Bitcoin’s plunge to $96,600, its lowest since May, reflects mounting market stress from slowing ETF inflows, institutional selling, and weakening liquidity across major cryptocurrencies.
Bitcoin dropped below the psychological $100,000 level, sliding to $96,600 in early Asian trading, its lowest since May. The decline followed a global risk-off shift, triggered by U.S. tech stock reversals and diminished institutional confidence. Ether fell to $3,182, XRP to $2.25, and Solana dropped 16.5% weekly to $140. ETF inflows slowed for a second week, long-term holders increased selling, and retail demand remained subdued. Analysts identified $93,000–$95,000 as near-term support, with deeper downside risk toward $89,600. The downturn has erased Bitcoin’s 30% gain earlier this year, reversing optimism from the Trump administration’s pro-crypto stance. Market conditions remain fragile, with traders awaiting macro catalysts such as the upcoming FOMC minutes.