Synopsis
Major cryptocurrencies experienced a decline for the second consecutive day on Wednesday, influenced by profit booking after recent highs. Bitcoin (BTC), Ethereum (ETH), BNB, and Solana all fell, leading to a 1.3% drop in the global cryptocurrency market cap, which is now approximately $2.31 trillion.
Major cryptocurrencies continued to decline for the second consecutive day on Wednesday, driven by profit booking after recent highs. Bitcoin (BTC), Ethereum (ETH), BNB, Solana, and others saw declines, leading to a 1.3% drop in the global cryptocurrency market cap, now standing at approximately $2.31 trillion over the past 24 hours.
As of 1:21 pm IST, Bitcoin had fallen 1%, trading at Rs 66,790, while Ethereum dropped 1.8% to Rs 2,602.
Other significant cryptocurrencies also faced losses, including BNB (-1.8%), Solana (-1.5%), XRP (-3.9%), Dogecoin (-3.7%), Toncoin (-1.9%), Avalanche (-3.5%), Shiba Inu (-3.2%), Chainlink (-4.5%), and NEAR Protocol (-4.3%).
Crypto Tracker
TOP COIN SETSNFT & Metaverse Tracker0.49% BuySmart Contract Tracker-0.75% BuyCrypto Blue Chip – 5-1.21% BuyWeb3 Tracker-2.65% BuyAI Tracker-4.97% BuyTOP COINS (₹) Tether84 (-0.2%)BuySolana13,842 (-0.48%)BuyBitcoin5,585,587 (-0.67%)BuyBNB48,682 (-1.57%)BuyEthereum216,345 (-2.14%)Buy”Bitcoin is currently range-bound, trading below $67,000 following profit-taking. Data from Binance shows that 53% of traders are shorting Bitcoin, reflecting rising bearish sentiment,” said Edul Patel, CEO of Mudrex.
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View Details »“For the bulls to regain control, Bitcoin must break the $68,000 resistance. On the downside, BTC has strong support at $66,700, which is providing a safety net for now,” he added.
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Shivam Thakral, CEO of BuyUcoin, noted, “Bitcoin saw a slight dip, settling around $67,000, as rising U.S. Treasury yields weighed on riskier assets. However, the crypto market is still thriving, as seen in the $2.2 billion inflow into Ethereum and Bitcoin ETFs last week, signaling strong institutional interest. If conditions stabilize, the outlook remains positive for Bitcoin and other cryptocurrencies.”
The total volume of stablecoins reached $64.98 billion, representing 91.84% of the total crypto market’s 24-hour trading volume, according to .
In the last 24 hours, Bitcoin’s market cap dropped to $1.323 trillion, while its dominance stood at 57.30%. Bitcoin’s 24-hour trading volume surged by 21.06% to $29.11 billion.
Sathvik Vishwanath, Co-Founder & CEO of Unocoin, added, “Today’s expected trading range for Bitcoin is between a support level of $66,000 and resistance at $69,000, reinforcing the bullish sentiment as long as key support holds.”
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times.)
