The cryptocurrency market witnessed a sharp downturn today as major digital assets suffered significant declines. Bitcoin (BTC) led the slump, dropping to $109,642 after a 0.5% fall in the past 24 hours and a 1.5% weekly decline. The drop dragged its market capitalization to $2.18 trillion, signaling a widespread sell-off across the market. Trading volume remained high at $68.7 billion, suggesting active repositioning by traders amid the price slide.
Ethereum (ETH) followed suit, losing 1.9% over the past 24 hours and 3.7% in the week, settling at $3,831.49. Despite its strong fundamentals, Ethereum’s market capitalization of $462 billion could not shield it from the broader market correction. The decline highlights growing investor caution after weeks of moderate gains.
BNB, XRP, and Solana Extend Heavy Losses
BNB fell 1.7% in the past day and 4.2% this week, trading at $1,092.93 as traders reacted to shifting market sentiment. XRP also retreated, slipping 3.1% in 24 hours and 1.6% weekly gain to $2.48, with its market cap dropping to $148.8 billion.
Solana (SOL), one of the biggest performers in previous weeks, tumbled 4.4% in 24 hours and 4.5% across the week to $185.27. Analysts attribute the fall to reduced activity in decentralized applications and market-wide selling pressure. Its market capitalization dropped to $101 billion, underlining the extent of the decline.
Cardano (ADA) and Dogecoin (DOGE) were not spared, with ADA losing 4.0% to $0.6114, while DOGE slipped 3.2% to $0.1845. Both coins reflected the same bearish pattern sweeping through the crypto sector as traders moved to secure profits.
Small-Cap Tokens Defy the Market Collapse
While major coins suffered, several smaller tokens outperformed sharply. Pippin (PIPPIN) surged 100.1% to $0.03663, leading the day’s top gainers. Impossible Finance Launchpad (IDIA) jumped 57.8% to $0.0598, and Aurora (AURORA) rose 57.0% to $0.1097. Other notable gainers included Avalon (AVL), which climbed 27.4%, and Impossible Cloud Network Token (ICNT), up 24.4%, as investors sought quick profits in smaller-cap projects.
Market Outlook
The ongoing sell-off paints a grim picture for the crypto market, with major assets bleeding value across the board. Despite the downturn, trading activity remains robust, hinting that investors are closely watching for signs of stabilization before re-entering the market.