The cryptocurrency market is under pressure, with Bitcoin prices dropping below $96,000. This event has affected all altcoins and created uncertainty in market trends.
Bitcoin Price Decline
After a sharp rise to $98,000 on Friday, Bitcoin could not maintain this level and is now trading below $96,000. The cryptocurrency reached a local peak of $96,000 on April 25 and remained in a range between $93,000 and $95,000 for several days before attempting to rise again.
Altcoin Market Situation
Most altcoins are also showing negative trends. SUI dropped by 5%, while other cryptocurrencies like XRP, BNB, and SOL lost up to 3% of their value. TRUMP, a new market project, recorded a 14% decline, raising many concerns around it.
Overall Cryptocurrency Market
The total cryptocurrency market capitalization has decreased by $25 billion, totaling $3.075 trillion. Despite the temporary drop, Bitcoin's market dominance has increased to 61.7%.
Bitcoin and altcoins are going through tough times due to price corrections. Investors should closely monitor market changes that could lead to further fluctuations.
