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Crypto prices today, May 13, show a sharp downturn with Bitcoin trading just above $102K and Ethereum facing a 2% correction. The global crypto market cap dropped 1.6% to $3.92 trillion, led by losses in top altcoins like Solana, Dogecoin, and Cardano. While stablecoins like Tether and USDC held steady, speculative sentiment appears to be fading. Analysts caution that whale activity and macro pressures may continue to influence the price action in the coming days.
The crypto market today, as of 10.50 AM, took a bearish turn as overall capitalization fell to $3.92 trillion. Bitcoin slipped to $102,682, down 1.22%, and Ethereum lost 2.04% to trade at $2,460. Key altcoins like Solana and Dogecoin posted sharp drops of 3.09% and 7.69%. Stablecoins maintained price levels. Conversely, the broader market is reacting to investor profit-taking, reduced retail activity, and cautious macro sentiment.
Let’s delve into the factors driving the crypto prices today and the analysts’ opinion on the market outlook.
Bitcoin (BTC) is trading at $102,682.85, down 1.22% in the last 24 hours. It has a market cap of $2.03 trillion and a volume of $64.29 billion. According to market analysts, BTC may face resistance near $104,500 while support is likely around $101,000. Despite last week’s ETF inflows, today’s decline suggests a wave of profit-taking by short-term holders.
"The recent pullback in Bitcoin indicates a healthy cooldown after last week’s gains. However, on-chain metrics like declining wallet activity hint at waning retail enthusiasm in the short term," said Arvind Sharma, Head of Research at CoinSwitch.
Ethereum (ETH) price dropped to $2,460.63, marking a 2.04% decline over 24 hours. Its market cap stands at $297.07 billion, with trading volume at $32.48 billion. While Ethereum held steady over $2,500 through the weekend, Monday’s market correction erased some of the gains.
Experts say this could be attributed to cooling whale activity and a general retracement across Layer-1 tokens. "The excitement from the Pectra upgrade and recent ETH applications has temporarily faded, giving way to more organic market rebalancing," said Alankar Saxena, CTO of Mudrex.
Tether (USDT) and USD Coin (USDC) remained unaffected, each holding at $1.00 with minor gains of 0.02%. Their stable market behavior provided some cushioning amid the broader decline. Stablecoin dominance rose slightly, suggesting a shift to safer assets amid market uncertainty.
Tether Market Cap: $150.06 billion
USDC Market Cap: $60.87 billion
XRP was the only major altcoin in the top ten to show strength, rising 3.46% to $2.48. XRP is benefiting from renewed optimism around Ripple’s legal clarity and ecosystem expansion. It has a market cap of $145.35 billion and a volume of $11.04 billion.
"XRP’s move against the market is driven by optimism around cross-border payment developments and bullish investor sentiment from Asia," noted Avinash Shekhar of Pi42.
Most major altcoins posted losses:
Solana (SOL) is down 3.09%, now trading at $170.27
BNB (BNB) fell 1.29% to $648.01
Dogecoin (DOGE) crashed 7.69% to $0.2235
Cardano (ADA) dropped 3.58% to $0.79
TRON (TRX) declined 1.05% to $0.2631
DOGE’s double-digit weekend rally sharply reversed, with retail traders booking profits. ADA also suffered amid weak Layer-1 activity. Meanwhile, SOL continues to experience volatility due to frequent outages and validator debates. "The sell-off is not unexpected. DOGE and ADA were among the most overbought altcoins over the weekend, and the correction is consistent with RSI patterns," stated CoinDCX Research.
The broader market is experiencing a pause after last week’s risk-on rally. Market analysts believe today’s pullback is due to reduced buying interest, delayed ETF decisions, and macro uncertainties. Reports of whale redistribution and declining retail inflows also suggest growing caution.
While no major liquidations were recorded today, the overall trading volume points to consolidation rather than panic. "The crypto market is entering a temporary cooling phase. With earnings season ending and global equities showing fatigue, crypto is mirroring the broader sentiment," said Rahul Sinha, Crypto Economist at KoinX.
Crypto prices today reflect a broader consolidation phase with Bitcoin falling below $103K and Ethereum losing key support at $2,500. While stablecoins held their ground, major altcoins like DOGE, ADA, and SOL saw significant drops. Despite XRP’s rally, the overall market remains cautious, influenced by macroeconomic uncertainties and declining retail momentum. As the week progresses, investors will closely watch on-chain data and regulatory cues for the next direction.
