Cryptocurrency Market Faces Correction as Bitcoin Falls from $107K High
The post Cryptocurrency Market Faces Correction as Bitcoin Falls from $107K High appeared on BitcoinEthereumNews.com.
TLDR Bitcoin dropped to $102,941 after reaching a high of $107,114, falling below the $103,000 threshold $651 million worth of crypto positions were liquidated in 24 hours Ethereum fell 5.08%, making it one of the biggest losers among top cryptocurrencies Despite the drop, Bitcoin’s outlook remains bullish with potential targets of $118k and $135k Dogecoin was the only gainer among top ten cryptocurrencies, up 0.28% Bitcoin experienced a market correction after hitting a new high of $107,114 on Sunday. The world’s largest cryptocurrency is now trading at $102,941, falling below the key $103,000 level. This price action has pulled the entire crypto market down with it. The total crypto market capitalization dropped 2.7% to $3.36 trillion. The sudden price swing led to massive liquidations. Data from CoinGlass shows $651 million worth of positions were liquidated over the past 24 hours as Bitcoin price moved between $107k and $102k. From a technical perspective, Bitcoin swept last week’s high of $105,663 but met strong selling pressure. This caused BTC to drop 4.23% from its new high to a local bottom of $102,579. Market analysts suggest the next support for Bitcoin lies near $101,500, while resistance remains at $105,000. Altcoins Follow Bitcoin’s Lead Ethereum, the second-largest cryptocurrency, was hit harder than Bitcoin. ETH fell 5.08% to $2,359.88, making it one of the day’s biggest losers among top cryptocurrencies. Other major altcoins also followed the downward trend. XRP declined 1.44% to $2.33, Cardano dropped 3.21% to $0.7218, and TRON fell 4.01% to $0.2609. BNB (Binance Coin) is down 1.20% to $636.03, despite its utility as an exchange token. Dogecoin Bucks The Trend Interestingly, Dogecoin was the only gainer among the top ten cryptocurrencies. DOGE is up 0.28% to $0.2174, showing some resilience amid the broader market decline. This small positive move for Dogecoin reflects…
Filed under: News - @ May 19, 2025 11:21 am