The current state of the cryptocurrency market has once again put investors on high alert, displaying notable price shifts. As of early trading hours in Asia on Friday, Bitcoin (BTC) dropped below the $82,000 mark. Meanwhile, both Ethereum (ETH) and Solana (SOL) also saw their values decline. In contrast, XRP experienced gains, buoyed by Ripple’s recent developments in Dubai, while TRUMP emerged as the standout gainer in the market. Below is a concise overview of the leading cryptocurrencies by market capitalization and their performance metrics.
Current Crypto Market Overview: BTC and Altcoins Under Pressure
The global cryptocurrency market experienced a decline of approximately 1.3% today, resulting in a market capitalization of $2.68 trillion. This bearish trend persisted despite the recent cooling of inflation rates in the U.S., as indicated by the latest Consumer Price Index (CPI) report. The current sentiment among traders and investors is one of anxiety regarding risk assets, primarily influenced by ongoing macroeconomic concerns.
Bitcoin Price Dips Below $82K
At the time of reporting, Bitcoin’s price had decreased by over 2%, trading at $81,998. The cryptocurrency reached a low of $79,931.85 and a high of $84,158.76 during the past 24 hours. Data from Coinglass revealed that Bitcoin faced liquidations totaling $78.88 million over the previous day, contributing to the observed market volatility. Furthermore, Bitcoin’s market dominance fell by 0.51% to 60.80%, suggesting that altcoins are performing relatively better.
Ethereum’s Price Declines Slightly
Ethereum experienced a minor dip of 0.3% and settled at $1,888 at the time of this report. The second-largest cryptocurrency by market capitalization hit lows and highs of $1,823.53 and $1,919.69, respectively, over the last 24 hours. Ethereum’s liquidations amounted to $37.27 million during this timeframe. Additionally, its market dominance has contracted to 8.5%, indicating that other altcoins are gaining traction.
XRP Experiences 2% Surge
XRP saw an increase of 2% in the past day, closing at $2.28. Throughout the day, it recorded a low of $2.22 and a high of $2.34. Notably, this rise coincides with Ripple’s recent achievement of securing a DFSA license, facilitating its expansion into Dubai’s robust $277 billion market, amid ongoing global efforts for ETF approval.
Solana’s Price Decline
In contrast, Solana’s price fell nearly 1%, trading at $124. The cryptocurrency’s 24-hour low and high were noted at $120.91 and $128.16, respectively. Solana also reported minor liquidations totaling $8.61 million in the past day.
Meme Cryptocurrency Market Update
In the meme cryptocurrency sector, Dogecoin (DOGE) saw a decline of 2%, trading at $0.1680. Shiba Inu (SHIB) also fell by 0.5%, reaching $0.00001227. Pepe Coin (PEPE) suffered a more significant drop, plummeting 7% to $0.000006797.
Top Crypto Performers Today
Among the top gainers in the crypto market today, Official Trump (TRUMP) surged to a price of $11.8124, with a 12% increase over the last 24 hours. Other notable gainers included Kava (KAVA), priced at $0.4681 with an 8% rise, and Sonic (S) at $0.5004, marking a 7% gain.
Top Crypto Performers Today
Conversely, the biggest losers in the market today included Story (IP), which dropped to $5.722, showing a 9% decline, Ethena (ENA) fell to $0.3351 with an 8% decrease, and Movement (MOVE) was down 6%, trading at $0.4477.
Overall, the cryptocurrency market is facing renewed bearish trends after a brief period of optimism. Factors such as the ongoing saga surrounding Trump’s tariffs are contributing to heightened macroeconomic pressures, affecting risk assets despite positive developments like the recent announcement regarding the U.S. strategic Bitcoin reserve.
