Crypto Market Bloodbath: XRP Under $3, BTC, SOL, ETH and DOGE See Major Losses

Cryptocurrency Market Struggles Amidst Altcoin Declines

The cryptocurrency market is experiencing a downturn, with many altcoins within the top 10 experiencing significant losses. While Bitcoin (BTC) has shown some resilience, the overall sentiment remains uncertain.

Bitcoin, the market leader, trades at approximately $99,780, indicating a moderate increase of 2.59% over the last 24 hours. However, it has not yet reached the expected bullish momentum. Ethereum (ETH), at $3,104, has witnessed a 5.93% decrease, indicating broader weakness in the altcoin market.

Other major altcoins have also faced declines. XRP ($2.85) has witnessed a 6.47% drop, Solana ($SOL) has declined by 9.57% in the past 24 hours, and Binance Coin (BNB) has experienced a 3.45% dip.

Stablecoins Tether (USDT) and USD Coin (USDC) remain stable at $1.00, unaffected by the market's volatility. Other altcoins such as Dogecoin (DOGE), Cardano (ADA), and TRON (TRX) have also struggled, with varying degrees of decline over the past 24 hours.

The total market capitalization of cryptocurrencies stands at approximately $3.38 trillion, but broader market sentiment remains cautious. With Bitcoin dominance at 58.55%, investors are seeking market direction in the face of the ongoing downturn. The Fear & Greed Index indicates a neutral stance at 54, reflecting uncertainty amidst the volatility.