Cryptocurrency Market Sees Decline, Bitcoin Drops Below $80,000

The cryptocurrency market traded mostly lower over the past 24 hours.According to CoinMarketCap  Bitcoin (BTC) dropped 2.09% to $79,045.34.

Ethereum (ETH) fell 1.58% to $2,464.41, while BNB slid 2.87% to $695.99. A steeper decline was recorded in Zcash (ZEC), which fell 8.49% to $784.54. Bitcoin Cash (BCH) lost 3.83% and Bittensor (TAO) decreased by 3.20%. Bucking the trend, Monero (XMR) gained 0.37% to reach $442.81.

Gold-backed cryptocurrencies posted modest gains: PAX Gold (PAXG) rose 0.24% to $4,640.88, and Tether Gold (XAUT) added 0.27% to trade at $4,632.46.

Total cryptocurrency market capitalization contracted by 2.19% over the past 24 hours to $2.65 trillion.

The pullback follows Bitcoin’s rally above the $80,000 threshold for the first time in over three months, when it reached $81,237.94 before facing profit-taking and a lack of fresh bullish drivers. Analysts view the $80,000–$82,000 range as a key resistance level for Bitcoin.