The overall crypto market continued to be volatile on Thursday as Bitcoin failed to catch any price momentum over the last day. BTC, the most expensive crypto assets, fell in price by nearly two percent in the last 24 hours. At the time of writing, Bitcoin was trading at $66,450 — sliding from its previous day’s price point of $67,340.
In conversation with Coin Headlines, market analysts pointed out that Bitcoin’s price remains below the 50-day and 200-day averages, signaling a weak medium-term trend.
“BTC is holding holding between $66,836 support and $68,439 resistance. Relative Strength Index (RSI) near 32 suggests oversold conditions, while negative Moving Average Convergence Divergence (MACD) confirms bearish momentum,” said Sathvik Vishwanath, Co-Founder and CEO, Unocoin, advising traders to use tight position sizing, firm stop-losses, and avoid over-leverage.
Ether joined Bitcoin in clocking losses over the last day. The second-most expensive crypto after BTC, ETH reflected a loss of 2.45 percent that held its price at $1,938, data by CoinMarketCap showed.
“Bitcoin and Ethereum face key resistance levels. Ethereum holds near $1,970 after rebounding from $1,922 but remains capped below $2,000–$2,020,” Riya Sehgal, research analyst at Delta exchange told Coin Headlines.
XRP, BNB, Solana, Dogecoin, Bitcoin Cash, Cardano, Hyperliquid, Monero, Chainlink, Canton, and Stellar joined BTC and ETH to see losses within the range of two percent and six percent on Thursday.
Zcash, that had been on a rally all of January, tumbled by nearly ten percent over the last day. At present, the ZEC token is trading at $258.4. Hereda, Litecoin, Shiba Inu, Toncoin, and World Liberty Financial also fell by around five percent each.
“Federal Reserve minutes showed some policymakers remain open to rate hikes if inflation persists, limiting risk appetite. Polymarket odds for the Clarity Act’s passage rose to 90 percent before easing to 70 percent, reflecting uncertainty around U.S. crypto regulation. CryptoQuant data showed a 50 percent drop in altcoin volumes as capital rotates back into Bitcoin, consistent with prior consolidation phases. The market remains in a wait-and-watch phase,” Sehgal added.
Leo and Cosmos managed to see small price upticks of under two percent.
Owing to majority tokens reeling under losses, the overall crypto market cap dropped by under two percent in the last 24 hours. With this, the valuation of the sector dropped to $2.29 trillion on Thursday, CoinMarketCap showed.
Over 96,600 crypto traders were liquidated in the last 24 hours with the total liquidations hitting $196.26 million, CoinGlass data showed.