The cryptocurrency market is experiencing significant negative changes, particularly concerning Bitcoin and altcoins. Bitcoin has dropped to levels not seen for several weeks, resulting in a decrease in overall market capitalization.
Bitcoin's Decline
Bitcoin continues to show negative trends. Last week, its price fell from $119,000 to under $115,000 due to sales by Galaxy Digital. After this brief drop, BTC managed to stabilize somewhat but lost ground again after the FOMC meeting. Negative news about the economic situation, including new tariffs, also contributed to the further decline, with Bitcoin first dropping below $113,000 on Friday since July 10.
State of Altcoins
Against the backdrop of Bitcoin's price drop, most altcoins are also under pressure. Ethereum fell below $3,500, and Solana slipped below $165. Additionally, the Pi Network token hit a new all-time low. However, some altcoins, such as XRP and Litecoin, showed slight increases, with the TON token rising over 3.5%.
Total Cryptocurrency Capitalization
The total cryptocurrency market capitalization has decreased to $3.750 trillion, which represents a loss of approximately $250 billion from the peak reached on Thursday. This significant fluctuation demonstrates the volatility of the current market situation.
Negative trends in the cryptocurrency market continue to put pressure on assets, including Bitcoin and altcoins. This may lead to further price fluctuations and changes in investor sentiment.
