Key Takeaways:
The digital currency market saw a broad-based decline over the last 24 hours, with the total market capitalization dropping more than 2% as major assets from Bitcoin to Solana posted notable losses.
The downturn was captured by the MarketVectorTM Digital Assets 100 Index, which fell 2.18% to 13,673.56. Data shows the market began to trend down significantly before 07:00 Beijing time and continued to trade at lower levels throughout the period.
The sell-off was widespread. Bitcoin fell 2.04% to $68,329.73, while Ethereum, the second-largest cryptocurrency, declined 2.58% to $2,087.13, according to the provided data. Among major altcoins, Solana (SOL) experienced one of the larger drops, falling 3.38%. Other notable losses included XRP, which decreased by 2.78%, and Dogecoin (DOGE), which slipped 1.23%. The weakness was also visible in different market-cap segments, with the MarketVectorTM Digital Assets 100 Small-Cap Index down 2.88% and the Mid-Cap Index falling 2.95%.
This market-wide drop points to a bearish shift in sentiment, potentially triggering further sell-offs as traders take profits or de-risk their portfolios. The move could now test critical technical support levels for major assets. For Bitcoin, traders will be watching if it can hold above the $68,000 mark, a level that has previously acted as support. A break below could open the door for a deeper correction towards the $65,000 range.
This article is for informational purposes only and does not constitute investment advice.
