The cryptocurrency market is currently in a range-bound phase, showing a clear downward trend as Bitcoin, the top digital asset, trades under the $108,000 mark. Ethereum faced significant pressure, falling below $3,900, as altcoins such as Zcash, Morpho, and Mantle experienced the worst of the selloff. Market analysts highlight rising US-China trade tensions and ongoing profit-taking as significant contributors to the overall market weakness. The recent pullback in Bitcoin appears to be a classic case of market exhaustion after reaching unprecedented peaks.
As of the latest update, Bitcoin is priced at $107,793, reflecting a decrease of 3.24 percent in the last 24 hours, with a trading volume reported at Rs 87.53 billion. During the session, the cryptocurrency saw variations, moving between $107,537 and $111,990. Despite this, its market capitalization remained steady at $2.14 trillion, reinforcing its status as a leader in the digital asset ecosystem. At present, Bitcoin is valued over 14 percent lower than its peak of $126,198, reached on October 7. In the last week, the asset experienced a drop of around 6.49 per cent, with a month-to-date decrease of 5.49 per cent. “Bitcoin’s struggle to maintain levels above $126,000, along with declining technical indicators and reduced ETF inflows, indicates a period of consolidation rather than alarm following recent record highs,” stated Riya Sehgal. “Market fluctuations continue to be high, indicating uncertainty as both buyers and sellers remain engaged.”
In the near term, we anticipate price fluctuations within a specific range, but fundamentally, Bitcoin’s essential characteristics remain robust. “Long-term investors are more likely to view any significant correction as a chance rather than a risk, especially with strong institutional adoption and network health,” Sehgal noted. Bitcoin is presently facing resistance in the $113,000–$115,000 range while stabilizing near support levels between $108,000 and $110,000. “Without a distinct trigger, markets might persist in a limited trading range, as participants keep a vigilant eye on macroeconomic trends for hints on possible breakout direction,” the desk remarked. Ethereum has fallen under the $3,900 threshold. Ethereum, the second-largest cryptocurrency by market capitalization, mirrored Bitcoin’s negative sentiment. In the latest update, the price stands at $3,854, showing a decrease of 4.3 percent over the past 24 hours, with a trading volume of $48.91 billion. The token varied between $3,829 and $4,079 during the session. Ethereum’s market value hit $465.07 billion. At present, Ethereum has dropped over 21 percent from its peak in August, which was $4,953.
The selling pressure has extended into the wider altcoin market, affecting a range of cryptocurrencies including Zcash, Morpho, Mantle, Pump.fun, Kaspa, SPX6900, Aave, Flare, PancakeSwap, Render, Pyth Network, Aptos, Bonk, Cronos, Filecoin, Pudgy Penguins, Story, Sei, Internet Computer, Aster, Sui, Artificial Superintelligence Alliance, Bittensor, Optimism, DoubleZero, Algorand, World Liberty Financial, Avalanche, FLOKI, and Monero, all of which experienced declines between 7 and 15 percent. Tether Gold and PAX Gold experienced modest gains, with increases of up to 4 percent. Ark of Panda, StrikeBit AI, Quq, Bitcoin, and PAX Gold have emerged as the most searched and trending cryptocurrencies.