The crypto market is currently experiencing a pullback, with traders speculating that President Donald Trump's inauguration has triggered a "sell the news" event. Over the past 24 hours, the total market capitalization dropped by 2.98% to $3.53 trillion**, while trading volume declined by **24.92%** to **$147.07 billion. Despite the downturn, the Fear & Greed Index remains at a "Greed" level of 60, indicating lingering bullish sentiment.
Bitcoin Faces ETF Outflows Amid Market Decline
Bitcoin’s price has retreated from its 24-hour high of $105,908.98** to **$102,465.93 at press time. This dip coincides with $95.62 million in outflows from Bitcoin ETFs on January 22, 2025. Key metrics:
- Market dominance: $2.03 trillion
- Trading volume: Down 22.97% to $59.01 billion
👉 Wondering where Bitcoin heads next? Explore key trends here
Altcoins Mirror Bitcoin’s Downtrend
Most major altcoins followed Bitcoin’s downward trajectory:
- Ethereum (ETH): -3.23% ($3,214.02)
- Solana (SOL): -2.56%
- XRP: -0.83%
Top Performers Defy the Trend
- PENGU: +6.67%
- XDC Network: +4.15%
- Gate Token: +3.74%
Biggest Losers
- AI16Z: -22.11%
- MELANIA: -19.40%
- FARTCOIN: -18.65%
The market’s decline suggests profit-taking and lower liquidity in major assets, potentially signaling a consolidation phase.
FAQs
1. Why is the crypto market down today?
The downturn stems from Bitcoin ETF outflows, reduced trading activity, and uncertainty around macroeconomic factors like regulatory shifts post-Trump’s inauguration.
2. What is Bitcoin’s current price trend?
Bitcoin fell 3.07% in 24 hours to $102,465.93, with trading volume down 22.97%.
3. Which altcoins gained today?
Top gainers: PENGU, XDC Network, and Gate Token.
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