- Bitcoin slides to $115K, a 5% decrease from its peak.
- Market reflects consolidation, not a structural shift.
- Institutional investors maintain liquidity support at $115K.
Bitcoin recently fell to $115,000, a decrease of 5% from its peak at $124,000, as reported by industry experts amidst macroeconomic concerns impacting the cryptocurrency market.
This decline signals market consolidation rather than panic, with key stakeholders suggesting cautious accumulation amid stable on-chain metrics and prevailing macroeconomic factors.
Bitcoin has recently dropped to $115,000, sliding 5% from an all-time high of $124,000. This decline reflects a consolidation phase rather than a dramatic shift in market sentiment or structural change.
No direct public statements from Bitcoin leadership or major exchange CEOs address this price slide. However, Vikram Subburaj from Giottus.com said the decline aligns with macroeconomic concerns reignited by US PPI data.
The immediate market impact shows Bitcoin maintaining a 59.1% market dominance, with a $2.29 trillion market cap. Ethereum and major altcoins saw declines, while some DeFi tokens like Chainlink surged, reflecting sector-specific resilience.
Macro factors, such as expected rate cuts and US inflation data, contribute to market movements. The absence of regulatory changes or compromises supports the view of a typical post-ATH consolidation phase.
Investor sentiment remains bullish, with 51.36% on Twitter supporting Bitcoin’s current trajectory. Large bid clusters suggest investors are preparing for possible accumulation, indicating strategic positioning rather than a reactionary sell-off.
Historically, Bitcoin demonstrates similar consolidation phases after major price climbs, supporting the current trend. Institutional interest persists, and on-chain metrics remain stable, affirming Bitcoin’s resilience amidst macroeconomic challenges.
“Bitcoin has dropped 5% on the weekly timeframe and is likely to test key support at $115,000… Bitcoin and key altcoins may have a troubled week ahead after US PPI data reignited macro concerns last week,” said Vikram Subburaj, CEO of Giottus.com.
