Bitcoin falls to $102K as market volatility continues

The cryptocurrency market is experiencing notable volatility, with Bitcoin (CRYPTO:BTC) dropping to $102,000, reflecting a broader trend of declines among major cryptocurrencies.

As of Thursday, Bitcoin retraced its recent gains, prompting caution among investors.

The global cryptocurrency market cap has decreased by approximately 3%, now standing at $4.54 trillion, while trading volume has fallen by 28.65%.

Leading cryptocurrencies such as Ethereum (CRYPTO:ETH) and Solana (CRYPTO:SOL) also recorded declines, with Bitcoin's price falling by about 1% to 3% alongside these assets.

Meme coins like Dogecoin (CRYPTO:DOGE) and Shiba Inu (CRYPTO:SHIB) are not immune to this downturn, with Dogecoin experiencing a nearly 6% drop to $0.3518 and Shiba Inu declining by 3% to $0.00002012.

The decline in the meme coin sector has contributed to a decrease in overall market enthusiasm.

Despite the current challenges, analysts maintain a positive long-term outlook for the cryptocurrency market.

Crypto analyst Ash Crypto noted, “A strategic Bitcoin reserve is coming,” indicating optimism for future price movements.

Furthermore, Eric Trump’s supportive comments on cryptocurrency are viewed as potentially influential for market dynamics.

Data from Santiment suggests that the accumulation of Bitcoin during fluctuations could signal potential profits ahead.

Coinbase CEO Brian Armstrong's commitment to enhancing support for the Solana network also contributes to positive expectations within the market.

At the time of reporting, the Bitcoin (BTC) price was $102,600.