Bitcoin Dips Amid Trump-Zelenskyy High-Stakes Showdown: What Traders Are Watching
Bitcoin takes a hit as geopolitical tensions steal the spotlight—because nothing says 'risk-off' like world leaders playing chess with global markets.
Here’s the breakdown:
The Drop:
BTC slips under pressure as traders brace for fallout from the Trump-Zelenskyy meeting. No surprises—crypto remains the canary in the coal mine for macro chaos.
The Context:
High-stakes diplomacy meets high-volatility assets. Meanwhile, Wall Street still thinks 'stablecoins' are a type of diet snack.
The Takeaway:
When the big boys talk, markets listen. Or panic. Or both. Buckle up.
BTC Slips to $115K
Last week began a lot better than the current one as the bulls pushed Bitcoin from $118,000 to over $122,000 on Monday. Although the asset retraced on Tuesday, it picked up the pace once again on Wednesday and especially Thursday morning when it shot up to a new all-time high of over $124,500.
That price pump, albeit impressive on its own, was short-lived as BTC quickly dumped to $121,000 and then $118,000 as the US PPI data for July came hotter than expected. The next few days were somewhat sluggish for bitcoin’s price actions, even though TRUMP met with Putin to discuss a potential peace deal between Russia and Ukraine.
Even the failure to strike a deal couldn’t shake BTC as the asset spent the weekend trading sideways in a tight range between $117,000 and $118,000. On Monday morning, though, the cryptocurrency headed straight south ahead of today’s meeting between Trump and Zelenskyy and dumped to an 11-day low of $115,000.
It has defended that level, but it’s still over 2% down on the day. Its market cap has slipped to $2.3 trillion, while its dominance over the alts is close to 58% on CG.
Alts in Retreat
Most altcoins have followed BTC on the way south with notable price declines. ETH has slipped below $4,300 after a 4.5% daily drop. XRP has dropped below the crucial $3.00 support level after a similar decrease. SOL, HYPE, XLM, SUI, ENA, PEPE, AAVE, MNT, NEAR, and ONDO have marked even more substantial declines.
LINK and XMR are among the few exceptions with minor gains over the past 24 hours.
However, the total crypto market cap has seen more than $100 billion leave over the past day, and the metric is down to $3.960 trillion on CG.
