Market Pressure Builds as Bitcoin Drops and Altcoins Underperform

According to CoinMarketCap data, total crypto market capitalization has slipped to around $3.08 trillion, reflecting broad-based weakness across major assets.

Bitcoin is trading near $90,900, down roughly 1.7% over the past 24 hours, after failing to hold above the $93,000–$94,000 zone. Selling pressure has spilled into the rest of the market, with large-cap altcoins underperforming BTC as risk appetite fades.

Beyond Bitcoin, several major altcoins have seen sharper pullbacks. Solana is trading near $131, down more than 6% on the day, making it one of the weakest large-cap performers as recent upside momentum unwinds.

XRP has slipped to around $1.95, extending losses to over 5% on a weekly basis as it continues to struggle below key resistance levels. BNB has proven relatively more resilient but is still lower, trading near $916 after a modest daily decline.

Market-wide indicators reinforce the cooling narrative. CoinMarketCap’s average crypto Relative Strength Index has dropped into the high-30s, suggesting oversold conditions are beginning to emerge across multiple assets. Meanwhile, the Altcoin Season Index remains subdued, highlighting continued Bitcoin dominance even as prices pull back.

Technical pressure builds near key support

Short-term charts show why the current zone is critical. Bitcoin’s sharp rejection from the $95,000–$96,000 area triggered a cascade lower, pushing momentum indicators into bearish territory.

The Relative Strength Index briefly dipped toward oversold levels before stabilizing, while the Moving Average Convergence Divergence remains deeply negative, signaling that downside pressure has yet to fully dissipate.

Importantly, trading volume has not spiked to levels typically associated with capitulation. This suggests the move is corrective in nature, aligning with recent data showing leverage being reduced rather than forced liquidations dominating the tape.

For now, the market’s focus remains on whether Bitcoin can defend the $90,000 psychological level. Holding this zone could allow conditions to stabilize and set the stage for a rebound across BTC, Solana, XRP, and BNB. A decisive break lower, however, would likely extend pressure across the altcoin complex as traders reassess risk in the near term.

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