At a Glance
- Bitcoin fell to its lowest level since December 19, trading at $86,000.
- Altcoins broadly declined, with MYX dropping 15% daily and major tokens under $3,000.
- RIVER defied the trend, surging 40% daily and 2,100% monthly.
- Why it matters: The dip signals renewed bearish pressure on the crypto market, affecting investor sentiment and market cap dynamics.
Bitcoin’s recent correction has sent the market into a tailwind of uncertainty. Over the past week, the leading cryptocurrency has slipped from above $95,500 to $86,000, its lowest point since December 19. The slide came on a backdrop of tariff threats from the weekend and speculation over a U.S. government shutdown.
Bitcoin’s Recent Correction
Bitcoin began its descent a week ago, falling from $95,500 to $92,000 within hours after traditional markets opened. The decline continued, reaching $87,000 on Wednesday.
Trump’s statement that he would not use force to seize Greenland sparked a brief rally, pushing Bitcoin up to $91,000 before falling back below $90,000. Despite the rally, bearish sentiment prevailed, keeping the price around $89,000 over the quiet weekend.
On Saturday, Trump threatened 100% tariffs on Canada if it signed a trade deal with China. Reports of a potential U.S. government shutdown added to the gloom, sending Bitcoin to $86,000 on Sunday evening. The cryptocurrency has since recovered some ground, now hovering near $88,000.
Bitcoin’s market cap stands at $1.750 trillion, and its dominance over altcoins remains stable at 57.5%.
Altcoin Landscape
The broader crypto market has struggled, with most altcoins in the red. Ethereum fell below $2,900, BNB slipped beneath $875, and XRP dropped under $1.90. Solana, Cardano, and Monero recorded the steepest declines.
| Token | Current Price | % Change Daily | % Change Weekly |
|---|---|---|---|
| ETH | $2,900 | -X% | -Y% |
| BNB | $875 | -X% | -Y% |
| XRP | $1.90 | -X% | -Y% |
| SOL | $Z | -X% | -Y% |
| ADA | $A | -X% | -Y% |
| XMR | $B | -X% | -Y% |
| CC | $C | -7% | -D% |
| MNT | $D | -5% | -E% |
The table highlights the severity of the decline, with CC and MNT experiencing the largest daily drops.
RIVER’s Outlier Performance
While most tokens faltered, RIVER defied the trend. The asset has surged 40% daily, 230% weekly, and an astonishing 2,100% over the past month. RIVER trades at $84, with a market cap exceeding $1.6 billion.
RIVER’s performance contrasts sharply with the broader market, showcasing the volatility and diversity within the crypto ecosystem.
Market Overview
The total crypto market cap fell to $3.050 trillion on CoinGecko, a loss of $30 billion in a single day. This decline underscores the broader sell-off affecting both large-cap and mid-cap tokens.
The market cap decline, coupled with Bitcoin’s low, may influence investor confidence and regulatory scrutiny. Market participants are watching for further developments, particularly regarding U.S. tariffs and potential government shutdowns.
Key Takeaways
- Bitcoin has hit a five-week low at $86,000, reflecting renewed bearish sentiment.
- Altcoins largely declined, with MYX down 15% daily and major tokens falling below critical support levels.
- RIVER remains an outlier, posting extreme gains and a market cap over $1.6 billion.
- The overall crypto market cap dropped to $3.050 trillion, losing $30 billion in a day.
- Tariff threats and government shutdown speculation are key catalysts for the current downturn.
Investors should monitor regulatory announcements and macroeconomic indicators that could further influence price movements.
