The crypto market today saw a blood bath as most of the tokens recorded sharp declines. This year has been very bearish for the market as Bitcoin prices are now 50% down from their Record high which it touched in October last year. The downturn shows continued risk aversion in global markets and sustained profit-booking across digital assets.
At the time of writing, Bitcoin (BTC) was trading at $69,356.62, down 7.30% in 24 hours, with its market capitalisation at $1.39 trillion and trading volume around $50.11 billion. On a broader timeframe, Bitcoin has dropped 18.02% over the past week and nearly 26% in the last month.
“Bitcoin continues to trade under pressure below the $71,000 level as buyers remain cautious despite the U.S. government ending its partial shutdown, a move that should gradually ease liquidity conditions. The current volatility reflects broader macro sensitivity rather than any crypto-specific weakness. Geopolitical tensions between the U.S. and Iran are also keeping risk appetite in check, though ongoing dialogue offers scope for sentiment to improve. Today’s U.S. jobless claims data could act as a near-term trigger. A reclaim of the $75,000 zone would signal renewed strength, while $71,000 remains a key support.” said Akshat Siddhant, Lead quant analyst, Mudrex
Ethereum, XRP Lead Altcoin Sell-Off
Losses were even sharper among major altcoins. Ethereum (ETH) fell 6.53% to $2,053.96, taking its weekly decline to 27.17% and monthly loss to 37.67%, with a market cap of $248.30 billion.
Similarly, XRP dropped 13.60% in a day to $1.35, making it one of the worst performers among large-cap tokens. XRP is now down over 25% in a week and more than 41% in a month, due to heavy selling pressure.
“Derivatives data shows continued deleveraging and elevated volatility, suggesting positioning resets are still underway. Despite the near-term pressure and thinning liquidity, crypto tokens remains locked in a broad consolidation band. A firm defense of current support could lay the groundwork for a gradual recovery and renewed upward momentum in the sessions ahead.” said Avinash Shekhar, Co-Founder & CEO, Pi42.
BNB, Solana, Dogecoin Extend Weak Trend
Other leading tokens also remained under pressure.BNB declined 9.12% to $672.27, with weekly losses exceeding 22%. Solana (SOL) slipped 6.45% to $88.26, down 25% in a week and over 37% in a month. Dogecoin (DOGE) fell 7.23% to $0.098, extending its monthly decline to nearly 35%.
Among major tokens, TRON (TRX) displayed comparatively smaller losses, declining 2.28% in 24 hours and about 5-6% over weekly and monthly periods.
Market Outlook As fragile sentiments Persists
The cryptocurrency market crash is because of the macro uncertainty, risk-off sentiment, and declining investor confidence. Sustained weakness in Bitcoin and Ethereum prices continues to weigh on broader altcoin performance.
“As price slipped below the $73K-$74K support zone, it entered an area of dense long leverage, triggering forced liquidations and accelerating downside momentum, effectively pulling BTC toward the $72K liquidity pocket. Immediate support now sits near $71.5K, while a clean break could expose the $66K-$68K zone. Unless BTC reclaims $75K, near-term risk stays skewed to further downside or volatile consolidation.” as per CoinSwitch Markets Desk.
