The cryptocurrency market experienced a general downturn on Wednesday, with most of the major digital assets posting moderate to sharp losses.
Bitcoin (BTC), the market's largest and most influential coin, slipped by approximately 1.76%, falling to $110,778. Despite briefly touching an intraday high of $113,538, the asset failed to maintain upward momentum and is now trading closer to its intraday low of $110,546.
Ethereum (ETH), the second-largest cryptocurrency by market cap, saw an even steeper decline. The token dropped roughly 3.46% to settle at $3,985.94. Ethereum's price action was similarly volatile, peaking at $4,203.06 before retracing sharply to near the day's low of $3,967.03. The drop comes amid rising uncertainty in broader financial markets, with ETH underperforming Bitcoin during this correction.
Ripple's XRP also participated in the market slump, shedding around 2.79% over the same period. The token is currently priced at $2.44 after reaching a high of $2.54 earlier in the session. The downward pressure suggests continued resistance for XRP at higher levels, despite recent attempts to break out of consolidation zones.
Litecoin (LTC) proved somewhat more resilient, with a relatively smaller decline of 1.37%. The asset is now trading at $94.30, just off its intraday low and below its peak of $99.56. While Litecoin often mirrors Bitcoin's moves, its lighter losses suggest a slightly firmer footing in the short term, possibly due to increased retail interest or technical support levels.
Dogecoin (DOGE), the meme-based cryptocurrency that frequently garners attention from social media hype, fell 2.27% in the last 12 hours. It is now priced at $0.19914, down from an intraday high of $0.2075. With growing concerns over market momentum and speculative interest waning, DOGE appears to be losing steam as traders shift focus to more established assets.
