Haciyev Reşit 
At the start of the week, selling pressure intensified in the cryptocurrency market. The total market capitalization dropped by $106 billion, falling to $3.42 trillion, while Bitcoin slipped below $105,000. Analysts link this decline to weakening global investor sentiment and accelerated capital outflows from risk assets.
Overall Market Decline
In the past 24 hours, the crypto market’s total capitalization has fallen by $106 billion, now standing at $3.42 trillion. This pullback followed the market’s failure to break the $3.56 trillion resistance level, as investors adopted a more cautious stance. Analysts suggest that while the current movement may represent a short-term correction, a drop below $3.31 trillion could deepen the selling pressure.
If sentiment recovers and new institutional inflows emerge, the total market value could rebound above $3.49 trillion, potentially retesting the $3.56 trillion resistance zone.
Bitcoin Struggles Below $105,000
Bitcoin (BTC) began the week under selling pressure, losing its $105,000 support level and retreating to $103,220. Current technical indicators show a strong support base near $101,477. However, if this level is breached, the price could slide further downward. Analysts note that regaining the $105,000 level could help Bitcoin break its short-term downtrend and target a recovery toward $108,000.
Altcoins Face Heavy Selling Pressure
The altcoin market has also been hit by widespread selling amid Bitcoin’s decline. Short-term profit-taking and lower trading volumes have been observed across the board. Highly volatile projects experienced sharper pullbacks, with several major altcoins losing between 5% and 12% in the past 24 hours.
As risk aversion rises, DeFi and layer-1 projects are facing intensified sell-offs. Analysts attribute this mostly to declining risk appetite in global markets.
Technical indicators show that many altcoins are approaching critical support zones if weakness continues, these levels could be broken, triggering a deeper short-term downtrend. However, renewed buying interest could spark limited recovery attempts in major projects.
Short-Term Correction or Start of a New Trend?
The current market correction is driven by a combination of technical and macroeconomic factors. As long as Bitcoin holds the $101,000 support, there remains a chance for an upward rebound. A decisive break below this level, however, could accelerate the sell-off.
In the short term, all eyes are on whether Bitcoin can reclaim the $105,000 threshold, which is seen as a critical pivot point that may determine the overall direction of the crypto market in the days ahead.
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