As of the latest trading session, the global cryptocurrency market capitalization stands near $2.3 trillion, reflecting a 2.4% decline in the past 24 hours. Total daily trading volume has hovered around $85 billion, down roughly 12% week-over-week, signaling cooling momentum and cautious positioning among institutional and retail investors alike.
Ethereum Slides Below Key Technical Levels
Ether, the second-largest cryptocurrency by market value, dropped to the $1,950–$1,980 range, marking a nearly 4.8% weekly decline. On-chain data shows a modest uptick in exchange inflows, suggesting some holders are moving assets to trading platforms often a precursor to selling pressure.
From a technical standpoint, ETH has slipped below its 20-day moving average, a short-term bearish indicator. Relative Strength Index (RSI) readings have also cooled from overbought territory near 68 last week to around 49, signaling weakening bullish momentum.
Ethereum’s market cap currently sits near $235 billion, accounting for approximately 10% of total crypto market dominance. However, that dominance has edged down slightly as broader uncertainty weighs on investor appetite.
XRP and Solana Underperform Broader Market
XRP posted one of the steeper drops among top tokens, sliding roughly 5% in the last 24 hours and nearly 9% over the past seven days. The token is trading in the $1.45 range, with 24-hour trading volume exceeding $6 billion. XRP’s volatility index has climbed above 65, reflecting increased short-term price swings.
Meanwhile, Solana fell approximately 4.3%, now trading near $92 per token. SOL remains one of the most actively traded altcoins, but derivatives data shows funding rates turning slightly negative a sign that short positions are increasing. Open interest in Solana futures contracts has dropped by nearly 7% week-over-week, indicating leveraged traders are trimming exposure.
Bitcoin Consolidates, Altcoins Bear the Brunt
Bitcoin (BTC), often viewed as the bellwether for the entire crypto sector, is trading near $67,800, down a modest 1.2% on the day. However, BTC dominance has ticked up to 52% of total market share, suggesting investors are rotating capital into relatively safer digital assets while shedding higher-risk altcoins.
Historically, when Bitcoin consolidates within a tight range currently between $65,500 and $72,000 altcoins tend to experience amplified volatility. This pattern appears to be playing out again, with ETH, XRP, and SOL absorbing the bulk of market downside.
Asia Tech Stocks Rally as Crypto Diverges
While crypto markets retreated, major Asian equity indices advanced on strong technology sector performance. Semiconductor and AI-related shares led gains, lifting regional benchmarks by roughly 0.5% to 1% across key markets.
This divergence highlights a fundamental difference in capital flows. Equity investors appear encouraged by corporate earnings and sector-specific growth narratives. In contrast, crypto traders remain sensitive to macroeconomic data and global liquidity conditions.
Macro Pressures Weigh on Digital Assets
Several macro factors are influencing the current crypto retreat:
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Interest Rate Uncertainty: Futures markets now price in lower probability of immediate rate cuts, tightening liquidity expectations.
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Stronger U.S. Dollar Index (DXY): The dollar has gained nearly 1.3% this week, often a headwind for risk assets like crypto.
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Declining Stablecoin Inflows: On-chain metrics show net stablecoin deposits to exchanges down approximately 15% month-over-month, signaling reduced fresh buying power.
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