Drastic Drop in Bitcoin (BTC) and Altcoin Prices, What Happened?

Updated

May 20, 2025

Gambar Drastic Drop in Bitcoin (BTC) and Altcoin Prices, What Happened?

Jakarta, Pintu News – The crypto market experienced significant turmoil this weekend, with Bitcoin reaching a new peak before going into freefall, dragging Ethereum , Ripple , and Dogecoin with it. This article will explain the dynamics behind this price drop and what might happen next.

Why is Bitcoin (BTC) Price Plummeting?

Bitcoin (BTC) briefly touched last week’s high of $105,663 before facing strong selling pressure that pushed the price down by 4.23% to $102,579. This drop came after Bitcoin (BTC) reached a new high of $107,114 on the Binance platform.

This drop indicates that there is increased selling activity at high prices, which may be due to investors taking profits. This selling pressure not only affects Bitcoin (BTC) but also creates uncertainty in the market. Although Bitcoin (BTC) price predictions are still bullish, investors are advised to be cautious. The volatility of Bitcoin (BTC) hitting a 10-month low adds to the complexity of making investment decisions.

Also Read: Top 5 Blockchains with the Largest TVL: Ethereum’s Dominance and Solana’s Rise!

Impact on Ethereum (ETH), Ripple (XRP), and Dogecoin (DOGE)

The high correlation between Bitcoin (BTC) and other altcoins such as Ethereum (ETH), Ripple (XRP), and Dogecoin (DOGE) explains why Bitcoin’s (BTC) price drop has a domino effect. Ethereum (ETH) has decreased by 8.76% in the last 13 hours, while Ripple (XRP) lost 5.31% of its value. Dogecoin (DOGE) hasn’t escaped this impact either, with a drop of 9.11%.

This drop shows how sensitive altcoins are to Bitcoin (BTC) price movements. Investors in the altcoin market should be aware of this risk, especially when Bitcoin (BTC) experiences high volatility. This situation emphasizes the importance of portfolio diversification and the use of effective risk management strategies.

Bitcoin (BTC) Price Outlook Going Forward

Despite the recent decline, the long-term outlook for Bitcoin (BTC) is still positive. Technical analysis suggests that Bitcoin (BTC) may try to find support in the $101,000 range, which is a key support level. If the selling pressure continues, the price could drop to the range of $100,300 to $99,800.

However, if Bitcoin (BTC) can stabilize in this area, it could be the basis for further price increases. The next possible price targets are $118,000 and $135,000, which would mark a new record high. Investors should monitor market indicators and current news to make informed investment decisions.

Conclusion

The recent price drops in Bitcoin (BTC) and altcoins are a reminder of the inherent volatility in the crypto market. While the long-term outlook remains bullish, investors should remain vigilant and not rush into making investment decisions. With a cautious and strategic approach, investors can capitalize on market fluctuations for long-term gains.

Also Read: Will Dogecoin (DOGE) Break $0.25? Check out the Analysis!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.