Bitcoin Faces Critical Resistance as Altcoin Market Shows Signs of Exhaustion and Traders Anticipate Potential Volatility

Key Points

1. Bitcoin is currently trading around $113,444, facing heavy resistance near $115,700, with potential downside risks if it fails to break this level.

2. The altcoin market cap has dropped to $1.44 trillion, marking a 2.56% decline from recent highs, indicating a cooling-off period after a 60% rally from April to July.

3. Support levels for Bitcoin are at $107,805 and $99,479; a breakdown below these could push BTC below $100,000.

4. Altcoins are in a correction phase, with momentum slowing after peaking in mid-July, and investors are watching key support levels.

5. The market is in a state of uncertainty, with traders anticipating potential volatility in the coming sessions.