Bitcoin Price Dips Below $107K as Crypto Market Loses Momentum

Key Takeaways:

• Bitcoin and Ethereum saw mild losses as markets brace for U.S. inflation data and potential Fed rate shifts.
  
• XRP dropped sharply, but surging volume and global interest in futures signal sustained attention.
  
• Altcoins like Pi Coin, Aptos, and Solana are gaining buzz, with upcoming events and filings offering bullish catalysts.

The broader crypto market saw a mild pullback today, with the global market cap sliding 1.03% to $3.28 trillion. Daily trading volumes also fell significantly by nearly 13% to $97.51 billion, signaling weakening short-term momentum. Bitcoin maintained its dominance at 65%, while Ethereum held 9%, underscoring the leading role of the top two cryptos despite the market retreat.

Bitcoin Price Dips Below $107K Amid Market Uncertainty

Bitcoin (BTC) is trading at $106,981.09 after a 0.97% dip in the past 24 hours. The leading digital asset saw its market cap contract to $2.12 trillion, while its 24-hour volume dropped 19.27% to $41.39 billion. The price oscillated between a low of $106,519.66 and a high of $108,190.55.

Despite the modest downturn, options data suggests the market retains a bullish tone. The maximum pain point stands at $102,000, and a put-to-call ratio of 0.75 indicates that traders are still betting on higher prices in the medium term. Geopolitical stability, such as the U.S.-mediated Israel-Iran ceasefire, had recently boosted confidence—but today’s correction reflects investor caution ahead of key inflation figures and Fed guidance.

Ethereum Drops Below $2,450 But Sentiment Stays Bullish

Ethereum (ETH) also slipped 1.91%, currently priced at $2,444.10. Its market cap now stands at $295.03 billion, with a 16.83% drop in daily trading volume to $16.85 billion. ETH’s intraday movement ranged from $2,386.32 to $2,500.11.

Despite the price dip, Ethereum’s options market remains optimistic. The max pain price is set at $2,200, and the put-to-call ratio of 0.52 suggests traders are leaning bullish. However, short-term caution is prevailing ahead of macroeconomic catalysts.

XRP Slides 4.73% Despite Surge in Trading Volume

XRP was among today’s biggest losers, down 4.73% to $2.08. Its market cap shrank to $123.22 billion, but trading volume surged 23.78% to $3.26 billion—pointing to increasing speculative interest. Intraday prices ranged between $2.08 and $2.20.

The launch of XRP futures has drawn $542M in volume in their first month, with 45% of this activity coming from outside North America. With open interest at $90M, global demand remains robust despite ongoing legal pressures, as Ripple’s case with the SEC continues without a private resolution.

Also Read: Ripple Faces Legal Setback, But XRP ETF Momentum Builds for 2025

Altcoins to Watch: Pi Coin, Solana, and Aptos

Among the standout altcoins, Pi Coin is gaining momentum ahead of the Pi2Day event, where major updates such as a potential mainnet or listing could be announced.
Solana (SOL) remains on investors’ radars due to its strong ecosystem growth.
Aptos (APT) surged 5% intraday, fueled by speculation surrounding a possible ETF filing, which added significant bullish sentiment.

Market Wrap-Up: Liquidations and Sentiment

A total of 89,122 traders were liquidated in the past 24 hours, with $202.17 million in total losses. The largest single liquidation was an ETHUSDT position worth $2.82 million on Binance. The Fear & Greed Index stands neutral at 49, reflecting indecision among market participants.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses