Global Crypto Market Cap Dips as Bitcoin Retreats

Global cryptocurrencies market capitalisation declined by 0.68% due to sell pressures in top digital assets due to bearish sentiment. Due to price declines in Bitcoin (BTC-USD), Ethereum (ETH-USD), and other major assets, the market value of all cryptos dropped to $3.3 trillion.

Global cryptocurrency market capitalisation declined on Friday due to sell pressures in top digital assets amid bearish market sentiment.

The market value of all cryptocurrencies dropped to $3.3 trillion as prices fell for Bitcoin (BTC-USD), Ethereum (ETH-USD), and other major assets.

The orange coin was trading around $94,000 while Ethereum hovered below $3,300 at the last data look.

Trading volume declined sharply in a bearish market. In the past 24 hours, the total crypto market volume was $72.43 billion, down 55.14%.

DeFi's total volume was $5.78 billion, or 7.98% of the total crypto market's 24-hour volume, according to CoinMarketCap.com data. Stablecoin volume was $64.56 billion, or 89.13% of the total crypto market's 24-hour volume.

Major digital assets were largely firmer on Friday, with Bitcoin (BTC-USD) trading near the $95,000 level. The CoinDesk Market Index, which tracks 124 digital assets, rose 3.7% in the past 24 hours.

US stock market benchmarks were in the red in late trading, with the Nasdaq 100 and the Dow Jones Industrial Average down 1.6%, and the S&P 500 down 1.5%.

Bitcoin rose 3.1% to $94,778, and its 24-hour trading volume increased 8.4% to $65.77 billion, according to CoinMarketCap. However, the world's most popular cryptocurrency was on track for a weekly decline of nearly 4%.

Ethereum (ETH-USD), the world's second-largest digital asset by market capitalisation, rose 2.1% to $3,267, and was set for a weekly decline of nearly 10%. XRP (XRP-USD) rose 3.6%, Solana (SOL-USD) added 1.3%, and BNB (BNB-USD) rose 1.8%. Dogecoin (DOGE-USD) rose 4.9% and Cardano (ADA-USD) added 3.9%.

The total cryptocurrency market cap increased 2.9% in the past 24 hours to $3.3 trillion, and the total 24-hour trading volume increased 1.8% to $154.77 billion.