In the last 24 hours, Ethereum is down 4.74% to trade at $1,976. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Cardano, and Hyperliquid fell more than 4%. Global crypto market capitalization fell 3.14% to $2.32 trillion, according to CoinMarketCap.
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The sell-off appears to be driven by a combination of geopolitical pressures and macroeconomic pressures, creating a challenging environment for risk assets, said Delta Exchange research analyst Riya Sehgal.
Sehgal added that after the release of weaker-than-expected jobs data in the United States, many investors expected bitcoin to bounce back. However, the expected high-speed movement failed to materialize. Instead, Bitcoin briefly fell to $67,700, indicating that traders remain cautious despite what could otherwise be considered a supportive macro backdrop.
Over the past week, Bitcoin and Ethereum have risen 6.25% and 5.86% respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, and Hyperliquid gained more than 12%, while Cardano fell 2.75%.
Nischal Shetty, founder, WazirX, said that in the last 24 hours, Bitcoin has traded at around $68,355, while Ethereum has around $1,982, continuing with the broader crypto market attracting steady interest from both retail and institutional participants.
According to a weekly market research report by Binance, geopolitical tensions in the Middle East rattled markets over the weekend, sending Bitcoin to $63K, but the asset rebounded quickly, suggesting the market is being watched, not panicked.
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