Leading cryptocurrencies stayed resilient on Tuesday while rising government bond yields weighed on stock markets.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.10% | $83,320.14 |
| Ethereum (CRYPTO: ETH) |
+0.20% | $2,668.20 |
| XRP (CRYPTO: XRP) | +1.40% | $1.49 |
| Solana (CRYPTO: SOL) | +1.90% | $119.07 |
| Dogecoin (CRYPTO: DOGE) | +1.40% | $0.09379 |
Crypto Market Holds Steady
Bitcoin held on to support in the mid-$82,000 region, while bulls attempted a break above $85,000. Ethereum oscillated between $2,650 and $2,740, while XRP and Dogecoin inched higher.
Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 1.57% and 0.41%, respectively.
More than $220 million in crypto positions were liquidated over the past 24 hours, with long traders suffering most of the losses, according to Coinglass data.
Bitcoin’s open interest slid 2.20% over the last 24 hours. A fall in open interest alongside a price increase typically suggests short sellers are buying back contracts to close losing positions.
Investor sentiment leaned toward “Greed,” according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
| Bitway (BTW) | +24.80% | $1.39 |
| Pump.fun (PUMP) | +24.10% | $0.005889 |
| Quant (QNT) | +30.50% | $278.02 |
The global cryptocurrency market capitalization stood at $2.96 trillion, up 0.30% over the last 24 hours.
Stocks Extend Losses
The stock market continued its downward trend on Tuesday. The Dow Jones Industrial Average fell 131.59 points, or 0.26%, to close at 51,349.9. The S&P 500 dropped 0.16% to end at 7,670.84, while the Nasdaq Composite dipped 0.09% to close at 26,797.54.
Bond yields climbed further, while talks aimed at ending the war in Iran made limited progress.
The returns on long-dated 10-year Treasury notes climbed to 5.29%, its highest level since 2007, while the 30-year yield rose above 5.6%, reaching its highest level since June 2002.
Bitcoin Rally Showing Cracks?
On-chain analytics firm CryptoQuant noted that Bitcoin profit-taking has reached its highest level since Dec. 2024, a signal that demand is “fading.”
“The bull market is intact, but the rally is showing cracks. $80,000 is the first support to watch,” CryptoQuant added.
Blockchain research firm Santiment highlighted that wallets holding 10-10,000 Bitcoin accumulated 41,025 BTC over the past 10 days, increasing their share to 67.93% of the total supply.
However, retail wallets under 0.01 BTC have remained largely “flat” since the $87,000 price peak.
“The current divergence is encouraging, but it isn’t a guaranteed price signal,” Santiment stated. “That combination has repeatedly appeared before stronger Bitcoin moves.”
Photo Courtesy: Marc Bruxelle on Shutterstock.com
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