Market Opens in a Tailspin! Bitcoin Plunges to $102,000 — Altcoins Tumble Over -10%

Market Opens in a Tailspin!

Bitcoin Plunges to $102,000 — Altcoins Tumble Over -10%

June 13, 2025 — The cryptocurrency market opened Thursday with a sharp selloff, dragging Bitcoin (BTC) down to around $102,000, its lowest level in weeks. Meanwhile, major altcoins such as Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) saw losses exceeding 10% in the past 24 hours.

The decline was driven by a combination of macroeconomic factors and profit-taking pressure following months of gains. Hotter-than-expected U.S. economic data added to market anxiety, prompting traders to pull out of riskier assets.

“Crypto is once again caught in a wave of volatility as investors reprice expectations on Fed rate cuts,” said an analyst from CryptoQuant.

The Altcoin Market Index dropped over 10%, with Ethereum falling below $5,300 and Solana sinking under $145 — triggering widespread liquidations in derivative markets.

⚠️ Key Factors Behind the Crash:

🔺 U.S. Producer Price Index (PPI) came in hotter than forecast, dampening hopes of near-term Fed rate cuts.

💼 Profit-taking after BTC’s prior surge above $110,000.

🧯 Decreasing liquidity in futures markets, with negative funding rates seen across major exchanges.

Market observers are now watching the $100,000 support level for Bitcoin, a key psychological and technical zone. A breakdown below this level could trigger further panic selling, while a strong defense might set the stage for a mid-year rebound.

🔮 Outlook:

Despite the sharp correction, some analysts remain cautiously optimistic. If Bitcoin can stabilize above the $100K mark, they believe the market could recover in the second half of the year.

 

market opens in a tailspin! bitcoin plunges to $102,000 — Altcoins Tumble Over -10%