Cryptocurrency market suffers $524.87 million losses in liquidations over the past day; Bitcoin's dominance weakens, potentially opening the door for altcoins to surge.

The cryptocurrency market is currently experiencing a significant price dip, with Bitcoin (BTC) leading the downward trend. In the past few days, Bitcoin Dominance has faltered, drawing two consecutive fat red candles, signaling a change in trend on the 1-month chart. The price of Bitcoin (BTC) is currently trading in the $110,000 price range, having fallen from its earlier levels.

However, the crypto community is expecting a deep correction phase in September, with the price of Bitcoin (BTC) predicted to slip below 6-digit prices and fall as low as $90,000 during this bull cycle. This correction phase is expected to arrive once the Fed announces its rate cut decision later this month.

Despite the overall downturn, some assets are in green despite heavy liquidations due to their prices dropping further than they are currently trading. One such asset is Binance Coin (BNB), which has set a new ATH at almost $900 and is showing signs of hitting a higher target soon.

Meanwhile, the price of Ethereum (ETH) is currently trading in the $4,300 price range, having experienced a short drawback from its earlier level of $4,400. Ethereum (ETH) and Solana (SOL) are expected to experience similar short drawbacks before hitting higher highs soon.

Analysts predict that Ethereum (ETH) may potentially increase in value in the coming days or months, though none are specifically forecasted to reach new all-time highs immediately. According to predictions, Ethereum may roughly average €7,398 in 2025.

In addition to Ethereum, several altcoins are predicted to potentially increase in value in the coming days or months. NEAR Protocol, Cardano (ADA), Uniswap (UNI), Ethereum (ETH), and Bittensor (TAO) are among the altcoins that are expected to take over and potentially hit new ATH prices.

NEAR Protocol, for example, may reach about $3.03 in September 2025, while ADA may near $0.99, UNI may reach up to $13.86, and Bittensor may possibly reach $455 in September 2025.

Bitcoin (BTC) still has one CME Gap to fill between the $90,000 and $95,000 price range, and it has one last higher high left to make before the expected correction. It is worth noting that Bitcoin (BTC) has one fat red candle to print on the monthly chart, which could signal a further drop in price.

Over the last 24 hours, $524.87 million was wiped out in crypto liquidations, according to Coinglass data. This indicates the volatility in the market and the potential for further price swings.

In conclusion, while Bitcoin (BTC) is currently experiencing a downturn, the crypto market is preparing for a potential shift in leadership with altcoins potentially hitting new ATH prices in the coming days or months. The prices of BTC and ETH are trading below their earlier levels, but the market is still experiencing a significant price dip. Investors are advised to keep a close eye on the market and make informed decisions based on the latest developments.