The total crypto market cap (TOTAL) maintained a decline, led by Bitcoin (BTC). On the altcoin front, Optimism (OP) is leading the decline with a 14% drop nearing ATL.
Why Is The Crypto Market Down Today?
The total crypto market cap (TOTAL) maintained a decline, led by Bitcoin (BTC). On the altcoin front, Optimism (OP) is leading the decline with a 14% drop nearing ATL.
In the news today:-
YZi Labs, formerly Binance Labs, accused asset manager 10X Capital of failing to comply with US securities disclosure requirements. The allegation centers on claims that 10X did not properly disclose ownership stakes as required under SEC rules.
Gemini has parted ways with its CFO, CLO, and COO amid broader operational cutbacks and workforce reductions. The announcement extended the company’s stock decline, raising fresh concerns about the exchange’s long-term outlook.
The Crypto Market Loses
The total crypto market cap fell $25 billion in the past 24 hours, now standing at $2.28 trillion. The market sits just below the $2.30 trillion level. Volatility remains subdued, yet bearish sentiment continues to weigh on digital assets across the broader cryptocurrency market.
TOTAL lacks clear directional momentum despite the release of Federal Reserve meeting minutes from Jan. 27-28. The muted reaction signals cautious investor positioning. If downside pressure persists, the crypto market cap could retest $2.28 trillion, reinforcing short-term consolidation near current support levels.
