The cryptocurrency market is experiencing a broad decline, with Bitcoin and Ethereum leading the downturn. As of midnight, Bitcoin traded at $63,071.39, down 2.17% from the previous day, while Ethereum fell 3.30% to $1,818.35, according to TokenPost Market data.
Altcoins and Market Cap Slide
Major altcoins also saw losses, with XRP down 2.47%, BNB dropping 3.08%, Solana falling 2.83%, Dogecoin declining 2.26%, and Tron slipping 0.15%. Hyperliquid posted the steepest loss among top tokens, plunging 8.54%. The total cryptocurrency market cap now stands at $2.167 trillion, with 24-hour trading volume reaching $63.49 billion. Altcoin market cap is $901.56 billion, with volume of $38.20 billion.
Bitcoin and Ethereum Dominance Weaken
Bitcoin's market dominance decreased slightly to 58.40%, down 0.05% from the prior day, while Ethereum's share fell 0.12% to 10.13%. The simultaneous decline in dominance for both major assets suggests a weakening risk appetite among investors, as capital appears to be moving away from large-cap cryptocurrencies.
DeFi and Derivatives Show Mixed Activity
Despite the bearish spot market, the DeFi sector saw a 10.91% increase in 24-hour volume to $9.12 billion, with its market cap at $64.42 billion. Stablecoin market cap remained steady at $281.71 billion, though trading volume dropped 5.50% to $65.59 billion. Derivatives trading surged, with 24-hour volume rising 4.07% to $711.32 billion, indicating sustained short-term trading demand even as spot prices fall.