Bitcoin fell below $113,000 on Tuesday, extending its recent losing streak as U.S. equities surged to record highs led by tech giant Nvidia.
After briefly pushing past $116,000, BTC reversed sharply in afternoon trading, dropping nearly 2% to $112,700 — almost identical to Monday’s late-session retreat. The weakness suggested that sellers continue to dominate near the mid-$110,000 zone.
Ether (ETH) slid 4% to $3,969, while other major altcoins also retreated. Solana (SOL) and Litecoin (LTC) lost around 4% each, and Hedera (HBAR) surrendered much of its recent ETF-driven gains.
The pullback came as the S&P 500 broke through 6,900 for the first time and the Nasdaq set another all-time high. Nvidia (NVDA) surged 5%, closing in on a $5 trillion market capitalization during CEO Jensen Huang’s keynote at the GPU Technology Conference — a move some analysts said diverted speculative capital from digital assets.
Crypto-linked equities followed the broader decline. Bitfarms (BITF), CleanSpark (CLSK), HIVE, and IREN each dropped between 4% and 5%, while Galaxy Digital (GLXY) sank 8% amid a $1.15 billion fundraising announcement. Strategy (MSTR), the largest corporate bitcoin holder, fell 3.7%.
Bitfinex Sees Key Support at $113.6K
According to a new report from Bitfinex analysts, bitcoin’s next major test lies at $113,600, representing the short-term holder cost basis. Maintaining that level would signal the start of a potential accumulation phase, they said.
“Trading above $113,600 has historically marked the transition from correction to recovery,” the report noted. “If BTC fails to hold, the next support sits near $97,500, which defines the lower end of the current consolidation range.”
While bitcoin has stabilized since its early-October crash, Bitfinex warned that continued weakness in momentum indicators could open the door to deeper losses — especially as traditional markets attract renewed institutional flows.
