Bitcoin hovered around the $65,000 level as renewed risk-off sentiment erased midweek gains, dragging the broader crypto market lower. Bitcoin was trading at $65,030, hovering near the $65,000 mark as cautious sentiment weighed on prices. Over the past 24 hours, Bitcoin declined 3.80%, while Ethereum fell 6.73%. Among major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid slipped up to 8%.
The global crypto market capitalization edged down 2.57% to $3.07 trillion, according to CoinMarketCap data. In the past week, Bitcoin and Ethereum dropped 4.89% and 4.14%, respectively. Major alts, including BNB, XRP, Solana, Tron, Dogecoin, Cardano, and Hyperliquid, recorded declines of up to 12%.
Nischal Shetty, Founder of WazirX, said Bitcoin is currently trading around $65,000 after briefly moving higher earlier in the week, adding that interest rate cuts now appear unlikely to act as a near-term bullish catalyst. He also noted that widening credit spreads and weakness in private equity markets are signaling broader caution across global financial markets. Riya Sehgal, Research Analyst at Delta Exchange, stated that crypto markets are showing tactical stability but remain structurally fragile.
She noted that Bitcoin continues to consolidate around $66,000 within a defined $63,000–$70,000 range, as rising exchange reserves and positive net inflows indicate lingering supply pressure. Ethereum, she added, reflects deeper stress, with negative taker volumes confirming liquidation-driven declines toward the $1,850 level. A sustained move above $2,150 would be needed to restore bullish momentum.
According to Binance Research’s Weekly Market Insights, despite challenging macro and sentiment conditions, multiple indicators suggest the market may be approaching a structural bottoming phase. The report added that macro data has recently taken a back seat as markets focus on AI-related disruption in the software sector, and a rebound in that segment could remove a significant headwind for crypto markets. Despite the broader market pullback, decentralized lending protocols continue to show stable on-chain activity.
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