Cryptocurrencies Retreat Today: Bitcoin Loses Support and Ethereum Breaks $4.500
- Bitcoin Falls to $121.700 After All-Time High
- Ethereum loses support and altcoins continue to fall
- Binance Coin (BNB) rises and takes 3rd place in the ranking
After a streak of gains since early October, the cryptocurrency market has faced a significant correction in the last 24 hours. Bitcoin (BTC), which recently reached a new all-time high above $126.000, fell back to $120.700 before recovering slightly and is currently trading at $122.958—a daily decline of approximately 2%.
The pullback comes amid investor uncertainty about whether this movement represents a natural correction or the beginning of a more prolonged downtrend. Still, strong inflows into spot BTC ETFs and the reduction in the volume of coins available on exchanges point to a possible recovery soon.
Bitcoin's market capitalization has also been impacted, falling to around $2,42 trillion. However, its market dominance remains stable at approximately 56,9%.
Among altcoins, Ethereum (ETH) performed even worse, falling 5% and losing the important support level of $4.500. Ripple's XRP retreated 4% to $2,86, while Solana (SOL) and Dogecoin (DOGE) saw losses of between 2% and 3%.
Plasma (XPL) was a negative highlight, leading losses among the 100 largest assets in the market with a decline of 11%. World Liberty Financial (WLFI) and Pi Network (PI) also showed significant declines of 9% and 8%, respectively.
Despite the widespread decline, some cryptocurrencies still managed to register gains. Binance Coin (BNB) rose 6%, surpassing XRP and USDT in the rankings and taking third place among the largest digital assets. PancakeSwap (CAKE), Mantle (MNT), and Aster (ASTER) also ended the day in positive territory.
The total cryptocurrency market capitalization fell 2% in the last 24 hours, reaching $4,27 trillion. This movement reinforces the sector's sensitivity to profit-taking and investor caution after recent strong gains.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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