Bitcoin Drops Below $116K as Market Breaks Down; Broader Crypto Sector Sees Red

Bitcoin (BTC) declined sharply early Friday, breaking below its recent trading range as U.S. equity markets showed signs of fatigue near key resistance levels.

The leading cryptocurrency slipped more than 2.5% to $115,170, its lowest level since July 10, signaling a bearish breakout from the $116,000–$120,000 consolidation zone, according to CoinDesk data.

Technical indicators had been warning of weakness, and the downside move increases the likelihood of a retest of prior resistance-turned-support near $111,956 — the peak recorded in May.

The broader crypto market also turned lower. Ether (ETH), Solana (SOL), and XRP dropped between 2% and 3%, mirroring the broader risk-off tone. The CoinDesk 80 Index, which tracks a wide swath of digital assets, fell 2.6% to 898 at last check.

Meanwhile, the Dow Jones Industrial Average dropped 0.70% overnight, stalling near 45,000 — a key horizontal resistance formed by previous highs in December and January. A failure to break higher in equities could further pressure crypto markets amid shifting risk sentiment.