Crypto Market Today: Bitcoin Drops Below $85K as Altcoins Follow Suit

TLDR

• The crypto market today faces a bearish trend, with Bitcoin dropping 13.09% over the past week.
• Ethereum fell 14.83% in the past week and 10% in the last 24 hours and is now priced at $2,727.58.
• XRP sees a 16.75% decrease over the past week, with a 10.09% drop in the last 24 hours.
• Solana drops 11.34% in the last week and 11.57% in the last 24 hours, now priced at $126.73.
• Dogecoin declines 12.26% in the last week, with an 8.03% drop in the past 24 hours, priced at $0.1448.

For the last week, the crypto market has shown a sharp decline across various assets, reflecting a generally bearish sentiment. Leading cryptocurrencies such as Bitcoin, Ethereum, and Solana have experienced significant losses in recent days. The overall market movement points to a downturn, as major coins struggle to maintain value. At the moment, many assets are trading at their multi-monthly lows, indicating a clear bearish-dominated market.

Bitcoin  Sees Large Drop as Ethereum Follows a Similar Pattern

A deeper view of the current market trend today via CoinMarketCap confirms that Bitcoin (BTC) continues to experience notable losses, with its price decreasing by 13.09% over the past week. Currently, Bitcoin stands at $84,288.84. In the last 24 hours, it has fallen by 8.40%. This drop contributes to the broader market downtrend, reflecting the overall bearish sentiment for major assets.

Source: CoinMarketCap

Ethereum (ETH) has also faced significant declines. Over the past week, it has dropped by 14.83%, with a 10% decline in the last 24 hours. The price of Ethereum now sits at $2,727.58. This downward movement mirrors Bitcoin’s losses, emphasizing the market-wide downturn.

Additionally, XRP has seen a 16.75% decrease in the past week, with a 10.09% drop in the last 24 hours. The current price of XRP is $1.91. Solana (SOL) has also faced a sharp decline, falling 11.34% over the last week. Solana’s 24-hour decrease stands at 11.57%, bringing its price to $126.73. Binance Coin (BNB) has also struggled, experiencing a 9.75% loss over the last seven days. In the last 24 hours, BNB has decreased by 8.17%, bringing its price to $831.18.

Stablecoins Hold Steady as DOGE, ADA, and HYPE Struggle

USD Coin (USDC) and Tether (USDT) have shown minor fluctuations compared to other cryptocurrencies. USDT has remained almost unchanged, dropping 0.04% over the last 24 hours. In contrast, USDC has seen a slight decrease of 0.01% over the past week, maintaining a stable position in the market.

Dogecoin (DOGE) has dropped by 12.26% over the past week and 8.03% in the last 24 hours. Its current price is $0.1448. Cardano (ADA) has faced even steeper losses, falling 20.30% in the past week and 10.80% in the last 24 hours.

ADA is now priced at $0.4171. Hyperliquid (HYPE) has also decreased by 6.07% over the past week, with a 9.81% drop in the last 24 hours. Its price currently stands at $35.36. The data reveals a clear bearish trend across the market. Most cryptocurrencies are facing declines, indicating a challenging period for digital assets.

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