Crypto Market Weakens: Bitcoin & Altcoins Correct Amid Negative Global Sentiment
The crypto market experienced a correction on Tuesday, with 98 of the 100 largest tokens by market capitalization declining in value. Bitcoin held around $117,600, and Ethereum also fell slightly to around $3,780. This decline was largely driven by risk-off sentiment amid increased global volatility, regulatory concerns, and a shift in market sentiment toward safe-haven assets like the USD and bonds.
Amid the general market pressure, several developments nevertheless caught public attention. Ripple (XRP) experienced a correction ahead of a potential major announcement expected to impact the token's price. Meanwhile, Solana (SOL) continued to attract investor interest, with its spot and staking ETFs raising over $100 million in just 12 trading days. This reinforces the potential for a surge in altcoins if institutional fund inflows increase.
Regulation remains a dominant factor influencing investor expectations. New stablecoin regulations (the GENIUS Act) are taking effect in the US, while the ruble-denominated stablecoin A7A5 saw a surge in cross-border transfers of up to $40 billion in less than two weeks in response to Western sanctions. Overall, while some tokens show upside potential, market sentiment is currently dominated by caution, awaiting regulatory direction, inflation data, and upcoming global monetary policy decisions.
Source: Newsmaker.id
