Major coins like Bitcoin and Ethereum saw a significant drop in value, fueling bearish sentiment worldwide. The total crypto market cap decreased by 2.48%, currently standing at $2.27 trillion.
Despite price declines, crypto trading activity surged by 45.66%, with volume reaching $105.01 billion. This increase highlights the ongoing interest and potential repositioning by investors.
Popular altcoins like Ethereum and Solana dropped by 3% to 6%, while memecoins like Dogecoin and Shiba Inu faced sharper losses of 4% and 6%, respectively. Smaller tokens such as PEPE and WIF saw even steeper declines of up to 8%.
Bitcoin’s share of the crypto market increased to 58.31%, as investors moved funds from altcoins into the relative stability of Bitcoin. This shift reflects a cautious stance amidst increased volatility.
Analysts suggest investors may see more fluctuations, with Bitcoin possibly testing new resistance levels.