The crypto market is experiencing tough times: Bitcoin is falling from historical highs while Ethereum also remains unstable. Let's examine the current state of the market.
Bitcoin and Ethereum Crash
Bitcoin has dropped from a peak of **$120,000** to **$108,000**, resulting in significant losses in market capitalization. Ethereum, which was also close to breaking the **$5,000** mark, followed Bitcoin's decline.
Total Crypto Market Losses
The total cryptocurrency market capitalization has fallen by more than **$430 billion (-10.45%)** from recent highs. Support levels hover around **$3.72T** to **$3.75T**, dangerously close to breaking key moving averages. The RSI indicator sitting at 46 shows weak momentum.
Cryptocurrencies Defying the Crash
Despite the overall market downturn, five tokens have shown significant gains over the week:
1. **Cronos ($CRO)**: +81.09% over the week, market cap - $9.7B. 2. **Pyth Network ($PYTH)**: +46.25% over the week, market cap - $1.05B. 3. **BUILDon ($B)**: +31.91% over the week, market cap - $718M. 4. **Story Protocol ($IP)**: +29.10% over the week, market cap - $2.33B. 5. **POL (prev. $MATIC)**: +13.01% over the week, market cap - $2.95B.
While Bitcoin and Ethereum are under pressure, some tokens are demonstrating relative strength. It is crucial to understand whether they can maintain their positions amidst market instability.
