Why all top ten cryptocurrencies by market cap fell today, none rose.

Ethereum (ETH): Largest drop, down 4.8%, price at $2,386.

Bitcoin (BTC): Smallest drop, down 0.9%, current trading price at $103,011, down from a daily high of $106,518 (one-week high).

Top 100 coins: Only 4 coins rose, Virtuals Protocol (VIRTUAL) performed best, up 4.5% to $1.82; Bittensor (TAO) had the largest drop, down 7.1% to $399, followed by Ethena (ENA), down 6.1% to $0.3569.

Liquidation-driven pullback: In the past 24 hours, the liquidation amount reached $669.12 million, triggering a market adjustment.

Highlights of the crypto market

Virtuals Protocol: A tokenized AI agent protocol based on Coinbase's Ethereum Layer2 network Base, announced "Base will see more traffic" and launched Arbus Token (Arbus AI market intelligence layer), boosting its price.

Technical and market analysis

Key price levels:

BTC's recent high was $104,400 in December 2024, currently oscillating around $103,000.

If it falls below $100,000 (psychological level) or $98,000 (technical level), it may further decline.

Glassnode report: $93,000-$95,000 is a key accumulation zone, and a short-term pullback may find support here.

Market sentiment:

The Fear and Greed Index is stable at 71, indicating optimistic sentiment but may suggest the market is overheated.

Spot BTC ETF continues to see inflows (as of May 16, net inflow of $608.4 million, led by BlackRock's IBIT), supporting prices.

Institutional dynamics:

Asia's largest corporate BTC holder Metaplanet increased its holdings by 1,004 BTC, bringing total holdings to 7,800 BTC, showing institutional confidence.

Operational advice

Short-term trading: Focus on $93,000-$95,000 support level, wait for stabilization signals to enter, and set stop-loss.

Long-term investment: Accumulate BTC on dips, pay attention to ETF inflows and policy dynamics.