The crypto market posted a sharp sell-off over the past 24 hours, with total market capitalization falling to $2.27 trillion, down 10.3% on the day. Total trading volume reached $341.8 billion. Market sentiment weakened at the same time, as the Crypto Fear and Greed Index dropped to 9, compared with 12 a day earlier and 16 a week ago, placing sentiment in the “Extreme Fear” range.
Bitcoin and Ethereum led the decline
Bitcoin was listed at $64,635.46, down 10.93% in 24 hours, with trading volume of $141.93 billion and a market capitalization of roughly $1.28 trillion. Another data point in the source showed BTC at $64,113.26, down 11.76%, with volume of $142.11 billion. Ethereum was quoted at $1,906.07, falling 11.9% over the same period, with $71.17 billion in volume and a market cap of about $229.84 billion. A separate figure in the same source put ETH at $1,896.21, down 12.04%.
Other large-cap tokens also moved lower. XRP traded at $1.24, down 16.29%; Solana fell to $77.29, down 16.25%; and BNB slipped to $620.69, a decline of 11.12%. Bitcoin’s market dominance stood at 56.3%, while Ethereum accounted for 10%.
DeFi fell 11.1% while stablecoin volume stayed elevated
In sector data, the decentralized finance market dropped to a total capitalization of $47.4 billion, down 11.1% in 24 hours. Trading volume in DeFi was reported at $11 billion, with global dominance at 2.1%. Stablecoins showed no positive change in the period, though their market capitalization was still $309.6 billion and trading volume reached $285.6 billion.
There were a few gainers despite the broader decline. Decred rose to $20.47, up 4.43%; MYX Finance climbed to $6.32, up 4.42%; and MemeCore traded at $1.50, up 0.95%. On the losing side, UNUS SED LEO dropped to $6.88, down 22.53%; Monero fell to $294.81, down 22.38%; and Optimism slid to $0.1777, a decline of 19.08%.
Mining pressure, ETF filing and Tether deals stayed in focus
The source linked the market weakness to several industry developments affecting liquidity and sentiment. Bitcoin mining profitability was described as being at an all-time low, with hash price at least as low as $0.03 per terahash. Energy costs were said to be adding pressure on miners globally. At the same time, Bitwise filed an S-1 with the U.S. Securities and Exchange Commission for a spot Uniswap ETF. Coinbase Custody is named as the asset custodian, and staking could be added later through an amendment.
Tether was also cited for multiple investments, including $100 million in Anchorage Digital and a 12% stake in Gold.com acquired for $150 million. The stated purpose was to support XAUT integration and test options for buying physical gold through USDT and USAT. The source also said volumes on Kalshi and Polymarket had risen to $17.5 billion.
The article added that Bitcoin was trading near $67,000 while moving below key averages and cost levels, increasing concern over miner capitulation. It also cited analyst scenarios pointing to possible downside targets of $58,000, $45,000, or $35,200. Those figures were presented in the source as market views, not investment advice.