Bitcoin and the wider crypto market have retreated to $87,000 mark from their October record highs, even as gold, silver and equity markets continue to move higher. The cryptocurrency was trading at $87,556 mark.
In the past 24 hours, Bitcoin went down by 1.18% whereas Ethereum went down by 0.89% to trade at $2,934 mark. Among the major altcoins, BNB, Solana, Tron, Cardano, and Hyperliquid were up by 4% in the past 24 hours whereas in the same time period, XRP, Dogecoin were down by 0.83% and 2.37% respectively.
Walke added that instead, it seems investors and institutions are adjusting their positions in response to rising geopolitical tensions, signs of a slowing U.S. economy and ongoing trade issues.
In the past week, Bitcoin and Ethereum were down by 0.93% and 1.78% respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, and Cardano fell upto 8% in the past week whereas Hyperliquid was up by 2.57% in the same week.
Nischal Shetty, Founder, WazirX said that in the last 24 hours, major crypto markets have continued to digest recent gains and positioning, with Bitcoin hovering near key levels and trading in a relatively narrow range.
“The price action reflects thin liquidity typical of year-end sessions, where subdued volumes keep major assets in a consolidation phase rather than fueling clear directional trends. This cautious backdrop is consistent with traders watching technical resistance levels and seasonal patterns.”
Curated by Ahmed Ibrahim
