Bitcoin News Today: Crypto Market Crashes as 98 Top Coins Plunge 5.5% in 24 Hours
The cryptocurrency market is in turmoil today as Bitcoin news highlights a sharp 5.5% drop across 98 of the top 100 coins. With BTC and ETH leading the decline, investors are scrambling to understand the implications of this sudden market shift.
Bitcoin News: Market-Wide Decline Hits Major Cryptos
The crypto market cap fell below $4 trillion, with Bitcoin (BTC) dropping 0.6% to $118,808 and Ethereum (ETH) losing 3.1% to $3,807. The hardest-hit assets included:
- Dogecoin (DOGE): -7.7%
- Sky (SKY): -10.2%
- XRP: -9% weekly (despite 44% monthly gain)
Crypto Market Volatility: What’s Driving the Drop?
Analysts point to several key factors in today’s Bitcoin news:
- BTC’s 30-day volatility at 36% (lowest in 2 weeks)
- ETH showing strength with price-to-BTC ratio doubling since May
- Institutional activity through ETH treasury companies
- Upcoming U.S. economic data creating uncertainty
Altcoin Season Coming? Institutional Signals to Watch
While the crypto market suffers today, some analysts see potential for an altcoin season in Q3 2025. Key indicators include:
Metric | BTC | ETH |
---|---|---|
ETF Inflows (July 28) | $157.03M | 17 days positive |
Support Levels | $117,000 | $4,000 |
Market Sentiment: Fear Creeps In
The fear-and-greed index dropped to 63 as investors grow cautious. With key U.S. economic reports coming, the crypto market’s direction remains uncertain despite institutional interest through ETFs.
FAQs
Q: How much did the crypto market drop today?
A: The total market cap fell 5.5% to $3.97 trillion, with 98 of the top 100 coins declining.
Q: Which cryptocurrencies were hit hardest?
A: Dogecoin (-7.7%) and Sky (-10.2%) saw the steepest declines among major assets.
Q: Is this the start of a bigger crypto crash?
A: Analysts are divided – while volatility is expected to increase, institutional ETF inflows suggest underlying strength.
Q: When might the market recover?
A: Much depends on upcoming U.S. economic data and Federal Reserve decisions in the coming weeks.