What started as a positive day for crypto markets quickly reversed during the U.S. session with bitcoin BTC$101,283.45 sliding below $103,000 from the $106,500 level just hours earlier.
At press time, bitcoin had pared some of the losses, returning to $103,200, down 1.2% over the past 24 hours.
Other large cryptocurrencies endured steeper declines. Ethereum's ether ETH$2,236.49 saw a sharp 4.5% drop in just 90 minutes to as low as $2,372, with trading volume spiking to nearly 800,000 ETH, nearly eight times the average hourly volume, per CoinDesk data. Solana's SOL SOL$133.37, dogecoin DOGE$0.15298 and Cardano's ADA ADA$0.54716 were 3%-5% lower over the same period.
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