Major cryptocurrencies remained under pressure on Tuesday, as a Bitcoin-led selloff dragged the broader digital asset market lower.
The total crypto market value fell to about $2.54 trillion, down over 3% in 24 hours, according to market data. Losses were led by Bitcoin, with Ethereum and XRP also declining sharply.
Bitcoin Breakdown Sets the Tone
Bitcoin slipped below an important support level around $75,000, triggering a wave of automated selling and forced liquidations across trading platforms.
Because Bitcoin accounts for nearly 60% of the total crypto market, its move lower had an outsized impact. More than $240 million in Bitcoin positions were liquidated in a single day, accelerating losses across other tokens.
Markets are now watching whether Bitcoin can hold the $72,000–$74,000 range. A sustained break below that zone could open the door to deeper declines, while stability could allow for a short-term rebound.
Ethereum Underperforms as Sentiment Weakens
Ethereum fell more sharply than Bitcoin, dropping nearly 4% over 24 hours and close to 28% over the past week.
Experts pointed to negative sentiment around the Ethereum ecosystem, including persistent short positioning and concerns about continued selling pressure. Funding rates on Ethereum derivatives have remained negative, suggesting many traders are betting on further downside.
Ethereum is now hovering near a key support area between $2,000 and $2,300. A clear move below that range could trigger another round of liquidations.
XRP and Altcoins Follow the Slide
XRP declined alongside the broader market, falling nearly 20% over the past week. Like many large altcoins, XRP has struggled to attract buyers as risk appetite fades. XRP is now trading near $1.55.
Analysts said the selloff has been broad-based, with Layer 1 tokens, DeFi assets, and high-beta altcoins all seeing sharp declines as traders reduce exposure.
Market indicators such as the Fear and Greed Index have dropped into “extreme fear” territory.
Macro Pressures Add to Volatility
Crypto markets have also been moving closely with traditional risk assets. Data shows a strong correlation between Bitcoin and U.S. stock indices, particularly the S&P 500, suggesting macroeconomic factors are playing a growing role.
Rising uncertainty around interest rates and capital flows has weighed on speculative assets, including cryptocurrencies.
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