Today, the cryptocurrency market continues to face strong correction pressure as most major altcoins have significantly dropped in price. Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), and XRP have all recorded double-digit declines in the past 24 hours.
1. Bitcoin and Major Altcoins Plummet
Bitcoin (BTC) is currently trading around $82,361, down 4.37% from yesterday. This is a significant drop after BTC failed to maintain the support level of $85,000. Ethereum (ETH) is also following the trend, dropping to $2,054, losing 6.09% of its value. BNB fell by 6.37%, while ADA and XRP lost 9.19% and 8.55% respectively.
2. Reasons for the Decline
One of the factors affecting market sentiment is the news that U.S. President Donald Trump signed an executive order related to the strategic Bitcoin reserve fund. However, since this order does not include the government purchasing Bitcoin, investors reacted negatively. Additionally, data from the Fear & Greed Index shows that market sentiment is at an extreme fear level (10 points).
3. Market Outlook
Although the market is undergoing a strong correction, some experts believe this could be an opportunity to accumulate at better prices. Investors need to closely monitor economic and political news that may affect the upcoming price trends.
💡 Conclusion: The crypto market today is undergoing a deep correction phase. Investors need to be cautious, manage risks tightly, and be prepared with appropriate strategies in the context of strong volatility.
💡Note: This is a personal opinion, not investment advice. Investors should consider, research information, study the market, stay updated on news, etc. Wishing everyone success.
