Bitcoin price crash is under $113,000 amid weak metrics in the chain range and rising Altcoin flow

Bitcoin prices are once again under pressure as they weaken technology in the market and heavily fatigued the chain. This decline comes from signs of capital turnover, among the signs of altcoins, putting pressure on the flagship cryptocurrency.

Bitcoin fell below the $113,000 mark on Monday, sparking new concerns across the crypto market. Market data from crypto.news shows that the assets traded at $112,909 at press, down about 2.5% on the day. The decline marks a strong withdrawal from High Points of nearly $118,000 this week, bringing losses to 3% over the past seven days, highlighting the increasing uncertainty and uncertainty surrounding the flagship cryptocurrency.

Bitcoin Price Chart | Source: crypto.news

Bitcoin (BTC) has been struggling to maintain its upward momentum last week. The continued resistance and weakening of buying pressure have driven a drop in prices, accelerating the losses to the level they last saw more than a week ago.

Weak technology and on-chain fatigue fuel bitcoin price crash

Technical indicators draw carefully. Bitcoin's relative strength index (RSI) slipped to 45.57, indicating that momentum has been lost. Meanwhile, MACD is overturning downwards, reflecting bearish feelings as shopping pressures are waning. Furthermore, futures volumes rose 137.2% to $72.97 billion, suggesting that speculative activity has increased as traders tried to capitalize on volatility.

On-chain metrics further strengthen the bearish outlook. A recent analysis by cryptographic researcher Joao Wedson shows signs of cycle fatigue. According to him, Bitcoin's SOPR (Used Production Profit Ratio) trend signal suggests increased profitability. Analysts warn that accumulation at the current level is unprecedented, with many investors buying BTC at historically higher prices rather than in the more favorable period of the previous.

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Joao also noted that the realised price for short-term holders (currently $111,400) now serves as a major reference point, especially for institutions that have missed their previous accumulation stages. He further stated that the Sharp ratio, a measure of risk-adjusted returns, has weakened compared to 2024, making Bitcoin less attractive to players at large institutions.

The decline in social interest around BTC is adding to the bearish outlook. Joao pointed out that Altcoins are likely to attract public attention, and that the market could potentially spin from Bitcoin and enter Altcoins using reserves accumulated during previous gatherings.

“We're in the season of Altcoin, and that's what you should be aware of,” he added.

Despite the story of spinning, the altcoin is under pressure

However, despite analysts' optimism regarding Altcoins, current market signals suggest that this is not the case. The Altcoin season index, which surged to 78 last week, fell to 64, suggesting cooling emotion.

As for price action, some of these assets, like Bitcoin, have retreated into the negative price range. Ethereum (ETH) has declined 7.23% over the past 24 hours, trading at $4,158.99 at the time of writing, while XRP (XRP) has dropped from about $2.79 from about 7.25%. BNB (BNB) has soaked 5.09% in $1,014 despite recent bullish momentum. Solana (Sol) has fallen nearly 8%, while Dogecoin (Doge) has recorded a loss of over 11%, with other majors like Cardano (ADA) and Tron (TRX) suffering significant losses.

In addition to market attention, the cipher's fear and greedy index reads 47, marking the area of ​​”neutral” but bordered towards fear. For now, both Bitcoin and the wider Altcoin market are under pressure, with traders waiting for a clearer signal and waiting before re-entering.

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