- Bitcoin fell below $80,000 after another rejection near key resistance levels, triggering losses across the crypto market.
- BNB strengthened its lead over XRP by market capitalization while major altcoins posted sharp declines.
The crypto market turned red again after Bitcoin failed to break above key resistance levels and slipped below $80,000. The latest correction triggered losses across major altcoins, while BNB strengthened its position ahead of XRP in market capitalization rankings.
Bitcoin Falls to 10-Day Low
Bitcoin faced another rejection near the $81,000 level, continuing its recent struggle to maintain bullish strength. Earlier in the week, BTC climbed toward $82,500 after recovering from previous volatility, but sellers quickly regained control.
Following the release of the latest U.S. CPI data, Bitcoin dropped sharply below $80,000. The decline intensified yesterday after another failed breakout attempt near $81,250 pushed BTC down to around $78,750, marking its lowest level since May 4.
Although the asset managed to recover slightly afterward, Bitcoin remained down roughly 1.5% on the day at the time of writing. Its market capitalization also slipped to around $1.6 trillion, while Bitcoin dominance stayed above 58%, showing that altcoins continued to struggle even harder during the correction.
BNB Strengthens Position Above XRP
While most major cryptocurrencies posted losses, BNB emerged as one of the strongest performers among top assets.
Binance Coin recently reclaimed the fourth-largest cryptocurrency spot by market capitalization and continued widening the gap over XRP during the latest market decline. Over the past month, BNB gained more than 9%, pushing its market cap above $90 billion.
Meanwhile, XRP recorded a smaller monthly increase of around 4%, leaving its market capitalization near $88.5 billion. The growing difference highlighted stronger investor interest in BNB compared to XRP during the recent market slowdown.
Altcoins Suffer Heavy Losses
Several leading altcoins experienced deeper losses than Bitcoin as bearish pressure spread across the market.
Ethereum declined by roughly 1.5% and traded near $2,265, while Solana dropped more than 4% and struggled to hold above the $91 level.
Other cryptocurrencies, including Cardano, Chainlink, Stellar, Monero, and Uniswap, also moved lower during the sell-off. Internet Computer (ICP) recorded one of the largest declines among major altcoins after plunging by more than 9% in a single day.
The broader crypto market lost more than $40 billion in total value over the past 24 hours, with the overall market capitalization falling below $2.75 trillion.
Market Faces Renewed Pressure
The latest correction showed that crypto traders remain cautious despite Bitcoin’s recent recovery attempts. Strong resistance around the $82,000 region continues limiting BTC’s upside movement, while altcoins remain vulnerable to larger declines whenever Bitcoin weakens.
Investors are now watching whether Bitcoin can stabilize above the $79,000 range or if further downside pressure could trigger another broader market sell-off.
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