Bitcoin Drops Below $117K After $15K Rally - Altcoins Follow With Sharp Losses

After a strong five-day rally that added around $15,000 to Bitcoin’s value, the market has turned. Bitcoin dropped over $6,000 from its all-time high reached just yesterday, falling below $117,000 earlier today.

Less than a week ago, BTC was consolidating between $105,000 and $110,000. The breakout began midweek, pushing the price past $112,000 and later to nearly $119,000 by Friday. After a relatively quiet weekend, bulls pushed Bitcoin past $120,000 on Monday, reaching a new high above $123,000.

Despite the momentum, signs of weakness began to appear. The rally stalled, and Bitcoin started to pull back. It has now settled below $117,000, with its market cap down to $2.32 trillion and dominance holding at 62.1%.

Altcoins have mirrored the move. Dogecoin is down nearly 7% to around $0.19. Losses across the board include BNB, SOL, HYPE, BCH, SHIB, LINK, and HBAR, with some dropping as much as 5.5%. Ethereum has dipped below $3,000, and XRP is now near $2.90.

The total crypto market cap has dropped by about $150 billion from its recent peak, now sitting under $3.75 trillion.