Bitcoin (BTC) led the downturn, dropping 2.9% in the last 24 hours to $104,568. Despite holding above the $100,000 level, its market capitalization fell to $2.07 trillion with trading volume reaching $77.1 billion. The decline reflects a cooling trend after a period of sustained gains earlier in the week.
Ethereum (ETH) followed the same path, losing 6.1% to trade at $3,506.47. The asset’s market capitalization now stands at $421.4 billion, supported by a 24-hour trading volume of $47.2 billion. The decline highlights reduced buying pressure as traders opted to secure recent profits.
Leading Altcoins Record Broad-Based Declines
XRP (XRP) slipped 7.0% within the day, trading at $2.26 as selling activity increased. BNB (BNB) fell 8.3% to $953.16, erasing a portion of its previous weekly gains. Solana (SOL) also lost ground, dropping 10.6% to $158.19, with its market capitalization settling at $87.3 billion.
Dogecoin (DOGE) recorded a 6.9% fall to $0.162, while Cardano (ADA) declined 6.4% to $0.5374, reflecting cautious sentiment among traders. TRON (TRX) slipped 4.7% to $0.2801, and Wrapped Bitcoin (WBTC) declined 2.8% to $104,391, maintaining close alignment with Bitcoin’s trend. Despite the widespread drop, Lido Staked Ether (STETH) remained comparatively stable, demonstrating resilience among staked assets.
Select Tokens Defy Market Correction
While major cryptocurrencies struggled, several smaller-cap tokens recorded strong daily gains. Jelly-My-Jelly (JELLYJELLY) topped the list with a 207.3% surge to $0.1986. Decred (DCR) gained 166.4% to $49.33, while Novem Pro (NVM) increased 86.5% to $0.4103. Mine Blue (MB) advanced 70.6% to $0.06227, and Dash (DASH) grew 44.0% to $128.07, signaling increased investor activity in lower-cap projects.
Market Sentiment Turns Cautious
The decline across major cryptocurrencies suggests a short-term market correction as traders take profits following recent rallies. Despite the downturn, strong trading volumes indicate continued engagement from investors. With Bitcoin holding above $100,000, market sentiment remains watchful but stable, as participants anticipate further movement in the days ahead.