Cryptocurrencies Plunge Up to 12% as Bitcoin Falls Below $118,000
The correction is also showing in the crypto-linked exchange-traded funds (ETFs). Spot Bitcoin ETFs saw two straight sessions of outflows.
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Last updated: Wednesday, July 23, 2025
Quick overview
- Cryptocurrencies are facing significant losses today, with Bitcoin dropping 1.6% and Ethereum falling 3.7%.
- Altcoins experienced even larger declines, with Ripple and Dogecoin down over 10%.
- Analysts view the downturn as healthy profit-taking rather than a sign of a deeper market reversal.
- Institutional interest in crypto remains strong, bolstered by new regulations and potential Federal Reserve rate cuts.
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ABOUT THE AUTHOR
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Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
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