How Low Can the Crypto Market Crash After Breaking Support
The crypto market is under heavy selling pressure, shedding 3.42% in the past 24 hours and slipping below key support levels.
Total market capitalization has broken under $3.65 trillion, while Bitcoin fell through the $115K mark — a move that triggered $828 million in liquidations, with $753 million coming from long positions.
Weak U.S. jobs data showing just 73K new hires, paired with Trump’s fresh tariff threats on Chinese goods, has rattled risk sentiment. Crypto-related equities deepened the pain — Coinbase dropped 8%, while major miners fell up to 16%.
Technical charts point to potential further declines. For Bitcoin, a failure to hold $113,900 could open the door to $110K and even $108K. For the total market cap, a deeper slide toward $3.58 trillion is possible if buyers don’t reclaim $3.73 trillion quickly.
With spot Bitcoin ETFs seeing $133M in outflows and leverage still elevated, the market remains vulnerable. The next major tests come with the Fed’s August 7 comments and August 12 CPI data — both could decide whether this correction stops here or accelerates.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
