As of the latest updates, the global cryptocurrency market cap stands at an impressive $2.82 trillion, reflecting a 3.64% decrease in value over the last 24 hours. Bitcoin (BTC) has shown volatility during this period, trading in a wide range between $91,100 and $85,218. At 09:30 AM UTC today, BTC is priced at $86,348, which represents a decline of 3.27% from the previous day.
The performance of other significant cryptocurrencies is mixed, with notable market outperformers such as PROS, BURGER, and BNX, which have surged by 105%, 24%, and 19%, respectively. In the news today, U.S. Treasury Secretary Bessent has pledged to terminate the “regulatory weaponization” against digital assets, a critical step toward fostering a healthier regulatory environment.
In a related move, former President Trump has instructed the Treasury and Commerce Departments to investigate the potential for accumulating Bitcoin as part of a U.S. digital asset reserve. The sell-off in the tech sector has intensified, pushing the Nasdaq 100 into correction territory. Furthermore, the latest nonfarm payroll data has missed expectations, indicating possible softening within the labor market.
Not to be overlooked, Michael Saylor has proposed budget-neutral approaches related to U.S. Bitcoin reserves, which might pave the way for new strategies in digital asset management. Fed Chair Powell has indicated that there is no immediate rush for rate cuts, amid prevailing policy uncertainty, while Morgan Stanley has adjusted its predictions for U.S.
GDP growth in 2025 downward. Zhu Su has remarked that the proposed Strategic Bitcoin Reserve Act could symbolize Bitcoin’s recognition on a global scale. The SEC is also presently reviewing XRP ETF applications, with an announcement anticipated by October. Meanwhile, Bitcoin miners have held steady since February, according to analytical reports.
In terms of market movers, Ethereum (ETH) is currently quoted at $2,141.19, down by 3.00%. XRP has decreased to $2.3586, reflecting a significant drop of 7.96%. Other cryptocurrencies, like BNB, SOL, DOGE, ADA, TRX, and WBTC, have varied performance, with price changes occurring alongside market dynamics.
For instance, BNB stands at $598.2 (-0.71%), SOL at $138.97 (-4.68%), and DOGE at $0.19678 (-3.09%). In a further note, ADA is priced at $0.8207 (-7.49%), whereas TRX is up by 3.73% at $0.2506. Additionally, TRUMP reflects a decline of 6.83% to $12.28, while WBTC and LINK show movements to $86,251.85 (-3.11%) and $15.49 (-9.73%) respectively.
This mixed performance across the cryptocurrency landscape highlights the volatility and rapid changes within the sector..