Bitcoin today: BTC, Ethereum, and XRP decline, and the cryptocurrency market falls below US$ 3 trillion

Source: PortaldoBitcoin Original Title: Bitcoin Today: BTC, Ethereum, and XRP Retreat as Cryptocurrency Market Falls Below US$ 3 Trillion Original Link: https://portaldobitcoin.uol.com.br/bitcoin-hoje-btc-ethereum-e-xrp-recuam-e-mercado-de-criptomoedas-cai-abaixo-de-us-3-tri/ Bitcoin and major cryptocurrencies declined on Wednesday (24th), with the total cryptocurrency market cap dropping 1.4% to US$ 297 billion, falling below US$ 3 trillion again after another failed recovery attempt.

Around 7:30 AM local time, Bitcoin’s trading price was $87,050, down 0.5%. This was a day with lower trading volume, as investors are in the Christmas holiday rhythm.

Ethereum fell 1.1% to approximately $2,932, and XRP showed a similar trend, dropping 1.3%. Solana and Dogecoin experienced larger declines, each falling about 2%.

Although some stock indices hit new records, this correction is still ongoing, reinforcing the sense that capital is favoring safety. Global stocks hit another record, with investors reacting positively to strong US growth, reinforcing expectations for stronger corporate profits.

FxPro Chief Market Analyst Alex Kuptsikevich said the market shows signs of increased seller control, with multiple rebounds failing to hold. “The market failed to replicate a strong rebound from local lows, indicating increased selling pressure,” Kuptsikevich said.

He added that since cryptocurrencies are still far from recent highs, the performance of large investors increasingly resembles a market entering a bear phase, leaning more toward mild selling rather than sharp volatility driven by retail investors.

Kuptsikevich also pointed out broader risk scenarios. Bitcoin briefly broke above $90,000 earlier this week before experiencing another wave of selling, despite gold and other precious metals rising strongly and the US dollar depreciating.

In his view, this combination indicates that investors are reassessing their risk appetite, and risk aversion may further spread. “In the coming weeks, we can expect larger declines in cryptocurrencies and a spread of risk aversion into stocks and emerging market currencies,” he said.