A broad sell-off sees Bitcoin drop to $115,354, with significant losses across major altcoins amid renewed tariff concerns and macroeconomic pressures.
The crypto market faced a significant sell-off on August 1, with total market capitalization decreasing by 6.6% to $3.8 trillion. Bitcoin fell 2.4% to $115,354, while Ethereum declined 4.1% to $3,702. Other altcoins, including Solana, XRP, and Cardano, also experienced losses of around 5%. The decline is attributed to renewed macroeconomic pressures, including a longer outlook for high interest rates and new U.S. tariffs impacting global supply chains. Over $629 million in crypto holdings were liquidated, indicating increased market volatility.