The cryptocurrency market is trading under renewed pressure, with total market capitalization sliding to around $3.12 trillion, reflecting a daily decline of more than 3%.
The pullback comes as short-term selling intensifies across major assets, even as broader sentiment indicators suggest the market is cooling rather than entering panic territory.
Key takeaways
Total crypto market cap fell to about $3.12 trillion after a sharp daily sell-off.
Bitcoin and Ethereum are both lower on the day but remain positive on a weekly basis.
Market sentiment is neutral, with Fear and Greed holding at 49.
Altcoin participation remains limited, reinforcing Bitcoin’s dominance.
Bitcoin is hovering near $91,100, down just over 3% on the day. Ethereum has underperformed slightly, slipping more than 4% to trade around $3,150. Despite the red across shorter time frames, both assets remain positive on a seven-day basis, highlighting the disconnect between near-term volatility and the broader weekly trend.
Market sentiment remains balanced. The Fear and Greed Index is holding at 49, firmly in neutral territory, while the average crypto RSI has dipped to 49.45, indicating that the market is neither oversold nor overheated.
At the same time, the Altcoin Season Index has fallen to 22 out of 100, reinforcing that Bitcoin continues to dominate capital flows as risk appetite softens.
XRP stands out despite market-wide weakness
Among large-cap assets, XRP is a clear outlier. While the token is down more than 8% over the past 24 hours, it remains sharply higher on the week, posting gains of over 18%. This divergence suggests that recent selling is more likely profit-taking after a strong rally rather than a full breakdown in trend.
BNB and Solana are also under pressure on the day, falling between 2% and 5%, but both maintain solid weekly gains. Solana, in particular, continues to outperform on a seven-day basis, signaling that selective interest in high-beta assets has not disappeared entirely.
Overall, the data points to a market in consolidation mode. Short-term selling pressure is weighing on prices, but neutral sentiment readings and healthy weekly gains for several major assets suggest this move looks more like a reset than a structural breakdown.
Until momentum indicators shift decisively or macro catalysts emerge, traders appear content to de-risk selectively while keeping capital close at hand.
