Crypto prices today turned bearish as most big coins traded in the red zone. Bitcoin Price fell below the $107,000 mark, while Ethereum and other altcoins declined by over 3%. Investors seemed cautious after the global market sentiment weakened following mixed signals from the Federal Reserve over further rate cuts. Here’s why the crypto market is down today, based on CoinMarketCap data.
Bitcoin price was down 0.97% to trade at $106,791, while the market cap stood at $2.12 trillion. The traded for $71.4 billion over the past 24 hours, suggesting cautious investor sentiment. Ethereum fell sharply by 3.02% to $3,624. It had a market capitalization of $437.4 billion with a trading volume of $48.7 billion.
Solana was one of the biggest losers in crypto prices today. The coin shedded 6.81% to $165.27. SOL remained the sixth-largest cryptocurrency by a market cap of $91.3 billion. XRP price fell 3.96% to $2.34, which trimmed its market capitalization to $140.7 billion.
BNB dropped 4.87% to $989.53 while Dogecoin decreased 2.86% to $0.1699. Cardano dipped 2.70% to $0.5585 while TRON was off 3.01% to $0.2842. The stablecoins Tether and USD Coin were flat near their $1 peg, as expected. The broad-based weakness suggested that crypto prices struggled to find support despite the recent highs in traditional equity markets.
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