Crypto Crash: Bitcoin, Ethereum Plummet, Altcoins Follow Suit

Bitcoin and Ethereum, two of the world's leading cryptocurrencies, have experienced a significant downturn in recent days. Bitcoin, the largest cryptocurrency by market capitalization, has fallen below the $99,500 mark, while Ethereum, the second-largest, has dipped below $3,100. This decline has led to a general feeling of uncertainty among investors in the cryptocurrency market.

Bitcoin, the market leader, is currently priced at $99,780, showing a slight 2.59% gain in the last 24 hours. However, this gain is not enough to offset the overall decline in the cryptocurrency market. Ethereum, at $3,104, has seen a 5.93% drop in the last 24 hours, signaling broader weakness across the altcoin market.

XRP, another major cryptocurrency, has also faced a decline, despite an initial rally. It is currently priced at $2.85, down 6.47% in the past 24 hours. Similarly, Solana (SOL) has had a rough patch, with a 9.57% decrease over the past 24 hours and 18.75% drop in the past week. Binance Coin (BNB) has followed the downward trend, seeing a 3.45% dip.

Tether (USDT) and USD Coin (USDC), the major stablecoins, have remained stable at $1.00, but they are not benefiting from the market’s volatility. Other altcoins like Dogecoin (DOGE), Cardano (ADA), and TRON (TRX) have also struggled, showing minimal to moderate declines in the past 24 hours.

The total market cap of cryptocurrencies currently sits at $3.38 trillion, but the broader market sentiment remains weak. With Bitcoin dominance at 58.55%, many are waiting for the market to find direction, as investors are cautious in the face of the ongoing downturn. The Fear & Greed index sits at 54, hinting at a neutral stance amid uncertainty.