Weekly Crypto Update: BTC Slips Below $110K

Bitcoin (BTC) faced its sharpest pullback in weeks, dipping under $110,000 for the first time since July, reaching lows around $108,000–$109,000 on August 29–30. This marked a 9–12% decline from its monthly ATH of $124,128. The total crypto market cap fell by 3.87% to $3.75T, while liquidations of over $900M rattled traders. Let’s decode the key reasons for these moves in this weekly crypto update.

The downturn was fueled by a mix of profit-taking, fading rate-cut optimism, and whale activity, with one entity unloading $2.7B in BTC. Technical breakdowns added pressure, with BTC breaching its 100-day SMA and losing support at $112K–$114K. Macro headwinds—rising inflation data, geopolitical tensions, and liquidity concerns—further weighed on sentiment.

Altcoins mirrored the weakness: Ethereum (ETH) dropped 5–8% to around $4,300, while XRP, Solana, and Cardano posted similar losses. Analysts called it a “healthy correction”, aligning with Bitcoin’s historical Redtember patterns, where September pullbacks precede Q4 rebounds.

Key levels to watch: $105K and $100K. A bounce above $110K could renew bullish momentum, especially with institutional interest (e.g., MicroStrategy buys) and Fed easing still in play.

Weekly Crypto Update : Top Gainers 📈

$CAMP (+87%)

• Boosted by Kaito campaign success.
• LayerZero integration attracted new users.

$CRO (+80%)

• Benefited from news of a crypto-treasury tied to Trump Media.
• Speculation fueled sharp inflows.

$PYTH (+45%)

• Partnership with U.S. Department of Commerce to bring data on-chain.
• Major validation for oracle adoption.

$IP (+29%)

• Over $3M in buybacks drove price higher.
• Confidence boost from treasury actions.

$GFAL (+20%)

• Continued hype around Diamond Rings launch.
• Community engagement kept momentum positive.

Weekly Crypto Update : Top Losers 📉

$BIO (–34%)

• Corrected after hitting daily highs.
• Traders locked profits.

$ZORA (–29%)

• Pulled back after 10x rally in 40 days.
• Overheated momentum cooled.

$PALM (–27%)

• Volume dropped after key updates.
• Demand failed to sustain.

$ZBCN (–26%)

• Market-wide correction hit hard.
• Profit-taking at play.

$KTA (–22%)

• Lost critical $1 support level.
• Bearish sentiment deepened.

Closing Thoughts

This weekly crypto update highlights a market reset after August’s euphoric highs. Bitcoin’s dip below $110K rattled sentiment but fits historical pre-September corrections. Ethereum and major altcoins pulled back, while select gainers like $CAMP and $CRO defied the trend with strong catalysts.

Looking ahead, the market’s direction hinges on whether BTC can defend the $105K–$110K range. If it holds, Q4 could see another leg higher; if it fails, deeper corrections are likely before fresh institutional flows return.