Bitcoin dipped below $88,000 as selling pressure pushed the entire crypto market lower.
Ethereum broke the $3,000 level, signaling weaker sentiment across major altcoins.
Extreme fear, global market stress, and policy uncertainty in the US and India deepened the market-wide decline.
Crypto prices today traded in the red zone amid rising trade-war fears and global market uncertainty. Bitcoin was trading at $89,434 at press time. Ethereum and the world’s top ten coins were on a downtrend. Stabelcoins, however, offered the much-needed liquidity needed in such a volatile scenario. Find out what happened in the crypto market today based on CoinMarketCap data.
Bitcoin price fell 2.95% to trade at $89,434.04, briefly dropping below the $88,000 level before recovering. The world's largest cryptocurrency by market cap continues to hold above $1.78 trillion in total value, with 24-hour trading volume reaching $57.2 billion. The recent decline comes as selling pressure increased across the board, pushing the total crypto market capitalization down more than 3% in a single day.
CoinSwitch Markets Desk noted, “The broader crypto market is down around 3.8%, with BTC briefly slipping to $88,000 before recovering toward $89,000. The last 24 hours saw roughly $1 billion in liquidations, largely concentrated in Bitcoin and ETH, which together accounted for about $830 million, reflecting a sharp leverage unwind.”
CoinSwitch analysts further added, “Sentiment weakened due to US-Europe trade tensions tied to Greenland and tariff concerns, reinforcing a global risk-off tone. Investors continued rotating into safe havens, pushing spot gold above $4,800. Technically, Bitcoin is finding short-term support near $88,000; holding this level could enable a bounce toward $89,500–$90,000, while a breakdown risks a move toward $87,500.”
Ethereum price slipped 6.33% to $2,979.80, breaking below the key $3,000 psychological level that many traders watch closely. The second-largest cryptocurrency saw heavy trading activity with over $34 billion in 24-hour volume. Earlier in the session, Ethereum was trading above $3,000 before the selling pressure intensified.
Crypto prices today showed weakness, with most top ten tokens posting declines. Solana price dropped 4.27% to $127.72, despite showing strength over the past week. XRP price fell 3.23% to $1.90, continuing to struggle around the $2 level that has become a major resistance zone for the token.
At the same time, Cardano dropped 2.25% to $0.3585. BNB fell 5.07% to $880.26, and TRON lost 4.35% to trade at $0.2977. Dogecoin, the popular meme coin, declined 1.96% to $0.1254.
Among stablecoins, Tether (USDT) held steady at $0.9988. Meanwhile, USDC was trading steadily at $0.9997. The coin showed a slight 0.02% gain, the only green number among the world’s top ten cryptocurrencies.
Also Read: Bitcoin News Today: BTC Faces Downside Risk as Analysts Flag Possible Slide Below $60,000
Here are the top headlines impacting crypto prices today:
The Crypto Fear & Greed Index has crashed to 24, signaling extreme fear among investors, according to Coinglass data. The index dropped six points from yesterday, showing how quickly sentiment can shift during volatile periods. The seven-day average stands at 44, indicating more neutral conditions over the past week, while the 30-day average sits at 31, pointing to ongoing caution.
Patrick Witt, executive director of the President's Council of Advisors for Digital Assets, called on US lawmakers to fast-track the Crypto Market Structure Bill. He warned that delays could waste the current crypto-friendly administration's momentum and lead to more restrictive rules later.
The push comes after Coinbase withdrew its support for the current draft over concerns about tokenized equities, DeFi privacy, and stablecoin yield rules. The Senate Banking Committee has postponed its markup hearing as a result.
Blockchain analytics firm Glassnode revealed that XRP's current on-chain setup looks similar to early 2022, just before the token entered a prolonged decline. Newer buyers from the past week to month are sitting on profits, while holders from six to twelve months ago remain underwater.
The $2 level has become critical for XRP, with each recent test of that price showing $500 million to $1.2 billion in weekly realized losses. This shows that many long-term holders are using price rallies to exit rather than add to their positions.
Regulatory developments in India, particularly the country’s Union Budget 2026, are making investors cautious.
Mr. Abhay Agarwal, Founder of Getbit, commented, ‘’India currently has over 100 million crypto users, making it the fastest growing user base in the world. This growing user base, combined with increased regulation and policy clarity around crypto, has produced an active digital asset economy that is already growing faster than other countries around the world. As such, there are many positive indicators that the crypto space will continue to grow in India.”
He further added, “We expect the government to provide additional leadership on the regulatory side of the crypto industry with respect to the upcoming 2026 budget. Specifically, we are looking forward to a dedicated Crypto Bill as well as alignment of SEBI guidelines for companies that hold BTC on their balance sheets.”
While talking about the current tax framework for crypto, Abhay said, “In addition, we would expect some type of reasonable tax rationalization under an appropriate regulatory framework for crypto. We also see a very positive economic impact of revisiting the implementation of the 1% TDS alongside the 30% capital gains tax, more specifically, to allow for increased liquidity, continued innovation, and to allow for continued oversight of the space. Implementing these changes would position India as a world leader in the compliant crypto finance space.”
The Founder of Getbit concluded, “Implementing these types of changes would keep capital in India, allow for rapid growth of the country's capabilities in innovation, and give India a great opportunity to take on the role of a thoughtful and responsible leader of the emerging digital asset economy and create immense wealth for millions of individuals.’’
Also Read: Next Big Altcoins: 3 High-Potential Coins Beyond Bitcoin & Ethereum
Crypto prices today face continued pressure as extreme fear dominates investor sentiment and technical levels break down. The coming days will test whether Bitcoin can hold above $89,000 and if Ethereum can reclaim $3,000, while regulatory clarity and global market stability remain key factors for any sustained recovery.
1. Why did the crypto market fall today?
Investor fear is rising in the cryptocurrency market amid global uncertainty. The increased risk-off sentiment among investors was driven by weak performance in traditional markets, ongoing trade tensions, and stable bond markets. When confidence has declined, investors typically liquidate other volatile asset classes, such as cryptocurrency, before any other asset classes.
2. Why is Bitcoin falling below $88,000 important?
The importance of Bitcoin falling below $88,000 is paramount. The $88,000 threshold for Bitcoin is a major psychological and technical level that traders monitor. An aggressive breakdown through this level generates additional aggressive selling of Bitcoin through the triggering of stop-loss orders and the liquidation of long positions by short-term traders.
3. Why is Ethereum price down today?
The decline below $3,000 for Ethereum was driven by broader market selling, which triggered significant selling pressure at this price level. As a result, this price level is an important support level for most traders. Additionally, the significant increase in ETH trading volume likely indicates that many Ethereum investors utilised BTC's price weakness to take action to protect their crypto investments, amid a growing sense of global market fear.
4. What does the Crypto Fear & Greed Index at 24 mean?
The Crypto Fear & Greed Index currently indicates extreme fear, with a reading of 24. This means that the vast majority of crypto investors are feeling very nervous and cautious. In fact, extreme fear typically arises from rapid declines, but it can also signal potential long-term buying opportunities for investors with longer-term patience.
5. Could crypto prices recover soon?
It can happen, but it will depend on how well the market regains its faith in the cryptocurrency market as a whole. Bitcoin must hold key support levels, and Ethereum must re-establish itself above $3,000. A market looking towards a more regulatory-compliant future and greater stability in the world economy will both be strong indicators of a stronger recovery going forward.
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