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Crypto Market Today: Bitcoin Drops Below $85K as Altcoins Follow Suit

TLDR

• The crypto market today faces a bearish trend, with Bitcoin dropping 13.09% over the past week.
• Ethereum fell 14.83% in the past week and 10% in the last 24 hours and is now priced at $2,727.58.
• XRP sees a 16.75% decrease over the past week, with a 10.09% drop in the last 24 hours.
• Solana drops 11.34% in the last week and 11.57% in the last 24 hours, now priced at $126.73.
• Dogecoin declines 12.26% in the last week, with an 8.03% drop in the past 24 hours, priced at $0.1448.

For the last week, the crypto market has shown a sharp decline across various assets, reflecting a generally bearish sentiment. Leading cryptocurrencies such as Bitcoin, Ethereum, and Solana have experienced significant losses in recent days. The overall market movement points to a downturn, as major coins struggle to maintain value. At the moment, many assets are trading at their multi-monthly lows, indicating a clear bearish-dominated market.

Bitcoin  Sees Large Drop as Ethereum Follows a Similar Pattern

A deeper view of the current market trend today via CoinMarketCap confirms that Bitcoin (BTC) continues to experience notable losses, with its price decreasing by 13.09% over the past week. Currently, Bitcoin stands at $84,288.84. In the last 24 hours, it has fallen by 8.40%. This drop contributes to the broader market downtrend, reflecting the overall bearish sentiment for major assets.

Ethereum (ETH) has also faced significant declines. Over the past week, it has dropped by 14.83%, with a 10% decline in the last 24 hours. The price of Ethereum now sits at $2,727.58. This downward movement mirrors Bitcoin’s losses, emphasizing the market-wide downturn.

Additionally, XRP has seen a 16.75% decrease in the past week, with a 10.09% drop in the last 24 hours. The current price of XRP is $1.91. Solana (SOL) has also faced a sharp decline, falling 11.34% over the last week. Solana’s 24-hour decrease stands at 11.57%, bringing its price to $126.73. Binance Coin (BNB) has also struggled, experiencing a 9.75% loss over the last seven days. In the last 24 hours, BNB has decreased by 8.17%, bringing its price to $831.18.

Stablecoins Hold Steady as DOGE, ADA, and HYPE Struggle

USD Coin (USDC) and Tether (USDT) have shown minor fluctuations compared to other cryptocurrencies. USDT has remained almost unchanged, dropping 0.04% over the last 24 hours. In contrast, USDC has seen a slight decrease of 0.01% over the past week, maintaining a stable position in the market.

Dogecoin (DOGE) has dropped by 12.26% over the past week and 8.03% in the last 24 hours. Its current price is $0.1448. Cardano (ADA) has faced even steeper losses, falling 20.30% in the past week and 10.80% in the last 24 hours.

ADA is now priced at $0.4171. Hyperliquid (HYPE) has also decreased by 6.07% over the past week, with a 9.81% drop in the last 24 hours. Its price currently stands at $35.36. The data reveals a clear bearish trend across the market. Most cryptocurrencies are facing declines, indicating a challenging period for digital assets.

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