Bitcoin rejected at $85K and fell below $82K, dragging altcoins lower; total crypto market cap down $60B to $2.74T.
Macro & Markets ·
Bitcoin encountered selling pressure at $85,000 and subsequently declined below $82,000, with its market capitalization falling to $1.640 trillion. The broader altcoin complex sustained more severe losses, including Ethereum's drop to $2,400 and declines across major tokens such as BNB and XRP; monero (XMR) was the sole altcoin to post gains during the move.
The total cryptocurrency market cap contracted by over $60 billion to $2.740 trillion, reflecting the scope of the selloff. The rejection at $85,000 marks a critical failure to sustain momentum at a key resistance level, triggering capitulation across positions weighted toward risk assets.
What remains unclear is whether the decline represents a temporary correction or the start of a more sustained pullback, and whether support levels below $82,000 will hold or continue to give way in the near term.