Crypto Market Crash: Bitcoin Dips Below $114K as Altcoins Bleed Harder

Crypto Market Overview: Red Dominates

The total crypto market cap has plunged by over 3.2% in the past 24 hours, currently standing at $3.65 trillion. The drop marks a sharp continuation of the downtrend that began in late July. Almost every major altcoin is flashing red, with Bitcoin ($ BTC ) and Ethereum ($ ETH ) dragging the market lower, and several altcoins following suit with deeper losses.

Total Crypto Market Cap Chart Analysis

• The market cap failed to hold the $3.72T support, now turned resistance.
• The 21 EMA is sloping down, showing continued bearish pressure.
• The RSI is deep in oversold territory at 27.18, suggesting a potential relief bounce but confirming the current weakness.
• Volume spikes and aggressive sell-offs hint at institutional unloading.

Outlook: If $3.65T breaks further, the next major support lies near $3.54T. Upside recovery will only start once $3.72T is reclaimed and held.

Bitcoin Chart Analysis: $113K and Dropping?

Bitcoin’s 4H chart paints a similarly bearish picture:

• Price rejected at $118.6K, a major resistance zone highlighted by a horizontal orange line.
• It broke down from the short-term support at $116K, now acting as resistance.
• The 9 and 21 MA cross is bearish, with the 9MA sharply sloping below the 21MA.
• RSI at 29.20 confirms oversold conditions, yet no reversal signals are visible.

Outlook: If BTC doesn’t reclaim $116K soon, the next support rests around $111K–$112K. Only a strong close above $118.6K can reestablish bullish control.

Top 10 Crypto Performance (Excluding Stablecoins)

From the latest data snapshot, here’s how the top 10 non-stablecoin cryptos are performing:

Rank Name Price 24h % 7d % Market Cap

1	Bitcoin	$115,654.77	-2.44%	-0.64%	$2.3T
2	Ethereum	$3,657.06	-4.60%	-1.68%	$441B
3	XRP	$2.99	-4.41%	-4.32%	$177B
5	BNB	$772.62	-3.16%	-0.21%	$107B
6	Solana	$169.25	-5.55%	-6.64%	$91B
8	Dogecoin	$0.2078	-5.93%	-10.30%	$31.2B
9	TRON	$0.3273	-0.15%	+4.00%	$31B
10	Cardano	$0.7292	-6.19%	-10.46%	$25.8B

Key Observations:

• Bitcoin held relatively better than altcoins but remains in a technical downtrend.
• Ethereum continues underperforming BTC, showing a sharper daily decline.
• XRP, ADA, and DOGE are among the worst weekly performers, each dropping over 10%.
• Solana is breaking down after ETF hype cooled, now at -6.64% weekly.
• TRON (TRX) stands out as the only green token over the past 7 days (+4.00%), possibly due to recent ecosystem or regulatory news.

What’s Next?

The market is clearly risk-off. Bitcoin must reclaim $116K–$118K to reverse sentiment. RSI on major assets is deeply oversold, so a technical bounce could occur — but the trend remains down. Altcoins are more vulnerable, especially those with high volatility like ADA and DOGE.

 

$BTC, $ETH, $XRP, $BNB, $SOL, $DOGE, $TRX, $ADA