The crypto market today has seen a notable decline, with the business’s market cap taking a hit of 8.46% to $2.86 trillion in the past 24 hours. Meanwhile, trading volume whooshed a jaw-dropping 115.29% to $186.48 billion, indicating growing activity as investors react to the downturn. Talking about the sentiments, the Fear & Greed Index stands at 29.
Bitcoin Price Slumps Below $83k Amid Market Sell-Off
Bitcoin has struggled to maintain ground, dropping 3.19% in the last 24 hours to trade at $85,737.78. After witnessing a 24-hour low of $82,131.90, BTC is currently changing hands at $85,737.78. Despite the decline, BTC’s dominance remains high at 61%, reinforcing its stronghold on the market.
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Ethereum Among Biggest Losers as Altcoins Take a Hit?
Ethereum extended its downward trend, falling 5.50% to $2,340.91, making it one of the top losers of the day. XRP and Solana also suffered losses, sliding 2.96% and 1.44%, respectively. With investor sentiment shifting, major altcoins are struggling to regain ground.
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Top Gainers:
Despite the broader market downturn, some tokens defied the odds:
- IP surged 12.61% to $6.54, leading the top gainers.
- OP climbed 9.72% to $1.18.
- APT gained 8.82% to $6.12, maintaining upward momentum.
Top Losers:
While ETH was among the worst performers, other tokens also saw significant declines:
- BGB fell 7.07% to $4.04.
- KAS dropped 5.68% to $0.0869.
With the market entering a phase of heightened volatility, investors remain curious with questions like “When will crypto go back up?” and “Is crypto bull run over?” Analysts believe this to be a correction phase, before the market resumes a bullish move that would further give rise to an altseason.
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FAQs
Bitcoin is currently trading at $85,737.78, with a 24-hour low of $82,131.90.
IP, OP, and APT are the biggest gainers, posting gains of 12.61%, 9.72%, and 8.82%, respectively.
Ethereum faced strong selling pressure, dropping 5.50% due to broader market weakness and increased liquidation.
