Market Update: Bitcoin and Altcoins Slide as Investors Take Profits
The crypto market opens the new trading week with solid profit-taking.
The crypto market opens the new trading week with solid profit-taking. The total market capitalization fell 2.2% in 24 hours, slipping back below the $4 trillion mark.
Market leader Bitcoin shed about 2% to around $115,000, about 5% lower than a week ago. The top-10 altcoins also followed this downbeat trend: Ethereum, XRP, Dogecoin and Cardano are down roughly 4%, while Solana bears the heaviest blow with a 6% drop.
Among the top 100, Mantle was the biggest loser with more than a 12% loss. On the other end of the spectrum, Monero rose nearly 5% to become the top performer.
Sentiment cooled as well. The Fear & Greed Index fell eight points over the past few days and is now at 60, still in the “greed” zone, but clearly weakened.
According to analyst Rekt Capital, a correction isn’t out of the question. Bitcoin has likely been in its second uptrend of the current price-discovery phase for six weeks. In previous halving cycles, this phase typically ended after five to seven weeks. “Week 7 starts tomorrow,” Rekt Capital wrote on X. “If patterns repeat, a correction could follow now.”
On the other hand, institutional demand remains strong. ETFs posted record inflows again last week in the billions of dollars.
