Today's trading session is marked by a decline in major cryptocurrencies. Bitcoin fell below $85k, while Ether lost the $2k support level.
Bitcoin Price Drop
Bitcoin started trading above $87k today but soon fell 3% to a low of $84,880. This downward movement occurred before the closing session of the US stock markets. At the time of writing, Bitcoin is trading around $85k, down 2% over the past 24 hours.
Ethereum and Altcoin Market Issues
Ether has also shown a significant drop, falling about 5% in the early part of the day. Currently, its price is near $1,890, down 6.3% over the day. This decline is attributed to the large-scale sale of ETH in exchange for DAI and other low-risk assets. Following this, leading altcoins like XRP, ADA, and SOL have dropped by 6%, 5%, and 5%, respectively.
Market's Top Gainers and Losers
Among the top gainers are GRASS and SAFE, both up 9%, followed by CRO, FORM, and LAYER, which rose approximately 5%. The biggest losers include ZETA with a 20% drop, BEAM falling 15%, KAITO by 13%, and LDO by 10%. Currently, the global crypto market cap stands at $2.77 trillion with a 24-hour trading volume of $88.38 billion.
Today's crypto market is experiencing noticeable declines, with leading assets like Bitcoin and Ether continuing to lose ground. Investors express concern about the high volatility levels and the potential continuation of this downtrend.
