BTC, ETH, ADA Price News: Bitcoin slides with ether and XRP as market tests $3 trillion floor
Cryptocurrency markets pulled back, pushing total capitalization below $3 trillion as institutional sentiment cools and major coins like Bitcoin and Ether declined.Summary
The cryptocurrency market experienced a broad pullback, causing total capitalization to dip below the $3 trillion mark for the third time in a month, signaling potential further weakness. Selling pressure was concentrated in large-cap assets with active ETF exposure, suggesting a shift in institutional positioning rather than widespread retail panic. Bitcoin fell 1.5% to $86,580, Ether dropped to $2,930, and XRP's recovery stalled around $1.90. Analysts suggest major coins are suffering from changing institutional sentiment as investors reassess year-end risk. This crypto weakness contrasted with moderate gains in Asian equity indices, which were bolstered by fiscal stimulus expectations from Beijing. Furthermore, the strengthening dollar index, following better-than-expected U.S. jobs data, typically weighs on dollar-denominated assets like Bitcoin. Market sentiment has deteriorated, with the Fear and Greed Index dropping to 11, and technical analysis suggests Bitcoin could test support near $81,000, with a deeper retracement exposing the $60,000–$70,000 region. Liquidity is thinning as traders reduce exposure near year-end, amplifying price moves, though on-chain data shows long-term accumulation by corporations and financial firms persists.
(Source：CoinDesk)