The cryptocurrency landscape has undergone a pronounced decline recently, with Bitcoin briefly touching the $82,000 mark overnight before continuing a downward trajectory that has contributed to a total liquidation volume of $1.80 billion within the last 24 hours. This widespread selloff has compelled investor caution and underline the fragility present in current market conditions.
Significant outflows have been observed in cryptocurrency exchange-traded funds (ETFs), which serve as key investment vehicles for exposure to digital assets. Bitcoin ETFs experienced net withdrawals totaling $817.9 million on Thursday, while Ethereum ETFs saw $155.6 million leave their portfolios in the same period. These figures underscore the selling pressure that has permeated not only spot markets but also investment products linked to cryptocurrency performance.
Within the broader market, the meme coin sector has been notably affected, with an approximately 9% decline over the past day. This sector’s aggregated market capitalization contracted to $40.6 billion, reflecting investor retrenchment amid the volatile environment and correlating with the bearish trends witnessed in more prominent cryptocurrencies.
Current market prices illustrate the scale of the decline among major coins as follows:
| Cryptocurrency | Ticker | Price |
|---|---|---|
| Bitcoin | BTC | $82,657.91 |
| Ethereum | ETH | $2,731.64 |
| Solana | SOL | $115.78 |
| XRP | XRP | $1.74 |
| Dogecoin | DOGE | $0.1138 |
| Shiba Inu | SHIB | $0.057219 |
Market analysts and traders have been actively commenting on the emerging technical patterns. Analyst Crypto Tony has pointed out a possible retest of $84,600 for Bitcoin, suggesting this could present an opportunity to re-enter short positions with a downside target around $80,600. The implications here are that the market might continue to face downward pressure before stabilizing.
Additional commentary from Daan Crypto Trades highlights that Bitcoin has broken below a significant support level. The November lows have yet to be tested, but from a bullish perspective, there is hope that prices might pause at the current level without further negative momentum. A reclaim of the lost support could potentially trigger a market reversal, though such an outcome remains uncertain.
Ethereum also remains under pressure, with Crypto Tony observing resistance levels near $2,780, which could test if further shorting opportunities present themselves, aiming to move down toward recent lows. This reflects a cautious sentiment around the medal coin’s near-term direction.
Solana’s performance has drawn scrutiny from traders such as Crypto Cactus, who described its chart as among the weakest currently in the market. The coin has dropped below the critical $125 level, which historically acted as both support and resistance, and it appears poised to hit its lowest weekly close since March 2025. This technical deterioration is an additional sign of weakening conditions.
Dogecoin has seen its price fall below $0.115, crossing under its 2026 yearly opening levels and recording its lowest point since the October 10 flash crash, as noted by commentator Kriss Pax. This continued decline signals persistent vulnerability in the meme coin space.
Shiba Inu presents a contrasting metric with a substantial increase in burned tokens—Shibburn data indicates a 500.7% surge in the burn rate over the past 24 hours. This elevated token burn represents an attempt to reduce circulating supply, which can have long-term effects on price dynamics but has not yet reversed the short-term price losses.
The current market environment has amplified the importance of responsive trading strategies. Veteran trader Matt Maley, with over 35 years of experience, has noted that such volatile periods can yield substantial gains from trades focusing on market breakdowns, sector reversals, and volatility ETF plays. His alerts have recently highlighted actionable opportunities with triple-digit returns, indicative of the rapid market movements affecting investors today.
Price performance at market close shows Bitcoin down 2.33% at $82,685.17 and Dogecoin down 2.46% at $0.1142. Ethereum fell 2.88% to $2,736.49, Shiba Inu declined by 1.36% to $0.000007, Solana was down 1.43% at $115.94, and XRP depreciated 3.22% settling at $1.75.
The current phase suggests cautious market participation while closely monitoring key support and resistance zones, alongside ETF flow data and token-specific fundamentals such as burn rates. Traders and investors remain attentive to forthcoming price actions that could define the next medium-term trend.