Major cryptocurrencies suffered a sharp drop amid the actions of the US regulator

Against the backdrop of growth in the stock market and the oil sector, key cryptocurrencies, including Bitcoin, Ethereum, XRP, and Dogecoin, lost ground. Thus, Bitcoin BTC $90,123.72 Mezo Wrapped BTC -0.82% Market capitalization $51.15 million VOL. 24 hours $1.42 billion dropped below $ 90,000, although it later returned to the level of $ 91,000. In total, more than $ 400 million was eliminated from the market over the day.

Ethereum ETH $3,073.72 Bridged Ether (StarkGate) -0.92% Market capitalization $71.05 million VOL. 24 hours $0.88 billion dropped to $ 3,104, XRP XRP $2.09 XRP -2.33% Market capitalization $126.84 billion VOL. 24 hours $0.25 billion - to $ 2.12, and Dogecoin DOGE $0.14 Binance-Peg Dogecoin -1.57% Market capitalization $0.36 billion VOL. 24 hours $0.1 billion lost more than 3% to trade at $ 0.1422. Solana SOL $136.04 Binance-Peg SOL -1.62% Market capitalization $0.15 billion VOL. 24 hours $0.56 billion was the only major coin to rise by 1.29% to $ 138.58. The decline occurred despite no significant changes in trading volumes.

Analyst Tony Gan of Santiment noted that the fear and greed index is still high at 74 out of 100. According to him, Bitcoin should hold the $ 90,000 level to avoid a further drop to $ 70,000. The current consolidation may prove to be technically important.

Other market participants point out that the overall mood remains unstable. Despite localized recoveries, investors are not showing a willingness to actively buy, waiting for clearer signals about the future course of the exchange rate.

Thus, the cryptocurrency market is in a phase of uncertainty, where further dynamics will depend on Bitcoin’s ability to maintain critical technical levels and the general mood of investors.