Aug 21, 03:00 PM

Bitcoin Slides to $113,000, Testing Key Support Amid Broader Selloff

Bitcoin extended its August retreat, sliding from about $115,000 on 19 August to roughly $113,000 by 21 August as a broad cryptocurrency selloff gathered pace. Market trackers flagged a potential test of $112,000, a level some traders view as near-term support. The pullback has widened Bitcoin’s share of total crypto market value to 58.7%, while the Altcoin Season Index slipped to 42, underscoring heavier pressure on smaller tokens. Anthony Pompliano, chief executive officer of Professional Capital Management, told CNBC the latest drawdown appears modest compared with prior cycles and reflects a maturing market with greater institutional participation. He described Bitcoin at $113,000 as “pretty oversold” and predicted seasonal and policy factors could help prices recover in September and October. Pompliano reiterated his long-term view that the token could eventually reach $1 million, though not in the current cycle.

#Bitcoin #Altcoin Season Index #Anthony Pompliano #Professional Capital Management #CNBC #Pompliano

Written with ChatGPT .

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