Downward trend continues in the global cryptocurrency market, APA-Economics reports, citing CoinMarketCap.
The global cryptocurrency market continues to decline. Over the past 24 hours, total market capitalization fell by 1.35% to $2.91 trillion.
Bitcoin (BTC), the market leader by capitalization, dropped by 0.25% over the past day and by 4.36% over the past seven days, falling to $86,385.77. Bitcoin’s market capitalization remains at $1.72 trillion.
Ethereum (ETH), ranked second, posted a sharper decline. Its price fell by 3.61% over the past 24 hours and by 12.15% over the past week, dropping to $2,823.93. Ethereum’s market capitalization stands at $340.8 billion.
The third-largest cryptocurrency, Tether (USDT), maintained its price stability as a stablecoin. USDT declined by just 0.02% over the past 24 hours, remaining at $0.9994.
Other leading cryptocurrencies also recorded losses. BNB fell by 3.23%, XRP by 4.60%, Solana (SOL) by 4.09%, Dogecoin (DOGE) by 5.18%, and Cardano (ADA) by 4.96%.
Analysts attribute the current downturn in the cryptocurrency market to weakening global risk appetite, uncertainty surrounding U.S. monetary policy, and a technical correction observed in recent weeks. At the same time, increased selling pressure in altcoins has deepened the overall market decline.
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