Crypto Market Updates: BTC Dips Below $85K, ETH Plunges, XRP Records Spike

The cryptocurrency market saw a drop, with Bitcoin (BTC), Ethereum (ETH), and XRP undergoing price fluctuations. Bitcoin dropped below $85,000, Ethereum saw further losses, and XRP briefly rose before stabilizing. In the meantime, investor sentiment across the broader market remained wary as they reacted to macroeconomic shifts and technical market trends.

Bitcoin Drops Below $85K Amid Market Pressure

At press time Bitcoin (BTC) traded at $84,555 which demonstrated a 1.17% increase in daily performance but a 0.77% reduction from the previous week. Long-term investors sold BTC assets through market liquidations during the period when public firms steadily built positions. 

The recent data revealed public companies acquired 95,000 BTC while long-term investors sold 178,000 BTC between recent months.

Additionally, outflows from U.S.-based Bitcoin exchange-traded funds (ETFs) contributed to the market’s downward pressure. The broader economic environment, including growing concerns about a potential recession, also played a role in the latest market shift.

Ethereum Price Falls Below $1,850 as Sell-Off Continues

ETH fell to $1,831.43 during the last 24 hours while showing a 0.93% jump yet a 4.03% dip since the previous week. The market-wide price trend forced asset traders to engage in liquidation deals because of continuing market uncertainty. 

During the previous 24 hours crypto liquidations exceeded $500 million and Ethereum took a substantial portion of those losses.

The market data showed Ethereum together with Bitcoin moving downward according to technical indicators. Market analysts identified a rising wedge pattern indicating that prices should move downwards. Market participants kept their eyes on potential support areas as ETH neared an essential boundary.

XRP Sees Temporary Spike Before Declining Below $2

XRP saw fluctuations, momentarily exceeding $2 before falling back to $2.09. The token experienced a 2.34% rise in the last 24 hours but noted a 6.20% drop over the past week. The recent monthly release of 300 million XRP from Ripple’s escrow affected the price movement, increasing the supply and applying downward pressure on the price.

Even with the temporary decrease, XRP sustained a robust market position, exhibiting a trading volume of $4.45 billion. Traders stayed concentrated on how future events from Ripple Labs might impact price movements in the short term

Macroeconomic Factors Add to Market Volatility

The cryptocurrency market decline occurred simultaneously with financial market fallouts across the board. A downturn affected all major market indices as the Nasdaq declined by 4.7% while the S&P 500 and Dow Jones Industrial indices suffered losses above 3%. 

After President Donald Trump announced tariffs that included minimum 10% duties and additional rates on Chinese as well as European imports the market experienced a downward trend.

Market opinion remained insecure because of growing recession worry. The predictions about a 2025 U.S. recession reached 51% based on Polymarket data analysis. Some experts predicted the Federal Reserve would quicken interest rate reductions in case of recession emergence thus affecting how investors view cryptocurrencies.

Currently traders keep monitoring the essential support point at $80,000 for Bitcoin due to possible rising market sell-offs. However, a potential rebound remains possible, depending on economic policies and Federal Reserve actions in the coming months.