Bitcoin and Ethereum remain under pressure, dropping 0.33% and 0.63%, losing momentum as market sentiment turns bearish.
BNB defies the trend, gaining 2.90% while most other top altcoins, including Solana, XRP, and Cardano, slipped amid volatility.
Regulatory updates bring cautious optimism, with SEC’s innovation framework and major bank investments in blockchain signaling long-term confidence.
Crypto prices today reflect a bearish mood as major coins slipped despite encouraging regulatory updates. Bitcoin and Ethereum led the decline, while BNB managed rare gains. Investors remain cautious as volatility persists, with traders watching key support levels for further direction. Let’s delve into detail about how crypto prices performed today based on CoinMarketCap data.
Bitcoin (BTC) price is trading downward, currently at $112,229.67, a 0.33% decline in the last 24 hours. The world’s largest cryptocurrency is struggling to stay above the key support level of $112,500, which has investors worried about more possible losses. It has a market cap of $2.236 trillion and trading volume exceeding $50.5 billion.
According to Yahoo Finance, the Relative Strength Index (RSI) has dropped below the neutral 50 mark. If selling pressure continues, Bitcoin could fall to the $110,000 support level, which would be an important psychological mark for investors.
Crypto prices today showed a mixed trend among the top ten cryptocurrencies. Most tokens dropped in value, but BNB stood out, gaining 2.90% to reach $1,010.04. Hence, making it one of the few winners in today’s market.
Ethereum (ETH) price was down 0.63% to $4,148.97. It remains the second-largest cryptocurrency by market capitalization at $500.79 billion. Ethereum also showed strong activity with a trading volume of $35.49 billion, which suggests strong institutional interest.
Solana (SOL) price was hit harder, dropping 3.27% to $208.18, leaving its market cap at $113.10 billion. XRP price fell 0.37% to $2.84, staying the fourth-largest cryptocurrency with a market cap of $170.14 billion. It continues to trade in a steady range, even as regulatory issues continue.
Other important movements included:
Tether (USDT): $1 (-0.07%)
USD Coin (USDC): $0.9997 (-0.02%)
Dogecoin (DOGE): $0.2367 (-0.98%)
TRON (TRX): $0.3362 (-1.38%)
Cardano (ADA): $0.8079 (-1.13%)
Also Read: Crypto Prices Today: Bitcoin Price at $112,590, Ethereum Sinks 2.59% as XRP Trades at $2.86
According to AInevst, Story (IP) token was one of the gainers today, surging 12.5% to $11.86. This shows investor confidence in the market despite the recent pullback.
The US Securities and Exchange Commission (SEC) is working on a new ‘innovation exemption’ as reported by CoinDesk. This could make it easier and faster for crypto products to get approval. SEC Chair Paul Atkins stated during a Fox Business interview that this framework could be ready by year-end.
The idea is to give crypto firms temporary relief from old securities rules while new ones are being created. The move comes right after the approval of the first multi-asset crypto exchange-traded product (ETP), which includes Bitcoin, Ethereum, XRP, Solana, and Cardano.
Fnality, a London-based blockchain payments firm, raised $136 million in Series C funding as per a Bloomberg report. The round was led by top financial players, including Bank of America, Citi, and KBC Group. This shows that institutions are increasingly confident in blockchain-based settlement systems. The money will help Fnality expand into US dollar and euro markets, after already launching a sterling-based payment system in the UK.
The Commodity Futures Trading Commission (CFTC) has suggested allowing stablecoins to be used as collateral in US derivatives markets. This could make it easier for regular investors to enter. At the same time, FTX Trust has taken Genesis Digital to court to recover $1.15 billion in what it says were fraudulent transfers. This is part of FTX’s ongoing effort to pay back creditors.
Crypto prices today continue to show high volatility despite favourable regulation developments. If the market manages to defend current support levels and positive regulatory news continues, there could be a relief rally. This might bring back investor confidence in the short term. Investors should keep an eye on macroeconomic developments to gauge what to expect from the crypto market in coming days.
1. Why is the crypto market down today?
Crypto market today shows bearish trends mainly due to increased selling pressure, uncertainty around regulations, and investor caution. Even though positive regulatory news surfaced, global market cap fell, showing fragile investor sentiment.
2. How did Bitcoin and Ethereum perform today?
Bitcoin dropped 0.33% to $112,229.67, struggling to stay above its $112,500 support, while Ethereum fell 0.63% to $4,148.97. Despite declines, both retained dominance with strong trading volumes indicating institutional interest.
3. Which altcoins stood out in today’s market performance?
BNB outperformed, rising 2.90% to $1,010.04, standing as a rare gainer in a mostly red market. On the other hand, Solana and Cardano faced sharper losses, reflecting broader altcoin weakness.
4. What regulatory updates are impacting the crypto market now?
The SEC is working on an ‘innovation exemption’ framework to ease crypto approvals. At the same time, CFTC proposed stablecoins as derivatives collateral, while Congress pushes for retirement plan crypto access.
5. What is the short-term market outlook for crypto prices today?
Analysts see the $112,500 as crucial support for Bitcoin and determining the market direction. If selling continues, it may dip below $110,000 according to expert reports. However, strong regulatory progress could spark a rebound above $112,500 in the coming sessions.
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