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Home»Market»Why is the crypto market down today?
Market

Why is the crypto market down today?

October 26, 2024No Comments2 Mins Read
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Why Is The Crypto Market Down Today 140 Million Liquidated In The Past 4 Hours.webp.webp
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Cryptocurrency Market Overview: The crypto market is under pressure today, with the total market capitalization falling by 1.80% to $2.27 trillion. This fall comes in view of persistent geopolitical tensions between Israel and Iran. This slowdown is accompanied by a sharp increase in trading activity, with 24-hour volume climbing 45.29% to $105.1 billion.

The Fear & Greed Index sits at a neutral level of 50, reflecting an uncertain atmosphere. Although BTC’s dominance increased by 0.47% to 58.31%, suggesting greater market control by Bitcoin, the altcoin’s performance continues to show volatility, with a score of 30 for the Altcoin Season Index, indicating a lack of solid traction for the altcoin in the near future.

Bitcoin Today: ETF Flows Rise as Prices Fall

Bitcoin (BTC) price suffered a setback, sliding 1.26% to $66,862.02 despite notable ETF inflows of $401.842 million, underscoring its continued appeal as a stronghold for institutional investors. However, 24-hour BTC trading volumes increased by 41.91%, suggesting a wave of active trading, but failing to keep BTC above critical levels. Traders could expect decisive moves as BTC’s sideways trend continues.

Curious to know the future price of BTC? Our Bitcoin price prediction answers this and more!

Altcoins face challenges amid market slowdown

Ethereum (ETH), the leading altcoin, saw its price drop 1.47% to $2,456.03 as ETF outflows reached $19.20 million. Solana (SOL), another market favorite, took a steeper hit, down 4.28% to $166.05, while XRP also fell 2.59%, now priced at 0, $5126. This broad decline in the altcoin signals a sense of caution and likely temporary price resistance in response to the overall market trend.

Wondering if ETH price will hit the $5,000 mark in 2024. Read our Ethereum price prediction for more details!

Top winners and losers

A few tokens generated gains, with Mantra up 2.28% to $1.29, followed by Tether Gold up 0.18%, now priced at $2,751.31. However, the top losers painted a different picture, with Celestia falling 10.96% to $5.27, and MEW and Wormhole falling 9.61% and 9.37% respectively.

As the market seeks more stability, all eyes are on BTC performance and institutional flows to gauge possible recovery signals. Investors remain on the lookout, ready to face these mixed signals in a volatile context.



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bitcoin
Bitcoin (BTC) $ 104,372.96
ethereum
Ethereum (ETH) $ 2,507.07
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.15
bnb
BNB (BNB) $ 652.99
solana
Solana (SOL) $ 153.76
usd-coin
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dogecoin
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tron
TRON (TRX) $ 0.268173
cardano
Cardano (ADA) $ 0.668602