Most major cryptocurrencies recorded losses over the past 24 hours, with Bitcoin falling below the $85,000 mark amid renewed selling pressure across the market. According to CoinMarketCap, the price of Bitcoin declined 1.69% over the past 24 hours to $84,122.74. Despite the daily decline, Bitcoin remains up 0.95% over the past seven days and 5.70% over the past 30 days.
Ethereum fell 3.49% to $2,608.05, while BNB declined 1.91% to $766.64. Zcash dropped 1.72% to $1,317.63. Other major cryptocurrencies also traded lower.
Monero lost 0.72%, Bittensor declined 3.21%, and Solana fell 1.65%. Gold-backed PAX Gold (PAXG) moved against the broader market trend, rising 0.32% to $4,148.09. Analysts attribute the decline in the cryptocurrency market to several factors, including persistently high yields on US government bonds, geopolitical tensions and investor caution ahead of new signals on the US Federal Reserve's interest-rate policy.
Selling pressure was further intensified by the liquidation of more than $400 million in long positions within an hour after Bitcoin fell from around $85,500 to below $84,000, according to the report. The latest decline highlights the cryptocurrency market's continued sensitivity to US monetary policy expectations, bond yields and shifts in investor risk appetite. Here we are to serve you with news right now.
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