The global cryptocurrency market cap fell 2.3% to $1.1tn, with Bitcoin dropping 2% to $26,432. Ethereum was also below the $1,850 mark. Other tokens, including BNB and Solana, fell by over 6%, and XRP, Cardano, Polygon and Polkadot traded with cuts. The US SEC’s recent crackdown on Binance and Coinbase sparked fear in the markets, with top altcoins declining by over 10% in the past week. The presence of bearish engulfing candles indicates potential selling pressure and dominance by sellers, according to Sathvik Vishwanath, Co-Founder & CEO of Unocoin.
