Bitcoin Today: BTC, Ethereum, and XRP Pull Back, Cryptocurrency Market Falls Below $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 experienced a correction this Wednesday (24th), with the total cryptocurrency market cap dropping 1.4% to US$ 2.97 trillion, once again falling below the US$ 3 trillion mark, marking another failed rebound attempt.

Around 7:30 AM local time, Bitcoin traded at US$ 87,050, down 0.5%, a day when investors are in Christmas holiday mode, and trading volume is expected to be lower. At current exchange rates, this cryptocurrency’s trading price in Brazil is approximately R$ 482,808.

Ethereum declined 1.1% to about US$ 2,932, with XRP experiencing a similar drop of 1.3%. Solana and Dogecoin saw larger declines, each falling about 2%.

Although some stock indices reached new highs, this correction is still ongoing, reinforcing the perception that capital is favoring safety. Global stocks hit another new high, with investors reacting positively to the strong US growth, which strengthens the outlook for more robust corporate profits.

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

He added that since cryptocurrencies are still well below 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 traders.

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

According to him, this combination suggests investors are reassessing their risk appetite, with risk aversion possibly spreading further. “In the coming weeks, we can expect more pronounced declines in cryptocurrencies and risk aversion spreading to stocks and emerging market currencies,” he said.