Profit-taking activity continues to exert downward pressure on the cryptocurrency market, with Dogecoin (DOGE) and Cardano’s ADA leading losses among major altcoins. Despite the broader weakness, Bitcoin remains stable, and Tron (TRX) stands out as the only top-10 token showing gains.
Altcoins Face Renewed Selling Pressure
Dogecoin fell sharply to $0.18949, while ADA dropped to $0.68045, each leading the declines across the altcoin sector. Other major cryptocurrencies, including XRP, Solana (SOL), and BNB, experienced modest losses of around 1.5%.
Tron (TRX) managed to defy the trend, climbing 1.9% in the same timeframe, reflecting stronger technical resilience or isolated bullish sentiment.
Bitcoin (BTC), meanwhile, traded flat at around $104,729, finding near-term support above the $105,000 threshold despite broader market unease.
Regulatory Caution and Macro Uncertainty Weigh on Sentiment
Recent macroeconomic developments and regulatory caution have contributed to increased uncertainty for risk-on assets, including crypto. This has amplified short-term volatility, causing many investors to lock in profits after recent rallies.
Despite short-term headwinds, institutional interest in Bitcoin and Ethereum remains steady, as reflected in continued ETF inflows and strategic long-term allocations.
Market Sentiment: Still Greedy, But Cooling
The Crypto Fear and Greed Index currently stands at 62, indicating that the market is still in the “greed zone”, though it has edged down slightly in the past 24 hours.
This sentiment suggests investors remain cautiously optimistic, but growing profit-taking signals a potential shift toward consolidation or correction.
Bitcoin and Ethereum: Key Technical Levels in Focus
Market analysts note that Bitcoin’s recent bounce from $103,000 could mark the beginning of an upward move, with the potential to test new highs beyond $130,000, if momentum holds.
Meanwhile, Ethereum (ETH) is facing resistance at its 200-day moving average, currently near $2,700. A confirmed breakout above this level may reignite bullish sentiment across the altcoin market.
Conclusion
In summary, the crypto market is currently balancing between profit-taking pressure and long-term optimism. While Bitcoin shows signs of stability, altcoins like Dogecoin and Cardano remain under stress amid cautious investor behavior.
