Crypto price charts, mired in reds, reflected more losses than profits on Wednesday. Bitcoin price dramatically fell by three percent in the last 24 hours. At the time of writing, the asset was trading at $66,700 level — showing a 10 percent loss in its seven-day average.
Analysts, in conversation with Coin Headlines said that the markets are facing a sharp sell-off, projects lacking real utility or revenue.
“BTC remains capped below the $70,000 psychological level, the key SMAs, and a developing bearish trend line at $69,200 on 1 hour chart. This repeated failure to break higher keeps bears firmly in control in short time frame,” Riya Sehgal, research analyst at Delta exchange told Coin Headlines.
Ether joined BTC in seeing losses of around three percent. At the time of writing, ETH was trading at $1,957 with an 11 percent reduction in its weekly price average.
“Ethereum is facing even sharper pressure, closely tracking BTC’s correction but with greater downside risk. The $2,000 level is now critical, a breach could trigger accelerated selling toward $1,900–$1,760, while holding here may form a near-term base,” Sehgal added.
XRP, BNB, Solana, Tron, Dogecoin, Bitcoin Cash, Cardano, Leo, and Chainlink registered losses of under four percent in the last 24 hours.
Meanwhile USDC joined Monero, World Liberty Financial, Cosmos, and Kaspa saw small gains of under two percent.
“Investors are rotating toward platforms with sustainable business models, highlighted by gains in Canton Network and Hyperliquid. Meanwhile, Sui has dropped 16 percent, struggling in a risk-off environment, while BankrCoin has surged over 40 percent , though volatility remains high. Amid the turbulence, DeepSnitch AI ($DSNT) has raised over $1.53 million in presale Stage 5, with its price up 160 percent to $0.03906, positioning itself as a utility-focused AI project aiming to capitalize on the market’s shift toward fundamentals,” Sathvik Vishwanath, Co-Founder and CEO, Unocoin told Coin Headlines.
The overall crypto market cap slipped by 2.55 percent in the last 24 hours. The valuation of the sector stands at $2.29 trillion. CoinMarketCap showed.
Analysts said, that while near-term caution remains prudent with tight risk management, long-term bulls view the current dip as a healthy reset and accumulation window ahead of the broader cycle recovery.
Over 107,950 traders were liquidated in the last 24 hours with total liquidations hitting over $312.90 million, as per CoinGlass.