by Coinstrooper Crypto Articles
Quick Take
  • The crypto market is down today, with the global market cap falling by 0.8% to $4.17 trillion.
  • Trading volume is also lower, now sitting at $143.7 billion.
  • Most of the top cryptocurrencies are showing red on the 24-hour chart.
  • 8 of the top 10 cryptocurrencies are in the red today;

What Happened

TLDR:

8 of the top 10 cryptocurrencies are in the red today;

BTC is down 0.6% to $116,601, ETH drops 1.6% to $4,522;

Market Context

The crypto market is down today, with the global market cap falling by 0.8% to $4.17 trillion. Trading volume is also lower, now sitting at $143.7 billion. Most of the top cryptocurrencies are showing red on the 24-hour chart.

Bitunix says the bill boosts risk appetite short-term but may spark volatility;

At the time of writing, eight of the top 10 cryptocurrencies by market cap are in the red over the past 24 hours.

Bitcoin (BTC) is trading at $116,601, down 0.6% on the day. Still, it’s up 1.3% for the week.

The market appears to be consolidating after recent gains, with traders closely watching for support levels, especially around the $115K zone for BTC and $4,500 for ETH.

Meanwhile, CryptoQuant analyst Axel Adler Jr. predicts that Bitcoin may enter a brief consolidation phase over the next one to two weeks before potentially pushing toward a new all-time high, noting that BTC is currently trading just above the short-term holder (STH) realized price, a key support level based on the cost basis of wallets holding coins for up to six months.

Bitunix analysts flagged the advancement of Michigan’s Bitcoin Reserve Bill (HB 4087) as a key political development with both symbolic and structural implications for crypto markets.

Why It Matters

CryptoQuant analyst expects BTC consolidation for 1–2 weeks;

Details

Michigan advances Bitcoin Reserve Bill (HB 4087);

Crypto Fear & Greed Index is stable at 52, indicating neutral sentiment;

US BTC spot ETFs saw $163.03M in inflows;

ETH spot ETFs recorded $213.07M in inflows;

Crypto Winners & Losers

Ethereum (ETH) dropped 1.6% to $4,522, continuing a choppy week with a slight 7-day decline of 0.2%.

XRP (XRP) is the top loser among majors, falling 2.6% to $3.03.

Solana (SOL) and Lido Staked Ether (stETH) both slipped 1.6% and 1.7%, respectively.

Cardano (ADA) also declined 1.7% to $0.9017, while Dogecoin (DOGE) dropped 2.5% to $0.2736.

On the upside, BNB (BNB) gained 0.7%, reaching $994.72, while Chainlink (LINK) edged up 0.3% to $24.40, making it one of the few top-15 coins in the green.

Among trending tokens, Trust Wallet (TWT) led gains with a 36.2% jump to $1.10, followed by APX, up 31.1%, and Linea, which rose 10.6%.

In contrast, Aster (ASTR) dropped 10%, making it one of the weakest trending tokens of the day.

Michigan Bitcoin Bill Sparks Institutional Hopes