The cryptocurrency market continues to showcase a decline, with total market cap dropping below $3.65 trillion. Major altcoins are showing negative results, following Bitcoin and Ethereum.
Total Crypto Market Cap Analysis
The total market cap of the cryptocurrency market has plunged by over 3.2% in the past 24 hours, currently standing at $3.65 trillion. This drop continues the negative trend that began in late July. The market cap failed to hold the $3.72 trillion support, which has now turned into resistance.
* The 21 EMA is sloping down, indicating continued bearish pressure. * RSI at 27.18 is deep in oversold territory, suggesting a potential relief bounce while confirming current weakness. * Volume spikes and aggressive sell-offs hint at institutional unloading.
Bitcoin Chart Analysis
Bitcoin's 4-hour chart also depicts a bearish trend:
* Price rejected at $118.6K, a major resistance zone. * It broke down from the short-term support at $116K, which is now acting as resistance. * The 9 and 21 MA cross is bearish, with the 9MA sharply sloping below the 21MA. * RSI at 29.20 confirms oversold conditions, yet no reversal signals are visible.
Top 10 Crypto Performance
Based on the latest data, here’s how the top 10 non-stablecoin cryptocurrencies are performing:
| Rank | Name | Price | 24h % | 7d % | Market Cap | | --- | --- | --- | --- | --- | --- | | 1 | Bitcoin | 115,654.77 | -2.44% | -0.64% | 2.3T | | 2 | Ethereum | 3,657.06 | -4.60% | -1.68% | 441B | | 3 | XRP | 2.99 | -4.41% | -4.32% | 177B | | 5 | BNB | 772.62 | -3.16% | -0.21% | 107B | | 6 | Solana | 169.25 | -5.55% | -6.64% | 91B | | 8 | Dogecoin | 0.2078 | -5.93% | -10.30%| 31.2B | | 9 | TRON | 0.3273 | -0.15% | +4.00% | 31B | | 10 | Cardano | 0.7292 | -6.19% | -10.46%| 25.8B |
Key Observations: * Bitcoin showed relatively better performance compared to altcoins but remains in a bearish technical trend. * Ethereum continues to underperform against Bitcoin, showing a sharper daily decline. * XRP, ADA, and DOGE are among the worst weekly performers, each dropping over 10%.
The market is clearly in a risk-off state. Bitcoin must reclaim the $116K–$118K levels to reverse the sentiment. The RSI on major assets is deeply oversold, suggesting a potential technical bounce, but the trend remains down. Altcoins are particularly vulnerable, especially those with high volatility.
