Bitcoin’s price action over the past week has been characterized by heightened volatility, dipping below $115,000 after a sharp weekend drawdown that erased gains above $121,000. The decline triggered over $1 billion in liquidations on leveraged long positions, reflecting the heightened leverage sensitivity in futures markets. Despite this setback, the leading cryptocurrency managed to stabilize near $114,200 during Asian trading sessions, with intraday ranges narrowing as market participants awaited fresh catalysts.
In contrast, Solana and Dogecoin outperformed under the same risk-off backdrop. SOL price retraced roughly 20% from weekly highs but displayed stronger support at its 7-day moving average around $165. DOGE held above $0.20, buoyed by ongoing meme-driven speculation and emerging use cases in Web3 integrations. Analysts at LVRG Research cited structural adoption trends and community-driven liquidity as key factors underpinning altcoin resilience amid broader crypto market sell-pressure.
Macro headwinds have weighed heavily on risk assets, including digital currencies. President Trump’s recent tariff announcements fueled concerns about renewed inflationary pressures and potential Fed policy delays, prompting a flight to safety. Additionally, Friday’s U.S. jobs data fell short of forecasts, reinforcing caution around rate-cut expectations. Amid these uncertainties, outflows from spot Bitcoin and Ether ETFs intensified, marking the second-largest withdrawal days since mid-2025 and amplifying downward pressure on prices.
Despite the negative tone, some trading desks view the decline as a healthy market correction. Technical models show that Bitcoin remains above the 100-day moving average, and put-call ratios have normalized from extreme bearish readings. Futures basis remains shallow, suggesting that derivatives markets are not fully pricing in a deepening bear move. Looking forward, inputs including ETF flow data, upcoming U.S. inflation prints and geopolitical developments will determine whether consolidation runs its course or devolves into a prolonged downtrend.
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