Bitcoin Falls Below $100K As Altcoins Plunge

The price of Bitcoin dropped below $100,000 on January 27, 2025, as traders took profits following a recent rally, with altcoins like Solana and Dogecoin also experiencing sharp declines.

Bitcoin, the world’s most valuable cryptocurrency, dipped below the $100,000 mark on January 27, following profit-taking after a recent surge. The drop, which saw Bitcoin fall 5.4% to $99,359, was accompanied by sharper losses in altcoins like Solana, Dogecoin, and Cardano.

Analysts attribute the decline to a mix of cautious investor sentiment and external economic factors, including U.S. interest rate policies.

According to Avinash Shekhar, CEO of Pi42, Bitcoin’s price fluctuations reflect an ongoing struggle between bullish and bearish investors. While long-term holders remain optimistic, short-term traders are cautious due to high trading volumes and recent liquidations. Ryan Lee, Chief Analyst at Bitget Research, added that market sentiment is mixed, with technical indicators pointing to investor indecision.

The global cryptocurrency market also felt the impact, with Ethereum dropping 6% to $3,144. Other altcoins experienced significant losses, including Solana (-9.9%), Dogecoin (-9.3%), Cardano (-8.2%), and Shiba Inu (-9%). The total cryptocurrency market cap decreased by 5.4% to $3.42 trillion, with stablecoins accounting for 89.57% of the 24-hour trading volume.

Broader economic factors, including the upcoming U.S. Federal Reserve meeting, are expected to contribute to further volatility. Bitcoin’s dominance in the market fell slightly to 58.12%, with trading volume surging 88.2% in the last 24 hours.

Despite the current market slump, experts remain divided on the long-term outlook for cryptocurrencies, with many emphasizing the need for cautious optimism as regulatory developments and global economic trends unfold.
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