls, this recent weakness prompts the question: what happens next?
Bitcoin Takes a Beating
Bitcoin’s slide below $100,000 broke a key support level at the monthly mid-range of $100,266. This opened the door for a rapid descent into thinner trading areas, with near-term support now expected between $93,000 to $95,000.
If those levels fail, the door might open for a deeper test near $89,600, a critical liquidity gap. The breakdown coincides with a broader market sell-off triggered by sharp reversals in U.S. tech stocks and reduced conviction from institutional investors. Bitcoin’s price has erased all gains made earlier this year, sliding from a peak of over $126,000 in October to under $95,000 currently. This shows how quickly enthusiasm cooled after unexpected tariff comments from President Trump rattled markets.
Altcoins Suffer Even More
Major altcoins did not escape the sell-off, with steep weekly losses making the scene bleaker for crypto bulls. Ether fell 12% to around $3,182, while XRP dropped 8.8% to $2.25. Solana took one of the hardest hits, plunging 16.5% to nearly $140. Cardano also slid 10%, trading near $0.491, and Dogecoin and Tron also mirrored the weakness.
These declines happened amid slowing ETF inflows, accelerating sales by long-term holders, and subdued retail interest. According to research firm 10x, this combination indicates the market is now firmly in a bear phase, lacking structural support from big institutional flows and fund issuance.
Technical Picture and Market Sentiment
Technically, the crypto market faces a tough path forward. Bitcoin’s liquidity shelf break points to more volatile and thinner trading ahead. Resistance lies at $100,200 and then $107,300, prices repeatedly rejected in recent weeks. Market liquidity continues to fall with no solid signs of stabilization.
Experts note that Bitcoin’s ability to hold around $92,000 next week will depend heavily on whether the Federal Reserve’s upcoming minutes signal a more dovish stance. ETF outflows and a developing death-cross (a bearish technical pattern) push momentum down. Meanwhile, the ongoing government shutdown in the U.S. limits macroeconomic data, adding uncertainty and potential volatility.
Caution, but Not Despair
The consensus among experts is that this dip is more a “healthy reset” than a fundamental collapse. Institutional flows remain positive overall, with leading ETF providers like BlackRock and Fidelity continuing to accumulate crypto assets.
Cycle theories suggest we could see new all-time highs as late as 2026, with Bitcoin potentially rallying back to $120,000 or higher by year-end. Altcoins may benefit if DeFi activity rebounds, and investors seeing this as a capitulation phase might consider stacking positions at these lower levels. However, caution is vital since failure to hold support around $93,000 could lead to sharper declines toward $77,000.
In the meantime, subdued trading is expected to continue unless there is a major macroeconomic catalyst. Crypto traders should watch key support levels, carefully manage risk, and prepare for volatility in the coming weeks. The recent pullback wipes away earlier gains but doesn’t erase the longer-term promise many still see in digital assets.
This brief-sized, volatile sell-down serves as a moment of reflection for bulls and risk-averse investors alike. It highlights how crypto markets remain sensitive to broader financial shifts while offering potential buying opportunities during temporary weakness.
Written By Fazal Ul Vahab C H