- Among the main cryptocurrencies, Dogecoin took the lead with a loss of 5.75 percent.
- Bitcoin is priced at $92,770.58, reflecting a decline of 1.31% due to profit-taking pressures.
With a loss of 5.75 percent on the last day, Dogecoin plummeted to a trading price of $0.1740. The decline parallels drops in the broader market as Bitcoin, Ethereum, and XRP also lost significant amounts. Investing appears to be taking profits after recent gains fueled by uncertainties about tariffs hanging over global markets.
Bitcoin is currently trading at $92,770.58, representing a decrease of 1.31% over the same time period. While XRP is down 5.25% to $2.16, Ethereum follows with losses of 3.16%, trading at $1,755.43. The market slump comes in the backdrop of a change in trader sentiment as they begin to take profit after a steady upward trend earlier in the week.
Tariff Wars and Market Sentiment Drive Declines
The introduction of global tariff wars has shaken financial markets, and cryptocurrencies have felt the repercussions. Bitcoin, regarded as a safe haven, held steady above the $92,000 level. Nevertheless, a 1.31% decline signifies that BTC is also not immune to the current profit-taking wave.
Memecoin Dogecoin led the losses among major tokens. Its 5.75 percent drop illustrates how it is susceptible to market volatility. In the broader crypto market, tokens such as XRP, Solana’s SOL were down more than 2 percent and Ethereum dropped a milder 3.16 percent. This downward pressure has been contributed to by the corrections of bond yields and U.S. equities related to the tariff.
CoinMarketCap market data shows that the total cryptocurrency market capitalization also slid, as they were all affected by the profit taking. The global economic developments remain closely watched by investors, especially the tariff policies, which are affecting the risk assets such as cryptocurrencies.
Technical Indicators Signal Further Volatility
Technical analysis suggests that the recent price reductions might not have ended just yet. A selloff was triggered by the dogecoin breaking the key support levels, which contributed to its 5.75% decline. Meanwhile, XRP tanked to $2.16 and below key technical benchmarks, dropping 5.25% and posing greater declines if the broad market remains bearish.
Ethereum’s 3.16% retreat to $1,755.43 matches the retreat of altcoins. Bitcoin’s drop of 1.31% shows that long-term holders are still accumulating, but short-term traders are locking in gains.
The price movements in these assets have been amplified by the market’s illiquidity, a characteristic that is well known in the cryptocurrency market. For volatile assets like Dogecoin, small trades across exchanges can lead to big changes in prices.
