The cryptocurrency market experienced a sharp downturn within the past 24 hours, as top digital assets recorded notable losses. Bitcoin, the largest cryptocurrency by market capitalization, dropped by 0.8 percent to trade at $108,795.
The decline comes after a recent climb that had pushed Bitcoin above $108,000 for the first time in weeks, indicating a potential reversal of momentum.
Ethereum, the second-largest crypto in terms of market value, followed Bitcoin and fell 0.3 percent to reach $2,561.58. While efforts were made to increase its value, Ethereum’s price remained trapped in a narrow zone. Lower trading levels and a lack of market excitement led to the Drop.
XRP’s price dropped by 2.3 percent over the day to $2.29, reversing gains made during last week’s rise. However, recent price trends suggest that selling is gaining momentum across the market.
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BNB, used on the Binance exchange as a utility token, dropped by 0.1 percent to $674.13. Even with this slight reduction, BNB continues to show a 3.6 percent rise over the week.
Solana suffered the most significant loss among the top five, dropping 2.6 percent to $173.02. Over the past few weeks, the asset has become very active due to the growth of its decentralized application ecosystem. Even so, the rapid Drop demonstrates that the market is experiencing more uncertainty and a shift in sentiment.
The trend with major cryptocurrencies was a decline, but several altcoins achieved notable gains. Meme token GME, which operates on Ethereum, rose 29.6 percent and reached $0.0001099. An increase in retail interest and trading led to the jump.
Suilend (SEND) rose by 22.6 percent, reaching $0.8572 and getting notice from interested traders. Status (SNT) and MEOW rose by 17.2 percent and 16.6 percent, respectively, confirming that investors are still enthusiastic about these riskier assets.
The Drop across leading cryptocurrencies signals a period of consolidation. As investors respond to weakening momentum, the market shows signs of divergence, with altcoins gaining traction even as top assets retreat.
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