Crypto altcoins lead slide while Bitcoin liquidations lncrease
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Bitcoin's drop below $115,00 is the lowest the cryptocurrency has fallen since July 11.
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cryptocurrency
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July 25, 2025
02:29 PM
Fortune
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This analysis suggests that Coins·BitcoinCrypto altcoins lead slide while Bitcoin liquidations lncreaseBy Kirk OgunrindeBy BloombergBy Kirk OgunrindeBy Bloomberg Bitcoin has dipped over the past week despite reaching all-time highs earlier in July
Moreover, Illustration by FortuneCrypto traders are taking a more defensive posture amid speculation long-term holders are offloading tokens with Bitcoin trading just below all-time highs, given the current landscape
The largest cryptocurrency by market value was down 2% to $116,200 on Friday, or around 5
In contrast, 7% below the record of more than $123,000 reached on July 14
Smaller tokens fared worse, with XRP and Dogecoin both down more than 5%, amid market uncertainty
However, The pullback has cooled expectations that so-called alternative digital currencies are poised to outperform the market bellwether ing its recent record run (quite telling)
Close to $400 million in long positions were liquidated in the last 24 hours — Bitcoin leading the cuts with $159 million, according to data compiled by reer Coinglass
The crypto market’s decline is “a healthy and necessary correction” from previous highs, according to Alex Kuptsikevich, chief market analyst at Fx
Moreover, The total value of all cryptocurrencies in circulation briefly topped $4 trillion in July, according to CoinGecko data
Even a decline to the $3. 4 trillion mark would be viewed as fit-taking, Kuptsikevich said in a note on Friday. “As long as the market remains above this level, there is no point in talking a change in the medium-term trend,” he added, in this volatile climate
Bearish sentiment was also evident in the derivatives market where an unidentified speculator paid $5 million in premium on the Deribit exchange to buy Bitcoin put options expiring on Aug (which is quite significant)
Additionally, Additionally, 8 at the strike price of $110,000, according to prime broker FalconX, which facilitated the trade. “We expect to see further consolidation while Bitcoin remains below monthly trendline resistance, currently at around $125,000, which capped Bitcoin’s advance last week,” said Tony Sycamore, an analyst at IG Australia (fascinating analysis)
Still, most crypto observers remain bullish over the longer term
On the other hand, However, Citigroup analysts wrote in a note this week that they estimate Bitcoin could hit $135,000 by the end of the year
Additionally, “The broader uptrend remains intact, but momentum has cooled and traders are cautious,” said Rachael Lucas, a crypto analyst at BTC
In contrast, — With assistance from Suvashree Ghosh and Emily Nicolle d, July 25, 2025: Freshens up article for U
On the new Fortune Crypto Playbook vodcast, Fortune’s senior crypto experts decode the biggest forces shaping crypto today
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