From Coinpedia · By Anjali Belgaumkar
The crypto market fell 4.62% over 24 hours to $2.21 trillion on Saturday, as tighter financial conditions pushed investors away from risk. Bitcoin dropped 5.03% to $65,139.39 and is down nearly 14% this week. Ether lost 5.5% to $1,817.97, Solana slid 9.08% to $72.28 and BNB fell 7.06% to $585.70. XRP dropped 5.98% to $0.9549, slipping below the $0.99 support level traders had marked as critical. The Fear and Greed Index sank to 15, signalling extreme fear. The main pressure is coming from outside crypto. The US dollar index has climbed to a 19-month high, and the 10-year Treasury yield reached 5.10% earlier this week. Crypto is also moving closely with the S&P 500, with a 75% short-term correlation. Spot Bitcoin ETF outflows and forced selling added to the drop, with $340.06 million in Bitcoin long positions liquidated in 24 hours and open interest down about 8%. The $2.20 trillion market cap level is now key. A break below could deepen the selloff, while holding it may allow selling to ease.
Advertisement
TagsCrypto news