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The cryptocurrency market is losing ground: bitcoin and altcoins are under pressure
Over the past 24 hours, the cryptocurrency market has experienced a sharp correction, erasing the gains of the weekend. The total capitalization has decreased by 381 billion dollars and stands at 2.71 trillion dollars. The cause of the decline was concerns about a recession, exacerbated by the tariff policy of the Trump administration.
Bitcoin is losing the $85,000 level
Bitcoin (BTC) fell by 10.6%, dropping below $85,000, which was a worrying sign for investors. Currently, BTC is trading at $84,221, testing key support levels. If $82,761 is broken, the price may drop below $80,000, reinforcing the bearish scenario. However, if BTC manages to return above $85,000, a rise to $89,800 is possible, which could restore market confidence.
Cardano (ADA) – the main outsider of the day
Among altcoins, Cardano suffered the biggest losses, plummeting by 30%. At one point, the price dropped to $0.80, erasing much of the recent rally. If the bearish trend continues, ADA risks testing $0.77 and even $0.70. However, a recovery above $0.85 could pave the way for growth up to $0.99.
Investors should be prepared for further volatility as macroeconomic uncertainty continues to weigh on the market.