#CreatorPad Today's main developments
1. Broad decline after U.S. inflation data
Bitcoin prices have fallen by between 2% to 3.85%, reaching around $119,000 after hitting a record high of over $124,000.
Ethereum fell by about 1.4% to 2.4%, dropping below $4,500 before bouncing back slightly.
The launch of an intense sell-off led to liquidated leveraged positions worth over $1 billion.
Meme coins were the most affected, recording sharp declines, such as PEPE, SPX6900, and Fartcoin, which dropped by more than 10%, leading the sector to losses of about 8.6% over 24 hours.
XRP fell by between 6% to over 7% to around $3.12.
2. Overall market condition
The decline has led to a total cryptocurrency market capitalization drop of about $133 billion, from approximately $4.15 trillion to around $3.96–3.98 trillion.
Despite the decline, some analysts consider it a 'healthy liquidation' after a strong rally, and not a sign of a long-term reversal.
3. Other impactful events in the market
Strong performance by Bullish (owner of CoinDesk), with shares rising by 84% at the IPO, then continuing to rise to $75.47, reflecting strong institutional confidence in the crypto market.
The American Bitcoin project, backed by Trump’s sons, is expanding into Asia to build a strategic Bitcoin reserve through investments in public companies in Japan and Hong Kong.
XRP is also experiencing strong movement, following a rise of about 40% last month, driven by expectations of ETF approval and a decrease in legal issues.
Live prices (real-time)
Bitcoin (BTC): current price around $118,836, down about 2.5% from the previous close.
Ethereum (ETH): price around $4,633, down approximately 2.42%.
Quick summary:
Main catalyst market reaction
U.S. inflation data (PPI) Rapid price decline and liquidation of speculative positions
Bullish technology sharp rise in the market capitalization of crypto stocks
Reserve strategies American Bitcoin expands to build a Bitcoin reserve in Asia
XRP Positive momentum despite the overall decline