Bitcoin Slides Under $110K as Ether Drops 8% Amid Crypto Pullback
Bitcoin slipped below $110,000 on Monday after a failed recovery attempt returned its price to levels last seen before President Trump’s inauguration. The largest cryptocurrency fell 2.7% over 24 hours, trading around $109,700, down more than 11% from its record high set less than two weeks ago. Ethereum also plunged nearly 8%, dipping below $4,400. Leading altcoins including Solana (SOL), Dogecoin (DOGE), Cardano (ADA) and Chainlink (LINK) registered losses between 6% and 8%. The sell-off triggered roughly $700 million in crypto derivatives liquidations, with $627 million from long positions. Weak seasonality ahead of September—the historically weakest month for Bitcoin and Ether—may further dampen market sentiment. Traders will watch key support levels and monitor any macroeconomic or regulatory developments as volatility persists.
Bearish
The sharp retreat in Bitcoin and Ether signals a bearish market phase. The failure to hold a recovery above $113,000 for Bitcoin and under-$4,400 level for Ether echoes past pullbacks after euphoric rallies, such as post-Jackson Hole reversals. The roughly $700 million in liquidations—dominated by long positions—underscores traders’ overleveraged bets and heightens near-term risk. Weak seasonality entering September, historically the worst month for crypto returns, adds further downward pressure. In the short term, volatility is likely to remain elevated as traders assess support levels near $108,000 for BTC and $4,200 for ETH. Longer term, sentiment may stabilize if broader macro indicators improve or if meaningful regulatory clarity emerges. However, until key price floors hold and fresh buying catalysts appear, the market outlook remains bearish.