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Crypto Today: Bitcoin, Ethereum, and XRP fluctuate as recession fears resurface
06/06/2025 12:00:00 GMT
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By
John Isige
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VERIFIED Translation
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Crypto Today: Bitcoin, Ethereum, and XRP fluctuate as recession fears resurface
The cryptocurrency market capitalization falls 4% to $3.3 trillion amid growing concerns over tariffs and global trade.
Bitcoin rebounds after testing support slightly above $100,000, reflecting weak sentiment in the cryptocurrency market overall.
Ethereum and XRP struggle to maintain a critical bullish structure amid a moderate recovery on Friday.
The cryptocurrency market operates amid weak sentiment and decreasing interest from traders, as well as retail and institutional investors. The outlook for Bitcoin (BTC) has remained bearish since it reached an all-time high of $111,980 on May 22. Meanwhile, the largest cryptocurrency by market capitalization sits around $103,477 at the time of writing, with an increase of nearly 2% on the day after a drop of more than 3% on Thursday.
The leading altcoins Ethereum (ETH) and Ripple (XRP) have not been immune to the bearish wave sweeping through the cryptocurrency market amid growing concerns over U.S. tariffs, their impact on global trade, and recession fears in the world's largest economy.
