Bitcoin declined towards $113,000 on Wednesday following its peak of $124,000 last week, whilst Ethereum remained around $4,100, indicating market uncertainty, as per analysts, quoted by Economic Times.“The crypto market is caught in a fragile moment, where sentiment is swinging faster than prices themselves. Bitcoin slipping toward $113,000 and Ethereum near $4,100 captures the unease rippling through the market. Inflation worries, fading demand, and profit-taking have weighed on momentum, while Ethereum’s record short interest signals elevated liquidation risk,” said Avinash Shekhar, Co-Founder & CEO, Pi42.At 9.57 AM IST, Bitcoin was valued at $113,636, showing a decrease of 1.12% in 24 hours and 5% over the week.Also read: Crypto regulation in India- CBDT asks stakeholders on regulation, compliance; VDA oversight, tax-compliance in focusEthereum traded at $4,167, declining 0.92% in 24 hours and 11% over seven days.According to CoinMarketCap data, the total cryptocurrency market value was approximately $3.82 trillion on Wednesday.An additional expert noted that Bitcoin (BTC) is experiencing a downturn after reaching $124,500 last week, falling to $113,578 as markets await Jerome Powell’s Jackson Hole statement. “The price has dropped 7.6%, triggering significant capitulation among short-term holders (STHs). On-chain data from CryptoQuant shows over 20,000 BTC held for less than 155 days were sold at a loss since Sunday,” said Sathvik Vishwanath, Co-Founder & CEO, Unocoin, as quoted by ET.“Loss-taking peaked Tuesday, with 23,520 BTC sent to exchanges, coinciding with a 3.5% decline from $118,600 to $114,400, according to Glassnode. Despite this pressure, analysts suggest bears may struggle to push BTC below $100,000 given resilient technical support levels,” Vishwanath added.Meanwhile, Edul Patel, Co-founder and CEO of Mudrex noted Bitcoin traded above $113,400 as markets react to Trump’s 50% additional tariffs. These measures have sparked concerns about US economic contraction. However, declining dollar strength has increased non-sovereign asset appeal. Bitcoin Whales have accumulated over 20,000 BTC recently, indicating strong demand. Bitcoin needs to maintain $112,000 support to avoid testing $110,000.Vikram Subburaj, CEO, explained Bitcoin’s decline below $113,000 resulted from various factors including US tariffs, inflation concerns, SEC investigation into World Liberty Financial’s partner, and equity market weakness. These led to $116 million in liquidations and increased options market fear levels.
