Price Analysis

Crypto Prices Today: Bitcoin Slips Below $68,000, Ethereum Below $2,000

Crypto Price Today: Bitcoin Slips Below $68,000, Ethereum Below $2,000 as Global Market Cap Stands at $2.31 trillion

Bhavesh Maurya

The total cryptocurrency market capitalization stands at $2.31 trillion, registering a 2.72% decline over the last 24 hours. The broader market remains under pressure as renewed selling interest emerges across majors and altcoins.

While macro uncertainty continues to weigh on risk assets, derivatives data suggest leverage is gradually unwinding rather than cascading. Liquidations remain contained, but traders are still hesitant to deploy fresh capital, keeping price action range-bound.

Bitcoin (BTC): Trades Below $68,000

Bitcoin is currently trading around $67,741, down 2.65% over the past 24 hours. BTC has slipped below recent consolidation levels, signaling growing downside pressure as short-term momentum weakens.

Immediate resistance is now seen near $69,800, followed by a broader supply zone around $71,200. On the downside, key support lies near $67,600, with a deeper demand area around $65,500 if selling accelerates.

Derivatives data show Bitcoin open interest at $44.77 billion, down 1.46%, indicating continued deleveraging as traders reduce exposure. Funding rates have turned negative at -0.0019%, indicating short traders are paying long traders to keep their positions open.

Spot Bitcoin ETFs recorded $166.56 million in net inflows, suggesting institutional interest remains present, though more selective amid ongoing volatility.

Ethereum (ETH): Trades Near $2,000

Ethereum is trading near $1,976, down 4.26% in the last 24 hours. ETH has failed to hold above the $2,050, keeping price action trapped within a broader corrective structure.

Immediate resistance stands at $2,060-$2,090, while a stronger supply zone remains near $2,220. On the downside, initial support is seen around $1,960, followed by a more critical base near $1,860 if bearish momentum strengthens.

Ethereum derivatives open interest sits at $23.87 billion, down 5.57%, reflecting reduced speculative activity. Funding rates have turned negative at -0.00019%, signaling a slight bearish tilt in derivatives positioning.

Spot Ethereum ETFs recorded $13.82 million in net inflows, indicating steady but restrained institutional allocation.

Altcoins:

Chainlink (LINK)

LINK is trading at $8.40, down 3.31% on the day. Immediate resistance is seen near $8.90-$9.30, while key support lies around $8.10-$7.80.

Ongoing adoption of Oracle services and cross-chain integrations continue to underpin long-term fundamentals.

Polygon (MATIC)

MATIC is trading at $0.09023, down 4.51% in the last 24 hours. Immediate resistance is seen near $0.096-$0.102, while key support lies around $0.085-$0.080.

Layer-2 scaling demand and enterprise partnerships remain core drivers.

Near Protocol (NEAR)

NEAR is trading at $0.9767, down 2.81% on the day. Immediate resistance is seen near $1.02-$1.08, while key support lies around $0.94-$0.88.

Developer activity and AI-focused narratives continue to influence sentiment.

Litecoin (LTC)

LTC is trading at $52.66, down 2.17% in the last 24 hours. Immediate resistance is seen near $55-$58, while key support lies around $50-$47.

Its payment-focused use case keeps LTC relevant during defensive market phases.

Memecoins:

Bonk (BONK)

BONK is trading at $0.000005889, down 3.89% on the day. Immediate resistance is seen near $0.00000640-$0.00000690, while key support lies around $0.00000560-$0.00000510.

Community engagement and Solana ecosystem liquidity remain key drivers.

Floki (FLOKI)

FLOKI is trading at $0.00002936, down 3.42% in the last 24 hours. Immediate resistance is seen near $0.00003150-$0.00003300, while key support lies around $0.00002780-$0.00002600.

Marketing initiatives and ecosystem expansion continue to shape short-term moves.

Market Outlook

The 2.72% drop in total crypto market capitalization to $2.31 trillion suggests the market remains in a corrective phase rather than preparing for an immediate recovery.

Bitcoin must hold above the $67,500-$68,000 region to prevent deeper downside, while Ethereum needs to reclaim $2,050-$2,100 to stabilize broader altcoin sentiment. 

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