BTC/USD: Bitcoin Prices Slide 6% from Record as Traders Brace for Next Big Catalyst

What comes next? Fed’s decision on interest rates, for one, may give those bulls some reason to charge ahead. But what if the bears get their way?

📉 Bitcoin Slides 6% from Record

• Bitcoin BTCUSD fell to $115,000 early Friday, taking its losses to over 6% from its all-time high of $123,000 set just a few days ago on July 14. While not quite a steep pullback, it’s a potential sign the recent crypto rally is losing momentum in the short run.
• The broad retreat comes as traders lock in gains and shift their focus to the next major macro catalyst: the Fed’s rate decision on Wednesday. Bitcoin’s meteoric run always needs fuel, and right now the tank’s looking a bit low — can the Fed make it pop again?
• Crypto bulls still have plenty to hold the line for. But with sentiment stretched and uncertainty rising, the bears have found their opening and won’t hesitate to step up.

📊 Altcoins in Focus

• Bitcoin’s stutter has historically triggered a “rotation” effect — and we’re seeing the same pattern play out now. As the flagship crypto sheds market cap, it trickles down the line and altcoins are happily soaking it up, with traders betting on lagging tokens to play catch-up.
• Ether ETHUSD jumped to $3,900 this week, riding a modest wave of optimism as the main character in the alt season. Whether it can hold gains without Bitcoin leading the way is another question.
• Expect more volatility across the crypto complex if big boss stays stuck — or worse, heads lower. Anywhere below $110,000, analysts warn, could be your sign to reassess your risk exposure.

🚨 Fed on Deck

• All eyes are now on Wednesday’s Fed meeting, where Chair Jay Powell is expected to hold rates steady despite constant pressure from Trump to cut borrowing costs (even during a rare visit to the Federal Reserve on Thursday where the two got into a public kerfuffle over renovation costs).
• For Bitcoin, any dovish tilt — or even a whiff of a future rate cut — could reignite risk appetite, potentially sending prices back toward record territory.
• But if Powell sticks to his higher-for-longer tone, or if economic data stays too hot, the orange coin could face more downside pressure as traders restack their portfolio.
• Powell’s words next week could be the match that lights the next leg — or the cold water that sends bulls back to the sidelines. Until then, expect chop, rotation, and plenty of Twitter/X cope.