Price Analysis

Crypto Prices Today: Bitcoin Slips Near $88,000, Ethereum Below $3,000

Crypto Price Today: Bitcoin Slips Near $88,000, Ethereum Below $3,000 as Global Market Cap Stands at $2.99 trillion

Bhavesh Maurya

The total cryptocurrency market capitalization stands at $2.99 trillion, reflecting a 0.93% decline over the last 24 hours. The broader crypto market is seeing mild profit-taking after the recent rebound, with risk sentiment turning cautious across majors and selective weakness emerging in altcoins.

Trading volumes remain stable, but capital flows have slowed as traders reassess positions amid macro uncertainty and upcoming liquidity events. Large-cap assets continue to dominate activity, while speculative interest has cooled at the margins.

Bitcoin (BTC): Trades Near $88,000

Bitcoin is currently trading at $88,166, down 0.85% over the past 24 hours. BTC has slipped near the $88,000 level after failing to sustain momentum near recent highs.

Immediate resistance is seen near $89,500, followed by a stronger supply zone around $91,000. On the downside, support lies at $86,000, with a key demand area near $84,500.

Derivatives data show open interest at $59.77 billion, down 0.60%, indicating a reduction in leveraged exposure. Funding rates have eased to 0.0046%, suggesting neutral-to-slightly cautious positioning.

Spot Bitcoin ETFs recorded $19.64 million in net outflows as of the latest session, reflecting reduced risk appetite amid near-term market uncertainty.

Ethereum (ETH): Trades Below $3,000

Ethereum is trading at $2,954, down 1.59% over the last 24 hours. ETH has pulled back after failing to hold above the $3,000 psychological level.

Immediate resistance is located near $3,050, followed by a broader supply zone around $3,250. Key support sits near $2,850, with a stronger base around $2,720.

Ethereum derivatives open interest stands at $39 billion, down 0.21%, pointing to modest deleveraging. Funding rates have cooled to 0.0041%, indicating balanced positioning rather than aggressive bullish bets.

Spot Ethereum ETFs saw $28.10 million in net outflows in the latest data, indicating improving institutional confidence despite recent price volatility.

Altcoins:

Solana (SOL)

SOL is trading at $123.37, down 2.51% over the last 24 hours. Immediate resistance is seen near $128-$132, while support lies around $120-$116.

Network activity, DeFi usage, and validator performance remain key medium-term drivers.

Avalanche (AVAX)

AVAX is trading at $11.78, down 2.12% on the day. Immediate resistance is seen near $12.30-$12.80, while support lies around $11.40-$10.90.

Subnets adoption and institutional blockchain partnerships continue to influence price action.

NEAR Protocol (NEAR)

NEAR is trading at $1.44, down 1.91% over the last 24 hours. Immediate resistance is seen near $1.52-$1.60, while support lies around $1.38-$1.30.

Developer growth and AI-related narratives remain important catalysts.

Hyperliquid (HYPE)

HYPE is trading at $31.67, down 5.51% on the day. Immediate resistance is seen near $33.00-$35.00, while support lies around $30.20-$28.80.

Perpetuals trading volume, protocol revenue generation, and rising adoption of decentralized derivatives continue to shape sentiment.

Memecoins:

Dogecoin (DOGE)

DOGE is trading at $0.1217, down 2.06% over the last 24 hours. Immediate resistance is seen near $0.125-$0.130, while support lies around $0.118-$0.112.

Retail sentiment and broader market momentum remain the primary drivers.

Pepe (PEPE)

PEPE is trading at $0.000004822, down 3.47% on the day. Immediate resistance is seen near $0.00000510-$0.00000540, while support lies around $0.00000460-$0.00000430.

Speculative flows and social media-driven interest continue to dictate price action.

Market Outlook

The 0.93% decline in total crypto market capitalization suggests a pause in the recent recovery, with traders opting for caution rather than aggressive positioning.

Bitcoin holding above $86,000 remains critical for maintaining a constructive structure, while Ethereum needs to defend the $2,850-$2,900 zone to avoid deeper pullbacks. 

In the near term, markets are likely to remain range-bound as participants await clearer macro and liquidity signals.

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