The crypto market declined today as Bitcoin (BTC) fell below $116,000, triggering widespread pullbacks across altcoins. Market capitalization dropped by 1.49% while over $530 million in positions were liquidated.
Because of this, the Altcoin market has shown signs of weak momentum. Whenever Bitcoin’s price dropped, Altcoins, especially Ethereum, often followed the price action. This has led to a significant dip in the overall market valuation.
Bitcoin Lost Hold on $118k, Drops to $115k
Bitcoin BTC Current Price Chart | Source: CoinMarketCap
Bitcoin started the day from a high of $119,535 after attracting strong momentum during the Asian session. It fell as low as $114,000, briefly recovered, and is now trading at $115,838, reflecting a 2% 24-hour drop.
Meanwhile, Bitcoin’s trading activity surged by 39%, but its market cap now stands at $2.3 trillion, according to CoinMarketCap.
Altcoin Prices Drop Amid Bitcoin Price Action.
Ethereum (ETH) briefly rose above $3,700 overnight before retreating. It is currently priced at $3,640, down 2% from the previous day. However, ETH trading volume rose by 6% to $44.9 billion, with a total market cap of $438 billion.
At the time of writing, BNB is down a modest 1.81% from an intraday high of $785. Trading activity has dropped by 18% today to $2.62 billion in trading volume. This results in a 1.66% dip in its market valuation, which currently sits at $$106.75 billion.
Trending Cryptos Today
- Bitcoin (BTC)
- Measurable Data Token (MDT)
- Ethereum (ETH)
- Maple Finance (SYRUP)
- Hyperlane (HYPER)
- Peaq (PEAQ)
Top Gainers & Losers Today
| Ethena (ENA): +13.71% | Pump.fun (PUMP): -16.72% |
| Sky (SKY): +3.79% | Bonk (BONK): -10.93% |
| Bitcoin Cash (BCH): +2.72% | Pudgy Penguins: -9.81% |
| Curve DAO Token (CRV): +0.83% | Raydium (RAY): -9.30% |
| Hedera (HBAR): +0.63% | Fartcoin (FARTCOIN): -9.28% |
| TRON (TRX): +0.59% | SPX6900 (SPX): -8.48% |
Crypto Marketcap Overview
Due to the price drop, the overall market valuation as of the time of reporting has dropped by 3.16% to $3.78 trillion. This is about a 10% dip from its recorded high of $4 trillion during trading hours last Friday. Trading activity has decreased as investors retire for the weekend, but with a 2.35% increase to $223 billion in trading volume, according to CoinMarketCap.
The Altcoin Season Index stands at 32, suggesting that investors are rotating out of altcoins and back into Bitcoin dominance.
In the last 24 hours, about 137,709 traders have been liquidated from their trades. According to data from Coinglass, that is about $531.12 million in total loss. $427.30 million of that came from long positions while $103.62 million came from shorts. The majority of the bet was on BTCUSD.
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