Crypto Price Today: Bitcoin Falls Below $92K, Dogecoin Drops 8.88%
Bitcoin dropping below $92K, Ethereum struggling to hold $2,500, and Solana losing nearly 12% in a single day
Crypto Price Today: The cryptocurrency market remains highly volatile, with leading digital assets experiencing significant price movements. Bitcoin (BTC) is trading at $92,100, reflecting a 3.62% decline, while Ethereum (ETH) has dropped 7.64% to $2,504. Several altcoins, including Solana (SOL), XRP, Cardano (ADA), Dogecoin (DOGE), and Shiba Inu (SHIB), have also faced heavy losses amid market-wide bearish sentiment.
The sell-off comes amid global economic uncertainty, institutional profit-booking, and foreign investor outflows from riskier assets. Additionally, a security breach at a major exchange involving a $1.5 billion Ethereum theft has shaken investor confidence. Despite the downturn, the long-term fundamentals of leading cryptocurrencies remain strong, with ongoing developments in blockchain technology, decentralized finance (DeFi), and institutional adoption.
This article provides a detailed price analysis of Bitcoin, Ethereum, Solana, XRP, Cardano, Dogecoin, and Shiba Inu, along with key market trends and technical insights for investors.
Bitcoin Price Analysis
Bitcoin (BTC) is currently trading at $92,100, reflecting a 3.62% decline in the last 24 hours. The asset has witnessed a double digit drop from its recent peak of $109,000 observed in January 2025. The price decline follows a broader market sell-off, with several altcoins experiencing double-digit percentage losses.
The 24-hour trading volume of Bitcoin stands at approximately $51.34 billion, indicating high trading activity. Despite the downturn, Bitcoin's market capitalization remains above $1.8 trillion, reinforcing its dominance in the crypto market.
Factors Contributing to the Bitcoin Price Decline
Global Economic Uncertainty: The recent announcement of tariffs and trade restrictions by major global economies has introduced uncertainty in financial markets. Investors have been reallocating funds, affecting not just cryptocurrencies but also traditional asset classes.
Institutional Profit Booking: Large institutional investors who accumulated Bitcoin during the previous rally have begun taking profits. The liquidation of these holdings has contributed to the downward momentum.
FII Outflows and Risk-Off Sentiment: Foreign Institutional Investors (FIIs) have been withdrawing from riskier assets, including cryptocurrencies. The outflow of funds from equity and crypto markets has led to reduced demand for Bitcoin.
Crypto Exchange Security Concerns: A recent security breach at a major exchange resulted in the theft of $1.5 billion worth of Ethereum, shaking investor confidence across the entire market. Bitcoin’s price reacted negatively as traders became cautious about security vulnerabilities.
Market Liquidations: Approximately $887.85 million worth of crypto positions were liquidated in the past 24 hours, with a large portion being long positions on Bitcoin. The liquidation pressure accelerated the sell-off.
Technical Analysis and Future Outlook
Bitcoin is currently trading below key support levels of $95,000 and $94,000, indicating bearish momentum. If the price fails to hold above $90,000, further declines toward $88,500 or even $85,000 could be possible. However, if Bitcoin regains $95,000, a short-term recovery towards $98,000 - $100,000 is likely.
Long-term fundamentals remain strong, with institutional interest growing and Bitcoin ETFs gaining traction. If macroeconomic conditions stabilize, Bitcoin could regain momentum and potentially reach $150,000 by mid-2025. Investors should closely monitor global financial developments and on-chain metrics for further insights.
Ethereum (ETH) Price Analysis
Ethereum is currently trading at $2,504.13, experiencing a 7.64% decline in the last 24 hours. The asset has been under pressure due to broader market weakness and recent security breaches affecting investor confidence. A major exchange hack resulted in the theft of $1.5 billion worth of Ethereum, contributing to increased selling pressure. Despite the decline, Ethereum remains the leading smart contract platform, with ongoing network upgrades aimed at enhancing scalability and reducing gas fees. If Ethereum can hold the $2,450 support level, a rebound toward $2,650 - $2,750 is possible in the short term. However, further downside could push ETH toward $2,300.
Solana (SOL) Price Analysis
Solana has seen a sharp drop of 12.39%, bringing its price down to $139.66. This decline aligns with the broader crypto sell-off, with Solana being particularly vulnerable due to its high volatility. Despite network improvements and increasing adoption in decentralized applications (dApps) and NFT projects, investor sentiment remains weak. Solana’s price must hold above $135 to prevent further downside toward $120. A recovery above $150 could restore bullish momentum, with $170 being the next key resistance level.
XRP Price Analysis
XRP is currently priced at $2.29, reflecting a 8.03% decrease in the past 24 hours. The decline comes amid ongoing regulatory uncertainty and broader market weakness. XRP has struggled to maintain its momentum following positive legal developments in 2024. The asset faces strong resistance near $2.50, while $2.10 - $2.15 serves as key support. If market conditions improve, XRP could see a recovery toward $2.60, but continued selling pressure might push it below $2.00.
Cardano (ADA) Price Analysis
Cardano has dropped 7.48%, bringing its price to $0.6837. The asset remains under pressure despite increasing development activity and institutional interest. Cardano's recent upgrades have improved scalability, but the market downturn has overshadowed these advancements. $0.65 serves as an important support level, with a breakdown leading to further declines toward $0.60. A strong recovery above $0.72 could bring ADA back into bullish territory, with $0.80 as the next target.
Dogecoin (DOGE) Price Analysis
Dogecoin is down 8.88%, currently trading at $0.2107. As a meme-based cryptocurrency, Dogecoin tends to follow market sentiment, making it highly volatile. Despite ongoing adoption and use in payments, DOGE has struggled to maintain price stability amid the broader market correction. The $0.20 level is crucial support, and a break below it could push DOGE toward $0.18. However, if it manages to recover above $0.22, a short-term rally toward $0.25 could be possible.
Shiba Inu (SHIB) Price Analysis
Shiba Inu has declined 6.67%, with its price at $0.0000139. SHIB remains highly reactive to market trends and whale activity, leading to significant price swings. While its ecosystem continues to grow with the development of Shibarium, the recent market downturn has affected investor sentiment. Key support lies at $0.000013, and a breakdown below this level could lead to further losses toward $0.0000125. If the market stabilizes, SHIB could target a recovery toward $0.000015.
Investors should remain cautious and monitor global economic developments, market liquidity trends, and regulatory updates. As the crypto space evolves, staying informed is crucial for navigating price fluctuations and making strategic investment decisions.