Crypto market dips on profit taking

Major digital assets extended declines over the past 24 hours across global cryptocurrency markets.

Data from CoinMarketCap showed Bitcoin slipped 1.57% over the day to $82,815.30, paring its weekly return by 0.98% while remaining up 4.95% over the past 30 days, with a market capitalization of $1.66 trillion.

Leading altcoins followed suit: Ethereum fell 1.75% to $2,566.87, Zcash shed 1.85% to $1,303.60, and Monero dropped 0.39% to $559.63. Declines also hit Bitcoin Cash (-2.76% to $298.74), Bittensor (-2.20% to $288.84), and Solana (-2.02% to $115.89). Bucking the trend, BNB gained 0.38% to $769.93. Gold-pegged tokens also softened, with PAX Gold (PAXG) easing 0.19% to $4,142.57 and Tether Gold (XAUT) dropping 0.27% to $4,135.19.

The CoinMarketCap 20 index fell 1.30% to 171.18 points. Market analysts attribute the downturn to cautious sentiment in risk assets, ongoing profit-taking following prior gains, and continued uncertainty surrounding Federal Reserve interest rate policy.

N.Tebrizli