Bitcoin USD price falls to five-day low after failing to surpass $90,000. Earlier this week, Bitcoin fell more than $7,000 in just 24 hours before rebounding above $90,000, even attempting to surpass $94,000 on several occasions. But that momentum has faded. After hovering around $92,000 on Friday, sellers stepped in again, pushing the price down to $88,000.
Crypto Crash Today: Ethereum, XRP, SOL, DOGE and ADA Crash as Altcoins Face Heavy Pressure
Altcoins are also feeling the pressure. Ethereum, which surpassed $3,200 on Thursday, is now sliding towards the $3,000 mark after a daily decline of 4.6%. XRP fell to $2.04, barely holding above key support, while SOL, DOGE, and ADA saw even steeper declines of up to 7.3%. Several tokens, including CC, APT, HYPE, PUMP, PEPE, and ENA, are down double digits, and assets like WLD and AVAX are down almost 9%.
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Crypto Market Cap Wipes $80 Billion in Hours
The market as a whole is clearly under pressure. The total market capitalization of cryptocurrencies wiped out $80 billion in just a few hours, reaching $3.1 trillion.
Cryptocurrency liquidations hit $500 million and 140,000 traders wiped out
Liquidations increased again, reaching $500 million over the past day, with $420 million coming from long positions, according to the CryptoPotato report. More than 140,000 traders were wiped out and the largest liquidation, an $8.5 million order, took place on Hyperliquide.
Fear and Greed Index Falls to 25 as Market Sentiment Turns Cautious
Sentiment also fell. The Fear and Greed Index fell to 25, signaling a cautious mood across the industry, and lower trading volumes reflect this hesitation, according to a report from Cryptodnes. ALSO READ: PCE Report: Inflation data cools in September – how will this affect the Fed’s interest rate decision in December?
BTC USD price today
Bitcoin remains the anchor of the market, but is not immune to the slowdown, currently trading at $88,838.36, down 1.7% in the last hour and almost 4% on the day. According to the report, the market capitalization of BTC USD remains around $1.77 trillion, suggesting a cooling phase after its recent surge.
Downward pressure dominates seven-day charts of major cryptocurrencies
For the moment, the atmosphere remains defensive. Seven-day charts for major cryptocurrencies show steady downward pressure, and the focus is on whether the fear will intensify or whether the market can stabilize enough for a potential recovery in the coming days, according to the Cryptodnes report.
FAQs
Why did Bitcoin price fall below $90,000?
Bitcoin fell as selling pressure returned, pushing it to a five-day low of $88,000.
How do altcoins work?
Most are in the red, with Ethereum, XRP, SOL, DOGE and ADA all seeing notable declines.
