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Bitcoin Slides to $115K as Dow Jones' Rally Stalls at December-January High
The broader cryptocurrency market, including ether and solana, also experienced losses of 2% to 3%.
Updated Jul 25, 2025, 8:29 a.m. Published Jul 25, 2025, 4:48 a.m.
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What to know:
- Bitcoin's price dropped over 2.5% early Friday, reaching its lowest level since July 10.
- The broader cryptocurrency market, including ether and solana, also experienced losses of 2% to 3%.
- The Dow Jones Industrial Average held key resistance on Thursday.
Bitcoin's price dropped early Friday, marking a bearish resolution to the recent range play as the U.S. equity markets showed signs of an uptrend exhaustion at key price resistance.
The leading cryptocurrency by market value slipped over 2.5% to $115,170, hitting the lowest since July 10, according to CoinDesk. The move marked the downside break of the recent consolidation between $116,000 and $120,000.
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The so-called range breakdown follows bearish hints from key technical indicators and has increased the possibility of prices revisiting the former resistance-turned-support at $111,956, the high clocked in May.
The broader cryptocurrency market wilted, with ether (ETH), Solana (SOL), and XRP (XRP) losing 2% to 3%. The CoinDesk 80 index, the broader market gauge, stood at 898 points at press time, representing a 2.6% drop on a 24-hour basis.
Overnight, Wall Street's Dow Jones index fell 0.70% in a sign that sellers were looking to re-establish their dominance at 45,000, the horizontal resistance identified by highs reached in December and January. A potential bearish reversal from here could sour sentiment in the crypto market.
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Bitcoin ETFs hold billions despite price crash, but resilience masks harsh reality
Bitcoin spot ETFs in the United States still hold about $85 billion in assets, despite the BTC price crash.
What to know:
- Bitcoin spot ETFs in the United States still hold about $85 billion in assets, despite the BTC price crash.
- Analyst Markus Thielen argues that this resilience reflects structural ETF ownership dominated by market makers, arbitrage-focused hedge funds and not just long-term holders.
