Bitcoin dropped to $80,200 after rejection at $84,000, wiping $100B from crypto markets as Ethereum, XRP, and altcoins declined 2%-6%.
Macro & Markets ·
Bitcoin experienced a sharp selloff, slipping to $80,200 after encountering resistance near $84,000. The pullback triggered a broader market contraction, erasing approximately $100 billion in total crypto value. Ethereum declined to a two-month low around $2,315, while alternative tokens including XRP, SOL, and BNB posted losses spanning 2% to 6%.
The cryptocurrency market's total capitalization fell to $2.710 trillion amid the downturn, according to CryptoPotato. Bitcoin's share of that total expanded beyond 60% as investors rotated from altcoins. Several lower-ranked tokens sustained particularly steep declines during the session.
The move leaves open whether the rejection at $84,000 signals a near-term ceiling or merely a consolidation before a fresh attempt higher. Support levels and the sustainability of Bitcoin's elevated dominance share remain key factors to monitor.