Crypto Market Shakeup: Bitcoin, Solana, and Dogecoin Dip as Circle Stock Soars Post-IPO

Crypto Markets Stumble Amid Broader Economic Concerns

Bitcoin and major altcoins experienced a late-Thursday downturn, driven by a confluence of factors including the re-escalating trade war, slowing U.S. economic indicators, and the brewing feud between U.S. President Donald Trump and billionaire Elon Musk. This overshadowed the euphoria surrounding Circle's successful debut as a publicly traded company.

The leading cryptocurrency, Bitcoin, was recently trading at around $100,825, a decline of nearly 4% over the past 24 hours, according to CoinGecko, a crypto market data provider. Bitcoin's value has fallen more than 9% in the past two weeks, having last dipped below $101,000 nearly a month ago.

BitBull Capital CEO Joe DiPasquale attributed the crypto market pullback to a broader "risk-off tone," noting that "investors seem more focused on sticky macro headwinds—the trade tensions, slowing jobs data, and ISM softness—all of which weigh on risk appetite."

While DiPasquale described Bitcoin as still being in a "healthy range" technically, he acknowledged that altcoins like Solana (SOL) and XRP are exhibiting more volatility as liquidity thins out. He added that the overall sentiment is "cautious, not panicked—more like digestion than fear."

The declines in the crypto market coincided with broader stock market weakness, as the tech-heavy Nasdaq and S&P 500 both closed the day down more than half a percentage point. However, the debut of Circle, the stablecoin issuer, on the New York Stock Exchange generated significant interest, leading to trading halts three times in the first hour.

Looking ahead, DiPasquale "expects choppy conditions to continue in the near-term," noting that a lack of clarity on U.S. trade policy or a major catalyst, such as a rate cut or fresh ETF inflows, could keep the crypto market range-bound. He remains optimistic about Bitcoin's long-term prospects, stating that "any dips toward $100K are likely to find buyers." However, he cautioned that altcoin performance may continue to be uneven as investors maintain a selective approach.