Bitcoin Price Falls Toward $80,000 as XRP Drops Below $1.30 Amid Crypto Market Sell-Off
Bitcoin fell to $80,400 on Saturday, approaching the $80,000 level after failing to sustain a rally toward $85,000 earlier in the week. The broader cryptocurrency market also weakened, with Ethereum slipping further below $2,400 and XRP losing support at $1.30.
The latest downturn followed a rejection near $85,000 on Wednesday. Bitcoin's decline continued into Friday and Saturday morning, with market sentiment potentially affected by recent comments from U.S. President Donald Trump regarding the war involving Iran.
Bitcoin Retreats After Reaching a Two-Week High
Bitcoin's recent price movements followed a volatile period around the release of U.S. Consumer Price Index and Producer Price Index data. After dropping below $80,000 during the previous business week, BTC rebounded to above $82,000 over the weekend.
A sharp decline on Saturday evening briefly pushed the price down by approximately $1,000. Bitcoin subsequently attempted to break through resistance at $83,000 on Monday but initially failed, falling back toward $81,000.
The cryptocurrency recovered on Tuesday and moved above $83,000 before extending its gains on Wednesday to nearly $85,000, its highest level in approximately two weeks. The advance was short-lived, however, as sellers pushed the price below $83,000 before further losses carried it to $80,400.
Bitcoin remained above $80,000 at the time covered by the report but was down approximately 1% over 24 hours. Its market capitalization had fallen to $1.620 trillion, while its dominance over the broader cryptocurrency market stood at 60%, according to CoinMarketCap.
XRP Falls Below $1.30 as Altcoins Decline
Ethereum was down by a similar daily percentage to Bitcoin and traded well below $2,400. XRP fell more than 2%, dropping below $1.30 after approaching $1.40 on Wednesday before the broader market reversal.
Solana was nearing a break below $100, while Zcash had fallen below $1,200. Monero, Stellar, Chainlink, RAIN, Litecoin and NEAR also recorded losses.
Worldcoin's WLD token was the largest double-digit decliner among the assets highlighted in the report. In contrast to the wider market weakness, M rose by 10%.
Total Crypto Market Capitalization Falls to $2.7 Trillion
The overall cryptocurrency market capitalization declined by more than 1% over 24 hours to approximately $2.7 trillion, according to CoinMarketCap.
Bitcoin's retreat toward $80,000 and the losses across major altcoins marked a reversal from the midweek rally. Whether Bitcoin can maintain support above $80,000 remained a key question as the weekend trading period continued.
source: cryptopotato
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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