The allure of crypto seems to be dull as the market is declining sharply. Bitcoin and major altcoins are trading lower, as investors continue to reassess risk after last year's sharp rally. The total crypto market capitalisation at present is hovering around $3.12 trillion, with a 27% decline from late-2025 peaks.
Market participants point to narrow leadership by large-cap tokens, while mid- and small-cap cryptocurrencies have witnessed steeper drawdowns, reflecting cautious positioning amid geopolitical uncertainty and reduced speculative leverage.
Bitcoin Price Today: Down Nearly 30% From Record High Bitcoin (BTC), the world's largest cryptocurrency, was trading at around $88,214, down nearly 1% on the day. The decline leaves Bitcoin almost 30% below its all-time high of $126,296, which was recorded during the euphoric phase of the 2025 rally. At current levels, Bitcoin's market capitalization stands at approximately $1.76 trillion, with 24-hour trading volumes near $7.8 billion.Bitcoin had pushed the broader crypto market to a peak valuation of around $4.2 trillion in late 2025. "Bitcoin is trading near $89,700 as markets await a clear catalyst to set the next direction, with macroeconomic and geopolitical uncertainties keeping activity subdued.Despite this, the underlying sentiment remains constructive. Institutional conviction continues to show through, with Michael Saylor signalling further Bitcoin accumulation even at current levels.
Meanwhile, Ethereum is also drawing attention as exchange reserves have fallen to around 16.2 million ETH, the lowest since 2016, indicating reduced sell-side supply. For ETH, a sustained move above $3,100 could unlock momentum toward $3,400, while $2,850 remains a strong support zone." said Akshat Siddhant, Lead Quant Analyst, Mudrex.
Ethereum and Altcoins Mirror Broader Weakness
$BTC Ethereum (ETH) slipped below the $3,000 mark, trading at around $2,930, as selling pressure extended across the altcoin space. Ethereum's market cap now stands near $353 billion, with weekly losses approaching double digits.
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