Why the Crypto Market Plummeted Today?

Jakarta, Pintu News – The total market capitalization of crypto (TOTAL) and Bitcoin (BTC) recorded declines today, with BTC dropping to $115,500 as overall market conditions deteriorated.

Meanwhile, altcoins actually performed quite well, moving in the opposite direction to BTC, led by Chainlink (LINK) whose price rose by 9%.

Crypto Market Still in the Red

According to BeInCrypto (18/8/25), the total crypto market capitalization fell by $71 billion in the last 24 hours, dropping to $3.85 trillion.

Read also: Bitcoin Price Plummets to $115K Today (August 18) as Spot BTC ETFs Take Center Stage

This decline was triggered by the uncertainty that arose after the Trump-Putin meeting in Alaska, which led to risk-averse sentiment. This shows how sensitive the market is to geopolitical events that affect investor confidence in digital assets.

Currently, TOTAL looks vulnerable to further declines, with downside risk towards $3.81 trillion. Bitcoin’s weakness has triggered broader market weakness, pulling altcoins down with it.

If market conditions improve, TOTAL could potentially return to the $3.89 trillion support level. This recovery could provide the impetus for a move towards $4.01 trillion, signaling renewed optimism.

Such a move would ease investor concerns and strengthen confidence in the market.

Bitcoin Loses Support Again

Bitcoin price has dropped in the last 24 hours, trading at $115,409 at the time of reporting. Even so, the crypto king is still holding above the crucial $115,000 support level.

The Relative Strength Index (RSI) fell below the neutral 50 mark, signaling that the bullish momentum was fading. This change indicates increasing bearish sentiment in the market.

If the selling pressure continues, Bitcoin risks dropping towards the $112,256 support level, signaling potential deeper losses and a near-term weakening of investor confidence in BTC.

Conversely, if Bitcoin manages to rebound from the $115,000 support, it could rally again. A successful surge could allow BTC to retest $117,261, and if it breaks it, this level could turn into support.

This scenario opens up opportunities for a move towards $120,000, strengthening optimism among traders.

Chainlink Strengthens in 24 Hours

Chainlink managed to buck the Bitcoin downtrend, becoming one of the best performing assets with a 9% gain. At the time of writing, LINK is trading at $24.65, showing strong momentum. This movement highlights investors’ confidence in the resilience of this altcoin.

Read also: Ethereum Price Drops to $4,300 Amid Whale Buying: Is $5,800 the Next Target?

The Parabolic SAR indicator is currently below the LINK candlestick, confirming an active uptrend. This bullish signal indicates that the upward momentum is still maintained.

If the buying pressure continues, Chainlink could potentially break $26.73 and continue its rally towards $30.00, reinforcing market optimism.

However, if selling pressure increases, LINK risks losing ground. A drop could push the price to the $22.63 support level, and if further breakdowns occur, the price could drop to $19.88 or lower.

Such a move would invalidate the bullish outlook and shift trader sentiment towards caution.

That’s the latest information about crypto. Follow us on Google News to get the latest information about the world of crypto and blockchain technology. Check today‘ s bitcoin price, today’s solana price, pepe coin and other crypto asset prices through Pintu Market.

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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 have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Why is The Crypto Market Down Today? Accessed on August 18, 2025