DeutschThe king of cryptocurrencies has shaken significantly in the last 24 hours: Bitcoin lost 2.56 percent in value and temporarily fell below the $114,500 mark. According to CoinMarketCap data, the digital currency is currently trading at $114,900 – leaving many investors puzzled.
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Just two weeks ago, the world looked very different: On July 14, Bitcoin cracked the $123,000 mark and set a new all-time high. Euphoria, fantasy, records – but the high was not to last.
Bitcoin Price Crashes below $115,000 – What’s Going on?
Because while crypto investors were still happy about the price jumps, new US tariffs came into focus in the markets. Economic policy from Washington exerted massive pressure on global financial centers – and thus also on Bitcoin. The price began to crumble. But not only geopolitical factors play a role. According to on-chain analyses by CryptoQuant, one of the largest profit-taking events of the current upward movement occurred in recent days. The numbers are clear: $6 to $8 billion in realized profits were recorded in July.
- Bitcoin
(BTC) - Price $116,776.00
- Market Cap
$2.32 T
Who is selling? The answer is surprising: Not the established “old” Bitcoin giants, but new market players – so-called “new whales” – are said to have triggered the recent selling pressure. These had accumulated massive amounts of BTC in the last five months and are now getting out – with a decent profit in their pockets. The behavior follows a well-known pattern: Large profit-taking often leads to a consolidation phase that can last several weeks to months. This has also been the case in the past – most recently in March and December 2024.
Can the BTC Price Still Set New Records?
In addition: US investors are also showing more restraint at the moment. The risky markets seem less attractive in view of global uncertainties. According to the current CryptoQuant report, there are increasing signs that the market must prepare for a quieter phase – at least for the time being.
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But not everyone sees things negatively. James Toledano, COO of Unity Wallet, tells “Cryptonews”: “In the short term, the Bitcoin price could move sideways as the markets try to process the macroeconomic signals. However, should inflation pick up again or fresh capital flow in from institutional investors, Bitcoin could not only reach its all-time high again, but even set new records.”
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CryptoQuant is also fundamentally optimistic. According to the analysis, the probability that the market will soon stabilize is increasing – and then could take another run at the $120,000 mark. Until then, it means: grit your teeth, stay calm – and closely observe the next step of the “new whales”. Because anyone who gets out of the crypto world too early often misses the next big thing.(mck)
