The cryptocurrency market turned red on Tuesday as Bitcoin slipped beneath the $104,000 level, triggering a broad sell-off across top altcoins.
The move comes amid mounting market uncertainty and increased investor caution ahead of the U.S. Federal Reserve’s policy update.
Bitcoin Retreats From Recent Highs
Bitcoin (BTC) is currently trading at $103,430, down 3.8% on the day and nearly 5% over the past week. After briefly touching highs above $107,000 in recent sessions, the leading digital asset has now lost key short-term support levels. The decline suggests weakening momentum among buyers, despite favorable macro sentiment earlier this month.
Altcoins Follow BTC’s Lead
The downturn wasn’t isolated to Bitcoin. Ethereum (ETH), the second-largest cryptocurrency, slid 6.4% over the past 24 hours to $2,460, extending its weekly loss to 10.12%. Solana (SOL) also posted a sharp decline, falling 7% to $146.
Ripple’s XRP fell in tandem, down 7.16% on the day to $2.14, despite recent surges in network activity. Binance Coin (BNB) was also hit, retreating 3.5% to $641.
Outlook
With Bitcoin dipping under $104,000 and dragging the wider market lower, attention now turns to macro events such as the Federal Reserve’s FOMC decision. Investors are watching closely for signs of dovish policy shifts, which could provide fresh fuel for a market rebound—or extend the current downtrend.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/itcoin-drops-below-104000-dragging-major-cryptos-down/