The cryptocurrency market witnessed a broad-based correction over the past 24 hours, with selling pressure visible across major digital assets and risk appetite moderating.
Bitcoin Leads Decline
Bitcoin fell 5.22% to $64,648.40, trimming recent gains and bringing its market capitalization to $1.29 trillion. Trading volumes remained elevated at $17.85 billion, indicating active repositioning by market participants.
Technical analysts note that the $62,000–$63,000 zone now emerges as a crucial near-term support band. A sustained break below this range could trigger additional downside momentum.
Ethereum Under Pressure
Ethereum declined 6% to $1,862.30, with its market cap at $224.77 billion and 24-hour volume of $9.46 billion. The sharper fall relative to Bitcoin reflects continued weakness in the broader altcoin segment.
Altcoins See High-Beta Selling
The correction was more pronounced in risk-sensitive tokens:
Solana dropped 8.48% to $78.26.
Cardano fell 7.04% to $0.2599.
XRP and BNB each declined 6.25%.
Dogecoin slipped 5.51%.
The uniform decline across large-cap altcoins signals profit booking and a short-term risk-off approach among traders.
Stablecoins Remain Anchored
Defensive positioning was evident in stablecoin flows:
Tether traded near $0.9998 with $42.08 billion in daily volume.
USD Coin remained steady at $0.9998.
Elevated USDT volumes suggest capital rotation and hedging activity during volatility spikes.
Market Structure & Outlook
The synchronized downturn across top-ranked tokens indicates short-term sentiment-driven correction rather than asset-specific weakness. Market experts highlight that failure of Bitcoin to reclaim the $66,000–$67,000 resistance zone may keep volatility elevated.
