Bitcoin, Ethereum, XRP, Dogecoin Pull Back: Analysts Say Crypto Market Still In 'Downtrend' But Find 'No Reason' For It To Fall Lower - Grayscale Bitcoin Mini Trust (BTC) (ARCA:BTC)

Core Viewpoint - Leading cryptocurrencies experienced declines as investors took profits following recent rallies, mirroring a pullback in stock markets [1][6]. Cryptocurrency Market Summary - Bitcoin fell by 1.56% to $91,305.82, while Ethereum decreased by 2.97% to $3,170.13. XRP, Solana, and Dogecoin also saw declines of 5.03%, 2.55%, and 1.02% respectively [2][3]. - Bitcoin's trading volume dropped by 22% over the last 24 hours, and its dominance in the market remained around 58% [3]. - Approximately $285 million was liquidated from the cryptocurrency market in the last 24 hours, with $241 million attributed to long liquidations [4]. - The global cryptocurrency market capitalization decreased by 1.87% to $3.13 trillion [5]. Stock Market Summary - The Dow Jones Industrial Average fell by 466 points (0.94%) to 48,996.08, while the S&P 500 dropped by 0.34% to 6,920.93. The Nasdaq Composite was an exception, rising by 0.16% to 23,584.27 [6]. - Energy stocks, including Chevron and Exxon Mobil, contributed to the decline, with respective decreases of 0.86% and 2.11% [6]. Market Sentiment and Trends - Analysts from B2BINPAY noted that despite recent gains, the cryptocurrency market remains in a downtrend, suggesting that a bearish phase is unlikely to start at current levels [9]. - A widely followed analyst indicated that Bitcoin needs to close outside the range of $88,000 to $94,000 to confirm its trend direction [10].