Bitcoin will immerse it to $105,000 at Q3 Open despite monthly records

Crypto Market saw a significant drop on July 1st despite the monthly end of Bitcoin records amid ongoing institutional and corporate accumulation.

Bitcoin (BTC) managed to maintain scaffolding of over $105,000, but Altcoins experienced a dramatic decline, recording a double-digit percentage loss that day.

Bitcoin fell nearly 2% to a low of $105,182, but daily trading volume rose 5.2% to $449.6 billion, indicating continued activity even as prices fall. The flagship cipher was traded for $105,700, but it is at risk for even more downsides if the recovery loses steam.

Also, Ethereum (ETH) is better than average, sliding 3.8% a day to $2,393, while other major tokens, such as Solana (SOL) and Cardano (ADA), have recorded losses of over 7%, reflecting market weaknesses. Overall crypto market value fell 2.5% to $3.25 trillion.

Over the past 24 hours, approximately 99,016 traders have been liquidated, bringing the total liquidation to $243.49 million. The long position accounted for $27.14 million, while the shorts represented $36.36 million based on coin glass data.

Bitcoin saw its highest liquidation at $57.93 million, followed by Ethereum at $33.04 million.

The broader economic uncertainty continues to weigh market sentiments. Continuous inflationary pressures remain despite previous rising interest rates, and encourage concerns that the Federal Reserve could rise longer than previously expected.

Meanwhile, geopolitical tensions, particularly the tariff deadline on July 9, have led to concerns over global supply chain disruption and energy security, affecting the trust of the broader market and paying attention to investors.

The US Senate also passed President Donald Trump’s “big beautiful bill,” but removed the crypto tax amendment from the final draft, further exacerbating negative market sentiment.

The traditional market has shown mixed results. The Nasdaq and S&P 500 were framed, bringing the Dow Jones industrial average up 1%.

The relative stability of Bitcoin in the face of these declines has not broken beyond the main resistance levels, highlighting its position as a dominant digital asset as some traders locked their profits and increased market pressure.

Investors are awaiting data on the upcoming US labor market later this week. This could impact the Federal Reserve policy path and set the tone of risk assets in the coming days.

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