The cryptocurrency market experienced a notable downturn as Bitcoin’s price dropped below the $110,000 mark. This decline comes despite a lack of major market triggers and follows repeated breaches of the key $112,500 support level. Upcoming economic data releases this week could provide clues about whether this decline is temporary. While the broader market awaits clarity, Ethereum (ETH) and XRP also faced notable challenges. Bitcoin’s movement below $112,500 continues to raise concerns as monthly closures loom. A further drop below this crucial support level might occur if daily trading volumes continue to weaken. Asian markets opening could offer insights into the price movement.