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ALGO 
BCH 
BTC 
CRV 
DOGE 
ENA 
ETH 
HYPE 
JUP 
LINK 
LTC 
RAY 
UNI 
XRP 
ZEC 
SKY 
PUMP The wave of selling in the cryptocurrency market that started on Wednesday did not stop
Bitcoin prices fell back to $82,200, hitting a 17th low. The total market value of the entire cryptocurrency market fell from $2.92 trillion to $2.81 trillion in 36 hours, meaning approximately $110 billion in value evaporated.
Bitcoin's decline also affected altcoins. ZEC fell 6%, and XRP, HYPE and LINK lost about 3%-4% in value. However, some altcoins withstood the wave of selling and achieved double-digit gains.
Why did Bitcoin fall back to US$82,200?
Bitcoin experienced a brief rise after the release of U.S. employment data last weekend. As the data was weaker than expected, BTC quickly climbed to US$87,250. But this rally failed to last. Bitcoin fell back more than $3,000 in a few hours, falling below the $84,000 mark. After gaining support, prices came back above $84,000 on Saturday.
Buyers tried again to hit the $87,000 area from Sunday night to early Monday morning, but Bitcoin failed to break through the resistance level and retreated to about $85,000. Although a short-term rally took the price to $86,700 at one point, the second rejection was harsher. Bitcoin lost $2,000 in just 20 minutes, and the first rally stalled at $84,300.
Selling pressure continues today. BTC fell to $82,200, a 17-day low. The price then stabilized around $83,000, and Bitcoin's market value fell to approximately $1.66 trillion. Bitcoin's market dominance remains at approximately 59%. 
Which altcoins fell the most?
Selling pressure on Bitcoin spreads to the altcoin market. Ethereum (ETH) fell back to $2,560 above $2,700, devaluing 1.6% in the past 24 hours. XRP retreated to $1.41 due to its inability to break through the $1.50 resistance. Solana fell to $115, while HYPE stayed below $90.
The sharpest loss occurred in Zcash (ZEC), which fell 6% to US$1,240. DOGE, LINK, RAIN, BCH, LTC, UNI, ENA, PUMP and SKY all closed down.
However, the wave of selling did not drag down all tokens in the market. BTW rose more than 11%. JUP, RAY, CRV and ALGO are also among the best altcoins that achieve double-digit returns.
How much has the total market value of the cryptocurrency market shrunk?
According to CoinMarketCap, the total market value of the cryptocurrency market has dropped from US$2.92 trillion to US$2.81 trillion in the past 36 hours.
The difference between the two is approximately US$110 billion. Although the source describes this as "slightly more than US$100 million"(the original expression here may contain unit confusion or specific context, but based on the numerical calculation in the context, the actual corresponding value is approximately US$110 billion in losses), the given valuations of US$2.92 trillion and US$2.81 trillion do correspond to a loss of value of approximately US$110 billion.
The continuous blocking of Bitcoin and the spread of selling pressure to altcoins have accelerated the loss of value in the overall market. Whether BTC's rebound after bottoming out at $82,200 is sustainable and whether it will encounter resistance again at $87,000 is crucial to the short-term market outlook. In terms of altcoins, XRP remains below US$1.50 and Ethereum has failed to regain the US$2,700 area, indicating that the market recovery has not yet been consolidated.
This content is based on general market data and does not constitute investment advice. Independent research is recommended.
