The cryptocurrency market has recorded a minor overall decrease, with the majority of the top 100 coins showing losses over the past 24 hours as market capitalization fell 2.6% to $3.4 trillion. Bitcoin (BTC) remained relatively stable, declining only 0.4% and trading around $107,367. Ethereum (ETH) also declined by 1.5%, currently priced near $2,447. The largest drop among top tokens was seen in XRP, which fell 4.3% to approximately $2.09, struggling to break out of a months-long consolidation phase, with key resistance at $2.3.
Solana (SOL) also experienced a notable decline, with the SOL ecosystem dropping over 4%, and PayFi sector tokens declining similarly. Other altcoins like Tokenize Xchange (TKX) and Aptos (APT) bucked the trend with modest gains. Memecoins suffered as a sector with a 3.9% drop, led by SPX6900 (SPX) which slumped over 9%.
Market analysts highlighted positive regulatory and adoption developments globally, calming investors despite the dip. US Bitcoin spot ETFs have seen 13 consecutive days of net inflows, especially led by BlackRock, suggesting sustained institutional interest. Ethereum spot ETFs, in contrast, recorded outflows.
Additional macro factors influencing the market include easing geopolitical tensions, a weaker US dollar, reduced oil prices, and renewed expectations of US Federal Reserve rate cuts. An expert suggested Bitcoin could soon break out from its current $90,000 to $110,000 trading range and rise towards $130,000 if positive momentum continues.
Amid market volatility, the crypto Fear and Greed Index remains neutral, indicating cautious but not panicked investor sentiment. Recent regulatory and geopolitical events continue to shape price movements, but many analysts expect potential rallies ahead as the market digests both risk and opportunity.
