Bitcoin slips nearly 3% in one day to $103K weighed by profit-taking and cooling AI/tech trade

Bitcoin slipped nearly 3% in one day to trade at $103,279 on Wednesday after briefly rallying near $107K, Bitcoin’s rebound lost momentum, slipping back toward $103K as profit-taking and a cooling AI and tech trade weighed on sentiment.

Ethereum went down by nearly 4.28% in the past day to trade at $3,432 while major altcoins such as XRP, BNB, Solana, Dogecoin, Cardano, and Hyperliquid went down over 8%. In contrast, Tron gained around 0.55%. The global crypto market capitalisation went down 3.43% to $3.47 trillion, according to CoinMarketCap.

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CoinSwitch Markets Desk says the crypto market is showing range-bound weakness, as Bitcoin trades around $103,300, down about 3% on the day and after a brief rally to near $107K, the rebound faded, and BTC slumped back toward ~$103K, weighed by profit-taking and a cooling AI/tech trade.

“Technically, immediate support is near $100K-$102K, while resistance remains around $110K-$111K, failing which sideways to lower action may persist. With fund flows thin and macro catalysts muted, patience and disciplined risk management are key,” the CoinSwitch Markets Desk added.

In the past week, Bitcoin and Ethereum have gained 1.39% and 3.34% respectively. Among the major altcoins, Solana and Hyperliquid were down by 1.34% and 2.60% respectively, whereas XRP, BNB, Tron, Dogecoin, and Cardano gained over 7% in the same time period.

Riya Sehgal, Research Analyst, Delta Exchange, says that the recent downturn in crypto reflects a clear risk-off sentiment as traders unwind leveraged positions amid low liquidity and Bitcoin’s failure to sustain above $107,000 and Ethereum’s dip below $3,550 highlight weakening buying momentum, while over $460 million in liquidations underscores market fragility.

“ETF inflows remain muted, suggesting institutions are waiting for stronger macro clarity before re-entering. Despite optimism around the U.S. government shutdown resolution and potential rate cuts, crypto assets continue to lag traditional markets. Overall, traders are prioritising capital preservation over risk-taking until stronger directional conviction emerges,” Sehgal added.

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Market perspective

Edul Patel, CEO of Mudrex

Bitcoin is consolidating around the $103,300 level, even as the U.S. moves to end its 40-day government shutdown. Despite the cautious tone, investor sentiment remains resilient with the release of the U.S. crypto market structure bill, which introduces clearer rules around regulatory control, listing standards for tokens, among others. Meanwhile, whales continue to accumulate, anticipating a relief rally as macroeconomic data turns favourable. For now, holding the $101,000 support level is crucial to avoid further downside. A clear breakout above $106,000 would signal renewed bullish momentum.