Why Is the Crypto Market Falling Today? Bitcoin and Altcoins Under Pressure

The crypto market is facing another wave of selling pressure, with Bitcoin plunging after failing to sustain its recent recovery. The BTC price is currently trading close to $77,000, down from $78,500 in the past 24 hours. Besides, all the other popular altcoins are also falling significantly due to selling pressure, as the market capitalization also plunges by 1.55%. 

The decline comes as investors grow more cautious across global financial markets. With the crypto markets losing momentum near recent highs, traders are now assessing whether the move represents a short-term correction or the start of a deeper market downturn. So what’s driving the crypto market correction? 

Crypto Market Today: Bitcoin & Altcoins Face Renewed Selling Pressure

The broader crypto market shows clear signs of weakness, with total market capitalisation down about 1.55% over the past 24 hours to $2.62 trillion. Trading activity has picked up, with the 24-hour volume at roughly $84.3 billion, up about 3.1%. Bitcoin remains the market’s anchor, with BTC dominance at 59%, but the star crypto is also under pressure, trading around $77,225. Ethereum has remained restricted below $2500, but his displaying strength against Bitcoin by holding above $2,450.