Bitcoin drops 5% to $115K in one week. Here's why

Bitcoin dropped nearly 5% to $115K in one week, reflecting a consolidation phase after surging to an all-time high of $124K on Wednesday.

The cryptocurrency reached the level of $115,500. At 10:16 AM IST, the world’s largest cryptocurrency was down by 2.02% over the past 24 hours. In the last seven days, it declined 5.08%.

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According to data from CoinMarketCap, the crypto sector's overall market capitalisation was at $3.9 trillion.

“Bitcoin has dropped 5% on the weekly timeframe and is likely to test key support at $115,000. With gold and silver likely to rally, Bitcoin and key altcoins may have a troubled week ahead after US PPI data reignited macro concerns last week,” said Vikram Subburaj, CEO at Giottus.com.

Ethereum

Ethereum was recorded at the level of $4,340, and in the past 24 hours, it has gone down by 3.12%. While Ethereum has held on the weekly, it has gone down 10% from its recent high. Investors are advised to wait for the correction to end before deploying new capital into altcoins, Subburaj said.

Subburaj also noted that Ethereum mirrored Bitcoin’s strength, and surged to $4,784, about $100 from its all-time high, driven by heavy institutional flows. The $4,600 level now acts as critical support for a push into price discovery. Broader altcoin sentiment followed suit, with Cardano gaining 15% and BNB inching closer to its high, reinforcing the narrative of deepening alt inflows.

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Here is what experts say

Parth Srivastava, Head of Quant, 9Point Capital’s Research Team

Bitcoin’s current pullback reflects a healthy consolidation after recent highs, allowing the market to reset without breaking its bullish structure. From 9PC’s desk, underlying momentum and on-chain metrics remain supportive, with strong bid interest and resilient inflows positioning BTC for a potential renewed leg higher once consolidation runs its course.

CoinSwitch Markets Desk

BTC has seen high volatility over the past two days, slipping from levels above $123K to test lows near $115K. The decline began with persistent selling pressure that dragged prices below $121K and $119K. Although BTC briefly recovered toward $118,900, the move lacked strength and sellers quickly regained control, driving the price lower. Since Friday, ETH has dropped about 7% and is now trading near the $4,300 level.

Japan’s FSA is set to approve yen-denominated stablecoins as early as this fall, paving the way for the country’s first domestically issued fiat-backed digital currency. Meanwhile, Gemini has filed with the U.S. SEC to list its Class A common stock on Nasdaq under the ticker GEMI, signaling the exchange’s push into public markets.