Crypto market drops after hitting new local highs

After surging to $106,000 following the US-China trade truce, Bitcoin is once again under pressure. The flagship cryptocurrency failed to break through a key resistance level and dropped back $102,500, losing over 2% in 24 hours, according to CryptoPotato.

On Thursday, BTC is hovering around the $102,000 level. The web-site’s analysts say this mark is crucial for maintaining the bullish trend. In case of its breakdown, a pullback below $100,000 is possible.

While Bitcoin is showing short-term weakness, its market cap holds steady at $2.02 trillion. Its market dominance has actually climbed to 60% as most altcoins face sharp declines.

Ethereum slid over 3%, while XRP, SOL, DOGE, and ADA saw even steeper losses of 7–8%.

The total crypto market cap shed $100 billion in 24 hours, now standing at $3.4 trillion. Despite this temporary drop, CryptoPotato’s analysts believe Bitcoin's mid-term outlook remains positive as long as it holds above the $100,000 level.