Most of the tokens in the cryptocurrency market are undergoing sharp volatility as major coins like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) faced selling pressure in the last 24 hours. Bitcoin price crashed today after a bull run which was seen last week.
“In the meantime, Ethereum price is showing strength by trading just below $4000, and Binance Coin is below $1000. These tokens are expected to thrive once the sentiments change, which have come down to fear at the moment. The US President announced new tariffs on different products like pharmaceuticals, furniture, etc., which may have impacted the markets. This resulted in a liquidity squeeze of over $170 billion from the markets,” as per the CoinDCX Research Team.
Bitcoin Price Performance Today
Bitcoin price today is $109,495.76, down 2.05% in the last 24 hours and 5.36% in the last 7 days.
“Bitcoin is showing signs of recovery, trading near $109,800 after testing the $108,700 support level. Traders remain cautiously optimistic ahead of Friday’s $22 billion monetary options expiry. However, the selling pressure could ease after the expiry, as BTC derivatives show strong resilience. On the other hand, Bitcoin ETFs saw a strong $241 million in net inflows, helping build momentum. For now, bulls need to defend the $110,000 mark to maintain an upward trajectory, while new support is being formed at $107,500.” said Edul Patel, CEO of Mudrex.
Ethereum Price
The Ethereum price is $3,957.46, down 1.75% in 24 hours and a sharp 11.49% in the past 7 days. ETH’s market cap stands at $477.58 billion with a trading volume of $30.99 billion. Ethereum has underperformed compared to Bitcoin, dragging altcoins lower.
Tether (USDT) and USD Coin (USDC) Remain Stable
Stablecoins continue to hold their peg. Tether (USDT) is priced at $1.00 with a market cap of $173.52 billion, while USD Coin (USDC) trades at $0.9997 with a market cap of $73.98 billion.
XRP, Binance Coin, and Solana Under Pressure
XRP price today is $2.78, down 3.32% in 24 hours, with a market cap of $165.90 billion.
Binance Coin (BNB) trades at $941.55, falling 5.55% in a day, despite showing a 10.08% gain over 30 days.
Solana (SOL) is priced at $197.00, dropping 4.20% today and a massive 17.46% weekly loss.
Dogecoin (DOGE), TRON (TRX), and Cardano (ADA) Performance
Dogecoin price is $0.2277, down 3.18% in 24 hours but still up 4.02% over the month.
TRON (TRX) trades at $0.3342, down 0.42% today, with a market cap of $31.64 billion.
Cardano (ADA) is at $0.7778, sliding 2.55% in a day and 12.71% in a week.
Market Outlook
“The broader crypto market consolidated in red yesterday as lower-than-expected U.S. jobless claims tempered hopes of near-term Fed rate cuts. While risk-off sentiment has driven a wave of liquidations, an important countertrend is emerging: spot buyers are stepping in with larger allocation sizes. This divergence suggests that despite short-term volatility, conviction among long-term participants remains intact. Corrections of this nature are not unusual when macro surprises unsettle expectations. Market participants should watch upcoming macro releases, including today’s PCE inflation data, for further signals.” as per the CoinSwitch Markets Desk
