Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
The cryptocurrency market experienced notable downturns on July 1, following Bitcoin’s record monthly close the previous day amid ongoing institutional and corporate accumulation.
Bitcoin (BTC) succeeded in staying above the $105,000 mark, yet altcoins faced substantial declines, with several recording double-digit percentage losses for the day.
Bitcoin decreased by nearly 2% to a low of $105,182, while its daily trading volume increased by 5.2% to $44.96 billion, suggesting sustained activity despite the price drop. The leading cryptocurrency was trading at $105,700 but remains at risk of further declines if the recovery loses momentum.
Ethereum (ETH) performed relatively better than the average, declining 3.8% for the day to a low of $2,393, while other significant tokens like Solana (SOL) and Cardano (ADA) experienced losses exceeding 7%, reflecting broader market weakness. The total crypto market capitalization fell by 2.5% to $3.25 trillion.
In the last 24 hours, around 99,016 traders faced liquidation, with total liquidations amounting to $243.49 million. Long positions constituted $207.14 million, while shorts accounted for $36.36 million, according to Coinglass data.
Bitcoin recorded the highest liquidations at $57.93 million, followed by Ethereum at $33.04 million.
Related Posts
Wider economic uncertainty continues to impact market sentiment. Ongoing inflationary pressures persist despite previous rate hikes, raising concerns that the Federal Reserve may keep borrowing costs elevated for a longer duration than initially anticipated.
Additionally, geopolitical tensions, particularly the approaching July 9 tariff deadline, have heightened investor caution, with fears regarding global supply chain disruptions and energy security affecting overall market confidence.
The US Senate also approved President Donald Trump’s “Big Beautiful Bill,” but the final draft omitted the crypto tax amendments, further intensifying negative sentiment in the market.
Traditional markets displayed mixed outcomes, with the Nasdaq and S&P 500 slightly declining while the Dow Jones Industrial Average increased by 1%.
Bitcoin’s relative stability amid these declines highlights its status as the leading digital asset, although its inability to surpass critical resistance levels has led some traders to secure profits, contributing to market pressure.
Investors are now looking forward to upcoming US labor market data later this week, which could affect the Federal Reserve’s policy direction and set the tone for risk assets in the near future.
The post Bitcoin dips to $105k on Q3 open despite record monthly close appeared first on CryptoSlate.
