The cryptocurrency market experienced a sharp downturn today.
Bitcoin (BTC) stabilized around the $96,000 mark, while major altcoins like Ethereum (ETH), Solana (SOL), XRP, and Binance Coin (BNB) faced significant losses.
The market-wide crash led to liquidations totaling $1.46 billion over the past 24 hours, highlighting intense volatility.
Bitcoin (BTC) slides
- Price: $96,000 (down 2% in 24 hours)
- Market Cap: $1.92 trillion
- Trading Volume: $111 billion
Bitcoin ETFs recorded mixed performance, with significant inflows at Fidelity ($175M), while Bitwise and ARK ETFs saw outflows of $39M and $34M, respectively.
A proposed Bitcoin reserve by a Russian lawmaker added a layer of geopolitical intrigue, positioning BTC as a potential tool for financial stability amidst international sanctions.
Ethereum (ETH) declines
Price: $3,691 (down 7% in 24 hours).
Market Cap: $445 billion.
Trading Volume: $60 billion.
Ethereum ETFs saw net inflows of $5.6 million, primarily driven by Fidelity, though some providers like Bitwise reported outflows.
Major altcoins and meme tokens plunge
- XRP: Down 16%, trading at $2.08
- Solana (SOL): Stable at $210 but down from its weekly high
- Dogecoin (DOGE): Down 14%, trading at $0.3878
- Shiba Inu (SHIB): Plunged 19%, now at $0.00002524
The meme coin sector mirrored the bearish trend, with tokens like PEPE, WIF, and BONK losing between 15% and 25%.
Top gainers
UNUS SED LEO (LEO):
- Price: $9.50 (+2%).
- Market Cap: $8.85 billion.
LEO stood out as the sole top gainer amid the broader market slump.
Top losers
GALA:
- Price: $0.0443 (-25%).
- Market Cap: $1.6 billion.
Source: CoinMarketCap
Worldcoin (WLD):
- Price: $2.80 (-23%).
- Market Cap: $2.09 billion.
Bitcoin remains resilient amid heightened volatility but struggles to regain the $100K mark.
Altcoins face a challenging market environment, with ETH, XRP, and SOL posting notable losses.
Mixed ETF flows highlight uncertainty, while geopolitical developments like Russia’s Bitcoin reserve proposal signal growing institutional interest in cryptocurrency.
As the market digests these shifts, investors should brace for continued volatility and monitor regulation, market sentiment, and adoption developments.
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