The cryptocurrency market faced renewed turbulence as Bitcoin fell sharply to around 121,000 dollars following the opening of U.S. markets. This decline, driven by persistent macroeconomic uncertainty and concerns over a potential government shutdown, triggered wider losses among altcoins, with tokens like XRP, XPL, and NEAR suffering sharper drops.
Within the first hour of trading, Bitcoin slipped from 121,255 dollars, intensifying selling pressure and sparking caution across the market. Analysts noted that Bitcoin closed three consecutive 15-minute candles in the red, breaking key support levels for altcoins. While such short-term volatility is not unusual, extended weakness could lead to further sell-offs if stabilization does not occur soon.
Analyst Sherpa suggested that XPL may be nearing the end of its decline within a defined zone but warned against buying during downward momentum, recommending patience until a clear recovery forms. Meanwhile, XRP has fallen to a critical support level around 2.8 dollars. According to analyst Ali Martinez, if the 2.73 dollar level holds, a rebound toward 3.1 dollars is possible. However, trader Peter Brandt warned that a break below 2.6 dollars could push XRP down to 2.22 dollars, especially if Bitcoin continues dropping toward 110,000 dollars.
In the broader altcoin market, NEAR has shown steady accumulation throughout 2025, signaling investor interest despite current weakness. Analyst Michael Poppe noted that resistance remains between 3.25 and 3.50 dollars, and a breakout above this range could trigger a substantial rally. He also expressed concern over the ETH/BTC pair’s stagnation, indicating that Bitcoin may continue to dominate the market in the short term.
As traders navigate this volatile phase, the coming sessions will reveal whether Bitcoin can regain upward momentum or if altcoins are set for deeper corrections amid ongoing global uncertainty.