As Bitcoin falls below the critical support level of $95,000, the cryptocurrency market continues to be shrouded in bearish sentiment today. Major altcoins are following the downward trend, with Bitcoin (BTC) down 3%, Ethereum (ETH) down 2%, and Solana (SOL) down 2.5%, leading to losses in various token trades. Notably, THORChain (RUNE) and Injective (INJ) have become the worst-performing tokens, both plummeting 11% from their intraday highs.
The overall market capitalization of the global cryptocurrency market has also shrunk by about 2% today, dropping to $3.33 trillion. Nevertheless, trading volume in the past 24 hours has seen a slight increase of 4%, reaching $168 billion.
1. Bitcoin market today: ETF outflows continue.
Bitcoin's current trading price is $94,527, having dropped 3% in the last 24 hours.
According to data provided by SoSo Value, the outflow of BTC ETF funds has reached $458 million. Fidelity has become a major driver of these outflows, selling $258 million worth of Bitcoin. Additionally, Ark and 21Shares sold $148 million worth of Bitcoin each. The flow of funds regarding the BlackRock ETF is still under close market scrutiny.
2. Ethereum market today: ETF outflows surge.
Ethereum price has dropped by 1.5% today, currently trading at $3,333. In the past 24 hours, the outflow of ETH ETF funds reached $159 million, with Fidelity's withdrawals accounting for a major portion, amounting to $147 million.
This trend reflects that the current cryptocurrency market is still affected by persistent bearish sentiment, with significant downward price pressure, while outflows from major institutional investors have also intensified market volatility.
3. XRP today in the market: the only one among the top ten tokens that is up.
XRP price is the only currency among the top 10 that is up, rising by 0.40% in the past 24 hours. Its trading price is $2.35.
In addition, Ripple's stablecoin RLUSD has been listed on the Bitstamp exchange, adding more utility to the XRP ecosystem.
4. Solana market today
Solana (SOL) price has dropped about 2%, currently trading at $194. Its 24-hour low and high were recorded at $189 and $199, respectively.
Today's cryptocurrency market is up.
1. XDC
XDC price has risen by 7%, currently trading at $0.0973. With a market capitalization of $1.45 billion and a trading volume of $59.35 million, XDC stands out in today's overall sluggish cryptocurrency market.
2. XMR
XMR is the second-largest gainer today, trading at $196, up 4%. Its market capitalization is $3.61 billion, with a trading volume of $86.49 million.
3. Hyperliquid (HYPE), GateToken (GT), and NEO tokens
Today the cryptocurrency market is also showing an upward trend, with each token rising between 2% to 4% in the last 24 hours.
Today's cryptocurrency market losses
1. RUNE
RUNE price has dropped 11%, currently trading at $3.94. This reflects the significant decline in the cryptocurrency market today.
2. INJ
The price of INJ has dropped by 11% in the last 24 hours, trading at $21.60. Despite the downward trend in the market, INJ's price has risen by 11% in the past quarter and by 13% in the past week as interest in AI tokens increases.
WIF, MOVE, AIOZ, and SPX have also dropped between 7% to 9% in the past 24 hours. This has intensified the overall bearish sentiment in the market.
