The cryptocurrency market faced a sharp correction today as Bitcoin fell 1.75% below $116,000 amid growing macroeconomic concerns. This Bitcoin news comes as investors grapple with shifting market sentiment and potential policy changes.
Why is the crypto market sliding today?
The July 31 sell-off saw major cryptocurrencies decline across the board:
- Bitcoin dropped to $115,730 (-1.75%)
- Ethereum fell to $3,691 (-3.13%)
- Altcoins like BIO (-11.26%) and REZ (-10.42%) suffered double-digit losses
Key factors behind the Bitcoin price drop
Three main drivers are impacting the crypto market:
- Declining U.S. stock futures
- Potential tariff increases under former President Trump
- Negative Bitcoin Coinbase Premium Index (first time since May 29)
Institutional activity and market structure
Despite the drop, Bitcoin has held above $115,000, suggesting institutional buyers are absorbing selling pressure. Key metrics show:
| Metric | Status | Implication |
|---|---|---|
| Taker buy/sell ratio | 0.9 | Increased selling pressure |
| Futures Cumulative Volume Delta | Negative | Persistent selling |
| Net Realized Profit/Loss | Stable | No panic selling |
What’s next for Bitcoin and crypto markets?
Technical indicators suggest Bitcoin is consolidating, with tightening Bollinger Bands signaling a potential breakout. The upcoming FOMC meeting will likely serve as the next major catalyst for market direction.
FAQs
How much did Bitcoin drop today?
Bitcoin fell 1.75% to $115,730 on July 31.
What caused the crypto market decline?
Macroeconomic concerns including weak U.S. job data and potential tariff changes drove the sell-off.
Is this a good time to buy Bitcoin?
Market indicators suggest consolidation rather than panic, but investors should monitor macroeconomic developments closely.
How are institutions reacting to the drop?
Large buyers appear to be absorbing selling pressure, keeping Bitcoin above $115,000 support.
