Cryptocurrency markets traded under pressure on Wednesday, with major digital assets witnessing broad-based selling amid heightened volatility and profit booking.
Bitcoin declined over 2 percent to trade near $90,982, shedding nearly $1,915 in the last 24 hours. Despite the drop, the world’s largest cryptocurrency continued to command a market capitalisation of over $1.81 trillion, with trading volumes exceeding $39 billion.
Ethereum underperformed Bitcoin, sliding more than 3.3 percent to $3,160, erasing over $109 in value. The second-largest crypto asset saw strong activity, with volumes crossing $21.5 billion, indicating active repositioning by traders.
Altcoins Under Pressure
Selling pressure extended across major altcoins. XRP fell sharply by 4.4 percent to $2.17, while BNB declined nearly 1.7 percent. Solana slipped over 1.6 percent, trading near $137.6, and Cardano lost close to 3 percent.
Meme token Dogecoin also traded lower, falling about 1.7 percent.
Stablecoins and Select Gains
Stablecoins Tether (USDT) and USD Coin (USDC) remained largely flat around the $1 mark, reflecting limited volatility. TRON and Wrapped TRON posted modest gains of around 1 percent, bucking the broader market trend.
Bitcoin Cash emerged as one of the few notable gainers, rising over 1.2 percent to trade near $643.
Market Snapshot
The overall crypto market reflected a risk-off sentiment, with declines seen across Bitcoin-linked instruments such as Wrapped Bitcoin and Ethereum staking derivatives, both of which fell over 3 percent.
